Document:

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                                                                   EXHIBIT 10.37

                       NEW ENGLAND LIFE INSURANCE COMPANY

                    SELECT EMPLOYEES SUPPLEMENTAL 401k PLAN

As amended and restated effective January 1, 2000.
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                               TABLE OF CONTENTS

I.   PURPOSE...................................................................1
     1.01 Purpose..............................................................1
     1.02 Prior Documents......................................................1

II.  DEFINITIONS...............................................................1
     2.01 Defined Terms........................................................1

III. ELIGIBILITY...............................................................2
     3.01 Eligibility..........................................................2

IV.  CONTRIBUTION CREDIT.......................................................2
     4.01 Contribution Credit Amount...........................................2
     4.02 Accumulation of Credit...............................................2
     4.03 Vesting..............................................................3
     4.04 Time and Form of Payment.............................................3
     4.05 Nonalienation of Participant's Benefits..............................4

V.   ADMINISTRATION............................................................4
     5.01 Power and Authority..................................................4
     5.02 Indemnification......................................................4
     5.03 Facility of Payment..................................................4

VI.  AMENDMENT AND TERMINATION.................................................5
     Section 6.01 Amendment....................................................5
     Section 6.02 Termination..................................................5

VII. MISCELLANEOUS.............................................................5
     7.01 Unfunded Plan........................................................5
     7.02 No Right. Title or Interest in the Company's Assets..................5
     7.03 No Right to Continued Employment or Award............................5
     7.04 Governing Law........................................................6
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                                   I. PURPOSE

1.01 PURPOSE.

The New England Life Insurance Company Select Employees Supplemental 401k Plan
("Plan"), adopted as of February 15, 1989, is intended to constitute an
unfunded employer plan for the purpose of supplementing The New England Life
Insurance Company("Company") contributions to The New England 401k Plan and
Trust ("401k Plan"). This Plan shall be an unfunded plan maintained by the
Company solely for the purpose of providing deferred compensation to a select
group of management or highly-compensated employees within the meaning of
Sections 201(2), 301(a)(3) and 401(a)(1) of the Employee Retirement Income
Security Act.

1.02 PRIOR DOCUMENTS.

This Plan is the restatement with amendments of The New England Mutual Life
Insurance Company Select Employees Supplemental Progress Sharing Plan, The New
England Select Employees Supplemental Progress Sharing Plan, The New England
Select Employees Supplemental Profit Sharing Plan. The New England Select
Employees Supplemental 401k Plan and the New England Life Insurance Company
Select Employees Supplemental 401k Plan.

                                II. DEFINITIONS

2.01 DEFINED TERMS.

Terms used herein and not specifically defined below shall have the same
meaning as they have in the Company's 401k Plan.

Unless the context indicates otherwise, the following additional terms used
herein shall have the following meanings:

"Compensation" shall mean Compensation as defined under the New England 401k
Plan and Trust determined without regard to the Compensation Limit, and
including Employer contributions to the Employee's nonqualified deferred
compensation plan for Participant-elective deferral of Compensation.

"Compensation Limit" shall mean, with respect to a plan year, the limitation in
effect on the first day of such Plan Year as provided in Internal Revenue Code
("IRC") Section 401(a)(17), as such limit is amended from time to time by the
Secretary of the Treasury pursuant to IRC Section 415(d).

"Plan Year" shall mean, with respect to this Plan shall be the same year as the
plan year defined under the Company's 401k Plan.

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"Participant" shall mean an employee who is eligible pursuant to Section 3.01
hereof with respect to a Plan Year or who is credited with any Contribution
Credit which remains undistributed from this Plan.

                                III. ELIGIBILITY

3.01 ELIGIBILITY.

An employee of the Company who is a Senior Officer, or whose base compensation
exceeds $125,000, or whose Compensation exceeds $160,000, shall be eligible
pursuant to this Supplemental Plan with respect to a Plan Year for which she/he
is entitled to any contribution credit under Section 4.01.

