Document:

Form of Restricted Stock Unit Agreement

 Exhibit 10.2 
  
 CENTENE CORPORATION 
  
 Restricted Stock Unit Agreement Granted Under 
 Amended and Restated 2003 Stock Incentive Plan 
  
 THIS AGREEMENT is entered into by Centene Corporation, a Delaware corporation (hereinafter the “Company”), and the undersigned employee of the Company (hereinafter the “Participant”). 
  
 WHEREAS, the Participant renders important services to the Company and
acquires access to Confidential Information (as defined below) of the Company in connection with the Participant’s relationship with the Company; and 
  
 WHEREAS, the Company desires to align the long-term interests of its valued employees with those of the Company by providing the ownership interest
granted herein and to prevent former employees whose interest may become adverse to the Company from maintaining an ownership interest in the Company; 
  
 NOW, THEREFORE, in consideration of the foregoing and the mutual agreements herein contained, the parties hereto hereby agree as follows: 
  
 1. Grant of RSUs. 
  
 This Agreement evidences the grant by the Company on
                    , 20     (the “Grant Date”) to the Participant of
             restricted stock units (each an “RSU,” and collectively the “RSUs”) pursuant to the Company’s Amended and Restated 2003 Stock Incentive Plan
(the “Plan”). Each RSU represents the right to receive one share of the common stock, $.001 par value per share, of the Company (“Common Stock”) as provided in this Agreement. The shares of Common Stock that are issuable upon
vesting of the RSUs are referred to in this Agreement as “Shares.” 
  
 2. Vesting. 
  
 Subject to
Section 3 of this Agreement, the RSUs shall vest as to             % of the original number of RSUs on the      anniversary of the Grant Date and as to an
additional             % of the original number of RSUs at the end of each successive      period following the first anniversary of the Grant Date until
the      anniversary of the Grant Date. 
  
 3. Reorganization Event. 
  
 Upon the occurrence of a “Change in Control,” all of the RSUs that (but for the application of this clause) are not vested at the time of the occurrence of such Change in Control event shall vest. A “Change in Control”
shall be deemed to have occurred if any of the events set forth in any one of the following clauses shall occur: (i) any Person (as defined in section 3(a)(9) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and as
such term is modified in sections 13(d) and 14(d) of the Exchange Act), excluding a group of persons including the Participant, is or becomes the “beneficial owner” (as defined in Rule 13(d)(3) under the Exchange Act), directly or
indirectly, of securities of the Company representing forty percent or more of the combined voting power of the Company’s then-outstanding securities; (ii) individuals who, as of the Grant Date, constitute the Board of Directors of the Company
(the “Incumbent Board”), cease for any reason to constitute a majority thereof (provided, however, that an individual becoming a director subsequent to the Grant Date whose election, or nomination for election by the Company’s
stockholders, was approved by at least a majority of the directors then comprising the Incumbent Board shall be included within the definition of Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of
office occurs as a 

 
result of either an actual election contest (or such terms used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act) or other actual or
threatened solicitation of proxies or consents by or on behalf of a person other than the Board of Directors of the Company); or (iii) the stockholders of the Company consummate a merger or consolidation of the Company with any other corporation,
other than a merger or consolidation that would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the
surviving entity) at least fifty percent of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation. 
  
 4. Distribution of Shares. 
  
 (a) Timing of Distribution. The Company will distribute to the
Participant (or to the Participant’s estate in the event of the death of the Participant occurring after a vesting date but before distribution of the corresponding Shares), as soon as administratively practicable after each vesting date, the
Shares represented by RSUs that vested on such vesting date. 
  
 (b) No Fractional Shares. No fractional Shares shall be issuable pursuant to any RSU. In lieu of any fractional shares to which the Participant would otherwise be entitled, the Company shall pay cash in an amount equal to such
fraction multiplied by the Fair Market Value of a share of Common Stock. 
  
 (c) Termination of Employment. In the event that the Participant’s employment with the Company (and any parent or subsidiary thereof) is terminated for any reason by the Company or by the Participant
(including by reason of death or disability, within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986, as amended (the “Code”)), the RSUs shall cease vesting as of the date of termination. 
  
 (d) Compliance Restrictions. The Company shall not be obligated to
issue to the Participant the Shares upon the vesting of any RSU (or otherwise) unless (i) the Participant has complied with covenants set forth in Section 10 of this Agreement and (ii) the issuance and delivery of such Shares shall comply with all
relevant provisions of law and other legal requirements including any applicable federal or state securities laws and the requirements of any stock exchange or quotation system upon which Common Stock may then be listed or quoted. 
  
