Document:

Fourth Amendment, Kansas City Life Excess Benefit Plan, as amended and restated

 Exhibit 10(d), Form 10-K 

Kansas City Life Insurance Company 
 FOURTH AMENDMENT 
 KANSAS CITY LIFE 

EXCESS BENEFIT PLAN 
 ARTICLE I 
 Definitions 

 

	 	1.	 “Act” shall mean the Employee Retirement Income Security Act of 1974 (ERISA), as from time to time amended. 

 

	 	2.	 “Pension Plan” shall mean the Kansas City Life Insurance Company Cash Balance Pension Plan, as amended from time to time.

  

	 	3.	 “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time. 

 

	 	4.	 “Company” shall mean Kansas City Life Insurance Company and any of its subsidiaries or affiliated business entities participating in the
Pension Plan. 

  

	 	5.	 “Effective date” shall mean January 1, 1999. 

 

	 	6.	 “Maximum benefit” shall mean the maximum benefit permitted by Sections 415 and 401(a)(17) of the Code to be paid to a participant under
the provisions of the Pension Plan. 

  

	 	7.	 “Participant” shall mean any employee of the Company who is an active participant in the Pension Plan on or after the effective date and
whose pension benefits determined on the basis of the provisions of such Pension Plan, without regard to the limitations of Sections 415 and 401(a)(17) of the Code, would exceed the maximum benefit. 

 

	 	8.	 “Plan” shall mean the Kansas City Life Excess Benefit Plan, as from time to time amended or restated, which shall be an unfunded plan
maintained by an employer primarily for the purpose of providing deferred compensation for a select group of management and highly compensated employees, as described in Act Section 201(2). 

 

	 	9.	 “Separation from service” means a separation from service as defined in Section 409A of the Code and Treasury regulation §
1.409A-1(h)(1). The term “separates from service” shall be interpreted in a manner that is consistent with Section 1.409A-1(h)(1). 

  

	 	10.	 “Unrestricted benefit” shall mean the maximum normal, early, or deferred vested retirement benefit, whichever is applicable, payable to a
participant pursuant to the provisions of the Pension Plan, determined without regard to the limitations of the Code imposed under Sections 415 and 401(a)(17). 

 ARTICLE II 
 Benefits 
  

	 	1.	 Normal retirement benefit: Upon separation from service following the retirement of a participant, as provided under the Pension Plan, such
participant shall be entitled to a benefit equal in amount to his unrestricted benefit less his or her maximum benefit. Subject to Section 2.5 below, the participant’s benefit shall be paid at the time elected, or otherwise determined,
under Section 2.4. 

  

	 	2.	 Deferred vested retirement benefit: If a participant separates from service with the Company and is entitled to a deferred vested retirement benefit
provided under the Pension Plan, such a participant shall be entitled to a benefit equal to his or her unrestricted benefit less his or her maximum benefit. Subject to Section 2.5 below, the participant’s benefit shall be paid at the time
elected, or otherwise determined, under Section 2.4. 

  

	 	3.	 Spouse’s pension benefit: Subject to Section 2. 4 below, upon the death of a participant whose spouse is eligible for a pre- or
post-retirement surviving spouse benefit under the Pension Plan, the participant’s surviving spouse shall be entitled to a benefit equal to the surviving spouse benefit determined in accordance with the provisions of the Pension Plan without
regard to the limitation under Code Sections 415 and 401(a)(17) less the maximum benefit payable with respect to the participant. Such benefit will be paid, or will commence payment, within ninety (90) days of the death of the participant,
provided, however, that if such ninety (90) day period begins and ends in different calendar years, payment will be made or commence in the second calendar year. 

