CIGNA Corporation Description of Severance Benefits for Executives (Non-Change of Control)
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Summary
This document outlines CIGNA Corporation's policy for providing severance benefits to executive-level employees whose employment ends due to job elimination or other reasons not related to a change of control. The decision to grant severance, and the amount, is at the discretion of the CEO or, for senior executives, the People Resources Committee. Factors considered include the executive's length of service, compensation target, and post-employment career plans.
EX-10.6 3 ex10-6.htm CIGNA CORPORATION EXHIBIT 10.6 CIGNA Corporation Exhibit 10.6
Exhibit 10.6
Description of Severance Benefits for Executives in
Non-Change of Control Circumstances
Severance benefits may be provided to executive level employees whose employment is terminated because of job elimination or any other reason. The amount of these benefits is subject to the discretion of the CEO (and, in the case of senior executives, the People Resources Committee). The following factors are typically considered in the exercise of such discretion: length of service; the executive’s total compensation target and the executive’s career plans following termination of employment with CIGNA.
