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EXHIBIT 10(xi)




DIRECTOR STOCK OPTION AWARD


TERMS AND PROSPECTUS-SUPPLEMENT




The terms of your stock option award are set forth below in
question and answer form. A copy of the current Plan is
enclosed, and you can request another copy at any time. The
provisions of the Plan govern if there is any inconsistency. All
interpretations by the Committee established under the Plan
(Committee) are binding on you and
Jefferson-Pilot.


What is my stock option exercise price?


How many shares can I buy?




Does this option last indefinitely?


Can I exercise before then?


When do my Option Shares vest?


What if I leave the Board before then?




Will my Option Shares vest upon a change in
control?


Once Option Shares are vested, do I have until
February 13, 2015 to exercise?


This document constitutes part of a Prospectus covering
securities that have been registered


under the Securities Act of 1933.


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How do I exercise?


Are there different ways I can pay the exercise price?


Pay with your own funds.


Pay with JP shares.


Cashless exercise.


How are exercised shares delivered?


Will I get dividends on my option?


Can I voluntarily transfer my option to someone else?




Will I have to pay taxes if I exercise?


Am I responsible for withholding taxes?


Will I pay more taxes on a later sale of shares I keep? tax basis tax basis


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Will exercise after I stop working affect my Social Security?


Does this option guarantee me continued Board service for the
vesting period or perhaps for ten years?


How can I get answers to questions about my option?


Are there any restrictions on my sale of shares when I
exercise?










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EXHIBIT I


to


Stock Option Award


Terms and Prospectus-Supplement


Directors Plan




Change in control




|    |                                                                                                                                                                                                                                                                                                                                                                              
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(1) | Any person (as defined under Section 3(a)(9) of
    the Act)(Person) or group of persons (as
    provided in Rule 13d-3 under the Act) (Group)
    is or becomes the beneficial owner (as defined in
    Rule 13d-3 or otherwise under the Act), directly or
    indirectly (including as provided in Rule 13d-3(d)(1) under the
    Act), of 20% or more of either



| |     |                                                                                        
| | --- | ---------------------------------------------------------------------------------------
| | (A) | the then outstanding shares of JP common stock (the
    Outstanding Common Stock), or



| |     |                                                                                                                                                                              
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (B) | the combined voting power of the then outstanding JP voting
    securities entitled to vote generally in the election of
    directors (the Outstanding Voting Securities);



| |                                                                                                                                       
| | --------------------------------------------------------------------------------------------------------------------------------------
| | provided, however that for purposes of this paragraph 1),
    the following acquisitions shall not constitute a change in
    control:



| |       |                                                                                                                                              
| | ----- | ---------------------------------------------------------------------------------------------------------------------------------------------
| | (I)   | any acquisition directly from JP,                                                                                                            
|
| | (II)  | any acquisition by JP,                                                                                                                       
|
| | (III) | any acquisition by any employee benefit plan (or related trust)
    sponsored or maintained by JP or any corporation controlled by
    JP, or
|
| | (IV)  | any acquisition by any corporation pursuant to a transaction
    which complies with clauses (A), (B) and (C) of
    paragraph (3) below; or 



|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(2) | individuals who constitute the JP Board of Directors
    (Board) on February 14, 2005 (the
    Incumbent Board) cease for any reason to constitute
    at least a majority of the Board, provided that any person
    becoming a director subsequent to such date whose election, or
    nomination for election, is at any time approved by a vote of at
    least a majority of the directors then comprising the Incumbent
    Board shall be considered as though he or she were a member of
    the Incumbent Board but excluding, for this purpose, any such
    individual whose initial assumption of office as a director
    occurs as a result of (A) an actual or threatened election
    contest with respect to the election or removal of directors,
    (B) any other actual or threatened solicitation of proxies
    or consents by or on behalf of any Person or Group that
    beneficially owns 20% or more of the Outstanding Common Stock or
    the Outstanding Voting Securities, or (C) any other
    pressure from such a Person or Group; or
|   
|(3) | consummation of a reorganization, merger or consolidation or
    sale or other disposition of all or substantially all of the
    assets of JP or the acquisition of assets of another corporation
    (a Business Combination), in each case, unless,
    following such Business Combination,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           



| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (A) | all or substantially all of the individuals and entities who
    were the beneficial owners, respectively, of the Outstanding
    Common Stock and Outstanding Voting Securities immediately prior
    to such Business Combination beneficially own, directly or
    indirectly, more than 50% (40% for any Business Combination
    characterized by resolution of the Incumbent Board prior to its
    consummation as a merger of equals) of, respectively, the then
    outstanding shares of common stock and the combined voting power
    of the then outstanding voting securities entitled to vote
    generally in the election of directors, as the

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| |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
| |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |  | case may be, of the corporation resulting from such Business
    Combination (including without limitation, a corporation which
    as a result of such transaction owns JP or all or substantially
    all of JP assets either directly or through one or more
    subsidiaries) in substantially the same proportions as their
    ownership, immediately prior to such Business Combination, of
    the Outstanding Common Stock and Outstanding Voting Securities,
    as the case may be,



| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (B) | no person (excluding any employee benefit plan (or related
    trust) of JP, such corporation resulting from such Business
    Combination, or any corporation controlled by, controlling or
    under common control with either of them) beneficially owns,
    directly or indirectly, 20% or more of, respectively, the then
    outstanding shares of common stock of the corporation resulting
    from such Business Combination or the combined voting power of
    the then outstanding voting securities of such corporation
    except to the extent that such ownership existed prior to the
    Business Combination, and
|
| | (C) | at least a majority of the members of the board of directors of
    the corporation resulting from such Business Combination were
    members of the Incumbent Board at the time of the execution of
    the initial agreement, or of the action of the Board, providing
    for such Business Combination; or                                                                                                                                                                                                                                                                                                                        



|    |                                                                                                                                                           
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------
|(4) | approval by JP shareholders of a complete liquidation or
    dissolution of JP; or                                                                        
|   
|(5) | any other event or condition specified by the Board as
    effectively changing control such that early vesting of some or
    all options is appropriate.

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