 

	 	4.	 Optional forms of benefit payment: A retirement benefit payable under this ARTICLE II shall be paid in a form and at a time available pursuant to
the provisions of the Pension Plan. Available options for distribution include Lump Sum Payment, Single Life Annuity, 50% Joint and Survivor Annuity and 100% Joint and Survivor Annuity. Active participants as of December 1, 2008 must make their
elections by December 31, 2008. Newly eligible participants must make their elections within thirty (30) days of becoming participants in the Plan. Once made, the election is subject to the subsequent election regulations as described in
Code Section 409A and Treasury regulation § 1.409A-2(b). A lump sum shall be determined in the same manner as it is determined under the Pension Plan. Subject to Section 2.5 below, if no election is made, the default election shall be
a lump sum payment made within ninety (90) days of the participant’s separation from service, provided, however, that if such ninety (90) day period begins and ends in different calendar years, payment will be made or commence in the
second calendar year. 

  

	 	5.	 In the case of a participant who meets the definition of a “Specified Employee” as defined in Code Section 409A(a)(2)(B)(i), his or
her distribution shall be made, or shall commence, six (6) months after his or her separation from service. 

  
 - Page 2 -

 ARTICLE III 
 Administration of the Plan 
  

	 	1.	 Administrator: The Plan shall be administered by the Administrative Committee elected by the Company pursuant to the Pension Plan, and subject to
such authority detailed therein. The Administrator shall have the sole duty and responsibility of maintaining records, making the requisite calculations, and disbursing the payments hereunder. The Administrator shall have full and complete
discretionary authority in performing its duties. The Administrator’s interpretations, determinations, regulations, and calculations shall be final and binding on all persons and parties concerned. 

 

	 	2.	 Amendment and termination: Kansas City Life Insurance Company may amend or terminate the Plan at any time, provided, however, that no such amendment
or termination shall adversely affect a benefit to which a termination or retired participant or his beneficiary is entitled under ARTICLE II prior to the date of such amendment or termination unless the participant becomes entitled to an amount
equal to such benefit under another plan or practice adopted by the Company. 

  

	 	3.	 Payments: The Company will pay all benefits arising under this Plan and all costs, charges, and expenses relating thereto.

  

	 	4.	 Non-assignability of benefits: The benefits payable hereunder or the right to receive future benefits under the Plan may not be anticipated,
alienated, pledged, encumbered, or subjected to any charge or legal process, and if any attempt is made to do so, or a person eligible for any benefits becomes bankrupt, the interest under the Plan of the person affected may be terminated by the
Administrator which, in its sole discretions, may cause the same to be held or applied for the benefit of one or more of the departments of such person or make any other disposition of such benefits that it deems appropriate.

  

	 	5.	 Status of Plan: The benefits under the Plan shall not be funded, but shall constitute liabilities by the Company payable when due.

  

	 	6.	 Non-guarantee of employment: Nothing contained in the Plan shall be construed as a contract of employment between the Company and any participants,
or as a right of any participant to be continued in employment of the Company, or as a limitation on the right of the Company to discharge any of its employees, with or without cause. 

 

	 	7.	 Applicable law: All questions pertaining to the construction, validity and effect of the Plan shall be determined in accordance with the laws of the
United States and to the extent not pre-empted by such laws, by the laws of the State of Missouri. 

  

	 	8.	 Compliance with Section 409A of the Code: This Plan is intended to comply with Section 409A of the Code and shall be interpreted to comply
with Section 409A of the Code. To the extent that any provision of the plan violates Section 409A of the Code, such that amounts would be taxable to a participant prior to payment, such provision shall be automatically reformed or stricken
to preserve the intent to the extent permitted under Section 409A of the Code. Notwithstanding the foregoing, Kansas City Life Insurance Company does not guarantee any federal, state or local tax consequences associated with the participation
in this Plan, including without limitation Section 409A of the Code, and shall have no liability for any adverse tax consequences of any participant. 

  
 - Page 3 -

 IN WITNESS WHEREOF, Kansas City Life Insurance Company has caused the
Third Amendment to the Kansas City Life Excess Benefit Plan to be executed by its authorized Officers and its Corporate Seal to be hereunto affixed, to be signed effective as of January 1, 2009, on this 30th day of December, 2010. 

 

			
	 Kansas City Life Insurance Company

		
	 By:
	 	 /s/ A. Craig Mason, Jr.

