Document:

THE PHOENIX COMPANIES, INC.

EXHIBIT 10.8

FIRST AMENDMENT TO

THE PHOENIX COMPANIES, INC.

EXCESS BENEFIT PLAN

As Amended and Restated Effective January 1, 2009

The Phoenix Companies, Inc. Excess Benefit Plan, as amended and restated effective January 1, 2009 (the “Plan”), is further amended effective March 31, 2010, as follows:

1.

Article I is amended to add a new subsection at the end to read as follows:

1.3

Freeze of Accrued Benefits  The benefits of each Participant under this Plan shall be determined based on the Participant's Accrued Benefits under the Pension Plan, including any of the Retirement Benefits (as defined in the Pension Plan) to which a Participant may become entitled under the terms of Appendix V of the Pension Plan, and such Accrued Benefits for all Participants under the Pension Plan were frozen effective March 31, 2010, pursuant to the Eighteenth Amendment to the Pension Plan.THE PHOENIX COMPANIES, INC.

EXHIBIT 10.14

FIRST AMENDMENT TO

THE PHOENIX COMPANIES, INC. 

NON-QUALIFIED EXCESS INVESTMENT PLAN

As Amended and Restated Effective September 1, 2009

The Phoenix Companies, Inc. Non-qualified Excess Investment Plan, as amended and restated effective September 1, 2009 (the “Plan”), is further amended effective April 1, 2010, as follows:

1.

Section 2.17 is amended to insert the phrase, ", as applied under the Savings and Investment Plan" after the phrase, "Code section 401(a)(17)."

2.

Section 2.28 is amended to add a new sentence at the end to read as follows:

Effective April 1, 2010, any Employee who meets the eligibility requirements in Article III shall be considered a Participant on the date set forth in Section 3.02, regardless of whether such Employee elects to participate in the Plan.

3.

Article II is amended to add the following new definition in alphabetical order as Section 2.14, and each subsequent section of Article II is renumbered accordingly:

2.14

"Discretionary Contribution" shall have the meaning provided under the Savings and Investment Plan.

4.

Section 3.02 is amended and restated in its entirety to read as follows:

3.02

Commencement of Participation.  Each eligible Employee shall become a Participant in the Plan as of the January 1 or July 1 next following the date he or she meets the eligibility requirement in Section 3.01.

5.

Section 4.02(c) is amended to insert the phrase, "through March 31, 2010" after the phrase, "continuing thereafter for Grandfathered Participants only" in the first sentence and to delete the term, "and" at the end of the section.

6.

Section 4.02(d) is amended to add a new sentence after the table to read as follows:

Effective April 1, 2010, this Section 4.02(d) shall provide a matching Company credit, as set forth above, for each Plan Year (including, for 2010, only the Excess Earnings for the period from April 1, 2010 through December 31, 2010) with respect to which a Grandfathered Participant has a deferral election in effect under this Plan; and

7.

Section 4.02 is amended to add a new subsection (e) at the end to read as follows:

(e)

Effective April 1, 2010, for each Plan Year (including, for 2010, only the Excess Earnings for the period from April 1, 2010 through December 31, 2010) with 

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respect to a Participant who is eligible for a Discretionary Contribution, a non-elective Company credit equal to the Participant's Excess Earnings multiplied by the percentage of Discretionary Contribution provided under the Savings and Investment Plan for such year.  This non-elective Company credit shall be one hundred percent (100%) vested and credited as soon as practicable following the end of each Plan Year.

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EXHIBIT 10.17

FIRST AMENDMENT TO

THE PHOENIX COMPANIES, INC. 

NONQUALIFIED SUPPLEMENTAL EXECUTIVE

RETIREMENT PLAN 

As Amended and Restated Effective January 1, 2009

The Phoenix Companies, Inc. Nonqualified Supplemental Executive Retirement Plan, as amended and restated effective January 1, 2009 (the “Supplemental Plan”), is further amended effective March 31, 2010, as follows:

1.

Article I is amended to add a new subsection at the end to read as follows:

1.3

Freeze of Accrued Benefits  Notwithstanding any provision to the contrary, the accrual of benefits for all Participants under the Supplemental Plan shall cease and such benefits shall be frozen effective March 31, 2010, consistent with the Eighteenth Amendment to the Pension Plan.

2.

Section 2.1 is amended to add the following sentence at the end to read as follows:

The Accrued Benefits of all Participants shall be frozen and cease to accrue, to the extent they are not already frozen and ceased to accrue, at the end of business on March 31, 2010, consistent with the Eighteenth Amendment to the Pension Plan.

3.

Section 2.8 is amended to add the following sentence at the end to read as follows:

The Final Average Earnings of all Participants shall be frozen, to the extent they are not already frozen, for all purposes at the end of business on March 31, 2010, consistent with the Eighteenth Amendment to the Pension Plan.

4.

Section 2.10 is amended to add the following sentence at the end to read as follows:

The Incentive Compensation of each Participant shall be frozen, to the extent it is not already frozen, for all purposes at the end of business on March 31, 2010.

5.

Section 2.13 is amended to add the following sentence at the end to read as follows:

The Pension Equity Benefits of all Participants shall be frozen, to the extent they are not already frozen, for all purposes at the end of business on March 31, 2010, consistent with the Eighteenth Amendment to the Pension Plan.

6.

The first paragraph of Section 4.1 is amended and restated in its entirety to read as follows:

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4.1

Actively At Work on or After August 1, 2004  The amount of benefits provided under this Supplemental Plan effective July 1, 2007 for Participants actively at work on August 1, 2004 and thereafter through March 31, 2010 shall be the excess of (a) over (b) where:

7.

