Exhibit 10.1

FOURTH AMENDMENT TO CREDIT AGREEMENT

THIS FOURTH AMENDMENT TO CREDIT AGREEMENT (this “Fourth Amendment”), dated as of
June 16, 2009, is entered into among TORCHMARK CORPORATION, a Delaware
corporation (the “Borrower”), TMK RE LTD., a Bermuda reinsurance corporation
(“TMK”), the lenders listed on the signature pages hereof as Lenders (the
“Lenders”), and BANK OF AMERICA, N.A., as Administrative Agent, Swing Line
Lender and L/C Issuer.

BACKGROUND

A. The Borrower, the Lenders, the Administrative Agent, the Swing Line Lender
and the L/C Issuer are parties to that certain Credit Agreement, dated as of
November 18, 2004, as amended by that certain First Amendment to Credit
Agreement, dated as of June 9, 2006, that certain Second Amendment to Credit
Agreement, dated as of August 31, 2006, and that certain Third Amendment to
Credit Agreement, dated as of October 30, 2008 (said Credit Agreement, as
amended, the “Credit Agreement”). The terms defined in the Credit Agreement and
not otherwise defined herein shall be used herein as defined in the Credit
Agreement.

B. The Borrower has requested certain amendments to the Credit Agreement.

C. The Lenders, the Administrative Agent, the Swing Line Lender and the L/C
Issuer hereby agree to amend the Credit Agreement, subject to the terms and
conditions set forth herein.

NOW, THEREFORE, in consideration of the covenants, conditions and agreements
hereafter set forth, and for other good and valuable consideration, the receipt
and adequacy of which are all hereby acknowledged, the Borrower, the Lenders,
the Swing Line Lender, the L/C Issuer and the Administrative Agent covenant and
agree as follows:

1. AMENDMENTS. Section 7.09 of the Credit Agreement is hereby amended to read as
follows:

7.09 Burdensome Agreements. The Borrower shall not, nor shall it permit any
Subsidiary to, subject to limitations imposed by Law, enter into any Contractual
Obligation (other than this Agreement, any other Loan Document) that (a) limits
the ability (i) of any Subsidiary to make Restricted Payments to the Borrower or
to otherwise transfer property to the Borrower, (ii) of any Subsidiary to
Guarantee the Indebtedness of the Borrower, or (iii) of the Borrower or any
Subsidiary to create, incur, assume or suffer to exist Liens on property of such
Person; or (b) requires the grant of a Lien to secure an obligation of such
Person if a Lien is granted to secure another obligation of such Person;
provided, however, that the foregoing restrictions of this Section 7.09 shall
not be applicable to (i) Section 1007 (as in effect on the date hereof) of that
certain Indenture dated as of February 1, 1987 by and between the Borrower and
Morgan Guaranty Trust Company of New York, as amended or supplemented through
the date hereof or as further supplemented with respect to the issuance of up to
$500,000,000 of additional senior notes thereunder or (ii) any incorporation by
reference of such Section 1007 into

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the senior notes issued pursuant to the related Second Supplemental Indenture
dated as of June 23, 2006 or into any such additional senior notes.

2. REPRESENTATIONS AND WARRANTIES TRUE; NO EVENT OF DEFAULT. By its execution
and delivery hereof, the Borrower represents and warrants that, as of the date
hereof:

(a) the representations and warranties contained in the Credit Agreement and the
other Loan Documents are true and correct on and as of the date hereof as made
on and as of such date, except to the extent that such representations and
warranties specifically refer to an earlier date, in which case they shall be
true and correct as of such earlier date;

(b) no event has occurred and is continuing which constitutes a Default or an
Event of Default;

(c) (i) each of the Borrower and TMK has full power and authority to execute and
deliver this Fourth Amendment, (ii) this Fourth Amendment has been duly executed
and delivered by each of the Borrower and TMK, and (iii) this Fourth Amendment
and the Credit Agreement, as amended hereby, constitute the legal, valid and
binding obligations of each of the Borrower and TMK enforceable in accordance
with their respective terms, except as enforceability may be limited by
applicable Debtor Relief Laws and by general principles of equity (regardless of
whether enforcement is sought in a proceeding in equity or at law) and except as
rights to indemnity may be limited by federal or state securities laws;

(d) neither the execution, delivery and performance of this Fourth Amendment or
the Credit Agreement, as amended hereby, nor the consummation of any
transactions contemplated herein or therein, will conflict with any Law or
Organization Documents of the Borrower or TMK, or any indenture, agreement or
other instrument to which the Borrower or TMK or any of their respective
property is subject; and

(e) no authorization, approval, consent, or other action by, notice to, or
filing with, any Governmental Authority or other Person not previously obtained
is required for the execution, delivery or performance by the Borrower or TMK of
this Fourth Amendment.

3. CONDITIONS TO EFFECTIVENESS. This Fourth Amendment shall be effective upon
satisfaction or completion of the following:

(a) the Administrative Agent shall have received counterparts of this Fourth
Amendment executed by the Required Lenders;

(b) the Administrative Agent shall have received counterparts of this Fourth
Amendment executed by each of the Borrower and TMK; and

(c) the Administrative Agent shall have received, in form and substance
satisfactory to the Administrative Agent and its counsel, such other documents,
certificates and instruments as the Administrative Agent shall reasonably
require.