		
	 Its:
	 	 Vice President

Attest: 
  

			
	 By:
	 	 /s/ Kimberly K. Farrow

		
	 Its:
	 	 Assistant Secretary

 

	
	(Corporate Seal)
	
	Officers:
	
	 /s/ Tracy W. Knapp

	
	 /s/ Mark A. Milton

	
	 /s/ Charles R. Duffy, Jr.

  
 - Page 4 -Kansas City Life Insurance Company Annual Incentive Plan Agreement

 Exhibit 10(k), Form 10-K 

Kansas City Life Insurance Company 
 Kansas City Life Insurance Company 
 Incentive Plan 

2010 

January 25, 2010 

 KANSAS CITY LIFE 2010 INCENTIVE PLAN 

GENERAL CONSIDERATIONS 

ELIGIBLE EMPLOYEES 
 For
2010, eligible employees for the 2010 Incentive Plan will be the President, CEO and Chairman, (Class I); Vice Chairman of the Board (Class IIA), Senior Vice Presidents (Class IIB); Vice Presidents (Class III); all associates with at least 675
“Hay Points” (Class IV); and all associates with “Hay Points” starting at 534 and ending with 674 (Class V). Class IV includes one (1) OAIC associate and the Chief Pilot. The salaries of all Class I, II, III, IV, and V
participants will total approximately $11.2 million during 2010. Presently there are 81 Class I, II, III, IV and V participants. 

EXCLUSIONS 
 The Plan
does not cover the following employees: 1) employees who would qualify as a Class IV or V participant, who are paid on the DP payline, and who do not have any supervisory responsibilities; 2) Kansas City Life Sales and Marketing employees included
in the Regional Incentive Compensation Program or other field compensation programs; 3) Old American employees included in the Old American Insurance Company Incentive Plan or the Old American Regional Incentive Compensation Program; and, 4) Kansas
City Life Group Department employees included in the Group Sales Incentive Plan. 
 TIMING OF PAYOUT 

It is the objective of the 2010 Incentive Plan to pay out awards after 2010 earnings are released to the public. 

CORPORATE VS INDIVIDUAL AWARDS — ALL CLASSES 
 All plan participants share the same three corporate goals: operating earnings, growth and expense control. With the exception of Class I, all awards include the achievement of two individual goals. The
individual goals are designed for each participant, but should support the overall corporate goals. Individual goals can be shared with other participants when teamwork is necessary to accomplish a shared strategic responsibility. 

 The Class I award is based entirely on the achievement of three corporate goals. 

Class IIA and Group Classes III, IV and V awards are based on the achievement of three corporate goals, three business unit goals and two
individual goals. 
 Class IIB, III, IV, and V awards are based on the achievement of three corporate goals and two individual
goals. 
 The weighting of awards for corporate versus individual goals differs for the various classes of participants. As an
example, the Class I participant is measured solely (100%) on the achievement of corporate goals while the Class IV and V participants are rewarded with a greater emphasis on achievement of corporate goals than individual goals (i.e., 65% of
the award is based on the achievement of corporate goals while 35% is based on the achievement of individual goals). 
 The
following table outlines the weighting of awards based on the achievement of corporate vs. individual goals for all classes of participants. 
  

									
	 	  	 Corporate/Business
 Unit Goals
	  	 	  	Individual Goals	  	 
					
	Class	  	 % Of Total
 Award*
	  	# Of Goals	  	 % Of Total
 Award*
	  	# Of Goals
	 I
	  	100%	  	3	  	N/A	  	0
	 IIA
	  	45%/40%	  	6	  	15%	  	2
	 IIB
	  	85%	  	3	  	15%	  	2
	 III
	  	75%	  	3	  	25%	  	2
	 III Group
	  	40%/35%	  	6	  	25%	  	2
	 IV
	  	65%	  	3	  	35%	  	2
	 IV Group
	  	35%/30%	  	6	  	35%	  	2
	 V
	  	65%	  	3	  	35%	  	2
	 V Group
	  	35%/30%	  	6	  	35%	  	2

 PLAN ADMINISTRATION
GUIDELINES 
 NEW HIRE 
 An employee hired into an incentive eligible position during the first two quarters of the calendar year will be eligible to participate in the Plan effective the first day of the month following the date
of hire. The employee will receive a prorata award from the Plan for the year in which the participant was hired. An employee hired in the last two quarters of the year will participate in the Plan beginning the following year. 

