Exhibit 10.11

 

Summary of Horace Mann Educators Corporation Non-Employee Director Compensation

 

Compensation Element

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Amount

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Chairman Annual Retainer    $75,000 Board Member Annual Retainer    $25,000
Board Meeting Fee    $1,500/live or telephonic meeting Committee Chair Retainer
   $4,000/committee (audit chair is $7,500) Committee Meeting Fee   
$1,000/meeting ($1,500 for audit; $2,500 for audit chair) Deferred Fees   
Deferred fees in the form of common stock equivalents units include a 25%
matching addition. Stock Ownership Guidelines    2x annual cash retainer within
5 years; must retain all restricted shares (net of taxes) until guideline is met

 

Retainer fees are paid in May of each year. The retainer fees are prorated to
the extent that a non-employee director joins the Board after May.