Document:

Exhibit

Exhibit 4.3

Description of the Registrant’s Securities
Registered Pursuant to Section 12 of the
Securities Exchange Act of 1934, as Amended

Common stock, with par value $0.001 per share, preferred stock with a par value $0.001 per share are the only classes of equity securities of Horace Mann Educators Corporation, a Delaware corporation (the Company), registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended. The common stock is listed on the New York Stock Exchange under the symbol “HMN”.

The following description of the Company’s common stock is a summary and does not purport to be complete. It is subject to, and qualified in its entirety by, reference to the Company’s Restated Certificate of Incorporation (Certificate) and Bylaws each of which are incorporated by reference as an exhibit to the Annual Report on Form 10-K of which this Exhibit 4.3 is a part, and the Delaware General Corporation Law (DGCL). The Company encourages you to read the Certificate, the Bylaws and the applicable provisions of DGCL for additional information.

Authorized Shares of Capital Stock
The Certificate authorizes the issuance of 76,000,000 shares of capital stock, consisting of 75,000,000 shares of common stock (Common Stock) and 1,000,000 shares of preferred stock (Preferred Stock). The Preferred Stock may be issued from time to time in one or more series.  The Board of Directors of the Company (Board) is vested with authority to fix by resolution or resolutions the designations and the powers, preferences and relative participation, optional or other special rights, and qualifications, limitations or restrictions thereof, including without limitation the dividend rate, conversion or exchange rights, redemption price and liquidation preference, of any series of the Preferred Stock, and to fix the number of shares constituting any such series, and to increase or decrease the number of shares of any such series (but not below the number of shares thereof outstanding). In case the number of shares of any such series shall be so decreased, the shares constituting such decrease shall resume the status which they had prior to the adoption of the resolution or resolutions originally fixing the number of shares of such series.
Voting Rights
Each share of Common Stock shall entitle the holder thereof to one vote, in person or by proxy, at any and all meetings of the Shareholders of the Company on all propositions before such meetings.

In all elections for Directors, every Shareholder shall have the right to one vote for each share of Common Stock owned by that Shareholder and that Shareholder can cast his or her votes in person or by proxy for as many persons as there are Directors to be elected.

All other preferences and rights, and the qualifications, limitations or restrictions in respect to each class of stock shall be as stated in the Bylaws and on the back of the certificates of such class of stock.

Dividends; Liquidation
The DGCL permits a corporation to declare and pay dividends upon its shares out of (i) surplus or, (ii) if there is no surplus, out of net profits for the fiscal year in which the dividend is declared and/or for the preceding fiscal year as long as the amount of capital of the corporation following the declaration and payment of the dividend is not less than the aggregate amount of the capital represented by the issued and outstanding stock of all classes having a preference upon the distribution of assets.

1

Subject to the preferences of any outstanding shares of preferred stock, holders of common stock have equal ratable rights to dividends (payable in cash, stock or property) out of funds legally available for that purpose, when, as and if dividends are declared by the Board. Holders of common stock are entitled to share ratably, as a single class, in all of the assets of the Company available for distribution to holders of shares of common stock upon the liquidation or dissolution of the Company or the winding up of the affairs of the Company, after payment of the Company’s liabilities and any amounts to holders of outstanding shares of preferred stock.

Written Consent
The DGCL provides that shareholders may take action by the written consent of the holders of shares having not less than the minimum number of votes necessary to take action at a meeting in which all shares entitled to vote on the matter were present and voting, unless such right is limited or restricted by the certificate of incorporation. The Certificate does not limit or restrict such right. If action is taken by less than unanimous written consent, the DGCL requires prompt notice afterwards to non-consenting holders of the action taken.  The Bylaws provide for advance notice and other procedural requirements in connection with Shareholder action by written consent.

Absence of Other Rights.    
The holders of common stock have no preferences or rights of conversion, exchange, pre-emption or other subscription rights. There are no redemption or sinking fund provisions applicable to the Common Stock. Shareholders do not have the right of cumulative voting in the election of directors.

