Document:

EX-10.19

 Exhibit 10.19 

EMPLOYMENT AGREEMENT 
 (the
“Agreement”) 
 THIS AGREEMENT is dated the [Date], and is made BETWEEN:- 

 

	 	(1)	 XMotors Limited, the registered business address of which is at Room 1903,19F, Lee Garden One, 33 Hysan Avenue,
Causeway Bay, Hong Kong (hereafter referred to as the “Company”); and 

  

	 	(2)	 [Name], holder of HKID card No. [ID number] (Hereafter referred to as the “Employee”).

 NOW IT IS HEREBY AGREED as follows: - 

Definitions 
 IN this Agreement: 

“Associated Company” means a company which is a subsidiary or a holding company of the Company or a subsidiary (other than the
Company) of a holding company of the Company. 
 “Commencement Date” means [Date] or such other date to be agreed upon and,
if applicable, dependent on successfully obtaining an employment visa; 
 “Confidential Information” means the confidential
information of the Company’s or Associated Company’s clients, customers, business associates, introducers, prospects, agents, suppliers, consultants, including without limitation, information concerning the Company’s or Associated
Company’s methodology, plans, products and services, reports, technical operations, pricing and marketing methods, inventions, processes, compilations of names and physical and electronic addresses of clients, contacts, prospects, and
introducers, trade secrets, business budgets and financial statements and reports of the Company or Associated Company; 
 “Employee
Manual” means the Company Employee Manual outlining the rules, regulations, guidelines, and Code of Conduct that employees of the Company are required to follow, in existence and as may be introduced and/or amended by the Company from time to
time; if there are inconsistencies in the terms and conditions between this Agreement and the Employee Manual, the terms and conditions of this Agreement will supersede; 

  
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 “Reference to Clauses” is to clauses of this Agreement; 

“He”, “His” or “Him” refers to both genders. 

 

	1.	 Term of Appointment 

 

	 	(A)	 THE Company hereby appoints the Employee and the Employee hereby agrees to act as [Position], reporting to
[Manager] (the Employee’s “Manager”). 

  

	 	(B)	 THE said appointment shall commence on the Commencement Date and shall continue, unless or until terminated by
either party. Notice of termination shall be served in such a manner as stipulated in Part 8 of this Agreement. 

  

	 	(C)	 THE Company shall be at liberty from time to time to appoint any other person or persons to act jointly with
the Employee in the said office. 

  

	2.	 Probation Period 

The employment agreement is subject to a 6 Months probationary period from Commencement Date. 

 

	3.	 Roles & Responsibilities 

[                      ] 

THE Company shall be at liberty from time to time to adjust the Roles & Responsibilities of THE Employee. 

 

  
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	4.	 Working Hours and Places of Work 

 

	 	(A)	 Normal working hours 9:00am – 6:00pm Monday to Friday, with Saturday working in alternative week,
including 1.5 hour of flexible lunch break. 

  

	 	(B)	 THE Employee is generally expected to be present in the office and assuming his duties during the normal
working hours of the Company and is expected to fulfil his duties. The Company reserves the right to alter the established working hours to meeting business contingencies, from time to time. As may be required, the Employee will work outside or
beyond normal working hours or weekends or no holidays for no additional cash remuneration. 

  

	 	(C)	 THE Employee’s working location will be based at Hong Kong, however, THE Employee may be required to work
out of Hong Kong from time to time. 

  

	5.	 Confidentiality, Non Solicitation and Non-Competition 

  

	 	(A)	 THE Employee shall not, either during his employment or thereafter, use to the detriment or prejudice of the
Company or any Associated Company or, except in the proper course of his duties, divulge to any person any trade secrets or any other Confidential Information concerning the business or affairs of the Company or any Associated Company which may have
come to his knowledge during his employment. 

  

	 	(B)	 THE Employee will not for a period of one (1) month after the termination of his employment with the
Company (howsoever caused) either personally or by an agent directly or indirectly: 

  

	 	(i)	 either on his own account or for any other person, firm or company or in association with or in the employment
of any other person, firm or company solicit or endeavour to entice away from the Company or any Associated Company, any person, firm or company who within the twelve (12) months prior to or at the date of such termination was a client,
prospect, introducer of or in the habit of dealing with the Company or any Associated Company and with whom the Employee had business contact in the course of his employment; or 

 

	 	(ii)	 either on his own account or for any other person firm or company solicit or endeavour to entice away from the
Company or any Associated Company any person who within twelve (12) months from the date of termination of his employment with the Company was an employee, a director or a consultant of the Company or an Associated Company.

  

	 	(C)	 THE Employee will not at any time after the termination of his employment with the Company (howsoever caused)
either personally or by an agent directly or indirectly represent himself as being in any way, connected with or interested in the business of the Company or any Associated Company. 

  
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	 	(D)	 DURING his employment, the Employee shall not (unless otherwise agreed in writing by the Company) undertake any
other business or profession or be or become an employee or agent of any other company, firm or person or assist or have any financial interest in any other business or profession. The Employee may, however, hold or acquire by way of bona fide
investment shares or other securities of any company which are listed or dealt in on any recognised Stock Exchange. 

