Exhibit 10.30

SECOND AMENDMENT AND WAIVER TO FIVE -YEAR CREDIT AGREEMENT

THIS SECOND AMENDMENT TO FIVE-YEAR CREDIT AGREEMENT, dated as of March 4, 2003
(this “Amendment”), amends the Five-Year Credit Agreement, dated as of October
31, 2000 (as heretofore amended, the “Credit Agreement”), among UnumProvident
Corporation, a Delaware corporation (the “Company”), the several financial
institutions from time to time party to this Agreement (collectively, the
“Banks”; individually, a “Bank”), Citicorp USA Inc. and Wachovia Bank, N.A., as
Co-Syndication Agents, Fleet National Bank, as Documentation Agent and Bank of
America, N.A., as Administrative Agent for the Banks (the “Agent”). Terms
defined in the Credit Agreement are, unless otherwise defined herein or the
context otherwise requires, used herein as defined therein.

WHEREAS, the parties hereto have entered into the Credit Agreement, which
provides for the Banks to extend certain credit facilities to the Company from
time to time; and

WHEREAS, the parties hereto desire to amend the Credit Agreement in certain
respects as hereinafter set forth;

NOW, THEREFORE, in consideration of the premises and for other good and valuable
consideration (the receipt and sufficiency of which are hereby acknowledged),
the parties hereto agree as follows:

SECTION 1. AMENDMENTS. The Credit Agreement is hereby amended as follows:

(a)                The definition of “Statutory EBIT Ratio” in Section 1.1 of
the Credit Agreement is hereby amended and restated in its entirety to read as
follows:

“Statutory EBIT” means net earnings before interest expense and tax expense in
accordance with SAP as set forth in column 1, line 31, page 4 in the 2001 Annual
Statement; provided that in the calculation of the Senior Debt to Statutory EBIT
Ratio for any period which includes the fiscal quarter ended December 31, 2002,
Statutory EBIT shall be adjusted by adding back the $24,876,486 decrease to EBIT
taken in such fiscal quarter in connection with the 2002 LTD Intercompany
Reinsurance Treaty; and provided further that any Statutory EBIT increases
arising from either the cancellation or which partially or wholly offset the
2002 LTD Intercompany Reinsurance Treaty shall be excluded from Statutory EBIT
to the extent that the Statutory EBIT increases are offset in federal income tax
and/or capital gains.”

(b)               Section 1.1 of the Credit Agreement shall be amended by the
addition of the following definition in proper alphabetical order:

“2002 LTD Intercompany Reinsurance Treaty” means the reinsurance treaty entered
into in the fiscal quarter ended December 31, 2002 between Provident Life and
Accident Insurance Company, The Paul Revere Life Insurance Company and UNUM Life
Insurance Company of America.”

 

--------------------------------------------------------------------------------

SECTION 2. WAIVER; LIMITATION OF WAIVER.

(a)                The Banks hereby waive the right to require compliance by the
Company with the requirements of Section 7.10(c) of the Credit Agreement for the
period ended December 31, 2002.

(b)               The waiver set forth herein shall be limited to its terms and
shall not constitute a waiver of any other rights the Banks may have from time
to time, including the right, upon the occurrence of an Event of Default other
than the breach of any agreement specifically waived hereunder, to accelerate
the maturity of the Loans and all payments, including interest payment, with
respect thereto.

SECTION 3. CONDITIONS PRECEDENT. This Agreement shall become effective when each
of the conditions precedent set forth in this Section 3 shall have been
satisfied, and notice thereof shall have been given by the Agent to the Company
and the Banks.

(a)                Receipt of Documents. The Agent shall have received this
Agreement, duly executed by the Company, the Agent and the Required Banks.

(b)               Fees. The Company shall have paid an amendment fee to each
Bank executing and delivering this Agreement before 5:00 p.m. Tuesday, March 4,
2003, equal to (i) $250,000 multiplied by (ii) the percentage equivalent
(expressed as a decimal, rounded to the ninth decimal place) as of the date
hereof of such Bank’s Commitment divided by the combined Commitments of each
signing Bank.

SECTION 4. REPRESENTATIONS AND WARRANTIES. To induce the Banks and the Agent to
enter into this Agreement, the Company hereby reaffirms, as of the date hereof,
its representations and warranties contained in the Credit Agreement, as hereby
amended, and the Company additionally represents and warrants to the Agent and
each Bank as follows:

(a)                Due Authorization, Non-Contravention, etc. The execution,
delivery and performance by the Company of this Agreement are within the
Company’s corporate powers, have been duly authorized by all necessary
corporation action, and do not contravene the Company’s Organization Documents;
contravene any contractual restriction, law or governmental regulation or court
decree or order binding on or affecting the Company; or result in, or require
the creation or imposition of, any Lien on any of the Company’s properties.

(b)               Governmental Approval, Regulation, etc. No authorization or
approval or other action by, and no notice to or filing with, any governmental
authority or regulatory body or other Person is required for the due execution,
delivery or performance by the Company of this Agreement.

(c)                Validity, etc. This Agreement constitutes the legal, valid
and binding obligation of the Company enforceable in accordance with its terms,
except to the extent enforceability thereof is limited by bankruptcy, insolvency
or other laws relating to, or affecting enforcement of, creditors’ rights in
general, and general principles of equity.

SECTION 5. MISCELLANEOUS.

- 2 -

--------------------------------------------------------------------------------

(a)                Continuing Effectiveness, etc. This Agreement shall be deemed
to be an amendment to the Credit Agreement, and the Credit Agreement, as amended
hereby, shall remain in full force and effect and is hereby ratified, approved
and confirmed in each and every respect. After the effectiveness of this
Agreement in accordance with its terms, all references to the Credit Agreement
in the Loan Documents or in any other document, instrument, agreement or writing
shall be deemed to refer to the Credit Agreement as amended hereby.

