Document:

exv10w29xay

Exhibit 10.29(a)

BONUS METRIC SCHEDULE

For

2009 Restricted Stock Agreement

Between

James E. Hohmann (Employee) & FBL Financial Group, Inc. (Company)

The qualifications for consideration of the amount of Forfeiture Restrictions which shall lapse (if
any) by the Contingent Lapse Date under Paragraph 2(b)(ii) of the Restricted Stock Agreement dated
April 29, 2009 shall be made in accord with the following:

	1.	 	Lapse Conditions. The Forfeiture Restrictions may lapse as to the shares subject to
Paragraph 2(b)(ii) of the Restricted Stock Agreement as follows:

	 	 	 	 	 
	Goal
	 	% Forfeiture Restrictions Lapse
	20% increase in Class A Common Share Price
	 	 	100	%
	10% increase in Class A Common Share Price
	 	 	50	%
	5% increase in Class A Common Share Price
	 	 	0	%

Percentage increases in Class A Common Share Price between 5% and 10%, and between 10% and 20%,
will result in a prorated increase in the percentage of shares as to which Forfeiture
Restrictions lapse. The percentage increase (if any) in Class A Common Share Price shall be
calculated as follows: [Closing Stock Price (End of Term of Employment) + Dividend Per Share
(during Term of Employment)] — Closing Stock Price (Day prior to Start of Term of Employment) ÷
Closing Stock Price (Day prior to Start of Term of Employment). The Closing Stock Price (Day
prior to Start Term of Employment) is agreed to be $5.52.

	2.	 	Additional Considerations. To the extent that the conditions set forth in Paragraph 1 above
are met as to the lapse of any Forfeiture Restrictions, the following additional criteria may
be used in determining the number (if any) of shares to which the Forfeiture Restriction lapse
may apply:

	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	A)	 	Description
	 	Weighting Factor
	 	 	 	 	 	 	 	Rating Restoration of Life Companies
	 	 	60	%

Create a plan designed to restore AM Best ratings to Farm Bureau Life Insurance Company and
EquiTrust Life Insurance Company to A (Excellent) by ***.

For purposes of measurement during the Term of Employment, achievement of any one of the items
from Class I; or any two of the items from Class II; or any four items from Class III, all as
listed below, may be considered 100% attainment of this goal.

Confidential materials omitted and filed separately with the Securities and Exchange Commission. Asterisks

denote such omission.

Bonus Metric Schedule — Page 1

 

 

Class I:

	 	•	 	Upgrade of Farm Bureau Life (FBL) by AM Best
	 
	 	•	 	Removal of negative outlook by AM Best from EquiTrust Life (ET)
	 
	 	Note: Any downgrade of either company or rating or outlook would erase any upgrade of the other
company as it pertains to this Schedule.
	 
	 	Class II: 
	 
	 	•	 	Maintain or improve RBC ratio of FBL, while increasing ET RBC ratio by 15 points (both
measured from levels as of March 31, 2009).
	 
	 	•	 	Reduction in the portfolio’s March 31, 2009 unrealized loss position by $500 million,
without realizing losses or other than temporary impairments through attainment of goal,
calculated prior to accounting offsets.
	 
	 	•	 	Reduction in the dollar amount of debt at holding company by half (change measured from
level as of March 31, 2009), without dilution to current Class A shareholders.
	 
	 	•	 	Increase ET ROE by 3 points from 2008 level of 1.6% to 4.6%. ROE shall be calculated
using operating income, with securities amortized at cost.
	 
	 	Class III: 
	 
	 	•	 	Develop and implement new annuity product portfolio at ET with ***% or greater unlevered
IRR’s at ***% RBC and ***. Product approval required from states from which half of ET’s
2008 annuity premium was received.
	 
	 	•	 	Identify and execute new business arrangement with a strategic partner (reinsurer) who
can give us credibility that index and fixed annuity products and associated product
options are properly priced from an ROE perspective as well as increase new business
capacity to support growth.
	 
	 	•	 	Execute economically attractive (risk reducing or capital/return enhancing) in-force
reinsurance transaction resulting in *** increase in available capital.
	 
	 	•	 	Create internal standards and appropriate models so Duration can be used as an effective
management tool to mitigate interest rate exposure (standards should include a dynamic
shock lapse model).
	 