  

	 	(E)	 THE Employee will not for a period of one (1) month after the termination of his employment with the
Company (howsoever caused) either personally or by an agent, directly or indirectly, either on his own account or for any other person, firm, or company, or in association with, or in the employment of, any other person, firm, or company, be engaged
in, or concerned directly or indirectly in any capacity, in any business concern which is in competition with the business of the company or any Associated Company, in a position similar to the Position which this Employment Agreement concerns.

  

	 	(F)	 UPON the request of the Company and in any event upon the termination of his employment, the Employee shall
sign a hand-over note (the “Hand-Over Note”) confirming all the items that may be listed in the Hand-Over Note, including but not limited to: clients or customers lists, correspondence, memoranda, and all other documents, papers and
records which may have been prepared by him or have come into his possession, custody or control in the course of his employment. 

  

	6.	 Compensation and Other Benefits  

 

	 	(A)	 Salary: 

[HKD xxx] per month payable on or before the 7th day of the next month. This salary will
be subject to adjustment pursuant to the Company’s employee compensation policies in effect from time to time. 
  

	 	(B)	 Fixed Bonus & Performance Bonus 

THE Employee will be eligible to fixed bonus which equals to his monthly salary as of December of each calendar year. 

In addition, THE Employee will be eligible to be considered for an incentive bonus targeted at 200% of his average monthly salary of each
calendar year. The bonus (if any) will be awarded based on objective or subjective criteria established by the Company. 
 Any bonus for the
year in which THE Employee’s employment begins will be prorated, based on the number of days he is employed by the Company during the year. 

Any bonus for a year will be paid before March 31st of next year, but only if THE Employee
is still employed by the Company at the time of payment. The determinations of the Company regarding performance bonuses or commission payments are final. 

  
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	 	(C)	 MEDICAL SCHEME 

THE Employee will be enrolled in the Company’s medical scheme subject to the provisions of the scheme/plan as from time to time in force.

  

	 	(D)	 MANDATORY PROVIDENT FUNDS 

THE Employee will be enrolled in the Company’s Hong Kong provident funds. 

THE Company and THE Employee will each contribute the applicable maximum statutory amount of contribution to the Mandatory Provident Fund in
accordance with the requirements of the Mandatory Provident Fund Schemes Ordinance (the “MPFS Ordinance”). THE Employee’s contribution will be deducted from his salary in accordance with the provisions of the MPFS Ordinance. 

 

	7.	 Holidays, Sick Leave and Personal Leave 

 

	 	(A)	 The Employee is entitled to statutory holidays as specified in the Hong Kong Employment Ordinance.

  

	 	(B)	 The Employee is entitled to sick leave in accordance with the provisions of the Hong Kong Employment Ordinance
and upon production of a Medical Certificate, or otherwise at the discretion of The Employee’s manager in the Company. 

  

	 	(C)	 The Employee is entitled to paid annual leave as specified in the Hong Kong Employment Ordinance.

  

	 	(D)	 The Employee (for female) is entitled to maternity leave as specified in the Hong Kong Employment Ordinance.

  

	 	(E)	 The Employee (for male) is entitled to paternity leave as specified in the Hong Kong Employment Ordinance.

  

	8.	 Termination of Employment  

 

	 	(A)	 After successful completion of probation, the Employee is required to give one month’ notice in writing to
terminate this Agreement or provide pay-in-lieu of notice. 

  

	 	(B)	 In the event that the Company becomes entitled to terminate this Agreement after the Employee has successfully
completed probation, the Company shall give the Employee one month’ written notice or provide pay-in-lieu of notice. 

  
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	9.	 Novation 

THE Company may, at its sole discretion, novate this Agreement so as to transfer it into the name of an Associated Company, and the Employee
will at the request of the Company enter into a novation agreement with the Company and such Associated Company to effect such transfer and release the Company from its obligations hereunder. 

 

	10.	 Miscellaneous 

 

	 	(A)	 THIS Agreement shall supersede any agreements or arrangements, written or verbal, between the Employee and the
Company, or any of their respective representatives, relating to the present or future appointment of the Employee by the Company. 

  

	 	(B)	 ALL the provisions hereof are severable and distinct from one another and the invalidity, illegality or
unenforceability of any such provision shall not affect or impair the validity, legality or enforceability, of any of the remaining provisions hereof and any such invalidity, illegality or unenforceability in any jurisdiction shall not affect or
impair the validity, legality, enforceability thereof in any other jurisdictions. 

  

	 	(C)	 THIS Agreement shall be governed by and construed in all respects in accordance with the laws of Hong Kong
Special Administrative Region and the parties hereby irrevocably submit to the non-exclusive jurisdiction of courts of Hong Kong Special Administrative Region in respect of this Agreement.

