Icker
Icker
CIGNA CORPORATION, )
)
Plaintiff, ) Case No: ______________
)
vs. )
) JURY TRIAL DEMANDED
AMY BRICKER and )
CVS HEALTH CORPORATION, )
)
Defendants. )
COMPLAINT
Plaintiff, Cigna Corporation, by and through its attorneys, brings this Complaint seeking
INTRODUCTION
Plaintiff Cigna Corporation (“Cigna” or “Plaintiff”) brings this action against Defendant
Amy Bricker (“Bricker”), a former senior executive leader of Cigna’s wholly owned subsidiary,
Evernorth Health, Inc. d/b/a Evernorth Health Services (“Evernorth”). The agreement Bricker
signed prohibits her from working for any Cigna competitor, an agreement Cigna reserves for only
its most senior executive leaders. Cigna employs more than 70,000 people company-wide, but
only 16 active employees are bound by this non-competition agreement. Bricker, as one of the top
15 highest paid employees, was one of those very select few top-level executives. Despite holding
a high-level executive role, and despite being fully aware that she had signed the non-competition
agreement, and despite accepting a huge increase in compensation and extensive equity
participation in exchange for signing the agreement, Bricker recently resigned from her senior
leadership position with Cigna to become a member of the Executive Leadership team at Cigna’s
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chief competitor, Defendant CVS Health Corporation (“CVS”). This, of course, is a direct
violation of her contractual non-competition restrictions, and she is doing so in a role that would
inevitably require her to use and disclose Cigna’s confidential and trade secret business
In her role at Evernorth, Bricker reported directly to Evernorth’s CEO and was privy to the
business’s most highly sensitive information relating to supply chain, product development plans,
strategic direction, enterprise-wide initiatives, sales strategy, and client and health plan
relationships. Bricker also had responsibility for preparing and contributing to Cigna’s proposals
to obtain business for which CVS was competing, including a successful pitch in October 2022 to
secure the PBM business of Centene Corporation, a client previously serviced by CVS that
represents 20 million consumers and billions of dollars in revenue. As a result of the successful
bid, Cigna provided Bricker with a high six-figure spot bonus. If Bricker were to be permitted to
accept her position with CVS, she would be responsible for developing products and services in
commence her new position with CVS. Accordingly, Cigna seeks temporary, preliminary, and
permanent injunctive relief to hold Bricker to her contractual obligations and to prevent
Defendants from misusing Cigna’s trade secrets and confidential information. Cigna also seeks
damages based on Bricker’s conduct in violation of her legal obligations, and CVS’s tortious
PARTIES
headquarters and principal place of business at 900 Cottage Grove Road, Bloomfield, CT 06002.
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Cigna’s wholly owned subsidiary, Cigna Management Company, LLC in St. Louis, Missouri until
she voluntarily resigned on January 10, 2023. Her last day of employment with Cigna is February
3, 2023. Cigna Management Company, LLC is the corporate entity that employs the highest-level
4. This Court has federal question jurisdiction pursuant to 28 U.S.C. § 1331 because
this action includes claims arising under the laws of the United States, specifically, the U.S.
Computer Fraud & Abuse Act (“CFAA”), 18 U.S.C. §1030, et seq. The Court has supplemental
jurisdiction over the breach of contract and other state law claims herein pursuant to 28 U.S.C.
§1367 because the claims are so related to the CFAA claim for which this Court has original
5. This Court has personal jurisdiction over Defendant Bricker because Bricker
6. This Court has personal jurisdiction over Defendant CVS because CVS
transacts business and owns and/or possesses real estate in the State of Missouri.
7. Venue is proper in this District pursuant to 28 U.S.C. § 1391(b)(1) & (2) because
Plaintiff, through its wholly owned subsidiary Evernorth, is located this District, and the events
giving rise to the claims in this action occurred in substantial part in this District.
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8. Cigna is a global health services conglomerate that works with employers and
organizations around the world to develop innovative programs, help individuals and families
9. Through its Evernorth brand, Cigna sells a vast array of health services, including
pharmacy benefit management, medical benefit management, care solutions, and data and analytics
services. Evernorth’s pharmacy benefit manager, Express Scripts PBM, is the single largest
business unit by revenue within both Evernorth and the broader Cigna enterprise.
10. As a PBM, Express Scripts manages prescription drug benefits programs on behalf
of employers, federal agencies, public sector entities, unions, health plans, including commercial
Medicare, and Medicaid, the military, and wholesale entities, such as Amazon Pharmacy, by way
of example. Express Scripts offers a variety of services and programs to these various entities.
The PBM industry is highly competitive, and there are many PBMs from which clients can choose
11. Express Scripts is able to offer lower-cost prescription drug benefits to clients in
part because of the rebates it receives from drug manufacturers. Express Scripts has devoted
substantial resources to the development of its drug formularies, as well as its drug manufacturer
rebate contracting process and considers the processes, considerations, analytics, negotiating
strategies and other strategic tools to be highly confidential and closely protected trade secrets.
responses, Express Scripts’ strategy (including considerations of and decisions on the bids), and
Express Scripts’ rebate agreements are highly confidential and competitive documents and trade
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secrets. These include processes, as well as commercial and financial terms that Express Scripts
13. Disclosure of this information to Express Scripts’ competitors would harm Express
Scripts commercially, because a significant part of Express Scripts’ competitive advantage is its
ability to provide its clients with superior economic value and cost savings; if Express Scripts’
competitors had access to this information, they could use it to their advantage in their own
negotiations with manufacturers in ways to undercut the agreements negotiated by Express Scripts.
14. Express Scripts is part of the Evernorth family of companies, but Evernorth itself
is more than a PBM business. Evernorth directly impacts consumers by delivering innovative and
flexible solutions for health plans, employers, and government programs through its component
businesses, including Express Scripts, Accredo, eviCore, and MDLIVE. These businesses, in
addition to Express Scripts, include a specialty pharmaceutical and home infusion provider, a
musculoskeletal, primary home care, and direct health services, among other things.
15. Evernorth represents Cigna’s entire health services and solutions business. Since
its launch in 2020, Evernorth has aspired and worked toward bringing together Cigna’s vast array
of health services capabilities in pharmacy solutions, benefits management, care solutions, and
data and analytics to coordinate services and provide comprehensive solutions for its clients,
16. Defendant Bricker joined Express Scripts in 2010 and held various leadership roles
in pharmacy network management, supply chain economics, and supply chain product.
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17. Bricker has been a key thought leader and spokesperson involved in both the launch
and strategic direction of Evernorth and its various components since Evernorth was first brought
18. Indeed, after Cigna’s acquisition of Express Scripts in 2018, Bricker was rapidly
promoted from Senior Vice President, Supply Chain, to her current role as President of Express
Scripts, effective December 21, 2020, at which time she received a very significant increase in
compensation and benefits, nearly doubling her overall compensation opportunity, which was
19. In her position as President of Express Scripts, Bricker was responsible for leading
all aspects of Cigna’s PBM business, including client relationships, supply chain, and drug
procurement. In addition, the Vice President of Evernorth Product Strategy reported to one of
Bricker’s direct reports, making Bricker ultimately responsible for understanding and coordinating
product strategy not just within the PBM, but throughout Evernorth as a whole.
20. Bricker also served as the most senior member of Evernorth’s Senior Leadership
Team, actively collaborating with Evernorth’s other business teams, and guiding all aspects of
Evernorth’s strategic direction, financial performance, growth, and long-term vision. In addition,
Bricker attended a number of meetings with prospective clients in which PBM services were
pitched alongside the health products developed and sold by Evernorth’s care delivery business
unit.
21. Bricker was a highly visible and influential leader of the company. Bricker
regularly gave presentations, including to Cigna’s Board of Directors, and made public
appearances on behalf of the entire enterprise, including before investors and before Congress.
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22. As the President of Express Scripts and the most senior member of Evernorth’s
(a) played a key leadership role in all of Cigna’s client relationships across
(b) worked on strategy and assembly of care products and solutions, including
(c) had visibility into the financial results and strategic direction of Cigna
Healthcare;
23. Bricker has been immersed in, and obtained intimate knowledge of, Evernorth’s
24. As such, the information to which Bricker was privy was not limited to PBM—it
included all aspects of Evernorth’s business. This includes information relating to Evernorth’s
plans for product development and innovation, as well as supply chain information, financial
performance of various business units, business projections and strategic plans, renewal pipelines,
clinical approaches, the structure of client partnerships, the combination of ancillary products and
services offered by Evernorth, the structure of account management teams, and the methodology
and strategies employed by Cigna with respect to network contracting, earnings, profitability, and
portfolio management.
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initiatives that spanned Evernorth and/or the broader Cigna enterprise, including:
(a) Serving as a member of the Total Cost of Care (TCC) Executive Committee,
Healthcare;
(c) Leading the Cigna enterprise response to Dobbs v. Jackson Women’s Health
(d) Representing Cigna in proceedings with the Federal Trade Commission and
26. Bricker obtained confidential information through data circulated to her in her role
as President of Express Scripts, as well as through regular meetings with Evernorth’s business
leaders.
has convened weekly for Senior Leadership Team meetings with the CEO of Evernorth, monthly
to discuss Evernorth’s financials across business units, in-person for a full day once a month, and
quarterly for extended meetings, including relating to core business reviews across Evernorth
businesses, and as needed to review key strategic information and drive decisions regarding
28. Bricker’s role for Cigna was not only in an internal management capacity. Her role
was also client-facing, as she was the face of the business and the key point of contact for numerous
clients. Bricker regularly interacted and communicated with Cigna’s clients and served as an
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29. By way of example, Bricker served as the face of Evernorth at a 2022 conference
it hosted for clients, referred to as Outcomes +. As part of her formal remarks, Bricker emphasized
the interconnectivity of Evernorth’s various business units, stating, “If we’re going to reshape
healthcare, we must partner together. It’s why we brought all these best-in-class capabilities like,
30. Bricker also presented at Cigna’s Investor Day 2022 enterprise-wide presentation
to investors. Bricker was one of only seven speakers at the presentation, together with Cigna’s
Pharmaceutical Care Management Association (PCMA) that was previously held by the Evernorth
CEO.
32. Bricker also spoke on behalf of Cigna before Congress, testifying to the House
Committee on Energy and Commerce Subcommittee on Health in May 2019. During that
testimony, Bricker noted her various “leadership roles in pharmacy network management, supply
chain economics, and retail contracting strategy” at Express Scripts. She also noted that she was
“responsible for key relationships and strategic initiatives across the pharmaceutical supply chain”
and that her team had “responsibility for developing value-based contracts to improve
affordability, access, and care ….” See A. Bricker May 9, 2019, Testimony Before the House
collaborative efforts to accelerate value-based care for patients through, for example, Cigna’s
efforts to deliver “[r]eal-time clinical alerts that reach physicians through electronic prescribing
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systems that turn data into actionable patient intelligence, helping people stay on their therapy
34. Bricker was given the responsibility for speaking on behalf of Cigna due to the
magnitude of her role within Cigna: she was in the top tier of management, among only a select
group that had access to the most sensitive and valuable information at Cigna, across business
35. Bricker was also a key contact for Cigna’s external consultants, with whom she
worked closely, including during the request for proposal (“RFP”) process for winning and
retaining business.
36. Bricker was a champion for collaboration and connecting coordinated services
across Evernorth’s business portfolio to provide better service and to facilitate coordination of care
management and care delivery solutions. Indeed, she collaborated in the development of
37. Bricker was a member of the Evernorth pricing committee, which assembled to
review and approve the terms offered on all of Evernorth’s major RFPs. Bricker was the highest-
ranking member of the committee, in that Evernorth’s CEO was not a member. As part of this
committee, Bricker had visibility into all offers Evernorth would make. This included visibility
into the economics of other parts of the Evernorth business, in addition to PBM. Bricker was
involved, for example, in steering budget allocation decisions across Evernorth’s businesses,
providing input regarding the allocation of funds not only with respect to Express Scripts, but also
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38. In connection with her employment and her professional advancement with Cigna,
beginning in 2019, following Cigna’s acquisition of Express Scripts in late 2018, Bricker was
provided with the opportunity to participate in various equity plans with Cigna, through which
Cigna granted her the option to purchase certain numbers of shares of Cigna Common Stock
39. As a condition of participating in each of these plans, year over year Bricker agreed
confidential business information, goodwill, and relationships with its customers, providers, and
key employees.
40. Most recently, in 2022, Bricker received grants and entered into the 2022 Restricted
Stock Grant Agreement, attached hereto as Exhibit B, the 2022 Nonqualified Stock Option Grant
Agreement, attached hereto as Exhibit C, and the 2022 Strategic Performance Share Grant
41. In addition to the foregoing agreements entered into by Bricker, Bricker also
participated in Cigna’s Restricted Stock Grant plan, Cigna’s Nonqualified Stock Option Grant
plan, and Cigna’s Strategic Share Grant plan in 2019, 2020 and 2021. Copies of these agreements
42. Beginning in 2020, each of these agreements conditioned the grants upon Bricker’s
acceptance of, and compliance with, restrictive covenants contained in a separate agreement. See
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Agreement (the “Covenant Agreement”), which Bricker signed in each year beginning in 2020,
Bricker agreed to certain restrictive covenant obligations, which included the following non-
competition restriction:
(a) Employee agrees that during the Restricted Period and in any Restricted
Area, Employee shall not, directly or indirectly by assisting, provide services to a
Competitor of the Company. Employee’s agreement not to provide such services to a
Competitor applies regardless of whether Employee does so as an employee, owner,
partner, principal, advisor, independent contractor, consultant, agent, officer, director,
investor, or shareholder. Notwithstanding the foregoing, Employee’s ownership of less than
1% of the outstanding shares of a publicly traded company that constitutes a Competitor
shall not be deemed to be providing services to such Competitor solely by virtue of owning
such shares.
(b) Employee agrees that during the Restricted Period, Employee shall not,
directly or indirectly, work on a Company account on behalf of a Customer or Business
Partner or serve as the representative of a Business Partner or Customer for such Business
Partner’s or Customer’s relationship with the Company.
See Bricker’s 2022 Covenant Agreement, attached hereto as Exhibit N, at Sec. 1.3 (emphasis
added).
following the termination of Bricker’s employment, and the scope of the restriction is throughout
(a)those states, districts and territories of the United States in which the
Company conducts its business;
(b) any other countries in which the Company conducts its business.
45. Bricker is one of fewer than 20 employees across the Cigna enterprise, out of over
70,000 company-wide, who are required to enter into to this version of the Covenant Agreement,
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including the two-year non-competition restriction that prohibits Bricker from directly or indirectly
46. As an E3 level employee of Cigna, Bricker is one of less than five individuals under
Cigna Corporation’s CEO’s direct reports with the prominence, business value, and enterprise
confidentiality, non-disclosure, non-use obligations, contained in Section 1.1 of the 2022 Covenant
Agreement, Exh. N.
48. Bricker also agreed that Cigna would be irreparably harmed if she breached, or
49. The restrictions to which Bricker agreed are reasonable and necessary to protect
Cigna’s legitimate interests, including (a) trade secrets; (b) valuable confidential business
information that otherwise does not qualify as trade secrets; (c) substantial relationships with
Bricker Rejects Enterprise Leadership Team Role at Cigna and Instead Resigns to Take a
National Leadership Role with CVS Health/Aetna—Cigna’s Largest Competitor
50. Bricker, who was already on Cigna’s Senior Leadership Team, was advised in the
Fall of 2022 and officially in January 2023 that she would be offered a position on Cigna’s
Executive Leadership Team, together with Evernorth’s CEO, the CEO of Cigna Corporation, and
the other highest-level executives across the enterprise. This role would have further expanded
51. This followed a natural progression in the preceding years, during which Bricker
was groomed for one of the very top corporate executive positions at Cigna, having been given
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expansive responsibilities that included guiding spending allocation and strategic direction within
Evernorth, direct participation in meetings with Cigna’s Board of Directors, responsibility for
investors, and responsibility for representing Cigna in testimony before Congress, among other
things.
52. Bricker declined the offer to join Cigna’s Executive Leadership Team, opting
instead to work for Cigna’s direct competitor, CVS, on its Executive Leadership Team.
53. Specifically, on January 10, 2023, Bricker provided Cigna with notice of her
resignation. She advised that she would be joining CVS as its Chief Product Officer, Consumer
Health.
this role Bricker would report directly to CVS’s Chief Executive Officer and lead a newly formed
product strategy and innovation function for consumer health products at CVS Health/Aetna.
product strategy and plans for consumers in the Aetna, retail (pharmacy), and health care delivery
businesses. Bricker’s job description explains that she will collaborate across business units,
including all facets of CVS’s business that compete with Cigna’s Evernorth business.
56. CVS meets the definition of a Competitor as defined in the restrictive covenants
that Bricker entered into with Cigna, and she is joining CVS within the restricted period defined
in her restrictive covenants. Indeed, it is hard to imagine a more clear and direct competitor of
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violation of the non-compete restrictions in multiple agreements she signed with Cigna, which
strictly prohibit her from working for a competitor, regardless of the nature of her role.
58. Not only does Bricker’s planned role for CVS constitute a per se violation of her
contractual obligations, requiring no further analysis, but even if a role-specific analysis were
required (which it is not, pursuant to the plain terms of Bricker’s agreement with Cigna), Bricker’s
proposed role with CVS would still be competitive and would constitute a violation of her
contractual obligations.
59. Indeed, Bricker’s planned role with CVS will require her to perform many of the
same functions that she has been performing in her role as President, Express Scripts.
60. CVS’s job description for Chief Product Officer, Consumer Health provides that
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See Exh. O. Performance of these duties violates Bricker’s ongoing contractual obligations owed
to Cigna because this description precisely describes a function that Bricker has been performing
during the past two years, and also incorporates elements of her responsibilities for Express
61. CVS’s offer of employment to Bricker follows closely on the heels of Cigna’s
victory in securing a PBM contract with Centene, one of the largest Medicaid managed care
62. Cigna won the Centene contract following a competitive bidding process. Before
Cigna secured Centene’s business, Centene’s PBM contract was managed by CVS. CVS
subsequently announced that the loss of Centene’s PBM contract, combined with another recent
63. Upon information and belief, Centene has approximately twenty million members,
who spend tens of billions of dollars annually on prescription drugs. Centene will be Express
64. Bricker, as President of Express Scripts for Cigna, was instrumental in developing
the competitive bid that Cigna presented to Centene, and Cigna awarded her a high six-figure spot
65. Upon information and belief, CVS’s offer to Bricker represents a desperate effort
by CVS to retaliate for the loss of this business by poaching Cigna’s leader in developing
competitive bids for its Evernorth division—who also managed the most lucrative unit of
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Evernorth, and who is most knowledgeable about the strategy employed by Cigna in its bid to
Centene, as well as the strategies employed in other competitive bids for PBM services and
competitive bidding strategies to use them to attempt to reclaim CVS’s market share and to
competitively harm Evernorth’s business through unfairly competitive means. At the time of her
resignation, Bricker disclosed that she was contacted by CVS in the context of their effort to hire
66. Bricker’s proposed role at CVS would not only breach her contractual obligations
to Cigna. Based on the vast scope of Bricker’s role, responsibilities, and access to information, as
a result of the work she engaged in with her peers at Evernorth, her knowledge of Cigna’s
The proposed role that Bricker accepted, and any role on CVS’s executive leadership team, would
create a situation where disclosure of Cigna’s confidential and trade secret information is
67. Sitting at the table with CVS’s CEO and other members of its Executive Leadership
Team, Bricker could not divorce from her mind the information she has gleaned as one of the most
senior leaders in the entire Cigna organization. It is impossible to imagine, for example, that she
could hold a position in which she is responsible for development of product strategy and plans
without considering her knowledge of the product development and strategic direction of one of
CVS’s primary competitors. Nor could she collaborate across CVS’s health care benefits,
delivery, and retail businesses – as specified in her job description – without relying on her
knowledge of how Evernorth combines ancillary products and services, or the methodology and
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funds and resources across its businesses, its business projections, expense reduction strategies,
clinical approaches, and the structure of its client partnerships—would all be incalculably
68. On January 13, 2023, Cigna’s counsel corresponded with CVS’s counsel regarding
Bricker’s resignation and prospective employment with CVS. Cigna advised CVS of Bricker’s
contractual obligations and how those obligations would be breached if CVS hired Bricker.
Counsel for Cigna and CVS thereafter engaged in efforts to resolve the dispute, but negotiations
reached an impasse on January 23, 2023, when CVS issued a press release publicly announcing
that Bricker had been hired into the position it had offered to her.
69. On January 10, 2023, the day she tendered notice of her resignation, Bricker
70. Thereafter, Cigna cut off Bricker’s access to its network and data, and asked Bricker
not to return to the office, but to make herself available as needed for transition purposes.
71. On January 13, 2023, Cigna made arrangements with Bricker to collect her
72. On January 24, 2023, Cigna security personnel went to Bricker’s home to collect
her company-issued iPhone. Bricker appeared surprised about having to turn in her phone and told
the Cigna security officer that she needed to get some numbers off the phone before handing it in.
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the phone, and confirmed that the phone had been reset, effectively deleting all data on the phone.
76. Upon information and belief, Bricker intentionally and knowingly performed a
factory reset on the phone prior to turning it in, in an effort to delete all data on the phone. Bricker’s
destruction of this information and evidence was deliberate, willful, knowing, and performed
77. Upon information and belief, Bricker is responsible for the deletion of Cigna’s
confidential information, which was not authorized and was conducted by Bricker in secret.
78. Bricker’s course of conduct violates the covenants that she entered into with Cigna
in exchange for lucrative equity participation opportunities, including but not limited to her
covenants not to compete for two years following the termination of her employment.
79. Bricker repeatedly agreed through multiple restrictive covenant agreements that if
she breached her ongoing obligation not to compete with Cigna, that Cigna would be irreparably
harmed.
immediate irreparable harm, and will continue to irreparably harm Cigna if such conduct is not
enjoined immediately. Cigna will suffer damage that is incalculable, by the actual and threatened
loss of business, clients, employees, and confidential information caused by Bricker’s employment
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81. The issuance of injunctive relief is necessary to protect Cigna’s legitimate business
interests and to preserve the integrity of restrictive covenant agreements entered into with
employees such as Bricker, whereas denial of injunctive relief will leave Cigna vulnerable to the
82. By executing the Restricted Stock Grant Agreements discussed above, Bricker
further agreed that if she competed against Cigna in violation of paragraph 7(c)(2), solicited or
hired Cigna employees in violation of paragraph 7(c)(3), or solicited Cigna customers in violation
of paragraph 7(c)(4), she would immediately pay to Cigna the value she realized from any shares
that vested during the 12-month period preceding the date of any such violation. See Exhs. B, E,
H and K, at paragraph 8(b)-(c). The payment equals the number of shares that vest during that 12-
month period multiplied by the fair market value of those shares on their vesting date plus the total
amount of all dividends, if any, paid to Bricker on those shares through the date of payment. Id.
at paragraph 8(c). Bricker’s Restricted Stock Grant Agreements provide that Cigna would send
Bricker written notice and demand for payment and Bricker agreed to remit payment within 30
83. Pursuant to Bricker’s 2019 Restricted Stock Grant Agreement, based on the total
number of shares and share price for shares that vested during the applicable period, the total value
84. Pursuant to Bricker’s 2020 Restricted Stock Grant Agreement, based on the total
number of shares and share price for shares that vested during the applicable period, the total value
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85. Pursuant to Bricker’s 2021 Restricted Stock Grant Agreement, based on the total
number of shares and share price for shares that vested during the applicable period, the total value
86. By executing the Nonqualified Stock Option Grant Agreements discussed above,
Bricker agreed that if she competed against Cigna in violation of paragraph 7(c)(2), solicited or
hired Cigna employees in violation of paragraph 7(c)(3), or solicited Cigna customers in violation
of paragraph 7(c)(4), she would immediately make a payment to Cigna based on that part of the
option that she exercised within the 24-month period preceding the date of any such violation. See
Exhs. C, F, I, and L at paragraph 8(b)-(c). The payment equals the number of shares she acquired
when she exercised the option multiplied by the excess of (a) the fair market value on the date she
exercised the option over (b) the option price, plus the total amount of all dividends, if any, paid
on those shares through the date of payment. Id. at paragraph 8(c). Bricker’s Nonqualified Stock
Option Grant Agreements provide that Cigna would send Bricker written notice and demand for
payment and Bricker agreed to remit payment within 30 days of written notice. Id. at paragraph
8(d)(3).
87. Pursuant to Bricker’s 2019 Nonqualified Stock Option Grant Agreement, based on
the number of options granted, exercised, and sold during the applicable period, the total gain on
88. Pursuant to Bricker’s 2020 Nonqualified Stock Option Grant Agreement, based on
the number of options granted, exercised, and sold during the applicable period, the total gain on
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89. Pursuant to Bricker’s 2021 Nonqualified Stock Option Grant Agreement, based on
the number of options granted, exercised, and sold during the applicable period, the total gain on
90. By executing the Strategic Performance Share Grant Agreements discussed above,
Bricker agreed that if she competed against Cigna, solicited or hired Cigna employees, or solicited
Cigna customers, she would immediately make a payment to Cigna based on the value she realized
from any Performance Shares during the 12-month period prior to the date of termination. See
Exhs. D, G, H, and M, at paragraph 9(b)-(c). The payment equals the number of performance
shares paid during the applicable period, multiplied by the fair market value of the shares issued
on the payment date, plus the total amount of all dividends paid on those shares through the date
of payment. Id. at paragraph 9(c). Bricker’s Strategic Performance Share Grant Agreements
provide that Cigna would send Bricker written notice and demand for payment and Bricker agreed
91. Pursuant to Bricker’s 2019 Strategic Performance Share Grant Agreement, based
on the total number of shares and share price for shares issued during the applicable period, plus
paragraph 8(d)(3) of Bricker’s Nonqualified Stock Option Grant Agreements, and paragraph
9(d)(3) of Bricker’s Strategic Performance Share Grant Agreements, Cigna sent written demand
for repayment to Bricker due to her violation of her contractual obligations. See Correspondence
22
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COUNT I
BREACH OF CONTRACT
(Against Bricker)
93. The allegations of the preceding paragraphs are incorporated herein by reference
with the same force and effect as if set forth in full below.
94. By virtue of Bricker accepting a position with a competitor in violation of her non-
competition obligations noted above, Bricker has breached -- or absent injunctive restraints
imminently will breach -- the terms of the restrictive covenants she agreed to in multiple contracts
95. Upon information and belief, Bricker has further breached her contractual
obligations as she does not intend to pay the $1,555,879 that she owes to Cigna pursuant to the
2020, 2021 and 2022 Restricted Stock Grant Agreements and the 2020, 2021 and 2022 Restricted
96. Upon information and belief, and as Cigna expects to establish upon further
investigation and discovery, absent judicial intervention in the form of an injunction, Bricker will
97. As a consequence of the foregoing, Cigna faces irreparable harm and damages in
an amount that is presently unascertainable, and of a nature that are incalculable, which absent
COUNT II
MISAPPROPRIATION OF TRADE SECRETS IN VIOLATION OF
THE MISSOURI UNIFORM TRADE SECRETS ACT (MUTSA)
(Against Defendants)
98. The allegations of the preceding paragraphs are incorporated herein by reference
with the same force and effect as if set forth in full below.
23
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99. Cigna possesses certain trade secrets and confidential information with which
Bricker is familiar, and which Bricker has a duty not to disclose or use outside of Cigna.
100. The information as described above derives independent economic value, actual
and potential, from not being generally known, and specifically from not being known to
102. Cigna has taken reasonable and adequate measures under the circumstances to
maintain the secrecy of its confidential business information and trade secrets, including by
requiring high level and experienced personnel such as Bricker to abide by the terms of the
103. Bricker’s potential employment in the position described by CVS will result in the
inevitable disclosure of the confidential information and trade secrets of Cigna. Such disclosure
will benefit Bricker and CVS, and violates the Missouri Uniform Trade Secrets Act, R.S. Mo.
417.450, et seq.
104. Bricker’s decision to proceed with this position constitutes a willful disregard of
Cigna’s trade secret rights. By the very nature of the duties of Bricker’s new position at CVS, it is
impossible that she would not use or disclose her knowledge of Cigna’s trade secrets to the
detriment of Cigna. As such, the decision to proceed with this position constitutes a threatened
105. Bricker’s conduct in proceeding with this position, and ignoring the concerns and
24
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106. As a consequence of the foregoing, Cigna faces irreparable harm and damages in
an amount that is presently unascertainable, and of a nature that are incalculable, which absent
COUNT III
TORTIOUS INTERFERENCE WITH CONTRACT
(Against CVS)
107. The allegations of the preceding paragraphs are incorporated herein by reference
with the same force and effect as if set forth in full below.
108. As detailed above, Bricker is subject to a number of valid and enforceable post-
110. Despite knowledge of Bricker’s contractual obligations to Cigna, CVS aided and
induced Bricker to breach her non-competition restrictions by hiring Bricker in violation of her
covenants.
111. CVS has no privilege or justification for its interference in Cigna’s contractual
112. As a consequence of the foregoing, Cigna faces irreparable harm and damages in
an amount that is presently unascertainable, and of a nature that are incalculable, which absent
COUNT IV
VIOLATION OF THE COMPUTER FRAUD AND ABUSE ACT, 18 U.S.C. § 1030, et seq.
(Against Bricker)
113. The allegations of the preceding paragraphs are incorporated herein by reference
with the same force and effect as if set forth in full below.
25
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114. Plaintiff brings this action under 18 U.S.C. § 1030(g) allowing any injured person
115. The company-issued cell phone device described in this Complaint is a “protected
computer” within the meaning of CFAA because it was used in or affecting interstate or foreign
high speed data processing device performing logical, arithmetic, or storage functions, or a data
storage facility or communications facility directly related to or operating in conjunction with such
device.
116. Cigna did not authorize Bricker to damage or destroy Bricker’s company-issued
117. Nonetheless, after Bricker resigned from Cigna to work for and serve CVS, upon
information and belief, Bricker knowingly transmitting a code or command to wipe her company-
issued cell phone, a ‘protected computer’ which belonged to Cigna, thereby causing damage to and
118. The Cigna information and data wrongfully wiped and deleted by Bricker resided
on a “protected computer.” This “protected computer” was used in interstate commerce and
communications, and it was a portal to and used to access the internet or other means of interstate
information, code, or command, and as a result of such conduct, intentionally causes damage
this section.”
26
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120. As a result, Bricker caused Cigna damages and loss to Cigna’s computers in excess
of $5,000. This loss includes the cost to Cigna of responding to Bricker’s violation described
above, which consisted of her wiping and deleting all of the information on her company-issued,
“protected computer”; a damage assessment; the attempted restoration and recovery of unavailable
data and electronically stored information that resided on Cigna’s “protected computer” to the
condition it was in prior to Bricker’s violations; and the investigation of Cigna’s “protected
computer” and related systems following Bricker’s violation, which caused the impairment and
121. As a consequence of the foregoing, Cigna has suffered and will continue to suffer
irreparable harm, loss and damage, the latter of which includes, but is not limited to, the impairment
to the integrity and availability of data and electronically stored information which belonged to
Cigna and resided on its computer, as alleged above, as well as other business damages, in an
amount to be determined at trial, which damages are ongoing and continue unabated at the time of
COUNT V
COMMON LAW UNFAIR COMPETITION
(Against Defendants)
122. The allegations of the preceding paragraphs are incorporated herein by reference
with the same force and effect as if set forth in full below.
and threatened misappropriation of Plaintiff’s trade secrets, constitute unfair competition with
124. As a direct and proximate result of Defendants’ actions, Plaintiff has been damaged
27
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125. Defendants’ conduct was willful, intentional and outrageous, evidencing evil
COUNT VI
UNJUST ENRICHMENT
(Against Bricker)
126. The allegations of the preceding paragraphs are incorporated herein by reference
with the same force and effect as if set forth in full below.
127. Upon information and belief Bricker does not intend to make payment of the
$1,555,879 she owes pursuant to the 2019, 2020, 2021, and 2022 Restricted Stock Grant
Agreements, the 2019, 2020, 2021, and 2022 Nonqualified Stock Option Grant Agreements, and
128. By violating her contractual obligations and refusing to pay Cigna, Bricker has been
129. As a result of Bricker’s actions, Cigna has suffered and will continue to suffer
financial injury and harm to its detriment, and to the benefit and gain of Bricker, in the amount of
$1,555,879.
COUNT VII
CONVERSION
(Against Bricker)
130. The allegations of the preceding paragraphs are incorporated herein by reference
with the same force and effect as if set forth in full below.
131. Upon information and belief Bricker does not intend to make payment of the
$1,555,879 she owes pursuant to the 2019, 2020, 2021, and 2022 Restricted Stock Grant
Agreements, the 2019, 2020, 2021, and 2022 Nonqualified Stock Option Grant Agreements, and
28
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132. By violating her contractual obligations and refusing to pay Cigna, Bricker has
WHEREFORE, by virtue of the foregoing acts and conduct complained of above, Plaintiff
Bricker and CVS for a period of twenty-four (24) months from the date of
from, directly or indirectly, and whether alone or in concert with others, doing any
of the following:
(1) Providing any services to, or for, CVS, or any other business or entity that
is engaged in a business similar to, or that competes with, the business of Cigna,
including specifically that Defendant Bricker shall not accept the position of
(2) Providing services to, or for, CVS, or any other business or entity that
competes with the business of Cigna, that will likely result in the disclosure of
Bricker shall not accept the position of CVS’s Chief Product Officer, Consumer
Health;
29
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D. Costs and disbursements of this action, including reasonable attorneys’ fees and
investigation fees pursuant to the Computer Fraud and Abuse Act, 18 U.S.C. §
E. Such other and further relief as the Court may deem equitable and just.
Pursuant to Rule 38(b) of the Federal Rules of Civil Procedure, Plaintiff demands a trial
30
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EXHIBIT A
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by
Before the
May 9, 2019
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Chairwoman Eshoo, Ranking Member Burgess, and members of the Subcommittee, thank you
for inviting me to testify at this hearing. I am Amy Bricker, R.Ph., Senior Vice President, Supply
Chain for Express Scripts.
I have had the privilege of working in the healthcare industry for most of my career. As a
registered pharmacist working in the retail pharmacy setting, I have seen first-hand the
opportunities we have to improve pharmacy care. Prior to joining Express Scripts, I served as
Regional Vice President of Account Management for Walgreens Health Services. During my ten
years at Express Scripts, I have held leadership roles in pharmacy network management, supply
chain economics, and retail contracting and strategy. As Senior Vice President, Supply Chain, I
am responsible for key relationships and strategic initiatives across the pharmaceutical supply
chain, including working with drug manufacturers and retail pharmacies to create value for
Express Scripts’ clients and keep medicine within reach for patients. My team also has
responsibility for developing value-based contracts to improve affordability, access, and care for
the complex and costly conditions many people face. Until recently, I had the honor of serving
on the Medicare Payment Advisory Commission (MedPAC).
I appreciate the opportunity to testify on the role Express Scripts plays in the supply chain and on
improving affordability and access to prescription drugs. Express Scripts helps more than 80
million Americans achieve better care at a lower cost, including those in health plans, union-
sponsored plans, state employee health plans, and public programs, including Medicare Part D
and Medicaid. We are proud to serve TRICARE, the health program for 9.4 million uniformed
service members, retirees, and their families, for more than 10 years. Express Scripts’ tools
include an innovative specialty pharmacy care model for costly and complex drugs; clinically-
based drug utilization reviews; clinically-based formulary management; medical and drug data
analysis; and specialized Therapeutic Resource Centers, with pharmacists specially trained to
serve patients with a range of conditions.
