{"id":38507,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/amendment-no-2-to-employment-agreement-with-bertolini-aetna.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"amendment-no-2-to-employment-agreement-with-bertolini-aetna","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/amendment-no-2-to-employment-agreement-with-bertolini-aetna.html","title":{"rendered":"Amendment No. 2 to Employment Agreement with Bertolini – Aetna"},"content":{"rendered":"

Amendment No. 2 to Employment Agreement
\nAmendment Number 2 to the Employment Agreement dated as of July 24, 2007 (the
\n“Employment Agreement”) as further amended on December 31, 2008, by and between
\nAetna Inc. (“Aetna”), a Pennsylvania corporation, and Mark T. Bertolini
\n(“Executive”).
\nWHEREAS, Aetna and Executive have previously entered into the Employment
\nAgreement;
\nWHEREAS, the Employment Agreement was amended on December 31, 2008 (“Amendment
\nNumber 1”);
\nWHEREAS, Aetna and Executive wish to further amend the Employment Agreement to
\naddress certain changes to the interpretation of Section 162(m) of the Internal
\nRevenue Code of 1986, as amended, described in IRS Revenue Ruling 2008-13;
\n
\nNOW, THEREFORE, the Employment Agreement is amended effective January 1, 2010,
\nas follows:
\n1. Section 3.03(b)(ii) is amended to read in its entirety as
\nfollows: “A pro-rata bonus amount for the year of Executive’s termination of
\nemployment calculated as Executive’s target bonus opportunity for the year of
\nExecutive’s termination of employment multiplied by a fraction, the numerator of
\nwhich is the number of days in the year through the date of Executive’s
\ntermination of employment and the denominator of which is 365, provided that the
\nminimum 162(m) performance criteria established under the Aetna Inc. Annual
\nIncentive Plan (162(m)) or any such successor plan applicable to Executive with
\nrespect to such year are satisfied. In the event that Executive’s termination
\nof employment occurs prior to the determination of performance criteria
\napplicable to the performance period for the year of Executive’s termination of
\nemployment, the performance criteria applicable to Executive in respect of the
\npro-rata bonus shall be at least as favorable to Executive as the most favorable
\nperformance criteria applicable for that year to any award to a named executive
\nofficer of the Company, within the meaning of Section 402(a)(3) of Regulation
\nS-K. Payment of this pro-rata bonus amount, if any, shall be made to Executive
\nwithin 45 days following the completion of the performance period in which
\nExecutive’s termination of employment occurs.”
\nIN WITNESS WHEREOF, the undersigned has caused this Amendment to be executed
\nthis 22 day of December, 2009.
\nAetna Inc.
\n\/s\/ Elease E.
\nWright
\nBy: Elease E. Wright Title: Sr. V.P. Human Resources
\nExecutive
\n\/s\/ Mark T.
\nBertolini
\nMark T. Bertolini <\/p>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[6587],"corporate_contracts_industries":[9440],"corporate_contracts_types":[9539,9544],"class_list":["post-38507","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-aetna-inc","corporate_contracts_industries-health__plans","corporate_contracts_types-compensation","corporate_contracts_types-compensation__employment"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/38507","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=38507"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38507"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38507"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}