For the purposes of this definition, no act or failure to act on the part of theEmployee shall be considered “willful” unless it is done, or omitted to be done, by theEmployee in bad faith or without a reasonable belief that the action or omission was inthe best interests of the Company or its Affiliates. Any act, or failure to act, basedon authority given pursuant to a resolution duly adopted by the Board, the instructionsof a more senior officer of the Company or the advice of counsel to the Company or itsAffiliates, will be conclusively presumed to be done, or omitted to be done, by theEmployee in good faith and in the best interests of the Company and its Affiliates.(f) **“Code”**shall mean the Internal Revenue Code of 1986, as amended. (g) **“Constructive Termination Without Cause”**shall mean termination by the Executive of hisemployment at his initiative following the occurrence of any of the following events withouthis consent: (i) A reduction in the Executive’s current Base Salary, or the current total number ofrestricted stock shares available under the Incentive Bonus which may (or may not) becomevested in Executive.  (ii) The failure of the Company to obtain the assumption in writing of its obligation toperform this Agreement by any successor to all or substantially all of the assets of theCompany within 15 calendar days after a merger, consolidation, sale or similar transaction;or  (iii) Any breach of this Agreement by the Company.Following written notice from the Executive, as described above, the Company shall have 15 calendardays in which to cure. If the Company fails to cure, the Executive’s termination shall becomeeffective on the 16th calendar day following the written notice.(h) **“Disability”**shall mean the Executive’s inability, due to physical incapacity, tosubstantially perform his duties and responsibilities under this Agreement as determined by amedical doctor selected by the Company and the Executive. If the Parties cannot agree on amedical doctor, each Party shall select a medical doctor and the two doctors shall select athird who shall be the approved medical doctor for this purpose. (i) **“Effective Date”**shall mean April 29, 2009. (j) **“Stock”**shall mean Class A Common Stock of the Company. (k) **“Incentive Bonus”**shall have the definition set forth in Section 5(a) of this Agreement. (l) **“Term of Employment”**shall mean the period specified in Section 2 below.SECTION 2. Term of Employment.(a) The Term of Employment shall begin on the Effective Date and end on December 31, 2009.Notwithstanding the foregoing, after the Effective Date, the Term of Employment may be earlierterminated by either Party in accordance with the provisions of Section 9 and the Articles ofIncorporation and the By-Laws of the Company.Employment Agreement between FBL Financial Group, Inc. and James E. Hohmann
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(b) Executive agrees to execute such resignations as deemed necessary by the Board for the boardof director and/or officer positions which Executive automatically assumes as a result of hisduties specified in Section 3 herein, with such resignations to become effective on December31, 2009 in the event the Executive is not appointed as the permanent CEO by such date.SECTION 3. Position, Duties and Responsibilities.(a) Commencing on the Effective Date and continuing until the date of December 31, 2009, theExecutive shall be employed as the Interim Chief Executive Officer of FBL and its AffiliatedCompanies and shall have the duties and responsibilities of the Chief Executive Officer as areset forth in the Articles of Incorporation and the By-Laws of FBL and its AffiliatedCompanies. The Executive, in carrying out his duties under this Agreement, shall report to theBoard. During the Term of Employment, the Executive shall devote such business time andattention to the business and affairs of the Company as shall be necessary to discharge hisresponsibilities hereunder and shall use his best efforts, skills and abilities to promote itsinterests. (b) Nothing herein shall preclude the Executive, subject to the approval of the Board, from (i)serving on the boards of directors of a reasonable number of other corporations, (ii) servingon the boards of a reasonable number of trade associations and/or charitable organizations,(iii) engaging in charitable activities and community affairs, and (iv) managing his personalinvestments and affairs, provided that such activities set forth in this Section 3(b) do notmaterially interfere with the proper performance of his duties and responsibilities underSection 3(a).SECTION 4. Base Salary.During the Term of Employment, the Executive shall be paid an annualized Base Salary, payable inaccordance with the regular payroll practices of the Company, of $669,600. This amount will bepayable in equal monthly installments of $55,800, and will be payable on such dates each monthduring the Term of Employment as all other salaried employees of the Company.SECTION 5. Incentive Compensation.During the Term of Employment, the Executive may qualify for an Incentive Bonus as provided for inthe Restricted Stock Agreement attached hereto as Exhibit B.SECTION 6. Pension. If at the end of the Term of Employment as Interim Chief Executive Officer, Executive applies forand is hired as Chief Executive Officer of FBL, time served as Interim chief Executive Officer, theamount paid as base salary, and time served under this agreement, shall be credited towards theCompany’s pension plan.SECTION 7. Employee Benefit Programs.During the Term of Employment, the Executive shall be entitled to participate in all employeepension and welfare benefit plans and programs made available to the Company’s senior levelexecutives or to its employees generally, as such plans or programs may be in effect from time totime, including, without limitation, pension, profit sharing, savings and other retirement plansor programs, 401(k), medical, dental, hospitalization, short-term and long-term disability andlife insurance plans,Employment Agreement between FBL Financial Group, Inc. and James E. Hohmann