In December 2018, Cigna completed its combination with Express Scripts. Together, our
companies have industry-leading cost trend capabilities that are uniquely positioned to deliver
better care, expanded choice, and greater affordability. Our combined company’s 74,000
employees come to work every day to enhance the health, well-being, and peace of mind of the
more than 160 million customer relationships we serve globally.
Cigna is a global health services company; our subsidiaries are major providers of medical,
pharmacy, dental, disability, and related products and services in more than 30 countries and
jurisdictions around the world, including South Korea, China, India, the Middle East, and
Europe. Cigna is also the largest provider of expatriate benefits in the world. In the United
States, Cigna is one of the largest health services providers. We emphasize whole-person health
and clinical quality to deliver choice, affordability, and enhanced quality of life for our
customers and clients. Key enablers of our success are collaborative relationships with providers,
an emphasis on outcomes- and value-based reimbursement, robust patient support services, and
transparency tools for customers and clients to make informed decisions that address their
specific needs.
2
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1 https://www.cms.gov/research-statistics-data-and-systems/statistics-trends-and-
reports/nationalhealthexpenddata/downloads/forecastsummary.pdf
2 https://www.statbureau.org/en/united-states/inflation
3 http://lab.express-scripts.com/lab/drug-trend-report/~/media/29f13dee4e7842d6881b7e034fc0916a.ashx
4 http://lab.express-scripts.com/lab/drug-trend-report/2018-drug-trend-report
3
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With that context as background, our statement today focuses on the following topics:
Our efforts to drive improved affordability, predictability, and accelerate value-based
care for patients;
The role of rebates in the prescription drug supply chain; and,
Legislative and regulatory solutions to lower drug costs for patients.
Our Efforts to Drive Improved Affordability, Predictability, and Accelerate Value-Based
Care for Patients
We are at our best when there is competition in the marketplace. When there are multiple
therapies for a disease with similar clinical efficacy, we are able to leverage competition to drive
discounts for our clients and customers. Our approach begins by having independent panels of
healthcare professionals evaluate medicines (Pharmacy and Therapeutics Committee, or P&T
Committee), and once they have determined which are necessary for our members, we can then
negotiate with drug manufacturers to achieve lower net costs.
Express Scripts uses clinical expertise and scale to negotiate lower drug costs with drug
manufacturers, leveraging competition to help drive savings for clients, which include
employers, labor unions, health plans, the federal government, and states. These negotiations
serve to create competition in the market for prescription drugs, and the savings ultimately
benefit patients through lower premiums and reduced out-of-pocket costs. Additional savings are
realized when clients take advantage of Express Scripts’ clinical support services, which enable
individuals to lead healthier and more productive lives.
When it comes to prescription drugs, our goal is to achieve improved clinical outcomes at lower
costs. Express Scripts offers several innovative programs to help us achieve that goal:
Our SafeGuardRxSM programs help our clients closely manage high-cost drug classes
through a holistic approach that combines clinical care with advanced analytics, and
patient engagement supported by technology. Through SafeGuardRx Solutions, we have
leveraged value-based arrangements to expand access and lower costs in some of the
most challenging therapy classes, including hepatitis C, high cholesterol, cancer,
inflammatory conditions, pulmonary conditions, and multiple sclerosis.
One of our SafeGuardRx programs – The Diabetes Care Value Program – improves
pharmacy care while controlling plan costs for individuals with diabetes. Developed with
drug makers and launched in 2017, the program has reduced diabetes drug spending by
19 percent – a total savings of $42.6 million. The program combines specialized diabetes
pharmacy care with benefit strategies, such as utilization management and quality
pharmacy networks, and improved compliance with recommended treatment guidelines.
Our National Preferred Flex Formulary is a unique approach that provides employers
and health plans with the flexibility to take advantage of the possibility of a drug
manufacturer choosing to lower the price of a drug by offering an authorized generic
4
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alternative. Should the manufacturer offer an authorized generic, that product can be
added to the formulary. In the end, we care most about the lowest net cost of a drug, not
the rebate. We welcome manufacturers lowering their list prices so that patients can have
greater access to medications.
SmartShareRxSM offers employers and plan sponsors more flexibility in how they use
rebate savings. The program was established to share estimated rebate savings on eligible
medications to combat patients’ primary pain point: cost-sharing in the deductible phase.
However, the program has evolved to apply estimated rebate value to eligible
medications filled in all phases of the pharmacy benefit to reduce patients’ out-of-pocket
costs at the pharmacy counter. Despite the availability of point-of-sale rebate benefit
designs in the commercial market for years, we have had few employers and plan
sponsors take up this option. For more than 10 years, we have offered the option to
clients to provide rebate value at the point-of-sale.
Inside RxSM is a prescription savings program launched in partnership with
manufacturers and retail pharmacies to expand affordable access to brand and generic
medications for patients with no insurance, high deductibles, or high out-of-pocket costs,
by offering discounts to these patients at the point-of-sale. Since the launch of the
program in May 2017, we have helped patients save an estimated $400 million.
Express Scripts builds solutions that are as unique as the clients and patients we serve, working
to partner across the health care ecosystem to uncover opportunities, take action, and deliver
better outcomes. Real-time clinical alerts that reach physicians through electronic prescribing
systems can turn data into actionable patient intelligence, helping people stay on their therapy
regimen and avoid dangerous drug-drug interactions. Express Scripts’ Real Time Prescription
Benefit, launched last November, helps to simplify the patient’s experience with his or her
prescriber and improve transparency of drug costs. We provide patient-specific information and
pricing information directly into the physician’s Electronic Health Record (EHR) within seconds.
Physicians using electronic prescribing can see the following information to inform prescribing
decisions:
Alternative drugs and associated details, such as generic versus brand pricing;
Coverage information, including electronic prior authorization requirements, step therapy
requirements, or quantity limits; and,
The patient’s cost through each pharmacy dispensing channel: retail, home delivery or
specialty pharmacy.
By providing drug cost information and reconciling coverage issues at the point of prescribing,
we are mitigating confusion and pain points for patients at the pharmacy counter. These systems
are delivering measurable savings to patients at the pharmacy counter, while encouraging
providers and patients to communicate to make better-informed medication choices. Electronic
prior authorization capabilities are improving as well, eliminating hours of potential wait time for
prescribers and patients.
5
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Cigna and Express Scripts also directly provide patients real-time pricing information,
customized to their individual plans, via our websites and mobile apps, so patients can choose
the pharmacy that provides the most affordable dispensing option. Our innovations help better
inform patients of their cost sharing and treatment options, improving affordability and
predictability for patients.
As we look ahead to gene therapies, a growing category of high cost drugs, we are actively
developing new value-based payment models. For example, we have periodic payment
agreements with manufacturers that are structured as value-based contracts to reward efficacy.
Simply put, if a drug is working, the company gets a payment. If not, the payment stops.
Similarly, we have worked to develop “discontinuation” payment arrangements that require
payment to be returned if a patient does not see a benefit from the drug.
Express Scripts’ innovative pharmaceutical and pharmacy solutions position Cigna to offer even
greater value to our clients, public program partners, and patients. The combined company
integrates Express Scripts’ pharmacy benefit management with Cigna’s health care products and
services.
For example, over seven million Americans diagnosed with diabetes use insulin. For some
patients, the increasing price of insulin limits access and adherence. When Cigna and Express
Scripts announced the combination, we clearly stated we would improve choice, affordability,
and predictability. As discussed at the April 10th Oversight and Investigations Subcommittee
hearing on insulin, within the first 100 days of our combination we were able to launch a new
Patient Assurance Program which will bring additional affordability and predictability to
customers who rely on insulin to manage their diabetes. Furthering Cigna and Express Scripts’
respective historical efforts in diabetes disease management, the Patient Assurance Program
establishes a lower, fixed out-of-pocket cost for covered insulins, ensuring customers will pay no
more than $25 out-of-pocket when filling a 30-day insulin prescription at a retail pharmacy or
through home delivery. This is an early example of the accelerated change and innovation our
new company is positioned to drive in the financing and delivery of care.
The Role of Rebates in the Prescription Drug Supply Chain
As drug pricing strategies have evolved over time, drug makers have elected to offer discounts,
or rebates, rather than lower the price of their medicines in an effort to improve affordability.
Part of our job is to negotiate discounts, and then pass along the value so plans can offer lower
premiums and provide robust benefits.
Not all drugs are discounted. In fact, drug makers offer rebates on a relatively small number of
medicines. Approximately 90 percent of all prescriptions filled are generics. The remaining 10
percent are branded drugs, which represent 70 percent of the spending on prescription drugs. We
believe there are targeted solutions to address this 70 percent. We work to do this through
sophisticated, evidence-based negotiations for clinically equivalent therapies.
Solutions for driving lower drug spending and fostering the use of lower net cost treatments
often include negotiating discounts or rebates. The role of rebates in prescription drug pricing
6
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has been mischaracterized. Rebates are not the cause of increasing drug prices. Rebates are
discounts paid by drug manufacturers after a patient receives a manufacturer’s drug. In the
system today, rebates are used to reduce overall health care costs for consumers. Today,
employers and others use the value of discounts to help keep premiums affordable and lower out-
of-pocket costs.
Most drugs do not involve a rebate structure. For example, rebates are not typically offered for
generic medications, for drugs without market competition (i.e., sole-source brand drugs), or for
drugs administered by a physician. According to a study of drugs covered under Medicare Part D
by the actuarial firm Milliman, 81 percent of all drugs analyzed do not offer rebates and 64
percent of brand drugs analyzed do not offer rebates.5 Many sole-source, highly expensive
specialty drugs, like drugs to treat cancer, do not offer rebates and continue to be priced higher
and higher:
In 2017, non-rebated drugs treating depression, high-cholesterol, infertility, and other
conditions all registered price increases of more than 15 percent.6 This means
beneficiaries who take these drugs will not benefit under the Department of Health and
Human Services’ (HHS) recently proposed rule reforming rebates in Medicare Part D and
Medicaid.
List prices for oral oncology medications, which are not rebated or discounted to any
significant extent, doubled between 2011 and 2016, from $20 per unit to $40 per unit.7.
The Milliman study found that on average, the highest cost drugs have the lowest
manufacturer rebates (as a percentage of gross drug cost), for brand drugs with rebates.
Looking at the 39 oral oncology medications on the market in 2010, six experienced 100-
200 percent inflation between 2010 and 2016; one was greater than 300 percent and
another one was greater than 800 percent.8 Rebates are not available on these drugs, but
the manufacturers continue to increase list prices. Under HHS’s proposed rebate rule,
beneficiaries using non-preferred and specialty drugs would therefore see premiums
increase, and will not see a reduction in cost at the pharmacy counter.
Restricting or eliminating rebates does not assure improved affordability for patients or
taxpayers:
A study by the actuarial firm Oliver Wyman found that rebates reduced overall costs in
Medicare Part D by $34.9 billion from 2014 to 2018, and eliminating rebates would have
driven Part D premiums higher by 52 percent in 2018 alone.9 From 2014 to 2018, the
5 Milliman, Prescription Drug Rebates and Part D Drug Costs. July 16, 2018. The Milliman analysis focused on approximately
1,300 drug and therapeutic class combinations, reflecting 97 percent of 2016 Part D gross drug spending.
6 Express Scripts, Let’s Talk About Rebates, May 15, 2018. http://lab.express-scripts.com/lab/insights/industry-updates/lets-talk-
about-rebates
7 Express Scripts, The Cost of Hope: 5 Things to Know about the Cost of Cancer Drugs. May 30, 2017. http://lab.express-
scripts.com/lab/insights/industry-updates/the-cost-of-hope-5-things-to-know-about-the-cost-of-cancer-drugs
8 http://lab.express-scripts.com/lab/insights/industry-updates/sharing-smarter
9 Oliver Wyman, Premium Impact of Removing Manufacturer Rebates From the Part D Program. July 2018.
https://www.pcmanet.org/wp-content/uploads/2018/07/OW-Part-D-Manufacturer-Rebate-Premium-Impact-FINAL.pdf
7
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national average Part D premium increased less than two percent per year. Manufacturer
rebates are one of the major contributors to holding premiums relatively flat over the last
five years.
The Centers for Medicare and Medicaid Services’ (CMS) Office of the Actuary (OACT),
in reviewing HHS’s’ proposed rule addressing rebates estimates that Part D premiums
will increase by as much as 25 percent and that federal spending will increase by $196
billion over ten years.10
The Congressional Budget Office (CBO) analysis of the proposed rule confirms these
estimates. The analysis finds that implementing the proposed rule will increase federal
spending by about $177 billion over ten years while increasing premiums for seniors. The
CBO also does not expect manufacturers to reduce list prices following implementation
of the rule.11
Data released by CMS for 2019 Part D premiums, and national average plan bids, show a
negative trend for the first time in more than a decade.12 CMS cites drug manufacturer
and pharmacy price concessions as a factor driving lower costs.
A Health Affairs analysis of the most recent National Health Expenditures prescription
drug forecast for 2017-2026 concluded that increased rebates “contributed to lower net
prices for many prescription drugs in recent years and are expected to have dampened
prescription drug spending growth in 2017.”13
In the Medicare Part D program, rebate savings are passed to Part D plan sponsors and are
responsible for saving enrollees and taxpayers billions of dollars each year since the Part D
program began. CMS requires Part D plan sponsors to show how they are using rebates to
deliver coverage to their members. All Part D plan sponsors must submit to CMS detailed annual
reporting of rebate amounts by drug and Part D plan. In addition to reporting individual drug
rebates, plan sponsors must also report to CMS how much of the rebate amounts were retained
by the pharmacy benefit manager (PBM) rather than being shared with the sponsor, rebate
guarantee amounts, rebate amounts reflected at the point-of-sale, third-party payer claim rebate
amounts, and any other rebate amounts not already reported. Not only are plan sponsors required
to report these rebate amounts to CMS, but they must also report what the rebates are for, such as
formulary or tier placement, market share targets, volume targets, inflation rebates, or rebate
guarantees. Finally, plan sponsors must report any administrative fees charged to
manufacturers.14
10
https://aspe.hhs.gov/system/files/pdf/260591/OACTProposedSafeHarborRegulationImpacts.pdf
11
https://www.cbo.gov/system/files/2019-05/55151-SupplementalMaterial.pdf
12 2019 Medicare Advantage ratebook and Prescription Drug rate information. https://www.cms.gov/Medicare/Health-
Plans/MedicareAdvtgSpecRateStats/Ratebooks-and-Supporting-Data-
Items/2019Rates.html?DLPage=1&DLEntries=10&DLSort=0&DLSortDir=descending
13 Health Affairs, National Health Expenditure Projections, 2017–26: Despite Uncertainty, Fundamentals Primarily Drive
Data-and-Systems/Computer-Data-and-Systems/HPMS/HPMS-Memos-Archive-Weekly-Items/SysHPMS-Memo-2018-May-
30th.html
8
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In the commercial market, rebates are an effective tool that employers and health plans use to
generate more savings for prescription drugs. Employers and other plan sponsors that work with
Express Scripts choose how rebates are used. Some plan sponsors use them to lower premiums
and cost sharing, others choose to expand access, or provide discounts to consumers at the point-
of-sale. Nearly half of Express Scripts’ clients have opted for 100 percent pass-through of
rebates. Express Scripts passes approximately 95 percent of rebates, discounts, and price
reductions back to its core PBM commercial and health plan clients and their customers.
Express Scripts welcomes the opportunity to work with policymakers to bring down drug costs
for patients at the pharmacy counter. There are a number of opportunities to address high list
prices and patient exposure at the pharmacy counter that address competition, access to generics,
and benefit designs. However, legislative or regulatory efforts to eliminate or restrict the ability
of plan sponsors or PBMs to negotiate lower overall costs will lead to higher drug prices not only
for Medicare beneficiaries and taxpayers, but also for millions of individuals who access health
benefits through their employers.
We believe there are more direct and effective ways to deliver relief to patients most in need
without disrupting coverage for millions. For example, in addition to the policy opportunities
discussed later, we believe a better way to address patient out-of-pocket costs is to allow payers
and their PBMs to use the power of benefit designs to limit beneficiary exposure while ensuring
payers continue to have all of the tools at their disposal to negotiate lower costs. For individuals
in high-deductible health plans, this could include changes to the tax code to allow coverage of
chronic care treatments and other services pre-deductible, for example. Additionally, many have
discussed possible changes to the Medicare Part D benefit design to achieve lower patient out-of-
pocket costs, and Cigna and Express Scripts welcome the opportunity to be a constructive
participant in those efforts for both Medicare Part D beneficiaries and patients in the commercial
market.
Legislative and Regulatory Solutions to Lower Drug Costs for Patients
We support efforts by Congress and the Administration to use market-based solutions that put
downward pressure on prescription drug prices through competition, consumer choice, and open
and responsible drug pricing. For example, last year we endorsed legislation championed by Rep.
Buddy Carter and others to ensure patients are told the lowest cost option available to them at the
pharmacy counter. We were pleased the legislation became law, and included a provision
authored by Rep. John Sarbanes and Rep. Bill Johnson to provide more transparency into so-
called “pay-for-delay” agreements that prevent biosimilar drugs from entering the marketplace.
Looking to the future, we believe efforts to address out-of-control drug pricing through
legislative and regulatory actions should include:
Prioritizing reforms to lower costs and protect patient access in Medicare:
o Public programs must have the ability to leverage the commercial market’s
successful utilization management tools that lower costs while protecting patient
access. We support efforts to modify the six protected “classes of clinical
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concern” in Part D, where all or substantially all drugs in a class must be covered,
allowing drug manufacturers to name their price with little opportunity to
negotiate. CMS’s plan to only moderate the effect of protected classes—not
eliminate them—would save $2 billion over 10 years.
o There are also clear opportunities to achieve savings in the Medicare Part B
program, including introducing Part D utilization management tools into Part B
and potentially shifting some Part B drugs to Part D. Because of the complexity
involved with identifying the “candidate” drugs for moving into Part D, along
with assessing the consequences and impacts of doing so for both programs, we
strongly recommend CMS engage stakeholders through a work group-type
process where sample, de-identified data could be shared for mutual evaluation.
o We support efforts to ensure the MedPAC and the Medicaid and CHIP Payment
Advisory Commission (MACPAC) have access to aggregate, de-identified
information submitted currently by PBMs, Part D sponsors, and Medicare
Advantage plans to CMS. Legislation to address this issue was recently
introduced by several members of this Committee, including Rep. Buddy Carter,
Rep. Tom O’Halleran, Rep. Greg Gianforte, and Rep. Peter Welch. We applaud
the Committee for its recent passage.
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15 https://www.cbo.gov/publication/55181
16
https://www.ftc.gov/news-events/media-resources/mergers-competition/pay-delay
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Mexico and Canada for ten years. These provisions will limit the ability of
Congress to address the 12-year exclusivity period for brand-name biologics.
Stopping Orphan Drug Act abuses:
o Pharmaceutical manufacturers have been accused of abusing the Orphan Drug
Act, which was introduced to incentivize drug manufacturers to prioritize the
development of “orphan drugs,” drugs used to treat an illness or disease that
affects fewer than 200,000 people. We support efforts to ensure that this pathway
is used only for true orphan designation, and not, as some observers say, as a legal
cover to seek specious orphan drug designations.17
Thank you for the opportunity to be here today, and for the consideration of our views. We look
forward to working with you and others to improve the affordability and accessibility of
prescription drugs for all Americans. Many of the proposals highlighted in my testimony are
achievable if we work collaboratively, throughout the system, to overcome the challenges facing
public and private stakeholders, and the health of our nation.
I welcome the opportunity to discuss these issues with you and look forward to your questions.
17
https://khn.org/news/drugmakers-manipulate-orphan-drug-rules-to-create-prized-monopolies/
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EXHIBIT B
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Cigna Corporation
Cigna Corporation (“Cigna”) has granted you the number of shares of restricted stock of Cigna set
forth below in this Restricted Stock Grant Agreement (“Restricted Stock Grant” or “Grant”) under
the Cigna Long-Term Incentive Plan (“Plan”). The date of your Restricted Stock Grant (“Grant
Date”) and the dates on which your Grant is scheduled to vest (“Vesting Dates”) are also indicated
below. The award is subject to the provisions of the Plan and the Terms and Conditions below.
The award of Shares pursuant to this Restricted Stock Grant is expressly conditioned on your
acceptance of the terms and conditions of this Grant and of the attached Confidentiality, Non-
Competition and Non-Solicitation Agreement (or, with respect to Cigna company employment in
California, the attached Confidentiality and Non-Solicitation Agreement) (as applicable, the
“Covenant Agreement”). You should carefully read all the terms and conditions of this Restricted
Stock Grant and the attached Covenant Agreement and be sure you understand what they say and
what your responsibilities and obligations are before you click on the ACCEPT button to
acknowledge and agree to this Grant.
If you are not willing to agree to all of the Grant and Covenant Agreement terms and conditions, do
not accept the Grant and do not click the ACCEPT button for the Restricted Stock Grant
Acknowledgment and Agreement. If you do not accept the Grant, you will not receive the benefits
of the Grant.
If you do click on the ACCEPT button, you are accepting and agreeing to all of the terms and
conditions of this Restricted Stock Grant and the Covenant Agreement, which include, among other
things, restrictive covenants such as non-competition, customer and employee non-solicitation and
non-disclosure provisions and litigation cooperation and intellectual property assignment and
assistance provisions.
Vesting Schedule: Please refer to Appendix: Vesting Schedule on the last page
of this document
In addition to this Restricted Stock Grant and the attached Covenant Agreement, you should also
read the Plan Document and Key Contacts and Reference Materials document (attached to the
Plan) and indicate that you have done so and agree to the terms of all documents attached to this
Grant by checking the appropriate box in the online grant acceptance process. The Key Contacts
and Reference Materials document contains information on how to get important stock award
information (such as the Plan Prospectus, Tax Considerations and Cigna's Securities Transactions
and Insider Trading Policy) and whom to contact if you have questions.
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Please be aware that the Cigna Securities Transactions and Insider Trading Policy places
restrictions on your transactions in Cigna securities and requires certain Cigna employees to obtain
advance permission from the Corporate Secretary before executing transactions in Cigna securities.
If you have questions about your award, please contact Cigna Shareholder Services by email at
shareholderservices@cigna.com or by phone at 215.761.3516.
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Important Notice: Restricted Stock Grant and Covenant Agreement Acknowledgment and
Agreement
Scroll down for the TERMS AND CONDITIONS of the Restricted Stock Grant.
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These Terms and Conditions are an important part of your grant of Restricted Stock from Cigna
Corporation (Cigna). The terms of your Restricted Stock grant are in: (a) the electronic Restricted
Stock Grant Agreement above, (b) these Terms and Conditions, (c) the Covenant Agreement and
(d) the applicable Plan provisions.
Certain words in this document with first letters capitalized are defined in the Restricted Stock
Grant Agreement above, these Terms and Conditions or Article 2 of the Plan. This grant is void if
you are not an employee of Cigna or a Subsidiary (a Cigna company) on the Grant Date.
Unless otherwise determined by the Committee or its designee, your Shares will vest on the
applicable Vesting Date if you are on a leave of absence on such date.
In certain situations your vesting date may be earlier than the Vesting Dates described in the
Appendix or your Shares will continue to vest after your Termination date:
(a) The Shares will vest upon your Termination if it is a Termination Upon a Change of
Control or is due to your death or Disability.
(b) The Shares may continue to vest following your Termination if:
(1) It is due to your Early Retirement or Retirement;
(2) The date of Termination due to your Early Retirement or Retirement is at least six
(6) months after the Grant Date, provided that this requirement may be waived by
(i) Cigna's Senior Human Resources Officer in certain limited and unanticipated
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circumstances, or (ii) with respect to the CEO or any executive officer who is
subject to the requirements of Section 16(a) of the Exchange Act (“Executive
Officer”), the Committee;
(3) You will not be receiving severance pay from any Cigna company (whether under
any severance benefit plan or any contract, agreement or arrangement);
(4) You continue to comply with the terms and conditions of the Covenant Agreement
and any other restrictive covenant agreement(s) applicable to you during the
continued vesting period; and
(5) The Committee or its designee (including Cigna’s Senior Human Resources
Officer) approves the continued vesting before your Termination.
If you want to be considered for continued vesting when you retire, you should review the
“Ready to Retire” page on Iris for more information or contact Cigna Shareholder Services
(shareholderservices@Cigna.com) if you have questions. You must submit your
consideration request far enough in advance of your retirement so there is time to process
your request.
(c) If your Termination is an Involuntary Termination, you will continue to vest in the Shares
for a period of twelve (12) months following the date of your Involuntary Termination as if
you had remained employed for such twelve (12) month period. For example, if the date
of your Involuntary Termination is June 1, 2022 you will vest in any Shares scheduled to
vest on or before June 1, 2023 on the otherwise scheduled Vesting Date.
The continued vesting described in this paragraph 3(c) is subject to (and contingent upon)
your ongoing compliance with the terms and conditions of the Covenant Agreement and
any other restrictive covenant agreement(s) applicable to you during the continued vesting
period.
(d) If approved by (1) Cigna's Senior Human Resources Officer or his or her designee, or (2)
the Committee (with respect to the CEO or any Executive Officer) before your
Termination, your Shares may continue to vest following your Termination if you (i)
continue to provide services to Cigna as a consultant or contractor, and (ii) continue to
comply with the terms and conditions of the Covenant Agreement and any other restrictive
covenant agreement(s) applicable to you during the continued vesting period.
The continued vesting period, if any, under this paragraph 3(d) shall be equal to the period
of your continued services to Cigna as a consultant or contractor.
(e) For avoidance of doubt, the continued vesting described in paragraphs 3(b), 3(c) and 3(d)
above is expressly subject to (and contingent upon) your ongoing compliance with the
Covenant Agreement and any other restrictive covenant agreement(s) applicable to you
during the continued vesting period. If a Violation (as defined below) occurs or is
discovered following your Termination, then, in addition to any other remedies available to
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Cigna under this Restricted Stock Grant or the Covenant Agreement, any then unvested
Shares shall be immediately and automatically forfeited.
4. Voting Rights; Dividends
(a) You have the right to vote the Shares. If you forfeit a Share, you will also forfeit the right
to vote the Share.
(b) You have the right to receive dividends on the Shares. Dividends paid on the Shares
during the Restricted Period will be held by Cigna. Subject to the forfeiture provisions of
paragraph 4(c), your right to receive accumulated dividends on a Share will vest on the
scheduled Vesting Date for the Share described in the Appendix (Scheduled Vesting Date).
Once a Share vests, your right to future dividends on the Share, and the method of
payment, will be the same as for any other Cigna shareholder.
(c) If you forfeit a Share, you will also forfeit the right to any accumulated and future
dividends related to the Share. Even if you do not forfeit a Share, you will forfeit the right
to any accumulated dividends on the Share if you have a Termination before the Scheduled
Vesting Date for a Share (even if the Share vests under paragraph 3).
(d) Vested accumulated dividends, less applicable taxes withheld, will be paid to you in a
lump sum within 70 days after the Scheduled Vesting Date. Cigna will not pay any interest
on the accumulated dividends.
5. Taxes at Vesting
When the Shares vest, you must satisfy any required tax withholding obligation. Cigna reserves
the right to withhold enough newly-vested Shares to cover all or part of any applicable tax
withholding. However, if section 83(b) of the U.S. Internal Revenue Code of 1986, as amended,
applies to you and you make a timely election under that provision, you must make an immediate
cash payment to satisfy any required tax withholding obligation.
7. Conditions of Grant
(a) By accepting the grant, you are agreeing:
(1) to the Inventions provision in paragraph 7(b);
(2) to the restrictions contained in the attached Covenant Agreement and in paragraph
7(c)(2) below (such restrictions collectively, the “Promises”);
(3) to notify Cigna if you accept an offer to perform services for any individual or
entity while you are subject to the non-competition Promise under the Covenant
Agreement. Such notice shall be provided by email to noncompete@express-
scripts.com within 10 days of your acceptance of the offer and shall identify the
individual or entity and your anticipated start date;
(4) to disclose the terms of the Promises (including, without limitation, the Promises
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You understand and agree that the conditions of the grant set forth in this paragraph 7(a)
are a material part of the inducement for Cigna's granting you the Shares and essential pre-
conditions to your eligibility to exercise any rights associated with the Shares and retain
any benefit from the vesting of the Shares.
The award of Shares pursuant to this Restricted Stock Grant is expressly conditioned on
your acceptance of the terms and conditions of this Grant and of the attached Covenant
Agreement. If you decide to accept this Restricted Stock Grant, you are accepting and
agreeing to all of the terms and conditions of this Grant and of the attached Covenant
Agreement, which include, among other things, restrictive covenants such as non-
competition, customer and employee non-solicitation and non-disclosure provisions and
litigation cooperation and intellectual property assignment and assistance provisions.
You should review the terms of this Grant and the Covenant Agreement carefully to ensure
that you understand what they say and what your responsibilities and obligations are
before you click on the accept button to acknowledge and agree to this Grant.
(b) Inventions
(1) You hereby assign and promise to assign to Cigna companies or their designee, all
your right, title, and interest in and to any and all current and future Inventions. You
acknowledge that all original works of authorship which you make (whether alone or
jointly with others) within the scope of your Cigna company employment and which are
protectable by copyright are “works made for hire,” as defined in the United States
Copyright Act.
(2) You agree to (i) maintain and make available adequate current records, including
electronic records, notes, sketches and drawings, of all Inventions you make, and (ii)
disclose such Inventions in writing upon request. These records will remain the property of
Cigna companies.
(3) If in the course of your Cigna company employment, you incorporate a Prior
Invention into any Cigna company work product, you grant Cigna companies a
nonexclusive, royalty-free, irrevocable, perpetual, worldwide license to use the Prior
Invention as part of or in connection with the work product. Within 45 days after the date
of this grant, you agree to notify Cigna Shareholder Services
(shareholderservices@Cigna.com) of any Prior Inventions that you are not assigning under
this paragraph 7(b).
(4) “Inventions” means any and all inventions, original works of authorship,
developments, concepts, sales methods, improvements, trade secrets, or similar intellectual
property, whether or not patentable or registrable under copyright or similar laws, that
relate to any Cigna company’s current or proposed business, work products or research and
development which you have or will solely or jointly conceive, develop, reduce to practice,
or fix during your Cigna company employment.
(5) “Prior Inventions” means all inventions, original works of authorship,
developments, concepts, sales methods, improvements, trade secrets or similar intellectual
property, whether or not patentable or registrable under copyright or similar laws, that
relate to any Cigna company’s current or proposed business, work products or research and
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development which you conceived, developed, reduced to practice or fixed before your
Cigna company employment and which belong to you.
(c) Violation
You will engage in a “Violation” if, directly or indirectly, you engage in any willful
misconduct as described in paragraph 7(c)(1) below, or you break any of the Promises.
(1) Willful Misconduct:
(A) You have a Termination initiated by a Cigna company because you
engaged in conduct that constitutes a gross violation of Cigna's Code of
Ethics and Principles of Conduct or other employment policies.
(B) You do anything else while an employee of any Cigna company that is not
discovered by the company until after your Termination and that would, if
you had still been employed at the time of the discovery, be reason for
your Termination for willful misconduct, as described above.
(2) Promise to Assist with Patent and Copyright Registrations:
(A) You Promise that, during your Cigna company employment and after your
Termination, you will assist Cigna companies, should they request and at
Cigna's expense, to secure their rights (including any copyrights, patents,
trademarks or other intellectual property rights) in or relating to the
Inventions in any and all countries, including by:
(i) disclosing to Cigna companies all pertinent information and data;
and
(ii) executing all applications, assignments or other instruments
necessary to apply for and obtain these rights and assign them to
Cigna companies.
8. Consequences of a Violation: Payment to Cigna
Important: This paragraph 8 is not Cigna's only remedy for a Violation. Cigna may seek any
additional legal or equitable remedy, including as described in the Covenant Agreement.
(a) You will immediately forfeit all unvested Shares if you engage in any Violation at any
time.
(b) You must immediately make the Payment described in paragraph 8(c) to Cigna in the
manner described in paragraph 8(d) if:
(1) You engage in a Violation of the non-competition or non-solicitation restrictions of
the Covenant Agreement; or
(2) You engage in a Violation described in paragraph 7(c)(1) (willful misconduct) or
any other Violation (e.g. you disclose Cigna company Confidential Information in
violation of the Covenant Agreement) at any time.
(c) “Payment” is the value you realize from any Shares that vest during the 12-month period
prior to the date of your Termination and thereafter. The Payment will equal:
(1) The number of Shares that vest during the applicable period;
multiplied by
(2) The Fair Market Value of those Shares on their Vesting Date;
plus
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(3) The total amount of all dividends, if any, paid to you on those Shares through the
date of the Payment.
(d) Cigna will recover the Payment from you by any means permitted by applicable law, at the
sole discretion of Cigna management, including but not limited to any or all of the
following methods:
(1) If you have any Shares in a Stock Account or in any other account in book-entry
form when a Violation occurs, Cigna will take back from you the whole number of
Shares that has a total Fair Market Value as of the date of the Violation up to, but
not more than, the Payment amount.
(2) Cigna will, to the extent permitted by applicable law, reduce:
(A) The amount of any payments that any Cigna company owes you for any
reason (including without limit any payments owed to you under any
nonqualified retirement, deferred compensation or other plan or
arrangement) by
(B) The Payment amount.
This reduction will not occur until the date a future payment to you is due.
(3) Cigna will send you a written notice and demand for all or part of any Payment
amount. Within 30 days after you receive that notice and demand, you must make
the Payment to Cigna.
(e) (1) If you were an Executive Officer at any time during the 24-month period before
the date of a Violation of the Covenant Agreement, the Committee will have the
sole discretion to waive your obligation to make all or any part of the Payment
(described in this paragraph 8) and to impose conditions on any waiver.
(2) If you are in Career Band 6 or higher on your Termination date but not subject to
paragraph 8(e)(1) above, Cigna's Restrictive Covenant Review Committee will
have the sole discretion to waive your obligation to make all or any part of the
Payment (described in this paragraph 8) and to impose conditions on any waiver.
(3) Otherwise, Cigna's Senior Human Resources Officer, or his or her designee, will
have the sole discretion to waive your obligation to make all or any part of the
Payment and to impose conditions on any waiver.
(4) Determinations of the Committee, the Restrictive Covenant Review Committee, or
Cigna's Senior Human Resources Officer (or his or her designee), will be final and
binding on all parties.
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Cigna, its stock plan administrator and its transfer agent will try to process your stock transaction
requests in a timely manner; however, Cigna makes no promises or guarantees to you relating to
the market price of the Shares or to the time it may take to act on your request to sell the Shares.
By accepting this Restricted Stock grant:
(a) You acknowledge that the action you request may not be completed until several days after
you submit it.
(b) You agree to assume the risks, including the risk that the market price of the Shares may
change, related to delays described in paragraph 10(a) between the time you ask for any
Shares to be sold and the time your Shares are actually sold.
11. Applicable Law
You understand and agree that, except as otherwise provided in the Covenant Agreement, the terms
and conditions of this Restricted Stock Grant and all determinations made under the Restricted
Stock Grant Agreement, the Plan, and these Terms and Conditions will be interpreted under the
laws of the State of Delaware, without regard to its conflict of laws rule.
For the avoidance of doubt, the terms and conditions of the Covenant Agreement and all
determinations made under the Covenant Agreement will be interpreted under applicable state law
as set forth in the Covenant Agreement.