  
  

The remainder of this page has been intentionally left blank 

  
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 SIGNED by 

for and on behalf of 

                          
                                         
  
 Name:     
 Date: 

SIGNED by 

                          
                                         
  
 Name: [employee’s name] 
 Date: 

 
  

  
 Page 7 of 7exhibit42secondsupplemen

                                                                                                                                                      GLOBE LIFE INC., as Issuer                    and         REGIONS BANK, as Trustee           ______________________         2.150% Senior Notes due 2030          ______________________                         SECOND SUPPLEMENTAL INDENTURE          Dated as of August 21, 2020                                                                                                    

 

                    SECOND SUPPLEMENTAL INDENTURE         THIS SECOND SUPPLEMENTAL INDENTURE (this “Second Supplemental  Indenture”), dated as of August 21, 2020, is between Globe Life Inc. (formerly known as  Torchmark Corporation), a Delaware corporation (the “Company”), and Regions Bank, as  trustee (the “Trustee”). All capitalized terms used but not otherwise defined herein shall have  the meaning set forth in the Base Indenture (as defined below).                           RECITALS OF THE COMPANY         WHEREAS, the Company and the Trustee executed and delivered an Indenture, dated as  of September 24, 2018 (the “Base Indenture” and, as amended and supplemented by this  Second Supplemental Indenture, the “Indenture”), to provide for the issuance by the Company  from time to time of the Company’s senior debt securities evidencing its unsecured and  unsubordinated indebtedness (the “Securities”), to be issued in one or more series as provided in  the Indenture.         WHEREAS, the Company has duly authorized the execution and delivery, and desires  and has requested the Trustee to join it in the execution and delivery, of this Second  Supplemental Indenture in order to establish and provide for the issuance by the Company of a  series of Securities designated as its 2.150% Senior Notes due 2030 (the “Notes”), on the terms  set forth herein.         WHEREAS, Sections 901(5) and 901(7) of the Base Indenture provide that without the  consent of Holders of the Securities of any series issued under the Indenture, the Company, when  authorized by or pursuant to a Board Resolution, and the Trustee, at any time and from time to  time, may enter into one or more indentures supplemental to the Base Indenture for such purpose.         WHEREAS, the Company desires to establish the form and terms of the Notes and to  modify, alter, supplement and change certain provisions of the Base Indenture for the benefit of  the Holders of the Notes (except as may be provided in a future supplemental indenture to the  Indenture applicable to the Notes (a “Future Supplemental Indenture”)).         WHEREAS, the Company has duly authorized the execution and delivery of this Second  Supplemental Indenture to provide for the issuance of the Notes and amendment of certain  provisions of the Base Indenture as herein provided, and all acts and things necessary to make  this Second Supplemental Indenture a valid, binding, and legal obligation of the Company and to  constitute a valid agreement of the Company, in accordance with its terms, have been done and  performed.         NOW, THEREFORE, for and in consideration of the premises and the purchase of the  Notes by the Holders thereof, it is mutually agreed, for the equal and proportionate benefit of all  Holders of the Notes, as follows:                                                                                                                            

 

                                    ARTICLE I       DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION         Section 101  Certain Defined Terms. Except as may be provided in a Future  Supplemental Indenture, for the benefit of the Holders of the Notes but no other series of  Securities under the Indenture, whether now or hereafter issued and Outstanding, Article I of the  Base Indenture shall be amended by adding the following defined terms to Section 101 in  appropriate alphabetical sequence, as follows:         “Comparable Treasury Issue” means the United States Treasury security selected by a  Reference Treasury Dealer as having an actual or interpolated maturity comparable to the  remaining term of the Notes called for redemption, that would be utilized, at the time of selection  and in accordance with customary financial practice, in pricing new issues of corporate debt  securities of comparable maturity to the remaining term of Notes called for redemption,  assuming for this purpose that the Notes being redeemed matured on the Par Call Date.         “Comparable Treasury Price” means, with respect to any Redemption Date, the  average, as determined by the Company, of the Reference Treasury Dealer Quotations for that  Redemption Date.          “Lien” means, with respect to any property of any person, any mortgage or deed of trust,  pledge, hypothecation, assignment, deposit arrangement, security interest, lien, charge,  encumbrance, preference, priority or other security agreement or preferential arrangement of any  kind or nature whatsoever on or with respect to such property (including any capital lease  obligation, conditional sale or other title retention agreement having substantially the same  economic effect as any of the foregoing or any sale and leaseback transaction).         “Permitted Lien” means:      (1)   Liens securing indebtedness owed by a Significant Subsidiary to another Significant           Subsidiary or to the Company;      (2)   pledges or deposits under workers’ compensation or other similar laws and judgment           Liens thereunder that are not currently dischargeable;      (3)   good faith deposits in connection with leases to which the Company or any           Significant Subsidiary is a party;      (4)   deposits to secure the Company’s public or statutory obligations;      (5)   deposits in connection with obtaining or maintaining self-insurance or obtaining the           benefits of any law, regulation or arrangement pertaining to unemployment insurance,           old age pensions, social security or similar matters;      (6)   deposits in litigation or other proceedings;      (7)   Liens created by or resulting from any judgments or awards against the Company or           any of its Significant Subsidiaries with respect to which the Company is in good faith                                         2                                                                                 