Section 4.3 is amended to insert the phrase "or March 31, 2010, if earlier" after the phrase, "the Rehired Participant's initial termination or transfer" at the end of the section.

8.

Section 4.6 is amended to add the following sentence at the end to read as follows:

Notwithstanding any provision to the contrary, the Plant Closing Benefit described in Section 3.08 of the Pension Plan, to the extent not already frozen, shall be frozen and cease to accrue, to the extent it is not already frozen and ceased to accrue, at the end of business on March 31, 2010, consistent with the Eighteenth Amendment to the Pension Plan.

9.

Article V is amended to add a new subsection at the end to read as follows:

5.3

Notwithstanding the freeze of all benefit accruals under the Supplemental Plan effective March 31, 2010, a Participant or Rehired Participant may continue to earn Years of Vesting Service after March 31, 2010 for purposes of vesting under Section 5.1 and attaining Early Retirement Age (as defined in the Pension Plan); provided, however, any service after March 31, 2010 shall not be credited to the Participant for purposes of determining such Participant's Accrued Benefit.

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EXHIBIT 10.20

FIRST AMENDMENT TO

THE PHOENIX COMPANIES, INC. 

NONQUALIFIED SUPPLEMENTAL EXECUTIVE

RETIREMENT PLAN B

As Amended and Restated Effective January 1, 2009

The Phoenix Companies, Inc. Nonqualified Supplemental Executive Retirement Plan B, as amended and restated effective January 1, 2009 (the “Supplemental Plan B”), is further amended effective March 31, 2010, as follows:

1.

Article I is amended to add a new subsection at the end to read as follows:

1.3

Freeze of Accrued Benefits  Notwithstanding any provision to the contrary, the accrual of benefits for all Participants under the Supplemental Plan B shall cease and such benefits shall be frozen effective March 31, 2010, consistent with the Eighteenth Amendment to the Pension Plan.

2.

Section 2.1 is amended to add the following sentence at the end to read as follows:

The Accrued Benefits of all Participants shall be frozen and cease to accrue, to the extent they are not already frozen and ceased to accrue, at the end of business on March 31, 2010, consistent with the Eighteenth Amendment to the Pension Plan.

3.

Section 2.8 is amended to add the following sentence at the end to read as follows:

The Final Average Earnings of all Participants shall be frozen, to the extent they are not already frozen, for all purposes at the end of business on March 31, 2010, consistent with the Eighteenth Amendment to the Pension Plan.

4.

Section 2.10 is amended to add the following sentence at the end to read as follows:

The Incentive Compensation of each Participant shall be frozen, to the extent it is not already frozen, for all purposes at the end of business on March 31, 2010.

5.

Section 2.13 is amended to add the following sentence at the end to read as follows:

The Pension Equity Benefits of all Participants shall be frozen, to the extent they are not already frozen, for all purposes at the end of business on March 31, 2010, consistent with the Eighteenth Amendment to the Pension Plan.

6.

Article III is amended to add a new subsection at the end to read as follows:

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3.4

Notwithstanding any provision to the contrary, effective on and after April 1, 2010, no employee of an Employer or any Participating Employer shall be eligible to become a Participant in the Supplemental Plan B.

7.

The first paragraph of Section 4.1 is amended and restated in its entirety to read as follows:

4.1

Actively At Work on or After August 1, 2004  The amount of benefits provided under this Supplemental Plan B effective July 1, 2007 for Participants actively at work on August 1, 2004 or thereafter through March 31, 2010 shall be the excess of (a) over (b) where:

8.

Section 4.2 is amended and restated in its entirety to read as follows:

4.2

Rehired Participant  Notwithstanding Section 4.1 to the contrary, in the event any Participant, including a Grandfathered Participant, terminates employment with or is no longer employed by  (i.e., transfers to a non-Participating Employer) the Employer or a Participating Employer and is rehired by the Employer or a Participating Employer following such termination or transfer (a "Rehired Participant"), for purposes of Sections 4.1(a)(i), the determination, if applicable, of the Rehired Participant's Final Average Earnings, including the amount of Incentive Compensation, shall be made as of the date of the Rehired Participant's initial termination or transfer or March 31, 2010, if earlier.  Any Rehired Participant (including former Grandfathered Participants and former participants in The Phoenix Companies, Inc. Nonqualified Supplemental Executive Retirement Plan, as amended and restated effective January 1, 2009) who has been re-approved pursuant to Section 3.2 shall accrue benefits on and after his or her rehire date solely under Section 4.1(a)(ii), but in no event shall any benefits accrue after March 31, 2010.

9.

Section 4.3(b) is amended and restated in its entirety to read as follows:

(b)

Newly Eligible Grandfathered Participants After June 30, 2007.  If a Grandfathered Participant becomes a Participant in this Supplemental Plan B after June 30, 2007, such Grandfathered Participant shall only accrue Pension Equity Benefits under Section 4.1(a)(ii) of this Supplemental Plan B, but in no event shall any benefits accrue after March 31, 2010.

10.

Section 5.1 is amended to add a new sentence after the table to read as follows:

For purposes of vesting under this Section 5.1, the term "years" in the table above refers to Years of Vesting Service, as defined in the Pension Plan.

 

11.

Article V is amended to add a new subsection at the end to read as follows:

5.3

Notwithstanding the freeze of all benefit accruals under the Supplemental Plan B effective March 31, 2010, a Participant or Rehired Participant may continue to 

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earn Years of Vesting Service after March 31, 2010 for purposes of vesting under Section 5.1 and attaining Early Retirement Age (as defined in the Pension Plan); provided, however, any service after March 31, 2010 shall not be credited to the Participant for purposes of determining such Participant's Accrued Benefit.

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