Anti-Takeover Effects of the Certificate Bylaws and of Delaware Law
Various provisions contained in the Certificate, Bylaws and Delaware Law could delay or discourage some transactions involving an actual or potential change in control of the Company and may limit the ability of Shareholders to remove current management or approve transactions that Shareholders may deem to be in their best interests. 

Certificate and Bylaws
Provisions in the Certificate and Bylaws:
		
	•
	authorize the Board to make, alter or repeal the Bylaws;

		
	•
	provide that only the Chairman, the President or the Board may call a special meeting of the Shareholders; and

		
	•
	provide that the directors may fill any vacancies on the Board, including newly created Board seats resulting from an increase in the authorized number of directors.

Delaware Business Combination Statute
The DGCL has a “business combination” statute that is applicable to publicly traded corporations incorporated in Delaware that do not opt out of its provisions in its certificate of incorporation or bylaws. The DGCL provides in Section 203 that an “interested shareholder” (defined as a person who owns fifteen percent (15%) or more of the outstanding voting stock of a corporation or who is an associate or affiliate of the corporation and, within the preceding three-year period, owned fifteen percent (15%) or more of the outstanding voting stock of the corporation), and the affiliates and associates of such person may not engage in specified business combinations with the corporation for a period of three years after the date on which the person became an interested shareholder unless (i) prior to such time the board of directors of the corporation approved either the business combination or the transaction which resulted in the shareholder becoming an interested shareholder, (ii) upon consummation of the  transaction which resulted in the shareholder becoming an interested shareholder, the interested shareholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced excluding 

2

certain shares, and (iii) at or subsequent to the time the business combination is approved by the board of directors and authorized at an annual or special meeting of shareholders (and not by written consent) by the affirmative vote of at least sixty-six and two-thirds percent (66 2/3%) of the outstanding voting stock of the corporation not owned by the interested shareholder. The DGCL defines the term “business combination” to encompass a wide variety of transactions with or caused by an interested shareholder, including mergers, asset sales and transactions in which the interested shareholder receives or could receive a benefit on other than a pro rata basis with all other shareholders of the corporation. 

3exhibit101aamendmenttocr

                                                                   Exhibit 10.1(a)                                                            EXECUTION VERSION                    FIRST AMENDMENT TO CREDIT AGREEMENT         THIS FIRST AMENDMENT (the “Amendment”) to that certain CREDIT AGREEMENT,  dated  as  of  June  21,  2019  (the  “Agreement”),  among  HORACE  MANN  EDUCATORS  CORPORATION,  a  Delaware  corporation  (the  “Borrower”),  the  Lenders  party  thereto  (the  “Lenders”),  and  PNC  BANK,  NATIONAL  ASSOCIATION,  as  Administrative  Agent  (the  “Administrative Agent”) is dated as of November 20, 2019.        WHEREAS, pursuant to the Agreement, the Borrower requested and the Lenders agreed  to  provide a  revolving credit  facility to  the  Borrower  in  an  aggregate principal  amount not  to  exceed $225,000,000 subject to the mutual covenants and agreements contained in the Agreement;        WHEREAS, pursuant to a Purchase Agreement by and among Ellard Family Holdings,  Inc., Brian M. Ellard, the JCE Exempt Trust and the Borrower, dated as of December 10, 2018,  the Borrower ultimately acquired 100% of the equity interests of NTA Life Enterprises, LLC, a  Texas limited liability company (“NTA”);        WHEREAS, the Borrower desires that the Agreement be amended to provide for NTA’s  inclusion as a subsidiary of Borrower engaged in the business of providing life insurance and/or  annuities,  and  related  services  (consistent  with  the  definition  of  a  “Life  Subsidiary”  in  the  Agreement);        WHEREAS, the Borrower desires to amend the definition of “Threshold Amount” in the  Agreement as described herein and to amend the Agreement in certain other respects as set forth  herein; and        WHEREAS,  the  Lenders  and  the  Administrative  Agent  agree  to  provide  for  NTA’s  inclusion  as  a  Life  Subsidiary  under  the  Agreement  and  amend  the  definition  of  “Threshold  Amount.”        NOW, THEREFORE, in consideration of the premises and for other good and valuable  consideration (the receipt and sufficiency of which are hereby acknowledged), the parties hereto  agree as follows:         1.    AMENDMENTS.  Upon satisfaction of the conditions set forth in Section 2, the  Agreement shall be amended as follows:        1.1   The definition of “Threshold Amount” in Section 1.01 shall be deleted in its entirety        and replaced with:           “Threshold Amount” means,  with  respect  to all Insurance Subsidiaries, as           of  any  date  of  determination,  fifteen  percent  (15%)  of   the  net  aggregate           admitted   assets  less separate  account  assets  (as  set forth on  the  financial           statements of the Insurance Subsidiaries most recently provided pursuant to            Section  5.01(c)).        1.2   The reference to “Horace Mann Life Insurance Company” in Section 6.03 shall be        deleted and replaced with the following:  “the Life Subsidiaries (taken as a whole)”. 