12. Arbitration
Except as otherwise provided in the Covenant Agreement, if you have an agreement with Cigna to
arbitrate employment-related disputes, you agree to resolve any disputes relating to this Restricted
Stock Grant through arbitration.
13. Acceptance
If you disagree with any of these Terms and Conditions or the terms and conditions of the
Covenant Agreement, YOU MUST NOT ACCEPT THE RESTRICTED STOCK GRANT. If
you sign the Restricted Stock Grant or the Covenant Agreement, or acknowledge your acceptance
electronically or otherwise, you will be:
(a) Agreeing to all the terms and conditions of the Restricted Stock Grant and of the Covenant
Agreement, including the Inventions provision in paragraph 7(b) and all of the Promises;
(b) Warranting and representing to Cigna that you are, and will remain, in full compliance
with all applicable terms and conditions;
(c) Authorizing Cigna to recover the Payment described in paragraph 8 and to seek any other
available remedy pursuant to the Covenant Agreement, if you engage in a Violation; and
(d) Appointing Cigna as your agent and attorney-in-fact to secure rights with respect to
Inventions if unable to obtain your signature as described in paragraph 9.
M8N6U23A
03/11/2022 11:48 AM U.S. Eastern Standard Time
ACCEPTED
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Date Quantity
03/01/2023 679
03/01/2024 679
03/01/2025 680
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EXHIBIT C
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Cigna Corporation
Cigna Corporation (“Cigna”) has granted you the option to purchase the number of shares of Cigna
Common Stock set forth below in this Option Grant Agreement (“Option Grant”) under the Cigna Long-
Term Incentive Plan (“Plan”). The date of your Option Grant (“Grant Date”), the dates on which your
Option Grant is scheduled to vest (“Vesting Dates”) and the date on which it is scheduled to expire
(“Expiration Date”) are also indicated below. The award is subject to the provisions of the Plan and the
Terms and Conditions below.
The award of Options pursuant to this Nonqualified Stock Option Grant is expressly conditioned on your
acceptance of the terms and conditions of this Option Grant and of the attached Confidentiality, Non-
Competition and Non-Solicitation Agreement (or, with respect to Cigna company employment in
California, the attached Confidentiality and Non-Solicitation Agreement) (as applicable, the “Covenant
Agreement”). You should carefully read all the terms and conditions of this Option Grant and the
attached Covenant Agreement and be sure you understand what they say and what your responsibilities
and obligations are before you click on the ACCEPT button to acknowledge and agree to this Option
Grant.
If you are not willing to agree to all of the Option Grant and Covenant Agreement terms and conditions,
do not accept the Option Grant and do not click the ACCEPT button for the Option Grant
Acknowledgment and Agreement. If you do not accept the Option Grant, you will not receive the
benefits of the Option Grant.
If you do click on the ACCEPT button, you are accepting and agreeing to all of the terms and
conditions of this Option Grant and the Covenant Agreement, which include, among other things,
restrictive covenants such as non-competition, customer and employee non-solicitation and non-
disclosure provisions and litigation cooperation and intellectual property assignment and assistance
provisions.
Vesting Schedule: Please refer to Appendix: Vesting Schedule on the last page of this
document
In addition to this Nonqualified Stock Option Grant and the attached Covenant Agreement, you should
also read the Plan Document and Key Contacts and Reference Materials document (attached to the Plan)
and indicate that you have done so and agree to the terms of all documents attached to this Option Grant
by checking the appropriate box in the online grant acceptance process. The Key Contacts and Reference
Materials document contains information on how to get important stock award information (such as the
Plan Prospectus, Tax Considerations and Cigna's Securities Transactions and Insider Trading Policy) and
whom to contact if you have questions.
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Please be aware that the Cigna Securities Transactions and Insider Trading Policy places restrictions on
your transactions in Cigna securities and requires certain Cigna employees to obtain advance permission
from the Corporate Secretary before executing transactions in Cigna securities.
If you have questions about your award, please contact Cigna Shareholder Services by email at
shareholderservices@cigna.com or by phone at 215.761.3516.
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Important Notice: Option Grant and Covenant Agreement Acknowledgment and Agreement
Scroll down for the TERMS AND CONDITIONS of the Option Grant.
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These Terms and Conditions are an important part of your grant of a nonqualified stock option (Option)
from Cigna Corporation (Cigna). The terms of your Option are in (a) the electronic Option Grant
Agreement above, (b) these Terms and Conditions, (c) the Covenant Agreement, and (d) the applicable
Plan provisions.
Certain words in this document with first letters capitalized are defined in the Option Grant Agreement
above, these Terms and Conditions, or Article 2 of the Plan. This grant is void if you are not an employee
of Cigna or a Subsidiary (a Cigna company) on the Grant Date.
1. The Option
The Option gives you the right to buy a certain number of shares of Cigna Common Stock (Shares)
during the Option Period (described in paragraph 2) at the Option Price. Your Option Grant Agreement
lists the number of Shares and your Option Price. To buy the Shares at the Option Price, you must
exercise the Option.
(1) The date of Termination due to your Early Retirement or Retirement is at least six (6)
months after the Grant Date, provided that this requirement may be waived by (i) Cigna's
Senior Human Resources Officer in certain limited and unanticipated circumstances, or
(ii) with respect to the CEO or any executive officer who is subject to the requirements of
Section 16(a) of the Exchange Act (“Executive Officer”), the Committee;
(2) You will not be receiving severance pay from any Cigna company (whether under any
severance benefit plan or any contract, agreement or arrangement);
(3) You continue to comply with the terms and conditions of the Covenant Agreement and
any other restrictive covenant agreement(s) applicable to you during the continued
vesting period; and
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(4) The Committee or its designee (including Cigna’s Senior Human Resources Officer)
approves the continued vesting before your Termination.
If you want to be considered for continued vesting when you retire, you should review the
“Ready to Retire” page on Iris for more information or contact Cigna Shareholder Services
(shareholderservices@Cigna.com) if you have questions. You must submit your consideration
request far enough in advance of your retirement so there is time to process your request.
A Termination resulting from a Cigna divestiture, outsourcing or other business transaction where
you become employed by the buyer, vendor or other entity involved in the transaction will not
constitute a Retirement or Early Retirement under this paragraph 3(b).
(c) The Option will continue to vest for a period of twelve (12) months following the date of your
Involuntary Termination as if you had remained employed for such twelve (12) month period.
For example, if the date of your Involuntary Termination is June 1, 2022 you will vest in any
portion of the Option scheduled to vest on or before June 1, 2023 on the otherwise scheduled
Vesting Date.
The continued vesting described in this paragraph 3(c) is subject to (and contingent upon) your
ongoing compliance with the terms and conditions of the Covenant Agreement and any other
restrictive covenant agreement(s) applicable to you during the continued vesting period.
A Termination resulting from a Cigna divestiture, outsourcing or other business transaction where
you become employed by the buyer, vendor or other entity involved in the transaction will not
constitute an Involuntary Termination under this paragraph 3(c).
(d) If approved by (1) Cigna's Senior Human Resources Officer or his or her designee, or (2) the
Committee (with respect to the CEO or any Executive Officer) before your Termination, your
Option may continue to vest following your Termination if you (i) continue to provide services to
Cigna as a consultant or contractor, and (ii) continue to comply with the terms and conditions of
the Covenant Agreement and any other restrictive covenant agreement(s) applicable to you during
the continued vesting period.
The continued vesting period, if any, under this paragraph 3(d) shall be equal to the period of
your continued services to Cigna as a consultant or contractor.
(e) For avoidance of doubt, the continued vesting described in paragraphs 3(b), 3(c) and 3(d) above
is expressly subject to (and contingent upon) your ongoing compliance with the Covenant
Agreement and any other restrictive covenant agreement(s) applicable to you during the
continued vesting period. If a Violation (as defined below) occurs or is discovered following
your Termination, then, in addition to any other remedies available to Cigna under this Option
Grant Agreement or the Covenant Agreement, any then outstanding portion of this Option
(whether vested or unvested) shall be immediately and automatically cancelled and forfeited.
severance benefit plan or any contract, agreement or arrangement), the Option will expire at 5:00
p.m. Philadelphia time on:
(1) The earlier of the Expiration Date or the third anniversary of your Termination date; or
(2) The Expiration Date if, within six months before your Termination date, you were an
Executive Officer.
(d) If your Termination is an Involuntary Termination, the Option will expire on the earlier of (1) the
Expiration Date or (2) ninety (90) days after the first anniversary of your Termination date.
(e) If your Termination is Upon a Change of Control (of Cigna Corporation), the Option will expire
on the earlier of the Expiration Date or the third anniversary of your Termination date.
(f) The Option will expire immediately upon your Termination for Cause.
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6. Book-Entry Shares
Cigna (or a custodian appointed by Cigna) will hold any Shares you, your beneficiary or estate acquire
upon exercise of the Option in book-entry form in a Stock Account. That is, a record of Share ownership
will be kept electronically.
7. Conditions of Grant
(a) By accepting the grant, you are agreeing:
(1) to the Inventions provision in paragraph 7(b);
(2) to the restrictions contained in the attached Covenant Agreement and in paragraph 7(c)(2)
below (such restrictions collectively, the “Promises”);
(3) to notify Cigna if you accept an offer to perform services for any individual or entity
while you are subject to the non-competition Promise under the Covenant Agreement.
Such notice shall be provided by email to noncompete@express-scripts.com within 10
days of your acceptance of the offer and shall identify the individual or entity and your
anticipated start date;
(4) to disclose the terms of the Promises (including, without limitation, the Promises
related to non-solicitation and non-competition) and the consequences of a Violation (as
defined below) to any individual or entity for whom you perform services during the 12
month period immediately following your Termination; and
(5) not to engage in any activity that would constitute a Violation (as defined below).
You understand and agree that the conditions of the grant set forth in this paragraph 7(a) are a
material part of the inducement for Cigna's granting you the Option and essential pre-conditions
to your eligibility to exercise any rights associated with the Option and retain any benefit from
exercising the Option.
The award of Options pursuant to this Nonqualified Stock Option Grant is expressly conditioned
on your acceptance of the terms and conditions of this Option Grant and of the attached Covenant
Agreement. If you decide to accept this Nonqualified Stock Option Grant, you are accepting and
agreeing to all of the terms and conditions of this Option Grant and of the attached Covenant
Agreement, which include, among other things, restrictive covenants such as non-competition,
customer and employee non-solicitation and non-disclosure provisions and litigation cooperation
and intellectual property assignment and assistance provisions.
You should review the terms of this Option Grant and the Covenant Agreement carefully to
ensure that you understand what they say and what your responsibilities and obligations are
before you click on the accept button to acknowledge and agree to this Option Grant.
(b) Inventions
(1) You hereby assign and promise to assign to Cigna companies or their designee, all your
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right, title, and interest in and to any and all current and future Inventions. You acknowledge that
all original works of authorship which you make (whether alone or jointly with others) within the
scope of your Cigna company employment and which are protectable by copyright are “works
made for hire,” as defined in the United States Copyright Act.
(2) You agree to (i) maintain and make available adequate current records, including
electronic records, notes, sketches and drawings, of all Inventions you make, and (ii) disclose
such Inventions in writing upon request. These records will remain the property of Cigna
companies.
(3) If in the course of your Cigna company employment, you incorporate a Prior Invention
into any Cigna company work product, you grant Cigna companies a nonexclusive, royalty-free,
irrevocable, perpetual, worldwide license to use the Prior Invention as part of or in connection
with the work product. Within 45 days after the date of this grant, you agree to notify Cigna
Shareholder Services (shareholderservices@Cigna.com) of any Prior Inventions that you are not
assigning under this paragraph 7(b).
(4) “Inventions” means any and all inventions, original works of authorship, developments,
concepts, sales methods, improvements, trade secrets, or similar intellectual property, whether or
not patentable or registrable under copyright or similar laws, that relate to any Cigna company’s
current or proposed business, work products or research and development which you have or will
solely or jointly conceive, develop, reduce to practice, or fix during your Cigna company
employment.
(5) “Prior Inventions” means all inventions, original works of authorship, developments,
concepts, sales methods, improvements, trade secrets or similar intellectual property, whether or
not patentable or registrable under copyright or similar laws, that relate to any Cigna company’s
current or proposed business, work products or research and development which you conceived,
developed, reduced to practice or fixed before your Cigna company employment and which
belong to you.
(c) Violation
You will engage in a “Violation” if, directly or indirectly, you engage in any willful misconduct
as described in paragraph 7(c)(1) below or you break any of the Promises.
(1) Willful Misconduct:
(A) You have a Termination initiated by a Cigna company because you engaged in
conduct that constitutes a gross violation of Cigna's Code of Ethics and
Principles of Conduct or other employment policies.
(B) You do anything else while an employee of any Cigna company that is not
discovered by the company until after your Termination and that would, if you
had still been employed at the time of the discovery, be reason for your
Termination for willful misconduct, as described above.
(2) Promise to Assist with Patent and Copyright Registrations:
(A) You Promise that, during your Cigna company employment and after your
Termination, you will assist Cigna companies, should they request and at Cigna’s
expense, to secure their rights (including any copyrights, patents, trademarks or
other intellectual property rights) in or relating to the Inventions in any and all
countries, including by:
(i) disclosing to Cigna Companies all pertinent information and data; and
(ii) executing all applications, assignments or other instruments necessary to
apply for and obtain these rights and assign them to Cigna companies.
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(b) You must immediately make the Payment described in paragraph 8(c) to Cigna in the manner
described in paragraph 8(d) if:
(1) You engage in a Violation of the non-competition or non-solicitation restrictions of the
Covenant Agreement; or
(2) You engage in a Violation described in paragraph 7(c)(1) (willful misconduct) or any
other Violation (e.g. you disclose Cigna company Confidential Information in violation
of the Covenant Agreement) at any time.
(c) The Payment requirement applies only to the parts of the Option, if any, that you exercise during
the 24-month period prior to the date of your Termination and thereafter. “Payment” means the
amount equal to:
(1) the number of Shares you acquire when you exercise the Option;
multiplied by
(2) the excess of (A) the Fair Market Value on the date you exercise the Option over (B) the
Option Price;
plus
(3) the total amount of all dividends, if any, paid on those Shares through the date of the
Payment.
(d) Cigna will recover the Payment from you by any means permitted by applicable law, at the sole
discretion of Cigna management, including but not limited to any or all of the following methods:
(1) If you have any Shares in a Stock Account or in any other account in book-entry form
when a Violation occurs, Cigna will take back from you the whole number of Shares that
has a total Fair Market Value as of the date of the Violation up to, but not more than, the
Payment amount.
(2) Cigna will, to the extent permitted by applicable law, reduce:
(A) The amount of any payments that any Cigna company owes you for any reason
(including without limit any payments owed to you under any nonqualified
retirement, deferred compensation or other plan or arrangement) by
(B) The Payment amount.
This reduction will not occur until the date a future payment to you is due.
(3) Cigna will send you a written notice and demand for all or part of any Payment amount.
Within 30 days after you receive that notice and demand, you must make the Payment to
Cigna.
(e) (1) If you were an Executive Officer at any time during the 24-month period before the date
of a Violation of the Covenant Agreement, the Committee will have the sole discretion to
waive your obligation to make all or any part of the Payment (described in this paragraph
8) and to impose conditions on any waiver.
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(2) If you are in Career Band 6 or higher on your Termination date but not subject to
paragraph 8(e)(1) above, Cigna's Restrictive Covenant Review Committee will have the
sole discretion to waive your obligation to make all or any part of the Payment (described
in this paragraph 8) and to impose conditions on any waiver.
(3) Otherwise, Cigna's Senior Human Resources Officer, or his or her designee, will have the
sole discretion to waive your obligation to make all or any part of the Payment and to
impose conditions on any waiver.
(4) Determinations of the Committee, the Restrictive Covenant Review Committee, or
Cigna's Senior Human Resources Officer (or his or her designee), will be final and
binding on all parties.
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13. Acceptance
If you disagree with any of these Terms and Conditions, or the terms and conditions of the
Covenant Agreement, YOU MUST NOT ACCEPT THE OPTION GRANT. If you sign the Option
grant or the Covenant Agreement, or acknowledge your acceptance electronically or otherwise, you will
be:
(a) Agreeing to all the terms and conditions of the Option grant and of the Covenant Agreement,
including the Inventions provision in paragraph 7(b) and all of the Promises;
(b) Warranting and representing to Cigna that you are, and will remain, in full compliance with all
applicable terms and conditions;
(c) Authorizing Cigna to recover the Payment described in paragraph 8 and to seek any other
available remedy pursuant to the Covenant Agreement if you engage in a Violation; and
(d) Appointing Cigna as your agent and attorney-in-fact to secure rights with respect to Inventions if
unable to obtain your signature as described in paragraph 9.
M8N6TVL3
ACCEPTED
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Date Quantity
03/01/2023 3,045
03/01/2024 3,045
03/01/2025 3,046
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EXHIBIT D
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Cigna Corporation
Cigna Corporation (“Cigna”) has granted you the number of strategic performance shares set forth
below in this Strategic Performance Share Grant Agreement (“Strategic Performance Share Grant”
or “Grant”) under the Cigna Long-Term Incentive Plan (“Plan”). The date of your Strategic
Performance Share Grant (“Grant Date”) is also indicated below. The award is subject to the
provisions of the Plan and the Terms and Conditions below.
The award of Shares pursuant to this Strategic Performance Share Grant is expressly conditioned
on your acceptance of the terms and conditions of this Grant and of the attached Confidentiality,
Non-Competition and Non-Solicitation Agreement (or with respect to Cigna company employment
in California, the attached Confidentiality and Non-Solicitation Agreement) (as applicable, the
“Covenant Agreement”). You should carefully read all the terms and conditions of this Strategic
Performance Share Grant and the attached Covenant Agreement and be sure you understand what
they say and what your responsibilities and obligations are before you click on the ACCEPT
button to acknowledge and agree to this Grant.
If you are not willing to agree to all of the Grant and Covenant Agreement terms and conditions, do
not accept the Grant and do not click the ACCEPT button for the Strategic Performance Share
Grant Acknowledgment and Agreement. If you do not accept the Grant, you will not receive the
benefits of the Grant.
If you do click on the ACCEPT button, you are accepting and agreeing to all of the terms and
conditions of this Strategic Performance Share Grant and the Covenant Agreement, which include,
among other things, restrictive covenants such as non-competition, customer and employee non-
solicitation and non-disclosure provisions and litigation cooperation and intellectual property
assignment and assistance provisions.
Vesting Schedule
Shares Granted Approximate
Vest Date
100% of Shares Granted 03/01/2025
Please Note: The date shown in the Vesting Schedule chart above is not your actual vesting date.
It is an approximation of the expected vesting date and is provided due to systems requirements. In
accordance with the Terms and Conditions of your Strategic Performance Share Grant, the actual
vesting date will be determined by the People Resources Committee of the Board of Directors.
In addition to this Strategic Performance Share Grant and the attached Covenant Agreement, you
should also read the Plan Document and Key Contacts and Reference Materials document (attached
to the Plan) and indicate that you have done so and agree to the terms of all documents attached to
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this Grant by checking the appropriate box in the online grant acceptance process. The Key
Contacts and Reference Materials document contains information on how to get important award
information (such as the Plan Prospectus, Tax Considerations and Cigna's Securities Transactions
and Insider Trading Policy) and whom to contact if you have questions.
Please be aware that the Cigna Securities Transactions and Insider Trading Policy places
restrictions on your transactions in Cigna securities and requires certain Cigna employees to obtain
advance permission from the Corporate Secretary before executing transactions in Cigna securities.
If you have questions about your award, please contact Cigna Shareholder Services by email at
shareholderservices@cigna.com or by phone at 215.761.3516.
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Scroll down for the TERMS AND CONDITIONS of the Strategic Performance Share Grant.
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These Terms and Conditions are an important part of your grant of Strategic Performance Shares
from Cigna Corporation (Cigna). The terms of your Strategic Performance Share grant are in: (a)
the electronic Strategic Performance Share Grant Agreement above, (b) these Terms and
Conditions (including Schedule 1), (c) the Covenant Agreement, and (d) the Cigna Long-Term
Incentive Plan (Plan).
Certain words in this document with first letters capitalized are defined in the Strategic
Performance Share Grant Agreement above, these Terms and Conditions or Article 2 of the Plan.
This grant is void if you are not an employee of Cigna or a Subsidiary (a Cigna company) on the
Grant Date.
(b) Notwithstanding paragraph 4(a) and subject to paragraph 4(c) and paragraph 3, if your
Termination is before the Payment Date:
(1) Your Performance Shares will vest upon your Termination if it is a Termination
Upon a Change of Control. If your Performance Shares vest under this paragraph
4(b)(1), the Shares Earned Percentage shall be 100%.
(2) Your Performance Shares will vest upon your Termination if it is due to your death
or Disability. If your Performance Shares vest under this paragraph 4(b)(2), the
Shares Earned Percentage shall be 100%.
(3) Your Performance Shares may continue to vest following your Termination due to
your Early Retirement or Retirement if:
(i) The date of Termination due to your Early Retirement or Retirement is at
least six (6) months after the Grant Date, provided that this requirement
may be waived by (i) Cigna's Senior Human Resources Officer in certain
limited and unanticipated circumstances, or (ii) with respect to the CEO or
any executive officer who is subject to the requirements of Section 16(a)
of the Exchange Act (“Executive Officer”), the Committee;
(ii) You will not be receiving severance pay from any Cigna company
(whether under any severance benefit plan or any contract, agreement or
arrangement);
(iii) You continue to comply with the terms and conditions of the Covenant
Agreement and any other restrictive covenant agreement(s) applicable to
you during the continued vesting period; and
(iv) The Committee or its designee (including Cigna’s Senior Human
Resources Officer) approves the continued vesting before your
Termination.
If you want to be considered for continued vesting when you retire, you should review the
“Ready to Retire” page on Iris for more information or contact Cigna Shareholder Services
(shareholderservices@Cigna.com) if you have questions. You must submit your
consideration request far enough in advance of your retirement so there is time to process
your request.
If your Performance Shares continue to vest under this paragraph 4(b)(3), the Shares
Earned Percentage shall be determined by the Committee under paragraph 3(a) above and
then prorated based on the amount of time you were employed by a Cigna company during
the applicable Performance Period prior to your Early Retirement or Retirement date.
(4) Your Performance Shares will continue to vest following your Termination if your
Termination is an Involuntary Termination that occurs within twelve (12) months
of the Approximate Vest Date for the Performance Shares described in the
Strategic Performance Share Grant Agreement above. For example, if the date of
your Involuntary Termination is June 1, 2024 you will vest in any Performance
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The continued vesting described in this paragraph 4(b)(4) is subject to (and contingent
upon) your ongoing compliance with the terms and conditions of the Covenant Agreement
and any other restrictive covenant agreement(s) applicable to you during the continued
vesting period.
(5) If approved by (1) Cigna's Senior Human Resources Officer or his or her designee,
or (2) the Committee (with respect to the CEO or any Executive Officer) before
your Termination, your Shares may continue to vest following your Termination if
you (i) continue to provide services to Cigna as a consultant or contractor, and (ii)
continue to comply with the terms and conditions of the Covenant Agreement and
any other restrictive covenant agreement(s) applicable to you during the continued
vesting period.
If your Performance Shares continue to vest under this paragraph 4(b)(5), the Shares
Earned Percentage shall be determined by the Committee under paragraph 3(a) above.
The continued vesting period, if any, under this paragraph 4(b)(5) shall be equal to the
period of your continued services to Cigna as a consultant or contractor.
(6) For avoidance of doubt, the continued vesting described in paragraphs 4(b)(3),
4(b)(4) and 4(b)(5) above is expressly subject to (and contingent upon) your
ongoing compliance with the Covenant Agreement and any other restrictive
covenant agreement(s) applicable to you during the continued vesting period. If a
Violation (as defined below) occurs or is discovered following your Termination,
then, in addition to any other remedies available to Cigna under this Grant or the
Covenant Agreement, any then unvested Performance Shares shall be immediately
and automatically forfeited.
(c) You must comply in all respects with the terms and conditions of this Grant and the
Covenant Agreement.
5. Payment
(a) Except as provided in paragraph 5(b) and 5(c), below, your vested Shares Earned under
this grant will be paid in the year following the close of the Performance Period on the date
within such year specified by the Committee (Payment Date).
(b) Any Performance Shares that vest on account of your Termination due to death or
Disability will be paid during the 90 day period immediately following your Termination
due to death or Disability to you (or to your estate, in the case of death).
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(c) Any Performance Shares that vest on account of your Termination Upon a Change of
Control will be paid during the 30 day period immediately following your Termination
Upon a Change of Control.
(d) For each Share Earned that vests, Cigna will make payment by issuing one Share as of the
Payment Date. Until the Shares are issued to you, you will not be a Cigna shareholder, not
have the right to vote the Shares, and not receive actual dividends.
6. Taxes
Section 17.7 of the Plan shall apply to any tax withholding that may be required by law for
Performance Shares or Shares. Upon the vesting or payment of any Performance Share, Cigna
reserves the right to withhold enough newly-issued Shares to cover all or part of any applicable tax
withholding.
8. Conditions of Grant
(a) By accepting the grant, you are agreeing:
(1) to the Inventions provision in paragraph 8(b);
(2) to the restrictions contained in the attached Covenant Agreement and in paragraph
8(c)(2) below (such restrictions collectively, the “Promises”);
(3) to notify Cigna if you accept an offer to perform services for any individual or
entity while you are subject to the non-competition Promise under the Covenant
Agreement. Such notice shall be provided by email to noncompete@express-
scripts.com within 10 days of your acceptance of the offer and shall identify the
individual or entity and your anticipated start date;
(4) to disclose the terms of the Promises (including, without limitation, the Promises
related to non-solicitation and non-competition) and the consequences of a
Violation (as defined below) to any individual or entity for whom you perform
services during the 12 month period immediately following your Termination; and
(5) not to engage in any activity that would constitute a Violation (as defined below).
You understand and agree that the conditions of the grant set forth in this paragraph 8(a)
are a material part of the inducement for Cigna's granting you the Performance Shares and
essential pre-conditions to your eligibility to exercise any rights associated with the Grant
and retain any benefit from the vesting of the Performance Shares and issuance of the
Shares.
The award of Shares pursuant to this Strategic Performance Share Grant is expressly
conditioned on your acceptance of the terms and conditions of this Grant and of the
attached Covenant Agreement. If you decide to accept this Strategic Performance Share
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Grant, you are accepting and agreeing to all of the terms and conditions of this Grant and
of the attached Covenant Agreement, which include, among other things, restrictive
covenants such as non-competition, customer and employee non-solicitation and non-
disclosure provisions and litigation cooperation and intellectual property assignment and
assistance provisions.
You should review the terms of this Grant and the Covenant Agreement carefully to ensure
that you understand what they say and what your responsibilities and obligations are
before you click on the accept button to acknowledge and agree to this Grant.
(b) Inventions
(1) You hereby assign and promise to assign to Cigna companies or their designee, all
your right, title, and interest in and to any and all current and future Inventions.
You acknowledge that all original works of authorship which you make (whether
alone or jointly with others) within the scope of your Cigna company employment
and which are protectable by copyright are “works made for hire,” as defined in
the United States Copyright Act.
(2) You agree to (i) maintain and make available adequate current records, including
electronic records, notes, sketches and drawings, of all Inventions you make, and
(ii) disclose such Inventions in writing upon request. These records will remain the
property of Cigna companies.
(3) If in the course of your Cigna company employment, you incorporate a Prior
Invention into any Cigna company work product, you grant Cigna companies a
nonexclusive, royalty-free, irrevocable, perpetual, worldwide license to use the
Prior Invention as part of or in connection with the work product. Within 45 days
after the date of this grant, you agree to notify Cigna Shareholder Services
(shareholderservices@Cigna.com) of any Prior Inventions that you are not
assigning under this paragraph 8(b).
(4) “Inventions” means any and all inventions, original works of authorship,
developments, concepts, sales methods, improvements, trade secrets, or similar
intellectual property, whether or not patentable or registrable under copyright or
similar laws, that relate to any Cigna company’s current or proposed business,
work products or research and development which you have or will solely or
jointly conceive, develop, reduce to practice, or fix during your Cigna company
employment.
(5) “Prior Inventions” means all inventions, original works of authorship,
developments, concepts, sales methods, improvements, trade secrets or similar
intellectual property, whether or not patentable or registrable under copyright or
similar laws, that relate to any Cigna company’s current or proposed business,
work products or research and development which you conceived, developed,
reduced to practice or fixed before your Cigna company employment and which
belong to you.
(c) Violation
You will engage in a “Violation” if, directly or indirectly, you engage in any willful
misconduct as described in paragraph 8(c)(1) below or you break any of the “Promises”.
(1) Willful Misconduct:
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(d) Cigna will recover the Payment from you by any means permitted by applicable law, at the
sole discretion of Cigna management, including but not limited to any or all of the
following methods:
(1) If you have any Shares in a Stock Account or in any other account in book-entry
form when a Violation occurs, Cigna will take back from you the whole number of
Shares that has a total Fair Market Value as of the date of the Violation up to, but
not more than, the Payment amount.
(2) Cigna will, to the extent permitted by applicable law, reduce:
(A) The amount of any payments that any Cigna company owes you for any
reason (including without limit any payments owed to you under any
nonqualified retirement, deferred compensation or other plan or
arrangement) by
(B) The Payment amount.
This reduction will not occur until the date a future payment to you is due.
(3) Cigna will send you a written notice and demand for all or part of any Payment
amount. Within 30 days after you receive that notice and demand, you must make
the Payment to Cigna.
(e) (1) If you were an Executive Officer at any time during the 24-month period before
the date of a Violation of the Covenant Agreement, the Committee will have the
sole discretion to waive your obligation to make all or any part of the Payment
(described in this paragraph 9) and to impose conditions on any waiver.
(2) If you are in Career Band 6 or higher on your Termination date but not subject to
paragraph 9(e)(1) above, Cigna's Restrictive Covenant Review Committee will
have the sole discretion to waive your obligation to make all or any part of the
Payment (described in this paragraph 9) and to impose conditions on any waiver.
(3) Otherwise, Cigna's Senior Human Resources Officer, or his or her designee, will
have the sole discretion to waive your obligation to make all or any part of the
Payment and to impose conditions on any waiver.
(4) Determinations of the Committee, the Restrictive Covenant Review Committee, or
Cigna's Senior Human Resources Officer (or his or her designee), will be final and
binding on all parties.
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the market price of the Shares or to the time it may take to act on your request to sell the Shares.
By accepting this Strategic Performance Share grant:
(a) You acknowledge that the action you request may not be completed until several days after
you submit it.
(b) You agree to assume the risks, including the risk that the market price of the Shares may
change, related to delays described in paragraph 11(a) between the time you ask for any
Shares to be sold and the time your Shares are actually sold.
12. Applicable Law
You understand and agree that, except as otherwise provided in the Covenant Agreement, the terms
and conditions of this Strategic Performance Share Grant and all determinations made under the
Strategic Performance Share Grant Agreement, the Plan, and these Terms and Conditions will be
interpreted under the laws of the State of Delaware, without regard to its conflict of laws rule.
For the avoidance of doubt, the terms and conditions of the Covenant Agreement and all
determinations made under the Covenant Agreement will be interpreted under applicable state law
as set forth in the Covenant Agreement.
13. Arbitration
Except as otherwise provided in the Covenant Agreement, if you have an agreement with Cigna to
arbitrate employment-related disputes, you agree to resolve any disputes relating to this Strategic
Performance Share Grant through arbitration.
14. Acceptance
If you disagree with any of these Terms and Conditions, or the terms and conditions of the
Covenant Agreement, YOU MUST NOT ACCEPT THE STRATEGIC PERFORMANCE
SHARE GRANT. If you sign the Strategic Performance Share grant, or the Covenant Agreement,
or acknowledge your acceptance electronically or otherwise, you will be:
(a) Agreeing to all the terms and conditions of the Strategic Performance Share grant and of
the Covenant Agreement, including the Inventions provision in paragraph 8(b) and all of
the Promises;
(b) Warranting and representing to Cigna that you are, and will remain, in full compliance
with all applicable terms and conditions;
(c) Authorizing Cigna to recover the Payment described in paragraph 9 and to seek any other
available remedy pursuant to the Covenant Agreement, if you engage in a Violation; and
(d) Appointing Cigna as your agent and attorney-in-fact to secure rights with respect to
Inventions if unable to obtain your signature as described in paragraph 10.
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Schedule 1 to
Terms and Conditions of 2022 Grants
of Strategic Performance Shares
For Performance Period 2022-2024
“Shares Awarded” is the number of Performance Shares granted to an eligible employee for the
Performance Period. Shares Awarded are allocated at time of grant to the two weighted
performance measures (the “Performance Measure Components”) as follows: 50% to Total
Shareholder Return and 50% to Earnings Per Share Growth.
“Shares Earned” is determined after the end of the three-year Performance Period. Shares Earned
will range from 0% to 200% of the Shares Awarded, and the actual number of Shares Earned will
depend on the degree to which Cigna achieves the goals set at time of grant for each Performance
Measure Component, as described below under Compensation Determination, and the PRC’s
exercise of downward discretion, if applied.
Performance Measurement
The two Performance Measure Components for the 2022-2024 Performance Period are:
Cigna's Total Shareholder Return (TSR) relative to a peer group of industry competitors,
and
Earnings Per Share Growth for the ongoing businesses.
The formulas described below under Compensation Determination will be used to determine the
Shares Earned Percentage (called the Vesting Percentage in the Cigna Long-Term Incentive Plan).
The determination is made separately for each set of Shares Awarded that is allocated to a
Performance Measure Component. The formula for each Performance Measure Component
includes a minimum performance threshold, below which the Shares Earned Percentage for that
Performance Measure Component will be zero. In addition, the PRC has complete discretion to
apply its judgment to the results generated by the formula for the TSR Performance Measure
Component and make adjustments downward, as far down as 0%, in the Shares Earned Percentage.
For the Earnings Per Share component, the PRC will consider the CEO’s recommendation and
determine the Shares Earned percentage within the range of the applicable performance tier.
The PRC also has the right to adjust or change completely, in its sole discretion, the Performance
Measures and/or the formulas for calculating the Shares Earned percentages if Cigna or one of the
designated Peer Group companies is involved in any material merger, acquisition or divestiture
during the Performance Period.
For the Total Shareholder Return Component, the designated industry competitors (the Peer Group)
for the 2022-2024 Performance Period are the companies included in the S&P 500 Health Care
Providers Index as of the date of grant: AmerisourceBergen, Anthem, Cardinal Health, Centene,
CVS, Davita, HCA, Henry Schein, Humana, Lab Corp, McKesson, Quest Diagnostics,
UnitedHealth, and Universal Health Services. These companies were determined to be Cigna's
publicly-traded peers based upon business mix and other factors.
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Compensation Determination
The compensation to be paid for each SPS award (that is, the Shares Earned) is determined in a
three-step process.
In determining the Shares Earned Percentage for the Total Shareholder Return Component,
relative TSR is measured against five percentage ranges of Shares Earned, at each of the
25th, 50th, 75th and 85th relative percentile rankings, and then using straight line
interpolation based on Cigna's three-year TSR for the 2022-2024 Performance Period
within the relevant percentage range to determine Shares Earned for the TSR measure.
Cigna’s TSR performance relative to TSR performance of the Peer Group companies will
determine which percentage range will be used to calculate the Shares Earned percentage.
