Document:

Form of Employment Agreement

 Exhibit 10.24 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (this
“Agreement”) is dated as of             [—], 2013, by and between Health Insurance, Innovations, Inc., a Delaware
incorporated corporation (the “Company”), and Michael D. Hershberger (“Executive”). 

Recitals 

A. In connection with its Offering (the “Offering”), as defined in Section 2, the Company intends to enter into
this employment agreement with Executive, and Executive desires to be hired by the Company, upon the terms and conditions set forth herein, to become effective on the consummation of the Offering; and 

C. The Company and Executive agree to protect the interests of the Company and Company’s customers and Confidential Information that
may have been or that may be disclosed to Executive as set forth herein. 
 Agreement 

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

Section 1. Employment, Duties and Acceptance.  
 (a) The Company shall employ Executive during the Term (as defined below) as Chief Financial Officer, Treasurer and Secretary. Executive shall have such authority and responsibilities as are consistent
with the authority and responsibilities of a Chief Financial Officer, Treasurer and Secretary in the health insurance products industry. 
 (b) Executive hereby accepts such employment and agrees to render Executive’s services to the Company on a full-time basis and to devote Executive’s full business time and attention to the
business and affairs of the Company and any subsidiary or affiliate of the Company. Executive agrees that at all times during the term hereof, Executive will faithfully perform the duties assigned by the Company to the best of Executive’s
ability. Executive further agrees to accept election and to serve during all or any part of the Term as an officer, director or representative of any subsidiary or affiliate of the Company, without any compensation therefor other than that specified
in this Agreement. Executive shall report directly to the Company’s Chief Executive Officer. 

 (c) The duties to be performed by Executive hereunder shall be performed primarily at the
Company’s principal offices in Tampa, Florida subject to reasonable travel requirements on behalf of the Company. Executive shall be entitled to an annual vacation of 22 days in accordance with the Company’s policies and practices;
provided that Executive shall schedule the timing and duration of Executive’s vacations in a reasonable manner taking into account the needs of the business of the Company. 

(d) Executive acknowledges that from time to time the Company may promulgate workplace policies and rules. Executive agrees to fully
comply with all such policies and rules, and understands that failure to do so may result in a disciplinary action up to and including immediate discharge for Cause. 
 Section 2. Term. As used herein, the “Term” means the period commencing as of the consummation date of an underwritten initial public offering of not less than [—] shares of Company common stock not later than [—] (such date of consummation, the “Effective Date”), and such offering, the
“Offering”, and ending on [—]. The Term shall be automatically extended for successive one-year periods unless Executive or the Company gives written notice of termination on or
before the 30th day prior to the expiration of any Term of its desire not to renew the Term. Any such renewal shall be upon the terms and conditions set forth herein unless otherwise agreed between the Company and Executive. In the event that the
Company gives written notice that it does not intend to renew the Term, following the end of the Term, the Company shall pay to Executive an amount equal to one-twelfth of Executive’s annual Salary hereunder (at the rate then in effect) payable
monthly in accordance with the Company’s existing payroll practices for the period commencing on the Termination Date and ending 12 months after the Termination Date. As a condition to the Company’s obligations, if any, to make severance
payments under this Section 2, Executive shall have executed, delivered and revoked a general release in the form attached hereto as Exhibit A. For the avoidance of doubt, this Agreement shall have no force or effect until the Effective Date.

 Section 3. Compensation. Executive shall be entitled to the following compensation: 

(a) The Company agrees to pay to Executive a salary in cash (the “Salary”), as compensation for the services to be
performed by Executive, at the rate of $200,000 per calendar year, paid in accordance with the Company’s customary payroll procedures and subject to customary withholding. During the Term, the Board shall have the right to increase, but not
decrease, the Salary. Executive’s salary as in effect from time to time shall constitute the “Salary” for purposes of this Agreement. 

  
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 (b) The Company shall reimburse Executive for all reasonable expenses incurred by Executive
in the course of performing Executive’s duties under this Agreement that are consistent with the Company’s policies in effect from time to time with respect to travel, entertainment and other business expenses, subject to the
Company’s requirements with respect to reporting and documentation of such expenses. 
 (c) (i) The Company shall cause the
grant to Executive under a compensatory equity incentive plan to be adopted by the Company prior to the Effective Date of restricted shares of the Company’s Class A Common Stock in an amount equal to 3% of the Company’s enterprise
value as determined immediately following consummation of the Offering (the “Award”), vesting, as set forth below, subject in each case to Executive’s continued employment on the relevant vesting date: 

 

			
	 Number of Shares
	  	 Vesting Date

	20%	  	Six-month anniversary of the Effective Date
	20%	  	October 1, 2013
	20%	  	October 1, 2014
	20%	  	October 1, 2015
	20%	  	October 1, 2016

 (ii) Executive shall be eligible to participate in any equity incentive plan to be adopted in connection
with the Offering, in accordance with its terms. Executive shall be eligible for an annual bonus and long term incentive awards as determined at the sole discretion of the Company’s board of directors (the “Board”). 

(d) Executive shall be entitled to all rights and benefits for which Executive shall be eligible under any retirement, retirement
savings, profit-sharing, pension or welfare benefit plan, life, disability, health, dental, hospitalization and other forms of insurance and all other so-called “fringe” benefits or perquisites (except for with respect to any plan that
provides severance or other similar benefits), on the same terms that the Company provides to any other similarly situated senior Company executive (subject to all restrictions on participation that may apply under federal and state tax laws).

 Section 4. Termination.  
 (a) Events of Termination. Executive’s employment with the Company shall terminate (the date of such termination being the “Termination Date”) immediately upon any of the
following: 
 (i) Executive’s death (“Termination Upon Death”); 

  
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 (ii) the effective date of a written notice sent to Executive stating the
Company’s determination, made in good faith, that due to a mental or physical condition, Executive has been unable and failed to substantially render the services to be provided by Executive to the Company for a period of at least 180 days out
of any consecutive 360 days (“Termination For Disability”); 
 (iii) the effective date of a
written notice sent to Executive stating the Company’s determination, made in good faith, that it is terminating Executive’s employment for Cause (as defined below) (“Termination For Cause”); 

(iv) the effective date of a notice sent to Executive stating that the Company is terminating Executive’s employment
without Cause, which notice can be given by the Company at any time after the Effective Date at the Company’s sole discretion, for any reason or for no reason (“Termination Without Cause”); 

(v) the effective date of a notice (other than a notice delivered pursuant to Section 4(a)(vi) of this Agreement)
sent to the Company from Executive stating that Executive is electing to terminate Executive’s employment with the Company without Good Reason (“Resignation Without Good Reason”); or 

(vi) the effective date of a written notice to Company stating Executive’s determination, made in good faith, that a
Good Reason Event (as defined below) has occurred within 30 days preceding such notice and as a consequence Executive is electing to terminate Executive’s employment hereunder for Good Reason (“Resignation For Good Reason”);
provided, however, that Executive will give the Company 30 days to cure such Good Reason Event, and if the Company fails to cure such Good Reason Event within 30 days after Executive gives written notice of resignation hereunder, then
Executive may immediately terminate Executive’s employment with the Company, and such termination will be a Resignation For Good Reason hereunder; provided, further, that Executive’s termination shall be deemed a Termination
For Cause if the Company has delivered to Executive written notice of any act or omission that, if not cured, would constitute Cause at any time preceding the notice provided by Executive hereunder. 

As used herein, the term “Cause” shall mean (i) commission of a willful act of dishonesty in the course of
Executive’s duties hereunder, (ii) conviction by a court of competent jurisdiction of, or plea of no contest to, a crime constituting a felony or conviction in respect of, or plea of no contest to, any act involving fraud, dishonesty or
moral turpitude, (iii) Executive’s performance under the influence 

  
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of controlled substances (other than those taken pursuant to a medical doctor’s orders), or continued habitual intoxication, during working hours, (iv) frequent or extended, and
unjustifiable, absenteeism, (v) Executive’s personal misconduct or refusal to perform duties and responsibilities or to carry out directives of the Company, which, if capable of being cured shall not have been cured, within 5 days after
the Company shall have advised Executive in writing of its intention to terminate Executive’s employment, (vi) serious neglect or misfeasance by Executive in performance of Executive’s duties that, in the reasonable judgment of the
Board, has resulted in, or may reasonably be expected to have, an adverse effect on the business or reputation of the Company or any of its subsidiaries or affiliates, or (vii) material non-compliance with the terms of this Agreement.