                            IV. CONTRIBUTION CREDIT

4.01 CONTRIBUTION CREDIT AMOUNT.

For a plan year in which an employee is eligible to participate in this
Supplemental Plan, and for which such employee is entitled to an allocation of
the discretionary employer contribution under the Company's 401k Plan, such
employee shall be credited hereunder with an amount equal to the sum of (a) plus
(b) plus (c) plus (d) where:

(a) equals the Company's discretionary contribution under Section 3.02(c) of
    the 401k Plan, expressed as a percentage of such Participant's Compensation
    as defined under the 401k Plan, multiplied by the excess of such
    Participant's Compensation as defined under this Plan, over the Compensation
    Limit, and

(b) equals the percentage described in Subsection 4.01(a) hereof multiplied by
    such Participant's Compensation not in excess of the Compensation Limit, but
    only to the extent that such product cannot be contributed under the 401k
    Plan in any Plan Year as the result of the limitation of IRC Section
    415(c)(1)(A), as adjusted for such Plan Year pursuant to IRC Section 415(d),

(c) equals the Employer Qualified Non-elective Contribution percentage under
    Section 3.02(a) of the 401k Plan, multiplied by the sum of (i) the amount of
    such Participant's elective deferrals under the Company's nonqualified
    elective deferral plan, plus (ii) the amount of such Participant's
    Compensation as defined under this Plan in excess of the Compensation
    Limit, and

(d) equals the Matching Contribution percentage of two percent (2%) under the
    401k Plan multiplied by such Participant's eligible non-qualified elective
    deferral amount.

4.02 ACCUMULATION OF CREDIT.

A Participant shall be credited with the amount defined in Section 4.01 above
at the same time as the Company's contribution is allocated to such
Participant's employer contribution 401k account. Credits hereunder shall be
deemed to be invested at the Participant's election in one or more Investment
Funds offered under the Plan, but such election shall not be binding upon the
Committee (or the Trustee if a Rabbi Trust is established) with respect to any
actual investments. The terms, conditions and procedures under which a
Participant may elect to hypothetically invest

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his Accounts hereunder shall be specified by the Committee, in its sole
discretion, from time to time. Investment income or losses credited to such
accounts as of any Valuation Date shall reflect the actual experience (plus or
minus .25% as determined by the Committee) of the funds which correspond to
those in which the Participant's Accounts are deemed to be invested. The
Committee will set rules governing Participant's elections with respect to the
various Investment Funds including, but not limited to, the timing of deemed
transfers between and among funds, the frequency of fund exchange privileges and
liquidation procedures required for Plan distributions.

The Company, in its sole discretion, shall decide whether or not to underwrite
its obligations under the Plan by actually investing pay deferrals. If the
Company decides to invest pay deferrals made under the Plan, Participants and
Beneficiaries shall have no interest, (other than that of an unsecured general
creditor), in such actual investments even if they correspond to Investment
Funds. Any investment the Company makes in connection with the Plan shall at all
times remain part of the general assets of the Company whether or not held in a
Rabbi Trust.

4.03 VESTING

Each Participant whose employment shall cease by virtue of her/his retirement
(including disability or death, shall be fully vested in any accumulated amounts
credited under this Plan. Each Participant whose employment shall cease for any
reason except as described above shall be fully vested in any accumulated
amounts credited under Sections 4.01(b) and (c) of this Plan, but she/he shall
forfeit any and all accumulated amounts credited to her/him under Section
4.01(a) of this Plan unless such termination occurs on or after the January 1
following the completion of five years of service.

4.04 TIME AND FORM OF PAYMENT.

Payment on behalf of a Participant shall be made or shall commence within 30
days following the twelve/12 month period beginning on the later of termination
(including disability or death) or final credit with respect to such Participant
as follows:

(a)  In the event of such Participant's actual retirement; disability, or death
     without a named beneficiary, in a lump sum if such Participant's vested
     accumulated credit hereunder is not greater than $25,000; or if greater
     than $25,000, in ten annual installments unless such Participant elects
     another form of payment with consent of the Committee at least one year
     prior to commencement of payments;

(b)  In the event of such Participant's termination of employment other than as
     provided in Subsection 4.03(a) above, in a lump sum except that if such
     Participant's vested accumulated credit exceeds $25,000, then such
     Participant may elect with consent of the Committee, another form of
     distribution or further deferral of payment. Such election must be made at
     least one year prior to the date payments would otherwise commence.