(b)               Payment of Costs and Expenses. The Company agrees to pay on
demand all expenses of the Agent (including the fees and out-of-pocket expenses
of counsel to the Agent) in connection with the negotiation, preparation,
execution and delivery of this Agreement.

(c)                Severability. Any provision of this Agreement which is
prohibited or unenforceable in any jurisdiction shall, as to such provision and
such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions of this Agreement
or affecting the validity or enforceability of such provision in any other
jurisdiction.

(d)               Headings. The various headings of this Agreement are inserted
for convenience only and shall not affect the meaning or interpretation of this
Agreement or any provisions hereof.

(e)                Execution in Counterparts. This Agreement may be executed by
the parties hereto in several counterparts, each of which shall be deemed to be
an original and all of which shall constitute together but one and the same
agreement.

(f)                Governing Law. THIS AGREEMENT SHALL BE DEEMED TO BE A
CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK.

(g)               Successors and Assigns. This Agreement shall be binding upon
and shall inure to the benefit of the parties hereto and their respective
successors and assigns.

- 3 -

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed by their proper and duly authorized officers as of the day and year
first above written.

 

 

 

 

UNUMPROVIDENT CORPORATION

 

 

 

 

By: 

/s/ ROBERT C. GREVING

 

 

 

 

 

--------------------------------------------------------------------------------

 

 

 

 

Name: 

ROBERT C. GREVING

 

 

 

 

Title: 

SENIOR VICE PRESIDENT & CHIEF
FINANCIAL OFFICER

 

 

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed by their proper and duly authorized officers as of the day and year
first above written.

  

 

 

 

BANK OF AMERICA, N.A., as Agent and as a
Bank

 

 

 

By: 

/s/ LESLIE NANNEN

 

 

 

 

 

--------------------------------------------------------------------------------

 

 

 

 

Name: 

Leslie Nannen

 

 

 

 

Title: 

Vice President

 

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed by their proper and duly authorized officers as of the day and year
first above written.

  

 

 

 

CITICORP USA, INC.

 

 

 

By: 

/s/ DAVID A DODGE

 

 

 

 

 

--------------------------------------------------------------------------------

 

 

 

 

Name: 

DAVID A DODGE

 

 

 

 

Title: 

Managing Director

 

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed by their proper and duly authorized officers as of the day and year
first above written.

  

 

 

 

WACHOVIA BANK, National Association

 

 

 

By: 

/s/ KIMBERLY SHAFFER

 

 

 

 

 

--------------------------------------------------------------------------------

 

 

 

 

Name: 

Kimberly Shaffer

 

 

 

 

Title: 

Director

 

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed by their proper and duly authorized officers as of the day and year
first above written.

  

 

 

 

FLEET NATIONAL BANK

 

 

 

By: 

/s/ AMY B. PEDEN

 

 

 

 

 

--------------------------------------------------------------------------------

 

 

 

 

Name: 

Amy B. Peden

 

 

 

 

Title: 

Vice President

 

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed by their proper and duly authorized officers as of the day and year
first above written.

  

 

 

 

BANK ONE, NA

 

 

 

By: 

/s/ MARK L. GOLDSTEIN

 

 

 

 

 

--------------------------------------------------------------------------------

 

 

 

 

Name: 

Mark L. Goldstein

 

 

 

 

Title: 

Managing Director

 

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed by their proper and duly authorized officers as of the day and year
first above written.

 

 

 

 

JPMORGAN CHASE BANK

 

 

 

 

By: 

/s/ HEATHER A. LINDSTROM

 

 

 

 

 

--------------------------------------------------------------------------------

 

 

 

 

Name: 

Heather A. Lindstrom

 

 

 

 

Title: 

Vice President

 

 

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed by their proper and duly authorized officers as of the day and year
first above written.

 

 

 

 

AMSOUTH BANK

 

 

 

 

By: 

/s/ TRACY L BROWN

 

 

 

 

 

--------------------------------------------------------------------------------

 

 

 

 

Name: 

Tracy L. Brown

 

 

 

 

Title: 

Vice President

 

 

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed by their proper and duly authorized officers as of the day and year
first above written.

 

 

 

 

MIZUHO CORPORATE BANK, LTD.

 

 

 

 

By: 

/s/ RAYMOND VENTURA

 

 

 

 

 

--------------------------------------------------------------------------------

 

 

 

 

Name: 

Raymond Ventura

 

 

 

 

Title: 

Senior Vice President

 

 

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed by their proper and duly authorized officers as of the day and year
first above written.

 

 

 

 

LLOYDS TSB BANK PLC

 

 

 

 

By: 

/s/ MICHAEL J GILLIGAN

 

 

 

 

 

--------------------------------------------------------------------------------

 

 

 

 

Name: 

Michael J. Gilligan

 

 

 

 

Title: 

Director, Financial Institutions, USA

 

 

 

 

 

 

 

 

 

By: 

/s/ MATTHEW S.R. TUCK

 

 

 

 

 

--------------------------------------------------------------------------------

 

 

 

 

Name: 

Matthew S.R. Tuck

 

 

 

 

Title: 

Vice President, Financial Institutions, USA

 

 

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed by their proper and duly authorized officers as of the day and year
first above written.

 

 

 

ROYAL BANK OF CANADA

 

 

 

 

By: 

/s/ ALEXANDER BIRR

 

 

 

 

 

--------------------------------------------------------------------------------

 

 

 

 

Name: 

Alexander Birr

 

 

 

 

Title: 

Senior Manager