The three-year TSR is the compound annual growth rate in share price over three years,
with dividends treated as reinvested.
In determining the Shares Earned Percentage for the TSR Component, the matrix below
will be used. Any Peer Group company that is no longer a stand-alone company at the end
of the Performance Period will not be included in the calculation. As indicated in the
matrix, the relative TSR Target is the 50th percentile, and the Threshold relative TSR
(below which no value will be allocated to the TSR component) is the 25th percentile.
* The Shares Earned percentage within a defined relative TSR percentage range of achievement is
determined using straight line interpolation based on Cigna's actual TSR performance; however,
there are no Shares Earned for performance below the 25th percentile.
In determining the Shares Earned Percentage for the Earnings Per Share Growth
Component, the following matrix will be used. Management will make a recommendation
to the PRC regarding the Shares Earned within the range. It is important to note that the
maximum Shares Earned for each performance level is the top end of the range, but the
PRC has downward discretion in each level to adjust the component value down to the
lowest percentage of the range.
The number of Shares Awarded to an award recipient for the Performance Period that was
allocated to each Performance Measure Component is multiplied by the approved Shares
Earned Percentage for that Component as follows:
The number of Shares Earned for each Performance Measure Component are added together to
determine total number of Shares Earned by the award recipient for the Performance Period. There
will not be any fractional Shares Earned; the number of Shares Earned will be rounded following
normal rounding rules. The total number of Shares Earned cannot exceed 200% of the Shares
Awarded.
M8N6U300
ACCEPTED
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EXHIBIT E
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Cigna Corporation
Cigna Corporation (“Cigna”) has granted you the number of shares of restricted stock of Cigna set
forth below in this Restricted Stock Grant Agreement (“Restricted Stock Grant” or “Grant”) under
the Cigna Long-Term Incentive Plan (“Plan”). The date of your Restricted Stock Grant (“Grant
Date”) and the dates on which your Grant is scheduled to vest (“Vesting Dates”) are also indicated
below. The award is subject to the provisions of the Plan and the Terms and Conditions below.
The award of Shares pursuant to this Restricted Stock Grant is expressly conditioned on your
acceptance of the terms and conditions of this Grant and of the attached Confidentiality, Non-
Competition and Non-Solicitation Agreement (or, with respect to Cigna company employment in
California, the attached Confidentiality and Non-Solicitation Agreement) (as applicable, the
“Covenant Agreement”). You should carefully read all the terms and conditions of this Restricted
Stock Grant and the attached Covenant Agreement and be sure you understand what they say and
what your responsibilities and obligations are before you click on the ACCEPT button to
acknowledge and agree to this Grant.
If you are not willing to agree to all of the Grant and Covenant Agreement terms and conditions, do
not accept the Grant and do not click the ACCEPT button for the Restricted Stock Grant
Acknowledgment and Agreement. If you do not accept the Grant, you will not receive the benefits
of the Grant.
If you do click on the ACCEPT button, you are accepting and agreeing to all of the terms and
conditions of this Restricted Stock Grant and the Covenant Agreement, which include, among other
things, restrictive covenants such as non-competition, customer and employee non-solicitation and
non-disclosure provisions and litigation cooperation and intellectual property assignment and
assistance provisions.
Vesting Schedule: Please refer to Appendix: Vesting Schedule on the last page
of this document
In addition to this Restricted Stock Grant and the attached Covenant Agreement, you should also
read the Plan Document and Key Contacts and Reference Materials document (attached to the
Plan) and indicate that you have done so and agree to the terms of all documents attached to this
Grant by checking the appropriate box in the online grant acceptance process. The Key Contacts
and Reference Materials document contains information on how to get important stock award
information (such as the Plan Prospectus, Tax Considerations and Cigna's Securities Transactions
and Insider Trading Policy) and whom to contact if you have questions.
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Please be aware that the Cigna Securities Transactions and Insider Trading Policy places
restrictions on your transactions in Cigna securities and requires certain Cigna employees to obtain
advance permission from the Corporate Secretary before executing transactions in Cigna securities.
If you have questions about your award, please contact Cigna Shareholder Services by email at
shareholderservices@cigna.com or by phone at 215.761.3516.
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Important Notice: Restricted Stock Grant and Covenant Agreement Acknowledgment and
Agreement
Scroll down for the TERMS AND CONDITIONS of the Restricted Stock Grant.
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These Terms and Conditions are an important part of your grant of Restricted Stock from Cigna
Corporation (Cigna). The terms of your Restricted Stock grant are in: (a) the electronic Restricted
Stock Grant Agreement above, (b) these Terms and Conditions, (c) the Covenant Agreement and
(d) the applicable Plan provisions.
Certain words in this document with first letters capitalized are defined in the Restricted Stock
Grant Agreement above, these Terms and Conditions or Article 2 of the Plan. This grant is void if
you are not an employee of Cigna or a Subsidiary (a Cigna company) on the Grant Date.
Unless otherwise determined by the Committee or its designee, your Shares will vest on the
applicable Vesting Date if you are on a leave of absence on such date.
In certain situations your vesting date may be earlier than the Vesting Dates described in the
Appendix or your Shares will continue to vest after your Termination date:
(a) The Shares will vest upon your Termination if it is a Termination Upon a Change of
Control or is due to your death or Disability. Whether there is a Termination Upon a
Change of Control for purposes of this Restricted Stock grant is determined by reference to
a Change of Control (as defined in the Plan) of the entity issuing this grant (Cigna
Corporation) and not by reference to a Change of Control of any predecessor entity of
Cigna Corporation.
(b) The Shares may continue to vest following your Termination if:
(1) It is due to your Early Retirement or Retirement;
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(2) The date of Termination due to your Early Retirement or Retirement is at least six
(6) months after the Grant Date, provided that this requirement may be waived by
(i) Cigna's Senior Human Resources Officer in certain limited and unanticipated
circumstances, or (ii) with respect to the CEO or any executive officer who is
subject to the requirements of Section 16(a) of the Exchange Act (“Executive
Officer”), the Committee;
(3) You will not be receiving severance pay from any Cigna company (whether under
any severance benefit plan or any contract, agreement or arrangement);
(4) You continue to comply with the terms and conditions of the Covenant Agreement
and any other restrictive covenant agreement(s) applicable to you during the
continued vesting period; and
(5) The Committee or its designee (including Cigna’s Senior Human Resources
Officer) approves the continued vesting before your Termination.
If you want to be considered for continued vesting when you retire, you must ask your
manager or human resources representative far enough in advance of your retirement so
there is time to process your request.
(c) If your Termination is an Involuntary Termination, you will continue to vest in the Shares
for a period of twelve (12) months following the date of your Involuntary Termination as if
you had remained employed for such twelve (12) month period. For example, if the date
of your Involuntary Termination is June 1, 2021 you will vest in any Shares scheduled to
vest on or before June 1, 2022 on the otherwise scheduled Vesting Date.
The continued vesting described in this paragraph 3(c) is subject to (and contingent upon)
your ongoing compliance with the terms and conditions of the Covenant Agreement and
any other restrictive covenant agreement(s) applicable to you during the continued vesting
period.
(d) Except with respect to the CEO or any Executive Officer, if approved by Cigna's Senior
Human Resources Officer, or his or her designee, before your Termination, your Shares
may continue to vest following your Termination if you (1) continue to provide services to
Cigna as a consultant or contractor under the terms of an agreement and release between
you and Cigna, and (2) continue to comply with the terms and conditions of the Covenant
Agreement and any other restrictive covenant agreement(s) applicable to you during the
continued vesting period.
The continued vesting period, if any, under this paragraph 3(d) shall be equal to the period
of your continued services to Cigna as a consultant or contractor under the terms of an
agreement and release.
(e) For avoidance of doubt, the continued vesting described in paragraphs 3(b), 3(c) and 3(d)
above is expressly subject to (and contingent upon) your ongoing compliance with the
Covenant Agreement and any other restrictive covenant agreement(s) applicable to you
during the continued vesting period. If a Violation (as defined below) occurs or is
discovered following your Termination, then, in addition to any other remedies available to
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Cigna under this Restricted Stock Grant or the Covenant Agreement, any then unvested
Shares shall be immediately and automatically forfeited.
4. Voting Rights; Dividends
(a) You have the right to vote the Shares. If you forfeit a Share, you will also forfeit the right
to vote the Share.
(b) You have the right to receive dividends on the Shares. Dividends paid on the Shares
during the Restricted Period will be held by Cigna. Subject to the forfeiture provisions of
paragraph 4(c), your right to receive accumulated dividends on a Share will vest on the
scheduled Vesting Date for the Share described in the Appendix (Scheduled Vesting Date).
Once a Share vests, your right to future dividends on the Share, and the method of
payment, will be the same as for any other Cigna shareholder.
(c) If you forfeit a Share, you will also forfeit the right to any accumulated and future
dividends related to the Share. Even if you do not forfeit a Share, you will forfeit the right
to any accumulated dividends on the Share if you have a Termination before the Scheduled
Vesting Date for a Share (even if the Share vests under paragraph 3).
(d) Vested accumulated dividends, less applicable taxes withheld, will be paid to you in a
lump sum within 70 days after the Scheduled Vesting Date. Cigna will not pay any interest
on the accumulated dividends.
5. Taxes at Vesting
When the Shares vest, you must satisfy any required tax withholding obligation. Cigna reserves
the right to withhold enough newly-vested Shares to cover all or part of any applicable tax
withholding. However, if section 83(b) of the U.S. Internal Revenue Code of 1986, as amended,
applies to you and you make a timely election under that provision, you must make an immediate
cash payment to satisfy any required tax withholding obligation.
7. Conditions of Grant
(a) By accepting the grant, you are agreeing:
(1) to the Inventions provision in paragraph 7(b);
(2) to the restrictions contained in the attached Covenant Agreement and in paragraph
7(c)(2) below (such restrictions collectively, the “Promises”);
(3) to notify Cigna if you accept an offer to perform services for any individual or
entity while you are subject to the non-competition Promise under the Covenant
Agreement. Such notice shall be provided by email to noncompete@express-
scripts.com within 10 days of your acceptance of the offer and shall identify the
individual or entity and your anticipated start date;
(4) to disclose the terms of the Promises (including, without limitation, the Promises
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You understand and agree that the conditions of the grant set forth in this paragraph 7(a)
are a material part of the inducement for Cigna's granting you the Shares and essential pre-
conditions to your eligibility to exercise any rights associated with the Shares and retain
any benefit from the vesting of the Shares.
The award of Shares pursuant to this Restricted Stock Grant is expressly conditioned on
your acceptance of the terms and conditions of this Grant and of the attached Covenant
Agreement. If you decide to accept this Restricted Stock Grant, you are accepting and
agreeing to all of the terms and conditions of this Grant and of the attached Covenant
Agreement, which include, among other things, restrictive covenants such as non-
competition, customer and employee non-solicitation and non-disclosure provisions and
litigation cooperation and intellectual property assignment and assistance provisions.
You should review the terms of this Grant and the Covenant Agreement carefully to ensure
that you understand what they say and what your responsibilities and obligations are
before you click on the accept button to acknowledge and agree to this Grant.
(b) Inventions
(1) You hereby assign and promise to assign to Cigna companies or their designee, all
your right, title, and interest in and to any and all current and future Inventions. You
acknowledge that all original works of authorship which you make (whether alone or
jointly with others) within the scope of your Cigna company employment and which are
protectable by copyright are “works made for hire,” as defined in the United States
Copyright Act.
(2) You agree to (i) maintain and make available adequate current records, including
electronic records, notes, sketches and drawings, of all Inventions you make, and (ii)
disclose such Inventions in writing upon request. These records will remain the property of
Cigna companies.
(3) If in the course of your Cigna company employment, you incorporate a Prior
Invention into any Cigna company work product, you grant Cigna companies a
nonexclusive, royalty-free, irrevocable, perpetual, worldwide license to use the Prior
Invention as part of or in connection with the work product. Within 45 days after the date
of this grant, you agree to notify Cigna Shareholder Services
(shareholderservices@Cigna.com) of any Prior Inventions that you are not assigning under
this paragraph 7(b).
(4) “Inventions” means any and all inventions, original works of authorship,
developments, concepts, sales methods, improvements, trade secrets, or similar intellectual
property, whether or not patentable or registrable under copyright or similar laws, that
relate to any Cigna company’s current or proposed business, work products or research and
development which you have or will solely or jointly conceive, develop, reduce to practice,
or fix during your Cigna company employment.
(5) “Prior Inventions” means all inventions, original works of authorship,
developments, concepts, sales methods, improvements, trade secrets or similar intellectual
property, whether or not patentable or registrable under copyright or similar laws, that
relate to any Cigna company’s current or proposed business, work products or research and
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development which you conceived, developed, reduced to practice or fixed before your
Cigna company employment and which belong to you.
(c) Violation
You will engage in a “Violation” if, directly or indirectly, you engage in any willful
misconduct as described in paragraph 7(c)(1) below, or you break any of the Promises.
(1) Willful Misconduct:
(A) You have a Termination initiated by a Cigna company because you
engaged in conduct that constitutes a gross violation of Cigna's Code of
Ethics and Principles of Conduct or other employment policies.
(B) You do anything else while an employee of any Cigna company that is not
discovered by the company until after your Termination and that would, if
you had still been employed at the time of the discovery, be reason for
your Termination for willful misconduct, as described above.
(2) Promise to Assist with Patent and Copyright Registrations:
(A) You Promise that, during your Cigna company employment and after your
Termination, you will assist Cigna companies, should they request and at
Cigna's expense, to secure their rights (including any copyrights, patents,
trademarks or other intellectual property rights) in or relating to the
Inventions in any and all countries, including by:
(i) disclosing to Cigna companies all pertinent information and data;
and
(ii) executing all applications, assignments or other instruments
necessary to apply for and obtain these rights and assign them to
Cigna companies.
(d) (1) If you were an Executive Officer at any time during the 24-month period before
the date of a Violation of the Covenant Agreement, the Committee will have the
sole discretion to waive your obligation to make all or any part of the Payment
(described in paragraph 8) and to impose conditions on any waiver.
(2) If you are in Career Band 6 or higher on your Termination date but not subject to
paragraph 7(d)(1) above, Cigna's Restrictive Covenant Review Committee will
have the sole discretion to waive your obligation to make all or any part of the
Payment (described in paragraph 8) and to impose conditions on any waiver.
(3) Otherwise, Cigna's Senior Human Resources Officer, or his or her designee, will
have the sole discretion to waive your obligation to make all or any part of the
Payment and to impose conditions on any waiver.
(4) Determinations of the Committee, the Restrictive Covenant Review Committee, or
Cigna's Senior Human Resources Officer (or his or her designee), will be final and
binding on all parties.
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(a) If Cigna Companies are unable to obtain your signature on any instruments needed to
secure their rights in or relating to the Inventions pursuant to paragraph 7(c)(2)(A); then
(b) You hereby appoint Cigna companies and their duly authorized officers as your agents and
attorneys in fact to act for and on your behalf to execute and file any documents and take
other actions as may be necessary for Cigna companies to secure those rights.
10. Agreeing to Assume Risks
Cigna, its stock plan administrator and its transfer agent will try to process your stock transaction
requests in a timely manner; however, Cigna makes no promises or guarantees to you relating to
the market price of the Shares or to the time it may take to act on your request to sell the Shares.
By accepting this Restricted Stock grant:
(a) You acknowledge that the action you request may not be completed until several days after
you submit it.
(b) You agree to assume the risks, including the risk that the market price of the Shares may
change, related to delays described in paragraph 10(a) between the time you ask for any
Shares to be sold and the time your Shares are actually sold.
11. Applicable Law
You understand and agree that, except as otherwise provided in the Covenant Agreement, the terms
and conditions of this Restricted Stock Grant and all determinations made under the Restricted
Stock Grant Agreement, the Plan, and these Terms and Conditions will be interpreted under the
laws of the State of Delaware, without regard to its conflict of laws rule.
For the avoidance of doubt, the terms and conditions of the Covenant Agreement and all
determinations made under the Covenant Agreement will be interpreted under applicable state law
as set forth in the Covenant Agreement.
12. Arbitration
Except as otherwise provided in the Covenant Agreement, if you have an agreement with Cigna to
arbitrate employment-related disputes, you agree to resolve any disputes relating to this Restricted
Stock Grant through arbitration.
13. Acceptance
If you disagree with any of these Terms and Conditions or the terms and conditions of the
Covenant Agreement, YOU MUST NOT ACCEPT THE RESTRICTED STOCK GRANT. If
you sign the Restricted Stock Grant or the Covenant Agreement, or acknowledge your acceptance
electronically or otherwise, you will be:
(a) Agreeing to all the terms and conditions of the Restricted Stock Grant and of the Covenant
Agreement, including the Inventions provision in paragraph 7(b) and all of the Promises;
(b) Warranting and representing to Cigna that you are, and will remain, in full compliance
with all applicable terms and conditions;
(c) Authorizing Cigna to recover the Payment described in paragraph 8 and to seek any other
available remedy pursuant to the Covenant Agreement, if you engage in a Violation; and
(d) Appointing Cigna as your agent and attorney-in-fact to secure rights with respect to
Inventions if unable to obtain your signature as described in paragraph 9.
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L8T4UL8W
ACCEPTED
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Date Quantity
03/01/2022 701
03/01/2023 702
03/01/2024 702
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EXHIBIT F
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Cigna Corporation
Cigna Corporation (“Cigna”) has granted you the option to purchase the number of shares of Cigna
Common Stock set forth below in this Option Grant Agreement (“Option Grant”) under the Cigna Long-
Term Incentive Plan (“Plan”). The date of your Option Grant (“Grant Date”), the dates on which your
Option Grant is scheduled to vest (“Vesting Dates”) and the date on which it is scheduled to expire
(“Expiration Date”) are also indicated below. The award is subject to the provisions of the Plan and the
Terms and Conditions below.
The award of Options pursuant to this Nonqualified Stock Option Grant is expressly conditioned on your
acceptance of the terms and conditions of this Option Grant and of the attached Confidentiality, Non-
Competition and Non-Solicitation Agreement (or, with respect to Cigna company employment in
California, the attached Confidentiality and Non-Solicitation Agreement) (as applicable, the “Covenant
Agreement”). You should carefully read all the terms and conditions of this Option Grant and the
attached Covenant Agreement and be sure you understand what they say and what your responsibilities
and obligations are before you click on the ACCEPT button to acknowledge and agree to this Option
Grant.
If you are not willing to agree to all of the Option Grant and Covenant Agreement terms and conditions,
do not accept the Option Grant and do not click the ACCEPT button for the Option Grant
Acknowledgment and Agreement. If you do not accept the Option Grant, you will not receive the
benefits of the Option Grant.
If you do click on the ACCEPT button, you are accepting and agreeing to all of the terms and
conditions of this Option Grant and the Covenant Agreement, which include, among other things,
restrictive covenants such as non-competition, customer and employee non-solicitation and non-
disclosure provisions and litigation cooperation and intellectual property assignment and assistance
provisions.
Vesting Schedule: Please refer to Appendix: Vesting Schedule on the last page of this
document
In addition to this Nonqualified Stock Option Grant and the attached Covenant Agreement, you should
also read the Plan Document and Key Contacts and Reference Materials document (attached to the Plan)
and indicate that you have done so and agree to the terms of all documents attached to this Option Grant
by checking the appropriate box in the online grant acceptance process. The Key Contacts and Reference
Materials document contains information on how to get important stock award information (such as the
Plan Prospectus, Tax Considerations and Cigna's Securities Transactions and Insider Trading Policy) and
whom to contact if you have questions.
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Please be aware that the Cigna Securities Transactions and Insider Trading Policy places restrictions on
your transactions in Cigna securities and requires certain Cigna employees to obtain advance permission
from the Corporate Secretary before executing transactions in Cigna securities.
If you have questions about your award, please contact Cigna Shareholder Services by email at
shareholderservices@cigna.com or by phone at 215.761.3516.
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Important Notice: Option Grant and Covenant Agreement Acknowledgment and Agreement
Scroll down for the TERMS AND CONDITIONS of the Option Grant.
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These Terms and Conditions are an important part of your grant of a nonqualified stock option (Option)
from Cigna Corporation (Cigna). The terms of your Option are in (a) the electronic Option Grant
Agreement above, (b) these Terms and Conditions, (c) the Covenant Agreement, and (d) the applicable
Plan provisions.
Certain words in this document with first letters capitalized are defined in the Option Grant Agreement
above, these Terms and Conditions or Article 2 of the Plan. This grant is void if you are not an employee
of Cigna or a Subsidiary (a Cigna company) on the Grant Date.
1. The Option
The Option gives you the right to buy a certain number of shares of Cigna Common Stock (Shares)
during the Option Period (described in paragraph 2) at the Option Price. Your Option Grant Agreement
lists the number of Shares and your Option Price. To buy the Shares at the Option Price, you must
exercise the Option.
(1) The date of Termination due to your Early Retirement or Retirement is at least six (6)
months after the Grant Date, provided that this requirement may be waived by (i) Cigna's
Senior Human Resources Officer in certain limited and unanticipated circumstances, or
(ii) with respect to the CEO or any executive officer who is subject to the requirements of
Section 16(a) of the Exchange Act (“Executive Officer”), the Committee;
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(2) You will not be receiving severance pay from any Cigna company (whether under any
severance benefit plan or any contract, agreement or arrangement);
(3) You continue to comply with the terms and conditions of the Covenant Agreement and
any other restrictive covenant agreement(s) applicable to you during the continued
vesting period; and
(4) The Committee or its designee (including Cigna’s Senior Human Resources Officer)
approves the continued vesting before your Termination.
If you want to be considered for continued vesting when you retire, you must ask your manager
or human resources representative far enough in advance of your retirement so there is time to
process your request.
A Termination resulting from a Cigna divestiture, outsourcing or other business transaction where
you become employed by the buyer, vendor or other entity involved in the transaction will not
constitute a Retirement or Early Retirement under this paragraph 3(b).
(c) The Option will continue to vest for a period of twelve (12) months following the date of your
Involuntary Termination as if you had remained employed for such twelve (12) month period.
For example, if the date of your Involuntary Termination is June 1, 2021 you will vest in any
portion of the Option scheduled to vest on or before June 1, 2022 on the otherwise scheduled
Vesting Date.
The continued vesting described in this paragraph 3(c) is subject to (and contingent upon) your
ongoing compliance with the terms and conditions of the Covenant Agreement and any other
restrictive covenant agreement(s) applicable to you during the continued vesting period.
(d) Except with respect to the CEO or any Executive Officer, if approved by Cigna's Senior Human
Resources Officer, or his or her designee, before your Termination, your Option may continue to
vest following your Termination if you (1) continue to provide services to Cigna as a consultant
or contractor under the terms of an agreement and release between you and Cigna, and (2)
continue to comply with the terms and conditions of the Covenant Agreement and any other
restrictive covenant agreement(s) applicable to you during the continued vesting period.
The continued vesting period, if any, under this paragraph 3(d) shall be equal to the period of
your continued services to Cigna as a consultant or contractor under the terms of an agreement
and release.
(e) For avoidance of doubt, the continued vesting described in paragraphs 3(b), 3(c) and 3(d) above
is expressly subject to (and contingent upon) your ongoing compliance with the Covenant
Agreement and any other restrictive covenant agreement(s) applicable to you during the
continued vesting period. If a Violation (as defined below) occurs or is discovered following
your Termination, then, in addition to any other remedies available to Cigna under this Option
Grant Agreement or the Covenant Agreement, any then outstanding portion of this Option
(whether vested or unvested) shall be immediately and automatically cancelled and forfeited.
(c) If your Termination is because of your Early Retirement, and you will not be receiving severance
pay from any Cigna company (whether under any severance benefit plan or any contract,
agreement or arrangement), the Option will expire at 5:00 p.m. Philadelphia time on:
(1) The earlier of the Expiration Date or the third anniversary of your Termination date; or
(2) The Expiration Date if, within six months before your Termination date, you were an
Executive Officer.
(d) If your Termination is an Involuntary Termination, the Option will expire on the earlier of (1) the
Expiration Date or (2) ninety (90) days after the first anniversary of your Termination date.
(e) If your Termination is Upon a Change of Control (of Cigna Corporation), the Option will expire
on the earlier of the Expiration Date or the third anniversary of your Termination date.
(f) The Option will expire immediately upon your Termination for Cause.
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If there are not at least 50 Shares underlying the Option, you must exercise the Option for
all the Shares.
(2) You must pay any applicable tax-withholding obligation.
Cigna reserves the right to withhold from the Shares you purchase enough Shares to meet
all or part of any applicable tax-withholding obligation.
If you are an Executive Officer when you exercise the Option, you may satisfy part of the
withholding obligation by remitting to Cigna Shares you have owned for at least six
months as of the date the withholding obligation arises.
(g) You may pay the Option Price through a cashless exercise of the Option. Cigna reserves the right
to change the rules that apply to cashless exercises, or end your ability to do a cashless exercise,
at any time.
6. Book-Entry Shares
Cigna (or a custodian appointed by Cigna) will hold any Shares you, your beneficiary or estate acquire
upon exercise of the Option in book-entry form in a Stock Account. That is, a record of Share ownership
will be kept electronically.
7. Conditions of Grant
(a) By accepting the grant, you are agreeing:
(1) to the Inventions provision in paragraph 7(b);
(2) to the restrictions contained in the attached Covenant Agreement and in paragraph 7(c)(2)
below (such restrictions collectively, the “Promises”);
(3) to notify Cigna if you accept an offer to perform services for any individual or entity
while you are subject to the non-competition Promise under the Covenant Agreement.
Such notice shall be provided by email to noncompete@express-scripts.com within 10
days of your acceptance of the offer and shall identify the individual or entity and your
anticipated start date;
(4) to disclose the terms of the Promises (including, without limitation, the Promises
related to non-solicitation and non-competition) and the consequences of a Violation (as
defined below) to any individual or entity for whom you perform services during the 12
month period immediately following your Termination; and
(5) not to engage in any activity that would constitute a Violation (as defined below).
You understand and agree that the conditions of the grant set forth in this paragraph 7(a) are a
material part of the inducement for Cigna's granting you the Option and essential pre-conditions
to your eligibility to exercise any rights associated with the Option and retain any benefit from
exercising the Option.
The award of Options pursuant to this Nonqualified Stock Option Grant is expressly conditioned
on your acceptance of the terms and conditions of this Option Grant and of the attached Covenant
Agreement. If you decide to accept this Nonqualified Stock Option Grant, you are accepting and
agreeing to all of the terms and conditions of this Option Grant and of the attached Covenant
Agreement, which include, among other things, restrictive covenants such as non-competition,
customer and employee non-solicitation and non-disclosure provisions and litigation cooperation
and intellectual property assignment and assistance provisions.
You should review the terms of this Option Grant and the Covenant Agreement carefully to
ensure that you understand what they say and what your responsibilities and obligations are
before you click on the accept button to acknowledge and agree to this Option Grant.
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(b) Inventions
(1) You hereby assign and promise to assign to Cigna companies or their designee, all your
right, title, and interest in and to any and all current and future Inventions. You acknowledge that
all original works of authorship which you make (whether alone or jointly with others) within the
scope of your Cigna company employment and which are protectable by copyright are “works
made for hire,” as defined in the United States Copyright Act.
(2) You agree to (i) maintain and make available adequate current records, including
electronic records, notes, sketches and drawings, of all Inventions you make, and (ii) disclose
such Inventions in writing upon request. These records will remain the property of Cigna
companies.
(3) If in the course of your Cigna company employment, you incorporate a Prior Invention
into any Cigna company work product, you grant Cigna companies a nonexclusive, royalty-free,
irrevocable, perpetual, worldwide license to use the Prior Invention as part of or in connection
with the work product. Within 45 days after the date of this grant, you agree to notify Cigna
Shareholder Services (shareholderservices@Cigna.com) of any Prior Inventions that you are not
assigning under this paragraph 7(b).
(4) “Inventions” means any and all inventions, original works of authorship, developments,
concepts, sales methods, improvements, trade secrets, or similar intellectual property, whether or
not patentable or registrable under copyright or similar laws, that relate to any Cigna company’s
current or proposed business, work products or research and development which you have or will
solely or jointly conceive, develop, reduce to practice, or fix during your Cigna company
employment.
(5) “Prior Inventions” means all inventions, original works of authorship, developments,
concepts, sales methods, improvements, trade secrets or similar intellectual property, whether or
not patentable or registrable under copyright or similar laws, that relate to any Cigna company’s
current or proposed business, work products or research and development which you conceived,
developed, reduced to practice or fixed before your Cigna company employment and which
belong to you.
(c) Violation
You will engage in a “Violation” if, directly or indirectly, you engage in any willful misconduct
as described in paragraph 7(c)(1) below or you break any of the Promises.
(1) Willful Misconduct:
(A) You have a Termination initiated by a Cigna company because you engaged in
conduct that constitutes a gross violation of Cigna's Code of Ethics and
Principles of Conduct or other employment policies.
(B) You do anything else while an employee of any Cigna company that is not
discovered by the company until after your Termination and that would, if you
had still been employed at the time of the discovery, be reason for your
Termination for willful misconduct, as described above.
(2) Promise to Assist with Patent and Copyright Registrations:
(A) You Promise that, during your Cigna company employment and after your
Termination, you will assist Cigna companies, should they request and at Cigna’s
expense, to secure their rights (including any copyrights, patents, trademarks or
other intellectual property rights) in or relating to the Inventions in any and all
countries, including by:
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(i) disclosing to Cigna Companies all pertinent information and data; and
(ii) executing all applications, assignments or other instruments necessary to
apply for and obtain these rights and assign them to Cigna companies.
(d) (1) If you were an Executive Officer at any time during the 24-month period before the date
of a Violation of the Covenant Agreement, the Committee will have the sole discretion to
waive your obligation to make all or any part of the Payment (described in paragraph 8)
and to impose conditions on any waiver.
(2) If you are in Career Band 6 or higher on your Termination date but not subject to
paragraph 7(d)(1) above, Cigna's Restrictive Covenant Review Committee will have the
sole discretion to waive your obligation to make all or any part of the Payment (described
in paragraph 8) and to impose conditions on any waiver.
(3) Otherwise, Cigna's Senior Human Resources Officer, or his or her designee, will have the
sole discretion to waive your obligation to make all or any part of the Payment and to
impose conditions on any waiver.
(4) Determinations of the Committee, the Restrictive Covenant Review Committee, or
Cigna's Senior Human Resources Officer (or his or her designee), will be final and
binding on all parties.
(b) You must immediately make the Payment described in paragraph 8(c) to Cigna in the manner
described in paragraph 8(d) if:
(1) You engage in a Violation of the non-competition or non-solicitation restrictions of the
Covenant Agreement; or
(2) You engage in a Violation described in paragraph 7(c)(1) (willful misconduct) or any
other Violation (e.g. you disclose Cigna company Confidential Information in violation
of the Covenant Agreement) at any time.
(c) The Payment requirement applies only to the parts of the Option, if any, that you exercise during
the 24-month period prior to the date of your Termination and thereafter. “Payment” means the
amount equal to:
(1) the number of Shares you acquire when you exercise the Option;
multiplied by
(2) the excess of (A) the Fair Market Value on the date you exercise the Option over (B) the
Option Price;
plus
(3) the total amount of all dividends, if any, paid on those Shares through the date of the
Payment.
(d) Cigna will recover the Payment from you by any means permitted by applicable law, at the sole
discretion of Cigna management, including but not limited to any or all of the following methods:
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(1) If you have any Shares in a Stock Account or in any other account in book-entry form
when a Violation occurs, Cigna will take back from you the whole number of Shares that
has a total Fair Market Value as of the date of the Violation up to, but not more than, the
Payment amount.
(2) Cigna will, to the extent permitted by applicable law, reduce:
(A) The amount of any payments that any Cigna company owes you for any reason
(including without limit any payments owed to you under any nonqualified
retirement, deferred compensation or other plan or arrangement) by
(B) The Payment amount.
This reduction will not occur until the date a future payment to you is due.
(3) Cigna will send you a written notice and demand for all or part of any Payment amount.
Within 30 days after you receive that notice and demand, you must make the Payment to
Cigna.
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12. Arbitration
Except as otherwise provided in the Covenant Agreement, if you have an agreement with Cigna to
arbitrate employment related disputes, you agree to resolve any disputes relating to this Nonqualified
Stock Option Grant through arbitration.
13. Acceptance
If you disagree with any of these Terms and Conditions, or the terms and conditions of the
Covenant Agreement, YOU MUST NOT ACCEPT THE OPTION GRANT. If you sign the Option
grant or the Covenant Agreement, or acknowledge your acceptance electronically or otherwise, you will
be:
(a) Agreeing to all the terms and conditions of the Option grant and of the Covenant Agreement,
including the Inventions provision in paragraph 7(b) and all of the Promises;
(b) Warranting and representing to Cigna that you are, and will remain, in full compliance with all
applicable terms and conditions;
(c) Authorizing Cigna to recover the Payment described in paragraph 8 and to seek any other
available remedy pursuant to the Covenant Agreement if you engage in a Violation; and
(d) Appointing Cigna as your agent and attorney-in-fact to secure rights with respect to Inventions if
unable to obtain your signature as described in paragraph 9.
L8T4UP7S
ACCEPTED
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Date Quantity
03/01/2022 3,346
03/01/2023 3,346
03/01/2024 3,346
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EXHIBIT G
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Cigna Corporation
Cigna Corporation (“Cigna”) has granted you the number of strategic performance shares set forth
below in this Strategic Performance Share Grant Agreement (“Strategic Performance Share Grant”
or “Grant”) under the Cigna Long-Term Incentive Plan (“Plan”). The date of your Strategic
Performance Share Grant (“Grant Date”) is also indicated below. The award is subject to the
provisions of the Plan and the Terms and Conditions below.
The award of Shares pursuant to this Strategic Performance Share Grant is expressly conditioned
on your acceptance of the terms and conditions of this Grant and of the attached Confidentiality,
Non-Competition and Non-Solicitation Agreement (or with respect to Cigna company employment
in California, the attached Confidentiality and Non-Solicitation Agreement) (as applicable, the
“Covenant Agreement”). You should carefully read all the terms and conditions of this Strategic
Performance Share Grant and the attached Covenant Agreement and be sure you understand what
they say and what your responsibilities and obligations are before you click on the ACCEPT
button to acknowledge and agree to this Grant.
If you are not willing to agree to all of the Grant and Covenant Agreement terms and conditions, do
not accept the Grant and do not click the ACCEPT button for the Strategic Performance Share
Grant Acknowledgment and Agreement. If you do not accept the Grant, you will not receive the
benefits of the Grant.
If you do click on the ACCEPT button, you are accepting and agreeing to all of the terms and
conditions of this Strategic Performance Share Grant and the Covenant Agreement, which include,
among other things, restrictive covenants such as non-competition, customer and employee non-
solicitation and non-disclosure provisions and litigation cooperation and intellectual property
assignment and assistance provisions.
Vesting Schedule
Shares Granted Approximate
Vest Date
100% of Shares Granted 03/01/2024
Please Note: The date shown in the Vesting Schedule chart above is not your actual vesting date.
It is an approximation of the expected vesting date and is provided due to systems requirements. In
accordance with the Terms and Conditions of your Strategic Performance Share Grant, the actual
vesting date will be determined by the People Resources Committee of the Board of Directors.