 As used herein, the term “Good Reason Event” shall mean (i) a material adverse change in the
responsibilities or duties of Executive as set forth in this Agreement without Executive’s prior consent at a time when there are no circumstances pending that would permit the Board to terminate Executive for Cause, (ii) any reduction in
the Salary or a material reduction in Executive’s benefits (other than (x) a reduction in Salary that is the result of an administrative or clerical error, and which is cured within 15 business days after the Company receives notice of
such failure or (y) a reduction in Salary or benefits that are generally applicable to all members of the Company’s senior management) or (iii) a material breach by the Company of this Agreement that is not cured within 30 days
following the Company’s receipt of written notice of such breach from Executive. 
 (b) Effect of Termination.

 (i) Death or Disability. In the event of Termination Upon Death or Termination For Disability pursuant
to Sections 4(a)(i) and 4(a)(ii) of this Agreement, Executive (or Executive’s legal representative) shall be entitled to receive in cash the following: 
 (A) an amount equal to any earned but unpaid Salary owing by the Company to Executive as of the Termination Date (the “Accrued Salary”). 

(B) to the extent set forth in any written management bonus plan, an amount equal to the pro rata portion, determined as
of the Termination Date, of any bonus to which Executive would have been entitled had Executive been employed by the Company at the time such bonus would have otherwise been paid (the “Accrued Bonus”). 

  
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 (C) The shares of unvested Common Stock subject to the Award shall will
become fully vested and non-forfeitable as of the Termination Date. 
 Nothing contained herein shall be deemed to limit or abrogate any
insurance or other similar benefits available to Executive. 
 (ii) Termination For Cause. In the event of
a Termination For Cause pursuant to Section 4(a)(iii) of this Agreement, Executive shall be entitled to receive in cash an amount equal to any Accrued Salary. 

(iii) Termination Without Cause and Resignation For Good Reason. In the event of Termination Without Cause or
Resignation For Good Reason pursuant to Sections 4(a)(iv) and 4(a)(vi) of this Agreement, Executive shall be entitled to receive in cash, subject to Section 4(c)(ii) of this Agreement: 

(A) an amount equal to any Accrued Salary; 

(B) an amount equal to any Accrued Bonus; 

(C) an amount equal to one-twelfth of Executive’s annual Salary hereunder (at the rate then in effect) payable
monthly for the period commencing on the Termination Date and ending 12 months after the Termination Date (collectively, the “Severance Payments”); and 

(E) The shares of unvested Class A Common Stock subject to the Award shall become fully vested and non-forfeitable as
of the Termination Date. 
 (iv) Resignation Without Good Reason. In the event of Resignation Without Good
Reason pursuant to Section 4(a)(v) of this Agreement, Executive shall be entitled to receive in cash an amount equal to any Accrued Salary. 
 (v) Upon Termination For Any Reason. In the event of any termination, Executive shall be entitled to receive: 

(A) any unpaid reasonable, reimbursable business expenses incurred by Executive in the course of performing
Executive’s duties under this Agreement that were incurred in a manner consistent with the Company’s policies in effect from time to time with respect to travel, entertainment and other business expenses, subject to the Company’s
requirements with 

  
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respect to incurring, reporting and documenting such expenses; and 
 (B) benefits under the Company’s benefit plans of general application as shall be determined under the provisions of those plans. 

(c) Additional Provisions. 
 (i) Any amounts to be paid pursuant to this Section 4 shall be paid in accordance with the Company’s existing payroll or bonus payment practices, as applicable. 

(ii) As a condition to the Company’s obligations, if any, to make any Accrued Bonus and Severance Payments provided
under this Section 4, Executive shall have executed, delivered and not revoked a general release in the form attached hereto as Exhibit A. 
 (iii) Notwithstanding any provision of this Agreement, the obligations and commitments under Section 5 of this Agreement shall survive and continue in full force and effect in accordance with their
terms notwithstanding any termination of Executive’s employment for any reason or termination of this Agreement for any reason. 
 (iv) Notwithstanding anything in this Agreement to the contrary, the Company shall have no obligation to pay any amounts payable under Sections 4(b)(i)(A), 4(b)(iii)(B) or 4(b)(iii)(C) of this Agreement
during such times as Executive is in breach of Section 5 of this Agreement, after the Company provides Executive with notice of such breach. 
 (v) Executive agrees that termination of Executive’s employment for any reason shall, with no further action by Executive required, constitute Executive’s resignation, as of the Termination Date
and to the extent applicable, from all positions as an officer, director or representative of the Company and any subsidiary or affiliate of the Company. 
 (vi) Any unvested shares of Class A Common Stock subject to the Award shall become fully vested and non-forfeitable in the event that Michael Kosloske ceases to be either the Chief Executive Officer
of the Company or the Chairman of the Company’s board of directors. 
 Section 5. Noncompetition, Nonsolicitation
And Confidentiality. 
 (a) Definitions. 

  
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 “Company’s Business” means (i) developing and administering
web-based individual health insurance plans and ancillary health insurance products, (ii) designing and structuring data-driven insurance products on behalf of the Company’s insurance carrier, (iii) marketing insurance products
through the Company’s distribution networks, (iv) managing member relations through the Company’s technology platform, and (v) any other business or commercial activity conducted on or after the Effective Date, in each case as
conducted by the Company or any subsidiary or affiliate of the Company. 
 “Competitor” means any company,
other entity or association or individual that directly or indirectly is engaged in the Company’s Business. 

“Confidential Information” means any confidential information with respect to the Company’s Business and/or the
businesses of its clients or customers, including, but not limited to: the trade secrets of the Company; products or services; standard proposals; standard submissions, surveys and analyses; Commercial Lines Quality Assurance Manual; Claims Services
Department Procedures and Quality Assurance Manual; Surety Quality Assurance Manual; policy forms; fees, costs and pricing structures; marketing information; advertising and pricing strategies; analyses; reports; computer software, including
operating systems, applications and program listings; flow charts; manuals and documentation; data bases; all copyrightable works; the Company’s existing and prospective clients and customers, their addresses or other contact information and/or
their confidential information; existing and prospective client and customer lists and other related data; expiration periods; policy numbers; coverage specifications; daily reports and related correspondence; premium renewal notices; and all
similar and related information in whatever form. The term Confidential Information does not include, and there shall be no obligation hereunder with respect to, information that (i) is generally available to the public on the date of this
Agreement, (ii) becomes generally available to the public other than as a result of a disclosure by Executive not otherwise permissible hereunder or (iii) Executive learns from other sources where, to Executive’s knowledge, such
sources have not violated their confidentiality obligation to the Company or any other applicable obligation of confidentiality. 
 (b) Noncompetition. Executive covenants and agrees that during the period commencing on the Effective Date and ending two years following the Termination Date (the “Restricted
Period”), Executive will not, directly or indirectly, own, manage, operate, control, render service to, or participate in the ownership, management, operation or control of any Competitor anywhere in the United States of America;
provided, however, that Executive shall be entitled to own shares of stock of any corporation having a class of equity securities actively traded on a national securities exchange or on the Nasdaq Stock Market which represent, in the
aggregate, not more than 1% of such corporation’s fully-diluted shares. 

  
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 (c) Nonsolicitation of Employees. Executive covenants and agrees that during the
Restricted Period, Executive will not, directly or indirectly, employ or solicit, or receive or accept the performance of services by any then current officer, manager, employee or independent contractor of the Company or any subsidiary or affiliate
of the Company, or in any way interfere with the relationship between the Company or any subsidiary or affiliate of the Company, on the one hand, and any such officer, manager, employee or independent contractor, on the other hand. 

(d) Nonsolicitation of Customers and Vendors. Executive covenants and agrees that during the Restricted Period, Executive will
not, directly or indirectly, induce, or attempt to induce, any customer, salesperson, distributor, supplier, vendor, manufacturer, representative, agent, jobber, licensee or other person transacting business with the Company or any subsidiary or
affiliate of the Company (collectively the “Customers” and “Vendors”) to reduce or cease doing business with the Company or any such subsidiary or affiliate of the Company, or in any way to interfere with the
relationship between any such Customer or Vendor, on the one hand, and the Company or any subsidiary or affiliate of the Company, on the other hand. 
 (e) Representations and Covenants by Executive. Executive represents and warrants that: (i) Executive’s execution, delivery and performance of this Agreement do not and will not conflict
with, breach, violate or cause a default under any contract, agreement, instrument, order, judgment or decree to which Executive is a party or by which Executive is bound; (ii) Executive is not a party to or bound by any employment agreement,
noncompete agreement or confidentiality agreement with any other person or entity (other than the Company) and Executive is not subject to any other agreement that would prevent Executive from performing Executive’s duties for the Company or
otherwise complying with this Agreement; (iii) Executive is not subject to or in breach of any nondisclosure agreement, including any agreement concerning trade secrets or confidential information owned by any other party; and (iv) upon
the execution and delivery of this Agreement by the Company, this Agreement shall be the valid and binding obligation of Executive, enforceable in accordance with its terms. 
 (f) Nondisclosure of Confidential Information. Executive hereby acknowledges and represents that Executive has consulted with independent legal counsel regarding Executive’s rights and
obligations under this Agreement and that Executive fully understands the terms and conditions contained herein and Executive agrees that Executive will not, directly or indirectly: (i) use, disclose, reverse engineer or otherwise exploit for
Executive’s own benefit or for the benefit of anyone other than the Company the Confidential Information except as authorized by the Company; (ii) during Executive’s employment with the Company, use, disclose, or reverse engineer
(x) any confidential information or trade secrets of any former employer or third party, or (y) any works of authorship 