 5. Restrictions on Transfer. 
  
 The RSUs may not be sold, assigned, transferred, pledged or otherwise
encumbered by the Participant, either voluntarily or by operation of law, except by will or the laws of descent and distribution, and, during the lifetime of the Participant, the RSUs shall be exercisable only by the Participant. 
  
 6. No Rights as Stockholder. 
  
 Except as set forth in the Plan, neither the Participant nor any person
claiming under or through the Participant shall be, or shall have any rights or privileges of, a stockholder of the Company in respect of any Share issuable pursuant to the RSUs granted hereunder until such Share has been delivered to the
Participant. 
  

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 7. Withholding Taxes; Section 83(b) Election. 
  
 (a) No Shares will be delivered pursuant to the vesting of an RSU unless and
until the Participant pays to the Company, or makes provision satisfactory to the Company for payment of, any federal, state or local withholding taxes required by law to be withheld in respect of such RSU. 
  
 (b) The Participant acknowledges that no election under Section 83(b) of the
Code may be filed with respect to the RSUs. 
  
 8. Automatic Sale Upon Vesting. 
  
 (a) Upon any
vesting of RSUs pursuant to Section 2 hereof, the Company shall sell, or arrange for the sale of, such number of the Shares issuable pursuant to such vested RSU under Section 2 as is sufficient to generate net proceeds sufficient to satisfy the
Company’s minimum statutory withholding obligations with respect to the income recognized by the Participant upon vesting (based on minimum statutory withholding rates for all tax purposes, including payroll and social security taxes, that are
applicable to such income), and the Company shall retain such net proceeds in satisfaction of such tax withholding obligations. 
  
 (b) The Participant hereby appoints [the Company’s Secretary][insert name of Broker] as his or her attorney-in-fact to sell the Shares in
accordance with this Section 8. The Participant agrees to execute and deliver such documents, instruments and certificates as may reasonably be required in connection with the sale of the Shares pursuant to this Section 8. 
  
 (c) The Participant represents to the Company that, as of the date hereof,
the Participant is not aware of any material nonpublic information about the Company or the Common Stock. The Participant and the Company have structured this Agreement to constitute a “binding contract” relating to the sale of Common
Stock pursuant to this Section 8, consistent with the affirmative defense to liability under Section 10(b) of the Exchange Act contemplated by Rule 10b5-1(c) under the Exchange Act. 
  
 9. Provisions of the Plan. 
  
 The RSUs are subject to the provisions of the Plan, a copy of which is being
furnished to the Participant with this Agreement. 
  
 10. Participant’s Covenants. 
  
 For and in
consideration of the delivery of this Agreement, the Participant agrees to the provisions of this Section 10. 
  
 (a) Confidential Information. As used in this Agreement, “Confidential Information” shall mean the Company’s trade secrets and other
non-public proprietary information relating to the Company or the business of the Company, including information relating to financial statements, customer lists and identities, potential customers, customer contacts, employee skills and
compensation, employee data, suppliers, acquisition targets, servicing methods, equipment, programs, strategies and information, analyses, marketing plans and strategies, profit margins, financial, promotional, marketing, training or operational
information, and other information developed or used by the Company that is not known generally to the public or the industry. Confidential Information shall not include any information that is in the public domain or becomes known in the public
domain through no wrongful act on the part of the Participant. 
  
 (b) Non-Disclosure. The Participant agrees that the Confidential Information is a valuable, special and unique asset of the Company’s business, that such Confidential Information is important to the Company and the effective
operation of the Company’s business, and that during employment with the 

  

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Company and at all times thereafter, the Participant shall not, directly or indirectly, disclose to any competitor or other person or entity (other than
current employees of the Company) any Confidential Information that the Participant obtains while performing services for the Company, except as may be required in the Participant’s reasonable judgment to fulfill his duties hereunder or to
comply with any applicable legal obligation. 
  
 (c)
Non-Competition; Non-Solicitation. 
  
 (i) During the
Participant’s employment with the Company and for the period of six months immediately after the termination of the Participant’s employment with the Company for any cause whatsoever, the Participant shall not invest in (other than in a
publicly traded company with a maximum investment of no more than 1% of outstanding shares), counsel, advise, consult or be otherwise engaged or employed by any entity or enterprise (a “Competitor”) that competes with (A) the
Company’s business of providing Medicaid managed care services, Medicaid-related services, and behavior health, nurse triage and pharmacy compliance specialty services or (B) any other business in which, after the Grant Date, the Company
becomes engaged (or has taken substantial steps in which to become engaged) on or prior to the date of termination of the Participant’s employment, regarding which business the Participant has acquired confidential information, and regarding
which business constitutes (or is expected to constitute if only then recently commenced) more than 5% of the annual gross revenues of the Company or, as conducted by such Competitor, more than 35% of the Competitor’s annual gross revenues.

