As you are aware and have been advised, Molina Healthcare, Inc. (MHI)has implemented Project Green as an enterprise wide initiative to help develop and possibly implement a new sourcing strategythat will help Molina deliver technology and operation services. While Molina is working through this restructuring initiative, we want to ensure that there are no interruptions to business needs and maintain quality and efficient services as we move toward the end of 2018 and beyond so as to ensure a smooth transition should a new sourcing strategy be selected.We have developed aRetention Program (“Program”) to provide a financial inducement for you to remain employed with Molina for a period of time.
The Retention Bonus Pay will compensate you up to «Proposed_Retention»percent of your base salary , in return for maintaining your full-timeemployment status through your last day of employment.The Retention Bonus Pay will be divided and paid out in two (2) payments . You will receive the first installment payment upon the first payroll date following the signed agreement with one or more suppliers or on January 11, 2019, whichever comes first. This amount will equal 30% of your retention bonus pay. The remaining installment payment will be made only after services are transitioned to the supplier and will equal 70% of the retention bonus pay. If services are not transitioned to a supplier you will receiveonly 30%of the agreed upon retention bonus. Any payments contemplated by the “Retention Bonus" Payment will be made minus any applicable taxes and/or other required deductions. You will not eligible for this retention bonus should you voluntarily resign.Or if you are on any type discliplinary
In addition to the Retention Bonus Pay, a Severance Package to include payment equal tofour (4)months of base salary2 will be offered should your position be eliminated. A Severance Agreement with the related terms and conditions will be provided to you at the time of separation. You will not be eligible for severance benefits should you voluntarily resign.