  
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developed in whole or in part by Executive during any former employment or for any other party, unless authorized in writing by the former employer or third party; or (iii) upon
Executive’s resignation or termination (x) retain Confidential Information, including any copies existing in any form (including electronic form), that are in Executive’s possession or control, or (y) destroy, delete or alter the
Confidential Information without the Company’s consent. Notwithstanding the foregoing, Executive may use the Confidential Information in the course of performing Executive’s duties on behalf of the Company or any subsidiary or affiliate of
the Company as described hereunder, provided that such use is made in good faith. Executive will immediately surrender possession of all Confidential Information to Company upon any suspension or termination of Executive’s employment
with Company for any reason. 
 (g) Inventions and Patents. Executive acknowledges that all (i) inventions,
innovations, improvements, developments, methods, designs, analysis, drawings, reports, processes, novel concepts and all similar or related information (whether or not patentable) that relate to the Company’s or any of its subsidiary’s or
affiliate’s actual or anticipated businesses, (ii) research and development and (iii) existing or future products or services that are, to any extent, conceived, developed or made by Executive while employed by the Company or any
subsidiary or affiliate of the Company (“Work Product”) belong to the Company or such subsidiary or affiliate. Executive shall promptly disclose such Work Product to the Board and perform all actions reasonably necessary or
requested by the Board (whether during or after the Term) to establish and confirm such ownership (including, without limitation, executing assignments, consents, powers of attorney and other instruments). 

(h) Miscellaneous. 
 (i) Executive acknowledges that (x) Executive’s position is a position of trust and responsibility with access to Confidential Information of the Company, (y) the Confidential Information,
and the relationship between the Company and each of its employees, Customers and Vendors, are valuable assets of the Company and may not be converted to Executives own use and (z) the restrictions contained in this Section 5 are
reasonable and necessary to protect the legitimate business interests of the Company and will not impair or infringe upon Executive’s right to work or earn a living after Executive’s employment with the Company ends. 

(ii) Each of the foregoing obligations shall be enforceable independent of any other obligation, and the existence of any
claim or cause of action that Executive may have against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of these obligations. 

  
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 (iii) Executive acknowledges that monetary damages will not be an adequate
remedy for the Company in the event of a breach of this Agreement and that it would be impossible for the Company to measure damages in the event of such a breach. Therefore, Executive agrees that, in addition to other rights that the Company may
have at law or equity, the Company is entitled, without posting bond, to an injunction preventing Executive from any breach of this Agreement. 
 (iv) In the event of a breach or violation by Executive during the Restricted Period of any restriction in Section 5(b), (b) or (d) of this Agreement, the Restricted Period shall be tolled
until such breach or violation has been cured. 
 (v) The parties intend to provide the Company with the maximum
protection possible with respect to its Customers and Vendors. The parties, however, do not intend to include a provision that contravenes the public policy of any state. Therefore, if any provision of this Section 5 is unlawful, against public
policy or otherwise declared void, such provision shall not be deemed part of this Agreement, which otherwise shall remain in full force and effect. If, at the time of enforcement of this Agreement, a court or other tribunal holds that the duration,
scope or area restriction stated herein is unreasonable under the circumstances then existing, the parties agree that the court should enforce the restrictions to the extent it deems reasonable. 

(vi) Executive hereby agrees that prior to accepting employment with any other person or entity during the Term or during
the Restricted Period following the Termination Date, Executive will provide such prospective employer with written notice of the existence of this Agreement and the provisions of this Section 5 of this Agreement, with a copy of such notice
delivered simultaneously to the Company in accordance with Section 10 of this Agreement. 
 (vii)
Notwithstanding any provision of this Agreement, the obligations and commitments of this Section 5 shall survive and continue in full force and effect in accordance with their terms notwithstanding any termination of Executive’s employment
for any reason or termination of this Agreement for any reason. 
 Section 6. Withholding Taxes. Prior to making any
payments required to be made pursuant to this Agreement, the Company may require that the Company be reimbursed in cash for any taxes required by any government to be withheld or otherwise deducted and paid by the Company in respect of such payment
by the Company. In lieu thereof, the Company shall have the right to withhold the amount of such taxes from any sums due or to become due from it to Executive. 

  
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 Section 7. Expenses. In the event of any legal action to enforce
Executive’s or the Company’s rights under this Agreement, each party will be responsible for that party’s attorneys’ fees, expenses and disbursements. 
 Section 8. Assignment. This Agreement is binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns. Executive shall not assign or transfer
any rights or obligations hereunder. The Company shall have the right to assign or transfer any rights or obligations hereunder only to (a) a successor entity in the event of a merger, consolidation, or transfer or sale of all or substantially
all the assets of the Company or (b) an affiliate of the Company. Any purported assignment, other than as provided above, shall be null and void. 
 Section 9. Indemnification. The Company shall indemnify Executive for any act or omission done or not done in performance of Executive’s duties hereunder in accordance with the
Company’s by-laws to the extent provided for any other officer or member of the Board of the Company. The Company’s obligations under this Section 9 shall survive any termination of this Agreement or Executive’s employment
hereunder. 
 Section 10. Notices. All notices, requests, consents and other communications required or permitted to
be given hereunder, shall be in writing and shall be delivered personally or sent by prepaid telegram, telex, facsimile transmission, overnight courier or mailed, first class, postage prepaid by registered or certified mail, as follows: 

 

			
	If to the Company:	  	 Health Insurance Innovations, Inc.
 15438 N. Florida Avenue, Suite 201
 Tampa, Florida, 33613

Attention: Michael Hershberger
 Telecopy: (877)
376-5832

		  	with a copy to (which shall not constitute notice hereunder): Gary Raeckers
		
	If to Executive:	  	To Executive’s address as reflected on the payroll records of the Company

 or such other address as either party shall designate by notice in writing to the other in accordance herewith. Any such
notice shall be deemed given when so delivered personally, by telex, facsimile transmission or telegram, or if sent by overnight courier, one day after delivery to such courier by the sender or if mailed, five days after deposit by the sender in the
U.S. mails. 
 Section 11. Entire Agreement. This Agreement shall constitute the entire agreement between Executive
and the Company concerning the subject matter 

  
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hereof. This Agreement supersedes and preempts any prior employment agreement or other understandings, agreements or representations by or among the parties, written or oral, that may have
related to the subject matter hereof. No provisions of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing, signed by Executive and an authorized officer of the Company.

 Section 12. Governing Law. This Agreement shall be subject to and governed by the laws of the State of Florida,
without giving effect to the principles of conflicts of law under Florida law irrespective of the fact that the parties now or at any time may be residents of or engage in activities in a different state. Employee agrees that in the event of any
dispute or claim arising under this Agreement, jurisdiction and venue shall be vested and proper, and Employee hereby consents to the jurisdiction of any court sitting in the State of Florida, including a federal district court. 

Section 13. Full Settlement. Executive acknowledges and agrees that, subject to the payment by the Company of the benefits
provided in this Agreement to Executive, in no event will the Company nor any subsidiary or affiliate thereof be liable to Executive for damages under any claim of breach of contract as a result of the termination of Executive’s employment. In
the event of any such termination, the Company shall be liable only to provide to Executive, or Executive’s heirs or beneficiaries, the benefits specified in this Agreement. 

Section 14. Strict Compliance. Executive’s or the Company’s failure to insist upon strict compliance with any
provision of this Agreement or the failure to assert any right Executive or the Company may have hereunder shall not be deemed to be a waiver of such provision or right or any other provision or right of this Agreement. The waiver, whether express
or implied, by either party of a violation of any of the provisions of this Agreement shall not operate or be construed as a waiver of any subsequent violation of any such provision. 

Section 15. Creditor Status. No benefit or promise hereunder shall be secured by any specific assets of the Company.
Executive shall have only the rights of an unsecured general creditor of the Company in seeking satisfaction of such benefits or promises. 
 Section 16. Section 409A. This Agreement is intended to comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (“Section
409A”), and shall be construed accordingly. Any payments or distributions to be made to Executive under this Agreement upon a separation from service of amounts classified as “nonqualified deferred compensation” for purposes of
Section 409A, shall in no event be made or commence until six months after such separation from service if Executive is determined to be a specified Executive of a public company (all as determined under Section 409A).