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accidental death and dismemberment protection, travel accident insurance, and any other pension orretirement plans or programs and any other employee welfare benefit plans or programs that may besponsored by the Company from time to time, including any plans that supplement the above-listedtypes of plans or programs, whether funded or unfunded. Notwithstanding the above, Company shallhave no obligation to provide benefits to Executive for which Executive does not qualify pursuantto the terms of the benefit plans or programs as a result of the limited term of Executive’semployment under this Agreement.SECTION 8. Reimbursement of Business and Other Expenses; Executive Services; Vacation.(a) The Executive is authorized to incur reasonable expenses in carrying out his duties andresponsibilities under this Agreement and the Company shall promptly reimburse him for allbusiness expenses incurred in connection with carrying out the business of the Company,subject to documentation in accordance with the Company’s policies. (b) During the Term of Employment, the Company shall provide full-time secretarial support forthe Executive’s principal office. The Company shall make available for the Executive’s useappropriate office space (which shall be on the executive floor) and secretarial support whenhe performs services at the Company’s principal offices in West Des Moines, Iowa. (c) The Executive shall be entitled to reasonable vacation during the Term of Employment. (d) The Company shall reimburse the Executive for the cost of weekly travel transportationbetween West Des Moines and his home in North Barrington, Illinois; shall provide a vehicleand credit card for his business use while the Executive is in West Des Moines, Iowa; andshall reimburse the Executive for living expenses (to the extent previously authorized by theChairman of the FBL Board) incurred in West Des Moines, Iowa during the Term of Employment.The Company shall hold Executive harmless for any tax liability attributable to thereimbursement for such expenses.SECTION 9. Termination of Employment.(a) Termination by the Company for Cause. (i) In the event the Company terminates the Executive’s employment for Cause, theExecutive shall be entitled to Base Salary through the date of the termination; and  (ii) All restricted stock which was vested as of the termination date.(b) Termination without Cause or constructive termination without Cause.In the event the Executive’s employment is terminated by the Company without Cause, includingtermination due to Disability or death, or in the event there is a Constructive Termination withoutCause, the Executive shall be entitled to the following benefits: (i) Base Salary through the Term of Employment; and  (ii) All non-contingent restricted stock which was vested as of the terminationdate.  (iii) Such contingent restricted stock as appropriate based upon the goals attainedprior to the termination date.Employment Agreement between FBL Financial Group, Inc. and James E. Hohmann
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(c) Voluntary Termination.Except as otherwise provided herein, termination of employment by the Executive on his owninitiative, shall have the same consequences as provided in Section 9(a). A voluntary terminationunder this Section 9(c) shall be effective 30 calendar days after prior written notice is receivedby the Company.SECTION 10. Confidential Information; Prohibited Public Statements; Publicity.(a) The Company (as hereinafter specially defined for purposes of Sections 10 through 12hereof), pursuant to the Executive’s employment hereunder, provides him access to andconfides in him business methods and systems, techniques and methods of operationdeveloped at great expense by the Company (“Trade Secrets”) and which the Executive recognizesto be unique assets of the Company’s business. The Executive shall not, during or at any timeafter the Term of Employment, directly or indirectly, in any manner utilize ordisclose to any person, firm, corporation, association or other entity, except (i) whererequired by law, (ii) to directors, consultants or employees of the Company in the ordinarycourse of his duties or (iii) during his employment and in the ordinary course of his servicesas CEO for such use and disclosure as he shall reasonably determine to be in the bestinterest of the Company: (A) any such Trade Secrets, (B) any sales prospects, customerlists, products, research or data of any kind, or (C) any information relating tostrategic plans, sales, costs, profits or the financial condition of the Company or any of itscustomers or prospective customers, which are not generally known to the public orrecognized as standard practice in the industry in which the Company shall be engaged. TheExecutive further covenants and agrees that he will promptly deliver to the Company alltangible evidence of the knowledge and information described in (A), (B) and (C), above,prior to or at the termination of the Executive’s employment. (b) Neither the Executive nor the Company, its subsidiaries and affiliates and its and theirofficers or directors (collectively, the “Company Affiliated Entities”) shall, either duringor at any time after the Term of Employment, directly or indirectly make any public statement(including a private statement reasonably likely to be repeated publicly) reflecting adverselyon the Company Affiliated Entities or the Executive, as the case may be, or the businessprospects of the Company except for (i) such statements which the Executive may be required tomake in the ordinary course of his service as a member of, including Chairman of, the Board