  
 (ii) During the Participant’s employment with the Company
and for the period of twelve months immediately after the termination of the Participant’s employment with the Company for any cause whatsoever (the “Restricted Period”), the Participant will not, either directly or indirectly, either
for himself or for any other person, firm, company or corporation, call upon, solicit, divert, or take away, or attempt to solicit, divert or take away any of the customers, prospective customers, business, vendors or suppliers of the Company that
the Participant had dealings with, or responsibility for, or the Participant had access to, confidential information of such customers, vendors or suppliers. 
  
 (iii) The Participant shall not, at any time during the Restricted Period, without the prior written consent of the Company, (A) directly or indirectly,
solicit, recruit or employ (whether as an employee, officer, director, agent, consultant or independent contractor) any person who was or is at any time during the previous six months an employee, representative, officer or director of the Company;
or (B) take any action to encourage or induce any employee, representative, officer or director of the Company to cease their relationship with the Company for any reason. 
  
 (d) Enforcement. If any of the provisions or subparts of this Section 10 shall be held to be invalid or unenforceable
by a court of competent jurisdiction, the remaining provisions or subparts thereof shall nevertheless continue to be valid and enforceable according to their terms. Further, if any restriction contained in the provisions or subparts of this Section
10 is held to be overbroad or unreasonable as written, the parties agree that the applicable provision should be considered to be amended to reflect the maximum period, scope or geographical area deemed reasonable and enforceable by the court and
enforced as amended. 
  
 (e) Remedy for Breach. 

 
 (i) Because the Participant’s services are unique and because the
Participant has access to the Company’s Confidential Information, the parties agree that any breach or threatened breach of this Section 10 will cause irreparable harm to the Company and that money damages alone would be an inadequate remedy.
The parties therefore agree that, in the event of any breach or threatened breach of this Section 10, and in addition to all other rights and remedies available to it, the Company may apply to any court of competent jurisdiction for specific
performance and/or injunctive or other relief, without a bond, in order to enforce or prevent any violations of the provisions of this Section 10. 
  

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 (ii) The Participant acknowledges and agrees that nothing contained herein shall be construed to be an
excessive remedy to prohibit the Company from pursuing any other remedies available to it for such actual or threatened breach, including the recovery of money damages, proximately caused by the Participant’s breach of this Section 10.

  
 (f) Survival. The provisions of this Section 10 shall
survive and continue in full force in accordance with their terms notwithstanding any forfeiture, termination or expiration of this Agreement in accordance with its terms or any termination of the Participant’s employment for any reason
(whether voluntary or involuntary). 
  
 11.
Miscellaneous. 
  
 (a) Severability. The invalidity
or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, and each other provision of this Agreement shall be severable and enforceable to the extent permitted by
law. 
  
 (b) Waiver. Any provision for the benefit of the
Company contained in this Agreement may be waived, either generally or in any particular instance, by the Board of Directors of the Company. 
  
 (c) Binding Effect. This Agreement shall be binding upon and inure to the benefit of the Company and the Participant and their respective heirs,
executors, administrators, legal representatives, successors and assigns, subject to the restrictions on transfer set forth in Section 5 of this Agreement. 
  
 (d) Notice. All notices required or permitted hereunder shall be in writing and deemed effectively given upon personal delivery or five days after
delivery to a United States Post Office, by registered or certified mail, postage prepaid, addressed to the other party hereto at the address shown beneath his or its respective signature to this Agreement, or at such other address or addresses as
either party shall designate to the other in accordance with this paragraph (d). 
  
 (e) Entire Agreement. This Agreement and the Plan constitute the entire agreement between the parties, and supersede all prior agreements and understandings, relating to the RSUs. 
  
 (f) Participant’s Acknowledgments. The Participant acknowledges
that he or she: (i) has read this Agreement; (ii) has been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of the Participant’s own choice or has voluntarily declined to seek such counsel; (iii)
understands the terms and consequences of this Agreement; (iv) is fully aware of the legal and binding effect of this Agreement; and (v) understands that the law firm of Wilmer Cutler Pickering Hale and Dorr LLP, is acting as counsel to the Company
in connection with the transactions contemplated by the agreement, and is not acting as counsel for the Participant. 
  