 

            prosecuting an appeal or other review proceedings, or Liens incurred by the Company           or any of its Significant Subsidiaries of for the purpose of obtaining a stay or           discharge in the course of any litigation to which the Company a party; or      (8)   Liens for taxes or assessments, governmental charges or levies not yet due or           delinquent, or which can be paid thereafter without penalty, or which are being           contested in good faith by appropriate proceedings.         “Primary Treasury Dealer” means a nationally recognized investment banking firm that  is a primary U.S. Government securities dealer in the United States.         “Prospectus Supplement” means the final prospectus supplement dated as of August 18,  2020 to the accompanying base prospectus dated as of September 24, 2018, contained in the  Company’s Registration Statement on Form S-3 (File No. 333-227501), such base prospectus  filed with the Securities and Exchange Commission on September 24, 2018 and such prospectus  supplement filed with the Securities and Exchange Commission on August 19, 2020, relating to  the offering of the Notes.         “Reference Treasury Dealer” means BofA Securities, Inc. and one other Primary  Treasury Dealer specified by the Company from time to time, and each of their respective  successors; provided, however, that if any of the foregoing shall cease to be a Primary Treasury  Dealer, the Company shall substitute therefor another nationally recognized investment banking  firm that is a Primary Treasury Dealer.         “Reference Treasury Dealer Quotation” means, on any Redemption Date, the average,  as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue  (expressed in each case as a percentage of its principal amount) quoted in writing to the  Company by each Reference Treasury Dealer at 3:30 p.m., New York City time, on the third  business day preceding that Redemption Date.         “Remaining Scheduled Payments” means the remaining scheduled payments of  principal of and interest on the Notes called for redemption that would be due after the related  Redemption Date but for that redemption, assuming for this purpose that the Notes being  redeemed matured on the Par Call Date (excluding any portion of such payments of interest  accrued and unpaid to, but excluding, the Redemption Date); provided, however, that if such  Redemption Date is not an Interest Payment Date with respect to the Notes called for redemption,  the amount of the next succeeding scheduled interest payment on such Notes will be reduced by  the amount of interest accrued to such Redemption Date.         “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal  to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a  price for the Comparable Treasury Issue (expressed as a percentage of its principal amount)  equal to the Comparable Treasury Price for that Redemption Date.                                          3                                                                                 

 

                                    ARTICLE II                             TERMS OF THE NOTES         Section 201  Terms of the Notes. The following terms relating to the Notes are hereby  established pursuant to the terms and conditions set forth in the Prospectus Supplement:       (a)  The Notes are hereby created and designated a series of Securities under the Base  Indenture. The title of the Notes shall be “2.150% Senior Notes due 2030” and shall bear a  CUSIP number of 37959E AA0 and an ISIN number of US37959EAA01.       (b)  The aggregate principal amount of Notes that may be initially authenticated and  delivered under the Indenture shall be $350,000,000 (except, in each case, for Notes  authenticated and delivered upon registration or transfer of, or in exchange for, or in lieu of,  other Notes pursuant to Sections 304, 305, 306, 906, 1107 or 1305 of the Base Indenture). Under  a Board Resolution, Officers’ Certificate pursuant to Board Resolutions or a supplemental  indenture, the Company may from time to time, without the consent of the Holders of Notes,  issue additional Notes (in any such case “Additional Notes”) having the same ranking and the  same interest rate, maturity and other terms as the Notes; provided that if any such Additional  Notes are not fungible with other Notes issued under this Indenture for U.S. federal income tax  or U.S. federal securities law purposes, then such Additional Notes will be identified by one or  more separate CUSIP numbers. Any Additional Notes and the existing Notes will constitute a  single series under the Indenture, subject to the immediately preceding sentence, and all  references to the relevant Notes herein shall include the Additional Notes unless the context  otherwise requires.       (c)  The Stated Maturity for the Notes shall be August 15, 2030, unless earlier redeemed or  repurchased in accordance with the provisions of this Second Supplemental Indenture. The Notes  shall be payable and may be presented for payment, purchase, redemption, registration of  transfer and exchange at the office of the Company maintained for such purpose, which shall  initially be the Corporate Trust Office of the Trustee.       (d)  The rate at which the Notes shall bear interest shall be 2.150% per annum. The date  from which interest shall accrue on the Notes shall be August 21, 2020, or the most recent  Interest Payment Date to which interest has been paid or provided for; the Interest Payment  Dates for the Notes shall be February 15 and August 15 of each year, commencing February 15,  2021 (if an Interest Payment Date falls on a day that is not a Business Day, then the applicable  interest payment will be made on the next succeeding Business Day and no additional interest  will accrue as a result of such delayed payment); the initial interest period will be the period  from and including August 21, 2020, to, but excluding, the initial Interest Payment Date, and the  subsequent interest periods will be the periods from and including an Interest Payment Date to,  but excluding, the next Interest Payment Date or the Stated Maturity, as the case may be; the  interest so payable, and punctually paid or duly provided for, on any Interest Payment Date, will  be paid to the Person in whose name the Note (or one or more Predecessor Securities) is  registered at the close of business on the Regular Record Date for such interest, which shall be  February 1 or August 1 (whether or not a Business Day), as the case may be, next preceding such  Interest Payment Date. Payment of principal of (and premium and Make-Whole Amounts, if any,  on) and any such interest or Additional Amounts, if any, on the Notes will be made at the                                         4                                                                                 

 