  
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Each payment of nonqualified deferred compensation under this Agreement shall be treated as a separate payment for purposes of Section 409A. Any reimbursements made pursuant to this
Agreement shall be paid as soon as practicable but no later than 90 days after Executive submits evidence of such expenses to the Company (which payment date shall in no event be later than the last day of the calendar incurred). The amount of such
reimbursements paid and any in-kind benefits the year following the calendar year in which the expense was provided during any calendar year shall not affect the reimbursements paid or in-kind benefits provided in any other calendar year, and the
right to any such payments and benefits shall not be subject to liquidation or exchange for another payment or benefit. 

Section 17. Cooperation. Executive agrees to provide assistance to and cooperate with the Company upon its reasonable request
with respect to matters within the scope of Executive’s duties and responsibilities during the Restricted Period. During such Period, the Company shall, to the maximum extent coordinate or cause any such request with Executive’s other
commitments and responsibilities to minimize the degree to which such request interferes with such commitments and responsibilities. The Company agrees that it will reimburse Executive for reasonable documented travel expenses (i.e., travel,
meals and lodging) that Executive may incur in providing assistance to the Company hereunder. 
 Section 18.
Non-disparagement. Executive agrees to not make any statements, written or oral, while employed by the Company and thereafter, which would be reasonably likely to disparage or damage the Company, its affiliates or the personal or professional
reputation of any present or former employees, officers or members of the managing or directorial boards or committees of the Company or its affiliates. The Company agrees that it will instruct each of its officers and members of its managing board
not to make any disparaging communication regarding Executive, and no director, officer or employee of the Company will be authorized on the Company’s behalf to make any such disparaging communications regarding Executive. 

Section 19. Recoupment. If the Company is required to prepare an accounting restatement due to the material noncompliance of
the Company, as a result of misconduct, with any financial reporting requirement under the securities laws, and if the Executive knowingly or grossly negligently engaged in the misconduct, or knowingly or grossly negligently failed to prevent the
misconduct, or if the Executive is one of the individuals subject to automatic forfeiture under, Section 304 of the United States Sarbanes-Oxley Act of 2002 (and not otherwise exempted), the Executive shall reimburse the Company the amount of
any payment in settlement of any earned or accrued during the twelve-month period following the first public issuance or filing with the United States Securities and Exchange Commission (whichever first occurred) of the financial document not in

  
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compliance with such financial reporting requirement. Such payments shall be subject to repayment to or recoupment (clawback) by the Company in accordance with such policies and procedures as the
Committee or Board may adopt from time to time, including policies and procedures to implement applicable law (including. but not limited to Section 954 of the Dodd-Frank Act), stock market or exchange rules and regulations or accounting or tax
rules and regulations. 
 Section 20. Survival. Any provision of this Agreement that is expressly or by implication
intended to survive the termination of this Agreement shall survive or remain in effect after the termination of this Agreement. 
 Section 21. Counterparts. This Agreement may be executed in two or more counterparts, anyone of which need not contain the signature of more than one party, but all such counterparts taken
together shall constitute one and the same agreement. 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year
first written above. 
  

			
	 HEALTH INSURANCE
 INNOVATIONS, INC.

	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 
			
	
	 EXECUTIVE
  

	 Michael D. Hershberger

 [SIGNATURE PAGE TO EMPLOYMENT AGREEMENT] 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year
first written above. 
  

			
	 HEALTH INSURANCE
 INNOVATIONS, INC.

	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 
			
	
	 EXECUTIVE
  

	 Michael D. Hershberger

 [SIGNATURE PAGE TO EMPLOYMENT AGREEMENT] 

 EXHIBIT A 
 FORM OF RELEASE 
 This RELEASE (“Release”) is granted
effective as of the      day of             , 20      by
                     (the “Executive”) in favor of Health Insurance Innovations, Inc. (the “Company”) and the other
Released Parties (as defined below). This is the Release referred to in the Employment Agreement, dated as of [                    ], between the
Company and the Executive (the “Employment Agreement”). The Executive gives this Release in consideration of the Company’s promises and covenants contained in the Employment Agreement, with respect to which this Release is an
integral part. 
 1. Release of the Company. The Executive, for himself, his successors, assigns, attorneys, and all
those entitled to assert his rights, now and forever hereby releases and discharges the Company and its respective officers, directors, stockholders, trustees, Executives, agents, parent corporations, subsidiaries, affiliates, estates, successors,
assigns and attorneys (the “Released Parties”), from any and all claims, actions, causes of action, sums of money due, suits, debts, liens, covenants, contracts, obligations, costs, expenses, damages, judgments, agreements,
promises, demands, claims for attorney’s fees and costs, or liabilities whatsoever, in law or in equity, which the Executive ever had or now has against the Released Parties, arising by reason of or in any way connected with or which may be
traced either directly or indirectly to the employment relationship which existed between the Company or any of its parents, subsidiaries, affiliates, or predecessors and the Executive, or the termination of that relationship, that the Executive
has, had or purports to have, from the beginning of time to the date of this Release, whether known or unknown, that now exists, no matter how remotely they may be related to the aforesaid employment relationship including but not limited to claims
for employment discrimination under federal or state law, except as provided in Paragraph 2; claims arising under Title VII of the Civil Rights Act, 42 U.S.C. § 2000(e), et seq. or the Americans With Disabilities Act, 42 U.S.C. §
12101, et seq.; claims for statutory or common law wrongful discharge, including any claims arising under the Fair Labor Standards Act, 29 U.S.C. § 201, et seq.; claims for attorney’s fees, expenses and costs; claims for
defamation; claims for wages or vacation pay; claims for benefits, including any claims arising under the Executive Retirement Income Security Act, 29 U.S.C. § 1001, et seq.; and provided, however, that nothing herein shall
release the Company of its obligations to the Executive under the Employment Agreement or any other contractual obligations between the Company or its affiliates and the Executive, or any indemnification obligations to the Executive under the
Company’s bylaws or operating agreement or federal, state or local law or otherwise. 
 2. Release of Claims Under Age
Discrimination in Employment Act. Without limiting the generality of the foregoing, the Executive agrees that by 

[SIGNATURE PAGE TO EMPLOYMENT AGREEMENT] 

 
executing this Release, he has released and waived any and all claims he has or may have as of the date of this Release for age discrimination under the Age Discrimination in Employment Act, 29
U.S.C. § 621, et seq. It is understood that the Executive has been advised to consult with an attorney prior to executing this Release; that he in fact has consulted a knowledgeable, competent attorney regarding this Release; that he
may, before executing this Release, consider this Release for a period of 21 calendar days; and that the consideration he receives for this Release is in addition to amounts to which he was already entitled. It is further understood that this
Release is not effective until seven calendar days after the execution of this Release and that the Executive may revoke this Release within seven calendar days from the date of execution hereof. 

The Executive agrees that he has carefully read this Release and is signing it voluntarily. The Executive acknowledges that he has had 21
days from receipt of this Release to review it prior to signing or that, if the Executive is signing this Release prior to the expiration of such 21- day period, the Executive is waiving his right to review the Release for such full 21-day period
prior to signing it. The Executive has the right to revoke this release within seven days following the date of its execution by him. However, if the Executive revokes this Release within such seven-day period, no severance benefit will be payable
to him under the Employment Agreement and he shall return to the Company any such payment received prior to that date. 
 THE
EXECUTIVE HAS CAREFULLY READ THIS RELEASE AND ACKNOWLEDGES THAT IT CONSTITUTES A GENERAL RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS AGAINST THE COMPANY UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT. THE EXECUTIVE ACKNOWLEDGES THAT HE HAS HAD A FULL
OPPORTUNITY TO CONSULT WITH AN ATTORNEY OR OTHER ADVISOR OF HIS CHOOSING CONCERNING HIS EXECUTION OF THIS RELEASE AND THAT HE IS SIGNING THIS RELEASE VOLUNTARILY AND WITH THE FULL INTENT OF RELEASING THE COMPANY FROM ALL SUCH CLAIMS. 

 

	
	  
  
 Name of Executive:

	
	Date:                     

  
 19Bright Horizons Family Solutions Inc. 2012 Omnibus Long-Term Incentive Plan

 Exhibit 4.8 
 BRIGHT HORIZONS FAMILY SOLUTIONS INC. 
 2012 OMNIBUS LONG-TERM INCENTIVE
PLAN 
  

	1.	DEFINED TERMS 

Exhibit A, which is incorporated by reference, defines the terms used in the Plan and sets forth certain operational rules related
to those terms. 
  

