
M E M O R A N D U M
TO: Mark Medley, Region 3 President
FROM: Tim Hingtgen, Chief Executive Officer
CC: Matt Hayes, EVP & Chief Human Resources Officer
DATE: February 19, 2024
SUBJECT: Executive Retention Cash Award – CHSPSC, LLC Franklin Corporate Office
Effective today, we are pleased to announce a special one-time Executive Cash Retention Award which has been designed to retain key talent within the organization and to further enhance your current compensation portfolio. The Award is subject to the conditions outlined below.
The Award is divided into two installment payments, 40% of the Award to be distributed eighteen months following the Award Date and the remaining 60% to be distributed 36 months following the Award Date. [Example, if the Award is $100,000, the employee will receive $40,000 following 18 months of the original Award Date and the remaining $60,000 following 36 months of the original Award Date.] This confidential and discretionary Award will be in monetary form that is not subject to market fluctuations and that you can choose to spend or invest at your discretion.
Your exceptional leadership and continued dedication are critical to the success of the organization and are recognized by your eligibility for this unique award. If you have any questions, please contact Matt Hayes in the Corporate Human Resources Department.
Your 2024 Executive Retention Cash Award
Employee Name: |
Mark Medley |
Job Title: |
Region 3 President |
2024 Retention Cash Award Amount: |
$500,000 |
2024 Award Date: |
3/1/2024 |
1st Installment (40%) Issuance Date: 9/1/25 |
$200,000 |
2nd Installment (60%) Issuance Date: 3/1/27 |
$300,000 |
Award Eligibility
In order to be eligible to earn each installment payment of the Award, you must have been actively employed as a full-time employee of CHSPSC, LLC for each installment period through each Installment Issuance Date (18 and 36 months as outlined above). Each payment will be made as soon as administratively possible following completion of each installment period and will be subject to applicable taxes.