or(ii) with respect to each of the Executive and the Company Affiliated Entities, as otherwiserequired by applicable law. (c) Neither the Executive nor the Company Affiliated Entities shall publicly comment (includingprivate statements reasonably likely to be repeated publicly) on, or discuss the circumstancessurrounding, this Agreement, except as mutually agreed or as required by applicable law.SECTION 11. Noninterference and Nonsolicitation. (a) The Executive agrees that for a period of two (2) years following termination of employmentin accordance with this Agreement, the Executive will not, directly or indirectly, for himselfor on behalf of any third party at any time in any manner, request or cause any of theCompany’s customers to cancel or terminate any existing or continuing business relationshipwith the Company; solicit, entice, persuade, induce, request or otherwise cause any employee,officer or agent of the Company (other than clerical employees of the Company) to refrain fromrendering services to the Company or to terminate his or her relationship, contractual orotherwise, with theEmployment Agreement between FBL Financial Group, Inc. and James E. Hohmann
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Company; induce or attempt to influence any supplier to cease or refrain from doing business orto decline to do business with the Company; divert or attempt to divert any supplier from theCompany; or induce or attempt to influence any supplier to decline to do business with anybusinesses of the Company as such businesses are constituted immediately prior to thetermination of employment.(b) The Executive acknowledges that the Company is engaged in business throughout the UnitedStates. Accordingly and in view of the nature of his position and responsibilities, theExecutive agrees that the provisions of this Section shall be applicable to each state inwhich the Company may be engaged in business during the Term of Employment, or, with respectto the Executive’s obligations following termination of his employment, at the termination ofhis employment or at any time within the two-year period following the effective date of histermination of employment.SECTION 12. Equitable Remedies.The Executive acknowledges that his compliance with the covenants in Sections 10 and 11 of thisAgreement is necessary to protect the good will and other proprietary interests of the Company andthat, in the event of any violation by the Executive of the provisions of Section 10 or 11 of thisAgreement, the Company will sustain serious, irreparable and substantial harm to its business, theextent of which will be difficult to determine and impossible to remedy by an action at law formoney damages. Accordingly, the Executive agrees that, in the event of such violation or threatenedviolation by the Executive, the Company shall be entitled to any injunction before trial from anycourt of competent jurisdiction as a matter of course and upon the posting of not more than anominal bond in addition to all such other legal and equitable remedies as may be available to theCompany. The Executive further agrees that, in the event any of the provisions of Sections 10 and11 of this Agreement are determined by a court of competent jurisdiction to be contrary to anyapplicable statute, law or rule, or for any reason to be unenforceable as written, such court maymodify any of such provisions so as to permit enforcement thereof as thus modified.SECTION 13. Resolution of Disputes.Except as provided in Section 13, any disputes arising under or in connection with this Agreementshall be resolved by third party mediation of the dispute and, failing that, by bindingarbitration, to be held in a location mutually agreed to by the Parties, in accordance with therules and procedures of the American Arbitration Association. Judgment upon the award rendered bythe arbitrator(s) may be entered in any court having jurisdiction thereof. Each Party shall bearhis or its own costs of the mediation, arbitration or litigation, except that the Company shallbear all such costs if the Executive prevails in such mediation, arbitration or litigation on anymaterial issue.SECTION 14. Indemnification.(a) The Company agrees that if the Executive is made a party, or is threatened to be made aparty, to any action, suit or proceeding, whether civil, criminal, administrative orinvestigative (a “Proceeding”), by reason of the fact that he is or was a director, officer oremployee of the Company or is or was serving at the request of the Company as a director,officer, member, employee or agent of another corporation, partnership, joint venture, trustor other enterprise, including service with respect to employee benefit plans, whether or notthe basis of such Proceeding is the Executive’s alleged action in an official capacity whileserving as a director, officer, member, employee or agent, the Executive shall be indemnifiedand held harmless by the Company to the fullest extent legally permitted or authorized by theCompany’s certificate ofEmployment Agreement between FBL Financial Group, Inc. and James E. Hohmann
