{"id":38509,"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-3-to-employment-agreement-with-williams-aetna.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"amendment-no-3-to-employment-agreement-with-williams-aetna","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/amendment-no-3-to-employment-agreement-with-williams-aetna.html","title":{"rendered":"Amendment No. 3 to Employment Agreement with Williams &#8211; Aetna"},"content":{"rendered":"<p>Amendment No. 3 to Employment Agreement <br \/>\nAmendment Number 3 to the Amended and Restated Employment Agreement dated as of<br \/>\nDecember 5, 2003 (the &#8220;Employment Agreement&#8221;) as further amended on January 27,<br \/>\n2006 and December 31, 2008, by and between Aetna Inc. (&#8220;Aetna&#8221;), a Pennsylvania<br \/>\ncorporation, and Ronald A. Williams (&#8220;Executive&#8221;). <br \/>\nWHEREAS, Aetna and Executive have previously entered into the Agreement; <br \/>\nWHEREAS, the Employment Agreement was amended on January 27, 2006 (&#8220;Amendment<br \/>\nNumber 1&#8221;) and December 31, 2008 (&#8220;Amendment Number 2&#8221;); <br \/>\nWHEREAS, Aetna and Executive wish to further amend the Employment Agreement to<br \/>\naddress certain changes to the interpretation    of Section 162(m) of the Internal<br \/>\nRevenue Code of 1986, as amended, described in IRS Revenue Ruling 2008-13;<br \/>\n<br \/>\nNOW, THEREFORE, the Agreement is amended effective January 1, 2010, as follows:\n<\/p>\n<table style=\"FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman\" align=\"center\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td><\/td>\n<td>\n<p>1.<\/p>\n<\/td>\n<td>\n<p>Section 3.04(b) (ii) is amended to read in its entirety as follows:    &#8220;The<br \/>\nPro-Rata Bonus Amount, provided that the minimum 162(m) performance criteria<br \/>\nestablished under the Aetna Inc. Annual Incentive Plan (162(m)) or any such<br \/>\nsuccessor plan are satisfied (the performance target shall include a straight<br \/>\nmonthly proration for any performance period that is less than 12 months).    For<br \/>\npurposes of this Section 3.04(b) (ii),  the performance period shall end  on the<br \/>\nlater of (i)  September 30th in  the year of termination of employment or (ii) the<br \/>\nend of the month prior to the month of termination of employment.    The amount,<br \/>\nif any,  shall be paid on the latest of  (x)  35 days following  the end of the<br \/>\nperformance period (but not later than December 31st of the year of termination<br \/>\nof employment), (y) 60 days following the Qualifying Event and (z) six months<br \/>\nfollowing termination  of employment,  to the extent required pursuant to<br \/>\nSection  6.17(b) hereof.  <\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>IN WITNESS WHEREOF, the undersigned has caused this Amendment to be executed<br \/>\nthis 11 day of December, 2009. <br \/>\nAetna Inc. <br \/>\n\/s\/ Elease E.<br \/>\nWright________<br \/>\nBy:                      Elease E. Wright Title:                  Sr. V.P. Human Resources <br \/>\nExecutive <br \/>\n\/s\/ Ronald A. Williams<br \/>\nRonald A. Williams<\/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-38509","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\/38509","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=38509"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38509"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38509"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}