Extension Letter for Change in Control Severance Agreement between Assurant, Inc. and Lesley Silvester
Assurant, Inc. has extended its Change in Control Severance Agreement with Lesley Silvester for an additional two years, now expiring on December 31, 2008. This agreement provides certain benefits to Silvester if a change in control of the company occurs. The extension was authorized by the Compensation Committee of the Board of Directors. No other terms of the agreement are changed by this letter.
EXHIBIT 10.20
| One Chase Manhattan Plz | ||||
| New York, NY 10005 | ||||
| Phone: 212 ###-###-#### | ||||
| www.assurant.com | ||||
PERSONAL AND CONFIDENTIAL
December 15, 2006
Lesley Silvester
Assurant, Inc.
1 Chase Manhattan Plaza
New York, NY 10005
Re: Extension of Change in Control Severance Agreement
Dear Lesley,
You are presently covered by a Change in Control Severance Agreement (“CIC Agreement”) with Assurant, Inc. (the “Company”) that may provide certain benefits to you in the event that a Change in Control (as defined in the CIC Agreement) occurs. The CIC Agreement, as amended, was due to expire on December 31, 2006.
As permitted by Section 1(a) of the CIC Agreement, the Compensation Committee of the Board of Directors has authorized the Company to extend the term of the CIC Agreement for two years, through December 31, 2008.
As always, we appreciate your dedication to Assurant. If you have any questions or concerns, please feel free to contact me.
| Sincerely, |
| /s/ Robert B. Pollock |
| Robert B. Pollock |
| Chief Executive Officer |
In New York state, Assurant, Inc. does business under the name Assurant Group.