 

      1.3   Schedule 3.01 entitled “Jurisdictions” shall be deleted and replaced with Schedule        3.01 attached hereto as Exhibit 1.         1.4   Schedule 3.10 entitled “Subsidiaries” shall be deleted and replaced with Schedule        3.10 attached hereto as Exhibit 2.         1.5   Exhibit B shall be deleted and replaced with Exhibit B attached hereto.          2.    CONDITIONS PRECEDENT.  This Amendment shall become effective when the  Administrative Agent shall have received this Amendment duly executed by the Borrower, the  Administrative Agent and the Required Lenders, and notice thereof shall have been given by the  Administrative Agent to the Borrower and the Lenders.         3.    REPRESENTATIONS  AND  WARRANTIES.   After  giving  effect  to  this  Amendment, the following statements by the Borrower shall be true and correct (and the Borrower,  by its execution of this Amendment, hereby represents and warrants to the Administrative Agent  and each Lender that such statements are true and correct as at such times):         3.1   the representations and warranties set forth in Article III of the Agreement are true  and  correct  in  all  material  respects  as  of  the  date  hereof,  except  to  the  extent  that  such  representations and warranties specifically refer to an earlier date, in which case they shall be true  and correct as of such earlier date;          3.2   no Default has occurred and is continuing;          3.3   the Borrower has the full power to enter into, execute, deliver and carry out this  Amendment and the execution, delivery and performance by the Borrower of this Amendment and  the consummation of the transactions contemplated hereby and thereby are within its corporate  powers, have been duly authorized by all necessary corporate action (including, without limitation,  shareholder approval, if required) and do not contravene or conflict with the Borrower’s articles  of incorporation or bylaws;         3.4   each of the Borrower and its Subsidiaries has received all material governmental  and other consents and approvals (if any shall be required) necessary for the execution, delivery  and performance of this Amendment, and such execution, delivery and performance do not and  will not contravene or conflict with, or create a Lien or right of termination or acceleration under,  any  Requirement  of  Law  or  Contractual  Obligation  binding  upon  the  Borrower  or  such  Subsidiaries; and          3.5   this Amendment has been duly and validly executed and delivered by the Borrower  and constitutes the legal, valid and binding obligation of the Borrower, enforceable against the  Borrower in accordance with its terms, except to the extent that enforceability of this Amendment  may  be  limited  by  bankruptcy,  insolvency,  reorganization,  moratorium  or  other  similar  laws  affecting  the  enforceability  of  creditors’  rights  generally  or  limiting  the  right  of  specific  performance and general concepts of equity.    735379122 19619932                                  First Amendment to Credit Agreement

 

