Employment Offer Letter for President, Government Business and Enterprise Solutions – Matthew Manders and Cigna

Contract Categories: Human Resources › Employment Agreements
Summary

This letter from Cigna's President and CEO, David M. Cordani, offers Matthew Manders the position of President, Government Business and Enterprise Solutions, effective January 1, 2021. The offer includes a base salary of $1,000,000, an annual incentive target of $1,250,000, and a long-term incentive target of $4,250,000, totaling $6,500,000 in annual compensation. The agreement requires Manders' written acceptance by December 8, 2020, and notes that compensation is subject to future changes. Previous bonuses and grants are unaffected.

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EX-10.36 5 exhibit1036mandersofferlet.htm EX-10.36 Document
Exhibit 10.36
David M. Cordani
President and CEO
Routing W2SLT
900 Cottage Grove Road
Hartford, CT 06152
Telephone ###-###-####
Facsimile ###-###-####

December 6, 2020


Matthew Manders

Dear Matt:

I am pleased to offer the following compensation package in connection with your assumption of the role of President, Government Business and Enterprise Solutions, reporting to me, effective January 1, 2021, subject to your written acceptance below:

•Base Salary – will increase to a pre-tax annualized rate of $1,000,000.

•Annual Incentive – your annual target will increase to $1,250,000 for the 2021 performance year.

•Long-Term Incentive – your annual long-term incentive target will increase to $4,250,000 for the 2021 annual grant.


NEW TOTAL ANNUAL COMPENSATION OPPORTUNITY:            $6,500,000
    
The changes above have no impact on previously awarded bonuses, stock options, or SPS grants. As an executive of the company, your compensation will be subject to any future program changes.

Matt, I look forward to continuing to partner with you.

Sincerely,


/s/ David M. Cordani

David M. Cordani

cc:    K. Gorodetzer
J. Murabito

Please indicate your acceptance of our offer by signing below and returning a copy to me no later than Tuesday, December 8, 2020.

Acceptance:    /s/ Matthew Manders

Date:        December 8, 2020