   Corporate Trust Office of the Trustee in such coin or currency of the United States of America as  at the time of payment is legal tender for payment of public and private debts; provided,  however, that at the option of the Company payment of interest may be made by check mailed to  the address of the Person entitled thereto as such address shall appear in the Security Register;  provided, further, however, that so long as the Notes are registered to Cede & Co., such payment  will be made by wire transfer in accordance with the procedures established by The Depository  Trust Company (“DTC”). Interest on the Notes will be computed on the basis of a 360-day year  composed of twelve 30-day months.       (e)  The Notes shall be initially issuable in global form (each such Note, a “Global Note”).  The Global Notes and the Trustee’s certificate of authentication thereon shall be substantially in  the form of Exhibit A to this Second Supplemental Indenture with respect to the Notes. Each  Global Note shall represent the outstanding Notes as shall be specified therein and each shall  provide that it shall represent the aggregate amount of outstanding Notes from time to time  endorsed thereon and that the aggregate amount of outstanding Notes represented thereby may  from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions.  Any endorsement of a Global Note to reflect the amount of any increase or decrease in the  amount of outstanding Notes represented thereby shall be made by the Trustee or the Security  Registrar, in accordance with Sections 203 and 305 of the Base Indenture.       (f)  The depositary for such Global Notes (the “Depositary”) shall be DTC, New York,  New York. The Security Registrar with respect to the Global Notes shall be the Trustee.       (g)  The Notes shall be defeasible pursuant to Section 1402 or Section 1403 of the Base  Indenture. Covenant defeasance contained in Section 1403 of the Base Indenture shall apply to  the covenants contained in Sections 1006 and 1007 of the Indenture, as such covenants are  amended pursuant to Article III of this Second Supplemental Indenture.       (h)  The Notes shall be redeemable pursuant to Section 1101 of the Base Indenture pursuant  to the following terms:            (i)  The Notes will be redeemable in whole or in part at any time and from time to      time, at the option of the Company, prior to May 15, 2030 (three months prior to the Stated      Maturity of the Notes) (the “Par Call Date”), at a Redemption Price equal to the greater of:               (1) 100% of the principal amount of the Notes to be redeemed; and                (2) the sum of the present values of the Remaining Scheduled Payments on such              Notes to be redeemed that would be due if such Notes matured on the Par Call              Date, discounted to the date of redemption, on a semi-annual basis (assuming a              360-day year consisting of twelve 30-day months), at a rate equal to the sum of              the Treasury Rate plus 25 basis points,               plus, in each case, accrued and unpaid interest on the principal amount of the              Notes being redeemed to, but excluding, the Redemption Date.           (ii)  At any time and from time to time on or after the Par Call Date for the Notes, the      Notes will be redeemable at the Company’s option, in whole or in part, at a Redemption                                         5                                                                                 

 

       Price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and      unpaid interest on the principal amount being redeemed to, but excluding, the Redemption      Date.           (iii)  Notice of redemption shall be given in writing and mailed, first-class postage      prepaid or by overnight courier guaranteeing next-day delivery, or, in the case of Global      Notes, sent electronically in accordance with the procedures of DTC, to the Trustee, the      Paying Agent and each Holder of the Notes to be redeemed, not less than thirty (30) nor      more than sixty (60) days prior to the Redemption Date, at the Holder’s address appearing      in the Security Register. All notices of redemption shall contain the information set forth in      Section 1104 of the Base Indenture.           (iv)  Any exercise of the Company’s option to redeem the Notes will be done in      compliance with the Indenture.           (v)  If the Company elects to redeem only a portion of the Notes, the Trustee shall      select the Notes to be redeemed pro rata, by lot, or determine such other method for      selecting the particular Notes to be redeemed which the Trustee deems to be fair and      appropriate, in each case in accordance with the procedures of DTC to the extent      applicable; provided further, that the unredeemed portion of the principal amount of any      Note shall be in a denomination of not less than $2,000.00.           (vi)  Once notice of redemption is sent, any Notes called for redemption will become      due and payable on the Redemption Date and at the applicable Redemption Price, plus, in      each case, accrued and unpaid interest thereon to, but excluding, the Redemption Date,      subject to any conditions precedent specified in such notice.          (vii)  Unless the Company defaults in payment of the Redemption Price and accrued      interest, interest will cease to accrue on the Notes called for redemption hereunder on and      after the Redemption Date.       (i)  The Notes shall not be subject to any sinking fund pursuant to Section 1201 of the Base  Indenture.       (j)  The Notes shall be issuable in minimum denominations of $2,000.00 and integral  multiples of $1,000.00 in excess thereof.       (k)  Holders of the Notes will not have the option to have the Notes repaid prior to the  Stated Maturity.                                    ARTICLE III                                  COVENANTS         Section 301  Except as may be provided in a Future Supplemental Indenture, for the  benefit of the Holders of the Notes but no other series of Securities under the Indenture, whether  now or hereafter issued and Outstanding, Article X of the Base Indenture shall be amended by  adding the following new Sections 1006 and 1007 thereto, each as set forth below:                                         6                                                                                 

 