In addition to this Strategic Performance Share Grant and the attached Covenant Agreement, you
should also read the Plan Document and Key Contacts and Reference Materials document (attached
to the Plan) and indicate that you have done so and agree to the terms of all documents attached to
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this Grant by checking the appropriate box in the online grant acceptance process. The Key
Contacts and Reference Materials document contains information on how to get important award
information (such as the Plan Prospectus, Tax Considerations and Cigna's Securities Transactions
and Insider Trading Policy) and whom to contact if you have questions.
Please be aware that the Cigna Securities Transactions and Insider Trading Policy places
restrictions on your transactions in Cigna securities and requires certain Cigna employees to obtain
advance permission from the Corporate Secretary before executing transactions in Cigna securities.
If you have questions about your award, please contact Cigna Shareholder Services by email at
shareholderservices@cigna.com or by phone at 215.761.3516.
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Scroll down for the TERMS AND CONDITIONS of the Strategic Performance Share Grant.
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These Terms and Conditions are an important part of your grant of Strategic Performance Shares
from Cigna Corporation (Cigna). The terms of your Strategic Performance Share grant are in: (a)
the electronic Strategic Performance Share Grant Agreement above, (b) these Terms and
Conditions (including Schedule I), (c) the Covenant Agreement, and (d) the Cigna Long-Term
Incentive Plan (Plan).
Certain words in this document with first letters capitalized are defined in the Strategic
Performance Share Grant Agreement above, these Terms and Conditions or Article 2 of the Plan.
This grant is void if you are not an employee of Cigna or a Subsidiary (a Cigna company) on the
Grant Date.
(b) Notwithstanding paragraph 4(a) and subject to paragraph 4(c) and paragraph 3, if your
Termination is before the Payment Date:
(1) Your Performance Shares will vest upon your Termination if it is a Termination
Upon a Change of Control. If your Performance Shares vest under this paragraph
4(b)(1), the Shares Earned Percentage shall be 100%.
Whether there is a Termination Upon a Change of Control for purposes of this Strategic
Performance Share grant is determined by reference to a Change of Control (as defined in
the Plan) of the entity issuing this grant (Cigna Corporation) and not by reference to a
Change of Control of any predecessor entity of Cigna Corporation.
(2) Your Performance Shares will vest upon your Termination if it is due to your death
or Disability. If your Performance Shares vest under this paragraph 4(b)(2), the
Shares Earned Percentage shall be 100%.
(3) Your Performance Shares may continue to vest following your Termination due to
your Early Retirement or Retirement if:
(i) The date of Termination due to your Early Retirement or Retirement is at
least six (6) months after the Grant Date, provided that this requirement
may be waived by (i) Cigna's Senior Human Resources Officer in certain
limited and unanticipated circumstances, or (ii) with respect to the CEO or
any executive officer who is subject to the requirements of Section 16(a)
of the Exchange Act (“Executive Officer”), the Committee;
(ii) You will not be receiving severance pay from any Cigna company
(whether under any severance benefit plan or any contract, agreement or
arrangement);
(iii) You continue to comply with the terms and conditions of the Covenant
Agreement and any other restrictive covenant agreement(s) applicable to
you during the continued vesting period; and
(iv) The Committee or its designee (including Cigna’s Senior Human
Resources Officer) approves the continued vesting before your
Termination.
If you want to be considered for continued vesting when you retire, you must ask your
manager or human resources representative far enough in advance of your retirement so
there is time to process your request. A Termination resulting from a Cigna divestiture,
outsourcing or other business transaction where you become employed by the buyer,
vendor or other entity involved in the transaction will not constitute a Retirement or Early
Retirement under this paragraph 4(b)(3).
If your Performance Shares continue to vest under this paragraph 4(b)(3), the Shares
Earned Percentage shall be determined by the Committee under paragraph 3(a) above and
then prorated based on the amount of time you were employed by a Cigna company during
the applicable Performance Period prior to your Early Retirement or Retirement date.
(4) Your Performance Shares will continue to vest following your Termination if your
Termination is an Involuntary Termination that occurs within twelve (12) months
of the Payment Date for the Performance Shares described in paragraph 5 below.
For example, if the date of your Involuntary Termination is June 1, 2023 you will
vest in any Performance Shares scheduled to be paid on or before June 1, 2024 on
the otherwise scheduled Payment Date.
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If your Performance Shares continue to vest under this paragraph 4(b)(4), the Shares
Earned Percentage shall be determined by the Committee under paragraph 3(a) above and
then prorated based on the amount of time you were employed by a Cigna company during
the applicable Performance Period prior to the date of your Involuntary Termination.
The continued vesting described in this paragraph 4(b)(4) is subject to (and contingent
upon) your ongoing compliance with the terms and conditions of the Covenant Agreement
and any other restrictive covenant agreement(s) applicable to you during the continued
vesting period.
(5) Except with respect to the CEO or any Executive Officer, if approved by Cigna's
Senior Human Resources Officer, or his or her designee, before your Termination,
your Shares may continue to vest following your Termination if you (1) continue
to provide services to Cigna as a consultant or contractor under the terms of an
agreement and release between you and Cigna, and (2) continue to comply with the
terms and conditions of the Covenant Agreement and any other restrictive
covenant agreement(s) applicable to you during the continued vesting period.
If your Performance Shares continue to vest under this paragraph 4(b)(5), the Shares
Earned Percentage shall be determined by the Committee under paragraph 3(a) above.
The continued vesting period, if any, under this paragraph 4(b)(5) shall be equal to the
period of your continued services to Cigna as a consultant or contractor under the terms of
an agreement and release.
(6) For avoidance of doubt, the continued vesting described in paragraphs 4(b)(3),
4(b)(4) and 4(b)(5) above is expressly subject to (and contingent upon) your
ongoing compliance with the Covenant Agreement and any other restrictive
covenant agreement(s) applicable to you during the continued vesting period. If a
Violation (as defined below) occurs or is discovered following your Termination,
then, in addition to any other remedies available to Cigna under this Grant or the
Covenant Agreement, any then unvested Performance Shares shall be immediately
and automatically forfeited.
(c) You must comply in all respects with the terms and conditions of this Grant and the
Covenant Agreement.
5. Payment
(a) Except as provided in paragraph 5(b) and 5(c), below, your vested Shares Earned under
this grant will be paid in the year following the close of the Performance Period on the date
within such year specified by the Committee (Payment Date).
(b) Any Performance Shares that vest on account of your Termination due to death or
Disability will be paid during the 90 day period immediately following your Termination
due to death or Disability to you (or to your estate, in the case of death).
(c) Any Performance Shares that vest on account of your Termination Upon a Change of
Control will be paid during the 30 day period immediately following your Termination
Upon a Change of Control, provided that the applicable Change of Control is a “change in
control event” under Code Section 409A.
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If the applicable Change of Control is not a “change in control event” under Code Section
409A, your vested Shares Earned will be paid as provided in paragraph 5(a) above.
(d) For each Share Earned that vests, Cigna will make payment by issuing one Share as of the
Payment Date. Until the Shares are issued to you, you will not be a Cigna shareholder, not
have the right to vote the Shares, and not receive actual dividends.
6. Taxes
Section 17.7 of the Plan shall apply to any tax withholding that may be required by law for
Performance Shares or Shares. Upon the vesting or payment of any Performance Share, Cigna
reserves the right to withhold enough newly-issued Shares to cover all or part of any applicable tax
withholding.
8. Conditions of Grant
(a) By accepting the grant, you are agreeing:
(1) to the Inventions provision in paragraph 8(b);
(2) to the restrictions contained in the attached Covenant Agreement and in paragraph
8(c)(2) below (such restrictions collectively, the “Promises”);
(3) to notify Cigna if you accept an offer to perform services for any individual or
entity while you are subject to the non-competition Promise under the Covenant
Agreement. Such notice shall be provided by email to noncompete@express-
scripts.com within 10 days of your acceptance of the offer and shall identify the
individual or entity and your anticipated start date;
(4) to disclose the terms of the Promises (including, without limitation, the Promises
related to non-solicitation and non-competition) and the consequences of a
Violation (as defined below) to any individual or entity for whom you perform
services during the 12 month period immediately following your Termination; and
(5) not to engage in any activity that would constitute a Violation (as defined below).
You understand and agree that the conditions of the grant set forth in this paragraph 8(a)
are a material part of the inducement for Cigna's granting you the Performance Shares and
essential pre-conditions to your eligibility to exercise any rights associated with the Grant
and retain any benefit from the vesting of the Performance Shares and issuance of the
Shares.
The award of Shares pursuant to this Strategic Performance Share Grant is expressly
conditioned on your acceptance of the terms and conditions of this Grant and of the
attached Covenant Agreement. If you decide to accept this Strategic Performance Share
Grant, you are accepting and agreeing to all of the terms and conditions of this Grant and
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of the attached Covenant Agreement, which include, among other things, restrictive
covenants such as non-competition, customer and employee non-solicitation and non-
disclosure provisions and litigation cooperation and intellectual property assignment and
assistance provisions.
You should review the terms of this Grant and the Covenant Agreement carefully to ensure
that you understand what they say and what your responsibilities and obligations are
before you click on the accept button to acknowledge and agree to this Grant.
(b) Inventions
(1) You hereby assign and promise to assign to Cigna companies or their designee, all
your right, title, and interest in and to any and all current and future Inventions.
You acknowledge that all original works of authorship which you make (whether
alone or jointly with others) within the scope of your Cigna company employment
and which are protectable by copyright are “works made for hire,” as defined in
the United States Copyright Act.
(2) You agree to (i) maintain and make available adequate current records, including
electronic records, notes, sketches and drawings, of all Inventions you make, and
(ii) disclose such Inventions in writing upon request. These records will remain the
property of Cigna companies.
(3) If in the course of your Cigna company employment, you incorporate a Prior
Invention into any Cigna company work product, you grant Cigna companies a
nonexclusive, royalty-free, irrevocable, perpetual, worldwide license to use the
Prior Invention as part of or in connection with the work product. Within 45 days
after the date of this grant, you agree to notify Cigna Shareholder Services
(shareholderservices@Cigna.com) of any Prior Inventions that you are not
assigning under this paragraph 8(b).
(4) “Inventions” means any and all inventions, original works of authorship,
developments, concepts, sales methods, improvements, trade secrets, or similar
intellectual property, whether or not patentable or registrable under copyright or
similar laws, that relate to any Cigna company’s current or proposed business,
work products or research and development which you have or will solely or
jointly conceive, develop, reduce to practice, or fix during your Cigna company
employment.
(5) “Prior Inventions” means all inventions, original works of authorship,
developments, concepts, sales methods, improvements, trade secrets or similar
intellectual property, whether or not patentable or registrable under copyright or
similar laws, that relate to any Cigna company’s current or proposed business,
work products or research and development which you conceived, developed,
reduced to practice or fixed before your Cigna company employment and which
belong to you.
(c) Violation
You will engage in a “Violation” if, directly or indirectly, you engage in any willful
misconduct as described in paragraph 8(c)(1) below or you break any of the “Promises”.
(1) Willful Misconduct:
(A) You have a Termination initiated by a Cigna company because you
engaged in conduct that constitutes a gross violation of Cigna's Code of
Ethics and Principles of Conduct or other employment policies.
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(B) You do anything else while an employee of any Cigna company that is not
discovered by the company until after your Termination and that would, if
you had still been employed at the time of the discovery, be reason for
your Termination for willful misconduct, as described above.
(2) Promise to Assist with Patent and Copyright Registrations:
(A) You Promise that, during your Cigna company employment and after your
Termination, you will assist Cigna companies, should they request and at
Cigna's expense, to secure their rights (including any copyrights, patents,
trademarks or other intellectual property rights) in or relating to the
Inventions in any and all countries, including by:
(i) disclosing to Cigna Companies all pertinent information and data;
and
(ii) executing all applications, assignments or other instruments
necessary to apply for and obtain these rights and assign them to
Cigna companies.
(d) (1) If you were an Executive Officer at any time during the 24-month period before
the date of a Violation of the Covenant Agreement, the Committee will have the
sole discretion to waive your obligation to make all or any part of the Payment
(described in paragraph 9) and to impose conditions on any waiver.
(2) If you are in Career Band 6 or higher on your Termination date but not subject to
paragraph 8(d)(1) above, Cigna’s Restrictive Covenant Review Committee will
have the sole discretion to waive your obligation to make all or any part of the
Payment (described in paragraph 9) and to impose conditions on any waiver.
(3) Otherwise, Cigna's Senior Human Resources Officer, or his or her designee, will
have the sole discretion to waive your obligation to make all or any part of the
Payment and to impose conditions on any waiver.
(4) Determinations of the Committee, the Restrictive Covenant Review Committee, or
Cigna's Senior Human Resources Officer (or his or her designee), will be final and
binding on all parties.
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(c) “Payment” is the value you realize from any Performance Shares that are paid under
paragraph 5 during the 12-month period prior to the date of your Termination and
thereafter. The Payment will equal:
(1) The number of Performance Shares that are paid during the applicable period;
multiplied by
(2) The Fair Market Value of the Shares issued on the Payment Date for those
Performance Shares;
plus
(3) The total amount of all actual dividends, if any, paid to you on those Shares
through the date of the Payment described in paragraph 9(d).
(d) Cigna will recover the Payment from you by any means permitted by applicable law, at the
sole discretion of Cigna management, including but not limited to any or all of the
following methods:
(1) If you have any Shares in a Stock Account or in any other account in book-entry
form when a Violation occurs, Cigna will take back from you the whole number of
Shares that has a total Fair Market Value as of the date of the Violation up to, but
not more than, the Payment amount.
(2) Cigna will, to the extent permitted by applicable law, reduce:
(A) The amount of any payments that any Cigna company owes you for any
reason (including without limit any payments owed to you under any
nonqualified retirement, deferred compensation or other plan or
arrangement) by
(B) The Payment amount.
This reduction will not occur until the date a future payment to you is due.
(3) Cigna will send you a written notice and demand for all or part of any Payment
amount. Within 30 days after you receive that notice and demand, you must make
the Payment to Cigna.
(b) You agree to assume the risks, including the risk that the market price of the Shares may
change, related to delays described in paragraph 11(a) between the time you ask for any
Shares to be sold and the time your Shares are actually sold.
12. Applicable Law
You understand and agree that, except as otherwise provided in the Covenant Agreement, the terms
and conditions of this Strategic Performance Share Grant and all determinations made under the
Strategic Performance Share Grant Agreement, the Plan, and these Terms and Conditions will be
interpreted under the laws of the State of Delaware, without regard to its conflict of laws rule.
For the avoidance of doubt, the terms and conditions of the Covenant Agreement and all
determinations made under the Covenant Agreement will be interpreted under applicable state law
as set forth in the Covenant Agreement.
13. Arbitration
Except as otherwise provided in the Covenant Agreement, if you have an agreement with Cigna to
arbitrate employment-related disputes, you agree to resolve any disputes relating to this Strategic
Performance Share Grant through arbitration.
14. Acceptance
If you disagree with any of these Terms and Conditions, or the terms and conditions of the
Covenant Agreement, YOU MUST NOT ACCEPT THE STRATEGIC PERFORMANCE
SHARE GRANT. If you sign the Strategic Performance Share grant, or the Covenant Agreement,
or acknowledge your acceptance electronically or otherwise, you will be:
(a) Agreeing to all the terms and conditions of the Strategic Performance Share grant and of
the Covenant Agreement, including the Inventions provision in paragraph 8(b) and all of
the Promises;
(b) Warranting and representing to Cigna that you are, and will remain, in full compliance
with all applicable terms and conditions;
(c) Authorizing Cigna to recover the Payment described in paragraph 9 and to seek any other
available remedy pursuant to the Covenant Agreement, if you engage in a Violation; and
(d) Appointing Cigna as your agent and attorney-in-fact to secure rights with respect to
Inventions if unable to obtain your signature as described in paragraph 10.
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Schedule I to
Terms and Conditions of 2021 Grants
of Strategic Performance Shares
For Performance Period 2021-2023
“Shares Awarded” is the number of Performance Shares granted to an eligible employee for the
Performance Period. Shares Awarded are allocated at time of grant to the two weighted
performance measures (the “Performance Measure Components”) as follows: 50% to Total
Shareholder Return and 50% to Earnings Per Share Growth.
“Shares Earned” is determined after the end of the three-year Performance Period. Shares Earned
will range from 0% to 200% of the Shares Awarded, and the actual number of Shares Earned will
depend on the degree to which Cigna achieves the goals set at time of grant for each Performance
Measure Component, as described below under Compensation Determination, and the PRC’s
exercise of downward discretion, if applied.
Performance Measurement
The two Performance Measure Components for the 2021-2023 Performance Period are:
Cigna's Total Shareholder Return (TSR) relative to a peer group of industry competitors,
and
Earnings Per Share Growth for the ongoing businesses.
The formulas described below under Compensation Determination will be used to determine the
Shares Earned Percentage (called the Vesting Percentage in the Cigna Long-Term Incentive Plan).
The determination is made separately for each set of Shares Awarded that is allocated to a
Performance Measure Component. The formula for each Performance Measure Component
includes a minimum performance threshold, below which the Shares Earned Percentage for that
Performance Measure Component will be zero. In addition, the PRC has complete discretion to
apply its judgment to the results generated by the formula for the TSR Performance Measure
Component and make adjustments downward, as far down as 0%, in the Shares Earned Percentage.
For the Earnings Per Share component, the PRC will consider the CEO’s recommendation and
determine the Shares Earned percentage within the range of the applicable performance tier.
The PRC also has the right to adjust or change completely, in its sole discretion, the Performance
Measures and/or the formulas for calculating the Shares Earned percentages if Cigna or one of the
designated Peer Group companies is involved in any material merger, acquisition or divestiture
during the Performance Period.
For the Total Shareholder Return Component, the designated industry competitors (the Peer Group)
for the 2021-2023 Performance Period are: AmerisourceBergen, Anthem, Cardinal Health,
Centene, CVS, Humana, McKesson, UnitedHealth, and Walgreens Boots. These companies were
determined to be Cigna's publicly-traded peers based upon business mix and other factors.
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Compensation Determination
The compensation to be paid for each SPS award (that is, the Shares Earned) is determined in a
three-step process.
In determining the Shares Earned Percentage for the Total Shareholder Return Component,
relative TSR is measured against five percentage ranges of Shares Earned, at each of the
25th, 50th, 75th and 85th relative percentile rankings, and then using straight line
interpolation based on Cigna's three-year TSR for the 2021-2023 Performance Period
within the relevant percentage range to determine Shares Earned for the TSR measure.
Cigna’s TSR performance relative to TSR performance of the Peer Group companies will
determine which percentage range will be used to calculate the Shares Earned percentage.
The three-year TSR is the compound annual growth rate in share price over three years,
with dividends treated as reinvested.
In determining the Shares Earned Percentage for the TSR Component, the matrix below
will be used. Any Peer Group company that is no longer a stand-alone company at the end
of the Performance Period will not be included in the calculation. As indicated in the
matrix, the relative TSR Target is the 50th percentile, and the Threshold relative TSR
(below which no value will be allocated to the TSR component) is the 25th percentile.
* The Shares Earned percentage within a defined relative TSR percentage range of achievement is
determined using straight line interpolation based on Cigna's actual TSR performance; however,
there are no Shares Earned for performance below the 25th percentile.
In determining the Shares Earned Percentage for the Earnings Per Share Growth
Component, the following matrix will be used. Management will make a recommendation
to the PRC regarding the Shares Earned within the range. It is important to note that the
maximum Shares Earned for each performance level is the top end of the range, but the
PRC has downward discretion in each level to adjust the component value down to the
lowest percentage of the range.
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The number of Shares Awarded to an award recipient for the Performance Period that was
allocated to each Performance Measure Component is multiplied by the approved Shares
Earned Percentage for that Component as follows:
The number of Shares Earned for each Performance Measure Component are added together to
determine total number of Shares Earned by the award recipient for the Performance Period. There
will not be any fractional Shares Earned; the number of Shares Earned will be rounded following
normal rounding rules. The total number of Shares Earned cannot exceed 200% of the Shares
Awarded.
L8T4UJOW
ACCEPTED
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EXHIBIT H
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Cigna Corporation
Cigna Corporation (“Cigna”) has granted you the number of shares of restricted stock of Cigna set
forth below in this Restricted Stock Grant Agreement (“Restricted Stock Grant” or “Grant”) under
the Cigna Long-Term Incentive Plan (“Plan”). The date of your Restricted Stock Grant (“Grant
Date”) and the dates on which your Grant is scheduled to vest (“Vesting Dates”) are also indicated
below. The award is subject to the provisions of the Plan and the Terms and Conditions below.
The award of Shares pursuant to this Restricted Stock Grant is expressly conditioned on your
acceptance of the terms and conditions of this Grant and of the attached Confidentiality, Non-
Competition and Non-Solicitation Agreement (or, with respect to Cigna company employment in
California, the attached Confidentiality and Non-Solicitation Agreement) (as applicable, the
“Covenant Agreement”). You should carefully read all the terms and conditions of this Restricted
Stock Grant and the attached Covenant Agreement and be sure you understand what they say and
what your responsibilities and obligations are before you click on the ACCEPT button to
acknowledge and agree to this Grant.
If you are not willing to agree to all of the Grant and Covenant Agreement terms and conditions, do
not accept the Grant and do not click the ACCEPT button for the Restricted Stock Grant
Acknowledgment and Agreement. If you do not accept the Grant, you will not receive the benefits
of the Grant.
If you do click on the ACCEPT button, you are accepting and agreeing to all of the terms and
conditions of this Restricted Stock Grant and the Covenant Agreement, which include, among other
things, restrictive covenants such as non-competition, customer and employee non-solicitation and
non-disclosure provisions and litigation cooperation and intellectual property assignment and
assistance provisions.
Vesting Schedule
Shares Granted Vesting Date
1/3 of the Shares Granted The First Anniversary of the Grant Date
1/3 of the Shares Granted The Second Anniversary of the Grant Date
1/3 of the Shares Granted The Third Anniversary of the Grant Date
In addition to this Restricted Stock Grant and the attached Covenant Agreement, you should also
read the Plan Document and Key Contacts and Reference Materials document (attached to the
Plan) and indicate that you have done so and agree to the terms of all documents attached to this
Grant by checking the appropriate box in the online grant acceptance process. The Key Contacts
and Reference Materials document contains information on how to get important stock award
information (such as the Plan Prospectus, Tax Considerations and Cigna's Securities Transactions
and Insider Trading Policy) and whom to contact if you have questions.
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Please be aware that the Cigna Securities Transactions and Insider Trading Policy places
restrictions on your transactions in Cigna securities and requires certain Cigna employees to obtain
advance permission from the Corporate Secretary before executing transactions in Cigna securities.
If you have questions about your award, please contact Cigna Shareholder Services by email at
shareholderservices@cigna.com or by phone at 215.761.3516.
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Important Notice: Restricted Stock Grant and Covenant Agreement Acknowledgment and
Agreement
Scroll down for the TERMS AND CONDITIONS of the Restricted Stock Grant.
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These Terms and Conditions are an important part of your grant of Restricted Stock from Cigna
Corporation (Cigna). The terms of your Restricted Stock grant are in: (a) the electronic Restricted
Stock Grant Agreement above, (b) these Terms and Conditions, (c) the Covenant Agreement and
(d) the applicable Plan provisions.
Certain words in this document with first letters capitalized are defined in the Restricted Stock
Grant Agreement above, these Terms and Conditions or Article 2 of the Plan. This grant is void if
you are not an employee of Cigna or a Subsidiary (a Cigna company) on the Grant Date.
3. Early Vesting
In certain situations your vesting date may be earlier than the Vesting Dates described in paragraph
2:
(a) The Shares will vest upon your Termination of Employment if it is Upon a Change of
Control or due to your death or Disability. Whether there is a Termination Upon a Change
of Control for purposes of this Restricted Stock grant is determined by reference to a
Change of Control (as defined in the Plan) of the entity issuing this grant (Cigna
Corporation) and not by reference to a Change of Control of any predecessor entity of
Cigna Corporation.
(b) The Shares may vest upon your Termination of Employment if:
(1) It is due to your Early Retirement or Retirement; and
(2) The People Resources Committee or its designee (including Cigna’s senior human
resources officer) approves the early vesting before your Termination of
Employment.
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If you want to be considered for early vesting when you retire, you must ask your manager
or human resources representative far enough in advance of your retirement so there is time
to process your request.
5. Taxes at Vesting
When the Shares vest, you must satisfy any required tax withholding obligation. Cigna reserves
the right to withhold enough newly-vested Shares to cover all or part of any applicable tax
withholding. However, if section 83(b) of the U.S. Internal Revenue Code of 1986, as amended,
applies to you and you make a timely election under that provision, you must make an immediate
cash payment to satisfy any required tax withholding obligation.
7. Conditions of Grant
(a) By accepting the grant, you are agreeing:
(1) to the Inventions provision in paragraph 7(b);
(2) to the restrictions contained in the attached Covenant Agreement and in paragraph
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You understand and agree that the conditions of the grant set forth in this paragraph 7(a)
are a material part of the inducement for Cigna's granting you the Shares and essential pre-
conditions to your eligibility to exercise any rights associated with the Shares and retain
any benefit from the vesting of the Shares.
The award of Shares pursuant to this Restricted Stock Grant is expressly conditioned on
your acceptance of the terms and conditions of this Grant and of the attached Covenant
Agreement. If you decide to accept this Restricted Stock Grant, you are accepting and
agreeing to all of the terms and conditions of this Grant and of the attached Covenant
Agreement, which include, among other things, restrictive covenants such as non-
competition, customer and employee non-solicitation and non-disclosure provisions and
litigation cooperation and intellectual property assignment and assistance provisions.
You should review the terms of this Grant and the Covenant Agreement carefully to ensure
that you understand what they say and what your responsibilities and obligations are
before you click on the accept button to acknowledge and agree to this Grant.
(b) Inventions
(1) You hereby assign and promise to assign to Cigna companies or their designee, all
your right, title, and interest in and to any and all current and future Inventions. You
acknowledge that all original works of authorship which you make (whether alone or
jointly with others) within the scope of your Cigna company employment and which are
protectable by copyright are “works made for hire,” as defined in the United States
Copyright Act.
(2) You agree to (i) maintain and make available adequate current records, including
electronic records, notes, sketches and drawings, of all Inventions you make, and (ii)
disclose such Inventions in writing upon request. These records will remain the property of
Cigna companies.
(3) If in the course of your Cigna company employment, you incorporate a Prior
Invention into any Cigna company work product, you grant Cigna companies a
nonexclusive, royalty-free, irrevocable, perpetual, worldwide license to use the Prior
Invention as part of or in connection with the work product. Within 45 days after the date
of this grant, you agree to notify Cigna Shareholder Services
(shareholderservices@Cigna.com) of any Prior Inventions that you are not assigning under
this paragraph 7(b).
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(4) “Inventions” means any and all inventions, original works of authorship,
developments, concepts, sales methods, improvements, trade secrets, or similar intellectual
property, whether or not patentable or registrable under copyright or similar laws, that
relate to any Cigna company’s current or proposed business, work products or research and
development which you have or will solely or jointly conceive, develop, reduce to practice,
or fix during your Cigna company employment.
(5) “Prior Inventions” means all inventions, original works of authorship,
developments, concepts, sales methods, improvements, trade secrets or similar intellectual
property, whether or not patentable or registrable under copyright or similar laws, that
relate to any Cigna company’s current or proposed business, work products or research and
development which you conceived, developed, reduced to practice or fixed before your
Cigna company employment and which belong to you.
(c) Violation
You will engage in a “Violation” if, directly or indirectly, you engage in any willful
misconduct as described in paragraph 7(c)(1) below, or you break any of the Promises.
(1) Willful Misconduct:
(A) You have a Termination of Employment initiated by a Cigna company
because you engaged in conduct that constitutes a gross violation of
Cigna's Code of Ethics and Principles of Conduct or other employment
policies.
(B) You do anything else while an employee of any Cigna company that is not
discovered by the company until after your Termination of Employment
and that would, if you had still been employed at the time of the discovery,
be reason for your Termination of Employment for willful misconduct, as
described above.
(2) Promise to Assist with Patent and Copyright Registrations:
(A) You Promise that, during your Cigna company employment and after your
Termination of Employment, you will assist Cigna companies, should they
request and at Cigna's expense, to secure their rights (including any
copyrights, patents, trademarks or other intellectual property rights) in or
relating to the Inventions in any and all countries, including by:
(i) disclosing to Cigna companies all pertinent information and data;
and
(ii) executing all applications, assignments or other instruments
necessary to apply for and obtain these rights and assign them to
Cigna companies.
(d) (1) If you were an Executive Officer (subject to the requirements of Section 16(a) of
the Exchange Act) at any time during the 24-month period before the date of a
Violation of the Covenant Agreement, the People Resources Committee will have
the sole discretion to waive your obligation to make all or any part of the Payment
(described in paragraph 8) and to impose conditions on any waiver.
(2) Otherwise, Cigna's Senior Human Resources Officer, or his or her designee, will
have the sole discretion to waive your obligation to make all or any part of the
Payment and to impose conditions on any waiver.
(3) Determinations of the People Resources Committee, Cigna's Senior Human
Resources Officer, or his or her designee, will be final and binding on all parties.
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(a) If Cigna Companies are unable to obtain your signature on any instruments needed to
secure their rights in or relating to the Inventions pursuant to paragraph 7(c)(2)(A); then
(b) You hereby appoint Cigna companies and their duly authorized officers as your agents and
attorneys in fact to act for and on your behalf to execute and file any documents and take
other actions as may be necessary for Cigna companies to secure those rights.
10. Agreeing to Assume Risks
Cigna, its stock plan administrator and its transfer agent will try to process your stock transaction
requests in a timely manner; however, Cigna makes no promises or guarantees to you relating to
the market price of the Shares or to the time it may take to act on your request to sell the Shares.
By accepting this Restricted Stock grant:
(a) You acknowledge that the action you request may not be completed until several days after
you submit it.
(b) You agree to assume the risks, including the risk that the market price of the Shares may
change, related to delays described in paragraph 10(a) between the time you ask for any
Shares to be sold and the time your Shares are actually sold.
11. Applicable Law
You understand and agree that, except as otherwise provided in the Covenant Agreement, the terms
and conditions of this Restricted Stock Grant and all determinations made under the Restricted
Stock Grant Agreement, the Plan, and these Terms and Conditions will be interpreted under the
laws of the State of Delaware, without regard to its conflict of laws rule.
For the avoidance of doubt, the terms and conditions of the Covenant Agreement and all
determinations made under the Covenant Agreement will be interpreted under applicable state law
as set forth in the Covenant Agreement.
12. Arbitration
Except as otherwise provided in the Covenant Agreement, if you have an agreement with Cigna to
arbitrate employment-related disputes, you agree to resolve any disputes relating to this Restricted
Stock Grant through arbitration.
13. Acceptance
If you disagree with any of these Terms and Conditions or the terms and conditions of the
Covenant Agreement, YOU MUST NOT ACCEPT THE RESTRICTED STOCK GRANT. If
you sign the Restricted Stock Grant or the Covenant Agreement, or acknowledge your acceptance
electronically or otherwise, you will be:
(a) Agreeing to all the terms and conditions of the Restricted Stock Grant and of the Covenant
Agreement, including the Inventions provision in paragraph 7(b) and all of the Promises;
(b) Warranting and representing to Cigna that you are, and will remain, in full compliance
with all applicable terms and conditions;
(c) Authorizing Cigna to recover the Payment described in paragraph 8 and to seek any other
available remedy pursuant to the Covenant Agreement, if you engage in a Violation; and
(d) Appointing Cigna as your agent and attorney-in-fact to secure rights with respect to
Inventions if unable to obtain your signature as described in paragraph 9.
2020 US RSG Grant Agreement (3 Year graded) including Terms and Conditions
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K916OX5V
ACCEPTED
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EXHIBIT I
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Cigna Corporation
Cigna Corporation (“Cigna”) has granted you the option to purchase the number of shares of Cigna
Common Stock set forth below in this Option Grant Agreement (“Option Grant”) under the Cigna Long-
Term Incentive Plan (“Plan”). The date of your Option Grant (“Grant Date”), the dates on which your
Option Grant is scheduled to vest (“Vesting Dates”) and the date on which it is scheduled to expire
(“Expiration Date”) are also indicated below. The award is subject to the provisions of the Plan and the
Terms and Conditions below.
The award of Options pursuant to this Nonqualified Stock Option Grant is expressly conditioned on your
acceptance of the terms and conditions of this Option Grant and of the attached Confidentiality, Non-
Competition and Non-Solicitation Agreement (or, with respect to Cigna company employment in
California, the attached Confidentiality and Non-Solicitation Agreement) (as applicable, the “Covenant
Agreement”). You should carefully read all the terms and conditions of this Option Grant and the
attached Covenant Agreement and be sure you understand what they say and what your responsibilities
and obligations are before you click on the ACCEPT button to acknowledge and agree to this Option
Grant.
If you are not willing to agree to all of the Option Grant and Covenant Agreement terms and conditions,
do not accept the Option Grant and do not click the ACCEPT button for the Option Grant
Acknowledgment and Agreement. If you do not accept the Option Grant, you will not receive the
benefits of the Option Grant.
If you do click on the ACCEPT button, you are accepting and agreeing to all of the terms and
conditions of this Option Grant and the Covenant Agreement, which include, among other things,
restrictive covenants such as non-competition, customer and employee non-solicitation and non-
disclosure provisions and litigation cooperation and intellectual property assignment and assistance
provisions.
Vesting Schedule
Options Granted Vesting Date
1/3 of the Options Granted The First Anniversary of the Grant Date
1/3 of the Options Granted The Second Anniversary of the Grant Date
1/3 of the Options Granted The Third Anniversary of the Grant Date
In addition to this Nonqualified Stock Option Grant and the attached Covenant Agreement, you should
also read the Plan Document and Key Contacts and Reference Materials document (attached to the Plan)
and indicate that you have done so and agree to the terms of all documents attached to this Option Grant
by checking the appropriate box in the online grant acceptance process. The Key Contacts and Reference
Materials document contains information on how to get important stock award information (such as the
Plan Prospectus, Tax Considerations and Cigna's Securities Transactions and Insider Trading Policy) and
whom to contact if you have questions.
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Please be aware that the Cigna Securities Transactions and Insider Trading Policy places restrictions on
your transactions in Cigna securities and requires certain Cigna employees to obtain advance permission
from the Corporate Secretary before executing transactions in Cigna securities.
If you have questions about your award, please contact Cigna Shareholder Services by email at
shareholderservices@cigna.com or by phone at 215.761.3516.
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Important Notice: Option Grant and Covenant Agreement Acknowledgment and Agreement
Scroll down for the TERMS AND CONDITIONS of the Option Grant.
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These Terms and Conditions are an important part of your grant of a nonqualified stock option (Option)
from Cigna Corporation (Cigna). The terms of your Option are in (a) the electronic Option Grant
Agreement above, (b) these Terms and Conditions, (c) the Covenant Agreement, and (d) the applicable
Plan provisions.
Certain words in this document with first letters capitalized are defined in the Option Grant Agreement
above, these Terms and Conditions or Article 2 of the Plan. This grant is void if you are not an employee
of Cigna or a Subsidiary (a Cigna company) on the Grant Date.
1. The Option
The Option gives you the right to buy a certain number of shares of Cigna Common Stock (Shares)
during the Option Period (described in paragraph 2) at the Option Price. Your Option Grant Agreement
lists the number of Shares and your Option Price. To buy the Shares at the Option Price, you must
exercise the Option.
