Revised Schedule to Severance Agreements between Horace Mann Educators Corporation and Certain Employees

Contract Categories: Human Resources › Severance Agreements
Summary

Horace Mann Educators Corporation (HMEC) has entered into severance agreements with several employees, specifying the duration for which each employee would receive severance benefits if their employment ends. The agreements outline a one-time cash payment based on the highest annual compensation over the past five years, multiplied by the listed duration, and continued insurance benefits for the same period. The terms are nearly identical to a prior agreement, with minor modifications for each individual. The schedule lists the employees, agreement dates, and specific durations for their severance benefits.

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EX-10.12(A) 2 dex1012a.htm REVISED SCHEDULE TO SEVERANCE AGREEMENTS Revised Schedule to Severance Agreements

Exhibit 10.12(a)

Revised Schedule to Severance Agreement

Horace Mann Educators Corporation (“HMEC”) entered into severance agreements with the following persons on the dates shown. These agreements are substantially identical to the one included as Exhibit 10.7 to HMEC’s Annual Report on Form 10-K for the year ended December 31, 2001 except that (1) 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 and (2) the specified period during which such employee’s insurance benefits would continue is equal to the duration below, and except as indicated in footnote (a).

 

Employee

  

Duration

  

Agreement Date

Louis G. Lower II (a)

   3 years   02-01-2000

Ann M. Caparrós

   2.9 years   03-07-1994

Peter H. Heckman

   2.9 years   04-10-2000

Paul D. Andrews

   2 years   07-02-2001

Bret A. Conklin

   2 years   01-14-2002

Dwayne D. Hallman

   2 years   01-21-2003

Ricky A. Renner

   2 years   07-09-2001

Robert E. Rich

   2 years   02-19-2001

 

(a) HMEC entered into a severance agreement with Louis G. Lower II as set forth in the Lower Employment Agreement contained in Exhibit 10.12 to HMEC’s Annual Report on Form 10-K for the year ended December 31, 1999.