 (g) Unfunded Rights. The right of the Participant to receive Common Stock pursuant to this Agreement is an unfunded and unsecured obligation of the
Company. The Participant shall have no rights under this Agreement other than those of an unsecured general creditor of the Company. 
  
 (h) Deferral. Neither the Company nor the Participant may defer delivery of any Shares issuable under unvested RSUs except to the extent that such
deferral complies with the provisions of Section 409A of the Code. 
  
 Remainder of Page Intentionally Left Blank 
  

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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date set forth below.

  

					
	Dated:                     , 200    	 	CENTENE CORPORATION
			
	 	 	By:	 	  

	 	 	Name:	 	 
	 	 	Title:	 	 
		
	 	 	  

	 	 	[Name of Participant]
			
	 	 	Address:	 	  

	 	 	 	 	  

	 	 	 	 	  

  

 - 6 -Form of Nonstatutory Stock Option Agreement (Non-employees)

 Exhibit 10.3 
  
 CENTENE CORPORATION 
  
 Nonstatutory Stock Option Agreement Granted Under 
 Amended and Restated 2003 Stock Incentive Plan 
  
 1. Grant of Option 
  
 This agreement evidences the grant by Centene Corporation, a Delaware corporation (the “Company”), on
                             (the “Grant Date”) to
            , a [director][consultant] of the Company (the “Participant”), of an option to purchase, in whole or in part, on the terms provided herein and in the
Company’s Amended and Restated 2003 Stock Incentive Plan (the “Plan”), a total of              shares (the “Shares”) of common stock, $0.001 par value per
share, of the Company (“Common Stock”) at $             per Share. Unless earlier terminated, this option shall expire at 5:00 p.m., Central time, on
             (the “Final Exercise Date”). 
  
 It is intended that the option evidenced by this agreement shall not be an incentive stock option as defined in Section 422 of the Internal Revenue Code
of 1986, as amended, and any regulations promulgated thereunder (the “Code”). Except as otherwise indicated by the context, the term “Participant,” as used in this option, shall be deemed to include any person who acquires the
right to exercise this option validly under its terms. 
  
 2. Vesting
Schedule 
  
 This option will become exercisable
(“vest”) as to             % of the original number of Shares on the [        ] anniversary of the Grant Date and as to an
additional             % of the original number of Shares at the end of each successive [            ] period following
the first anniversary of the Grant Date until the [            ] anniversary of the Grant Date. 
  
 The right of exercise shall be cumulative so that to the extent the option is not exercised in any period to the maximum extent permissible it shall
continue to be exercisable, in whole or in part, with respect to all Shares for which it is vested until the earlier of the Final Exercise Date or the termination of this option under Section 3 hereof or the Plan. 
  
 In the event of a “Change in Control” of the Company, all of the
Shares that (but for the application of this clause) are not vested at the time of the occurrence of such Change in Control event shall vest. A “Change in Control” shall be deemed to have occurred if any of the events set forth in any one
of the following clauses shall occur: (i) any Person (as defined in section 3(a)(9) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and as such term is modified in sections 13(d) and 14(d) of the Exchange Act),
excluding a group of persons including the Participant, is or becomes the “beneficial owner” (as defined in Rule 13(d)(3) under the Exchange Act), directly or indirectly, of securities representing forty percent or more of the combined
voting power of the Company’s then outstanding securities; (ii) individuals who, as of the Grant Date, constitute the Board of Directors of the Company (the “Incumbent Board”), cease for any reason to constitute a majority thereof
(provided, however, that an individual becoming a director subsequent to the Grant Date whose election, or nomination for election by the Company’s stockholders, was approved by at least a majority of the directors then comprising the
Incumbent Board shall be included within the definition of Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of either an actual election contest (or such terms used in Rule
14a-11 of Regulation 14A promulgated under the Exchange Act) or other actual or threatened solicitation of proxies or consents by or on behalf of a person other than the Board of Directors of the Company); or (iii) the stockholders of the Company
consummate a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to 

 represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) at least
fifty percent of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation. 
  