3. Early Vesting
The Option may vest earlier than the dates listed under paragraph 2(b) as described here. If your
Termination of Employment occurs before the Option vests under paragraph 2, the Option will vest on
your Termination of Employment date, but only if your Termination of Employment is:
(a) Because of your death, Disability, Early Retirement or Retirement and you have not received or
will not be receiving severance pay from any Cigna company (whether under any severance
benefit plan or any contract, agreement or arrangement); or
(b) Upon a Change of Control.
Whether there is a Termination Upon a Change of Control for purposes of this Option Grant is
determined by reference to a Change of Control (as defined in the Plan) of the entity issuing this grant
(Cigna Corporation) and not by reference to a Change of Control of any predecessor entity of Cigna
Corporation.
severance benefit plan or any contract, agreement or arrangement), then the Option will expire at
5:00 p.m. Philadelphia time on the Expiration Date.
(c) If your Termination of Employment is because of your Early Retirement, and you will not be
receiving severance pay from any Cigna company (whether under any severance benefit plan or
any contract, agreement or arrangement), the Option will expire at 5:00 p.m. Philadelphia time
on:
(1) The earlier of the Expiration Date or the third anniversary of your Termination of
Employment date; or
(2) The Expiration Date if, within six months before your Termination of Employment date,
you were an Executive Officer subject to the requirements of Section 16(a) of the
Securities Exchange Act of 1934 (“Executive Officer”).
(d) If your Termination of Employment is Upon a Change of Control (of Cigna Corporation), the
Option will expire on the earlier of the Expiration Date or ninety (90) days after your Termination
of Employment date.
(e) The Option will expire immediately upon your Termination for Cause.
6. Book-Entry Shares
Cigna (or a custodian appointed by Cigna) will hold any Shares you, your beneficiary or estate acquire
upon exercise of the Option in book-entry form in a Stock Account. That is, a record of Share ownership
will be kept electronically.
7. Conditions of Grant
(a) By accepting the grant, you are agreeing:
(1) to the Inventions provision in paragraph 7(b);
(2) to the restrictions contained in the attached Covenant Agreement and in paragraph 7(c)(2)
below (such restrictions collectively, the “Promises”);
(3) to notify Cigna if you accept an offer to perform services for any individual or entity
while you are subject to the non-competition Promise under the Covenant Agreement.
Such notice shall be provided by email to Cigna Shareholder Services
(shareholderservices@Cigna.com) within 10 days of your acceptance of the offer and
shall identify the individual or entity and your anticipated start date;
(4) to disclose the terms of the Promises (including, without limitation, the Promises
related to non-solicitation and non-competition) and the consequences of a Violation (as
defined below) to any individual or entity for whom you perform services during the 12
month period immediately following your Termination of Employment; and
(5) not to engage in any activity that would constitute a Violation (as defined below).
You understand and agree that the conditions of the grant set forth in this paragraph 7(a) are a
material part of the inducement for Cigna's granting you the Option and essential pre-conditions
to your eligibility to exercise any rights associated with the Option and retain any benefit from
exercising the Option.
The award of Options pursuant to this Nonqualified Stock Option Grant is expressly conditioned
on your acceptance of the terms and conditions of this Option Grant and of the attached Covenant
Agreement. If you decide to accept this Nonqualified Stock Option Grant, you are accepting and
agreeing to all of the terms and conditions of this Option Grant and of the attached Covenant
Agreement, which include, among other things, restrictive covenants such as non-competition,
customer and employee non-solicitation and non-disclosure provisions and litigation cooperation
and intellectual property assignment and assistance provisions.
You should review the terms of this Option Grant and the Covenant Agreement carefully to
ensure that you understand what they say and what your responsibilities and obligations are
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before you click on the accept button to acknowledge and agree to this Option Grant.
(b) Inventions
(1) You hereby assign and promise to assign to Cigna companies or their designee, all your
right, title, and interest in and to any and all current and future Inventions. You acknowledge that
all original works of authorship which you make (whether alone or jointly with others) within the
scope of your Cigna company employment and which are protectable by copyright are “works
made for hire,” as defined in the United States Copyright Act.
(2) You agree to (i) maintain and make available adequate current records, including
electronic records, notes, sketches and drawings, of all Inventions you make, and (ii) disclose
such Inventions in writing upon request. These records will remain the property of Cigna
companies.
(3) If in the course of your Cigna company employment, you incorporate a Prior Invention
into any Cigna company work product, you grant Cigna companies a nonexclusive, royalty-free,
irrevocable, perpetual, worldwide license to use the Prior Invention as part of or in connection
with the work product. Within 45 days after the date of this grant, you agree to notify Cigna
Shareholder Services (shareholderservices@Cigna.com) of any Prior Inventions that you are not
assigning under this paragraph 7(b).
(4) “Inventions” means any and all inventions, original works of authorship, developments,
concepts, sales methods, improvements, trade secrets, or similar intellectual property, whether or
not patentable or registrable under copyright or similar laws, that relate to any Cigna company’s
current or proposed business, work products or research and development which you have or will
solely or jointly conceive, develop, reduce to practice, or fix during your Cigna company
employment.
(5) “Prior Inventions” means all inventions, original works of authorship, developments,
concepts, sales methods, improvements, trade secrets or similar intellectual property, whether or
not patentable or registrable under copyright or similar laws, that relate to any Cigna company’s
current or proposed business, work products or research and development which you conceived,
developed, reduced to practice or fixed before your Cigna company employment and which
belong to you.
(c) Violation
You will engage in a “Violation” if, directly or indirectly, you engage in any willful misconduct
as described in paragraph 7(c)(1) below or you break any of the Promises.
(1) Willful Misconduct:
(A) You have a Termination of Employment initiated by a Cigna company because
you engaged in conduct that constitutes a gross violation of Cigna's Code of
Ethics and Principles of Conduct or other employment policies.
(B) You do anything else while an employee of any Cigna company that is not
discovered by the company until after your Termination of Employment and that
would, if you had still been employed at the time of the discovery, be reason for
your Termination of Employment for willful misconduct, as described above.
(2) Promise to Assist with Patent and Copyright Registrations:
(A) You Promise that, during your Cigna company employment and after your
Termination of Employment, you will assist Cigna companies, should they
request and at Cigna’s expense, to secure their rights (including any copyrights,
patents, trademarks or other intellectual property rights) in or relating to the
Inventions in any and all countries, including by:
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(i) disclosing to Cigna Companies all pertinent information and data; and
(ii) executing all applications, assignments or other instruments necessary to
apply for and obtain these rights and assign them to Cigna companies.
(d) (1) If you were an Executive Officer (subject to the requirements of Section 16 (a) of the
Exchange Act) at any time during the 24-month period before the date of a Violation of
the Covenant Agreement, the People Resources Committee will have the sole discretion
to waive your obligation to make all or any part of the Payment (described in paragraph
8) and to impose conditions on any waiver.
(2) Otherwise, Cigna's Senior Human Resources Officer, or his or her designee, will have the
sole discretion to waive your obligation to make all or any part of the Payment and to
impose conditions on any waiver.
(3) Determinations of the People Resources Committee, Cigna's Senior Human Resources
Officer, or his or her designee, will be final and binding on all parties.
(b) You must immediately make the Payment described in paragraph 8(c) to Cigna in the manner
described in paragraph 8(d) if:
(1) You engage in a Violation of the non-competition or non-solicitation restrictions of the
Covenant Agreement; or
(2) You engage in a Violation described in paragraph 7(c)(1) (willful misconduct) or any
other Violation (e.g. you disclose Cigna company Confidential Information in violation
of the Covenant Agreement) at any time.
(c) The Payment requirement applies only to the parts of the Option, if any, that you exercise during
the 24-month period prior to the date of your Termination of Employment and thereafter.
“Payment” means the amount equal to:
(1) the number of Shares you acquire when you exercise the Option;
multiplied by
(2) the excess of (A) the Fair Market Value on the date you exercise the Option over (B) the
Option Price;
plus
(3) the total amount of all dividends, if any, paid on those Shares through the date of the
Payment.
(d) Cigna will recover the Payment from you by any means permitted by applicable law, at the sole
discretion of Cigna management, including but not limited to any or all of the following methods:
(1) If you have any Shares in a Stock Account or in any other account in book-entry form
when a Violation occurs, Cigna will take back from you the whole number of Shares that
has a total Fair Market Value as of the date of the Violation up to, but not more than, the
Payment amount.
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13. Acceptance
If you disagree with any of these Terms and Conditions, or the terms and conditions of the
Covenant Agreement, YOU MUST NOT ACCEPT THE OPTION GRANT. If you sign the Option
grant or the Covenant Agreement, or acknowledge your acceptance electronically or otherwise, you will
be:
(a) Agreeing to all the terms and conditions of the Option grant and of the Covenant Agreement,
including the Inventions provision in paragraph 7(b) and all of the Promises;
(b) Warranting and representing to Cigna that you are, and will remain, in full compliance with all
applicable terms and conditions;
(c) Authorizing Cigna to recover the Payment described in paragraph 8 and to seek any other
available remedy pursuant to the Covenant Agreement if you engage in a Violation; and
(d) Appointing Cigna as your agent and attorney-in-fact to secure rights with respect to Inventions if
unable to obtain your signature as described in paragraph 9.
K916ORC6
ACCEPTED
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EXHIBIT J
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Cigna Corporation
Cigna Corporation (“Cigna”) has granted you the number of strategic performance shares set forth
below in this Strategic Performance Share Grant Agreement (“Strategic Performance Share Grant”
or “Grant”) under the Cigna Long-Term Incentive Plan (“Plan”). The date of your Strategic
Performance Share Grant (“Grant Date”) is also indicated below. The award is subject to the
provisions of the Plan and the Terms and Conditions below.
The award of Shares pursuant to this Strategic Performance Share Grant is expressly conditioned
on your acceptance of the terms and conditions of this Grant and of the attached Confidentiality,
Non-Competition and Non-Solicitation Agreement (or with respect to Cigna company employment
in California, the attached Confidentiality and Non-Solicitation Agreement) (as applicable, the
“Covenant Agreement”). You should carefully read all the terms and conditions of this Strategic
Performance Share Grant and the attached Covenant Agreement and be sure you understand what
they say and what your responsibilities and obligations are before you click on the ACCEPT
button to acknowledge and agree to this Grant.
If you are not willing to agree to all of the Grant and Covenant Agreement terms and conditions, do
not accept the Grant and do not click the ACCEPT button for the Strategic Performance Share
Grant Acknowledgment and Agreement. If you do not accept the Grant, you will not receive the
benefits of the Grant.
If you do click on the ACCEPT button, you are accepting and agreeing to all of the terms and
conditions of this Strategic Performance Share Grant and the Covenant Agreement, which include,
among other things, restrictive covenants such as non-competition, customer and employee non-
solicitation and non-disclosure provisions and litigation cooperation and intellectual property
assignment and assistance provisions.
Vesting Schedule
Shares Granted Approximate
Vest Date
100% of Shares Granted 03/06/2023
Please Note: The date shown in the Vesting Schedule chart above is not your actual vesting date.
It is an approximation of the expected vesting date and is provided due to systems requirements. In
accordance with the Terms and Conditions of your Strategic Performance Share Grant, the actual
vesting date will be determined by the People Resources Committee of the Board of Directors.
In addition to this Strategic Performance Share Grant and the attached Covenant Agreement, you
should also read the Plan Document and Key Contacts and Reference Materials document (attached
to the Plan) and indicate that you have done so and agree to the terms of all documents attached to
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this Grant by checking the appropriate box in the online grant acceptance process. The Key
Contacts and Reference Materials document contains information on how to get important award
information (such as the Plan Prospectus, Tax Considerations and Cigna's Securities Transactions
and Insider Trading Policy) and whom to contact if you have questions.
Please be aware that the Cigna Securities Transactions and Insider Trading Policy places
restrictions on your transactions in Cigna securities and requires certain Cigna employees to obtain
advance permission from the Corporate Secretary before executing transactions in Cigna securities.
If you have questions about your award, please contact Cigna Shareholder Services by email at
shareholderservices@cigna.com or by phone at 215.761.3516.
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Scroll down for the TERMS AND CONDITIONS of the Strategic Performance Share Grant.
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These Terms and Conditions are an important part of your grant of Strategic Performance Shares
from Cigna Corporation (Cigna). The terms of your Strategic Performance Share grant are in: (a)
the electronic Strategic Performance Share Grant Agreement above, (b) these Terms and
Conditions (including Schedule I), (c) the Covenant Agreement, and (d) the Cigna Long-Term
Incentive Plan (Plan).
Certain words in this document with first letters capitalized are defined in the Strategic
Performance Share Grant Agreement above, these Terms and Conditions or Article 2 of the Plan.
This grant is void if you are not an employee of Cigna or a Subsidiary (a Cigna company) on the
Grant Date.
(b) Notwithstanding paragraph 4(a) and subject to paragraph 4(c) and paragraph 3, if your
Termination of Employment is before the Payment Date:
(1) Your Performance Shares will vest upon your Termination of Employment if it is
Upon a Change of Control. If your Performance Shares vest under this paragraph
4(b)(1), the Shares Earned Percentage shall be the greatest of:
(a) 100%;
(b) The Shares Earned Percentage for the Performance period that ended
immediately before your Termination upon a Change of Control; or
(c) The average of the Shares Earned Percentages established by the Committee for
the last two Performance Periods that ended before your Termination upon a
Change of Control.
Whether there is a Termination Upon a Change of Control for purposes of this Strategic
Performance Share grant is determined by reference to a Change of Control (as defined in
the Plan) of the entity issuing this grant (Cigna Corporation) and not by reference to a
Change of Control of any predecessor entity of Cigna Corporation.
(2) Your Performance Shares will vest upon your Termination of Employment if it is
due to your death. If your Performance Shares vest under this paragraph 4(b)(2),
the Shares Earned Percentage shall be 100%.
(3) Your Performance Shares will vest upon your Termination of Employment if it is
due to your Disability.
(4) Your Performance Shares may vest upon your Termination of Employment if it is
due to your Early Retirement or Retirement and if the Committee or its designee
(including Cigna’s Senior Human Resources Officer) approves the early vesting
before your Termination of Employment. If you want to be considered for early
vesting when you retire, you must ask your manager or human resources
representative far enough in advance of your retirement so there is time to process
your request.
(c) You must comply in all respects with the terms and conditions of this Grant and the
Covenant Agreement.
5. Payment
(a) Except as provided in paragraph 5(b), below, your vested Shares Earned under this grant
will be paid in the year following the close of the Performance Period on the date within
such year specified by the Committee (Payment Date).
(b) Any Performance Shares that vest on account of your death will be paid during the 90 day
period immediately following your death to your estate.
(c) For each Share Earned that vests, Cigna will make payment by issuing one Share as of the
Payment Date. Until the Shares are issued to you, you will not be a Cigna shareholder, not
have the right to vote the Shares, and not receive actual dividends.
6. Taxes
Section 16.7 of the Plan shall apply to any tax withholding that may be required by law for
Performance Shares or Shares. Upon the vesting or payment of any Performance Share, Cigna
reserves the right to withhold enough newly-issued Shares to cover all or part of any applicable tax
withholding.
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8. Conditions of Grant
(a) By accepting the grant, you are agreeing:
(1) to the Inventions provision in paragraph 8(b);
(2) to the restrictions contained in the attached Covenant Agreement and in paragraph
8(c)(2) below (such restrictions collectively, the “Promises”);
(3) to notify Cigna if you accept an offer to perform services for any individual or
entity while you are subject to the non-competition Promise under the Covenant
Agreement. Such notice shall be provided by email to Cigna Shareholder Services
(shareholderservices@Cigna.com) within 10 days of your acceptance of the offer
and shall identify the individual or entity and your anticipated start date;
(4) to disclose the terms of the Promises (including, without limitation, the Promises
related to non-solicitation and non-competition) and the consequences of a
Violation (as defined below) to any individual or entity for whom you perform
services during the 12 month period immediately following your Termination of
Employment; and
(5) not to engage in any activity that would constitute a Violation (as defined below).
You understand and agree that the conditions of the grant set forth in this paragraph 8(a)
are a material part of the inducement for Cigna's granting you the Performance Shares and
essential pre-conditions to your eligibility to exercise any rights associated with the Grant
and retain any benefit from the vesting of the Performance Shares and issuance of the
Shares.
The award of Shares pursuant to this Strategic Performance Share Grant is expressly
conditioned on your acceptance of the terms and conditions of this Grant and of the
attached Covenant Agreement. If you decide to accept this Strategic Performance Share
Grant, you are accepting and agreeing to all of the terms and conditions of this Grant and
of the attached Covenant Agreement, which include, among other things, restrictive
covenants such as non-competition, customer and employee non-solicitation and non-
disclosure provisions and litigation cooperation and intellectual property assignment and
assistance provisions.
You should review the terms of this Grant and the Covenant Agreement carefully to ensure
that you understand what they say and what your responsibilities and obligations are
before you click on the accept button to acknowledge and agree to this Grant.
(b) Inventions
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(1) You hereby assign and promise to assign to Cigna companies or their designee, all
your right, title, and interest in and to any and all current and future Inventions. You
acknowledge that all original works of authorship which you make (whether alone or
jointly with others) within the scope of your Cigna company employment and which are
protectable by copyright are “works made for hire,” as defined in the United States
Copyright Act.
(2) You agree to (i) maintain and make available adequate current records, including
electronic records, notes, sketches and drawings, of all Inventions you make, and (ii)
disclose such Inventions in writing upon request. These records will remain the property of
Cigna companies.
(3) If in the course of your Cigna company employment, you incorporate a Prior
Invention into any Cigna company work product, you grant Cigna companies a
nonexclusive, royalty-free, irrevocable, perpetual, worldwide license to use the Prior
Invention as part of or in connection with the work product. Within 45 days after the date
of this grant, you agree to notify Cigna Shareholder Services
(shareholderservices@Cigna.com) of any Prior Inventions that you are not assigning under
this paragraph 8(b).
(4) “Inventions” means any and all inventions, original works of authorship,
developments, concepts, sales methods, improvements, trade secrets, or similar intellectual
property, whether or not patentable or registrable under copyright or similar laws, that
relate to any Cigna company’s current or proposed business, work products or research and
development which you have or will solely or jointly conceive, develop, reduce to practice,
or fix during your Cigna company employment.
(5) “Prior Inventions” means all inventions, original works of authorship,
developments, concepts, sales methods, improvements, trade secrets or similar intellectual
property, whether or not patentable or registrable under copyright or similar laws, that
relate to any Cigna company’s current or proposed business, work products or research and
development which you conceived, developed, reduced to practice or fixed before your
Cigna company employment and which belong to you.
(c) Violation
You will engage in a “Violation” if, directly or indirectly, you engage in any willful
misconduct as described in paragraph 8(c)(1) below or you break any of the “Promises”.
(1) Willful Misconduct:
(A) You have a Termination of Employment initiated by a Cigna company
because you engaged in conduct that constitutes a gross violation of
Cigna's Code of Ethics and Principles of Conduct or other employment
policies.
(B) You do anything else while an employee of any Cigna company that is not
discovered by the company until after your Termination of Employment
and that would, if you had still been employed at the time of the discovery,
be reason for your Termination of Employment for willful misconduct, as
described above.
(2) Promise to Assist with Patent and Copyright Registrations:
(A) You Promise that, during your Cigna company employment and after your
Termination of Employment, you will assist Cigna companies, should they
request and at Cigna's expense, to secure their rights (including any
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(d) Cigna will recover the Payment from you by any means permitted by applicable law, at the
sole discretion of Cigna management, including but not limited to any or all of the
following methods:
(1) If you have any Shares in a Stock Account or in any other account in book-entry
form when a Violation occurs, Cigna will take back from you the whole number of
Shares that has a total Fair Market Value as of the date of the Violation up to, but
not more than, the Payment amount.
(2) Cigna will, to the extent permitted by applicable law, reduce:
(A) The amount of any payments that any Cigna company owes you for any
reason (including without limit any payments owed to you under any
nonqualified retirement, deferred compensation or other plan or
arrangement) by
(B) The Payment amount.
This reduction will not occur until the date a future payment to you is due.
(3) Cigna will send you a written notice and demand for all or part of any Payment
amount. Within 30 days after you receive that notice and demand, you must make
the Payment to Cigna.
13. Arbitration
Except as otherwise provided in the Covenant Agreement, if you have an agreement with Cigna to
arbitrate employment-related disputes, you agree to resolve any disputes relating to this Strategic
Performance Share Grant through arbitration.
14. Acceptance
If you disagree with any of these Terms and Conditions, or the terms and conditions of the
Covenant Agreement, YOU MUST NOT ACCEPT THE STRATEGIC PERFORMANCE
SHARE GRANT. If you sign the Strategic Performance Share grant, or the Covenant Agreement,
or acknowledge your acceptance electronically or otherwise, you will be:
(a) Agreeing to all the terms and conditions of the Strategic Performance Share grant and of
the Covenant Agreement, including the Inventions provision in paragraph 8(b) and all of
the Promises;
(b) Warranting and representing to Cigna that you are, and will remain, in full compliance
with all applicable terms and conditions;
(c) Authorizing Cigna to recover the Payment described in paragraph 9 and to seek any other
available remedy pursuant to the Covenant Agreement, if you engage in a Violation; and
(d) Appointing Cigna as your agent and attorney-in-fact to secure rights with respect to
Inventions if unable to obtain your signature as described in paragraph 10.
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Schedule I to
Terms and Conditions of 2020 Grants
of Strategic Performance Shares
For Performance Period 2020-2022
“Shares Awarded” is the number of Performance Shares granted to an eligible employee for the
Performance Period. Shares Awarded are allocated at time of grant to the two weighted
performance measures (the “Performance Measure Components”) as follows: 50% to Total
Shareholder Return and 50% to Earnings Per Share Growth.
“Shares Earned” is determined after the end of the three-year Performance Period. Shares Earned
will range from 0% to 200% of the Shares Awarded, and the actual number of Shares Earned will
depend on the degree to which Cigna achieves the goals set at time of grant for each Performance
Measure Component, as described below under Compensation Determination, and the PRC’s
exercise of downward discretion, if applied.
Performance Measurement
The two Performance Measure Components for the 2020-2022 Performance Period are:
Cigna's Total Shareholder Return (TSR) relative to a peer group of industry competitors,
and
Earnings Per Share Growth for the ongoing businesses.
The formulas described below under Compensation Determination will be used to determine the
Shares Earned Percentage (called the Vesting Percentage in the Cigna Long-Term Incentive Plan).
The determination is made separately for each set of Shares Awarded that is allocated to a
Performance Measure Component. The formula for each Performance Measure Component
includes a minimum performance threshold, below which the Shares Earned Percentage for that
Performance Measure Component will be zero. In addition, the PRC has complete discretion to
apply its judgment to the results generated by the formula for the TSR Performance Measure
Component and make adjustments downward, as far down as 0%, in the Shares Earned Percentage.
For the Earnings Per Share component, the PRC will consider the CEO’s recommendation and
determine the Shares Earned percentage within the range of the applicable performance tier.
The PRC also has the right to adjust or change completely, in its sole discretion, the Performance
Measures and/or the formulas for calculating the Shares Earned percentages if Cigna or one of the
designated Peer Group companies is involved in any material merger, acquisition or divestiture
during the Performance Period.
For the Total Shareholder Return Component, the designated industry competitors (the Peer Group)
for the 2020-2022 Performance Period are: AmerisourceBergen, Anthem, Cardinal Health,
Centene, CVS, Humana, McKesson, UnitedHealth, and Walgreens Boots. These companies were
determined to be Cigna's publicly-traded peers based upon business mix and other factors.
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Compensation Determination
The compensation to be paid for each SPS award (that is, the Shares Earned) is determined in a
three-step process.
In determining the Shares Earned Percentage for the Total Shareholder Return Component,
relative TSR is measured against five percentage ranges of Shares Earned, at each of the
25th, 50th, 75th and 85th relative percentile rankings, and then using straight line
interpolation based on Cigna's three-year TSR for the 2020-2022 Performance Period
within the relevant percentage range to determine Shares Earned for the TSR measure.
Cigna’s TSR performance relative to TSR performance of the Peer Group companies will
determine which percentage range will be used to calculate the Shares Earned percentage.
The three-year TSR is the compound annual growth rate in share price over three years,
with dividends treated as reinvested.
In determining the Shares Earned Percentage for the TSR Component, the matrix below
will be used. Any Peer Group company that is no longer a stand-alone company at the end
of the Performance Period will not be included in the calculation. As indicated in the
matrix, the relative TSR Target is the 50th percentile, and the Threshold relative TSR
(below which no value will be allocated to the TSR component) is the 25th percentile.
* The Shares Earned percentage within a defined relative TSR percentage range of achievement is
determined using straight line interpolation based on Cigna's actual TSR performance; however,
there are no Shares Earned for performance below the 25th percentile.
In determining the Shares Earned Percentage for the Earnings Per Share Growth
Component, the following matrix will be used. Management will make a recommendation
to the PRC regarding the Shares Earned within the range. It is important to note that the
maximum Shares Earned for each performance level is the top end of the range, but the
PRC has downward discretion in each level to adjust the component value down to the
lowest percentage of the range.
The number of Shares Awarded to an award recipient for the Performance Period that was
allocated to each Performance Measure Component is multiplied by the approved Shares
Earned Percentage for that Component as follows:
The number of Shares Earned for each Performance Measure Component are added together to
determine total number of Shares Earned by the award recipient for the Performance Period. There
will not be any fractional Shares Earned; the number of Shares Earned will be rounded following
normal rounding rules. The total number of Shares Earned cannot exceed 200% of the Shares
Awarded.
K916OYUU
ACCEPTED
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EXHIBIT K
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Cigna Corporation
Cigna Corporation (“Cigna”) has granted you the number of shares of restricted stock of Cigna set
forth below in this Restricted Stock Grant Agreement (“Restricted Stock Grant” or “Grant”) under
the Cigna Long-Term Incentive Plan (“Plan”). The date of your Restricted Stock Grant (“Grant
Date”) and the dates on which your Grant is scheduled to vest (“Vesting Dates”) are also indicated
below. The award is subject to the provisions of the Plan and the Terms and Conditions below.
You should carefully read all the terms and conditions of this Restricted Stock Grant and be sure
you understand what they say and what your responsibilities and obligations are before you click
on the ACCEPT button to acknowledge and agree to this Grant.
If you are not willing to agree to all of the Grant terms and conditions, do not accept the Grant and
do not click the ACCEPT button for the Restricted Stock Grant Acknowledgment and Agreement.
If you do not accept the Grant, you will not receive the benefits of the Grant.
If you do click on the ACCEPT button, you are accepting and agreeing to all of the terms and
conditions of this Restricted Stock Grant, which include, among other things, restrictive covenants
such as non-competition, customer and employee non-solicitation and non-disclosure provisions
and litigation cooperation and intellectual property assignment and assistance provisions.
Vesting Schedule
Shares Granted Vesting Date
1/3 of the Shares Granted The First Anniversary of the Grant Date
1/3 of the Shares Granted The Second Anniversary of the Grant Date
1/3 of the Shares Granted The Third Anniversary of the Grant Date
You should also read the Plan Document and Key Contacts and Reference Materials document
(attached to the Plan) and indicate that you have done so and agree to the terms by checking the
appropriate box in the online grant acceptance process. The Key Contacts and Reference Materials
document contains information on how to get important stock award information (such as the Plan
Prospectus, Tax Considerations and Cigna's Securities Transactions and Insider Trading Policy)
and whom to contact if you have questions.
Please be aware that the Cigna Securities Transactions and Insider Trading Policy places
restrictions on your transactions in Cigna securities and requires certain Cigna employees to obtain
advance permission from the Corporate Secretary before executing transactions in Cigna securities.
If you have questions about your award, please contact Cigna Shareholder Services by email at
shareholderservices@cigna.com or by phone at 215.761.3516.
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3. Consent to Delaware Courts exercising personal jurisdiction over me in any dispute about the
restrictive covenants.
Scroll down for the TERMS AND CONDITIONS of the Restricted Stock Grant.
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These Terms and Conditions are an important part of your grant of Restricted Stock from Cigna
Corporation (Cigna). The terms of your Restricted Stock grant are in: (a) the electronic Restricted
Stock Grant Agreement above, (b) these Terms and Conditions, and (c) the applicable Plan
provisions.
Certain words in this document with first letters capitalized are defined in the Restricted Stock
Grant Agreement above, these Terms and Conditions or Article 2 of the Plan. This grant is void if
you are not an employee of Cigna or a Subsidiary (a Cigna company) on the Grant Date.
3. Early Vesting
In certain situations your vesting date may be earlier than the Vesting Dates described in paragraph
2:
(a) The Shares will vest upon your Termination of Employment if it is Upon a Change of
Control or due to your death or Disability. Whether there is a Termination Upon a Change
of Control for purposes of this Restricted Stock grant is determined by reference to a
Change of Control (as defined in the Plan) of the entity issuing this grant (Cigna
Corporation) and not by reference to a Change of Control of any predecessor entity of
Cigna Corporation.
(b) The Shares may vest upon your Termination of Employment if:
(1) It is due to your Early Retirement or Retirement; and
(2) The People Resources Committee or its designee (including Cigna’s senior human
resources officer) approves the early vesting before your Termination of
Employment.
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If you want to be considered for early vesting when you retire, you must ask your manager
or human resources representative far enough in advance of your retirement so there is time
to process your request.
5. Taxes at Vesting
When the Shares vest, you must satisfy any required tax withholding obligation. Cigna reserves
the right to withhold enough newly-vested Shares to cover all or part of any applicable tax
withholding. However, if section 83(b) of the U.S. Internal Revenue Code of 1986, as amended,
applies to you and you make a timely election under that provision, you must make an immediate
cash payment to satisfy any required tax withholding obligation.
7. Conditions of Grant
(a) By accepting the grant, you are agreeing:
(1) to the Inventions provision in paragraph 7(b);
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(2) to notify Cigna if you accept an offer to perform services for any individual or
entity while you are subject to the non-competition restriction in paragraph 7(c)(2)
below. Such notice shall be provided by email to Cigna Shareholder Services
(shareholderservices@Cigna.com) within 10 days of your acceptance of the offer
and shall identify the individual or entity and your anticipated start date;
(3) to disclose the terms of the Promises (including, without limitation, your
obligations related to non-solicitation and non-competition below) and the
consequences of a Violation to any individual or entity for whom you perform
services during the 12 month period immediately following your Termination of
Employment; and
(4) not to engage in any Violation described in paragraph 7(c)
You understand and agree that the conditions of grant set forth in this paragraph 7(a) are a
material part of the inducement for Cigna's granting you the Shares and essential pre-
conditions to your eligibility to exercise any rights associated with the Shares and retain
any benefit from the vesting of the Shares.
(b) Inventions
(1) You hereby assign and promise to assign to Cigna companies or their designee, all
your right, title, and interest in and to any and all current and future Inventions. You
acknowledge that all original works of authorship which you make (whether alone or
jointly with others) within the scope of your Cigna company employment and which are
protectable by copyright are “works made for hire,” as defined in the United States
Copyright Act.
(2) You agree to (i) maintain and make available adequate current records, including
electronic records, notes, sketches and drawings, of all Inventions you make, and (ii)
disclose such Inventions in writing upon request. These records will remain the property of
Cigna companies.
(3) If in the course of your Cigna company employment, you incorporate a Prior
Invention into any Cigna company work product, you grant Cigna companies a
nonexclusive, royalty-free, irrevocable, perpetual, worldwide license to use the Prior
Invention as part of or in connection with the work product. Within 45 days after the date
of this grant, you agree to notify Cigna Shareholder Services
(shareholderservices@Cigna.com) of any Prior Inventions that you are not assigning under
this paragraph 7(b).
(4) “Inventions” means any and all inventions, original works of authorship,
developments, concepts, sales methods, improvements, trade secrets, or similar intellectual
property, whether or not patentable or registrable under copyright or similar laws, that
relate to any Cigna company’s current or proposed business, work products or research and
development which you have or will solely or jointly conceive, develop, reduce to practice,
or fix during your Cigna company employment.
(5) “Prior Inventions” means all inventions, original works of authorship,
developments, concepts, sales methods, improvements, trade secrets or similar intellectual
property, whether or not patentable or registrable under copyright or similar laws, that
relate to any Cigna company’s current or proposed business, work products or research and
development which you conceived, developed, reduced to practice or fixed before your
Cigna company employment and which belong to you.
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(c) Violation
You will engage in a “Violation” if, directly or indirectly, you engage in any willful
misconduct as described in paragraph 7(c)(1) below or you break any of the “Promises”.
“Promises” means the promises contained in paragraphs 7(c)(2) through (7) below (the
“Grant Agreement Promises”); provided, however, if you entered into any currently
effective agreement with a Cigna company prior to the Grant Date (not including any
previous equity grants made to you under the Plan) that addresses the same topic covered
by any of the Grant Agreement Promises (including, but not limited to those relating to
non-competition, non-solicitation of employees, non-solicitation of customers, confidential
information, cooperation, and assistance with patent and copyright registrations) (a “Prior
Agreement”), then “Promises” shall mean the relevant terms of the Prior Agreement with
respect to such topic (the “Prior Agreement Promises”) and a “Violation” will be
determined by reference to the Prior Agreement Promises by Cigna in is sole discretion.
Notwithstanding the foregoing, if the Prior Agreement Promises are limited to a specific
Cigna company, business line, function or role, and you perform services for a different
Cigna company or business line or are in a different function or role, or if you have
broader enterprise wide responsibilities from the time you entered into the Prior
Agreement, then the Grant Agreement Promises shall apply with respect to such topic and
a “Violation” will be determined by reference to the Grant Agreement Promises by Cigna
in is sole discretion.
(1) Willful Misconduct:
(A) You have a Termination of Employment initiated by a Cigna company
because you engaged in conduct that constitutes a gross violation of
Cigna's Code of Ethics and Principles of Conduct or other employment
policies.
(B) You do anything else while an employee of any Cigna company that is not
discovered by the company until after your Termination of Employment
and that would, if you had still been employed at the time of the discovery,
be reason for your Termination of Employment for willful misconduct, as
described above.
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You acknowledge and agree that you have had access to and received
Confidential Information (described in paragraph 7(c)(5)(B) below) and
the above time and geographic restrictions are reasonable and necessary to
protect Cigna's business and Confidential Information.
(C) “Cigna Competitor” means any business that competes directly or
indirectly with any Cigna company’s product or service.
(D) The Promise in paragraph 7(c)(2) not to compete against Cigna companies
after Termination of Employment will not apply and Cigna will not
enforce it with respect to Cigna company employment (i) in California or
(ii) in the case of a Termination of Employment initiated by the Company
or a successor other than a Termination for Cause, in Massachusetts.
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document containing the trade secret information under seal and do not
disclose the trade secret, except pursuant to court order.
(C) “Confidential Information” means any Cigna company trade secrets,
confidential information, or proprietary materials, including but not limited
to customer lists, financial records, marketing plans and sales plans.
(6) Promise to Cooperate With Cigna in Investigations or Litigation:
(A) You Promise that, at any time after your Termination of Employment, you
will cooperate with Cigna in (i) all investigations of any kind, (ii) helping
to prepare and review documents and meeting with Cigna attorneys, and
(iii) providing truthful testimony as a witness or a declarant during
discovery and/or trial in connection with any present or future court,
administrative, agency, or arbitration proceeding involving any Cigna
company and with respect to which you have relevant information.