	2.	PURPOSE 

 The Plan has
been established to advance the interests of the Company by providing for the grant to Participants of Stock-based and other incentive Awards. 
  

	3.	ADMINISTRATION 

 The
Administrator has discretionary authority, subject only to the express provisions of the Plan, to interpret the Plan; determine eligibility for and grant Awards; determine, modify or waive the terms and conditions of any Award; prescribe forms,
rules and procedures relating to the Plan; and otherwise do all things necessary or appropriate to carry out the purposes of the Plan. Determinations of the Administrator made under the Plan will be conclusive and will bind all parties. 

 

	4.	LIMITS ON AWARDS UNDER THE PLAN 

 (a) Number of Shares. The maximum number of shares of Stock that may be delivered in satisfaction of Awards under the Plan is five million (5,000,000) shares. Up to the total number of
shares available for awards to employee Participants may be issued in satisfaction of ISOs, but nothing in this Section 4(a) will be construed as requiring that any, or any fixed number of, ISOs be awarded under the Plan. For purposes of this
Section 4(a), the number of shares of Stock delivered in satisfaction of Awards will be determined, for the avoidance of doubt, without including any shares of Stock underlying the portion of any Award that is settled in cash or that otherwise
expires, terminates or is forfeited prior to the issuance of Stock thereunder. Any shares of Stock withheld by the Company in satisfaction of the payment of the exercise price of an Award or in satisfaction of tax withholding requirements with
respect to the Award shall be treated as having been delivered under the Plan. To the extent consistent with the requirements of Section 422 and other applicable requirements (including applicable stock exchange requirements), Stock issued
under Substitute Awards shall not reduce the number of shares available for Awards under the Plan. The shares which may be delivered under Substitute Awards shall be in addition to the limitations set forth in this Section 4(a) on the number of
shares available for issuance under the Plan, and such Substitute Awards shall not be subject to the per-Participant Award limits described in Section 4(c) below. 
 (b) Type of Shares. Stock delivered by the Company under the Plan may be authorized but unissued Stock or previously issued Stock acquired by the Company. 

 (c) Section 162(m) Limits. The following additional limits will apply to
Awards of the specified type granted or, in the case of Cash Awards, payable to any person in any calendar year: 
  

	 	(1)	Stock Options: five-hundred thousand (500,000) shares of Stock. 

 

	 	(2)	SARs: five-hundred thousand (500,000) shares of Stock. 

  

	 	(3)	Awards other than Stock Options, SARs or Cash Awards: two-hundred and fifty thousand (250,000) shares of Stock. 

 

	 	(4)	Cash Awards: two-hundred and fifty thousand dollars ($250,000). 

 In applying the foregoing limits, (i) all Awards of the specified type granted to the same person in the same calendar year will be aggregated and made subject to one limit; (ii) the limits
applicable to Stock Options and SARs refer to the number of shares of Stock subject to those Awards; and (iii) the share limit under clause (3) refers to the maximum number of shares of Stock that may be delivered, under an Award or Awards
of the type specified in clause (3) assuming a maximum payout. The foregoing provisions will be construed in a manner consistent with Section 162(m), including, without limitation, where applicable, the rules under Section 162(m)
pertaining to permissible deferrals of exempt awards. 
  

	5.	ELIGIBILITY AND PARTICIPATION 

 The Administrator will select Participants from among key Employees and directors of, and consultants and advisors to, the Company and its Affiliates. Eligibility for ISOs is limited to individuals
described in the first sentence of this Section 5 who are employees of the Company or of a “parent corporation” or “subsidiary corporation” of the Company as those terms are defined in Section 424 of the Code.
Eligibility for Stock Options other than ISOs is limited to individuals described in the first sentence of this Section 5 who are providing direct services on the date of grant of the Stock Option to the Company or to a subsidiary of the
Company that would be described in the first sentence of Treas. Regs. §1.409A-1(b)(5)(iii)(E). 
  

	6.	RULES APPLICABLE TO AWARDS 

  

	 	(a)	All Awards. 

(1) Award Provisions. The Administrator will determine the terms of all Awards, subject to the limitations provided herein.
By accepting (or, under such rules as the Administrator may prescribe, being deemed to have accepted) an Award, the Participant will be deemed to have agreed to the terms of the Award and the Plan. Notwithstanding any provision of this Plan to the
contrary, Substitute Awards may contain terms and conditions that are inconsistent with the terms and conditions specified herein, as determined by the Administrator. 
 (2) Term of Plan. No Awards may be made after ten years from the Date of Adoption, but previously granted Awards may continue beyond that date in accordance with their terms. 

  
 2 

 (3) Transferability. Neither ISOs nor, except as the Administrator otherwise
expressly provides in accordance with the second sentence of this Section 6(a)(3), other Awards may be transferred other than by will or by the laws of descent and distribution. During a Participant’s lifetime, ISOs (and, except as the
Administrator otherwise expressly provides in accordance with the second sentence of this Section 6(a)(3), SARs and NSOs) may be exercised only by the Participant. The Administrator may permit the gratuitous transfer (i.e., transfer not
for value) of Awards other than ISOs to any transferee eligible to be covered by the provisions of Form S-8 (under the Securities Act of 1933, as amended), subject to such limitations as the Administrator may impose. 

(4) Vesting, etc. The Administrator will determine the time or times at which an Award will vest or become exercisable and
the terms on which a Stock Option or SAR will remain exercisable. Without limiting the foregoing, the Administrator may at any time accelerate the vesting or exercisability of an Award, regardless of any adverse or potentially adverse tax or other
consequences resulting from such acceleration. Unless the Administrator expressly provides otherwise, however, the following rules will apply if a Participant’s Employment ceases: 

(A) Immediately upon the cessation of the Participant’s Employment and except as provided in (B), (C),
(D) or (E) below, each Stock Option and SAR that is then held by the Participant or by the Participant’s permitted transferees, if any, will cease to be exercisable and will terminate and all other Awards that are then held by the
Participant or by the Participant’s permitted transferees, if any, to the extent not already vested will be forfeited. 
 (B) Subject to (C), (D) and (E) below, all Stock Options and SARs held by the Participant or the Participant’s permitted transferees, if any, immediately prior to the cessation of
the Participant’s Employment, to the extent then exercisable, will remain exercisable for the lesser of (i) a period of sixty (60) days or (ii) the period ending on the latest date on which such Stock Option or SAR could have
been exercised without regard to this Section 6(a)(4), and will thereupon immediately terminate. 
 (C)
All Stock Options and SARs held by a Participant or the Participant’s permitted transferees, if any, immediately prior to the Participant’s cessation of Employment by reason of death, to the extent then exercisable, will remain
exercisable for the lesser of (i) the one year period ending with the first anniversary of the Participant’s death or (ii) the period ending on the latest date on which such Stock Option or SAR could have been exercised without regard
to this Section 6(a)(4), and will thereupon immediately terminate. 
 (D) All Stock Options and SARs
held by a Participant or the Participant’s permitted transferees, if any, immediately prior to the Participant’s cessation of Employment by reason of Disability, to the extent then exercisable, will remain exercisable for the lesser of
(i) a period of one hundred and eighty (180) days, or (ii) the period ending on the latest date on which such Stock Option or SAR could have been exercised without regard to this Section 6(a)(4), and will thereupon immediately
terminate. 

  
 3 

 (E) All Stock Options and SARs held by a Participant or the
Participant’s permitted transferees, if any, immediately prior to the Participant’s cessation of Employment by reason of Retirement, to the extent then exercisable, will remain exercisable for the lesser of (i) a period of ninety
(90) days, or (ii) the period ending on the latest date on which such Stock Option or SAR could have been exercised without regard to this Section 6(a)(4), and will thereupon immediately terminate. 