 3. Exercise of Option 
  
 (a) Form of Exercise. Each election to exercise this option shall be in writing, signed by the Participant, and received by the Company at its
principal office, accompanied by this agreement, and payment in full in the manner provided in the Plan. Common Stock purchased upon the exercise of this option shall be paid for as follows: 
  

	 	(1)	in cash or by check, payable to the order of the Company; 

  

	 	(2)	by (i) delivery of an irrevocable and unconditional undertaking by a creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise price and any
required tax withholding or (ii) delivery by the Participant to the Company of a copy of irrevocable and unconditional instructions to a creditworthy broker to deliver promptly to the Company cash or a check sufficient to pay the exercise price and
any required tax withholding; 

  

	 	(3)	when the Common Stock is registered under the Securities and Exchange Act of 1934, as amended, by delivery of shares of Common Stock owned by the Participant valued at their fair
market value as determined by (or in a manner approved by) the board of directors of the Company (the “Board”) in good faith (“Fair Market Value”), provided (i) such method of payment is then permitted under applicable law
and (ii) such Common Stock, if acquired directly from the Company was owned by the Participant at least six months prior to such delivery; 

  

	 	(4)	to the extent permitted under applicable law and permitted by the Board, in its sole discretion, provided that at least an amount equal to the par value of the Common Stock
being purchased shall be paid in cash; or 

  

	 	(5)	by any combination of the above permitted forms of payment. 

  
 The Participant may purchase less than the number of shares covered hereby, provided that no partial exercise of this option may be for any fractional
share or for fewer than ten whole shares. 
  
 (b) Continuous
Relationship with the Company Required. Except as otherwise provided in this Section 3, this option may not be exercised unless the Participant, at the time he or she exercises this option, is, and has been at all times since the Grant Date, a
director of, or consultant or advisor to, the Company or any other entity the directors, consultants or advisors of which are eligible to receive option grants under the Plan (an “Eligible Participant”). 
  
 (c) Termination of Relationship with the Company. If the Participant
ceases to be an Eligible Participant for any reason, then, except as provided in paragraphs (d) and (e) below, the right to exercise this option shall terminate 30 days after such cessation (but in no event after the Final Exercise Date),
provided that this option shall be exercisable only to the extent that the Participant was entitled to exercise this option on the date of such cessation. Notwithstanding the foregoing, if the Participant, prior to the Final Exercise Date,
violates the non-competition or confidentiality provisions of any consulting, advisory, nondisclosure, non-competition or other agreement between the Participant and the Company, the right to exercise this option shall terminate immediately upon
such violation. 
  

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 (d) Exercise Period Upon Death or Disability. If the Participant dies or becomes disabled (within
the meaning of Section 22(e)(3) of the Code) prior to the Final Exercise Date while he or she is an Eligible Participant and the Company has not terminated such relationship for “cause” as specified in paragraph (e) below, this option
shall be exercisable, within the period of 90 days following the date of death or disability of the Participant, by the Participant (or in the case of death by an authorized transferee), provided that this option shall be exercisable only to
the extent that this option was exercisable by the Participant on the date of his or her death or disability, and further provided that this option shall not be exercisable after the Final Exercise Date. 
  
 (e) Discharge for Cause. If the Participant, prior to the Final
Exercise Date, is discharged by the Company for “cause” (as defined below), the right to exercise this option shall terminate immediately upon the effective date of such discharge. “Cause” shall mean willful misconduct by the
Participant or willful failure by the Participant to perform his or her responsibilities to the Company (including breach by the Participant of any provision of any consulting, advisory, nondisclosure, non-competition or other agreement between the
Participant and the Company), as determined by the Company, which determination shall be conclusive. The Participant shall be considered to have been discharged for “cause” if the Company determines, within 30 days after the
Participant’s resignation, that discharge for cause was warranted. 
  
 4.
Withholding 
  
 No Shares will be issued pursuant to the
exercise of this option unless and until the Participant pays to the Company, or makes provision satisfactory to the Company for payment of, any federal, state or local withholding taxes required by law to be withheld in respect of this option.

  
 5. Nontransferability of Option 
  
 This option may not be sold, assigned, transferred, pledged or otherwise
encumbered by the Participant, either voluntarily or by operation of law, except by will or the laws of descent and distribution, and, during the lifetime of the Participant, this option shall be exercisable only by the Participant. 
  
 6. Provisions of the Plan 
  
 This option is subject to the provisions of the Plan, a copy of which is
furnished to the Participant with this option. 
  

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 IN WITNESS WHEREOF, the Company has caused this option to be
executed under its corporate seal by its duly authorized officer. This option shall take effect as a sealed instrument. 
  

			
	 CENTENE CORPORATION

		
	 By:
	 	  

	 Name:
	 	 
	 Title
	 	 

  
 PARTICIPANT’S ACCEPTANCE 
  
 The undersigned
hereby accepts the foregoing option and agrees to the terms and conditions thereof. The undersigned hereby acknowledges receipt of a copy of the Company’s Amended and Restated 2003 Stock Incentive Plan. 
  

					
	 	  	PARTICIPANT:
		
	Dated:                         	  	  

			
	 	  	Address:	  	  

	 	  	 	  	  

  

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