         “Section 1006. Limitations on Liens.         As long as any of the Notes are outstanding, the Company will not, and will not permit  any of its Subsidiaries to, directly or indirectly, create, incur, assume, guarantee or suffer to exist  any indebtedness for borrowed money secured by a Lien, other than a Permitted Lien, on any  Voting Securities of any of its Significant Subsidiaries that is owned directly or indirectly by the  Company or any of its Subsidiaries, in each case whether owned at the date of the initial issuance  of the Notes or thereafter acquired, or any interest therein or any income or profits therefrom,  unless the Notes and, if the Company so elects, any other indebtedness of the Company ranking  at least on an equal basis with the Notes, will be secured equally and ratably with, or prior to,  such other indebtedness secured by such Lien until such time as such indebtedness is no longer  secured by such Lien.”         “Section 1007. Limitations on Sales of Capital Stock of Significant Subsidiaries.         As long as any of the Notes are outstanding, the Company will not, and will not permit  any of its Subsidiaries to sell, assign, transfer or otherwise dispose of and will not permit any of  its Significant Subsidiaries to issue, directly or indirectly, any shares of Capital Stock of any  Significant Subsidiary, unless:         (1)   the entire Capital Stock of such Significant Subsidiary is disposed of in a single  transaction or series of related transactions for consideration consisting of cash or property,  which, in the good faith opinion of the Board of Directors, is at least equal to the fair market  value of such Capital Stock;         (2)  such issuance, sale, assignment, transfer or other disposition is to the Company or  one or more of the Company’s other Significant Subsidiaries; or         (3)  such issuance, sale, assignment, transfer or other disposition is required to comply  with an order of a court or regulatory authority of competent jurisdiction, other than an order  issued at the Company’s request or the request of any Significant Subsidiary.”                                    ARTICLE IV                                MISCELLANEOUS         Section 401  This Second Supplemental Indenture and the Notes shall be governed by  and construed in accordance with the laws of the State of New York, without regard to principles  of conflicts of laws. This Second Supplemental Indenture is subject to the provisions of the Trust  Indenture Act that are required to be part of the Indenture and shall, to the extent applicable, be  governed by such provisions.         Section 402  In case any provision in this Second Supplemental Indenture or in the Notes  shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining  provisions shall not in any way be affected or impaired thereby.         Section 403  This Second Supplemental Indenture may be executed in counterparts, each  of which will be an original, but such counterparts will together constitute but one and the same                                         7                                                                                 

 

   Second Supplemental Indenture. The exchange of copies of this Second Supplemental Indenture  and pages by facsimile, .pdf transmission, email or other electronic means shall constitute  effective execution and delivery of this Second Supplemental Indenture for all purposes.  Signatures of the parties hereto transmitted by facsimile, .pdf transmission, email or other  electronic means shall be deemed to be their original signatures for all purposes.         Section 404  The Base Indenture, as supplemented and amended by this Second  Supplemental Indenture, is in all respects ratified and confirmed, and the Base Indenture and this  Second Supplemental Indenture shall be read, taken and construed as one and the same  instrument with respect to the Notes. All provisions included in this Second Supplemental  Indenture supersede any conflicting provisions included in the Base Indenture with respect to the  Notes, unless not permitted by law. The Trustee accepts the trusts created by the Base Indenture,  as supplemented by this Second Supplemental Indenture, and agrees to perform the same upon  the terms and conditions of the Base Indenture, as supplemented by this Second Supplemental  Indenture.         Section 405  The provisions of this Second Supplemental Indenture shall become  effective as of the date hereof.         Section 406  Notwithstanding anything else to the contrary herein, the terms and  provisions of this Second Supplemental Indenture shall apply only to the Notes (and any  Additional Notes) and shall not apply to any other series of Securities under the Indenture and  this Second Supplemental Indenture shall not and does not otherwise affect, modify, alter,  supplement or change the terms and provisions of any other series of Securities under the  Indenture, whether now or hereafter issued and Outstanding. For the purposes of the applicability  of Section 901(13) to the Notes and this Second Supplemental Indenture, the reference to the  “final prospectus supplement” in Section 901(13) shall be deemed to be to the Prospectus  Supplement.         Section 407  The recitals contained herein and in the Notes (including any Additional  Notes) shall be taken as the statements of the Company, and the Trustee assumes no  responsibility for their correctness. The Trustee makes no representations as to the validity or  sufficiency of this Second Supplemental Indenture, the Notes or any Additional Notes, except  that the Trustee represents that it is duly authorized to execute and deliver this Second  Supplemental Indenture, authenticate the Notes and any Additional Notes and perform its  obligations hereunder. The Trustee shall not be accountable for the use or application by the  Company of the Notes or any Additional Notes or the proceeds thereof.                                          8                                                                                 

 

      IN WITNESS WHEREOF, the parties hereto have caused this Second Supplemental  Indenture to be duly executed as of the date first above written.                                       GLOBE LIFE INC.                                       By:    /s/ Frank M. Svoboda                                      Name:  Frank M. Svoboda                                      Title:  EVP & CFO                                               REGIONS BANK                                       By:    /s/ Deloris B. Lynch                                      Name:  Deloris B. Lynch                                      Title:  Vice President                              [Signature page to Second Supplemental Indenture]                                                                                   

 

                                                                     Exhibit A                                 Form of Global Note   THIS SECURITY IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE  HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE  DEPOSITORY TRUST COMPANY OR A NOMINEE THEREOF. THIS SECURITY MAY  NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND  NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN  THE NAME OF ANY PERSON OTHER THAN THE DEPOSITORY TRUST COMPANY OR  A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN  THE INDENTURE.   UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE  OF THE DEPOSITORY TRUST COMPANY TO THE ISSUER OR ITS AGENT FOR  REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT AND SUCH CERTIFICATE  ISSUED IN EXCHANGE FOR THIS CERTIFICATE IS REGISTERED IN THE NAME OF  CEDE & CO., OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED  REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, ANY TRANSFER,  PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY  PERSON IS WRONGFUL, AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS  AN INTEREST HEREIN.                                                                                                                            

