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Exhibit 10.5
AEtna Interoffice Xxxx Xxx Xxxxxxxx
Communication Aetna Human Resources, RC3A
(000) 000-0000
Fax: (000) 000-0000
To Xxxxxxx X. Xxxxx
Date July 22, 1996
Subject LETTER AGREEMENT
I am pleased to inform you that effective July 19, 1996, Aetna
Inc. has assumed all of the obligations of Aetna Services, Inc.
(formerly Aetna Life and Casualty Company) under your Letter
Agreement with Aetna Services, Inc. All references to the
"Company" in your Letter Agreement will hereinafter be deemed to
mean both Aetna Services, Inc. and Aetna Inc. Among other things,
this means that the Change in Control provisions of your Letter
Agreement would be triggered by a change in control of either
Aetna Services, Inc. or Aetna Inc.
By way of background, Aetna Inc. became the ultimate parent within
the Aetna holding company system as a result of the merger with
U.S. Healthcare. Your Letter Agreement was entered into with
Aetna Services, Inc., which is now a direct subsidiary of Aetna
Inc. We felt it would be appropriate for the new ultimate parent,
Aetna Inc., to assume these obligations to place you on an
equivalent footing post-merger.
The assumption of your Letter Agreement is self-executing. You do
not need to take any action in response to this letter. If you
have any questions or concerns, please let me know.
/s/ Xxxx Xxx Xxxxxxxx