      4.    MISCELLANEOUS.         4.1   Continuing  Effectiveness,  etc.   This  Amendment  shall  be  deemed  to  be  an  amendment to the Agreement, and the Agreement as amended hereby, shall remain in full force  and effect and is hereby ratified, approved and confirmed in each and every respect.  After the  effectiveness of this Amendment in accordance with its terms, all references to the Agreement in  the Loan Documents or in any other document, instrument, agreement or writing shall be deemed  to  refer  to the Agreement  as  amended  hereby.   Each  other  Loan Document  is  hereby ratified,  approved and confirmed in each and every respect.  This Amendment is a Loan Document.         4.2   Headings.   The  various  headings  of  this  Amendment  used  herein  are  for  convenience of reference only, are not part of this Amendment and shall not affect the construction  of, or be taken into consideration in interpreting, this Amendment.         4.3   Execution in Counterparts.  This Amendment may be executed in counterparts (and  by different parties hereto in different counterparts), each of which shall constitute an original, but  all  of  which  when  taken  together  shall  constitute  a  single  contract.   Delivery  of  an  executed  counterpart of a signature page of this Amendment by telecopy or other electronic imaging means  (e.g.  “pdf”  or  “tif”)  shall  be  effective  as  delivery  of  a  manually  executed  counterpart  of  this  Amendment.         4.4   Incorporation of Credit Agreement Provisions.  The provisions of Sections 1.03,  9.03, 9.06, 9.07, 9.09, and 9.10 of the Agreement are incorporated herein by reference as if fully  set forth herein, mutatis mutandis.                        [Remainder of page intentionally left blank]    735379122 19619932                                  First Amendment to Credit Agreement

 

 

 

 

 

 

 

 

 

 

                                      EXHIBIT 1                                     SCHEDULE 3.01    735379122 19619932                                               First Amendment to Credit Agreement

 

                               CERTIFICATES OF AUTHORITY BY STATE AND DATE ISSUED                                                                                                                          STATE           HMIC         TIC      HMP&CIC       HMLIC        ELICA      HMSC       NTALIC      NTALICNY                                                                                                                 Alabama              12-19-66    04-18-73     08-20-03    12-15-58                   X        01-01-81                                                                                                                 Alaska               01-31-64    03-26-73     12-22-87    02-02-62                   X        10-15-99                                                                                                                 Arizona              05-27-59    11-12-74     06-09-80    07-15-59    08-21-57       X        03-10-98                                                                                                                 Arkansas             01-31-64    10-06-77     11-19-75    05-06-50                   X        04-12-91                                                                                                                 California           01-31-64                 03-25-65    08-18-67                   X        05-06-97                                                                                                                 Colorado             06-05-64    09-05-73     11-13-81    11-02-56    12-31-84       X        02-27-98                                                                                                                 Connecticut          06-28-74    11-18-99     11-18-99    11-20-78                   X        06-21-99                                                                                                                 Delaware             06-02-59    03-02-71     09-25-98    12-08-55                   X        06-19-00                                                                                                                 Dist. of Col.        08-20-59    01-30-73     05-01-97    12-03-65                   X        05-01-97                                                                                                                 Florida              09-23-63    08-19-76     04-02-10    07-16-62    08-15-66       X        09-27-79                                                                                                                 Georgia              01-31-64    02-09-78     07-02-07    04-05-61                   X        12-20-74                                                                                                                 Hawaii                                                    08-25-87    02-01-85                08-30-99                                                                                                                 Idaho                12-16-68    04-16-73     05-26-88    05-09-60                   X        06-08-99                                                                                                                 Illinois             01-31-64*  03-09-77*    04-25-75*    08-09-49*   12-31-84*  08-13-73*    12-31-94                                                                                                                 Indiana              05-01-68    12-01-77     01-15-98    05-01-57                   X        07-19-96                                                                                                                 Iowa                 12-29-64    05-04-73     11-26-74    08-01-52                   X        01-14-00                                                                                                                 Kansas               01-31-64    09-13-96     12/21/99    11-12-61                   X        04-13-98                                                                                                                 Kentucky             01-31-64    08-02-64     11-01-99    02-21-69                   X        04-04-97                                                                                                                 Louisiana            12-23-58    11-14-73     09-30-99    05-16-61                   X        01-16-80                                                                                                                 Maine                06-01-70    05-04-88     12-30-98    09-02-60                   X        12-07-01                                                                                                                 Maryland             01-10-68    10-29-91     03-31-98    06-26-56                   X        05-22-98                                                                                                                 Massachusetts        10-25-68    02-12-81                 09-09-68                   X        04-23-14                                                                                                                 Michigan             03-19-59    12-14-77     02-23-99    10-27-59                   X        11-02-05                                                                                                                 Minnesota            02-11-64    06-01-74     08-19-98    10-08-56                   X        12-21-98                                                                                                                 Mississippi          06-01-58    07-19-74     06-01-97     10-  -61                  X        02-01-82                                                                                                                 Missouri             03-01-64    07-19-88     11-25-74    06-27-60                   X        09-10-97                                                                                                                 Montana              01-31-64    06-01-73     02-26-88    01-02-54                   X        03-10-99                                                                                                                 Nebraska             08-30-60    12-15-76     06-24-97    10-29-59    09-28-61       X        01-12-98                                                                                                                 Nevada               02-12-68    06-14-99     06-17-99    05-10-60    02-04-83       X        08-14-97                                                                                                                 New Hampshire        04-09-69    11-15-76     03-19-01    07-13-61                   X        03-28-12      Revised as of 11/05/19                                   Page 1 