(c)  In the event of the death of a Participant without a named beneficiary, or
     the death of a Participant's beneficiary who is entitled to payments under
     this Plan, payment of the balance of accumulated credit hereunder shall be
     paid in a lump sum.

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4.05 NONALIENATION OF PARTICIPANT'S BENEFITS.

No amount payable during the life of the Participant under this Plan shall be
subject in any manner to alienation by anticipation, sale, transfer, assignment,
bankruptcy, pledge, attachment, charge, or encumbrance of any kind nor in any
manner be subject to the debts or liabilities of any person, and any attempt to
so alienate or subject any such amounts whether presently or thereafter payable,
shall be void. If any person shall attempt to, or shall, alienate, sell,
transfer, assign, pledge, attach, charge, or otherwise encumber any amount
payable under this Plan, or any part thereof, or if by reason of his bankruptcy
or other event happening at any such time, such amount would be made subject to
her/his debts or liabilities or would otherwise not be enjoyed by her/him, then
the Committee, if it so elects, may direct that such amount be withheld and
that the same or any part thereof be paid or applied to or for the benefit of
such person, her/his spouse, children or other dependents, or any of them, in
such manner and proportion as the Committee may deem proper.

                               V. ADMINISTRATION

5.01 POWER AND AUTHORITY.

The Committee shall have full power and authority to construe, interpret and
administer this Plan. All decisions, actions, or interpretations of the
Committee shall be final, conclusive, and binding upon all parties. If any
person objects to any such interpretation or action, formally or informally,
the expenses of the Committee and its agents and counsel in connection with
such objections shall be chargeable against any amounts otherwise payable under
the Plan to or on account of the Participant.

5.02 INDEMNIFICATION.

No member of the Committee shall be personally liable by reason of any contract
or other instrument executed by her/him or on her/his behalf in her/his
capacity as a member of the Committee nor for any mistake of judgment made, and
the Company shall indemnify and hold harmless each member of the committee and
each other officer, employee, or director of the Company to whom any duty or
power relating to the administration or interpretation of the plan may be
allocated or delegated, against any cost or expense (including counsel fees) or
liability (including any sum paid in settlement of a claim with the approval of
the Board) arising out of any act or omission to act in connection with Plan
unless arising out of such person's own fraud or bad faith.

5.03 FACILITY OF PAYMENT.

If the Committee shall find that any person to whom any amount is payable under
the plan is unable to care for her/his affairs because of illness or accident,
or is a minor, or has died, then any payment due her/his or her/his estate
(unless a prior claim therefore has been made by a duly appointed legal
representative), may, if the Committee so directs the Company, be paid to
her/his spouse, a child, a relative, an institution maintaining or having
custody of such person, or any other person deemed by the Committee to be a
proper recipient on behalf of such person otherwise entitled to payment. Any
such payment shall be a complete discharge of the liability of the Committee
and the Company therefore.

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                         VI. AMENDMENT AND TERMINATION

SECTION 6.01 AMENDMENT

The Company reserves the right at any time, and from time to time, to amend the
Plan by action of its Board of Directors. Further, the Company may amend this
Plan at any time by means of a written instrument executed by the President of
the Company, except that any such amendment or group of amendments adopted on
the same date with respect to the same plan shall not increase or decrease the
annual cost of contributions to the Company for active plan participants and
former plan participants by more than two million dollars (exclusive of employee
voluntary contributions under a qualified plan or employee elective deferrals
under a nonqualified plan). No such amendment shall:

(a) decrease any interest of any Participant or Beneficiary existing
    immediately prior to such amendment, or

(b) reduce the non-forfeitable portion of a Participant's Accrued Benefit
    existing immediately prior to such amendment.

