WASHINGTON NATIONAL CORPORATION EXHIBIT 10.1 - FORM OF AMENDMENT TO EMPLOYMENT AGREEMENTS Date:_____________________ Name Address Dear ______________: This letter is intended to clarify the interpretation of the Employment Agreement made as of the...Employment Agreement • November 13th, 1996 • Washington National Corp • Accident & health insurance
This letter is intended to clarify the interpretation of the Employment Agreement made as of the _______________________, by and among Washington National Insurance Company, Washington National Corporation and you to provide you with a two year severance period (or, if less than two years, until you reach age 65). The intent of the Agreement is that if your employment is terminated for any reason other than Good Cause (as defined in the Agreement), or if you terminate your employment for Good Reason (as defined in the Agreement) you will receive, within 10 days after the Date of Termination (as defined in the Agreement), a lump sum payment in an amount equal to your salary (at your then current fixed annual salary level) and your bonus under the Incentive Compensation Plan for a severance period equal to the balance of the term of your employment under the Agreement as it exists at the time of your termination of employment. That severance period will commence on the date of your termi
