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

Contract Categories: Human Resources › Severance Agreements
Summary

Horace Mann Educators Corporation (HMEC) has entered into severance agreements with several of its officers, specifying the duration for which each officer would receive severance benefits if their employment ends. The agreements outline a one-time cash payment based on the highest annual compensation received in the past five years, multiplied by the duration listed for each officer, and continued insurance benefits for the same period. The terms are mostly identical to a prior agreement, with some modifications for individual officers. The schedule lists each officer, the duration of benefits, and the agreement date.

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EX-10.12(A) 3 dex1012a.htm REVISED SCHEDULE TO SEVERANCE AGREEMENTS BETWEEN HMEC AND CERTAIN OFFICERS Revised Schedule to Severance Agreements between HMEC and certain officers

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

H. Albert Inkel

    2.9 years    12-27-1991

Douglas W. Reynolds

    2.9 years    11-12-2001

Paul D. Andrews

       2 years    07-02-2001

Bret A. Conklin

       2 years    01-14-2002

Dwayne D. Hallman

       2 years    01-21-2003

William S. Hinkle

       2 years    07-19-1999

Deborah F. Kretchmar

       2 years    06-17-2002

Ricky A. Renner

       2 years    07-09-2001

Robert E. Rich

       2 years    02-19-2001

Peter M. Titone

       2 years    01-08-2001
(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.