Health Net 2011 Annual Report Download - page 259

15. Failure to Execute Agreement. This Option Agreement and the Option granted hereunder are subject to the Optionee
returning a counter-signed copy of this Option Agreement to the designated representative of the Company on or before the 75 day
after the Grant Date (except as otherwise determined by the Compensation and Benefits Committee of the Company or a
subcommittee thereof in its sole discretion). In the event that the Optionee fails to so return a counter-signed copy of this Option
Agreement within such period, then this Option Agreement and the Option granted hereunder shall automatically become null and
void and shall have no further force or effect. Electronic acceptance of this Option Agreement shall constitute an execution of the
Option Agreement by the Optionee and a return of the counter-signed copy to the Company for purposes of this Section 15.
IN WITNESS WHEREOF, the parties hereto have executed this Option Agreement as of the date and year set forth above.
Health Net, Inc.
Name:
Title:
OPTIONEE HEREBY EXPRESSLY
ACKNOWLEDGES AND AGREES THAT (I)
HE/SHE IS AN EMPLOYEE AT WILL AND
MAY BE TERMINATED BY THE EMPLOYER
AT ANY TIME, WITH OR WITHOUT CAUSE,
(II) THE OPTION MAY NOT BE EXERCISED
WITH RESPECT TO ANY OPTION SHARES
THAT ARE NOT VESTED ON THE DATE OF
ANY SUCH TERMINATION AND (III) THE
OPTION MAY BE EXERCISED WITH
RESPECT TO OPTION SHARES THAT ARE
VESTED ON THE DATE OF ANY SUCH
TERMINATION ONLY TO THE EXTENT
EXPRESSLY PROVIDED IN THIS OPTION
AGREEMENT.
Your acceptance of this Option Agreement indicates
that you hereby accept and agree to all the terms and
provisions of the foregoing Option Agreement and
the attached Grant Notice, and to all the terms and
provisions of the Plan incorporated by reference
herein.
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