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 a one-time cash payment and continued insurance benefits if their employment ends. The agreements are largely identical to a prior template, with the main differences being the duration of benefits and payment, which range from 2 to 3 years depending on the employee. The agreement with Louis G. Lower II is governed by a separate employment agreement. These terms are designed to provide financial and insurance support to the listed employees upon termination.

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EX-10.12.(A) 3 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
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
Deborah F. Kretchmar    2 years    06-17-2002
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.