  
 2 

 PROMOTION FROM NON-INCENTIVE ELIGIBLE POSITION TO INCENTIVE ELIGIBLE POSITION 

An employee promoted during the first two quarters of the calendar year to an incentive eligible position will be eligible to participate
in the Plan effective the first day of the month following the date of promotion. They will receive a prorata award from the Plan for the year in which they were promoted. 
 Any employee promoted to an incentive eligible position in the last two quarters of the year will participate in the Plan beginning the following year. 

CHANGE IN CLASS FROM ONE LEVEL TO ANOTHER 
 Any employee changing from one class to another during the first two quarters of the year in which the Plan is already in place will receive prorated awards based on the full months of participation. Any
employee changing from one class to another during the last two quarters of the year will participate in the new class beginning the following year. 
 TERMINATION DUE TO DEATH, OR RETIREMENT 
 The participant will receive a
prorated award from the Plan for the year in which the event occurred. Awards will be calculated and prorated based on completion of corporate goals and the number of full months of employment during the Incentive Plan year. The determination for
payment of individual goals will be made by the appropriate Senior Vice President or the President and pro-rated in the same manner as the corporate goals. 
 TERMINATION DUE TO DISABILITY 
 The participant will receive a prorated
award from the Plan for the year in which the event occurred based on the number of months the participant was actively at work. Awards will be calculated and prorated based on completion of corporate goals and the number of full months the
participant was actively at work during the Incentive Plan year. The determination for payment of individual goals will be made by the appropriate Senior Vice President or the President and pro-rated in the same manner as the corporate goals.

 TERMINATION FOR ANY OTHER REASON 
 No award will be made from the Plan for the year in which termination occurred. 
 OTHER EVENTS

 Any changes regarding corporate goals, incentive design, and deviations from established guidelines will be made by the
President CEO and Chairman of the Board and the Compensation Committee of the Board. 

  
 3 

 EXHIBIT A 
 Award Matrices 
 CLASS I MATRIX 

  
 4 

 (President, CEO and Chairman) 

 

													
	 	  	Threshold	 	 	Target	 	 	Maximum	 
	 Corporate Goals
	  				 				 			
				
	 Goal 1 - Financial
	  	 	14.0%	  	 	 	28.0%	  	 	 	42.0%	  
	 Goal 2 - Growth
	  	 	14.0%	  	 	 	28.0%	  	 	 	42.0%	  
	 Goal 3 - Expense
	  				 	 	14.0%	  	 	 	14.0%	  
	 Total
	  	 	28.0%	  	 	 	70.0%	  	 	 	98.0%	  

 ADDITIONAL CONSIDERATIONS:

  

	*	 No awards if financial results (Net Income) are less than Earnings Trigger. 

	*	 The Financial and Growth goals are pro-rated for results between Threshold and Maximum. 

	*	 The Expense Goal is achieved or not achieved. 

  
 5 

 CLASS IIA MATRIX 

(Vice Chairman of the Board) 
  

													
	 	  	Threshold	 	 	Target	 	 	Maximum	 
	 Corporate Goals
	  				 				 			
	 Goal 1 - Financial
	  	 	3.600	% 	 	 	7.200	% 	 	 	10.800	% 
	 Goal 2 - Growth
	  	 	3.600	% 	 	 	7.200	% 	 	 	10.800	% 
	 Goal 3 - Expense
	  				 	 	3.600	% 	 	 	3.600	% 
	 Corporate Goal Total
	  	 	7.200	% 	 	 	18.000	% 	 	 	25.200	% 
				
	 Old American Goals
	  				 				 			
	 Goal 1 - Financial
	  	 	3.200	% 	 	 	6.400	% 	 	 	9.600	% 
	 Goal 2 - Growth
	  	 	3.200	% 	 	 	6.400	% 	 	 	9.600	% 
	 Goal 3 - Production
	  	 	1.600	% 	 	 	3.200	% 	 	 	4.800	% 
	 Business Unit Goal Total
	  	 	8.00	% 	 	 	16.000	% 	 	 	24.000	% 
				