(B) Cigna agrees that it will reimburse you, upon production of appropriate
receipts and in accordance with Cigna's then existing Business Travel
Reimbursement Policy, the reasonable business expenses (including air
transportation, hotel, and similar expenses) incurred by you in connection
with such assistance. You must present to Cigna for reimbursement all
receipts for those expenses within 45 days after you incur the expenses.
(7) Promise to Assist with Patent and Copyright Registrations:
(A) You Promise that, during your Cigna company employment and after your
Termination of Employment, you will assist Cigna companies, should they
request and at Cigna's expense, to secure their rights (including any
copyrights, patents, trademarks or other intellectual property rights) in or
relating to the Inventions in any and all countries, including by:
(i) disclosing to Cigna Companies all pertinent information and data;
and
(ii) executing all applications, assignments or other instruments
necessary to apply for and obtain these rights and assign them to
Cigna companies.
(d) (1) If you were an Executive Officer (subject to the requirements of Section 16(a) of
the Exchange Act) at any time during the 24-month period before the date of the
Violation, the People Resources Committee will determine whether you engaged
in a Violation and will have the sole discretion to waive your obligation to make
all or any part of the Payment (described in paragraph 8) and to impose conditions
on any waiver.
(2) Otherwise, Cigna's Senior Human Resources Officer, or his or her designee, will
determine whether you engaged in a Violation and will have the sole discretion to
waive your obligation to make all or any part of the Payment and to impose
conditions on any waiver.
(3) Determinations of the People Resources Committee, Cigna's Senior Human
Resources Officer, or his or her designee, will be final and binding on all parties.
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(c) Delaware is a convenient forum for resolving any action by you or Cigna seeking
emergency, temporary or permanent injunctive relief; and
(d) You and Cigna consent to the exercise of personal jurisdiction over the parties by a
Delaware Court in any action by you or Cigna seeking emergency, temporary or permanent
injunctive relief.
13. Arbitration
You agree and understand that:
(a) Except as provided in paragraph 12, any dispute over any of the terms and conditions that
apply to this Restricted Stock grant will be resolved exclusively under the Cigna
Employment Dispute Arbitration Policy and its Rules and Procedures as may be in effect
when the dispute arises;
(b) You are waiving your right to have those disputes decided by a judge or jury in a court of
law, and instead you are agreeing to submit those disputes exclusively to mandatory and
binding final arbitration; and
(c) While you or Cigna may seek emergency, temporary or permanent injunctive relief from a
court in accordance with applicable law, after the court has issued a decision about that
relief, you and Cigna will submit the dispute to final and binding arbitration under the
Cigna Employment Dispute Arbitration Policy pursuant to this paragraph 13.
14. Miscellaneous
(a) If a court of competent jurisdiction determines that any provision of these Terms and
Conditions is unenforceable as written, that provision will be enforceable to the maximum
extent permitted by law and will be reformed by the court to make the provision
enforceable in accordance with Cigna’s intent and applicable law.
(b) Cigna’s failure to enforce any provision of this Restricted Stock grant will not be
interpreted as a waiver of its right to enforce that provision in the future.
15. Acceptance
If you disagree with any of these Terms and Conditions, including those in paragraphs 7, 8, 9
and 10 YOU MUST NOT ACCEPT THE RESTRICTED STOCK GRANT. If you sign the
Restricted Stock grant, or acknowledge your acceptance electronically or otherwise, you will be:
(a) Agreeing to all the terms and conditions of the Restricted Stock grant including the
Inventions provision in paragraph 7(b) and the Promises in paragraph 7(c);
(b) Warranting and representing to Cigna that you are, and will remain, in full compliance
with those terms and conditions;
(c) Authorizing Cigna to recover the Payment described in paragraph 8 and seek an injunction
described in paragraph 9, if you engage in a Violation; and
(d) Appointing Cigna as your agent and attorney-in-fact to secure rights with respect to
Inventions if unable to obtain your signature as described in paragraph 10.
2019 US RSG Grant Agreement (3 Year graded) including Terms and Conditions
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J944T7L0
ACCEPTED
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EXHIBIT L
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Cigna Corporation
Cigna Corporation (“Cigna”) has granted you the option to purchase the number of shares of Cigna
Common Stock set forth below in this Option Grant Agreement (“Option Grant”) under the Cigna Long-
Term Incentive Plan (“Plan”). The date of your Option Grant (“Grant Date”), the dates on which your
Option Grant is scheduled to vest (“Vesting Dates”) and the date on which it is scheduled to expire
(“Expiration Date”) are also indicated below. The award is subject to the provisions of the Plan and the
Terms and Conditions below.
You should carefully read all the terms and conditions of this Option Grant and be sure you understand
what they say and what your responsibilities and obligations are before you click on the ACCEPT button
to acknowledge and agree to this Option Grant.
If you are not willing to agree to all of the Option Grant terms and conditions, do not accept the Option
Grant and do not click the ACCEPT button for the Option Grant Acknowledgment and Agreement. If
you do not accept the Option Grant, you will not receive the benefits of the Option Grant.
If you do click on the ACCEPT button, you are accepting and agreeing to all of the terms and conditions
of this Option Grant, which include, among other things, restrictive covenants such as non-competition,
customer and employee non-solicitation and non-disclosure provisions and litigation cooperation and
intellectual property assignment and assistance provisions.
Vesting Schedule
Options Granted Vesting Date
1/3 of the Options Granted The First Anniversary of the Grant Date
1/3 of the Options Granted The Second Anniversary of the Grant Date
1/3 of the Options Granted The Third Anniversary of the Grant Date
You should also read the Plan Document and Key Contacts and Reference Materials document (attached
to the Plan) and indicate that you have done so and agree to the terms by checking the appropriate box in
the online grant acceptance process. The Key Contacts and Reference Materials document contains
information on how to get important stock award information (such as the Plan Prospectus, Tax
Considerations and Cigna's Securities Transactions and Insider Trading Policy) and whom to contact if
you have questions.
Please be aware that the Cigna Securities Transactions and Insider Trading Policy places restrictions on
your transactions in Cigna securities and requires certain Cigna employees to obtain advance permission
from the Corporate Secretary before executing transactions in Cigna securities.
If you have questions about your award, please contact Cigna Shareholder Services by email at
shareholderservices@cigna.com or by phone at 215.761.3516.
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3. Consent to Delaware Courts exercising personal jurisdiction over me in any dispute about the
restrictive covenants.
Scroll down for the TERMS AND CONDITIONS of the Option Grant.
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These Terms and Conditions are an important part of your grant of a nonqualified stock option (Option)
from Cigna Corporation (Cigna). The terms of your Option are in (a) the electronic Option Grant
Agreement above, (b) these Terms and Conditions and (c) the applicable Plan provisions.
Certain words in this document with first letters capitalized are defined in the Option Grant Agreement
above, these Terms and Conditions or Article 2 of the Plan. This grant is void if you are not an employee
of Cigna or a Subsidiary (a Cigna company) on the Grant Date.
1. The Option
The Option gives you the right to buy a certain number of shares of Cigna Common Stock (Shares)
during the Option Period (described in paragraph 2) at the Option Price. Your Option Grant Agreement
lists the number of Shares and your Option Price. To buy the Shares at the Option Price, you must
exercise the Option.
3. Early Vesting
The Option may vest earlier than the dates listed under paragraph 2(b) as described here. If your
Termination of Employment occurs before the Option vests under paragraph 2, the Option will vest on
your Termination of Employment date, but only if your Termination of Employment is:
(a) Because of your death, Disability, Early Retirement or Retirement and you have not received or
will not be receiving severance pay from any Cigna company (whether under any severance
benefit plan or any contract, agreement or arrangement); or
(b) Upon a Change of Control.
Whether there is a Termination Upon a Change of Control for purposes of this Option Grant is
determined by reference to a Change of Control (as defined in the Plan) of the entity issuing this grant
(Cigna Corporation) and not by reference to a Change of Control of any predecessor entity of Cigna
Corporation.
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severance benefit plan or any contract, agreement or arrangement), then the Option will expire at
5:00 p.m. Philadelphia time on the Expiration Date.
(c) If your Termination of Employment is because of your Early Retirement, and you will not be
receiving severance pay from any Cigna company (whether under any severance benefit plan or
any contract, agreement or arrangement), the Option will expire at 5:00 p.m. Philadelphia time
on:
(1) The earlier of the Expiration Date or the third anniversary of your Termination of
Employment date; or
(2) The Expiration Date if, within six months before your Termination of Employment date,
you were an Executive Officer subject to the requirements of Section 16(a) of the
Securities Exchange Act of 1934 (“Executive Officer”).
(d) If your Termination of Employment is Upon a Change of Control (of Cigna Corporation), the
Option will expire on the earlier of the Expiration Date or ninety (90) days after your Termination
of Employment date.
(e) The Option will expire immediately upon your Termination for Cause.
6. Book-Entry Shares
Cigna (or a custodian appointed by Cigna) will hold any Shares you, your beneficiary or estate acquire
upon exercise of the Option in book-entry form in a Stock Account. That is, a record of Share ownership
will be kept electronically, and you will not risk losing any Share certificates. A Share certificate will be
issued to you only if you ask for one, but not if you have engaged in a Violation (described in paragraph
7(c)).
7. Conditions of Grant
(a) By accepting the grant, you are agreeing:
(1) to the Inventions provision in paragraph 7(b);
(2) to notify Cigna if you accept an offer to perform services for any individual or entity
while you are subject to the non-competition restriction in paragraph 7(c)(2) below. Such
notice shall be provided by email to Cigna Shareholder Services
(shareholderservices@Cigna.com) within 10 days of your acceptance of the offer and
shall identify the individual or entity and your anticipated start date;
(3) to disclose the terms of the Promises (including, without limitation, your obligations
related to non-solicitation and non-competition below) and the consequences of a
Violation to any individual or entity for whom you perform services during the 12
month period immediately following your Termination of Employment; and
(4) not to engage in any Violation described in paragraph 7(c)
You understand and agree that the conditions of grant set forth in this paragraph 7(a) are a
material part of the inducement for Cigna's granting you the Option and essential pre-conditions
to your eligibility to exercise any rights associated with the Option and retain any benefit from
exercising the Option.
(b) Inventions
(1) You hereby assign and promise to assign to Cigna companies or their designee, all your
right, title, and interest in and to any and all current and future Inventions. You acknowledge that
all original works of authorship which you make (whether alone or jointly with others) within the
scope of your Cigna company employment and which are protectable by copyright are “works
made for hire,” as defined in the United States Copyright Act.
(2) You agree to (i) maintain and make available adequate current records, including
electronic records, notes, sketches and drawings, of all Inventions you make, and (ii) disclose
such Inventions in writing upon request. These records will remain the property of Cigna
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companies.
(3) If in the course of your Cigna company employment, you incorporate a Prior Invention
into any Cigna company work product, you grant Cigna companies a nonexclusive, royalty-free,
irrevocable, perpetual, worldwide license to use the Prior Invention as part of or in connection
with the work product. Within 45 days after the date of this grant, you agree to notify Cigna
Shareholder Services (shareholderservices@Cigna.com) of any Prior Inventions that you are not
assigning under this paragraph 7(b).
(4) “Inventions” means any and all inventions, original works of authorship, developments,
concepts, sales methods, improvements, trade secrets, or similar intellectual property, whether or
not patentable or registrable under copyright or similar laws, that relate to any Cigna company’s
current or proposed business, work products or research and development which you have or will
solely or jointly conceive, develop, reduce to practice, or fix during your Cigna company
employment.
(5) “Prior Inventions” means all inventions, original works of authorship, developments,
concepts, sales methods, improvements, trade secrets or similar intellectual property, whether or
not patentable or registrable under copyright or similar laws, that relate to any Cigna company’s
current or proposed business, work products or research and development which you conceived,
developed, reduced to practice or fixed before your Cigna company employment and which
belong to you.
(c) Violation
You will engage in a “Violation” if, directly or indirectly, you engage in willful misconduct as
described in paragraph 7(c)(1) below or you break any of the “Promises”.
“Promises” means the promises contained in paragraphs 7(c)(2) through (7) below (the “Grant
Agreement Promises”); provided, however, if you entered into any currently effective agreement
with a Cigna company prior to the Grant Date (not including any previous equity grants made to
you under the Plan) that addresses the same topic covered by any of the Grant Agreement
Promises (including, but not limited to those relating to non-competition, non-solicitation of
employees, non-solicitation of customers, confidential information, cooperation, and assistance
with patent and copyright registrations) (a “Prior Agreement”), then “Promises” shall mean the
relevant terms of the Prior Agreement with respect to such topic (the “Prior Agreement
Promises”) and a “Violation” will be determined by reference to the Prior Agreement Promises
by Cigna in is sole discretion. Notwithstanding the foregoing, if the Prior Agreement Promises
are limited to a specific Cigna company, business line, function or role, and you perform services
for a different Cigna company or business line or are in a different function or role, or if you have
broader enterprise wide responsibilities from the time you entered into the Prior Agreement, then
the Grant Agreement Promises shall apply with respect to such topic and a “Violation” will be
determined by reference to the Grant Agreement Promises by Cigna in is sole discretion.
(1) Willful Misconduct:
(A) You have a Termination of Employment initiated by a Cigna company because
you engaged in conduct that constitutes a gross violation of Cigna's Code of
Ethics and Principles of Conduct or other employment policies.
(B) You do anything else while an employee of any Cigna company that is not
discovered by the company until after your Termination of Employment and that
would, if you had still been employed at the time of the discovery, be reason for
your Termination of Employment for willful misconduct, as described above.
(2) Promise Not To Compete against Cigna Companies:
(A) If you are in an executive employee role (as classified and determined by Cigna)
on your Termination of Employment date:
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(D) The Promise in paragraph 7(c)(2) not to compete against Cigna companies after
Termination of Employment will not apply and Cigna will not enforce it with
respect to Cigna company employment (i) in California or (ii) in the case of a
Termination of Employment initiated by the Company or a successor other than a
Termination for Cause, in Massachusetts.
present to Cigna for reimbursement all receipts for those expenses within 45 days
after you incur the expenses.
(7) Promise to Assist with Patent and Copyright Registrations:
(A) You Promise that, during your Cigna company employment and after your
Termination of Employment, you will assist Cigna companies, should they
request and at Cigna's expense, to secure their rights (including any copyrights,
patents, trademarks or other intellectual property rights) in or relating to the
Inventions in any and all countries, including by:
(i) disclosing to Cigna Companies all pertinent information and data; and
(ii) executing all applications, assignments or other instruments necessary to
apply for and obtain these rights and assign them to Cigna companies.
(d) (1) If you were an Executive Officer at any time during the 24-month period before the date
of the Violation, the People Resources Committee will determine whether you engaged in
a Violation and will have the sole discretion to waive your obligation to make all or any
part of the Payment (described in paragraph 8) and to impose conditions on any waiver.
(2) Otherwise, Cigna's Senior Human Resources Officer, or his or her designee, will
determine whether you engaged in a Violation and will have the sole discretion to waive
your obligation to make all or any part of the Payment and to impose conditions on any
waiver.
(3) Determinations of the People Resources Committee, Cigna's Senior Human Resources
Officer, or his or her designee, will be final and binding on all parties.
(b) You must immediately make the Payment described in paragraph 8(c) to Cigna in the manner
described in paragraph 8(d) if:
(1) You engage in a Violation described in paragraph 7(c)(2) (compete against Cigna),
7(c)(3) (Solicit or hire Cigna employees) or 7(c)(4) (Solicit Cigna customers), either
while you are a Cigna company employee or within 12 months after your Termination of
Employment; or
(2) You engage in a Violation described in paragraph 7(c)(1) (willful misconduct), 7(c)(5)
(disclose Confidential Information), 7(c)(6) (fail to cooperate), or 7(c)(7) (fail to assist) at
any time.
(c) The Payment requirement applies only to the part of the Option, if any, that you exercise within
the 24-month period ending on the date of the Violation. “Payment” means the amount equal to:
(1) the number of Shares you acquire when you exercise the Option;
multiplied by
(2) the excess of (A) the Fair Market Value on the date you exercise the Option over (B) the
Option Price;
plus
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(3) the total amount of all dividends, if any, paid on those Shares through the date of the
Payment.
(d) Cigna will recover the Payment from you by any means permitted by applicable law, at the sole
discretion of Cigna management, including but not limited to any or all of the following methods:
(1) If you have any Shares in a Stock Account or in any other account in book-entry form
when a Violation occurs, Cigna will take back from you the whole number of Shares that
has a total Fair Market Value as of the date of the Violation up to, but not more than, the
Payment amount.
(2) Cigna will, to the extent permitted by applicable law, reduce:
(A) The amount of any payments that any Cigna company owes you for any reason
(including without limit any payments owed to you under any nonqualified
retirement, deferred compensation or other plan or arrangement) by
(B) The Payment amount.
This reduction will not occur until the date a future payment to you is due.
(3) Cigna will send you a written notice and demand for all or part of any Payment amount.
Within 30 days after you receive that notice and demand, you must make the Payment to
Cigna.
(b) You agree to assume the risks, including the risk that the market price of the Shares may change,
related to delays described in paragraph 11(a):
(1) Between the time you submit an Option exercise form and the time your Option is
actually exercised;
(2) Between the time you ask for any Shares to be sold and the time your Shares are actually
sold; and
(3) Between the time you ask for stock certificates to be delivered to you or your broker and
the time the certificates are delivered.
13. Arbitration
You agree and understand that:
(a) Except as provided in paragraph 12, any dispute over any of the terms and conditions that apply
to this Option grant will be resolved exclusively under the Cigna Employment Dispute
Arbitration Policy and its Rules and Procedures as may be in effect when the dispute arises;
(b) You are waiving your right to have those disputes decided by a judge or jury in a court of law,
and instead you are agreeing to submit those disputes exclusively to mandatory and binding final
arbitration; and
(c) While you or Cigna may seek emergency, temporary or permanent injunctive relief from a court
in accordance with applicable law, after the court has issued a decision about that relief, you and
Cigna will submit the dispute to final and binding arbitration under the Cigna Employment
Dispute Arbitration Policy pursuant to this paragraph 13.
14. Miscellaneous
(a) If a court of competent jurisdiction determines that any provision of these Terms and Conditions
is unenforceable as written, that provision will be enforceable to the maximum extent permitted
by law and will be reformed by the court to make the provision enforceable in accordance with
Cigna’s intent and applicable law.
(b) Cigna’s failure to enforce any provision of this Option grant will not be interpreted as a waiver of
its right to enforce that provision in the future.
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15. Acceptance
If you disagree with any of these Terms and Conditions, including those in paragraphs 7, 8 9, and
10, YOU MUST NOT ACCEPT THE OPTION GRANT. If you sign the Option grant, or
acknowledge your acceptance electronically or otherwise, you will be:
(a) Agreeing to all the terms and conditions of the Option grant including the Inventions provision in
paragraph 7(b) and the Promises in paragraph 7(c);
(b) Warranting and representing to Cigna that you are, and will remain, in full compliance with those
terms and conditions;
(c) Authorizing Cigna to recover the Payment described in paragraph 8 and seek an injunction
described in paragraph 9, if you engage in a Violation; and
(d) Appointing Cigna as your agent and attorney-in-fact to secure rights with respect to Inventions if
unable to obtain your signature as described in paragraph 10.
J944T1WC
ACCEPTED
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EXHIBIT M
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Cigna Corporation
Cigna Corporation (“Cigna”) has granted you the number of strategic performance shares set forth
below in this Strategic Performance Share Grant Agreement (“Strategic Performance Share Grant”
or “Grant”) under the Cigna Long-Term Incentive Plan (“Plan”). The date of your Strategic
Performance Share Grant (“Grant Date”) is also indicated below. The award is subject to the
provisions of the Plan and the Terms and Conditions below.
You should carefully read all the terms and conditions of this Strategic Performance Share Grant
and be sure you understand what they say and what your responsibilities and obligations are before
you click on the ACCEPT button to acknowledge and agree to this Grant.
If you are not willing to agree to all of the Grant terms and conditions, do not accept the Grant and
do not click the ACCEPT button for the Strategic Performance Share Grant Acknowledgment and
Agreement. If you do not accept the Grant, you will not receive the benefits of the Grant.
If you do click on the ACCEPT button, you are accepting and agreeing to all of the terms and
conditions of this Strategic Performance Share Grant, which include, among other things,
restrictive covenants such as non-competition, customer and employee non-solicitation and non-
disclosure provisions and litigation cooperation and intellectual property assignment and
assistance provisions.
Vesting Schedule
Shares Granted Approximate
Vest Date
100% of Shares Granted 03/07/2022
Please Note: The date shown in the Vesting Schedule chart above is not your actual vesting date.
It is an approximation of the expected vesting date and is provided due to systems requirements. In
accordance with the Terms and Conditions of your Strategic Performance Share Grant, the actual
vesting date will be determined by the People Resources Committee of the Board of Directors.
You should also read the Plan Document and Key Contacts and Reference Materials document
(attached to the Plan) and indicate that you have done so and agree to the terms by checking the
appropriate box in the online grant acceptance process. The Key Contacts and Reference Materials
document contains information on how to get important award information (such as the Plan
Prospectus, Tax Considerations and Cigna's Securities Transactions and Insider Trading Policy)
and whom to contact if you have questions.
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Please be aware that the Cigna Securities Transactions and Insider Trading Policy places
restrictions on your transactions in Cigna securities and requires certain Cigna employees to obtain
advance permission from the Corporate Secretary before executing transactions in Cigna securities.
If you have questions about your award, please contact Cigna Shareholder Services by email at
shareholderservices@cigna.com or by phone at 215.761.3516.
3. Consent to Delaware Courts exercising personal jurisdiction over me in any dispute about the
restrictive covenants.
Scroll down for the TERMS AND CONDITIONS of the Strategic Performance Share Grant.
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These Terms and Conditions are an important part of your grant of Strategic Performance Shares
from Cigna Corporation (Cigna). The terms of your Strategic Performance Share grant are in: (a)
the electronic Strategic Performance Share Grant Agreement above, (b) these Terms and
Conditions (including Schedule I), and (c) the Cigna Long-Term Incentive Plan (Plan).
Certain words in this document with first letters capitalized are defined in the Strategic
Performance Share Grant Agreement above, these Terms and Conditions or Article 2 of the Plan.
This grant is void if you are not an employee of Cigna or a Subsidiary (a Cigna company) on the
Grant Date.
(b) Notwithstanding paragraph 4(a) and subject to paragraph 4(c) and paragraph 3, if your
Termination of Employment is before the Payment Date:
(1) Your Performance Shares will vest upon your Termination of Employment if it is
Upon a Change of Control. If your Performance Shares vest under this paragraph
4(b)(1), the Shares Earned Percentage shall be the greatest of:
(a) 100%;
(b) The Shares Earned Percentage for the Performance period that ended
immediately before your Termination upon a Change of Control; or
(c) The average of the Shares Earned Percentages established by the Committee for
the last two Performance Periods that ended before your Termination upon a
Change of Control.
Whether there is a Termination Upon a Change of Control for purposes of this Strategic
Performance Share grant is determined by reference to a Change of Control (as defined in
the Plan) of the entity issuing this grant (Cigna Corporation) and not by reference to a
Change of Control of any predecessor entity of Cigna Corporation.
(2) Your Performance Shares will vest upon your Termination of Employment if it is
due to your death. If your Performance Shares vest under this paragraph 4(b)(2),
the Shares Earned Percentage shall be 100%.
(3) Your Performance Shares will vest upon your Termination of Employment if it is
due to your Disability.
(4) Your Performance Shares may vest upon your Termination of Employment if it is
due to your Early Retirement or Retirement and if the Committee or its designee
(including Cigna’s Senior Human Resources Officer) approves the early vesting
before your Termination of Employment. If you want to be considered for early
vesting when you retire, you must ask your manager or human resources
representative far enough in advance of your retirement so there is time to process
your request.
(c) You must comply in all respects with the terms and conditions of this grant, including
those contained in these Terms and Conditions.
5. Payment
(a) Except as provided in paragraph 5(b), below, your vested Shares Earned under this grant
will be paid in the year following the close of the Performance Period on the date within
such year specified by the Committee (Payment Date).
(b) Any Performance Shares that vest on account of your death will be paid during the 90 day
period immediately following your death to your estate.
(c) For each Share Earned that vests, Cigna will make payment by issuing one Share as of the
Payment Date. Until the Shares are issued to you, you will not be a Cigna shareholder, not
have the right to vote the Shares, and not receive actual dividends.
6. Taxes
Section 16.7 of the Plan shall apply to any tax withholding that may be required by law for
Performance Shares or Shares. Upon the vesting or payment of any Performance Share, Cigna
reserves the right to withhold enough newly-issued Shares to cover all or part of any applicable tax
withholding.
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8. Conditions of Grant
(a) By accepting the grant, you are agreeing:
(1) to the Inventions provision in paragraph 8(b);
(2) to notify Cigna if you accept an offer to perform services for any individual or
entity while you are subject to the non-competition restriction in paragraph 8(c)(2)
below. Such notice shall be provided by email to Cigna Shareholder Services
(shareholderservices@Cigna.com) within 10 days of your acceptance of the offer
and shall identify the individual or entity and your anticipated start date;
(3) to disclose the terms of the Promises (including, without limitation, your
obligations related to non-solicitation and non-competition below) and the
consequences of a Violation to any individual or entity for whom you perform
services during the 12 month period immediately following your Termination of
Employment; and
(4) not to engage in any Violation described in paragraph 8(c)
You understand and agree that the conditions of grant set forth in this paragraph 8(a) are a
material part of the inducement for Cigna's granting you the Performance Shares and
essential pre-conditions to your eligibility to exercise any rights associated with the grant
and retain any benefit from the vesting of the Performance Shares and issuance of the
Shares.
(b) Inventions
(1) You hereby assign and promise to assign to Cigna companies or their designee, all
your right, title, and interest in and to any and all current and future Inventions. You
acknowledge that all original works of authorship which you make (whether alone or
jointly with others) within the scope of your Cigna company employment and which are
protectable by copyright are “works made for hire,” as defined in the United States
Copyright Act.
(2) You agree to (i) maintain and make available adequate current records, including
electronic records, notes, sketches and drawings, of all Inventions you make, and (ii)
disclose such Inventions in writing upon request. These records will remain the property of
Cigna companies.
(3) If in the course of your Cigna company employment, you incorporate a Prior
Invention into any Cigna company work product, you grant Cigna companies a
nonexclusive, royalty-free, irrevocable, perpetual, worldwide license to use the Prior
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Invention as part of or in connection with the work product. Within 45 days after the date
of this grant, you agree to notify Cigna Shareholder Services
(shareholderservices@Cigna.com) of any Prior Inventions that you are not assigning under
this paragraph 8(b).
(4) “Inventions” means any and all inventions, original works of authorship,
developments, concepts, sales methods, improvements, trade secrets, or similar intellectual
property, whether or not patentable or registrable under copyright or similar laws, that
relate to any Cigna company’s current or proposed business, work products or research and
development which you have or will solely or jointly conceive, develop, reduce to practice,
or fix during your Cigna company employment.
(5) “Prior Inventions” means all inventions, original works of authorship,
developments, concepts, sales methods, improvements, trade secrets or similar intellectual
property, whether or not patentable or registrable under copyright or similar laws, that
relate to any Cigna company’s current or proposed business, work products or research and
development which you conceived, developed, reduced to practice or fixed before your
Cigna company employment and which belong to you.
(c) Violation
You will engage in a “Violation” if, directly or indirectly, you engage in any willful
misconduct as described in paragraph 8(c)(1) below or you break any of the “Promises”.
“Promises” means the promises contained in paragraphs 8(c)(2) through (7) below (the
“Grant Agreement Promises”); provided, however, if you entered into any currently
effective agreement with a Cigna company prior to the Grant Date (not including any
previous equity grants made to you under the Plan) that addresses the same topic covered
by any of the Grant Agreement Promises (including, but not limited to those relating to
non-competition, non-solicitation of employees, non-solicitation of customers, confidential
information, cooperation, and assistance with patent and copyright registrations) (a “Prior
Agreement”), then “Promises” shall mean the relevant terms of the Prior Agreement with
respect to such topic (the “Prior Agreement Promises”) and a “Violation” will be
determined by reference to the Prior Agreement Promises by Cigna in is sole discretion.
Notwithstanding the foregoing, if the Prior Agreement Promises are limited to a specific
Cigna company, business line, function or role, and you perform services for a different
Cigna company or business line or are in a different function or role, or if you have
broader enterprise wide responsibilities from the time you entered into the Prior
Agreement, then the Grant Agreement Promises shall apply with respect to such topic and
a “Violation” will be determined by reference to the Grant Agreement Promises by Cigna
in is sole discretion.
(1) Willful Misconduct:
(A) You have a Termination of Employment initiated by a Cigna company
because you engaged in conduct that constitutes a gross violation of
Cigna's Code of Ethics and Principles of Conduct or other employment
policies.
(B) You do anything else while an employee of any Cigna company that is not
discovered by the company until after your Termination of Employment
and that would, if you had still been employed at the time of the discovery,
be reason for your Termination of Employment for willful misconduct, as
described above.
(2) Promise Not To Compete against Cigna Companies:
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(A) If you are in an executive employee role (as classified and determined by
Cigna) on your Termination of Employment date:
You Promise not to become employed by, work as a consultant or
independent contractor for, or in any way render services or assistance to
any Cigna Competitor (defined in paragraph 8(c)(2)(C) below) at any time
during the period that starts on the Grant Date and ends 12 months after
your Termination of Employment.
You acknowledge and agree that:
(i) Cigna's business competes on a global basis;
(ii) Cigna's sales and marketing plans are for continued expansion
throughout the United States of America and globally;
(iii) You have had access to and received Confidential Information
(described in paragraph 8(c)(5)(B) below); and
(iv) The time restrictions and global nature of this non-competition
restriction are reasonable and necessary to protect Cigna's business
and Confidential Information.
(B) If you are not in an executive employee role (as classified and determined
by Cigna) on your Termination of Employment date:
You Promise not to become employed by, work as a consultant or
independent contractor for, or in any way render services or assistance to
any Cigna Competitor (defined in paragraph 8(c)(2)(C) below) at any time
during the period that starts on the Grant Date and ends 12 months after
your Termination of Employment, if that work is similar to, and within the
same geographic area as, the work you performed, or for which you had
responsibility, at any Cigna company at any time during the six-month
period that ends on your Termination of Employment date.
For example:
(i) If you are a sales employee and your sales territory at any time
during your last six months of Cigna company employment is
Pennsylvania, New Jersey, and New York, this paragraph
8(c)(2)(B) would apply to you only if you work in a sales position
for a Cigna Competitor and only to the extent your new sales
territory is Pennsylvania, New Jersey, and/or New York;
(ii) If you are an underwriter with nationwide responsibilities at any
time during your last six months of Cigna company employment,
and you seek a job with a Cigna Competitor as an underwriter, the
restrictions in paragraph 8(c)(2)(B) would be nationwide in scope;
or
(iii) If you work in a particular division or segment of Cigna, you
would not be permitted to work in a similar division or segment
for a Cigna Competitor where the work you are expected to
perform for the competitor is similar to the work you performed
for any Cigna company.
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You acknowledge and agree that you have had access to and received
Confidential Information (described in paragraph 8(c)(5)(B) below) and
the above time and geographic restrictions are reasonable and necessary to
protect Cigna's business and Confidential Information.
(C) “Cigna Competitor” means any business that competes directly or
indirectly with any Cigna company’s product or service.
(D) The Promise in paragraph 7(c)(2) not to compete against Cigna companies
after Termination of Employment will not apply and Cigna will not
enforce it with respect to Cigna company employment (i) in California or
(ii) in the case of a Termination of Employment initiated by the Company
or a successor other than a Termination for Cause, in Massachusetts.
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document containing the trade secret information under seal and do not
disclose the trade secret, except pursuant to court order.
(C) “Confidential Information” means any Cigna company trade secrets,
confidential information, or proprietary materials, including but not limited
to customer lists, financial records, marketing plans and sales plans.
(6) Promise to Cooperate With Cigna in Investigations or Litigation:
(A) You Promise that, at any time after your Termination of Employment, you
will cooperate with Cigna in (i) all investigations of any kind, (ii) helping
to prepare and review documents and meeting with Cigna attorneys, and
(iii) providing truthful testimony as a witness or a declarant during
discovery and/or trial in connection with any present or future court,
administrative, agency, or arbitration proceeding involving any Cigna
company and with respect to which you have relevant information.
(B) Cigna agrees that it will reimburse you, upon production of appropriate
receipts and in accordance with Cigna's then existing Business Travel
Reimbursement Policy, the reasonable business expenses (including air
transportation, hotel, and similar expenses) incurred by you in connection
with such assistance. You must present to Cigna for reimbursement all
receipts for those expenses within 45 days after you incur the expenses.
(7) Promise to Assist with Patent and Copyright Registrations:
(A) You Promise that, during your Cigna company employment and after your
Termination of Employment, you will assist Cigna companies, should they
request and at Cigna's expense, to secure their rights (including any
copyrights, patents, trademarks or other intellectual property rights) in or
relating to the Inventions in any and all countries, including by:
(i) disclosing to Cigna Companies all pertinent information and data;
and
(ii) executing all applications, assignments or other instruments
necessary to apply for and obtain these rights and assign them to
Cigna companies.
(d) (1) If you were an Executive Officer (subject to the requirements of Section 16(a) of
the Exchange Act) at any time during the 24-month period before the date of the
Violation, the People Resources Committee will determine whether you engaged
in a Violation and will have the sole discretion to waive your obligation to make
all or any part of the Payment (described in paragraph 9) and to impose conditions
on any waiver.
(2) Otherwise, Cigna's Senior Human Resources Officer, or his or her designee, will
determine whether you engaged in a Violation and will have the sole discretion to
waive your obligation to make all or any part of the Payment and to impose
conditions on any waiver.
(3) Determinations of the People Resources Committee, Cigna's Senior Human
Resources Officer, or his or her designee, will be final and binding on all parties.
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(3) Cigna will send you a written notice and demand for all or part of any Payment
amount. Within 30 days after you receive that notice and demand, you must make
the Payment to Cigna.
laws rule;
(b) Any action by you or Cigna seeking emergency, temporary or permanent injunctive relief
will be resolved exclusively in a federal or state court in the State of Delaware where venue
is appropriate and that has subject matter jurisdiction over the dispute (collectively,
“Delaware Courts”);
(c) Delaware is a convenient forum for resolving any action by you or Cigna seeking
emergency, temporary or permanent injunctive relief; and
(d) You and Cigna consent to the exercise of personal jurisdiction over the parties by a
Delaware Court in any action by you or Cigna seeking emergency, temporary or permanent
injunctive relief.
14. Arbitration
You agree and understand that:
(a) Except as provided in paragraph 13, any dispute over any of the terms and conditions that
apply to this Strategic Performance Share grant will be resolved exclusively under the
Cigna Employment Dispute Arbitration Policy and its Rules and Procedures as may be in
effect when the dispute arises;
(b) You are waiving your right to have those disputes decided by a judge or jury in a court of
law, and instead you are agreeing to submit those disputes exclusively to mandatory and
binding final arbitration; and
(c) While you or Cigna may seek emergency, temporary or permanent injunctive relief from a
court in accordance with applicable law, after the court has issued a decision about that
relief, you and Cigna will submit the dispute to final and binding arbitration under the
Cigna Employment Dispute Arbitration Policy pursuant to this paragraph 14.
15. Miscellaneous
(a) If a court of competent jurisdiction determines that any provision of these Terms and
Conditions is unenforceable as written, that provision will be enforceable to the maximum
extent permitted by law and will be reformed by the court to make the provision
enforceable in accordance with Cigna’s intent and applicable law.
