0001116679-06-001551 Sample Contracts

INDEPENDENCE HOLDING COMPANY Restricted Share Award Agreement
Restricted Share Award Agreement • June 16th, 2006 • Independence Holding Co • Life insurance • Delaware

You are hereby awarded Restricted Shares subject to the terms and conditions set forth in this Restricted Share Award Agreement (“Award Agreement” or “Award”), and in the Independence Holding Company 2006 Stock Incentive Plan (the “Plan”), which is attached hereto as Exhibit A. You should carefully review these documents, and consult with your personal financial advisor, in order to fully understand the implications of this Award, including your tax alternatives and their consequences.

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