	 Individual Goals
	  				 				 			
	 Individual Goal #1
	  	 	3.000	% 	 	 	3.000	% 	 	 	3.000	% 
	 Individual Goal #2
	  	 	3.000	% 	 	 	3.000	% 	 	 	3.000	% 
	 Individual Goal Total
	  	 	6.000	% 	 	 	6.000	% 	 	 	6.000	% 
				
	 Total
	  	 	21.200	% 	 	 	40.00	% 	 	 	55.200	% 

 ADDITIONAL CONSIDERATIONS: 

  

	*	 No awards if financial results (Net Income) are less than Earnings Trigger. 

	*	 The Financial and Growth goals are pro-rated for results between Threshold and Maximum. 

	*	 The Expense Goal is achieved or not achieved. 

  
 6 

 CLASS IIB MATRIX 

(Senior Vice Presidents) 
  

													
	 	  	Threshold	 	 	Target	 	 	Maximum	 
	 Corporate Goals
	  				 				 			
	 Goal 1 - Financial
	  	 	6.8	% 	 	 	13.6	% 	 	 	20.4	% 
	 Goal 2 - Growth
	  	 	6.8	% 	 	 	13.6	% 	 	 	20.4	% 
	 Goal 3 - Expense
	  				 	 	6.8	% 	 	 	6.8	% 
	 Corporate Goal Total
	  	 	13.6	% 	 	 	34.0	% 	 	 	47.6	% 
				
	 Individual Goals
	  				 				 			
	 Individual Goal #1
	  	 	3.0	% 	 	 	3.0	% 	 	 	3.0	% 
	 Individual Goal #2
	  	 	3.0	% 	 	 	3.0	% 	 	 	3.0	% 
	 Individual Goal Total
	  	 	6.0	% 	 	 	6.0	% 	 	 	6.0	% 
				
	 Total
	  	 	19.6	% 	 	 	40.0	% 	 	 	53.6	% 

 ADDITIONAL CONSIDERATIONS: 

  

	*	 No awards if financial results (Net Income) are less than Earnings Trigger. 

	*	 The Financial and Growth goals are pro-rated for results between Threshold and Maximum. 

	*	 The Expense Goal is achieved or not achieved. 

  
 7 

 CLASS III MATRIX 

(Vice Presidents) 
  

													
	 	  	Threshold	 	 	Target	 	 	Maximum	 
	 Corporate Goals
	  				 				 			
	 Goal 1 - Financial
	  	 	3.750	% 	 	 	7.500	% 	 	 	11.250	% 
	 Goal 2 - Growth
	  	 	3.750	% 	 	 	7.500	% 	 	 	11.250	% 
	 Goal 3 - Expense
	  				 	 	3.750	% 	 	 	3.750	% 
	 Corporate Goal Total
	  	 	7.500	% 	 	 	18.750	% 	 	 	26.250	% 
				
	 Individual Goals
	  				 				 			
	 Individual Goal #1
	  	 	3.125	% 	 	 	3.125	% 	 	 	3.125	% 
	 Individual Goal #2
	  	 	3.125	% 	 	 	3.125	% 	 	 	3.125	% 
	 Individual Goal Total
	  	 	6.250	% 	 	 	6.250	% 	 	 	6.250	% 
				
	 Total
	  	 	13.750	% 	 	 	25.00	% 	 	 	32.500	% 

 ADDITIONAL CONSIDERATIONS: 

  

	*	 No awards if financial results (Net Income) are less than Earnings Trigger. 

	*	 The Financial and Growth goals are pro-rated for results between Threshold and Maximum. 

	*	 The Expense Goal is achieved or not achieved. 