SECTION 6.02 TERMINATION.

The Company reserves the right at any time to terminate the Plan, and each
other Employer which adopts this Plan reserves the right to discontinue its
participation in the Plan at any time.

                               VII. MISCELLANEOUS

7.01 UNFUNDED PLAN.

This Plan is an unfunded deferred compensation arrangement for a select group
of management or highly compensated personnel.

7.02 NO RIGHT, TITLE OR INTEREST IN THE COMPANY'S ASSETS.

The participant shall have no right, title, or interest whatsoever in or to any
investments which the company may make to aid it in meeting its obligations
under this Plan. Nothing contained in the Plan, and no action taken pursuant to
its provisions, shall create or be construed to create a trust of any kind, or
a fiduciary relationship between the Company and any eligible employee or any
other person. To the extent that any person acquires a right to receive
payments from the Company under this Plan, such right shall be no greater than
the right of an unsecured general creditor of the Company. All payments to be
made hereunder shall be paid from the general funds of the company and no
special or separate fund shall be established and no segregation of assets
shall be made to assure payment of such amounts.

7.03 NO RIGHT TO CONTINUED EMPLOYMENT OR AWARD.

Nothing contained in this Plan shall give any employee the right to be retained
in the employ of the Company or affect the right of the Company to dismiss any
employee. No eligible employee shall receive any right to be granted an award
hereunder nor shall any such award be considered as compensation under any
employee benefit plan of the Company, except as otherwise determined by the
Company.

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7.04 GOVERNING LAW.

All rights under this plan shall be governed by and construed in accordance
with the laws of the Commonwealth of Massachusetts.

IN WITNESS WHEREOF, THIS AMENDMENT AND RESTATEMENT OF THE NEW ENGLAND LIFE
INSURANCE COMPANY SELECT EMPLOYEES SUPPLEMENTAL 401k PLAN is executed on behalf
of the Company, this 7th day of February 2000.

NEW ENGLAND LIFE INSURANCE COMPANY

By:
   ----------------------------------------------

Attest:
       ------------------------------------------

                                       6<PAGE>   1
                                                                       EX. 10.42

                    THE NEW ENGLAND SHORT-TERM INCENTIVE PLAN
         (For performance periods starting on or after January 1, 1999)

I.   Executive Incentive Plan

II.  Business Unit Management Incentive Plan
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                           I. EXECUTIVE INCENTIVE PLAN

A.  PURPOSE

         To provide a substantial portion of top management's total cash
         compensation potential on a variable basis depending upon business
         unit, corporate, and personal performance as measured by criteria
         approved by the Personnel Committee of the Board.

B.  OBJECTIVES

         1)       To offer participants total cash compensation opportunity
                  above market for significantly superior performance;

         2)       to offer pay opportunity less than market for below standard
                  performance;

         3)       to measure performance by criteria including:

                  a) financial

                  b) growth

                  c) non-financial

                  d) individual appraisal

                  e) judgment of the Personnel Committee

C.  PLAN DESIGN

         1)       Individual participants' performance will be measured by a
                  formula based on a weighted average of the appropriate
                  Business Unit and Individual Appraisal Factors.

         2)       Business Unit Factors will consist of weighted averages of
                  various criteria.

         3)       The target incentive potential is set at the median of
                  incentive targets for similar jobs at comparator companies. An
                  individual participant's calculated award may range between a
                  minimum of 0% and a maximum of 200% of target in any year, at
                  the discretion of the Personnel Committee. Executive Incentive
                  Plan awards shall be reported to the Board.

D.  ELIGIBILITY

         1)       Business Unit Presidents, Executive Vice Presidents and Senior
                  Executive Officers, including the CEO are eligible to
                  participate.
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E.  PERFORMANCE MEASURES AND EVALUATION

         Funding for participant's awards will be determined by computing
         weighted averages of the appropriate Business Unit and Individual
         Appraisal factors. Weighted criteria for each business unit factor
         consists of Financial, Growth, and Non-Financial measures. (See
         Incentive Summaries for weights and measures for the current plan
         year).

