Health Net 2009 Annual Report Download - page 241

Company or an Employer transfers any amounts to a grantor trust to provide payments hereunder, such amounts, and all income
attributable to such amounts, shall be subject to the claims of the Company’s or the Employer’s general creditors. The Company’s and
each Employer’s obligations hereunder shall constitute general, unsecured obligations, payable solely out of its general assets, and no
Participant or Beneficiary shall have any right to any specific assets. The Plan constitutes a mere promise by the Company and each
Employer to make benefit payments in the future.
6.2 Limitation on Rights. Neither the establishment of the Plan nor the payment of any account hereunder shall be construed as
giving or granting any person any legal or equitable rights against the Company, any Employer, the Board, the Committee, or any of
their officers, trustees, associates, or agents, other than such as are specifically conferred by the express terms of the Plan.
6.3 Satisfaction of Claims. The payment to a Participant, Beneficiary or other person of an account balance hereunder pursuant
to the terms of the Plan shall be in full satisfaction of all claims with respect to such account that such person may have against the
Company or any Employer.
6.4 Nonassignability. No amount deferred under the Plan or any amount credited to an account shall be subject in any manner to
anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment, and any attempt to transfer or
encumber the same shall be void, other than pursuant to a qualified domestic relations order as defined in Title I of ERISA.
6.5 Amendment of the Plan. The Committee may, in its sole discretion and without the consent of any Participant or
Beneficiary, amend the Plan at any time and in any manner by duly adopted resolutions, adopt other policies and procedures
(including amendments, policies and procedures with retroactive effect), or take any other actions, that the Committee determines are
necessary or appropriate; provided, however, that no such amendment, policies and procedures, or actions shall either (i) reduce the
amount credited to any account of any Participant immediately prior to such amendment, policies and procedures, or actions, or (ii) be
permitted which would result in taxation of Participants pursuant to Section 409A of the Code.
6.6 Withdrawal by an Employer; Termination of the Plan. Each Employer may, in its sole discretion without the consent of any
Participant or Beneficiary, terminate its participation in the Plan at any time by giving written notice thereof to the Committee and
each Participant employed by such Employer. Termination of participation by an Employer shall not affect the time of payment of the
Participant’s Account. The Company may, in its sole discretion, terminate the Plan without the consent of, or notification to, any
person. Termination of the Plan shall not affect the time of payment of the Participant’s Account unless the Plan is terminated under
circumstances which would permit the immediate payment to Participants of all amounts deferred under the Plan in compliance with
Treasury Regulation 1.409A-3(j)(4)(ix), in which case each Participant’s Account shall be paid out in full in a lump sum within 30
days following the date of the termination of the Plan.
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