  
 8 

 CLASS IV MATRIX 

(Associates With >675 Hay Points) 
  

													
	 	  	Threshold	 	 	Target	 	 	Maximum	 
	 Corporate Goals
	  				 				 			
	 Goal 1 - Financial
	  	 	1.950	% 	 	 	3.900	% 	 	 	5.850	% 
	 Goal 2 - Growth
	  	 	1.950	% 	 	 	3.900	% 	 	 	5.850	% 
	 Goal 3 - Expense
	  				 	 	1.950	% 	 	 	1.950	% 
	 Corporate Goal Total
	  	 	3.900	% 	 	 	9.750	% 	 	 	13.650	% 
	 Individual Goals
	  				 				 			
	 Individual Goal #1
	  	 	2.625	% 	 	 	2.625	% 	 	 	2.625	% 
	 Individual Goal #2
	  	 	2.625	% 	 	 	2.625	% 	 	 	2.625	% 
	 Individual Goal Total
	  	 	5.250	% 	 	 	5.250	% 	 	 	5.250	% 
				
	 Total
	  	 	9.150	% 	 	 	15.00	% 	 	 	18.900	% 

 ADDITIONAL CONSIDERATIONS: 

  

	*	 No awards if financial results (Net Income) are less than Earnings Trigger. 

	*	 The Financial and Growth goals are pro-rated for results between Threshold and Maximum. 

	*	 The Expense Goal is achieved or not achieved. 

  
 9 

 CLASS V MATRIX 

(Associates With Points >533 and <675) 
  

													
	 	  	Threshold	 	 	Target	 	 	Maximum	 
	 Corporate Goals
	  				 				 			
	 Goal 1 - Financial
	  	 	1.30	% 	 	 	2.60	% 	 	 	3.90	% 
	 Goal 2 - Growth
	  	 	1.30	% 	 	 	2.60	% 	 	 	3.90	% 
	 Goal 3 - Expense
	  				 	 	1.30	% 	 	 	1.30	% 
	 Corporate Goal Total
	  	 	2.60	% 	 	 	6.50	% 	 	 	9.10	% 
	 Individual Goals
	  				 				 			
	 Individual Goal #1
	  	 	1.75	% 	 	 	1.75	% 	 	 	1.75	% 
	 Individual Goal #2
	  	 	1.75	% 	 	 	1.75	% 	 	 	1.75	% 
	 Individual Goal Total
	  	 	3.50	% 	 	 	3.50	% 	 	 	3.50	% 
				
	 Total
	  	 	6.10	% 	 	 	10.00	% 	 	 	12.60	% 

 ADDITIONAL CONSIDERATIONS: 

  

	*	 No awards if financial results (Net Income) are less than Earnings Trigger. 

	*	 The Financial and Growth goals are pro-rated for results between Threshold and Maximum. 

	*	 The Expense Goal is achieved or not achieved. 

  
 10 

 EXHIBIT B 
 SUMMARY OF 2010 CORPORATE GOALS 
 Earnings Trigger - Measured by Net Income on a
calendar year basis: $21.67 MM 
 Corporate Goals 
  

			
	 I.      FINANCIAL GOAL: Operating Earnings measured on a
calendar year basis

		
	 Target
	  	 $27.07MM

	 Threshold:
	  	 $21.66MM

	 Maximum:
	  	 $32.49MM

	
	 The incentive plan costs will be excluded from the operating income results for incentive plan
purposes.

	
	 II.     GROWTH GOAL: Life insurance Target
Premium

	
	 Kansas City Life (Counts 80%)

	 Target:
	  	 $10,301,000 (7.5% Increase)

	 Threshold:
	  	 $10,061,000 (5% Increase)

	 Maximum:
	  	 $10,540,000 (10% Increase)

	
	 GuideOne, ARIC & Other Distribution Partners(Counts 20%)

	 Target:
	  	 $1,229,000 (7.5% Increase)

	 Threshold:
	  	 $1,200,000 (5% Increase)

	 Maximum:
	  	 $1,257,000 (10% Increase)

	
	 III.   EXPENSE GOAL: Controllable Expenses
(Adjusted)

		
	 Goal:
	  	 $73.082 MM (0% Increase to 2009 Controllable Expenses)

  
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