First Amendment to The Phoenix Companies, Inc. Directors Equity Deferral Plan (Effective June 26, 2015)

Summary

This amendment updates The Phoenix Companies, Inc. Directors Equity Deferral Plan, originally amended and restated effective January 1, 2009. The change, effective June 26, 2015, revises the definition of "Beneficiary" to clarify who will receive plan benefits if a director passes away. It specifies that, in the absence of a designated beneficiary, benefits will go first to the director’s surviving spouse, then to children, and finally to the director’s estate if no spouse or children exist.

EX-10.50 9 pnx-20151231xexhibit1050.htm EXHIBIT 10.50 Exhibit

EXHIBIT 10.50

FIRST AMENDMENT TO

THE PHOENIX COMPANIES, INC.

DIRECTORS EQUITY DEFERRAL PLAN

As Amended and Restated Effective January 1, 2009

The Phoenix Companies, Inc. Directors Equity Deferral Plan (the "Plan"), as amended and restated effective January 1, 2009, is amended effective June 26, 2015 as follows:


1.	Section 2.02 is amended in its entirety to read as follows:

2.02

“Beneficiary” means the person(s) or entity, including one or more trusts, last designated by a Director on a form or electronic media and accepted by the Committee or its duly authorized representative as a beneficiary, co-beneficiary, or contingent beneficiary to receive benefits payable under the Plan in the event of the death of the Director. In the absence of any such designation, the Beneficiary shall be (i) the Director’s surviving spouse, (ii) if there is no surviving spouse, the Director’s children (including stepchildren and adopted children) per stirpes, or (iii) if there is no surviving spouse and/or children per stirpes, the Director’s estate.