 

                                Globe Life Inc.   No. []                                              U.S.$ []                                                       CUSIP No.   37959E AA0                                                       ISIN No. US37959EAA01                            2.150% Senior Notes due 2030         Globe Life Inc. (f/k/a Torchmark Corporation), a corporation duly organized and existing  under the laws of Delaware (herein called the “Company,” which term includes any successor  Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to  Cede & Co., or registered assigns, the principal sum of [] U.S. DOLLARS (U.S.$ []) on  August 15, 2030, and to pay interest thereon from August 21, 2020, or from the most recent  Interest Payment Date to which interest has been paid or duly provided for, semi-annually in  arrears on February 15 and August 15 in each year, commencing February 15, 2021, at the rate  of 2.150% per annum, until the principal hereof is paid or made available for payment.          The interest so payable, and punctually paid or duly provided for, on any Interest  Payment Date will, as provided in such Indenture, be paid to the Person in whose name this  Security is registered at the close of business on the Regular Record Date for such interest, which  shall be February 1 or August 1 (whether or not a Business Day), as the case may be, next  preceding such Interest Payment Date.          Any such interest not so punctually paid or duly provided for will forthwith cease to be  payable to the Holder on such Regular Record Date and may either be paid to the Person in  whose name this Security is registered at the close of business on a Special Record Date for the  payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to  Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be  paid at any time in any other lawful manner not inconsistent with the requirements of any  securities exchange on which the Securities of this series may be listed, and upon such notice as  may be required by such exchange, all as more fully provided in said Indenture. This Security  may be issued as part of a series.         Payment of the principal of (and premium and Make-Whole Amounts, if any, on) and any  such interest and Additional Amounts, if any, on this Security will be made at the Corporate  Trust Office of the Trustee in such coin or currency of the United States of America as at the  time of payment is legal tender for payment of public and private debts; provided, however, that  at the option of the Company payment of interest may be made by check mailed to the address of  the Person entitled thereto as such address shall appear in the Security Register; provided, further,  however, that so long as this Security is registered to Cede & Co., such payment will be made by  wire transfer in accordance with the procedures established by The Depository Trust Company.         Reference is hereby made to the further provisions of this Security set forth on the  reverse hereof, which further provisions shall for all purposes have the same effect as if set forth  at this place.                                         A-1                                                                                 

 

         Unless the certificate of authentication hereon has been executed by the Trustee referred  to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit  under the Indenture or be valid or obligatory for any purpose.                                         A-2                                                                                 

 

      IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed.   Dated:                                        GLOBE LIFE INC.                                       By:                                           Name:                                          Title:                            [Signature Page to Global Note]                                                                                  

 

                   TRUSTEE’S CERTIFICATE OF AUTHENTICATION         This is one of the Securities of the series designated therein referred to in the within- mentioned Indenture.   Dated:                                     REGIONS BANK, as Trustee                                                                                  By:                                          Authorized Signatory                         [Trustee’s Certificate of Authentication]  

 

                                                                                                              (REVERSE OF NOTE)                                  GLOBE LIFE INC.                             2.150% Senior Notes due 2030         This Security is one of a duly authorized issue of debt securities of the Company (herein  called the “Securities”), issued and to be issued in one or more series under an Indenture, dated  as of September 24, 2018 (herein called the “Base Indenture,” which term shall have the  meaning assigned to it in such instrument), between the Company and Regions Bank, as Trustee  (herein called the “Trustee,” which term includes any successor trustee under the Base  Indenture), and reference is hereby made to the Base Indenture for a statement of the respective  rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee, and  the Holders of the Securities and of the terms upon which the Securities are, and are to be,  authenticated and delivered, as supplemented by the Second Supplemental Indenture relating to  the Securities, dated as of August 21, 2020, by and between the Company and the Trustee  (herein called the “Second Supplemental Indenture;” the Second Supplemental Indenture and  the Base Indenture collectively are herein called the “Indenture”). In the event of any conflict  between the Base Indenture and the Second Supplemental Indenture, the Second Supplemental  Indenture shall govern and control. In the event of a conflict between the Indenture and this  Security, the Indenture shall govern and control.         1.    Defined Terms. All terms used in this Security which are defined in the Indenture  shall have the meanings assigned to them in the Indenture.         2.    Aggregate Principal Amount; Additional Securities. This Security is one of the  series designated on the face hereof, which series is initially limited in aggregate principal  amount to $350,000,000. Under a Board Resolution, Officers’ Certificate pursuant to Board  Resolutions or a supplemental indenture, the Company may from time to time, without the  consent of the Holders of Securities, issue additional Securities of this series (in any such case  “Additional Securities”) having the same ranking and the same interest rate, maturity and other  terms as the Securities. Any Additional Securities and the existing Securities will constitute a  single series under the Indenture and all references to the relevant Securities herein shall include  the Additional Securities unless the context otherwise requires. The aggregate amount of  outstanding Securities represented hereby may from time to time be reduced or increased, as  appropriate, to reflect exchanges and redemptions.         3.    Optional Redemption. The Securities shall be redeemable at the option of the  Company in accordance with Section 201(h) of the Second Supplemental Indenture.         4.    No Sinking Fund. The Securities are not entitled to the benefit of any sinking  fund.         5.    Indenture; Copies. The terms of this Security include those stated in the  Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939,  as amended (“TIA”) as in effect on the date the Indenture is qualified. This Security is subject to  all such terms, and Holders are referred to the Indenture and TIA for a statement of such terms.  This Security is a senior, unsecured, unsubordinated obligation of the Company and constitutes a                                        A-5                                                                                 

