SEC Contract Filing

Filing Date: 2017-05-04

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>exhibit103-2011equityincen.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<div><a name="s6E88EE62AEEFCA079E9BAB60EE4C1FFC"></a></div><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.3</font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Molina Healthcare, Inc. 2011 Equity Incentive Plan</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Restricted Stock Award Agreement</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">This RESTRICTED STOCK AWARD AGREEMENT (the &#8220;Agreement&#8221;) effective as of </font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">_________, _____</font><font style="font-family:inherit;font-size:11pt;">&#32;is between Molina Healthcare, Inc., a Delaware corporation (the &#8220;Company&#8221;), and </font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">__________________</font><font style="font-family:inherit;font-size:11pt;">, an employee of the Company or one of its Affiliates (the &#8220;Grantee&#8221;), pursuant to and subject to the terms and conditions of the Molina Healthcare, Inc. 2011 Equity Incentive Plan (the &#8220;Plan&#8221;). The Company desires to award to the Grantee a number of shares of the Company&#8217;s common stock, par value $.001 per share (the &#8220;Common Stock&#8221;), subject to certain restrictions as provided in this Agreement, in order to carry out the purpose of the Plan. The purpose of this Agreement is to evidence the terms and conditions of an award of restricted stock granted to the Grantee under the Plan.</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Accordingly, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Company and the Grantee hereby agree as follows:</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Section&#160;1. </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Award of Restricted Stock</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Effective as of </font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">________, _____</font><font style="font-family:inherit;font-size:11pt;">&#32;(the &#8220;Effective Date&#8221;), the Company grants to the Grantee a restricted stock award of </font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">&#32;____________</font><font style="font-family:inherit;font-size:11pt;">&#32;shares of Common Stock (the &#8220;Shares&#8221;), subject to the terms and conditions set forth in this Agreement and in accordance with the terms of the Plan (the &#8220;Restricted Stock Award&#8221;).</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Section&#160;2. </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Rights with Respect to the Shares</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(a)&#160;&#160;&#160;&#160;Stockholder Rights. With respect to the Shares, the Grantee shall be entitled at all times on and after the date of issuance of the Shares to exercise the rights of a stockholder of Common Stock of the Company, including the right to vote the Shares and the right to receive dividends on the Shares as provided in Section 2(b) hereof, unless and until the Shares are forfeited pursuant to Section&#160;3 hereof. However, the Shares shall be nontransferable and subject to a risk of forfeiture to the Company at all times prior to the dates on which such Shares become vested, and the restrictions with respect to the Shares lapse, in accordance with Section&#160;3 of this Agreement.</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(b)&#16