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incorporation or bylaws or resolutions of the Company’s Board of Directors or, if greater, bythe laws of the State of Iowa, against all cost, expense, liability and loss (including, withoutlimitation, attorney’s fees, judgments, fines, ERISA excise taxes or other liabilities orpenalties and amounts paid or to be paid in settlement) reasonably incurred or suffered by theExecutive in connection therewith, and such indemnification shall continue as to the Executiveeven if he has ceased to be a director, member, employee or agent of the Company or other entityand shall inure to the benefit of the Executive’s heirs, executors and administrators. TheCompany shall advance to the Executive all reasonable costs and expenses incurred by him inconnection with a Proceeding within 20 calendar days after receipt by the Company of a writtenrequest for such advance. Such request shall include an undertaking by the Executive to repaythe amount of such advance if it shall ultimately be determined that he is not entitled to beindemnified against such costs and expenses.(b) Neither the failure of the Company (including its board of directors, independent legalcounsel or shareholders) to have made a determination prior to the commencement of anyProceeding concerning payment of amounts claimed by the Executive under Section 14(a) abovethat indemnification of the Executive is proper because he has met the applicable standard ofconduct, nor a determination by the Company (including its board of directors, independentlegal counsel or shareholders) that the Executive has not met such applicable standard ofconduct, shall create a presumption that the Executive has not met the applicable standard ofconduct. (c) The Company agrees to continue and maintain a directors’ and officers’ liability insurancepolicy covering the Executive which is no less favorable than the policy covering other seniorofficers of the Company.SECTION 15. Assignability; Binding Nature.This Agreement shall be binding upon and inure to the benefit of the Parties and their respectivesuccessors, heirs (in the case of the Executive) and assigns. Rights or obligations of the Companyunder this Agreement may be assigned or transferred by the Company pursuant to a merger orconsolidation in which the Company is not the continuing entity, or the sale or liquidation of allor substantially all of the assets of the Company, provided that the assignee or transferee is thesuccessor to all or substantially all of the assets of the Company and such assignee or transfereeassumes the liabilities, obligations and duties of the Company, as contained in this Agreement,either contractually or as a matter of law. The Company further agrees that, in the event of a saleof assets or liquidation as described in the preceding sentence, it shall take whatever action itreasonably can in order to cause such assignee or transferee to expressly assume the liabilities,obligations and duties of the Company hereunder. No rights or obligations of the Executive underthis Agreement may be assigned or transferred by the Executive other than his rights tocompensation and benefits, which may be transferred only by will or operation of law.Employment Agreement between FBL Financial Group, Inc. and James E. Hohmann
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SECTION 16. Representation.The Company represents and warrants that it is fully authorized and empowered to enter into thisAgreement and that the performance of its obligations under this Agreement will not violate anyagreement between it and any other person, firm or organization. The Executive represents that theperformance of his obligations under this Agreement will not violate any agreement between him andany other person, firm or organization that would be violated by the performance of his obligationsunder this Agreement.SECTION 17. Entire Agreement.This Agreement contains the entire understanding and agreement between the Parties concerning thesubject matter hereof and supersedes all prior agreements, understandings, discussions,negotiations and undertakings, whether written or oral, between the Parties with respect thereto.SECTION 18. Amendment or Waiver.No provision in this Agreement may be amended unless such amendment is agreed to in writing andsigned by the Executive and an authorized officer of the Company. No waiver by either Party of anybreach by the other Party of any condition or provision contained in this Agreement to be performedby such other Party shall be deemed a waiver of a similar or dissimilar condition or provision atthe same or any prior or subsequent time. Any waiver must be in writing and signed by the Executiveor an authorized officer of the Company, as the case may be.SECTION 19. Severability.In the event that any provision or portion of this Agreement shall be determined to be invalid orunenforceable for any reason, in whole or in part, the remaining provisions of this Agreement shallbe unaffected thereby and shall remain in full force and effect to the fullest extent permitted bylaw so as to achieve the purposes of this Agreement.SECTION 20. Survivorship.Except as otherwise expressly set forth in this Agreement, the respective rights and obligations ofthe Parties hereunder, including the covenants and the agreements of Executive set forth inSections 10, 11 and 12, shall survive any termination of the Executive’s employment. This Agreementitself (as distinguished from the Executive’s employment) may not be terminated by either Partywithout the written consent of the other Party.SECTION 21. References.In the event of the Executive’s death or a judicial determination of his incompetence, reference inthis Agreement to the Executive shall be deemed, where appropriate, to refer to his beneficiary,estate or other legal representative.Employment Agreement between FBL Financial Group, Inc. and James E. Hohmann
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SECTION 22. Governing Law/Jurisdiction.This Agreement shall be governed in accordance with the laws of the State of Iowa without referenceto principles of conflict of laws.SECTION 23. Notices.All notices and other communications required or permitted hereunder shall be in writing andshall be deemed given when (a) delivered personally, (b) sent by certified or registered mail,postage prepaid, return receipt requested or (c) delivered by overnight courier (provided that awritten acknowledgment of receipt is obtained by the overnight courier) to the Party concerned atthe address indicated below or to such changed address as such Party may subsequently give suchnotice of:If to the Company: FBL Financial Group, Inc.5400 University Avenue