(F) All Stock Options and SARs (whether or not exercisable) held by a Participant or the Participant’s
permitted transferees, if any, immediately prior to the cessation of the Participant’s Employment will immediately terminate upon such cessation of Employment if the termination is for Cause or occurs in circumstances that in the sole
determination of the Administrator would have constituted grounds for the Participant’s Employment to be terminated for Cause. 
 (5) Additional Restrictions. The Administrator may cancel, rescind, withhold or otherwise limit or restrict any Award at any time if the Participant is not in compliance with all applicable
provisions of the Award agreement and the Plan, or if the Participant breaches any agreement with the Company or its Affiliates with respect to non-competition, non-solicitation or confidentiality. Without limiting the generality of the foregoing,
the Administrator may recover Awards made under the Plan and payments under or gain in respect of any Award to the extent required to comply with (i) Section 10D of the Securities Exchange Act of 1934, as amended, or any stock exchange or
similar rule adopted under said Section or (ii) any applicable Company clawback or recoupment policy as in effect from time to time. 
 (6) Taxes. The delivery, vesting and retention of Stock, cash or other property under an Award are conditioned upon full satisfaction by the Participant of all tax withholding requirements
with respect to the Award. The Administrator will prescribe such rules for the withholding of taxes as it deems necessary. The Administrator may, but need not, hold back shares of Stock from an Award or permit a Participant to tender previously
owned shares of Stock in satisfaction of tax withholding requirements (but not in excess of the minimum withholding required by law). 
 (7) Dividend Equivalents, Etc. The Administrator may provide for the payment of amounts (on terms and subject to conditions established by the Administrator) in lieu of cash dividends or
other cash distributions with respect to Stock subject to an Award whether or not the holder of such Award is otherwise entitled to share in the actual dividend or distribution in respect of such Award. Any entitlement to dividend equivalents or
similar entitlements will be established and administered either consistent with an exemption from, or in compliance with, the requirements of Section 409A. Dividends or dividend equivalent amounts payable in respect of Awards that are subject
to restrictions may be subject to such limits or restrictions as the Administrator may impose. 
 (8) Rights
Limited. Nothing in the Plan will be construed as giving any person the right to continued employment or service with the Company or its Affiliates, or any rights as a stockholder except as to shares of Stock actually issued under the Plan.
The loss of existing or potential profit in Awards will not constitute an element of damages in the event of termination of Employment for any reason, even if the termination is in violation of an obligation of the Company or any Affiliate to the
Participant. 

  
 4 

 (9) Section 162(m). In the case of any Performance Award (other than a
Stock Option or SAR) intended to qualify for the performance-based compensation exception under Section 162(m), the Administrator will establish the applicable Performance Criterion or Criteria in writing no later than ninety (90) days
after the commencement of the period of service to which the performance relates (or at such earlier time as is required to qualify the Award as performance-based under Section 162(m)) and, prior to the event or occurrence (grant, vesting or
payment, as the case may be) that is conditioned on the attainment of such Performance Criterion or Criteria, will certify whether it or they have been attained. The preceding sentence will not apply to an Award eligible (as determined by the
Administrator) for exemption from the limitations of Section 162(m) by reason of the post-initial public offering transition relief in Section 1.162-27(f) of the Treasury Regulations. 

(10) Coordination with Other Plans. Awards under the Plan may be granted in tandem with, or in satisfaction of or
substitution for, other Awards under the Plan or awards made under other compensatory plans or programs of the Company or its Affiliates. For example, but without limiting the generality of the foregoing, awards under other compensatory plans or
programs of the Company or its Affiliates may be settled in Stock (including, without limitation, Unrestricted Stock) if the Administrator so determines, in which case the shares delivered will be treated as awarded under the Plan (and will reduce
the number of shares thereafter available under the Plan in accordance with the rules set forth in Section 4). In any case where an award is made under another plan or program of the Company or its Affiliates and such award is intended to
qualify for the performance-based compensation exception under Section 162(m), and such award is settled by the delivery of Stock or another Award under the Plan, the applicable Section 162(m) limitations under both the other plan or
program and under the Plan will be applied to the Plan as necessary (as determined by the Administrator) to preserve the availability of the Section 162(m) performance-based compensation exception with respect thereto. 

(11) Section 409A. Each Award will contain such terms as the Administrator determines, and will be construed and
administered, such that the Award either qualifies for an exemption from the requirements of Section 409A or satisfies such requirements. 
 (12) Fair Market Value. In determining the fair market value of any share of Stock under the Plan, the Administrator will make the determination in good faith consistent with the rules of
Section 422 and Section 409A to the extent applicable. 
 (b) Stock Options and SARs. 

(1) Time And Manner Of Exercise. Unless the Administrator expressly provides otherwise, no Stock Option or SAR will be
deemed to have been exercised until the Administrator receives a notice of exercise (in form acceptable to the Administrator), which may be an electronic notice, signed (including electronic signature in form acceptable to the Administrator) by the
appropriate person and accompanied by any payment required under the Award. A Stock Option or SAR exercised by any person other than the Participant will not be deemed to have been exercised until the Administrator has received such evidence as it
may require that the person exercising the Award has the right to do so. 

  
 5 

 (2) Exercise Price. The exercise price (or the base value from which
appreciation is to be measured) of each Award requiring exercise will be no less than 100% (or in the case of an ISO granted to a ten-percent shareholder within the meaning of subsection (b)(6) of Section 422, 110%) of the fair market value of
the Stock subject to the Award, determined as of the date of grant, or such higher amount as the Administrator may determine in connection with the grant. Except in connection with a corporate transaction involving the Company (which term shall
include, without limitation, any stock dividend, stock split, extraordinary cash dividend, recapitalization, reorganization, merger, consolidation, split-up, spin-off, combination, or exchange of shares), the terms of outstanding Awards may not be
amended to reduce the exercise prices of outstanding Stock Options or the base values from which appreciation under outstanding SARs are to be measured, or cancel, exchange, substitute, buyout or surrender outstanding Stock Options or SARs in
exchange for cash, other awards or Stock Options or SARs with an exercise price that is less than the exercise prices of the original Stock Options or base values of the original SARs other than in accordance with the stockholder approval
requirements of the New York Stock Exchange. 
 (3) Payment Of Exercise Price. Where the exercise of an Award is
to be accompanied by payment, payment of the exercise price will be by cash or check acceptable to the Administrator or by such other legally permissible means, if any, as may be acceptable to the Administrator. 

(4) Maximum Term. Stock Options and SARs will have a maximum term not to exceed ten (10) years
from the date of grant (or five (5) years from the date of grant in the case of an ISO granted to a ten-percent shareholder described in Section 6(b)(2) above); provided, however, that, if a Participant still holding an outstanding but
unexercised NSO or SAR ten (10) years from the date of grant (or, in the case of an NSO or SAR with a maximum term of less than ten (10) years, such maximum term) is prohibited by applicable law or a written policy of the Company
applicable to similarly situated employees from engaging in any open-market sales of Stock, and if at such time the Stock is publicly traded (as determined by the Administrator), the maximum term of such Award will instead be deemed to expire on the
thirtieth (30th) day following the date the
Participant is no longer prohibited from engaging in such open market sales. 
  

	7.	EFFECT OF CERTAIN TRANSACTIONS 

 (a) Mergers, etc. Except as otherwise provided in an Award agreement, the following provisions will apply in the event of a Covered Transaction: 

(1) Assumption or Substitution. If the Covered Transaction is one in which there is an acquiring or surviving entity, the
Administrator may (but, for the avoidance of doubt, need not) provide (i) for the assumption or continuation of some or all outstanding Awards or any portion thereof or (ii) for the grant of new awards in substitution therefor by the
acquirer or survivor or an affiliate of the acquirer or survivor. 

  
 6 

 (2) Cash-Out of Awards. Subject to Section 7(a)(5) below the
Administrator may (but, for the avoidance of doubt, need not) provide for payment (a “cash-out”), with respect to some or all Awards or any portion thereof, equal in the case of each affected Award or portion thereof to the excess, if any,
of (A) the fair market value of one share of Stock (as determined by the Administrator in its reasonable discretion) times the number of shares of Stock subject to the Award or such portion, over (B) the aggregate exercise or purchase
price, if any, under the Award or such portion (in the case of an SAR, the aggregate base value above which appreciation is measured), in each case on such payment terms (which need not be the same as the terms of payment to holders of Stock) and
other terms, and subject to such conditions, as the Administrator determines. 
 (3) Acceleration of Certain Awards.
Subject to Section 7(a)(5) below, the Administrator may (but, for the avoidance of doubt, need not) provide that any Award requiring exercise will become exercisable, in full or in part, and/or that the delivery of any shares of Stock
remaining deliverable under any outstanding Award of Stock Units (including Restricted Stock Units and Performance Awards to the extent consisting of Stock Units) will be accelerated in full or in part, in each case on a basis that gives the holder
of the Award a reasonable opportunity, as determined by the Administrator, following exercise of the Award or the delivery of the shares, as the case may be, to participate as a stockholder in the Covered Transaction. 

