Offer letter for Matthew Manders dated December 6, 2020

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.

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.


/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