0001193125-09-009011 Sample Contracts

FORM OF NONQUALIFIED STOCK OPTION AGREEMENT FOR NON-EMPLOYEE DIRECTORS UNDER THE HEALTH NET, INC. AMENDED AND RESTATED 1998 STOCK OPTION PLAN
Nonqualified Stock Option Agreement • January 21st, 2009 • Health Net Inc • Hospital & medical service plans

This agreement (the “Option Agreement”) is made as of [DATE] (the “Grant Date”), between Health Net, Inc., a Delaware corporation (the “Company”), and [NAME], a non-employee director of the Company (the “Optionee”).

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FORM OF PERFORMANCE SHARE AWARD AGREEMENT
Performance Share Award Agreement • January 21st, 2009 • Health Net Inc • Hospital & medical service plans • Delaware

This Performance Share Award Agreement (together with the Notice of Grant of Performance Share Award (the “Grant Notice”) attached hereto and incorporated by reference herein, the “Performance Share Award Agreement”) is made and entered into as of the grant date set forth on the Grant Notice (the “Date of Grant”), by and between Health Net, Inc., a Delaware corporation (the “Company”), and the recipient identified on the Grant Notice, an employee of the Company or a subsidiary of the Company (the “Recipient”).

FORM RESTRICTED STOCK AGREEMENT
Restricted Stock Agreement • January 21st, 2009 • Health Net Inc • Hospital & medical service plans • Delaware

This Restricted Stock Agreement (this “Restricted Stock Agreement”) is made and entered into as of [DATE OF GRANT] (the “Date of Grant”), by and between Health Net, Inc., a Delaware corporation (the “Company”), and [NAME] (the “Recipient”).

FORM OF NONQUALIFIED STOCK OPTION AGREEMENT UNDER THE HEALTH NET, INC. [NAME OF PLAN]
Nonqualified Stock Option Agreement • January 21st, 2009 • Health Net Inc • Hospital & medical service plans

This agreement (together with the Notice of Grant of Stock Options (the “Grant Notice”) attached hereto and incorporated by reference herein, the “Option Agreement”) is made as of the grant date set forth on the Grant Notice (the “Grant Date”), by and between Health Net, Inc., a Delaware corporation (the “Company”), and the participant identified on the Grant Notice, an employee of the Company or a Subsidiary of the Company (the “Optionee”).

FORM RESTRICTED STOCK UNIT AGREEMENT
Restricted Stock Unit Agreement • January 21st, 2009 • Health Net Inc • Hospital & medical service plans • Delaware

This Restricted Stock Unit Agreement (together with the Notice of Grant of Restricted Stock Units (the “Grant Notice”) attached hereto and incorporated by reference herein, the “Restricted Stock Unit Agreement”) is made and entered into as of the grant date set forth on the Grant Notice (the “Date of Grant”), by and between Health Net, Inc., a Delaware corporation (the “Company”), and the recipient identified on the Grant Notice, an employee of the Company or a subsidiary of the Company (the “Recipient”).

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