(4) Termination of Awards Upon Consummation of Covered Transaction. Except as the Administrator may otherwise determine in
any case, each Award will automatically terminate (and in the case of outstanding shares of Restricted Stock, will automatically be forfeited) upon consummation of the Covered Transaction, other than Awards assumed pursuant to Section 7(a)(1)
above. 
 (5) Additional Limitations. Any share of Stock and any cash or other property delivered pursuant to
Section 7(a)(2) or Section 7(a)(3) above with respect to an Award may, in the discretion of the Administrator, contain such restrictions, if any, as the Administrator deems appropriate to reflect any performance or other vesting conditions
to which the Award was subject and that did not lapse (and were not satisfied) in connection with the Covered Transaction. For purposes of the immediately preceding sentence, a cash-out under Section 7(a)(2) above or acceleration under
Section 7(a)(3) above will not, in and of itself, be treated as the lapsing (or satisfaction) of a performance or other vesting condition. In the case of Restricted Stock that does not vest and is not forfeited in connection with the Covered
Transaction, the Administrator may require that any amounts delivered, exchanged or otherwise paid in respect of such Stock in connection with the Covered Transaction be placed in escrow or otherwise made subject to such restrictions as the
Administrator deems appropriate to carry out the intent of the Plan. 
 (b) Changes in and Distributions With Respect to
Stock. 
 (1) Basic Adjustment Provisions. In the event of a stock dividend, stock split or combination of
shares (including a reverse stock split), recapitalization or other change in the Company’s capital structure that constitutes an equity restructuring within the meaning of FASB ASC 718, the Administrator will make appropriate adjustments to
the maximum number of shares specified in Section 4(a) that may be delivered under the Plan and to the maximum 

  
 7 

 
share limits described in Section 4(c), and will also make appropriate adjustments to the number and kind of shares of stock or securities subject to Awards then outstanding or subsequently
granted, any exercise prices relating to Awards and any other provision of Awards affected by such change. 
 (2) Certain
Other Adjustments. The Administrator may also make adjustments of the type described in Section 7(b)(1) above to take into account distributions to stockholders other than those provided for in Section 7(a) and 7(b)(1), or any
other event, if the Administrator determines that adjustments are appropriate to avoid distortion in the operation of the Plan. 

(3) Continuing Application of Plan Terms. References in the Plan to shares of Stock will be construed to include any stock
or securities resulting from an adjustment pursuant to this Section 7. 
  

	8.	LEGAL CONDITIONS ON DELIVERY OF STOCK 

 The Company will not be obligated to deliver any shares of Stock pursuant to the Plan or to remove any restriction from shares of Stock previously delivered under the Plan until: (i) the Company is
satisfied that all legal matters in connection with the issuance and delivery of such shares have been addressed and resolved; (ii) if the outstanding Stock is at the time of delivery listed on any stock exchange or national market system, the
shares to be delivered have been listed or authorized to be listed on such exchange or system upon official notice of issuance; and (iii) all conditions of the Award have been satisfied or waived. The Company may require, as a condition to
exercise of the Award, such representations or agreements as counsel for the Company may consider appropriate to avoid violation of the Securities Act of 1933, as amended, or any applicable state or non-U.S. securities law. Any Stock required to be
issued to Participants under the Plan will be evidenced in such manner as the Administrator may deem appropriate, including book-entry registration or delivery of stock certificates. In the event that the Administrator determines that Stock
certificates will be issued to Participants under the Plan, the Administrator may require that certificates evidencing Stock issued under the Plan bear an appropriate legend reflecting any restriction on transfer applicable to such Stock, and the
Company may hold the certificates pending lapse of the applicable restrictions. 
  

	9.	AMENDMENT AND TERMINATION 

The Administrator may at any time or times amend the Plan or any outstanding Award for any purpose which may at the time be permitted by
law, and may at any time terminate the Plan as to any future grants of Awards; provided, that except as otherwise expressly provided in the Plan the Administrator may not, without the Participant’s consent, alter the terms of an Award so as to
affect materially and adversely the Participant’s rights under the Award, unless the Administrator expressly reserved the right to do so at the time the Award was granted. Any amendments to the Plan will be conditioned upon stockholder approval
only to the extent, if any, such approval is required by law (including the Code and applicable stock exchange requirements), as determined by the Administrator. 

  
 8 

	10.	OTHER COMPENSATION ARRANGEMENTS 

 The existence of the Plan or the grant of any Award will not in any way affect the Company’s right to Award a person bonuses or other compensation in addition to Awards under the Plan. 

 

	11.	MISCELLANEOUS 

 (a)
Waiver of Jury Trial. By accepting an Award under the Plan, each Participant waives any right to a trial by jury in any action, proceeding or counterclaim concerning any rights under the Plan and any Award, or under any amendment, waiver,
consent, instrument, document or other agreement delivered or which in the future may be delivered in connection therewith, and agrees that any such action, proceedings or counterclaim will be tried before a court and not before a jury. By accepting
an Award under the Plan, each Participant certifies that no officer, representative, or attorney of the Company has represented, expressly or otherwise, that the Company would not, in the event of any action, proceeding or counterclaim, seek to
enforce the foregoing waivers. Notwithstanding anything to the contrary in the Plan, nothing herein is to be construed as limiting the ability of the Company and a Participant to agree to submit disputes arising under the terms of the Plan or any
Award made hereunder to binding arbitration or as limiting the ability of the Company to require any eligible individual to agree to submit such disputes to binding arbitration as a condition of receiving an Award hereunder. 

(b) Limitation of Liability. Notwithstanding anything to the contrary in the Plan, neither the Company, nor any Affiliate,
nor the Administrator, nor any person acting on behalf of the Company, any Affiliate, or the Administrator, will be liable to any Participant or to the estate or beneficiary of any Participant or to any other holder of an Award by reason of any
acceleration of income, or any additional tax (including any interest and penalties), asserted by reason of the failure of an Award to satisfy the requirements of Section 422 or Section 409A or by reason of Section 4999 of the Code,
or otherwise asserted with respect to the Award; provided, that nothing in this Section 11(b) will limit the ability of the Administrator or the Company, in its discretion, to provide by separate express written agreement with a Participant for
any payment in connection with any such acceleration of income or additional tax. 
  

	12.	ESTABLISHMENT OF SUB-PLANS 

 The Administrator may from time to time establish one or more sub-plans under the Plan for purposes of satisfying applicable blue sky, securities or tax laws of various jurisdictions. The Administrator
will establish such sub-plans by adopting supplements to the Plan setting forth (i) such limitations on the Administrator’s discretion under the Plan as it deems necessary or desirable and (ii) such additional terms and conditions not
otherwise inconsistent with the Plan as it deems necessary or desirable. All supplements so established will be deemed to be part of the Plan, but each supplement will apply only to Participants within the affected jurisdiction (as determined by the
Administrator). 

  
 9 

	13.	GOVERNING LAW 

 (a)
Certain Requirements of Corporate Law. Awards will be granted and administered consistent with the requirements of applicable Delaware law relating to the issuance of stock and the consideration to be received therefor, and with the
applicable requirements of the stock exchanges or other trading systems on which the Stock is listed or entered for trading, in each case as determined by the Administrator. 
 (b) Other Matters. Except as otherwise provided by the express terms of an Award agreement, under a sub-plan described in Section 12 or as provided in Section 13(a) above, the
provisions of the Plan and of Awards under the Plan and all claims or disputes arising out of our based upon the Plan or any Award under the Plan or relating to the subject matter hereof or thereof will be governed by and construed in accordance
with the domestic substantive laws of the Commonwealth of Massachusetts without giving effect to any choice or conflict of laws provision or rule that would cause the application of the domestic substantive laws of any other jurisdiction.

 (c) Jurisdiction. By accepting an Award, each Participant will be deemed to (a) have submitted irrevocably
and unconditionally to the jurisdiction of the federal and state courts located within the geographic boundaries of the United States District Court for the District of Massachusetts for the purpose of any suit, action or other proceeding arising
out of or based upon the Plan or any Award; (b) agree not to commence any suit, action or other proceeding arising out of or based upon the Plan or an Award, except in the federal and state courts located within the geographic boundaries of the
United States District Court for the District of Massachusetts; and (c) waive, and agree not to assert, by way of motion as a defense or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the
jurisdiction of the above-named courts that its property is exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that
the Plan or an Award or the subject matter thereof may not be enforced in or by such court. 

  
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 EXHIBIT A 
 Definition of Terms 
 The following terms, when used in the Plan,
will have the meanings and be subject to the provisions set forth below: 
 “Administrator”: The Compensation
Committee, except that the Compensation Committee may delegate (i) to one or more of its members (or one or more other members of the Board (including the full Board)) such of its duties, powers and responsibilities as it may determine;
(ii) to one or more officers of the Company the power to grant Awards to the extent permitted by Section 157(c) of the Delaware General Corporation Law; and (iii) to such Employees or other persons as it determines such ministerial
tasks as it deems appropriate. In the event of any delegation described in the preceding sentence, the term “Administrator” will include the person or persons so delegated to the extent of such delegation. 

“Affiliate”: Any corporation or other entity that stands in a relationship to the Company that would result in the
Company and such corporation or other entity being treated as one employer under Section 414(b) and Section 414(c) of the Code. 
 “Award”: Any or a combination of the following: 

(i) Stock Options. 
 (ii) SARs. 
 (iii) Restricted Stock. 

