1 of 4

 
     *Target*— The level of achievement that is targeted for each goal. **•** 100% of base value paid at target level     *Cap*— The level of achievement at or above which the maximum cash incentive is provided. **•** 150% of base value paid at cap levelFor Tier I, Groups I, II and III, if 75 percent or more of a goal is achieved, then its actualvalue can range from 50 to 200 percent of the base value, depending on the level of attainment.     *Threshold*— The minimum level of achievement at which a cash incentive is provided. **•** 50% of base value paid at threshold level     *Target*— The level of achievement that is targeted for each goal. **•** 100% of base value paid at target level     *Cap*— The level of achievement at or above which the maximum cash incentive is provided. **•** 200% of base value paid at cap level**Tiers, Groups and base salary target**     **Tier I**     **Group 1**— 90% target     Chief Executive Officer     **Tier I Group II**— 60% targetChief Financial Officer; Executive Vice President, Farm Bureau Life; Executive Vice President, FarmBureau Mutual; Executive Vice President, EquiTrust Life     **Tier I**     **Group III**— 45% target     Balance of FBL Management Team     **Tier I**     **Group IV**— 33 % target     Executive Group — Grade 50 employees     **Tier II**— 15% target     Grade 45     All participants
 2 of 4

 
     **Tier III**— 12% target     Grade 44     All participants**Eligible Participants**Participation in the Management Performance Plan includes full-time, salary grade 44 and aboveemployees of FBL Financial Group, Inc. who are classified as active employment status as of thelast working day of the plan year. The plan does not cover employees participating in an employeeincentive plan, crop insurance incentive plan or any other incentive-eligible program. 1. Part-time or high-time, salary grade 44 and above employees of FBL Financial Group, Inc. arenot eligible to participate in the Management Performance Plan.  2. Agents, Agency Managers, temporary employees, independent contractors, per diem adjusters,and leased employees are not eligible to participate in the Management Performance Plan.  3. For employees who transfer from full-time, grade 44+ to part-time or high-time during theyear, the cash incentive will be prorated based upon completed service as an eligible employeeduring the plan year. For employees who transfer from full-time, grade 44+ to temporary, allrights to a cash incentive will be forfeited.  4. Cash incentive payments for eligible newly hired employees or current employees who becomeeligible for the Management Performance Plan during the plan year will be prorated based uponcompleted service as an eligible employee during the plan year.  5. In the event an employee’s active employment terminates prior to the last working day of theplan year by reason of retirement, reduction in complement, transfer to Farm Bureau agent orAgency Manager status, company transfer to a multi-line state Farm Bureau affiliate, militaryleave, permanent disability, or death, the cash incentive payment will be prorated based uponcompleted service as an eligible employee during the plan year, assuming all other criteriahave been met.  6. Payment for deceased employee’s cash incentive pay will be made to the beneficiary on recordfor group life insurance, if living; otherwise to surviving spouse, if living; otherwise toemployee’s estate.  7. In the event an employee’s active employment terminates prior to the last working day of theplan year for any other reason not included in bullet #5, all rights to a cash incentive willbe forfeited.Participation in the Management Performance Plan does not guarantee employment, nor doesparticipation at any time guarantee ongoing participation. In addition, the Management Developmentand Compensation Committee retains negative discretion to limit or eliminate payment of cashincentives to any or all Tiers, Groups, segments, teams or individuals in its sole discretion.
 3 of 4

 
**Base Salary**Cash incentive payments are made based on a percentage of the participant’s base salary, based onthe level of achievement of corporate goals as determined by the Management Development andCompensation Committee. For this purpose, base salary consists of the employee’s regular monthlyrate of pay, including any retro pay adjustments, during the plan year. Cash payments for unusedvacation at termination are not included in base salary.**Payments of Cash Incentives**Subject to the negative discretion of the Management Development and Compensation Committee tolimit or eliminate payment of cash incentives, payments will be made annually to each eligibleparticipant, subject to the attainment level of the goals, on or before March 15 for the prior planyear. For example, payment based upon attainment of 2009 goals will be made no later than March 15,2010.Cash incentive payments made under the Management Performance Plan are considered compensation forpurposes of calculating group life, accidental death & dismemberment, and disability incomebenefits. In addition, this cash incentive payment will be included in the calculation ofretirement benefits.Cash incentive payments will be made in a single, separate, lump sum payment and are subject tofederal and state taxes. Cash incentive payments may also be subject to court-ordered childsupport, garnishments, wage assignments and tax levies. Cash incentive payments are not subject tovoluntary payroll deductions, including but not limited to 401(k) loan payments, United Way,insurance premium and flex deductions. Cash incentive payments for active employees are eligiblefor the 401(k) deduction and 401(k) match provision.Employees Grade 50 and above may elect to defer cash incentive payments in accordance with allterms and conditions of the FBL Financial Group, Inc. Executive Salary and Bonus DeferredCompensation Plan.
 4 of 4