         Awards are calculated by evaluating results against benchmarked
         business plan goals for each measure according to the following
         performance scale:

<TABLE>
<CAPTION>
             FINANCIAL/GROWTH                                                         % OF STI TARGET
             ----------------                                                         ---------------
<S>                                                                                   <C>
             Better Than Plan:                                                          110 - 200%
             Achievement of Plan (Target):                                               90 -110%
             On Balance Substantial Achievement of Plan:                                 70 - 90%
             Below Plan:                                                                  0 - 70%

             NON-FINANCIAL/APPRAISAL
             -----------------------

             Exceptional Performance:                                                   170 - 200%
             Exceeds Requirements:                                                      120 - 170%
             Fully Meets Requirements:                                                   80 - 120%
             Some Requirements Not Met:                                                   0 - 80%
</TABLE>

F.  MAXIMUM AND TARGET PAYOUTS

         Payouts to Executive Vice Presidents/OBU Heads and selected others will
         be recommended by the Chairman with approval by the Board. As a general
         rule, incentive compensation for this group should not exceed 200% of a
         participant's targeted payout. (See addendum for incentive targets
         expressed as a percentage of base salary for current plan year).
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EXECUTIVE INCENTIVE PLAN ADDENDUM

<TABLE>
<CAPTION>
                   TITLE                           1999 STI TARGET %
                   -----                           -----------------
<S>                                                <C>
                    CEO                                  90 %
                Executive VP                             50 %
          Business Unit President                        45 %
</TABLE>
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                           EXECUTIVE INCENTIVE PROGRAM
                                 PLAN PROVISIONS

1.       PLAN TYPE - The plan is a discretionary incentive plan, with payouts
         based on the Personnel Committee's assessment of actual performance
         compared to pre-established quantitative and qualitative goals, and
         management's recommendation regarding individual performance
         evaluations. This plan is not a contract to pay any specific amount,
         and is not an employment agreement.

2.       PLAN PERIOD - Calendar year, with annual renewal, revision or
         termination at management discretion.

3.       ELIGIBILITY - Executive Vice Presidents and Senior Executive Officers
         are eligible to participate.

4.       TIMING OF PAYMENTS - Payment is made on or before April 1 following the
         end of the performance year.

5.       BENEFIT COVERAGE - Incentive award payments under this plan are
         includible in for benefit calculation purposes.

6.       ADMINISTRATION - All incentive plans are to be fully documented and
         reviewed annually. Human Resource Services is to provide ongoing
         administrative and program development support for these plans.

7.       METHOD OF PAYMENT - Participants may elect prior to the payment year to
         receive payments in cash or they may elect to defer.

8.       TERMINATION - To receive payment, participants must be actively at work
         at the time payments are actually made except in the event of death,
         disability, and early or normal retirement (i.e., eligible to receive
         pension benefits immediately).

9.       DEATH, DISABILITY, AND EARLY OR NORMAL RETIREMENT - Payments will be
         prorated based upon last day actively at work.

10.      POWER AND AUTHORITY - The Personnel Committee of the Board shall have
         full power and authority to construe, interpret, and administer this
         Plan. All decisions, actions, or interpretations of the Committee shall
         be final, conclusive, and binding upon all parties.

11.      RIGHT TO AMEND, SUSPEND, OR TERMINATE THIS PLAN - The Board reserves
         the right at any time to amend, suspend, or terminate this Plan in
         whole or in part, for any reason and without the consent of any
         Eligible Employee or Beneficiary, without regard to whether such
         amendment, suspension, or termination shall adversely affect the
         interest of any Eligible Employee or Beneficiary.

12.      RETROACTIVE AMENDMENT - Any amendment, modification, suspension, or
         termination of any provisions of this Plan may be retroactive.

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