 

                                                                                                                     STATE           HMIC         TIC      HMP&CIC       HMLIC        ELICA      HMSC       NTALIC      NTALICNY                                                                                                                 New Jersey           Cancelled                            05/31/19                   X        05-03-06                         05-30-96                                                                                                                 New Mexico           03-01-64    08-15-73     01-03-03    05-21-56                   X        01-02-01                                                                                                                 New York             01-31-64    06-17-02     03-27-00                               X                    10-01-13                                                                                                                 North Carolina       10-18-68    07-01-74     03-05-98    07-10-59                   X        12-31-90                                                                                                                 North Dakota         05-08-62    03-22-73     06-21-88    05-29-62                   X        02-23-99                                                                                                                 Ohio                 02-07-64    12-03-84     12-31-96    12-02-59    10-09-84       X        09-30-97                                                                                                                 Oklahoma             03-01-68    11-25-74     11-07-74    12-07-60    08-02-66       X        09-30-80                                                                                                                 Oregon               07-15-70    09-01-73     11-15-74    11-01-53    06-05-57       X        08-18-97                                                                                                                 Pennsylvania         12-29-63    04-16-81     12-20-99    09-01-49                   X        02-15-96                                                                                                                 Rhode Island         01-23-70    12-13-73     01-12-98    09-05-61               09-10-73     09-09-11                                                                                                                 South Carolina       10-02-58    02-08-74     05-04-82    08-14-61                   X        07-14-38                                                                                                                 South Dakota         05-01-62    01-22-74     09-14-88    08-03-53                   X        10-29-98                                                                                                                 Tennessee            01-31-64    09-07-77     11-19-97    03-28-56                   X        12-21-81                                                                                                                 Texas                01-31-64    12-29-78     05-29-75    07-14-60    06-26-68    09-10-73    09-30-93                                                                                                                 Utah                 03-01-64    06-14-73     04-05-88    11-22-55                   X        12-04-97                                                                                                                 Vermont              10-01-68    08-25-99     08-25-97    04-18-56                   X        05-13-99                                                                                                                 Virginia             02-03-64    03-19-91     03-30-99    04-18-56                   X        01-17-90                                                                                                                 Washington           02-10-64    12-28-73     12-31-98    11-13-58    09-20-57       X        09-24-98                                                                                                                 West Virginia        01-23-64    10-23-89     03-29-99    12-28-60                   X        06-16-98                                                                                                                 Wisconsin            01-31-64    09-14-73     06-27-74    11-22-68                   X        10-28-99                                                                                                                 Wyoming              12-24-58    07-23-87     01-18-88    03-24-53                   X        07-27-99                                                                                                                 Puerto Rico          Cancelled                                                                                12-17-12                                                                                                                 U.S. Virgin Islands                                                                           03-01-12      HMIC:          Horace Mann Insurance Company   TIC:           Teachers Insurance Company   HMP&CIC:       Horace Mann Property & Casualty Insurance Company   HMLIC:         Horace Mann Life Insurance Company   HMSC:          Horace Mann Service Corporation   ELICA:         Educators Life Insurance Company of America   NTALIC:        National Teachers Associates Life Insurance Company   NTALICNY:      NTA Life Insurance Company of New York       Revised as of 11/05/19                                   Page 2 

