Amendment to Employment Agreement between UnitedHealth Group and Section 16 Officer
This amendment, issued by UnitedHealth Group, modifies the employment agreement of a Section 16 officer by removing the provision for enhanced severance in the event of a change in control. The officer will no longer receive additional severance compensation if terminated without cause following a change in control, but will remain eligible for standard severance as outlined elsewhere in the agreement. The officer is required to sign the memorandum to acknowledge and accept this change.
Exhibit 10.1
UnitedHealth Group
MEMORANDUM
To:
From:
Date:
Re: Amendment to Employment Agreement
As you are aware, the Board of Directors has requested that all Section 16 officers agree to remove enhanced severance tied to a change in control. To this end, the following section will be eliminated from your employment agreement:
Section 3.D.1.b (Termination following a Change in Control)
Should there be a change in control and your employment is terminated without cause, you will still be eligible for severance compensation as provided under Section 3.D.1.
Please sign this memorandum to acknowledge your agreement to this change.
Signature:
Date:
United HealthCare Services, Inc.
By:
Its:
Date:
