Document:

Form of Change in Control Severance Agreement

 Exhibit 10.3 
 [FORM OF EXECUTIVE OFFICER] 
 CHANGE IN CONTROL SEVERANCE AGREEMENT

 THIS CHANGE IN CONTROL SEVERANCE AGREEMENT (this “Agreement”), effective as of
            ,         (the “Effective Date”), is made by and between FARMER BROS. CO., a Delaware corporation (the
“Company”), and                      (the “Executive”). 

WHEREAS, the Company considers it essential to foster the continued employment of well qualified, senior executive management personnel;
and 
 WHEREAS, the Company has determined that appropriate steps should be taken to foster such continued employment by setting
forth the benefits and compensation to be awarded to such personnel in the event of a voluntary or involuntary termination within the meaning of this Agreement; and 
 WHEREAS, the Company further recognizes that the possibility of a Change in Control of the Company exists and that such possibility, and the uncertainty and questions that it may raise among executive
management, may result in the departure or distraction of executive personnel to the detriment of the Company; and 
 WHEREAS,
the Company has further determined that appropriate steps should be taken to reinforce and encourage the continued attention and dedication of members of the Company’s executive management, including the Executive, to their assigned duties
without distraction in the face of potentially disturbing circumstances arising from the possibility of a Change in Control; 

NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the Company and the Executive hereby agree as
follows: 
 1. Term of Agreement. The term of this Agreement shall commence as of the date hereof and expire on the close
of business on             , 20     ; provided, however, that (i) commencing on January 1,          and each
January 1 thereafter, the term of this Agreement will automatically be extended for an additional year unless, not later than September 30 of the immediately preceding year, the Company (provided no Change in Control has occurred and no
Threatened Change in Control is pending) or the Executive shall have given notice that it or the Executive, as the case may be, does not wish to have the Term extended; (ii) if, prior to a Change in Control, the Executive ceases for any reason
to be an employee of the Company, thereupon without further action the Term shall be deemed to have expired and this Agreement will immediately terminate and be of no further effect. 

2. Definitions 
 (a) “Base Salary” shall mean the Executive’s salary, which excludes Bonuses, at the rate in effect when an event triggering benefits under Section 3 of this Agreement occurs.

 (b) “Beneficial Owner” or “Beneficial Ownership” shall have the meaning ascribed to such
term in Rule 13d-3 of the Exchange Act. 
 (c) “Board” or “Board of Directors” shall mean
the Board of Directors of Farmer Bros. Co., or its successor. 
 (d) “Bonus(es)” shall mean current cash
compensation over and above Base Salary whether awarded under the Company’s Incentive Compensation Plan or otherwise awarded. 

  
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 (e) “Cause” shall mean: 

(i) the Executive’s material fraud, malfeasance, or gross negligence, willful and material neglect of Executive’s employment
duties or Executive’s willful and material misconduct with respect to business affairs of the Company or any subsidiary of the Company or 
 (ii) Executive’s conviction of or failure to contest prosecution for a felony or a crime involving moral turpitude. 
 A termination of Executive for “Cause” based on clause (i) of the preceding sentence can be made only by delivery to Executive of a resolution duly adopted by the affirmative vote of not
less than three quarters of the Board then in office at a meeting of the Board called and held for such purpose, after reasonable notice to the Executive and an opportunity for the Executive, together with the Executive’s counsel (if the
Executive chooses to have counsel present at such meeting), to be heard before the Board, finding that, in the good faith opinion of the Board, the Executive had committed an act constituting “Cause” as herein defined and specifying the
particulars thereof in detail. Nothing herein will limit the right of the Executive or [his/her] beneficiaries to contest the validity or propriety of any such determination. A termination for Cause based on clause (ii) above shall
take effect immediately upon giving of the termination notice. No act or omission shall be deemed “willful” if it was due primarily to an error in judgment or ordinary negligence. 

(f) “Change in Control” shall mean: 
 (i) An acquisition by any Person (as such term is defined in Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof, including a “group” as defined
in Section 13(d) thereof) of Beneficial Ownership of the Shares then outstanding (the “Company Shares Outstanding”) or the voting securities of the Company then outstanding entitled to vote generally in the election of
directors (the “Company Voting Securities Outstanding”), if such acquisition of Beneficial Ownership results in the Person beneficially owning (within the meaning of Rule 13d-3 promulgated under the Exchange Act) fifty percent
(50%) or more of the Company Shares Outstanding or fifty percent (50%) or more of the combined voting power of the Company Voting Securities Outstanding; excluding, however, any such acquisition by a trustee or other fiduciary holding such
Shares under one or more employee benefit plans maintained by the Company or any of its subsidiaries; or 
 (ii) The approval
of the stockholders of the Company of a reorganization, merger, consolidation, complete liquidation, or dissolution of the Company, the sale or disposition of all or substantially all of the assets of the Company or any similar corporate transaction
(in each case referred to in this Section 2(f) as a “Corporate Transaction”), other than a Corporate Transaction that would result in the outstanding common stock of the Company immediately prior thereto continuing to
represent (either by remaining outstanding or by being converted into common stock of the surviving entity or a parent or affiliate thereof) at least fifty percent (50%) of the outstanding common stock of the Company or such surviving entity or
parent or affiliate thereof immediately after such Corporate Transaction; provided, however, if the consummation of such Corporate Transaction is subject, at the time of such approval by stockholders, to the consent of any government or governmental
agency, the Change in Control shall not occur until the obtaining of such consent (either explicitly or implicitly); or 

(iii) A change in the composition of the Board such that the individuals who, as of the Effective Date, constitute the Board (such Board
shall be hereinafter referred to as the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, for purposes of this Section 2(f) that any individual who becomes a member
of the Board 

  
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subsequent to the Effective Date whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of those individuals who are members
of the Board and who were also members of the Incumbent Board (or deemed to be such pursuant to this proviso) shall be considered as though such individual were a member of the Incumbent Board; but, provided, further, that any such individual whose
initial assumption of office occurs as a result of either an actual or threatened election contest (as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act, including any successor to such Rule), or other
actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board, shall not be so considered as a member of the Incumbent Board. 
 (g) “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time. 
 (h) “Disability” shall mean the Executive’s inability as a result of physical or mental incapacity to substantially perform [his/her] duties for the Company on a full-time basis for
a period of six (6) months. 
 (i) “Exchange Act” shall mean the Securities Exchange Act of 1934, as
amended from time to time, or any successor act thereto. 
 (j) “Involuntary Termination” shall mean a
termination of the Executive’s employment by the Company that occurs for reasons other than for Cause, Disability or death. 
 (k) “Threatened Change in Control” shall mean any bona fide pending tender offer for any class of the Company’s outstanding Shares, or any pending bona fide offer to acquire the
Company by merger or consolidation, or any other pending action or plan to effect, or which would lead to, a Change in Control of the Company as determined by the Incumbent Board. A Threatened Change in Control Period shall commence on the first day
the actions described in the preceding sentence become manifest and shall end when such actions are abandoned or the Change in Control occurs. 
 (l) “Shares” shall mean the shares of common stock of the Company. 
 (m) “Resignation for Good Reason” shall mean a termination of the Executive’s employment by the Executive due to: 

(i) a significant reduction of the Executive’s responsibilities, duties or authority; 

(ii) a material reduction in the Executive’s Base Salary; or 

(iii) a Company-required material relocation of the Executive’s principal place of employment; 

provided, however, that any such condition shall not constitute “Good Reason” unless both (x) the Executive provides
written notice to the Company describing the condition claimed to constitute Good Reason in reasonable detail within ninety (90) days of the initial existence of such condition, and (y) the Company fails to remedy such condition within
thirty (30) days of receiving such written notice thereof; and provided, further, that in all events the termination of the Executive’s employment with the Company shall not be treated as a termination for “Good Reason” unless
such termination occurs not more than one (1) year following the initial existence of the condition claimed to constitute “Good Reason. 

  
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 3. Events That Trigger Benefits Under This Agreement. The Executive shall be eligible
for the compensation and benefits described in Section 4 of this Agreement as follows: 
 (a) A Change in Control occurs
and Executive’s employment is Involuntarily Terminated or terminated by Resignation for Good Reason within twenty-four (24) months following the occurrence of the Change in Control; or 

(b) A Threatened Change in Control occurs and the Executive’s employment is Involuntarily Terminated or terminated by Resignation
for Good Reason during the Threatened Change in Control Period. 
 4. Benefits Upon Termination. If the Executive becomes
eligible for benefits under Section 3 above, the Company shall pay or provide to the Executive the following compensation and benefits: 
 (a) Salary. The Executive will receive as severance an amount equal to [his/her] Base Salary at the rate in effect on the date of termination for a period of twenty-four (24) months, such
payment to be made in installments in accordance with the Company’s standard payroll practices, such installments to commence, subject to Section 9(j)(ii), in the month following the month in which the Executive’s Separation from
Service occurs. The Executive shall also receive a payment equal to one hundred percent (100%) of the Executive’s target Bonus for the fiscal year in which the date of termination occurs (or, if no target Bonus has been assigned to the
Executive as of the date of termination, the average Bonus paid by the Company to the Executive for the last three (3) completed fiscal years or for the number of completed fiscal years that Executive has been in the employ of the Company if
fewer than three, prior to the termination date), such payment to be made, subject to Section 9(j)(ii), in a lump sum within thirty (30) days after the end of the Company’s fiscal year in which the Executive’s date of termination
occurs. As used herein, a “Separation from Service” occurs when the Executive dies, retires, or otherwise has a termination of employment with the Company that constitutes a “separation from service” within the meaning of
Treasury Regulation Section 1.409A-1(h)(1), without regard to the optional alternative definitions available thereunder. 

(b) Qualified and Non-Qualified Plan Coverage. Subject to the eligibility provisions of the plans, the Executive shall continue to
participate in the tax-qualified and non-qualified retirement, savings and employee stock ownership plans of the Company during the twenty four (24) month period following the Executive’s date of termination unless the Executive commences
Employment prior to the end of the twenty four (24) month period, in which case, such participation shall end on the date of [his/her] new employment. The Executive shall inform the Company promptly upon commencing new employment. 

(c) Health, Dental, and Life Insurance Coverage. The health, dental, and life insurance benefits coverage provided to the
Executive at [his/her] date of termination shall be continued by the Company during the twenty-four (24) month period following the Executive’s date of termination unless the Executive commences employment prior to the end of the twenty
four (24) month period and qualifies for substantially equivalent insurance benefits with the Executive’s new employer , in which case, such insurance coverages shall end on the date of qualification. The Executive shall inform the
Company promptly of [his/her] qualification for any of such insurance coverages. . The Company shall provide for such insurance coverages at its expense at the same level and in the same manner as if the Executive’s employment had not
terminated (subject to the customary changes in such coverages if the Executive retires under a Company retirement plan, reaches age 65, or similar events and subject to Executive’s right to make any changes in such coverages that an active
employee is permitted to make). 

  
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Any additional coverages the Executive had at termination, including dependent coverage, will also be continued for such period on the same terms, to the extent permitted by the applicable
policies or contracts. Any costs the Executive was paying for such coverages at the time of termination shall be paid by the Executive by separate check payable to the Company each month in advance. If the terms of any benefit plan referred to in
this Section do not permit continued participation by the Executive, the Company will arrange for other coverage at its expense providing substantially similar benefits. If the Executive is covered by a split-dollar or similar life insurance
program at the date of termination, [he/she] shall have the option in [his/her] sole discretion to have such policy transferred to him upon termination, provided that the Company is paid for its interest m the policy upon such transfer. 

(d) Outplacement Services. The Company shall provide the Executive with outplacement services by a firm selected by the Executive,
at the expense of the Company, in an amount up to $25,000. 
 (e) No Mitigation Obligation. The Company hereby
acknowledges that it will be difficult and may be impossible for the Executive to find reasonably comparable employment following termination of Executive’s employment by the Company and that the non-solicitation covenant contained in
Section 6 may further limit the employment opportunities for the Executive. Accordingly, the payment of the compensation and benefits by the Company to the Executive in accordance with the terms of this Agreement is hereby acknowledged by
the Company to be reasonable, and the Executive will not be required to mitigate the amount of any payment provided for this Agreement by seeking other employment or otherwise, nor will any profits, income, earnings or other benefits from any source
whatsoever create any mitigation, offset, reduction or any other obligation on the part of the Executive hereunder or otherwise, except as expressly provided in the first sentence of Section 4(c). 

5. Parachute Payments. Notwithstanding anything contained in this Agreement to the contrary, in the event that the compensation
and benefits provided for in this Agreement to Executive together with all other payments and the value of any benefit received or to be received by Executive: 
 (a) constitute “parachute payments” within the meaning of Section 280G of the Code, and 
 (b) but for this Section, would be subject to the excise tax imposed by Section 4999 of the Code, the Executive’s compensation and benefits pursuant to the terms of this Agreement shall be
payable either: 
 (i) in full, or 
 (ii) in such lesser amount which would result in no portion of such compensation and benefits being subject to excise tax under Section 4999 of the Code, whichever of the foregoing amounts, taking
into account the applicable federal, state and local income taxes and the excise tax imposed by Section 4999, results in the receipt by Executive on an after-tax basis, of the greatest amount of compensation and benefits under this Agreement,
notwithstanding that all or some portion of such compensation and benefits may be subject to the excise tax imposed under Section 4999 of the Code. Unless the Company and Executive otherwise agree in writing, any determination required
under this Section 5 shall be made in writing by the Company’s independent public accountants serving immediately before the Change in Control (the “Accountants”), whose determination shall be conclusive and binding upon
Executive and the Company for all purposes. For purposes of making the calculations required by this Section 5, the Accountants may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable good
faith interpretations concerning the applications of Section 280G and 4999 of the Code. The Company shall cause the Accountants to 

  
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provide detailed supporting calculations of its determination to Executive and the Company. Executive and the Company shall furnish to the Accountants such information and documents as the
Accountants may reasonably request in order to make a determination under this Section. The Company shall bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this Section 5. 

6. Obligation Not to Solicit 
 (a) Executive hereby agrees that while Executive is receiving compensation and benefits under this Agreement, Executive shall not in any manner attempt to induce or assist others to attempt to induce any
officer, employee, customer or client of the Company to terminate its association with the Company, nor do anything directly or indirectly to interfere with the relationship between the Company and any such persons or concerns. 

(b) In the event that the Executive engages in any activity in violation of Section 6(a), all compensation and benefits described in
Section 4 shall immediately cease. 
 7. Confidentiality. The terms of this Agreement are to be of the highest
confidentiality. In order to insure and maintain such confidentiality, it is agreed that neither party, including all persons and entities under a party’s control, shall, directly or indirectly, publicize or disclose to third persons the terms
of this Agreement or the substance of negotiations with respect to it; provided, however, that nothing herein shall be construed to prevent disclosures which are reasonably necessary to enforce the terms of this Agreement or which are otherwise
required by law to be made to governmental agencies or others; moreover, nothing herein shall be construed to prevent the parties hereto, or their attorneys, from making such disclosures for legitimate business purposes to their respective insurers,
financial institutions, accountants and attorneys or, in the case of a corporation, limited liability company or partnership, to its respective officers, directors, employees, managers, members and agents or any of its respective subsidiaries, group
or divisions, provided that each such recipient of such disclosures agrees to be bound by the requirements concerning disclosure of confidential information as set forth in this Paragraph 7. 

8. Settlement of Disputes; Arbitration 
 (a) All disputes arising under or in connection with this Agreement, shall be submitted to binding arbitration in Los Angeles County before an arbitrator selected by mutual agreement of the
parties. If the parties are unable to agree mutually on an arbitrator within thirty (30) days after a written demand for arbitration is made, the matter shall be submitted to JAMS/ENDISPUTE (“JAMS”) or successor
organization for binding arbitration in Los Angeles County by a single arbitrator who shall be a former California Superior Court judge. The arbitrator shall be selected by JAMS in an impartial manner determined by it. Except as may be
otherwise provided herein, the arbitration shall be conducted under the California Arbitration Act, Code of Civil Procedure §1280 et seq. The parties shall have the discovery rights provided in Code of Civil Procedure §§1283.05
and 1283.1. The arbitration hearing shall be commenced within ninety (90) days of the appointment of the arbitrator, and a decision shall be rendered by the arbitrator within thirty (30) days of the conclusion of the hearing. The
arbitrator shall have complete authority to render any and all relief, legal and equitable, appropriate under California law, including the award of punitive damages where legally available and warranted. The arbitrator shall award costs of the
proceeding, including reasonable attorneys’ fees, to the party or parties determined to have substantially prevailed, but such award for attorneys’ fees shall not exceed One Hundred Thousand Dollars ($100,000). Judgment on the award
can be entered in a court of competent jurisdiction. 
 (b) The foregoing notwithstanding, if the amount in controversy exceeds
$200,000, exclusive of attorneys’ fees and costs, the matter shall be litigated in the Los Angeles County Superior 

  
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Court as a regular civil action except that a former California Superior Court Judge selected by JAMS in an impartial manner shall be appointed as referee to determine, sitting without a jury (a
jury being waived by all parties hereto), all issues pursuant to California Code of Civil Procedure §638(1). Judgment entered on the decision of the referee shall be appealable as a judgment of the Superior Court. The prevailing party
shall be entitled to receive its reasonable attorneys’ fees and costs from the other party, but such award for attorneys’ fees shall not exceed One Hundred Thousand Dollars ($100,000). 

9. Miscellaneous 
 (a) Notices. Any notice or other communication required or permitted under this Agreement shall be effective only if it is in writing and shall be deemed to have been duly given when delivered personally
or seven days after mailing if mailed first class by registered or certified mail, postage prepaid, addressed as follows: 
  

					
	If to the Company:	  	Farmer Bros. Co
		  	20333 South Normandie Avenue
		  	Torrance, CA 90502
		  	Attn: Chief Executive Officer
		
	with a copy to:	  	John M. Anglin, Esq.
		  	Anglin, Flewelling, Rasmussen, Campbell & Trytten LLP
		  	199 South Los Robles Avenue, Suite 600
		  	Pasadena, CA 91101-2459
			
	If to the Executive:	  	  
	  	
		  	  
	  	
		  	  
	  	

 or to such other address as any party may designate by notice to the others. 

(b) Assignment. This Agreement shall inure to the benefit of and shall be binding upon the parties hereto and their respective
executors, administrators, heirs, personal representatives, and successors, but, except as hereinafter provided, neither this Agreement nor any right hereunder may be assigned or transferred by either party thereto, or by any beneficiary or any
other person, nor be subject to alienation, anticipation, sale, pledge, encumbrance, execution, levy, or other legal process of any kind against the Executive, [his/her] beneficiary or any other person. Notwithstanding the foregoing, any person or
business entity succeeding to substantially all of the business of the Company by purchase, merger, consolidation, sale of assets, or otherwise, shall be bound by and shall adopt and assume this Agreement and the Company shall cause the assumption
of this Agreement by such successor. If Executive shall die while any amount would still be payable to Executive hereunder (other than amounts that, by their terms, terminate upon the death of Executive) if Executive had continued to live, all such
amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to the executors, personal representatives or administrators of Executive’s estate. 

(c) No Obligation to Fund. The agreement of the Company (or its successor) to make payments to the Executive hereunder shall
represent solely the unsecured obligation of the Company (and its successor), except to the extent the Company (or its successors) in its sole discretion elects in whole or in part to fund its obligations under this Agreement pursuant to a trust
arrangement or otherwise. 

  
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 (d) Applicable Law. This Agreement shall be governed by and construed and enforced in
accordance with the laws of the State of California, without giving effect to conflict of law principles. 
 (e)
Amendment. This Agreement may only be amended by a written instrument signed by the parties hereto, which makes specific reference to this Agreement. 
 (f) Severability. If any provision of this Agreement shall be held invalid or unenforceable by any court of competent jurisdiction, such holding shall not invalidate or render unenforceable any
other provisions hereof. 
 (g) Withholding. The Company shall have the right to withhold any and all local, state and
federal taxes which may be withheld in accordance with applicable law. 
 (h) Other Benefits. Nothing in this Agreement
shall limit or replace the compensation or benefits payable to Executive, or otherwise adversely affect Executive’s rights, under any other benefit plan, program, or agreement to which Executive is a party. 

(i) Employment Rights. Nothing expressed or implied in this Agreement will create any right or duty on the part of the Company or
the Executive to have the Executive remain in the employment of the Company or any Subsidiary prior to or following any Change in Control. [The Company and Executive are parties to an Employment Agreement executed concurrently
herewith. Except as provided in Section 11 of the Employment Agreement, the provisions of the Employment Agreement and this Agreement are cumulative.] 
 (j) Section 409A 
 (i) It is intended that any amounts payable under this
Agreement shall either be exempt from or comply with Section 409A of the Code (including the Treasury regulations and other published guidance relating thereto) (“Code Section 409A”) so as not to subject the Executive to
payment of any additional tax, penalty or interest imposed under Code Section 409A. The provisions of this Agreement shall be construed and interpreted to avoid the imputation of any such additional tax, penalty or interest under Code
Section 409A yet preserve (to the nearest extent reasonably possible) the intended benefit payable to the Executive. 

(ii) Notwithstanding any provision of this Agreement to the contrary, if the Executive is a “specified employee” within the
meaning of Treasury Regulation Section 1.409A-1(i) as of the date of the Executive’s Separation from Service, the Executive shall not be entitled to any payment or benefit pursuant to Section 4 until the earlier of (i) the date
which is six (6) months after the Executive’s Separation from Service for any reason other than death, or (ii) the date of the Executive’s death. Any amounts otherwise payable to the Executive upon or in the six (6) month
period following the Executive’s Separation from Service that are not so paid by reason of this Section 9(j)(ii) shall be paid (without interest) as soon as practicable (and in all events within thirty (30) days) after the date that
is six (6) months after the Executive’s Separation from Service (or, if earlier, as soon as practicable, and in all events within thirty (30) days, after the date of the Executive’s death). The provisions of this
Section 9(j)(ii) shall only apply if, and to the extent, required to avoid the imputation of any tax, penalty or interest pursuant to Code Section 409A. 
 (iii) To the extent that any benefits or reimbursements pursuant to Section 4(c) or Section 4(d) are taxable to the Executive, any reimbursement payment due to the Executive pursuant to any such
provision shall be paid to the Executive on or before the last day of the Executive’s 

  
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taxable year following the taxable year in which the related expense was incurred. The benefits and reimbursements pursuant to such provisions are not subject to liquidation or exchange for
another benefit and the amount of such benefits and reimbursements that the Executive receives in one taxable year shall not affect the amount of such benefits or reimbursements that the Executive receives in any other taxable year. 

[SIGNATURES FOLLOW] 

  
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 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed on its behalf by
its duly authorized officers and the Executive has hereunder set [his/her] hand, as of the date first above written. 
  

							
	Company:	 	 	 	FARMER BROS. CO.,
		 		 	a Delaware corporation
				
		 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title:	 	  

			
	Executive:	 		 	  

		 		 	[Name of Executive]

  
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 SCHEDULE OF EXECUTIVE OFFICERS 

Larry B. Garrett 
 Hortensia R. Gómez

 Mark A. Harding 
 Michael H. Keown

 Jeffrey A. Wahba 

  
 11EX-10.16

 Exhibit 10.16 

 
 HORACE MANN SERVICE
CORPORATION 
 EXECUTIVE SEVERANCE PLAN 

Effective March 15, 2012 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	 HORACE MANN SERVICE CORPORATION EXECUTIVE SEVERANCE PLAN
	  	 	1	  
		
	ARTICLE I Statement of Purpose and Effective Date	  	 	1	  
		
	ARTICLE II Definitions	  	 	1	  
		
	ARTICLE III Participation and Eligibility for Benefits	  	 	5	  
			
	    3.1	 	Participation	  	 	5	  
	     3.2
	 	Participants Subject to Restrictive Covenants	  	 	6	  
	     3.3
	 	Eligibility for Benefits	  	 	6	  
		
	ARTICLE IV Obligations of the Employer Upon Involuntary Termination	  	 	6	  
			
	     4.1
	 	Involuntary Termination	  	 	6	  
	     4.2
	 	Termination for Any Other Reason	  	 	8	  
	     4.3
	 	Coordination with other Plans and Agreements	  	 	8	  
		
	ARTICLE V Administration	  	 	8	  
			
	    5.1	 	The Company and Horace Mann	  	 	8	  
	    5.2	 	The Committee	  	 	9	  
	    5.3	 	The Plan Administrator	  	 	10	  
	    5.4	 	Membership of the Committee	  	 	10	  
	    5.5	 	Action of the Committee	  	 	10	  
	    5.6	 	Advisors and Agents of the Committee	  	 	10	  
	    5.7	 	Records and Reports of the Committee	  	 	10	  
	    5.8	 	Liability of the Committee; Indemnification	  	 	10	  
	    5.9	 	Plan Expenses	  	 	11	  
	    5.10	 	Service in More than One Capacity	  	 	11	  
	    5.11	 	Named Fiduciary	  	 	11	  
	    5.12	 	Allocations and Delegations of Responsibility	  	 	11	  
		
	ARTICLE VI Amendments; Termination	  	 	12	  
			
	    6.1	 	Amendment or Termination of the Plan	  	 	12	  
		
	ARTICLE VII Claims Procedure	  	 	12	  
			
	    7.1	 	Filing a Claim	  	 	12	  
	    7.2	 	Review of Claim Denial	  	 	12	  
		
	ARTICLE VIII Restrictive Covenants	  	 	13	  
			
	    8.1	 	Confidentiality	  	 	13	  

  
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	    8.2	 	Noncompetition	  	 	13	  
	    8.3	 	Nonsolicitation; Noninterference	  	 	14	  
	    8.4	 	Non-disparagement	  	 	15	  
	    8.5	 	Return of Company Property	  	 	15	  
	    8.6	 	Reasonableness of Covenants	  	 	15	  
	    8.7	 	Reformation	  	 	15	  
	    8.8	 	Tolling	  	 	15	  
	    8.9	 	Survival of Provisions	  	 	15	  
	    8.10	 	Equitable Relief and Other Remedies	  	 	15	  
		
	ARTICLE IX Release; No Mitigation; No Duplication of Benefits	  	 	16	  
			
	    9.1	 	Release Required	  	 	16	  
	    9.2	 	No Mitigation	  	 	16	  
	    9.3	 	No Duplication of Benefits; Recoupment	  	 	16	  
		
	ARTICLE X Miscellaneous	  	 	17	  
			
	    10.1	 	Participant Information	  	 	17	  
	    10.2	 	Governing Law	  	 	17	  
	    10.3	 	Notices	  	 	17	  
	    10.4	 	No Employment Contract	  	 	17	  
	    10.5	 	Headings	  	 	17	  
	    10.6	 	Construction	  	 	17	  
	    10.7	 	Joint and Several Liability	  	 	18	  
	    10.8	 	Successors	  	 	18	  
	    10.9	 	Payments to Beneficiary	  	 	18	  
	    10.10	 	Non-Alienation of Benefits	  	 	18	  
	    10.11	 	Tax Matters	  	 	18	  
	    10.12	 	Severability	  	 	20	  

  
 - ii -

 HORACE MANN SERVICE CORPORATION EXECUTIVE SEVERANCE PLAN 

ARTICLE I 
 Statement of Purpose and Effective Date 

1.1     Purpose. Horace Mann Service Corporation (“Horace Mann”) is a wholly owned
subsidiary of Horace Mann Educators Corporation, a Delaware Corporation (the “Company”). Horace Mann hereby establishes the Horace Mann Service Corporation Executive Severance Plan (the “Plan”) in order to encourage and motivate
key employees to devote their full attention to the performance of their assigned duties without the distraction or concerns regarding their involuntary termination of employment. Horace Mann and the Company believe that it is in the best interests
of their key employees and the shareholders of the Company to provide financial assistance through severance payments and other benefits to eligible key employees who are involuntarily terminated. To the extent the Plan provides deferred
compensation it is an unfunded plan primarily for the purposes of providing deferred compensation for a select group of management or highly compensated employees. 

1.2     Effective Date. This Plan is effective as of March 15, 2012 (the
“Effective Date”). 
 ARTICLE II 

Definitions 
 When used in this Plan, the terms specified below have the following meanings: 
 2.1     “Accrued Annual Incentive” means the amount of any annual incentive earned in a year ended prior to the Termination Date, but not yet paid to a Participant as
of the Termination Date, other than amounts that he or she has elected to defer or that, if payable in stock, have been automatically deferred. 
 2.2     “Accrued Base Salary” means the amount of a Participant’s Base Salary that is accrued but unpaid as of the Termination Date, other than amounts that the
Participant has elected to defer. 
 2.3     “Accrued Obligations” means,
as of any date, the sum of a Participant’s Accrued Base Salary, Accrued Annual Incentive, any accrued but unpaid vacation pay, unreimbursed expenses for which proper documentation is provided, and any other vested amounts and benefits that are
to be paid or provided to the Participant by the Employers under the Company’s or Employer’s Plans (other than the Plan or any defined benefit or defined contribution plan, whether or not qualified under Section 401(a) of the Code),
but which have not yet been paid or provided (as applicable). 
 2.4    
“Affiliate” means any Person with whom the Company would be considered a single employer under Code Sections 414(b) and 414(c) and Treasury Regulation Section 1.409A-3(i)(5)(ii), except that in applying Code Sections
1563(a)(1), (2), and (3) for purposes of determining a controlled group of corporations under Code Section 414(b), the language “at least 50 percent” shall be used instead of “at least 80 percent” in each place it
appears in Code Sections 1563(a)(1), (2), and (3), and in applying Treas. Reg. Section 1.414(c)-(2) for purposes 

 
of determining a controlled group of trades or businesses under Code Section 414(c), the language “at least 50 percent” shall be used instead of “at least 80 percent” in
each place it appears in Treasury Regulation Section 1.414(c)-(2). Notwithstanding the foregoing, where justified by legitimate business criteria as determined by the Compensation Committee in its sole discretion, “at least 20
percent” shall be substituted for “at least 50 percent” in the preceding sentence in determining whether a Participant has a Termination of Employment. 

2.5    “Article” means an article of this Plan. 

2.6     “Base Salary” means an Employee’s annual rate of salary as of the date
as of which such annual rate of salary is being determined. 
 2.7
    “Board” means the Board of Directors of the Company. 
 2.8
    “Cause” means a sufficient basis to conclude, as determined by the Compensation Committee in its sole discretion that one or more of the following has occurred: 

  (a)     the Participant’s misconduct or negligence in the performance of the
Participant’s duties to the Company that is not cured or is not capable of being cured within 10 days of notice thereof; 
   (b)     the Participant’s repeated failure to perform the Participant’s duties to the Company or to follow the lawful written directives of the person to whom the
Participant reports (other than as a result of death or physical or mental incapacity); 
   (c)
    the Participant’s conviction of, or pleading of guilty or nolo contendere to, a felony or any crime involving moral turpitude; 

  (d)     the Participant’s performance of any material act of theft, embezzlement,
fraud, malfeasance, dishonesty or misappropriation of the Company’s property; 
   (e)
    the Participant’s use of illegal drugs or the Participant’s abuse of alcohol that, in either case, materially impairs the Participant’s ability to perform the Participant’s duties; 

  (f)     the Participant’s violation of the Company’s Code of Ethics, Code of
Conduct or other written Policy including the Company employment policies and rules pursuant to which the Participant could be subject to immediate dismissal; 
   (g)     the Participant’s negligence or misconduct that results in, or could reasonably be expected to result in, an appreciable loss to the Company or damage to the
reputation of the Company; 
   (h)     the Participant’s failure to perform
at the acceptable level of performance for his or her position (excluding mere failure to attain financial performance objectives); or 
   (i)     the Participant has engaged in “misconduct” within the meaning of the Sarbanes-Oxley Act. 

  
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 2.9    “CEO” means the Chief Executive
Officer of the Company. 
 2.10    “Code” means the Internal Revenue Code
of 1986, as amended. Any reference to any section of the Code shall also refer to any successor provision. References to any provision of the Code or regulation thereunder shall include regulations and other applicable guidance or pronouncement of
the Internal Revenue Service of the Department of the Treasury, and applicable case law relating to such Code Section. 
 2.11    “Committee” means the administrative committee appointed in accordance with Article VI. If no such committee is appointed, “Committee” shall
mean the Health and Welfare Benefits Committee of Horace Mann. 

2.12    “Company” means Horace Mann Educators Corporation and any successor thereto.

 2.13    “Compensation Committee” means the Compensation Committee of the
Board or any successor committee of the Board. 
 2.14    “Disability”
means any medically determinable physical or mental impairment of a Participant that: 
   (a)
    has lasted for a continuous period of not less than six months or such longer period, if any, that is available to a Participant under his Employer’s Policies relating to the continuation of employee status after the
onset of disability, 
   (b)     can be expected to be permanent or of
indefinite duration, and 
   (c)     renders the Participant unable to perform
his duties with or without accommodation. 
 2.15    “Effective Date” - see
Section 1.2. 
 2.16    “Employee” means an individual who is
designated as an employee of an Employer on the records of such Employer. 

2.17    “Employer” means the Company, Horace Mann, and an Affiliate any of whose
Employees are Participants in the Plan. The term “Employer” includes any successor to the Company or an Employer. A Participant’s Employer is the entity that directly employs the Participant. 

2.18    “ERISA” means the Employee Retirement Income Security Act of 1974, as
amended. Reference to any provision of ERISA shall also refer to any successor provision and to regulations and others applicable guidance or pronouncement of the U.S. Department of Labor and applicable case law. 

2.19    “Including” means including without limitation. 

  
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 2.20     “Involuntary Termination”
means the Termination of Employment of a Participant (a) initiated by the Employer other than for Cause, Disability, or retirement due to any Company mandatory retirement program, or (b) for a reason other than death. For avoidance of
doubt, a Participant shall not have an Involuntary Termination of Employment if he or she (i) voluntarily resigns; (ii) voluntarily retires; (iii) has a Termination of Employment because of death or Disability; or (iv) receives
compensation at the same rate through the resignation date reflected in the Participant’s Resignation Notice, as in effect immediately prior to submission of the Resignation Notice unless terminated earlier for cause of by reason of death or
Disability; or (v) is concurrently offered employment or re-employment with the Company or an Affiliate (or any successor thereto) on terms and conditions substantially similar (including location) to the terms and conditions of his or her
employment. 
 2.21     “Notice of Termination” means a written notice
given in accordance with Section 10.3 that sets forth (i) the specific termination provision in this Plan relied on by the party giving such notice, (ii) in reasonable detail the specific facts and circumstances claimed to provide a
basis for such Termination of Employment, and (iii) if the Termination Date is other than the date of receipt of such Notice of Termination (and is not determined under Section 2.35(a) or (b)), the Termination Date. 

2.22     “Participant” means an Employee who is selected to participate in the Plan
and whose participation has not been terminated pursuant to Article III, Article IV or Article VI. 
 2.23
    “Person” means any individual, sole proprietorship, partnership, joint venture, limited liability company, trust, unincorporated organization, association, corporation, institution, public benefit
corporation, entity or government instrumentality, division, agency, body or department. 
 2.24
    “Plan” means this Horace Mann Service Corporation Executive Severance Plan as set forth herein and as from time to time amended. 

2.25     “Plans” means plans, programs, or Policies of the Company or the Employer
that employs a Participant. 
 2.26     “Policies” means policies,
practices or procedures of the Company or the Employer that employs a Participant. 
 2.27
    “Pro-rata Annual Incentive” means, in respect of an Employer’s fiscal year during which the Termination Date occurs, an amount equal to the product of (a) the actual annual incentive the Participant
would have been paid if he or she remained employed on the payment date applicable to then-current employees, multiplied by (b) a fraction, the numerator of which equals the number of days from and including the first day of such fiscal year
through and including the Termination Date, and the denominator of which equals 365. 
 2.28
    “Resignation Notice” means a notification of resignation, by retirement or otherwise, made orally or in writing to the Participant’s supervisor or other appropriate Company official that designates the
Participant’s resignation date. 
 2.29     “Section” means, unless
the context otherwise requires, a section of this Plan. 

  
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 2.30     “Severance Multiple” means:

 (a)     with respect to a Tier I Participant, 2.0; 

(b)     with respect to a Tier II Participant, 1.5; and 

(c)     with respect to a Tier III Participant, 1.0. 

2.31     “Severance Payment” means that term as defined in Section 4.1(a)(iii).

 2.32     “Severance Period” means: 

(a)     with respect to a Tier I Participant, 24 months; 

(b)     with respect to a Tier II Participant, 18 months; and 

(c)     with respect to a Tier III Participant, 12 months. 

2.33     “Target Annual Incentive”, as of any date, means the amount equal to the
product of a Participant’s Base Salary multiplied by the percentage of such Base Salary to which such Participant would have been entitled based on the terms in effect on such date under any bonus plan for the performance period for which the
annual incentive is awarded if the performance goals established pursuant to such bonus plan were achieved at the 100% (target) level as of the end of the performance period. 

2.34     “Taxes” means federal, state, local and other income, employment and other
taxes. 
 2.35     “Termination Date” means the date of the receipt of the
Notice of Termination by a Participant (if such Notice of Termination is given by the Participant’s Employer) or by the Participant’s Employer (if such Notice is given by the Participant), or any later date, not more than 15 days after the
giving of such Notice, specified in such Notice on which an Employee has a Termination of Employment; provided, however, that: 
 (a)     if the Participant’s employment is terminated by reason of death or Disability, the Termination Date shall be the date of the Participant’s death or the date the
Participant is determined to have a Disability; and 
 (b)     if no Notice of Termination
is given, the Termination Date shall be the last date on which the Participant is employed by an Employer. 

2.36     “Termination of Employment” means in respect of a Participant, a
“separation from service” as such term is used under Code Section 409A. 
 ARTICLE III 

Participation and Eligibility for Benefits 
 3.1    Participation 
 . 

  
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   (a)     Subject to Section 4.3, an
Employee will become a Participant upon acknowledging designation as a Tier I Participant, a Tier II Participant, or a Tier III Participant within 30 days of such designation. Such designation shall be made by the Compensation Committee; provided
that if the CEO is designated as a Participant, such designation shall be made by the Board upon the recommendation of the Compensation Committee. Such designation may be by title or by individual. Where designation is by title, if prior to the
Termination Date (A) a Participant’s title changes such that he or she is eligible to be a Participant in a higher or lower tier, such Participant shall thereupon become a Participant solely in such higher or lower tier; or (B) a
Participant ceases to have a title covered by any tier of participation, such Participant shall thereupon cease to be a Participant. If prior to Termination of Employment the position or title of a Participant designated by name changes, such
Participant shall, upon action of the Committee, become a Participant in a different tier of participation, or cease to be a Participant. If upon Termination of Employment the Participant has not become eligible for a benefit under Section 3.3,
he or she shall cease to be a Participant upon such Termination of Employment. Any determination as to a change in status under this Section 3.1(a) shall be made by the Compensation Committee (or by the Board upon the recommendation of the
Compensation Committee in the case of a determination regarding the CEO), and no Participant consent shall be required. 
   (b)     Tier I Participants, Tier II Participants and Tier III Participants shall be listed in a schedule attached hereto which shall be revised to reflect additions and
deletions of Participants. For administrative convenience, there may be more than one schedule; provided no individual shall be permitted to participate in more than one tier at a time. Any schedule may be amended from time to time by the
Compensation Committee to reflect actions or events under Section 3.1(a) without Participant consent, notwithstanding Section 6.1. 
 3.2     Participants Subject to Restrictive Covenants. By becoming a Participant, an individual agrees to be subject to the restrictive covenants in Article VIII, whether or not
the individual becomes eligible for benefits under Section 3.3; provided that such restrictive covenants shall not apply to an individual who is not eligible for benefits because his or her participation has been terminated involuntarily by
action of the Compensation Committee pursuant to Section 3.1(a). 
 3.3
    Eligibility for Benefits. A Participant becomes eligible for benefits under the Plan if the Participant has an Involuntary Termination. 
 ARTICLE IV 
 Obligations of the Employer Upon Involuntary
Termination 
 4.1     Involuntary Termination. If a Participant has an
Involuntary Termination, then the Employer’s sole obligations to such Participant under the Plan shall be as follows: 
   (a) The Employer shall pay the Participant the following: 
 (i) all Accrued Obligations; 
 (ii) subject to
Sections 4.3 and 9.1, the Participant’s Pro-rata Annual Incentive, reduced (but not below zero) by the amount of any Annual Incentive 

  
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paid to the Participant with respect to the Employer’s fiscal year during which the Termination Date occurs (for example, if the Annual Incentive is paid quarterly); the Pro-rata Annual
Incentive shall be paid at the same time and in the same form as the Annual Incentives for such fiscal year are paid to ongoing employees; but no later than March 15 of the year following the year in which the Termination Date occurs;

 (iii)     subject to Sections 4.3 and 9.1, an amount equal to the sum of
Base Salary and the Target Annual Incentive, each determined as of the Termination Date multiplied by the applicable Severance Multiple (the “Severance Payment”). The Severance Payment shall be paid in the form of salary
continuation commencing no more than sixty days after the Termination Date, provided the revocation period described the release has expired prior to the date of the first payment; and subject to Section 10.11(c); provided that if the sixtieth
day falls in the calendar year following the year in which the Termination Date occurs, such salary continuation shall commence in such following year, regardless the year the revocation period described in the release actually expires. Salary
continuation payments made pursuant to this Section 4(a)(iii) shall be made in accordance with the Employer’s regular payroll schedule; provided that any payments that would have been made prior to the applicable salary continuation
commencement date shall be cumulated without interest and paid on the salary continuation commencement date. The amount of each salary continuation payment shall be determined by dividing the Severance Payment by the number of regularly scheduled
payroll periods in the Severance Period (without regard to any delays under Section 9.1 or 10.11). 
 (b)
    Post-Termination of Employment nonqualified deferred compensation benefits, equity awards, and employee welfare benefits shall be provided pursuant to the terms of the respective Plans and Policies under which such
post-Termination of Employment benefits, awards and welfare benefits, if any, are provided, except as provided in (c) below; and 
 (c)     Subject to Section 9.1, if the Participant timely elects post-termination continuation coverage under Section 4980 of the Code (“COBRA”) with respect
to medical, vision, prescription and/or dental coverage, then the Employer shall reimburse the Participant (or pay the provider directly) for the premiums for such COBRA coverage for the Participant and his or her eligible dependents during the
lesser of the period the Participant (and his or her eligible dependents) are covered by COBRA or the applicable Severance Period to the extent such premiums exceed the premiums payable for similar employer-provided coverage by active employees. Any
reimbursement (or direct payment) that would have been made prior to the lapse of the revocation period in the release or prior to the end of the delay required by Section 10.11, if applicable, shall be cumulated without interest and paid after
such revocation period or delay ends, as applicable. There shall be no reimbursement (or direct payment) of such premiums by the Employer for any COBRA coverage extending beyond the end of the Severance Period. Notwithstanding the forgoing, such
reimbursement (or direct payment) shall cease if the Participant becomes eligible for medical, vision, prescription or dental coverage, respectively, from a subsequent employer. 

  
 - 7 -

 4.2     Termination for Any Other Reason. If a
Participant has a Termination of Employment for any reason other than as described in Section 4.1 (including termination by the Employer for Cause, termination by the Employee, termination by the Employer or the Employee for Disability or
retirement, or termination on account of death), then the Employer’s sole obligations to such Participant under the Plan shall be to pay the Participant all Accrued Obligations determined as of the Termination Date. 

4.3     Coordination with other Plans and Agreements. 

  (a)     Notwithstanding Section 4.1, if a Participant in the Plan is also a
participant in the Horace Mann Service Corporation Executive Change in Control Plan (“CIC Plan”) no payments or benefits will be made under this Plan if the Participant has a termination of employment that entitles him or her to payments
or benefits under the CIC Plan. 
   (b)     Notwithstanding Sections 4.1 or
4.3(a), if Participant in this Plan was covered by the CIC Plan and ceases to be so covered, and in the same calendar year as such individual ceases to be covered by the CIC Plan he or she incurs a termination of employment that would have entitled
such individual to benefits or payments of “nonqualified deferred compensation” under Code Section 409A if such individual had remained covered by the CIC Plan, such “nonqualified deferred compensation” under Code
Section 409A shall be paid at the same time and in the same form as it would have been paid (if at all) under the CIC Plan. This Section 4.3(b) shall not apply with respect to amounts that are not “nonqualified deferred
compensation” under Code Section 409A, and shall not apply if the Participant’s termination of employment occurs in a year after the year the Participant ceased to be covered by the CIC Plan. 

  (c)     Notwithstanding Section 3.1(a), any individual who is party to an agreement
(“Severance Agreement”) between the individual and an Employer that provides for payments of “nonqualified deferred compensation” under Code Section 409A upon termination of employment or service (either before or after a
change in control) shall not be eligible to become a Participant in the Plan until the next January 1 after he or she ceases to be covered by such Severance Agreement, provided that if a change in control (as defined in the Severance Agreement)
shall have occurred prior to such January 1, then such individual shall not become a participant herein. 
 ARTICLE
V 
 Administration 
 5.1     The Company and Horace Mann. 

  (a)     The Company shall have overall responsibility for the establishment, amendment
and termination of the Plan. In carrying out its responsibilities hereunder, the Company shall act through the Compensation Committee (except with respect to the CEO), or through a duly appointed delegate of the Board or the Compensation Committee.
The Compensation Committee shall have the responsibilities, duties and powers assigned to it in this Plan and any responsibilities, duties and powers under this Plan that are not specifically delegated to anyone else, including the following:

  
 - 8 -

 (i)     to determine which individuals
shall be selected as Tier I Participants, Tier II Participants, and Tier III Participants; 
 (ii)     to decide on questions concerning the Plan and the eligibility of any Participant to participate in the Plan, including whether the Participant should remain (or become) a
Tier I Participant, a Tier II Participant, or a Tier III Participant, in accordance with the provisions of the Plan; and 
 (iii)     to make all other decisions and determinations (including factual determinations) as the Compensation Committee may deem necessary or advisable in carrying out its duties and
responsibilities or exercising its powers; 
 provided that if the CEO is a Participant, such duties,
responsibilities and powers shall be exercised with respect to him or her by the Board. Decisions of the Compensation Committee (or the Board with respect to the CEO) shall be final, conclusive and binding on all persons interested in the Plan,
including Participants, beneficiaries and other persons claiming rights from or through a Participant. 
 (b)
    Horace Mann shall also have overall responsibility for the administration and operation of the Plan, which responsibility it shall discharge by the appointment and removal (with or without cause) of the members of the
Committee described in Section 5.4, to which is delegated the overall responsibility for the administration and operation of the Plan. 
 5.2     The Committee. Except with respect to responsibilities, duties and powers reserved to the Compensation Committee (or the Board), the Plan shall be administered in a
uniform and nondiscriminatory manner by the Committee, which shall have the responsibilities, duties and powers delegated to it in this Plan and any responsibilities, duties and powers under this Plan that are not specifically delegated to anyone
else, including the following: 
 (a)     subject to any limitations under the Plan or
applicable law (including but not limited to rules regarding the effective dates of participation and cessation of participation), to make and enforce such rules and regulations and prescribe the use of such forms as it shall deem necessary for the
efficient administration of the Plan; 
 (b)     to require any person to furnish such
information as it may request as a condition to receiving any benefit under the Plan; 
 (c)
    to compute or have computed the amount of benefits that shall be payable to any person in accordance with the provisions of the Plan; 
 (d)     to construe and interpret the Plan and correct defects, supply omissions and reconcile inconsistencies in the Plan; 

(e)     to appoint and remove, as it deems advisable, the Plan Administrator; and 

(f)     to make all other decisions and determinations (including factual determinations) as the
Committee may deem necessary or advisable for the administration of the Plan. 

  
 - 9 -

 Decisions of the Committee with respect to the administration and interpretation of the Plan
shall be final, conclusive, and binding on all persons interested in the Plan, including Participants, beneficiaries and other persons claiming rights from or through a Participant. 

5.3     The Plan Administrator. The Committee may appoint a Plan Administrator who may (but
need not) be a member of the Committee, and in the absence of such appointment, the Committee shall be the Plan Administrator. The Plan Administrator shall perform the responsibilities delegated to him or her by the Committee. 

5.4     Membership of the Committee. The Committee shall consist of at least three members who
may be members of the Board or may be officers or employees of an Employer. Any member of the Committee may resign by delivering his written resignation to the secretary of the Company; the resignation shall become effective when received by the
secretary of the Company (or at any other time agreed upon by the member and the Board). The Board may remove any member of the Committee at any time, with or without cause, upon notice to the member being removed. If any individual member of the
Committee is an Employee of an Employer, his membership on the Committee shall terminate automatically upon his termination of employment unless the Company specifies otherwise. Notice of the appointment, resignation, or removal of a member of the
Committee shall be given by the Board to the members of the Committee. 
 5.5     Action
of the Committee. A vote of a majority of the members of the Committee shall be required for any action taken by the Committee. Resolutions may be adopted or other action taken without a meeting upon the written consent of all members of the
Committee. Any person dealing with the Committee shall be entitled to rely on a certificate of any member of the Committee, or its secretary, as to any act or determination of the Committee. 

5.6     Advisors and Agents of the Committee. The Committee may, subject to periodic review,
(i) authorize one or more of its members or an agent to execute or deliver any instrument, and make any payment on its behalf and (ii) utilize the services of associates and engage accountants, agents, clerks, legal counsel, record keepers
and professional consultants (any of whom may also be serving an Employer or another Affiliate of the Company) to assist in the administration of this Plan or to render advice with regard to any responsibility under this Plan. 

5.7     Records and Reports of the Committee. The Committee shall maintain records and
accounts relating to the administration of the Plan. 
 5.8     Liability of the
Committee; Indemnification. The members of the Board, the Compensation Committee, the Committee and the Plan Administrator shall have no liability with respect to any action or omission made by them in good faith nor from any action made in
reliance on (i) the advice or opinion of any accountant, legal counsel, medical adviser or other professional consultant or (ii) any resolutions of the Board certified by the secretary or assistant secretary of the Company. Each member of
the Board, the Compensation Committee, the Committee and each Employee to whom are delegated duties, responsibilities and authority with respect to the Plan shall be indemnified, defended, and held harmless by the Company and the Employers and their
respective successors against all claims, liabilities, fines and penalties and 

  
 - 10 -

 
all expenses (including but not limited to reasonable attorneys fees) reasonably incurred by or imposed on such member or Participant that arise as a result of his actions or failure to act in
connection with the operation and administration of the Plan, to the extent lawfully allowable and to the extent that such claim, liability, fine, penalty or expense is not paid for by liability insurance purchased by or paid for by the Company or
an Employer. Notwithstanding the foregoing, the Company or an Employer shall not indemnify any person for any such amount incurred through any settlement or compromise of any action unless the Company or an Employer consent in writing to such
settlement or compromise. 
 5.9       Plan Expenses. Expenses relating to
the Plan prior to its termination shall be paid from the general assets of the Company or an Employer. Any Employee who serves as a member of the Committee shall receive no compensation for such service. 

5.10     Service in More than One Capacity. Any person or group of persons may serve the Plan
in more than one capacity. 
 5.11     Named Fiduciary. For purposes of ERISA, the
named fiduciary of the Plan shall be the Committee. 
 5.12     Allocations and
Delegations of Responsibility. 
     (a)     Delegation of
Responsibility. Each of the Board, the Compensation Committee, the Committee and the Plan Administrator (each, a “Delegating Authority”) shall have the authority to delegate from time to time, in writing, all or any part of his
or its responsibilities under the Plan to such person or persons (each, a “Delegate”) as he or it may deem advisable (and may authorize such Delegate, upon receiving the written consent of the Delegating Authority, to delegate such
responsibilities to such other person or persons as the Delegating Authority shall authorize), and in the same manner to revoke any such delegation of responsibility. Any action of the Delegate in the exercise of such delegated responsibilities
shall have the same force and effect for all purposes hereunder as if such action had been taken by such Delegate’s Delegating Authority. Any Delegating Authority shall remain responsible for any acts or omissions of any of its Delegates. Each
Delegate shall periodically report to its Delegating Authority concerning the discharge of the delegated responsibilities. 
     (b)     Allocations of Responsibility. Each of the Board, the Compensation Committee, the Committee and, if the Plan Administrator is more than one
person, the Plan Administrator (any of the foregoing, an “Allocating Authority”) shall have the authority to allocate from time to time, in writing, all or any part of its responsibilities under the Plan to one or more of its
members as it may deem advisable and, in the same manner to revoke such allocation of responsibilities. Any action of a member in the exercise of the responsibilities that have been allocated to him shall have the same force and effect for all
purposes hereunder as if such action had been taken by such member’s Allocating Authority. An Allocating Authority shall remain responsible for any acts or omissions of its member or members to whom its has allocated responsibilities. The
member to whom responsibilities have been allocated shall periodically report to his Allocating Authority concerning the discharge of the allocated responsibilities. 

  
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 ARTICLE VI 

Amendments; Termination 
 6.1     Amendment or Termination of the Plan. The Company shall have the sole right to alter, amend or terminate this Plan in whole or in part at any time and to change the tier
of participation or terminate the participation of any Participant; provided, however, that no amendment or termination that reduces the Severance Multiple or Severance Period applicable to any Participant (other than a termination of participation
or change in tier of participation pursuant to Section 3.1) shall become effective as to such Participant unless the Participant either (a) has consented to such amendment or termination, or (b) has received from Horace Mann at least
12 months’ prior written notice of such adverse amendment or termination that sets forth the date of termination or amendment. Any purported Plan termination or amendment in violation of this Section 6.1 shall be void and of no effect.

 ARTICLE VII 
 Claims Procedure 
 7.1     Filing a
Claim. 
 (a)     Each individual eligible for benefits under this Plan
(“Claimant”) may submit his application for benefits (“Claim”) to the Plan Administrator (or to such other person as may be designated by the Plan Administrator) in writing in such form as is provided or approved by
the Plan Administrator. A Claimant shall have no right to seek review of a denial or benefits, or to bring any action in any court to enforce a Claim, prior to his filing a Claim and exhausting his rights to review under Sections 7.1 and 7.2.

 (b)     When a Claim has been filed properly, it shall be evaluated and the Claimant
shall be notified of the approval or the denial of the Claim within 90 days after the receipt of such Claim. A Claimant shall be given a written notice in which the Claimant shall be advised as to whether the Claim is granted or denied, in whole or
in part. If a Claim is denied, in whole or in part, the notice shall contain (i) the specific reasons for the denial, (ii) references to pertinent provisions of this Plan on which the denial is based, (iii) a description of any
additional material or information necessary to perfect the Claim and an explanation of why such material or information is necessary, and (iv) the Claimant’s right to seek review of the denial. 

7.2     Review of Claim Denial. If a Claim is denied, in whole or in part, or if a Claim is
neither approved nor denied within the 90-day period specified Section 7.1(b), the Claimant shall have the right, within 60 days after receipt of such denial (or after such claim to deemed denied), (i) request that the Committee (or such
other person as shall be designated in writing by the Committee) review the denial or the failure to approve or deny the Claim, (ii) review pertinent documents, and (iii) submit issues and comments in writing. Within 60 days after a such
request is received, the Committee shall complete its review and give the Claimant written notice of its decision. The Committee shall include in its notice to Claimant the specific reasons for its decision and references to provisions of this Plan
on which its decision is based. 

  
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 ARTICLE VIII 

Restrictive Covenants 
 8.1     Confidentiality. During the course of the Participant’s employment with the Employer, the Participant will have access to Confidential Information. For purposes of
this Agreement, “Confidential Information” means all data, information, ideas, concepts, discoveries, trade secrets, inventions (whether or not patentable or reduced to practice), innovations, improvements, know-how, developments,
techniques, methods, processes, treatments, drawings, sketches, specifications, designs, patterns, models, plans and strategies, and all other confidential or proprietary information or trade secrets in any form or medium (whether merely remembered
or embodied in a tangible or intangible form or medium) whether now or hereafter existing, relating to or arising from the past, current or potential business, activities and/or operations of the Company or any of its Affiliates, including, without
limitation, any such information relating to or concerning finances, sales, marketing, advertising, transition, promotions, pricing, personnel, customers, suppliers, vendors, raw partners and/or competitors. The Participant agrees that the
Participant shall not, directly or indirectly, use, make available, sell, disclose or otherwise communicate to any person, other than in the course of his or her assigned duties and for the benefit of the Employer, either during the period of the
Participant’s participation in the Plan, the Participant’s employment or at any time thereafter, any Confidential Information or other confidential or proprietary information received from third parties subject to a duty on the
Employer’s and its Affiliates’ part to maintain the confidentiality of such information, and to use such information only for certain limited purposes, in each case, which shall have been obtained by the Participant during his or her
employment by the Employer (or any predecessor). The foregoing shall not apply to information that (i) was known to the public prior to its disclosure to the Participant, (ii) becomes generally known to the public subsequent to disclosure
to the Participant through no wrongful act of the Participant or any representative of the Participant, or (iii) the Participant is required to disclose by applicable law, regulation or legal process (provided that the Participant provides the
Employer with prior notice of the contemplated disclosure and cooperates with the Employer at its expense in seeking a protective order or other appropriate protection of such information). 

8.2     Noncompetition. The Participant acknowledges that (i) the Participant performs
services of a unique nature for the Employer that are irreplaceable, and that the Participant’s provision of such services to a “Competitor” (as defined below) will result in irreparable harm to the Company, (ii) the Participant
has had and will continue to have access to Confidential Information which, if disclosed, would unfairly and inappropriately assist in competition against the Company or any of its Affiliates, (iii) in the course of the Participant’s
provision of services to a Competitor, the Participant would inevitably use or disclose such Confidential Information, and (iv) the Employer and its Affiliates have substantial relationships with their customers and the Participant has had and
will continue to have access to these customers. Accordingly, during the Participant’s employment hereunder and for a period of time thereafter equal to the Severance Period, the Participant agrees that the Participant will not, directly or
indirectly, seek or obtain a Competitive Position in a Restricted Territory and perform a Restricted Activity with or for a Competitor, as those terms are defined herein. 

(a)     Competitive Position means any employment or performance of services with a Competitor in
which Participant has executive or Senior Management level duties for such 

  
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Competitor. 
 (b)     Restricted
Territory means any geographic area in which the Company does business and in which Participant had responsibility for, or Confidential Information about, such business within the twenty-four (24) months prior to Participant’s termination
of employment from the Company. 
 (c)     Restricted Activity means any activity for which
Participant had executive responsibility for the Company within the twenty-four (24) months prior to Participant’s termination of employment from the Company or about which Participant had Confidential Information. 

(d)     Competitor means any entity or individual (other than the Company), that derives a primary
portion of its revenue by providing the following services to educators and educational institutions: sales and underwriting of property, casualty and life insurance, annuity products and related financial products or other products or services
substantially the same or similar to those offered by the Company or an Affiliate while Participant was employed, or other products or services offered by the Company or an Affiliate within twenty four (24) months prior to the termination of
Participant’s employment if Participant had responsibility for, or Confidential Information about, such other products or services while Participant was employed by the Company or an Affiliate. 

Notwithstanding the foregoing, nothing herein shall prohibit the Participant from being a passive owner of not more than one percent
(1%) of the equity securities of a publicly traded Competitor, so long as the Participant has no active participation in the business of such Competitor. 
 8.3     Nonsolicitation; Noninterference. During the Participant’s employment with the Employer and for a period of time thereafter equal to the Severance Period, the
Participant agrees that the Participant shall not, except in the furtherance of the Participant’s duties hereunder, directly or indirectly, individually or on behalf of any other person, firm, corporation or other entity, (i) solicit, aid
or induce any customer of the Company or any of its Affiliates to purchase goods or services then sold by the Company or any of its Affiliates from another person, firm, corporation or other entity or assist or aid any other person or entity in
identifying or soliciting any such customer, (ii) solicit, aid or induce any employee, representative or agent of the Company or any of its Affiliates to leave such employment or retention or to accept employment with or render services to or
with any other person, firm, corporation or other entity unaffiliated with the Company or hire or retain any such employee, representative or agent, or take any action to materially assist or aid any other person, firm, corporation or other entity
in identifying, hiring or soliciting any such employee, representative or agent, or (iii) interfere, or aid or induce any other person or entity in interfering, with the relationship between the Company or any of its Affiliates and any of their
respective vendors, joint venturers or licensors. An employee, representative or agent shall be deemed covered by this Section 8.3 while so employed or retained and for a period of six (6) months thereafter. Notwithstanding the foregoing,
the provisions of this Section 8.3 shall not be violated by general advertising or solicitation not specifically targeted at Company-related persons or entities. 

  
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 8.4     Non-disparagement. The Participant agrees
(whether or not then a Participant) not to make negative comments or otherwise disparage the Company, its Affiliates, or any of their officers, directors, employees, shareholders, members, agents or products other than in the good faith performance
of the Participant’s duties to the Company and its Affiliates while the Participant is employed by the Company and its Affiliates and thereafter. The foregoing shall not be violated by truthful statements in response to legal process, required
governmental testimony or filings, or administrative or arbitral proceedings (including, without limitation, depositions in connection with such proceedings). 
 8.5     Return of Company Property. On the date of the Participant’s Termination of Employment for any reason (or at any time prior thereto at the Employer’s request),
the Participant (whether or not then a Participant) shall return all property belonging to the Company or its Affiliates (including, but not limited to, any Employer-provided laptops, computers, cell phones, wireless electronic mail devices or other
equipment, or documents and property belonging to the Employer). 
 8.6
    Reasonableness of Covenants. In becoming a Participant, the Participant gives the Company and its Affiliates assurance that the Participant has carefully read and considered all of the terms and conditions of this
Agreement, including the restraints imposed under this Article VIII. The Participant agrees that these restraints are necessary for the reasonable and proper protection of the Company and its Affiliates and their Confidential Information and
that each and every one of the restraints is reasonable in respect of subject matter, length of time and geographic area, and that these restraints, individually or in the aggregate, will not prevent the Participant from obtaining other suitable
employment during the period in which the Participant is bound by the restraints. 
 8.7
    Reformation. If it is determined by a court of competent jurisdiction in any state that any restriction in this Article VIII is excessive in duration or scope or is unreasonable or unenforceable under applicable law,
it is the intention of the parties that such restriction may be modified or amended by the court to render it enforceable to the maximum extent permitted by the laws of that state. 

8.8     Tolling. In the event of any violation of the provisions of this Article VIII, the
Participant acknowledges and agrees that the post-termination restrictions contained in this Article VIII shall be extended by a period of time equal to the period of such violation, it being the intention of the parties hereto that the running
of the applicable post-termination restriction period shall be tolled during any period of such violation. 

8.9     Survival of Provisions. The obligations contained in this Article VIII shall survive
the termination of the Participant’s status as a Participant, the Participant’s Termination of Employment with the Employer, and the amendment or termination of the Plan and shall be fully enforceable thereafter. 

8.10     Equitable Relief and Other Remedies. The Participant acknowledges and agrees that the
remedies at law of the Company and its Affiliates for a breach or threatened breach of any of the provisions of Section 8.1, 8.2, 8.3 or 8.4 hereof would be inadequate and, in recognition of this fact, the Participant agrees that, in the event
of such a breach or threatened 

  
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breach, in addition to any remedies at law, the Company and any Affiliate shall be entitled to obtain equitable relief in the form of specific performance, a temporary restraining order, a
temporary or permanent injunction or any other equitable remedy which may then be available, without the necessity of showing actual monetary damages or the posting of a bond or other security. In the event of a violation by the Participant of
Section 8.1, 8.2, 8.3 or 8.4, any severance (or other amount described in Section 4.1(a)(ii), (iii) and (c)) being paid to the Participant under this Plan or otherwise shall immediately cease, and any severance (or other amount paid
under Section 4.1(a)(ii), (iii) and (c)) previously paid to the Participant shall be immediately repaid to the Employer. 
 ARTICLE IX 
 Release; No Mitigation; No Duplication of Benefits

 9.1     Release Required. Any and all amounts payable and benefits or
additional rights provided pursuant to this Plan other than the Accrued Obligations shall only be payable if the Participant (or Participant’s beneficiary in the event of Participant’s death) timely delivers to the Employer and does not
revoke a general waiver and release of claims in favor of the Company and related parties (“Company Parties”) in a form acceptable to the Company substantially similar to the form attached hereto as Exhibit A, with such changes the
Company deems appropriate in light of legal developments, and the revocation period related to such general waiver and release has expired. Such general waiver and release shall be executed and delivered (and the revocation period related thereto,
if any, shall have lapsed without revocation having been made) within sixty (60) days following the Termination Date. 
 9.2     No Mitigation. No Participant shall have any duty to mitigate the amounts payable under this Plan by seeking or accepting new employment or self-employment following
termination. Except as specifically otherwise provided in this Plan, all amounts payable pursuant to this Plan shall be paid without reduction regardless of any amounts of salary, compensation or other amounts that may be paid or payable to the
Participant as the result of the Participant’s employment by another employer or self-employment. 
 9.3
    No Duplication of Benefits; Recoupment. Subject to Section 4.3 and 10.11(f), salary continuation payments hereunder shall be offset (at the time otherwise payable) by any salary continuation payments under the
Horace Mann Service Corporation Severance Pay Plan (which provides solely for limited salary continuation payments) or any other plan, policy or individual agreement providing for salary continuation payments. Payments and benefits provided under
the Plan shall be in lieu of any termination or severance payments or benefits for which the Participant may be eligible under any of the plans or policies of the Company or an Affiliate or any agreement between an individual and the Company or an
Affiliate, or under the Worker Adjustment Retraining Notification Act of 1988 or any similar statute or regulation. Any amounts paid or provided under the Plan shall be subject to the Employer’s policies regarding recoupment as in effect from
time to time. 

  
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 ARTICLE X 

Miscellaneous 
 10.1     Participant Information. Each Participant shall notify the Committee of his home address and each change of home address. Each Participant shall also furnish the
Committee with any other information and data that the Committee considers necessary for the proper administration of the Plan. The information provided by the Participant under this Section shall be binding on the Participant, his dependents and
any beneficiary for all purposes of the Plan and the Committee shall be entitled to rely on any representations regarding personal facts made by a Participant, his dependents or beneficiary, unless such representations are known to be false.

 10.2     Governing Law. The provisions of this Plan shall be governed, construed
and administered in accordance with the laws of the State of Illinois, other than its laws respecting choice of law, except to the extent preempted by federal law. 

10.3     Notices. All notices and other communications under this Plan shall be in writing and
delivered by hand, by nationally recognized delivery service that promises overnight delivery, or by first-class registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 

If to Participant, at his most recent home address on 
 file with the Company. 
 If to the Company or any other Employer, 

The Horace Mann Service Corporation 
 One Horace Mann Plaza 
 Springfield, IL 62715 

Attn.: Corporate Secretary 
 or to such other address as either party shall have furnished to the other in writing. Notice and communications shall be effective the day of delivery if delivered by hand, the second business day after
deposit with an overnight delivery service if so deposited, or the fifth business day after mailing in the case of first class registered or certified mail. 
 10.4     No Employment Contract. The existence of this Plan shall not confer any legal or other rights upon any Participant to employment or continuation of employment.
Employees are employees at will. The Company and each Employer reserve the right to terminate any Participant with or without cause at any time, notwithstanding the provisions of this Plan. 

10.5     Headings. The headings in this Plan are for convenience of reference and shall not be
given substantive effect. 
 10.6     Construction. Any masculine pronoun shall also
mean the corresponding female or neuter pronoun, as the context requires. The singular and plural forms of any term used in this Plan shall be interchangeable, as the context requires. 

  
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 10.7     Joint and Several Liability. In the
event that any Employer incurs any obligation to a Participant pursuant to this Plan, such Employer, the Company and each Affiliate, if any, of which such Employer is a subsidiary shall be jointly and severally liable with such Employer for such
obligation. 
 10.8     Successors. This Plan shall inure to the benefit of and be
binding upon the Company, each Employer and their respective successors and assigns. The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or
assets of any Employer to assume expressly and agree to comply with this Plan in the same manner and to the same extent that the Employer would be required to comply with it if no such succession had taken place. Any successor to the business or
assets of any Employer that assumes or agrees to perform this Plan by operation of law, contract, or otherwise shall be jointly and severally liable with the Employer under this Plan as if such successor were the Employer. 

10.9     Payments to Beneficiary. If a Participant dies after becoming entitled to payments
under Section 3.3 but before receiving all amounts to which he is entitled under this Plan, then, subject to Section 9.1, such remaining amounts shall be paid in a lump sum to the Participant’s surviving spouse, if any, or if none, to
the Participant’s estate, unless, in either case, the Participant designates one or more beneficiaries in writing for the purposes of this Plan and such designation is received by the Plan Administrator prior to the Participant’s death, in
which case, such remaining amounts shall be paid in a lump sum to such designated beneficiary. 
 10.10
    Non-Alienation of Benefits. Benefits payable under this Plan shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, charge, garnishment, execution or levy of
any kind, either voluntary or involuntary, before actually being received by the Participant, and any such attempt to dispose of any right to benefits payable under this Plan shall be void. Notwithstanding anything in this Plan to the contrary, an
order determined by the Committee to be a Qualified Domestic Relations Order under ERISA shall be complied with. 
 10.11     Tax Matters. 
 (a)
    An Employer may withhold from any amounts payable under this Plan or from any other amount due a Participant any Taxes that are required to be withheld pursuant to any applicable law or regulation. 

(b)     The intent of the Employers is that payments and benefits under this Plan are exempt from or
comply with Code Section 409A and, accordingly, to the maximum extent permitted, this Plan shall be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order to comply with Code Section 409A,
such modification shall be made in good faith and shall, to the maximum extent reasonably possible, maintain the original intent and economic benefit to the Participant and the Employer of the applicable provision without violating the provisions of
Code Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on a Participant or Employee by Code Section 409A or damages for failing to comply with Code
Section 409A. 

  
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 (c)     If a Participant is deemed on the Termination
Date to be a “specified employee” within the meaning of that term under Code Section 409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is considered “nonqualified deferred compensation”
under Code Section 409A payable on account of a “separation from service,” such payment or benefit shall not be made or provided until the date which is the earlier of (i) the expiration of the six (6)-month period measured from
the date of such “separation from service” of the Employee, and (ii) the date of the Employee’s death, to the extent required under Code Section 409A. Upon the expiration of the foregoing delay period, all payments and
benefits delayed pursuant to this provision (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed to the Employee in a lump sum without interest, and all
remaining payments and benefits due under this Plan shall be paid or provided in accordance with the normal payment dates specified for them herein. 
 (d)     To the extent that reimbursements or other in-kind benefits under this Plan constitute “nonqualified deferred compensation” for purposes of Code Section 409A,
(A) all expenses or other reimbursements hereunder shall be made on or prior to the last day of the taxable year following the taxable year in which such expenses were incurred by the Participant, (B) any right to reimbursement or in-kind
benefits shall not be subject to liquidation or exchange for another benefit, and (C) no such reimbursement, expenses eligible for reimbursement, or in-kind benefits provided in any taxable year shall in any way affect the expenses eligible for
reimbursement, or in-kind benefits to be provided, in any other taxable year. 
 (e)
    For purposes of Code Section 409A, the Participant’s right to receive installment payments pursuant to this Plan shall be treated as a right to receive a series of separate and distinct payments. Whenever this Plan
specifies a payment period with reference to a number of days, the actual date of payment within the specified period shall be within the sole discretion of the Employer; provided that if the timing of the payment is contingent on the lapse or
expiration of the revocation period described in Exhibit A and such revocation period could, as of the Termination Date, lapse or expire either in the same year as the Termination Date or in the following year, the actual date of such payment within
the specified period shall be in such following year. 
 (f)     Notwithstanding any other
provision of this Plan to the contrary, in no event shall any payment or benefit under this Plan that constitutes “nonqualified deferred compensation” for purposes of Code Section 409A be subject to offset by any other amount unless
such offset would not trigger additional taxes and penalties under Code Section 409A. 
 (g)
    If it is reasonably determined (by the computation of the Company’s independent auditors, which determination and computations shall be certified by such auditors and set forth in a written certificate delivered to a
Participant) that any amount payable or deemed payable to such Participant under this Plan or otherwise (collectively, the “Payments”) will be subject to any excise tax under Section 4999 of the Code or any similar tax payable under
any United States federal, state, local or other law (such excise tax and all such similar taxes collectively, “Excise Taxes”) or will fail to be deductible by the Employer or the Company by reason of Section 280G of the Code, then
unless on a net after-tax basis (i.e., after payment of all applicable income taxes, Excise Taxes and other applicable taxes) the Participant would retain a greater amount without such reduction, the Payments shall be reduced to an amount that

  
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maximizes the aggregate after-tax present value (determined as of the Participant’s Termination Date) of all Payments without causing any portion of the Payments to be subject to Excise
Taxes or to not be deductible by the Employer or the Company. 
 (h)     If, after the
receipt by a Participant of any such Payment, the Payments (or any portion thereof) shall become subject to any Excise Taxes or shall become nondeductible by the Employer or the Company, such Participant shall repay to his Employer that amount that
exceeds the greatest amount of Payments that could be paid to the Participant without causing the Participant to become liable for any Excise Taxes or without causing any of the Payments to become nondeductible by the Employer or the Company.

 (i)     For purposes of this Section 10.11, “Excise Taxes” shall not
include taxes, interest or penalties under Section 409A of the Code. 
 10.12
    Severability. If any one or more Articles, Sections or other portions of this Plan are declared by any court or governmental authority to be unlawful or invalid, such unlawfulness or invalidity shall not serve to
invalidate any Article, Section or other portion not so declared to be unlawful or invalid. Any Article, Section or other portion so declared to be unlawful or invalid shall be construed so as to effectuate the terms of such article, section or
other portion to the fullest extent possible while remaining lawful and valid. Notwithstanding the foregoing, if the release required under Section 9.1 is declared unlawful or invalid, no amounts shall be paid or provided under
Section 4.1(a)(ii), 4.1(a)(iii), or 4(c). 
 Dated: March 8, 2012 

 

	
	 HORACE MANN EDUCATORS CORPORATION
  

	
	/s/ Peter H. Heckman
	Peter Heckman
	President & CEO
	
	 HORACE MANN SERVICE CORPORATION

 

	
	/s/ Ann M. Caparros
	Ann M. Caparrós
	Corporate Secretary

  
 - 20 -

 EXHIBIT A 
 GENERAL RELEASE AND WAIVER 
 1.
    I,                                 , in consideration of
and subject to the performance by Horace Mann Service Corporation (together with Horace Mann Educators Corporation and Affiliates, the “Company Parties”), of its obligations under the Horace Mann Service Corporation Executive
Severance Plan, and as amended from time to time prior to the date hereof (the “Plan”), do hereby release and forever discharge as of the date hereof the Company Parties and their respective affiliates, subsidiaries and direct or
indirect parent entities and all present, former and future shareholders, directors, officers, agents, representatives, employees, successors and assigns of the Company and/or its respective affiliates, subsidiaries and direct or indirect parent
entities (collectively, the “Released Parties”) to the extent provided below (this “General Release”). The Released Parties are intended to be third-party beneficiaries of this General Release, and this
General Release may be enforced by each of them in accordance with the terms hereof in respect of the rights granted to such Released Parties hereunder. Terms used herein but not otherwise defined shall have the meanings given to them in the Plan.

 2.     I understand that any payments or benefits paid or granted to me under
Section 5.1 or 6.1 of the Plan (other than the Accrued Obligations) represent, in part, consideration for signing this General Release and are not salary, wages or benefits to which I was already entitled. I understand and agree that I will not
receive certain of the payments and benefits specified in the Plan unless I execute this General Release and do not revoke this General Release within the time period permitted hereafter. Such payments and benefits will not be considered
compensation for purposes of any employee benefit plan, program, policy or arrangement maintained or hereafter established by the Company or its Affiliates. 
 3.     Except as provided in paragraphs 5, 10, and 12 below and except for the provisions of the Plan which expressly survive the termination of my employment with the Company, I
knowingly and voluntarily (for myself, my heirs, executors, administrators and assigns) release and forever discharge the Company and the other Released Parties from any and all claims, suits, controversies, actions, causes of action, cross-claims,
counter-claims, demands, debts, compensatory damages, liquidated damages, punitive or exemplary damages, other damages, claims for costs and attorneys’ fees, or liabilities of any nature whatsoever in law and in equity, both past and present
(through the date that this General Release becomes effective and enforceable) and whether known or unknown, suspected, or claimed against the Company or any of the Released Parties which I, my spouse, or any of my heirs, executors, administrators
or assigns, may have, which arise out of or are connected with my employment with, or my separation or termination from, the Company (including, but not limited to, any allegation, claim or violation, arising under: Title VII of the Civil Rights Act
of 1964, as amended; the Civil Rights Act of 1991; the Age Discrimination in Employment Act of 1967, as amended (including the Older Workers Benefit Protection Act); the Equal Pay Act of 1963, as amended; the Americans with Disabilities Act of 1990;
the Family and Medical Leave Act of 1993; the Worker Adjustment Retraining and Notification Act; the Employee Retirement Income Security Act of 1974; any applicable Executive Order Programs; the Fair Labor Standards Act; or their

  
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state or local counterparts; or under any other federal, state or local civil or human rights law, or under any other local, state, or federal law, regulation or ordinance; or under any public
policy, contract or tort, or under common law; or arising under any policies, practices or procedures of the Company; or any claim for wrongful discharge, breach of contract, infliction of emotional distress, defamation; or any claim for costs,
fees, or other expenses, including attorneys’ fees incurred in these matters) (all of the foregoing collectively referred to herein as the “Claims”). 

4.     I represent that I have made no assignment or transfer of any right, claim, demand, cause of
action, or other matter covered by paragraph 2 above. 
 5.     I agree that this General
Release does not waive or release any rights or claims that I may have under the Age Discrimination in Employment Act of 1967 which arise after the date I execute this General Release. I acknowledge and agree that my separation from employment with
the Company in compliance with the terms of the Plan shall not serve as the basis for any claim or action (including, without limitation, any claim under the Age Discrimination in Employment Act of 1967). 

6.     I agree that I hereby waive all rights to sue or obtain equitable, remedial or punitive relief
from any or all Released Parties of any kind whatsoever in respect of any Claim, including, without limitation, reinstatement, back pay, front pay, and any form of injunctive relief. Notwithstanding the above, I further acknowledge that I am not
waiving and am not being required to waive any right that cannot be waived under law, including the right to file an administrative charge or participate in an administrative investigation or proceeding; provided, however, that I
disclaim and waive any right to share or participate in any monetary award resulting from the prosecution of such charge or investigation or proceeding. Additionally, I am not waiving (i) any right to the Accrued Obligations or any severance
benefits to which I am entitled under the Plan, (ii) any claim relating to directors’ and officers’ liability insurance coverage or any right of indemnification under the Company’s organizational documents or otherwise,
(iii) my rights as an equity or security holder in the Company or its Affiliates, or (iv) my rights under any equity awards that survive termination of employment. 

7.     In signing this General Release, I acknowledge and intend that it shall be effective as a bar
to each and every one of the Claims hereinabove mentioned or implied. I expressly consent that this General Release shall be given full force and effect according to each and all of its express terms and provisions, including those relating to
unknown and unsuspected Claims (notwithstanding any state or local statute that expressly limits the effectiveness of a general release of unknown, unsuspected and unanticipated Claims), if any, as well as those relating to any other Claims
hereinabove mentioned or implied. I acknowledge and agree that this waiver is an essential and material term of this General Release and that without such waiver I would not have become a Participant in the Plan. I further agree that in the event I
should bring a Claim seeking damages against the Company, or in the event I should seek to recover against the Company in any Claim brought by a governmental agency on my behalf, this General Release shall serve as a complete defense to such Claims
to the maximum extent permitted by law. I further agree that I am not aware of any pending claim of the type described in paragraph 2 above as of the execution of this General Release. 

  
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 8.     I agree that neither this General Release, nor
the furnishing of the consideration for this General Release, shall be deemed or construed at any time to be an admission by the Company, any Released Party or myself of any improper or unlawful conduct. 

9.     I agree that this General Release and the Plan are confidential and agree not to disclose any
information regarding the terms of this General Release or the Plan, except to my immediate family and any tax, legal or other counsel that I have consulted regarding the meaning or effect hereof or as required by law, and I will instruct each of
the foregoing not to disclose the same to anyone. 
 10.   Any non-disclosure provision in this
General Release does not prohibit or restrict me (or my attorney) from responding to any inquiry about this General Release or its underlying facts and circumstances by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory
Authority (FINRA), any other insurance regulatory organization or any governmental entity. 
 11.   I
represent that I am not aware of any claim by me other than the claims that are released by this General Release. I acknowledge that I may hereafter discover claims or facts in addition to or different than those which I now know or believe to exist
with respect to the subject matter of the release set forth in paragraph 3 above and which, if known or suspected at the time of entering into this General Release, may have materially affected this General Release and my decision to enter into it.

 12.   Notwithstanding anything in this General Release to the contrary, this General Release shall
not relinquish, diminish, or in any way affect any rights or claims arising out of any breach by the Company or by any Released Party of the Plan after the date hereof. 

13.   Whenever possible, each provision of this General Release shall be interpreted in, such manner as to be
effective and valid under applicable law, but if any provision of this General Release is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or
unenforceability shall not affect any other provision or any other jurisdiction, but this General Release shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained
herein. 
 14.   BY SIGNING THIS GENERAL RELEASE, I REPRESENT AND AGREE THAT: 

 

	 	  1.	    I HAVE READ IT CAREFULLY; 

  

	 	  2.	 I UNDERSTAND ALL OF ITS TERMS AND KNOW THAT I AM GIVING UP IMPORTANT RIGHTS, INCLUDING BUT NOT LIMITED TO, RIGHTS UNDER THE AGE DISCRIMINATION IN
EMPLOYMENT ACT OF 1967, AS AMENDED, TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, AS AMENDED; THE EQUAL PAY ACT OF 1963, THE AMERICANS WITH DISABILITIES ACT OF 1990; AND THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED;

  

	 	  3.	    I VOLUNTARILY CONSENT TO EVERYTHING IN IT; 

  
 - 23 -

	 	4.	 I HAVE BEEN ADVISED TO CONSULT WITH AN ATTORNEY BEFORE EXECUTING IT AND I HAVE DONE SO OR, AFTER CAREFUL READING AND CONSIDERATION, I HAVE CHOSEN NOT
TO DO SO OF MY OWN VOLITION; 

  

	 	5.	 I HAVE HAD AT LEAST [21][45] DAYS FROM THE DATE OF MY RECEIPT OF THIS RELEASE TO CONSIDER IT, AND THE CHANGES MADE SINCE MY RECEIPT OF THIS
RELEASE ARE NOT MATERIAL OR WERE MADE AT MY REQUEST AND WILL NOT RESTART THE REQUIRED [21][45]-DAY PERIOD; 

  

	 	6.	 I UNDERSTAND THAT I HAVE SEVEN (7) DAYS AFTER THE EXECUTION OF THIS RELEASE TO REVOKE IT AND THAT THIS RELEASE SHALL NOT BECOME EFFECTIVE OR
ENFORCEABLE UNTIL THE REVOCATION PERIOD HAS EXPIRED; 

  

	 	7.	 I HAVE SIGNED THIS GENERAL RELEASE KNOWINGLY AND VOLUNTARILY AND WITH THE ADVICE OF ANY COUNSEL RETAINED TO ADVISE ME WITH RESPECT TO IT; AND

  

	 	8.	I AGREE THAT THE PROVISIONS OF THIS GENERAL RELEASE MAY NOT BE AMENDED, WAIVED, CHANGED OR MODIFIED EXCEPT BY AN INSTRUMENT IN WRITING SIGNED BY AN AUTHORIZED
REPRESENTATIVE OF THE COMPANY AND BY ME. 

  

									
					
		 	SIGNED:	 	  	 	DATED:	 	  
		 		 	             Participant.
	 		 	

  
 - 24 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00201-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00201-of-00352.parquet"}]]