Exhibit 10.16.2

 

March 16, 2009

 

Larry D. Zimpleman

President and Chief Executive Officer

Principal Financial Group, Inc.

711 High Street

Des Moines, Iowa 50392

 

Dear Larry:

 

You, Principal Financial Group, Inc., Principal Financial Services, Inc. and
Principal Life Insurance Company (collectively “Companies”) and the Companies
agree to amend the Amended and Restated Employment Agreement, by and between the
Companies and you dated May 1, 2008 (“Agreement”) as follows:

 

As of March 28, 2009, your Base Salary (as that term is defined in the
Agreement) will be reduced by 10% to $720,000.  Except as provided in this
Amendment, all of the other terms and conditions of the Agreement will remain in
full force and effect.

 

Principal Financial Group, Inc.

 

 

By:

/s/ William T. Kerr

 

 

William T. Kerr

 

 

Chairman, Human Resources Committee of the Board of Directors

 

Principal Financial Services, Inc.

 

 

By:

/s/ William T. Kerr

 

 

William T. Kerr

 

 

Director

 

 

Principal Life Insurance Company

 

 

By:

/s/ William T. Kerr

 

 

William T. Kerr

 

 

Chairman, Human Resources Committee of the Board of Directors

 

 

Agreed to as of the 24th day of March 2009:

 

 

/s/ Larry D. Zimpleman

 

Larry D. Zimpleman

 

 

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