 

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4. REFERENCE TO THE CREDIT AGREEMENT.

(a) Upon the effectiveness of this Fourth Amendment, each reference in the
Credit Agreement to “this Agreement”, “hereunder”, or words of like import shall
mean and be a reference to the Credit Agreement, as affected and amended hereby.

(b) The Credit Agreement, as amended by the amendments referred to above, shall
remain in full force and effect and is hereby ratified and confirmed.

5. COSTS, EXPENSES AND TAXES. Each Loan Party agrees to pay on demand all
reasonable costs and expenses of the Administrative Agent in connection with the
preparation, reproduction, execution and delivery of this Fourth Amendment and
the other instruments and documents to be delivered hereunder (including the
reasonable fees and out-of-pocket expenses of counsel for the Administrative
Agent with respect thereto).

6. EXECUTION IN COUNTERPARTS. This Fourth Amendment may be executed in any
number of counterparts and by different parties hereto in separate counterparts,
each of which when so executed and delivered shall be deemed to be an original
and all of which when taken together shall constitute but one and the same
instrument. For purposes of this Fourth Amendment, a counterpart hereof (or
signature page thereto) signed and transmitted by any Person party hereto to the
Administrative Agent (or its counsel) by facsimile machine, telecopier or
electronic mail is to be treated as an original. The signature of such Person
thereon, for purposes hereof, is to be considered as an original signature, and
the counterpart (or signature page thereto) so transmitted is to be considered
to have the same binding effect as an original signature on an original
document.

7. GOVERNING LAW; BINDING EFFECT. This Fourth Amendment shall be governed by and
construed in accordance with the laws of the State of Texas applicable to
agreements made and to be performed entirely within such state, provided that
each party shall retain all rights arising under federal law, and shall be
binding upon the parties hereto and their respective successors and assigns.

8. HEADINGS. Section headings in this Fourth Amendment are included herein for
convenience of reference only and shall not constitute a part of this Fourth
Amendment for any other purpose.

9. ENTIRE AGREEMENT. THE CREDIT AGREEMENT, AS AMENDED BY THIS FOURTH AMENDMENT,
AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES
AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT
ORAL AGREEMENTS BETWEEN THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS
BETWEEN THE PARTIES.

REMAINDER OF PAGE LEFT INTENTIONALLY BLANK

 

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IN WITNESS WHEREOF, this Fourth Amendment is executed as of the date first set
forth above.

 

TORCHMARK CORPORATION By:  

/s/ Danny H. Almond

Name:  

Danny H. Almond

Title:  

VP

TMK RE, LTD. By:  

/s/ Danny H. Almond

Name:  

Danny H. Almond

Title:  

President

 

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BANK OF AMERICA, N.A., as Administrative Agent By:  

/s/ Aamir Saleem

Name:  

Aamir Saleem

Title:  

Vice President

 

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BANK OF AMERICA, N.A., as a Lender, L/C Issuer and Swing Line Lender By:  

/s/ Jason Cassity

  Jason Cassity   Vice President

 

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JPMORGAN CHASE BANK, N.A., as a Lender By:  

/s/ Melvin D. Jackson

Name:  

Melvin D. Jackson

Title:  

Vice President

 

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KEYBANK NATIONAL ASSOCIATION, as a Lender By:  

/s/ Mary K. Young

Name:  

Mary K. Young

Title:  

Senior Vice President

 

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REGIONS BANK, as a Lender By:  

/s/ David A. Simmons

Name:  

David A. Simmons

Title:  

Senior Vice President

 

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SUNTRUST BANK, as a Lender By:  

/s/ W. Bradley Hamilton

Name:  

W. Bradley Hamilton

Title:  

Director

 

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THE BANK OF NEW YORK MELLON, as a Lender By:  

/s/ Richard G. Shaw

Name:  

Richard G. Shaw

Title:  

Vice President

 

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WACHOVIA BANK, NATIONAL ASSOCIATION, as a Lender By:  

/s/ Michelle Dagenhart

Name:  

Michelle Dagenhart

Title:  

Vice President

 

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  AMSOUTH BANK, as a Lender

[AMSOUTH BANK

is now

    REGIONS BANK]   By:  

/s/ David A. Simmons

  Name:  

David A. Simmons

  Title:  

Senior Vice President

 

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COMERICA BANK, as a Lender By:  

/s/ Sarah Bryson

Name:  

Sarah Bryson

Title:  

Corporate Banking Officer

 

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WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender By:  

/s/ Thomas W. Doddridge

Name:  

Thomas W. Doddridge

Title:  

Senior Vice President

 

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COMPASS BANK, as a Lender By:  

/s/ Jason Goetz

Name:  

Jason Goetz

Title:  

VP

 

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FIRST COMMERCIAL BANK, as a Lender By:  

/s/ Kelly Peace

Name:  

Kelly Peace

Title:  

Vice President

 

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UMB BANK, n.a., as a Lender By:  

/s/ David A. Proffitt

Name:  

David A. Proffitt

Title:  

Senior Vice President

 

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