(iv) Unrestricted Stock. 
 (v) Stock Units, including Restricted Stock Units. 
 (vi)
Performance Awards. 
 (vii) Cash Awards. 

(viii) Awards (other than Awards described in (i) through (vii) above) that are convertible into or otherwise
based on Stock. 
 “Board”: The Board of Directors of the Company. 

“Cash Award”: An Award denominated in cash that has a performance period of greater than (12) months. 

“Cause”: In the case of any Participant who is party to an employment or severance-benefit agreement that contains a
definition of “Cause,” the definition set forth in such agreement will apply with respect to such Participant under the Plan for so long as such agreement is in effect. In the case of any other Participant, “Cause” will mean, as
determined by the Administrator in its reasonable judgment, (i) a substantial failure of the Participant to perform 

  
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the Participant’s duties and responsibilities to the Company or subsidiaries or substantial negligence in the performance of such duties and responsibilities; (ii) the commission by the
Participant of a felony or a crime involving moral turpitude; (iii) the commission by the Participant of theft, fraud, embezzlement, material breach of trust or any material act of dishonesty involving the Company or any of its subsidiaries;
(iv) a significant violation by the Participant of the code of conduct of the Company or its subsidiaries of any material policy of the Company or its subsidiaries, or of any statutory or common law duty of loyalty to the Company or its
subsidiaries; (v) material breach of any of the terms of the Plan or any Award made under the Plan, or of the terms of any other agreement between the Company or subsidiaries and the Participant; or (vi) other conduct by the Participant
that could be expected to be harmful to the business, interests or reputation of the Company. 
 “Code”: The
U.S. Internal Revenue Code of 1986, as from time to time amended and in effect, or any successor statute as from time to time in effect. 
 “Compensation Committee”: The Compensation Committee of the Board. 
 “Company”: Bright Horizons Family Solutions Inc. 

“Covered Transaction”: Any of (i) a consolidation, merger, or similar transaction or series of related
transactions, including a sale or other disposition of stock, in which the Company is not the surviving corporation or which results in the acquisition of all or substantially all of the Company’s then outstanding common stock by a single
person or entity or by a group of persons and/or entities acting in concert, (ii) a sale or transfer of all or substantially all the Company’s assets, or (iii) a dissolution or liquidation of the Company. Where a Covered Transaction
involves a tender offer that is reasonably expected to be followed by a merger described in clause (i) (as determined by the Administrator), the Covered Transaction will be deemed to have occurred upon consummation of the tender offer.

 “Date of Adoption”: The earlier of the date the Plan was approved by the Company’s stockholders or
adopted by the Board, as determined by the Committee. 
 “Disability”: In the case of any Participant who is a
party to an employment or severance-benefit agreement that contains a definition of “Disability,” the definition set forth in such agreement shall apply with respect to such Participant under the Plan for so long as such agreement is in
effect. In the case of any other Participant, “Disability” shall mean a disability that would entitle a Participant to long-term disability benefits under the Company’s long-term disability plan to which the Participant participates.

 “Employee”: Any person who is employed by the Company or an Affiliate. 

“Employment”: A Participant’s employment or other service relationship with the Company and its Affiliates.
Employment will be deemed to continue, unless the Administrator expressly provides otherwise, so long as the Participant is employed by, or otherwise is providing services in a capacity described in Section 5 to the Company or an Affiliate. If
a Participant’s employment or other service relationship is with an Affiliate and that entity ceases to be an Affiliate, the Participant’s Employment will be deemed to have terminated when the entity ceases to be an Affiliate unless the
Participant transfers Employment to the Company or its 

  
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remaining Affiliates. Notwithstanding the foregoing and the definition of “Affiliate” above, in construing the provisions of any Award relating to the payment of “nonqualified
deferred compensation” (subject to Section 409A) upon a termination or cessation of Employment, references to termination or cessation of employment, separation from service, retirement or similar or correlative terms will be construed to
require a “separation from service” (as that term is defined in Section 1.409A-1(h) of the Treasury Regulations) from the Company and from all other corporations and trades or businesses, if any, that would be treated as a single
“service recipient” with the Company under Section 1.409A-1(h)(3) of the Treasury Regulations. The Company may, but need not, elect in writing, subject to the applicable limitations under Section 409A, any of the special elective
rules prescribed in Section 1.409A-1(h) of the Treasury Regulations for purposes of determining whether a “separation from service” has occurred. Any such written election will be deemed a part of the Plan. 

“ISO”: A Stock Option intended to be an “incentive stock option” within the meaning of Section 422. Each
Stock Option granted pursuant to the Plan will be treated as providing by its terms that it is to be an NSO unless, as of the date of grant, it is expressly designated as an ISO. 

“NSO”: A Stock Option that is not intended to be an “incentive stock option” within the meaning of
Section 422. 
 “Participant”: A person who is granted an Award under the Plan. 

“Performance Award”: An Award subject to Performance Criteria. The Administrator in its discretion may grant Performance
Awards that are intended to qualify for the performance-based compensation exception under Section 162(m) and Performance Awards that are not intended so to qualify. 
 “Performance Criteria”: Specified criteria, other than the mere continuation of Employment or the mere passage of time, the satisfaction of which is a condition for the grant,
exercisability, vesting or full enjoyment of an Award. For purposes of Awards that are intended to qualify for the performance-based compensation exception under Section 162(m), a Performance Criterion will mean an objectively determinable
measure or objectively determinable measures of performance relating to any or any combination of the following (measured either absolutely or by reference to an index or indices and determined either on a consolidated basis or, as the context
permits, on a divisional, subsidiary, line of business, project or geographical basis or in combinations thereof): sales; revenues; assets; expenses; earnings before or after deduction for all or any portion of interest, taxes, depreciation,
amortization or equity expense whether or not on a continuing operations or an aggregate or per share basis; return on equity, investment, capital, capital employed or assets; one or more operating ratios; operating income or profit, including on an
after-tax basis; net income; borrowing levels, leverage ratios or credit rating; market share; capital expenditures; cash flow; stock price; stockholder return; sales of particular services; customer acquisition or retention; acquisitions and
divestitures (in whole or in part); joint ventures and strategic alliances; spin-offs, split-ups and the like; reorganizations; or recapitalizations, restructurings, financings (issuance of debt or equity) or refinancing. A Performance Criterion and
any targets with respect thereto determined by the Administrator need not be based upon an increase, a positive or improved result or avoidance of loss. To the extent consistent with the requirements for satisfying the
performance-

  
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based compensation exception under Section 162(m), the Administrator may provide in the case of any Award intended to qualify for such exception that one or more of the Performance Criteria
applicable to such Award will be adjusted in an objectively determinable manner to reflect events (for example, but without limitation, acquisitions or dispositions) occurring during the performance period that affect the applicable Performance
Criterion or Criteria. 
 “Plan”: The Bright Horizons Solutions Corp. 2012 Omnibus Long-Term Incentive Plan, as
from time to time amended and in effect. 
 “Restricted Stock”: Stock subject to restrictions requiring that it
be redelivered or offered for sale to the Company if specified conditions are not satisfied. 
 “Restricted Stock
Unit”: A Stock Unit that is, or as to which the delivery of Stock or cash in lieu of Stock is, subject to the satisfaction of specified performance or other vesting conditions. 

“Retirement”: A Participant’s (i) retirement other than by reason of Disability from service with the Company
upon or after attaining age sixty-five (65) or (ii) earlier retirement other than by reason of Disability from service with the Company with the express consent of the Company at or before the time of such retirement, provided that the
Participant has attained the age of fifty (50) and has been employed by the Company or its subsidiaries for at least fifteen (15) years at the time of such retirement. 

“SAR”: A right entitling the holder upon exercise to receive an amount (payable in cash or in shares of Stock of
equivalent value) equal to the excess of the fair market value of the shares of Stock subject to the right over the base value from which appreciation under the SAR is to be measured. 

“Section 409A”: Section 409A of the Code. 
 “Section 422”: Section 422 of the Code. 
 “Section
162(m)”: Section 162(m) of the Code. 
 “Substitute Awards”: Awards of an acquired company that
are converted, replaced or adjusted in connection with the acquisition. 
 “Stock”: Common stock of the
Company, par value $0.001 per share. 
 “Stock Option”: An option entitling the holder to acquire shares of
Stock upon payment of the exercise price. 
 “Stock Unit”: An unfunded and unsecured promise, denominated in
shares of Stock, to deliver Stock or cash measured by the value of Stock in the future. 
 “Unrestricted Stock”:
Stock not subject to any restrictions under the terms of the Award. 

  
 14

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