 

                                      EXHIBIT 2                                     SCHEDULE 3.10    735379122 19619932                                               First Amendment to Credit Agreement

 

                                                                                  Horace Mann Educators Corporation                                                                                           Delaware Corporation                                                                                                  100%                     Educators Life                                                                               Horace Mann  Horace Mann                                             Horace Mann       Horace Mann          Teachers                                               NTA Life           Benefit                      Insurance        Horace Mann                                                                Property &        ABM Service                                           BCG Securities,     Service                                                 Lloyds           Insurance         Insurance                                              Enterprises,      Consultants                     Company of        Investors, Inc.                                                             Casualty         Corporation                                                Inc.  Corporation                                            Management          Company           Company                                                   LLC             Group, Inc.                      America                                                                                     Insurance                                                          Corporation                                              Company                    NAIC: 62790     Illinois                                               Texas           NAIC: 22578       NAIC: 22683                       Illinois         Maryland                                                                 NAIC: 22756                             Texas   Corporation                                             Corporation         Illinois           Illinois                            Delaware         Corporation                         Pennsylvania                      Corporation       Corporation                                                                                                                      Pennsylvania      100%                                                   100%            Corporation        Corporation         Illinois         Corporation                                            Corporation                       100%                                                                                      Corporation                             100%            Corporation                                                                                                                                                                                                       National                                                                                                                                                                 NTA Life                                                NTA Life                     Horace Mann                                                       NTA Life           National                             NTA Life                              Ellard           Teachers  Horace Mann                                             Horace Mann                                                    EE Micronix, Inc                        Business                                               Insurance                    Life Insurance                                                   Marketing, Inc.      Teacher                            Management,                        Enterprises, Inc.  Associates Life    MGA and                                                  Lloyds                                                                                           Services Group,                                          Company of                      Company                                                                          Associates, Inc.                          Inc.                                                 Insurance  Brokerage of                                                                                                                                                      Inc.                                                                                                                                                                                                     Company           New York  Florida, Inc.                                          NAIC: 10996                    NAIC: 64513                                                                                                                                                                                       NAIC: 15320    Florida                                                 Texas                                        Delaware            Texas             Texas                                                NAIC: 87963                       Illinois                                                       Delaware                                                                  Delaware            Texas                               New York   Corporation                                             Corporation                                   Corporation       Corporation        Corporation                                               Texas                      Corporation                                                     Corporation                                                               Corporation        Corporation                          Corporation                                                                                                                                                                                                    Corporation       Horace Mann Educators Corporation is a publicly held company.

 

                                                                    EXHIBIT B                                      [FORM OF]                             COMPLIANCE CERTIFICATE    To:  The Lenders parties to the        Credit Agreement Described Below                For the period ended    ,  20__,  this  Compliance  Certificate  is  furnished  pursuant  to  that  certain  Credit  Agreement,  dated  as  of  June  21,  2019  (as  amended,  modified,  renewed  or  extended  from  time  to  time,  the  “Agreement”),  among  Horace  Mann  Educators  Corporation  (the  “Borrower”),  the  lenders  party  thereto,  and  PNC  Bank,  National  Association, as Administrative Agent.  Unless otherwise defined herein, capitalized terms used in  this Compliance Certificate have the meanings ascribed thereto in the Agreement.   THE UNDERSIGNED HEREBY CERTIFIES THAT:               1.    I am a duly elected Executive Officer of the Borrower;               2.    I have reviewed the terms of the Agreement and I have made, or have caused  to  be  made  under  my  supervision,  a  detailed  review  of  the  transactions  and  conditions  of  the  Borrower  and  its  Subsidiaries  during  the  accounting  period  covered  by  the  attached  financial  statements;               3.    The examinations described in paragraph 2 did not disclose, and I have no  knowledge of, the existence of any condition or event which constitutes a Default or Event of  Default during or at the time of the accounting period covered by the attached financial statements  or as of the date of this Certificate, except as set forth below; and               4.    To the extent that there are any changes from the most recently delivered  Schedule 3.10, Schedule I attached hereto sets forth a current Schedule 3.10, setting forth each of  the Borrower’s Subsidiaries and indicating which Subsidiaries are Material Insurance Subsidiaries,  accurate as of the date hereof.               5.    Schedule  II  attached  hereto  sets  forth  financial  data  and  computations  calculating each of FHLB Liquidity Debt, FHLB Operating Debt and Securities Lending, all of  which data and computations are true, complete and correct.    735379122 19619932                                  First Amendment to Credit Agreement

