Revised Schedule to Severance Agreement between Horace Mann Educators Corporation, Horace Mann Service Corporation, and Certain Employees
Horace Mann Educators Corporation and Horace Mann Service Corporation have updated their severance agreements for change of control with three employees: Bret A. Conklin, Dwayne D. Hallman, and Robert E. Rich. The agreements specify that, in the event of a change of control, each employee is entitled to a one-time cash payment based on two years of their highest annual compensation from the past five years. The agreements were originally signed between 2001 and 2003 and replaced in December 2011, with the last revision dated July 16, 2016.
Exhibit 10.9(a)
Revised Schedule to Severance Agreement
Horace Mann Educators Corporation (“HMEC”) and Horace Mann Service Corporation (“HMSC”) entered into severance agreements for change of control with the following persons on the dates shown. These agreements are substantially similar to the one included as Exhibit 10.13 to HMEC’s Annual Report on Form 10-K for the year ended December 31, 2012 except that the multiple of the highest annual compensation received by the employee in the five preceding years used to determine a one-time cash payment is equal to the duration listed below.
Employee | Duration | Original Agreement Date | Replacement Agreement Date |
Bret A. Conklin | 2 years | January 2002 | December 2011 |
Dwayne D. Hallman | 2 years | January 2003 | December 2011 |
Robert E. Rich | 2 years | February 2001 | December 2011 |
Last revision date: July 16, 2016