HEALTH NET, INC. LETTERHEAD]Stock Option Plan • June 30th, 2006 • Health Net Inc • Hospital & medical service plans • Delaware
You have informed Health Net, Inc. (the “Company”) of your intention to relinquish your duties as the Company’s Senior Vice President, General Counsel and Secretary. In light of this intention, you and the Company have entered into this letter agreement (the “Agreement”) in order to memorialize the agreement reached between you and the Company regarding the terms and conditions of your continued employment with, and eventual separation from, the Company. As you are aware, you and the Company are currently party to an Offer of Relocation and Employment Letter Agreement, dated June 25, 1998; a Severance Payment Agreement dated December 4, 1998 (the “Severance Payment Agreement”); an Agreement dated January 1, 2001 providing for your consent to certain changes under the Severance Payment Agreement and the Company’s Second Amended and Restated 1991 Stock Option Plan, 1997 Stock Option Plan, as amended, and the 1998 Stock Option Plan, as amended (the “January 1, 2001 Agreement”); stock opti