(b) Cigna’s failure to enforce any provision of this Strategic Performance Share grant will not
be interpreted as a waiver of its right to enforce that provision in the future.
16. Acceptance
If you disagree with any of these Terms and Conditions, including those in paragraphs 8, 9,
10 and 11 YOU MUST NOT ACCEPT THE STRATEGIC PERFORMANCE SHARE
GRANT. If you sign the Strategic Performance Share grant, or acknowledge your acceptance
electronically or otherwise, you will be:
(a) Agreeing to all the terms and conditions of the Strategic Performance Share grant including
the Inventions provision in paragraph 8(b) and the Promises in paragraph 8(c);
(b) Warranting and representing to Cigna that you are, and will remain, in full compliance
with those terms and conditions;
(c) Authorizing Cigna to recover the Payment described in paragraph 9 and seek an injunction
described in paragraph 10, if you engage in a Violation; and
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(d) Appointing Cigna as your agent and attorney-in-fact to secure rights with respect to
Inventions if unable to obtain your signature as described in paragraph 11.
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Schedule I to
Terms and Conditions of 2019 Grants
of Strategic Performance Shares
For Performance Period 2019-2021
“Shares Awarded” is the number of Performance Shares granted to an eligible employee for the
Performance Period. Shares Awarded are allocated at time of grant to the two weighted
performance measures (the “Performance Measure Components”) as follows: 50% to Total
Shareholder Return and 50% to Earnings Per Share Growth.
“Shares Earned” is determined after the end of the three-year Performance Period. Shares Earned
will range from 0% to 200% of the Shares Awarded, and the actual number of Shares Earned will
depend on the degree to which Cigna achieves the goals set at time of grant for each Performance
Measure Component, as described below under Compensation Determination, and the PRC’s
exercise of downward discretion, if applied.
Performance Measurement
The two Performance Measure Components for the 2019-2021 Performance Period are:
Cigna's Total Shareholder Return (TSR) relative to a peer group of industry competitors,
and
Earnings Per Share Growth for the ongoing businesses.
The formulas described below under Compensation Determination will be used to determine the
Shares Earned Percentage (called the Vesting Percentage in the Cigna Long-Term Incentive Plan).
The determination is made separately for each set of Shares Awarded that is allocated to a
Performance Measure Component. The formula for each Performance Measure Component
includes a minimum performance threshold, below which the Shares Earned Percentage for that
Performance Measure Component will be zero. In addition, the PRC has complete discretion to
apply its judgment to the results generated by the formula for the TSR Performance Measure
Component and make adjustments downward, as far down as 0%, in the Shares Earned Percentage.
For the Earnings Per Share component, the PRC will consider the CEO’s recommendation and
determine the Shares Earned percentage within the range of the applicable performance tier.
The PRC also has the right to adjust or change completely, in its sole discretion, the Performance
Measures and/or the formulas for calculating the Shares Earned percentages if Cigna or one of the
designated Peer Group companies is involved in any material merger, acquisition or divestiture
during the Performance Period.
For the Total Shareholder Return Component, the designated industry competitors (the Peer Group)
for the 2019-2021 Performance Period are: AmerisourceBergen, Anthem, Cardinal Health,
Centene, CVS, Humana, McKesson, UnitedHealth, and Walgreens Boots. These companies were
determined to be Cigna's publicly-traded peers based upon business mix and other factors.
15
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Compensation Determination
The compensation to be paid for each SPS award (that is, the Shares Earned) is determined in a
three-step process.
In determining the Shares Earned Percentage for the Total Shareholder Return Component,
Cigna's three-year TSR for the 2019 -2021 Performance Period will be compared against
the three-year TSRs for each member of the Peer Group (to the extent each member has a
TSR for the full three-year period). The three-year TSR is the compound annual growth
rate in share price over three years, with dividends treated as reinvested.
Cigna's TSR will be compared against those of Peer Group members to obtain a percentile
ranking for Cigna's relative TSR. In determining the Shares Earned Percentage for the
TSR Component, the matrix below will be used. Any Peer Group company that is no
longer a stand-alone company at the end of the Performance Period will not be included in
the results. If the Peer Group consolidates or otherwise decreases to fewer than 10, then
Cigna's TSR will be ranked against those of the remaining companies to determine the
Shares Earned Percentage under the matrix.
As indicated in the matrix, the relative TSR Target is the 50th percentile, and the Threshold
relative TSR (below which no value will be allocated to the TSR component) is the 25th
percentile.
* The Shares Earned percentage between defined relative TSR performance points is interpolated;
however, there are no Shares Earned for performance below the 25th percentile. For example, if
Cigna's TSR is at the 66th percentile, under the formula, 148% of shares would be earned.
In determining the Shares Earned Percentage for the Earnings Per Share Growth
Component, the following matrix will be used. Management will make a recommendation
to the PRC regarding the Shares Earned within the range. It is important to note that the
maximum Shares Earned for each performance level is the top end of the range, but the
PRC has downward discretion in each level to adjust the component value down to the
lowest percentage of the range.
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The number of Shares Awarded to an award recipient for the Performance Period that was
allocated to each Performance Measure Component is multiplied by the approved Shares
Earned Percentage for that Component as follows:
The number of Shares Earned for each Performance Measure Component are added together to
determine total number of Shares Earned by the award recipient for the Performance Period. There
will not be any fractional Shares Earned; the number of Shares Earned will be rounded following
normal rounding rules. The total number of Shares Earned cannot exceed 200% of the Shares
Awarded.
J944TEJG
ACCEPTED
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EXHIBIT N
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CIGNA CORPORATION
CONFIDENTIALITY, NON-COMPETITION AND
NON-SOLICITATION AGREEMENT
(a) Employee agrees that all records and Confidential Information obtained by Employee
as a result of Employee’s employment with the Company, whether original, duplicated,
computerized, memorized, handwritten, or in any other form, and all information contained therein
or derived therefrom, are confidential and the sole and exclusive property of the Company.
Employee understands and agrees that the business of the Company and the nature of Employee’s
employment will require Employee to have access to Confidential Information of and about the
Company, its business, its prospects, and its Customers. During Employee’s employment and
thereafter, Employee will not use Confidential Information or remove any such records or
information from the premises or computer systems of the Company except for the sole purpose of
conducting business on behalf of the Company. Employee further agrees that during Employee’s
employment and thereafter, Employee will not, without express consent of the Company, divulge
or disclose this Confidential Information to any third party other than for the purposes of
performing Employee’s job duties with the Company, and under no circumstances will Employee
reveal or permit this information to become known by any competitor of the Company.
(b) Employee agrees not to use or attempt to use any Confidential Information on
behalf of any person or entity other than the Company, or in any manner which may injure or cause
loss or may be calculated to injure or cause loss, whether directly or indirectly, to the Company. If
at any time over the last two years of Employee’s employment with the Company, Employee’s
position included access to Confidential Information as described above, specifically related to the
Company’s procurement of prescription drugs, Employee understands and agrees that Employee’s
subsequent employment with a pharmaceutical manufacturer, distributor or supplier
(“Pharmaceutical Entity”) would create a substantial risk of use and/or disclosure of Confidential
Information with which Employee has been or will be entrusted during Employee’s employment
with the Company. Specifically, Employee agrees that the disclosure of such Confidential
Information to the Company’s pharmacy benefits management competitors with which one may
negotiate in the course of employment with such Pharmaceutical Entity, would cause immediate
and irreparable harm to the Company. In light of this risk of disclosure under such circumstances,
and in recognition of the severity of harm that would result from such disclosure, Employee
acknowledges and agrees that the Company will be entitled to immediate injunctive relief to
prevent Employee from disclosing any such Confidential Information in the course of Employee’s
employment with any such Pharmaceutical Entity.
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(c) During Employee’s employment, Employee shall not make, use, or permit to be
used, any materials of any nature relating to any matter within the scope of the business of the
Company or concerning any of its dealings or affairs other than for the benefit of the Company.
Employee shall not, after the termination of Employee’s employment, use or permit to be used any
such materials and shall return same in accordance with Section 1.2 below.
(d) Employee will promptly notify the Company if Employee becomes aware of or
suspects any unauthorized use or disclosure of Confidential Information by Employee or anyone
else, whether intentional or accidental.
Employee agrees that upon termination of Employee’s employment with the Company or
at the request of the Company at any time, Employee will immediately deliver to the Company all
property of the Company, including without limitation all equipment owned or leased by the
Company, and all documents, information, records, materials, and copies thereof in any form, that
are related in any way to the Company or its business, or which are otherwise referred to in Section
1.1 above and as defined in Section 1.9 below. Employee understands that this includes, but is not
limited to, delivery to the Company of all documents, memoranda, notes, records, data, computer
programs, disks, data contained on hard drives or other computer or electronic storage media, or
reports (and all copies thereof) made or compiled by, delivered to, or otherwise acquired by
Employee concerning, containing or embodying any Confidential Information.
(a) Employee agrees that, during the Restricted Period and in any Restricted Area,
Employee shall not, directly or indirectly by assisting, provide services to a Competitor of the
Company. Employee’s agreement not to provide such services to a Competitor applies regardless
of whether Employee does so as an employee, owner, partner, principal, advisor, independent
contractor, consultant, agent, officer, director, investor, or shareholder. Notwithstanding the
foregoing, Employee’s ownership of less than 1% of the outstanding shares of a publicly traded
company that constitutes a Competitor shall not be deemed to be providing services to such
Competitor solely by virtue of owning such shares.
(b) Employee agrees that during the Restricted Period, Employee shall not, directly or
indirectly, work on a Company account on behalf of a Customer or Business Partner or serve as the
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(c) During the Restricted Period, if a representative of the Company requests that
Employee identify the company or business to which Employee will be or is providing services, or
with which Employee will be or is employed, and requests that Employee provide information
about the services that Employee is or will be providing to such entity, Employee shall provide the
Company with a written statement containing such information with sufficient detail to allow the
Company to independently assess whether Employee is or will be in violation of this Agreement.
Such statement shall be delivered to the Company's senior director of Executive Compensation or
his or her authorized delegate via personal delivery, email or overnight delivery within five calendar
days of Employee’s receipt of such request.
(d) Notwithstanding the foregoing, where applicable, this Section 1.3 will apply only
to the extent permissible under (i) the ABA Model Rules of Professional Conduct’s provisions
regarding restrictions on the right to practice law, and/or (ii) any applicable state counterpart
similarly addressing restrictions on the right to practice law.
(a) Employee acknowledges that the Company has a legitimate protectable interest in
maintaining a stable and undisrupted workforce. Employee agrees that during the Restricted Period,
Employee will not, directly or indirectly, on behalf of himself/herself, or on behalf of any other
person, entity, or organization, employ, solicit for employment, recruit, or otherwise seek to employ
or retain the services of any employee or contractor of the Company, or in any way assist or
facilitate any such employment, solicitation, or retention effort.
(b) Employee agrees that during the Restricted Period, Employee shall not, directly or
indirectly, engage in any conduct intended or reasonably calculated to induce or urge any employee
or contractor of the Company to discontinue, in whole or in part, his/her employment relationship
or engagement with the Company.
(c) The restrictions in this Section apply only to those employees or contractors of the
Company with whom Employee worked or whom Employee supervised or about whom Employee
obtained non-public information, in each case at any time during the twenty-four months preceding
termination of Employee’s employment with the Company.
(i) During the Restricted Period, Employee shall not, directly or indirectly,
solicit any Customer or Business Partner for the purpose of (A) providing or selling services or
goods and products of a nature being provided or sold by the Company, or (B) entering into or
seeking to enter into any contract or other arrangement with any Customer or Business Partner for
the performance or sale of services or goods and products of a nature being provided or sold by the
Company. Employee’s agreement “not to solicit” as set forth in this Section 1.5(a) means that
Employee will not, directly or indirectly, initiate any contact or communication with any Customer
or Business Partner for the purpose of soliciting, inviting, encouraging, recommending or
requesting any Customer or Business Partner to do business with Employee and/or a Competitor in
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connection with the performance or sale of services or goods and products of a nature being
provided or sold by the Company or take a position where Employee would likely engage in such
prohibited solicitation.
(ii) During the Restricted Period, Employee shall not, directly or indirectly,
engage in any conduct intended or reasonably calculated to induce or urge any Customer or
Business Partner to discontinue, in whole or in part, its patronage or business relationship with the
Company.
(iii) During the Restricted Period, Employee shall not, directly or indirectly,
accept any business from, provide services to, or do any business with, any Customer or Business
Partner in connection with the performance or sale of services or goods and products of a nature
being provided or sold by the Company.
(a) In the event that Employee breaches or threatens to breach, or the Company
reasonably believes Employee is about to breach, any of the restrictive covenants in this
Agreement, the Company will be entitled to injunctive relief as well as an equitable accounting of
all earnings, profits and other benefits arising from violation of this Agreement, which rights shall
be cumulative and in addition to any other rights or remedies to which the Company may be entitled
in law or equity. Employee agrees that the Company will suffer immediate and irreparable harm
and that money damages will not be adequate to compensate the Company or to preserve the status
quo. Therefore, Employee hereby consents to the issuance of a temporary restraining order and
other injunctive relief necessary to enforce this Agreement.
(b) Employee hereby agrees that the duration of any injunction shall be increased in
an amount equal to any period of time during which Employee failed to comply with the covenants
contained in this Agreement.
(c) Employee and the Company agree that any application for temporary restraining
order and/or temporary or preliminary injunctive relief shall be adjudicated exclusively in a court
of competent jurisdiction, even if Employee and the Company are parties to an arbitration
agreement that otherwise includes disputes under this Agreement. Employee agrees that the
injunctive relief to which Employee consents hereinabove, under the circumstances addressed in
this Section 1.6(c), shall be granted by a court of competent jurisdiction pending arbitration on the
merits in order to preserve the status quo pending such arbitration.
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(d) Employee agrees that in any proceeding alleging breach of this Agreement
(whether in court or in arbitration), the Company and Employee each shall have the right to engage
in deposition and document discovery, and the Company shall have the right to conduct forensic
examination(s) of any computers and/or electronic devices in Employee’s possession or control, if
the Company reasonably believes such devices contain Confidential Information or other Company
property. The Company and Employee further agree that in connection with any application for
injunctive relief to enforce this Agreement (including without limitation any application for
temporary and/or preliminary injunctive relief), the foregoing discovery shall be conducted on an
expedited basis, including expedited document and deposition discovery.
(e) If any dispute under this Agreement is subject to resolution by arbitration under an
agreement or program agreed to by Employee and the Company, Employee understands and agrees
that Employee’s agreement to engage in expedited discovery as outlined in Section 1.6(d) is an
essential term of the parties’ arbitration agreement, and these provisions are intended to supplement
and modify any applicable arbitration rules which may be incorporated into any arbitration
agreement that is applicable to the dispute. Accordingly, Employee and the Company request that
any court of competent jurisdiction order such expedited discovery in order to enforce the parties’
arbitration agreement as written and in accordance with its terms.
Employee agrees that Employee will tell any prospective new employer, partner in a
business venture, investors and/or any entity seeking to engage Employee’s services, prior to
accepting employment, engagement as a consultant or contractor, or engaging in a business venture,
that this Agreement exists, and further, Employee agrees to provide a true and correct copy of this
Agreement to any such individual or entity prior to accepting any such employment or entering
into any such engagement or business venture. Employee further authorizes the Company to
provide a copy of this Agreement to any such entity(ies) or individual(s).
If any section, provision, paragraph, phrase, word, and/or line (collectively “Provision”) of
this Agreement is held to be unenforceable, then this Agreement will be deemed amended to the
extent necessary to render the otherwise unenforceable Provision, and the rest of the Agreement,
valid and enforceable. If a court declines to amend this Agreement as provided herein, the invalidity
or unenforceability of any Provision of this Agreement shall not affect the validity or enforceability
of the remaining Provisions, which shall be enforced as if the offending Provision had not been
included in this Agreement.
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“Competitor” means any person, entity or organization engaged (or about to become
engaged or preparing to become engaged) in a business similar to, or that competes with, the
business of the Company, including without limitation any person or organization that provides
any product or service that is similar to or competes with any product or service which has been
offered or provided by the Company at any time during the twenty-four months preceding
Employee’s termination of employment. The term “Competitor” specifically includes without
limitation any person, entity or organization that provides any of the following:
(i) pharmacy benefits management ("PBM"), including: (a) the administration of pharmacy
benefits for businesses, government agencies and health plans; (b) mail order pharmacy; (c)
specialty pharmacy; (d) prescription drug claims processing or formulary development or
administration; (e) the procurement of prescription drugs at a negotiated rate for dispensing;
and (f) Medicare Part D services;
(ii) pharmaceutical products and ancillary services, including specialty pharmaceutical products
and support services and the provision of related pharmacy consulting, data management
services and medical supplies;
(iv) insurance ("Insurance") including: (a) health, medical, dental, life, travel and accident
insurance coverages, plans, programs, products and services; (b) managed health care products
and services; (c) dental, vision, workers' compensation and employee assistance program products
and services; (d) wellness products and services to employers, government agencies, health plans,
other businesses or third party payers; (e) supplemental insurance products and services; (f)
administrative services provided to benefit plans; and/or (g) other voluntary products that are
excepted benefits under HIPAA;
(vi) medical benefits management (“MBM”), including: (a) the design or commercialization of
software that uses natural language processing or clinical judgment to perform clinical order
appropriateness determination; (b) risk adjustment/medical coding; (c) clinical registry
reporting services; (d) prospective healthcare utilization management review; and (e)
utilization review or other management services relating to, or assumption of financial risk
(including insurance risk) with respect to any clinical or other area entered into by the
Company during the period of Employee’s employment;
(vii) behavioral health, care delivery, and care enablement products and services, including primary
home care, worksite care, and virtual care products and services;
(viii) health care related data and advanced analytics and applied innovation products and services;
(x) audit reviews or other consulting or advisory services with respect to any relationship between
the Company and any third party, including its customers, vendors, suppliers and drug
manufacturers, as to a subject matter which is the same as or similar to subject matters with
respect to which Employee provided services to the Company during the last twenty-four
months of Employee’s employment with the Company, or about which Employee had access
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(xi) any other product or service the Company was actively preparing to offer or provide during
the last twenty-four months of Employee’s employment with the Company.
“Restricted Area” refers to (i) those states, districts and territories of the United States in
which the Company conducts its business; and (ii) any other countries in which the Company
conducts its business.
“Restricted Period” refers to the duration of Employee’s employment with the Company,
plus the two-year period immediately following the termination of Employee’s employment with
the Company for any reason.
(a) This Agreement will be governed by, construed, interpreted, and its validity
determined under the law of the State, Province or Territory of Employee’s last assigned work
location for the Company, without regard to such jurisdiction’s conflicts of laws principles. Such
law shall govern regardless of the court or arbitration forum in which a dispute may be adjudicated.
(b) Employee and the Company agree that the exclusive and mandatory venue for
adjudicating any disputes under this Agreement shall be the federal court or state (or provincial or
territorial, as the case may be) court having original jurisdiction for the location in which Employee
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last worked for the Company. Employee and the Company hereby consent to jurisdiction in such
court for such purpose, and Employee consents to service of process by mail in respect of any such
suit, action or proceeding. Employee and the Company further agree not to file any action relating
in any way to this Agreement in any court other than as specified in this Section. Notwithstanding
any of the foregoing, if any dispute under this Agreement is subject to resolution by arbitration
under an agreement or program agreed to by Employee and the Company, then such arbitration
shall be the sole and exclusive venue for adjudicating such disputes, other than any requests for a
temporary restraining order and/or a temporary or preliminary injunction pending arbitration,
which are reserved exclusively for adjudication in court pursuant to Section 1.6 above even in
otherwise arbitrable disputes.
(a) In the event Employee receives a subpoena, deposition notice, interview request, or
other process or order to testify or produce Confidential Information or any other information or
property of the Company, Employee shall promptly: (i) notify the Company of the item, document,
or information sought by such subpoena, deposition notice, interview request, or other process or
order; (ii) furnish the Company with a copy of said subpoena, deposition notice, interview request,
or other process or order; and (iii) provide reasonable cooperation with respect to any procedure
that the Company may initiate to protect Confidential Information or other interests. If the
Company objects to the subpoena, deposition notice, interview request, process, or order, Employee
shall cooperate to ensure that there shall be no disclosure until the court or other applicable entity
has ruled upon the objection, and then only in accordance with the ruling so made. If no such
objection is made despite a reasonable opportunity to do so, Employee shall be entitled to comply
with the subpoena, deposition, notice, interview request, or other process or order provided that
Employee has fulfilled the above obligations.
(b) Employee will cooperate fully with the Company, its affiliates, and their legal
counsel in connection with any action, proceeding, or dispute arising out of matters with which
Employee was directly or indirectly involved while serving as an employee of the Company, its
predecessors, subsidiaries or affiliates. This cooperation shall include, but shall not be limited to,
meeting with, and providing information to, the Company and its legal counsel, maintaining the
confidentiality of any past or future privileged communications with the Company’s legal counsel
(outside and in-house), and Employee making himself or herself available to testify truthfully by
affidavit, in depositions, or in any other forum on behalf of the Company. The Company agrees to
reimburse Employee for any reasonable and necessary out-of-pocket costs associated with
Employee’s cooperation.
This Agreement shall be binding upon and inure to the benefit of the parties hereto and
their respective heirs, personal representatives, successors, assigns, affiliated entities, and any
party-in-interest. Employee agrees that, should the Company be acquired by, merge with, or
otherwise combine with another corporation or business entity, the surviving entity will have all
rights to enforce the terms of this Agreement as if it were the Company itself enforcing the
Agreement. Employee further agrees that this Agreement may be enforced against Employee by
any Company affiliate, without the need for any formal assignment of this Agreement.
Notwithstanding the foregoing, Employee may not assign this Agreement.
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A waiver by the Company of the breach of any of the provisions of this Agreement by
Employee shall not be deemed a waiver of any subsequent breach, nor shall recourse to any remedy
hereunder be deemed a waiver of any other or further relief or remedy provided for herein. No
waiver shall be effective unless made in writing and signed by an officer of the Company. This
Agreement can only be amended or modified in a writing signed by both parties. Any subsequent
change(s) in Employee’s duties, salary, compensation, or benefits will not affect the validity or
scope of this Agreement.
This Agreement does not supersede or replace any prior agreements between the parties,
including but limited to any prior agreements that provide for restriction(s) on post-employment
conduct. Any and all such prior Agreements remain in full force and effect, according to their terms,
and to the extent enforceable under applicable law.
Employee and the Company agree that in any legal proceeding to enforce this Agreement,
the prevailing party shall be entitled to reimbursement of its actual costs and expenses, including
without limitation reasonable attorneys’ fees, costs, and disbursements.
Cynthia Ryan
Cigna Corporation
EVP Human Resources & Services
February 24, 2021
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EXHIBIT O
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Position Specification
Chief Product Officer – Consumer Health
January 2023
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Our purpose
Bringing our heart
to every moment
of your health.TM
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Fact Sheet
Redefining health care delivery – Healthier Happens Together™
CVS Health is the leading health solutions company, delivering care like no one else can. We reach more people and
improve the health of communities across America through our local presence, digital channels and over 300,000
dedicated colleagues – including more than 40,000 physicians, pharmacists, nurses, and nurse practitioners.
Wherever and whenever people need us, we help them with their health – whether that’s managing chronic diseases,
staying compliant with their medications, or accessing affordable health and wellness services in the most convenient
ways. We help people navigate the health care system – and their personal health care – by improving access, lowering
costs and being a trusted partner for every meaningful moment of health. And we do it all with heart, each and every
day. Follow @CVSHealth on social media.
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Newsroom
COVID-19
CVS Health completes rollout of time delay safes in 13 states - November Explore the response we’ve hadon this
30, 2022 major public health challenge.
Response Report
CVS Health invests $6.2 million in affordable housing in Bel Aire -
November 18, 2022 OUR SERVICES
One-of-a-kind health care company
CVS Health invests $14.3 million in affordable housing in Seattle -
that helps patients get the care they
November 16, 2022
need through the channel thatworks
best for them.
Pharmacist prescribing of COVID-19 antiviral treatment now available at
CVS Integrated Services
CVS Pharmacy- November 15, 2022
Reinventing health care: The Aetna Connected Plan with CVS Health is
CORPORATE SOCIAL
helping deliver cost-effective, accessible and easy health care - October
13, 2022
RESPONSIBILITY
The Transform Health 2030 strategy is
guided by four priority areas, Healthy
CVS Health appoints Dr. Amar Desai to lead newly formed Health Care People, Healthy Business, Healthy
Delivery organization - October 6, 2022 Community and Healthy Planet.
The Role
Position Chief Product Officer – Consumer Health
Location Flexible
Reports to Chief Executive Officer
Position Overview The Chief Product Officer – Consumer Health will lead the newly formed product strategy and
innovation function for consumer health products at CVS Health. The new Chief Product
Officer – Consumer Health will be a trailblazer in this newly formed organization dedicated to
the development of an enterprise product strategy and plans for consumers in the Aetna,
retail and health care delivery businesses with cross-cutting capabilities that optimize their
health and experiences utilizing a transformative approach to supporting consumers health
service needs at every moment in their health journey.
She/he will collaborate across the Health Care Benefits, Health Care Delivery and Retail
businesses to ensure day-to-day product execution for each covered line of business
expanding services for consumers in the Aetna, retail and health care delivery businesses and
covered business unit-specific product development and execution driving expanded
services for consumers in the Aetna, retail and health care delivery businesses.
Major Develop enterprise product strategy and plans for consumers in the Aetna, retail and health
Responsibilities care delivery businesses with cross-cutting capabilities that optimize their health and
experiences. Launch go-to-market product strategies that enable growth by enhancing
service to those customers.
• Enterprise Integrated Product Innovation, Design and Development to serve
consumers in the Aetna, retail and health care delivery businesses.
• External Partnership Management in the Aetna, retail and health care delivery
businesses.
• Product Center of Excellence for Aetna, retail and health care delivery businesses.
• Product Portfolio Management for financial performance, profitability and expansion
of services consumers in the Aetna, retail and health care delivery businesses.
• Product Insights related to expanding services to consumers in the Aetna, retail and
health care delivery businesses.
• Product Marketing for consumers in the Aetna, retail and health care delivery
businesses.
Travel At least 40% of time; CVS senior leaders are expected to be in office two days per week.
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The Person
The Chief Product Officer – Consumer Health will bring an immediate level of
credibility to the role, leveraging the following experiences:
If you are vaccinated, you are required to have received at least one COVID-19 shot prior to
your first day of employment and to provide proof of your vaccination status within the first 10
days of your employment. For the two COVID-19 shot regimen, you will be required to provide
proof of your second COVID-19 shot within the first 45 days of your employment. In some
states and roles, you may be required to provide proof of full vaccination before you can begin
to actively work. Failure to provide timely proof of your COVID-19 vaccination status will result
in the termination of your employment with CVS Health.
If you are unable to be fully vaccinated due to disability, medical condition, or religious belief,
you will be required to apply for a reasonable accommodation within the first 10 days of your
employment in order to remain employed with CVS Health. As a part of this process, you will
be required to provide information or documentation about the reason you cannot be
vaccinated. In some states and roles, you may be required to have an approved reasonable
accommodation before you can begin to actively work. If your request for an accommodation
is not approved, then your employment may be terminated.
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Total Rewards
Bring your heart to CVS Health®
Every one of us at CVS Health shares a single, clear
purpose: Bringing our heart to every moment of your
health.
Physical health helps you be in Emotional health helps you have Financial Security helps you have
tune with your body to manage the resiliency to manage your the financial skills and resources
your nutrition, sleep, activity, and emotions and reactions through available to pursue your goals, and
lifestyle; a few examples include: life’s ups and downs, with a host of includes:
• Well-being assessment programs such as: • Financial well-being
• Health screening • Mindfulness and mental assessment
• Online fitness classes and resilience programs • Financial tools and calculators,
Grokker well-being platform • Sleepio sleep improvement coaching, webcasts, and one-
• Telephonic and digital program on-one consultations
coaching • Daylight for worry and anxiety • Enhanced family support
• Programs for weight • Work/life and counseling through Bright Horizons
management, diabetes, services
maternity and more
Purpose helps you have a sense of Social Connectedness helps you Character strengths helps with
meaning in life, and includes: have close, meaningful, and consistent thoughts and actions
• Well-being Champion network supportive relationships, and that contribute to the overall well-
• Caregiver support includes: being of yourself and others, and
• Stamp Out Stigma • Peace at Home Parenting includes:
webinars • Charitable giving and volunteer
• Activity challenges opportunities
• Colleague Resource Groups • Character strengths course
Gratitude course
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CVS Health
1 CVS Drive
Woonsocket, RI 02895
CVS Health is an equal opportunity employer. We do not discriminate in hiring or employment against any individual on the basis of race, ethnicity,
ancestry, color, religion, sex/gender (including pregnancy), national origin, sexual orientation, gender identity or expression, physical or mental
disability, medical condition, age, veteran status, military status, marital status, genetic information, citizenship status, unemployment status,
political affiliation, or on any other basis or characteristic prohibited by applicable federal, state or local law. CVS Health will consider qualified job
candidates with criminal histories in a manner consistent with federal, state, and local laws. CVS Health will not discharge or in any other manner
discriminate against any Colleague or applicant for employment because such Colleague or applicant has inquired about, discussed, or disclosed
the compensation of the Colleague or applicant or another Colleague or applicant. Furthermore, we comply with the laws and regulations set forth
in the following EEO is the Law Poster: EEO IS THE LAW and EEO IS THE LAW SUPPLEMENT.
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EXHIBIT P
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Fisher Phillips represents Cigna Corporation and its affiliates (“Cigna”). We understand
that you represent Amy Bricker, who resigned from Cigna recently to accept a position with CVS
Health Corporation (“CVS”), a direct competitor of Cigna, in violation of Ms. Bricker’s post-
employment legal obligations to Cigna. Cigna demands that Ms. Bricker immediately cease and
desist in further violations, as described below.
As you are aware from your correspondence with Cigna’s counsel, Ms. Bricker executed
multiple agreements with Cigna during the course of her employment. These include Restricted
Stock Grant Agreements, Nonqualified Stock Option Grant Agreements, and Strategic
Performance Share Grant Agreements, (the “Equity Agreements”), as well as the Cigna
Corporation Confidentiality, Non-Competition and Non-Solicitation Agreement (the
“Confidentiality Agreement”) (collectively with the Equity Agreements referred to herein as the
“Agreements”), copies of which are enclosed. Those contracts contain, among other things, Ms.
Bricker’s agreement for two years following the termination of her employment not to (a) provide
services to a competitor of the company; and (b) solicit customers, employees, or business partners
to discontinue their relationship with Cigna, or to purchase services, goods and products of a nature
provided or sold by Cigna. Ms. Bricker further agreed not to use or disclose Cigna’s confidential
information and trade secrets following the termination of her employment. And in each
agreement, she consented to the imposition of injunctive relief for violations of these
commitments.
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FP 46195087.1
Case: 4:23-cv-00093 Doc. #: 1 Filed: 01/26/23 Page: 230 of 231 PageID #: 230
Nicolas Anaclerio
January 26, 2023
Page 2
Despite these commitments, Cigna understands that Ms. Bricker has accepted employment
on CVS’s executive leadership team in a newly created role as Chief Product Officer, Consumer
Health. Cigna has already put Ms. Bricker and you as her counsel on notice that her conduct in
this regard amounts to a per se violation of her non-competition obligations. Furthermore, because
of Ms. Bricker’s engagement with and intimate knowledge of Cigna’s health services business
operations and strategy, she cannot perform the position offered to her by CVS without using and
relying on the highly confidential knowledge and information she gained as a senior executive
with Cigna. Thus, Ms. Bricker’s prospective employment with CVS violates her contractual
obligations and presents a serious competitive threat to Cigna that is worthy of protection through
enforcement of the non-competition covenant to which she freely agreed in exchange for lucrative
equity positions, rapid advancement in responsibility and rapid increases in compensation.
It is important to understand that Cigna takes its contractual agreements seriously and
expects that Ms. Bricker will comply with them. Accordingly, Cigna demands that Ms. Bricker
immediately cease and desist her planned employment with CVS and that she immediately return
any Cigna Confidential Information, as defined in her Agreements, that remains in her possession.
If Ms. Bricker does not comply as set forth above, Cigna will have no choice but to take
further legal action to protect its rights, including but not limited to (A) seeking temporary,
preliminary and/or permanent injunctive relief pursuant to Ms. Bricker’s Agreements and under
applicable common law, (B) seeking damages for any harm that may already have been caused by
Ms. Bricker’s misconduct, and/or (C) seeking attorneys’ fees pursuant to, at a minimum, the
Missouri Uniform Trade Secrets Act and any applicable contractual terms.
Ms. Bricker already has been on notice of a legal dispute with respect to the matters raised
herein, and consequently she has, and is hereby reminded that she has, a continuing legal duty to
refrain from destroying or altering, and indeed instead to preserve, any documents or information
that relate in any way to the legal dispute. Cigna demands that Ms. Bricker take immediate action
to preserve in a forensically sound manner all documents and information, including electronically
stored information, that may contain evidence related to the above-described matters. This
includes, but is not limited to, not only written documents, but also email, text messages and other
electronic communications; electronically stored documents, images, graphics, recordings,
spreadsheets, and databases; calendars, telephone records and logs; internet usage, files, deleted
files, cache files, user information, and other data. This information could be relevant to potential
litigation and must be preserved intact. We understand that Ms. Bricker has already engaged in
wrongful and illegal conduct by deleting the content on her Cigna-issued cellular phone just shortly
before Cigna retrieved the device from her. If Ms. Bricker has deleted and/or destroyed any Cigna
business information, or any other evidence, Cigna demands that Ms. Bricker immediately identify
FP 46195087.1
Case: 4:23-cv-00093 Doc. #: 1 Filed: 01/26/23 Page: 231 of 231 PageID #: 231
Nicolas Anaclerio
January 26, 2023
Page 3
in writing all documents and information that has been destroyed or deleted, where it was stored,
what was its nature, and when it was destroyed or deleted. Moreover, and needless to say, Cigna
demands that Ms. Bricker cease and desist from any further destruction of Cigna business
information, and from any further deletion or other acts resulting in spoliation of evidence.
Further, as a result of Ms. Bricker’s violations of her legal obligations pursuant to the
Agreements, Ms. Bricker has forfeited the value of certain equity granted to her under the Equity
Agreements as follows:
- $354,598 of restricted stock that vested during the 12-month period ending on the date
of her termination of employment with Cigna, in accordance with paragraph 8(c) of the
Restricted Stock Grant Agreements;
- $977,841 of options exercised within the 24-month period preceding the date of her
termination of employment with Cigna, in accordance with paragraph 8(c) of the
Nonqualified Stock Option Grant Agreements; and
- $223,440 of shares realized during the 12-month period prior to the date of her
termination of employment with Cigna, in accordance with paragraph 9(c) of the
Strategic Performance Share Grant Agreements.
Accordingly, in addition to Cigna’s demand that Ms. Bricker cease and desist from
violation of her Agreements, Cigna demands that Ms. Bricker tender a check in the total amount
of $1,555,879 to the undersigned as counsel for Cigna within thirty (30) days of the date of this
letter. Cigna reserves all rights and remedies with respect to the matters raised in this letter,
including to recover its damages incurred to date.
Sincerely,
Risa B. Boerner
For FISHER & PHILLIPS LLP
Enclosures
FP 46195087.1