 

            6.    Schedule  III  attached  hereto  sets  forth  financial  data  and  computations  evidencing the Borrower’s compliance with certain covenants of the Agreement, all of which data  and computations are true, complete and correct.               Described below are the exceptions, if any, to paragraph 3 by listing, in detail, the  nature of the condition or event, the period during which it has existed and the action which the  Borrower has taken, is taking, or proposes to take with respect to each such condition or event:    735379122 19619932                                  First Amendment to Credit Agreement

 

The foregoing certifications, together with the computations set forth in Schedule II hereto and the  financial statements delivered with this Certificate in support hereof, are made and delivered this  ___ day of ______, ____.                                             HORACE MANN EDUCATORS                                            CORPORATION                                              Name:                                            Title:    735379122 19619932                                  First Amendment to Credit Agreement

 

                   SCHEDULE I TO COMPLIANCE CERTIFICATE                        Updated Schedule 3.10 as of _________, ____    735379122 19619932                                  First Amendment to Credit Agreement

 

                   SCHEDULE II TO COMPLIANCE CERTIFICATE                            Calculation of FHLB Liquidity Debt,                        FHLB Operating Debt and Securities Lending    735379122 19619932                                  First Amendment to Credit Agreement

 

                    SCHEDULE III TO COMPLIANCE CERTIFICATE                            Compliance as of _________, ____ with                       Provisions of Sections 6.01, 6.02, 6.03 and 6.10 of                                    the Agreement    Section 6.01 – Consolidated Debt to Total Capitalization          Required                                                    0.35:1.0          Actual          (a)     Consolidated Debt of the Borrower and its Consolidated $__________                Subsidiaries on date of determination:          (b)     Net Worth on date of determination:                 $__________          (c)     (a) plus (b):                                       $__________          (d)     Ratio of (a) to (c):                                     :1.0    Section 6.02 – Net Worth          Required Minimum Net Worth:                                 $__________          Actual Net Worth: 

 

      Net Worth (excluding the effect of unrealized gain or loss under FASB 115): $__________    Section 6.03 – Minimum Risk-Based Capital (as of the end of any Fiscal Year)         Required:                                                   300%          Actual:          (a)  Life Insurance Subsidiaries (taken as a whole)          (1)     Total Adjusted Capital on date of determination:    $__________          (2)     Company Action Level RBC on date of determination:  $__________          (3)     Ratio of (1) to (2) (expressed as a percentage):    ______%          (b)  The P/C Subsidiaries (taken as a whole)          (1)     Total Adjusted Capital on date of determination:    $__________          (2)     Company Action Level RBC on date of determination:  $__________          (3)     Ratio of (1) to (2) (expressed as a percentage):    ______% 

 

Section 6.10 – Securities Lending         Maximum market value of securities subject to Securities Lending:  $                   1         Actual market value of securities subject to Securities Lending (provided that $__________        the market value of any security subject to Securities Lending shall be        measured as of the time the applicable Securities Lending transaction was        entered into):     1 Maximum Worth to be set at the Threshold Amount less the aggregate amount of FHLB Operating Debt outstanding  at time of reporting.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00305-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00305-of-00352.parquet"}]]