Amendment to Employment Letter Between Aetna Inc. and Rick Jelinek Dated September 25, 2017

Contract Categories: Human Resources › Employment Agreements
Summary

This amendment, agreed between Aetna Inc. and Rick Jelinek, modifies the terms of Jelinek's original employment letter. It extends the period during which Jelinek can resign for "Good Reason" related to the failure to close the Humana Inc. acquisition until July 31, 2018, with a requirement to provide 120 days' notice before resigning. It also clarifies that Jelinek's acceptance of a change in reporting relationship does not waive his right to resign for "Good Reason" in the future. This amendment replaces a previous letter dated March 7, 2017.

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EX-10.3 4 exhibit10_3.htm EXHIBIT 10.3 Exhibit


Exhibit 10.3
151 Farmington Avenue
Hartford, CT 06156
[Aetna Logo]

Thomas W. Weidenkopf
Executive Vice President Human Resources
Office: 212 ###-###-####


To:        Rick Jelinek
From:        Tom Weidenkopf
Date:        September 25, 2017
Subject:    Amendment to Employment Letter

The purpose of this memorandum is to outline the agreement we have reached regarding the definition of "Good Reason" set forth in the employment letter to you from the Aetna Inc. dated October 14, 2015 (the "Employment Letter").
We have agreed to the following:
1.
The period during which you may elect to exercise your right to terminate your employment for "Good Reason" due to failure to close the Humana Inc. acquisition shall be extended from 60 days following the event constituting "Good Reason" to July 31, 2018; provided, however, that if you notify the Company of your intent to voluntarily terminate your employment pursuant to this paragraph 1, you agree not to voluntarily terminate your employment for "Good Reason" without the Company's consent prior to 120 days following that date of your notice to the Company.

2.
Your acceptance of the recently announced change in your reporting relationship does not in any way serve as a waiver of your right under the Employment Letter to terminate your employment for "Good Reason" in the future based on your reporting relationship to the CEO of the Company (subject to the right of the Company to cure such "Good Reason" event as set forth in the Employment Letter).

This letter shall supersede and replace the letter between you and the Company dated March 7, 2017.

Agreed:    
 
 
 
 
 
 
/s/ Thomas W. Weidenkopf 9/25/17
 
/s/ Rick Jelinek 9/25/17
Thomas W. Weidenkopf
 
Rick Jelinek

 
 
 
 



Rick Jelinek - Amendment to employment 9-2017 (2) (2).doc