 

   Security in the series designated on the face hereof as the “2.150% Senior Notes due 2030.” The  Company will furnish to any Holder upon written request and without charge a copy of the Base  Indenture and the Second Supplemental Indenture. Requests may be made to: Globe Life Inc.,  3700 South Stonebridge Dr., McKinney, TX 75070, attention of General Counsel.         6.    Amendment. The Indenture permits, with certain exceptions as therein provided,  the amendment thereof and the modification of the rights and obligations of the Company and  the rights of the Holders of the Securities of each series to be affected under the Indenture at any  time by the Company and the Trustee with the consent of the Holders of not less than a majority  in aggregate principal amount of the Securities at the time Outstanding of each series to be  affected. Any such consent or waiver by the Holder of this Security shall be conclusive and  binding upon such Holder and upon all future Holders of this Security and of any Security issued  upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not  notation of such consent or waiver is made upon this Security.         7.    Limitations on Suits. As provided in and subject to the provisions of the  Indenture, the Holder of this Security shall not have the right to institute any proceeding with  respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy  thereunder, unless:      (i)   such Holder has previously given written notice to the Trustee of a continuing Event           of Default with respect to the Securities of this series;      (ii)  the Holders of not less than 25% in aggregate principal amount of the Securities of           this series at the time Outstanding shall have made written request to the Trustee to           institute proceedings in respect of such Event of Default as Trustee hereunder;      (iii) such Holder or Holders have offered to the Trustee indemnity satisfactory to it against           the costs, expenses and liabilities to be incurred in compliance with such request;      (iv)  the Trustee for 60 days after its receipt of such notice, request and offer of indemnity           has failed to institute any such proceeding; and      (v)    no direction inconsistent with such written request has been given to the Trustee           during such 60-day period by the Holders of a majority in aggregate principal amount           of the Securities of this series at the time Outstanding.   The foregoing shall not apply to any suit instituted by the Holder of this Security for the  enforcement of any payment of principal hereof or any premium, Make-Whole Amount,  Additional Amount or interest hereon on or after the respective due dates expressed herein.         8.    Obligations Absolute. No reference herein to the Indenture and no provision of  this Security or of the Indenture shall alter or impair the obligation of the Company, which is  absolute and unconditional, to pay the principal of and any premium, Make-Whole Amount,  Additional Amount and interest on this Security at the times, place and rate, and in the coin or  currency, herein prescribed.                                         A-6                                                                                 

 

         9.    Registration and Transfer. As provided in the Indenture and subject to certain  limitations therein set forth, the transfer of this Security is registrable in the Security Register,  upon surrender of this Security for registration of transfer at the office or agency of the Company  in any place where the principal of and any premium, Make-Whole Amount, Additional Amount  and interest on this Security are payable, duly endorsed by, or accompanied by a written  instrument of transfer in form satisfactory to the Company and the Security Registrar duly  executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or  more new Securities of this series and of like tenor, of authorized denominations and for the  same aggregate principal amount, will be issued to the designated transferee or transferees. No  service charge shall be made for any such registration of transfer or exchange, but the Company  or Trustee may require payment of a sum sufficient to cover any tax or other governmental  charge payable in connection therewith.         10.   Denominations. The Securities of this series are issuable only in registered form  without coupons in minimum denominations of $2,000.00 and any integral multiples of  $1,000.00 in excess thereof. As provided in the Indenture and subject to certain limitations  therein set forth, Securities of this series are exchangeable for a like aggregate principal amount  of Securities of this series and of like tenor of a different authorized denomination, as requested  by the Holder surrendering the same.         11.   Persons Deemed Owners. Prior to due presentment of this Security for  registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee  may treat the Person in whose name this Security is registered as the owner hereof for all  purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any  such agent shall be affected by notice to the contrary.         12.   Defeasance. The Indenture contains provisions for defeasance at any time of the  entire indebtedness of this Security or certain restrictive covenants and Events of Default with  respect to this Security, in each case upon compliance with certain conditions set forth in the  Indenture.          13.   Event of Default. Subject to the provisions of the Indenture, if an Event of  Default with respect to Securities of this series shall occur and be continuing, the principal of, or  accrued and unpaid interest, premium, if any, the Make-Whole Amount, if any, and any  Additional Amounts, on the Securities of this series may be declared due and payable in the  manner and with the effect provided in the Indenture.         14.   Governing Law. The Indenture and this Security shall be governed by and  construed in accordance with the laws of the State of New York, without regard to principles of  conflicts of laws.                                                  A-7

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