	 	•	 	Asset Repositioning- Reduce “BBB” and lower rated security exposure to below 25% of
total holdings, without realization of material impairments or loss of material income
potential.
	 
	 	•	 	Asset Repositioning — Reduce *** of current holdings, without realization of material
impairments or loss of material income potential.
	 
	 	•	 	Demonstrate to external constituents (rating agencies, investors, etc.) that tail risks
(convexity, lapse, duration, etc.) are being managed by retooling the ALM process to be
consistent with best practices.

	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	B)
	Description
	
	 	Weighting Factor
	 	 	 	 	 	 	 	Strategic Review of FBL Enterprise
	 	 	30%

Development of a comprehensive and sustainable business plan for enterprise including but not
limited to the following:

Confidential materials omitted and filed separately with the Securities and Exchange Commission. Asterisks

denote such omission.

Bonus Metric Schedule — Page 2

 

 

	 	•	 	EquiTrust

	 	o	 	Business Plan that includes:

	 	§ 	 	 Stabilization
	 
	 	§ 	 	 Short, intermediate, long-term metrics/projections/plans
	 
	 	§ 	 	 Product array that address:

	 	1.	 	Profitability
	 
	 	2.	 	Capital constraints
	 
	 	3.	 	Distribution risk management

	 	o	 	Management Review and Plan that includes:

	 	§ 	 	 Identifying appropriate management for enterprise/including appropriate
personnel changes
	 
	 	§ 	 	 Creating and implementing appropriate product review process
	 
	 	§ 	 	 Creating and implementing appropriate pricing review process

	 	•	 	Strategic Enterprise Review

	 	o	 	Assist the Board in outlining a strategic review of the business
enterprise, including:

	 	§  	 	EquiTrust’s future role in the enterprise
	 
	 	§ 	 	 The opportunities and challenges of the Farm Bureau market and the
appropriate enterprise relationship with Farm Bureau Mutual Insurance
Company
	 
	 	§ 	 	 How to improve the competitive position and profitability of the
enterprise — a strategic review of the potential of the enterprise would
include:

	 	1.	 	The potential to improve efficiency and
lower costs
	 
	 	2.	 	Obtainable target ROE’s

	 
	 	3.	 	
Overall product reviews

	 
	 	4.	 	
Overall business segment reviews
	 
	 	5.	 	Review of ratings and capital levels
necessary for the enterprise
	 
	 	6.	 	Review of the enterprise’s risk
management policies and procedures

	 	•	 	Delivery of a documented business plan including the above areas may be considered 100%
attainment of this goal.

	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	C)	 	Description
	 	Weighting Factor
	 	 	 	 	 	 	 	Executive Management Team Structure
	 	 	10	%

Objective is to secure a management team structure best able to deliver the results necessary
for the enterprise, staffed with individuals that contain the appropriate skill sets. For
purposes of measurement during the Term of Employment, achievement of the following may be
considered 100% attainment of this goal:

	 	•	 	Identify and fill any “missing positions” (i.e Chief Actuary).
	 
	 	•	 	Deliver stronger performance management as evidenced by a flatter performance rating
distribution ***.

Confidential materials omitted and filed separately with the Securities and Exchange Commission. Asterisks

denote such omission.

Bonus Metric Schedule — Page 3

 

 

	 	•	 	Codify a succession planning framework that begins with organizational design and
capabilities and extends out to individuals. This will involve some back and forth with
the compensation committee and may extend beyond year end, but a discussion framework
should be delivered.

	3.	 	Controlling Agreement. The definition and usage of terms contained in the 2009 Restricted
Stock Agreement dated April 29, 2009, executed by Employee and Company to which this Schedule
pertains, shall control as to the definition and usage of terms used herein.

IN WITNESS WHEREOF, the individuals executing below certify adoption of this Schedule as of the
29th day of June 2009.

	 	 	 	 	 
	 	 	 
	 	/s/ Jerry L. Chicoine
 	 
	 	Jerry L. Chicoine, Lead Director 	 
	 	 	 
	 	/s/ John E. Walker
 	 
	 	John E. Walker, Chairman of the 	 
	 	Management Development & Compensation Committee 	 
	 

The undersigned acknowledges receipt of an original of this Schedule.

	 	 	 	 	 
	 	 	 
	 	/s/ James E. Hohmann
 	 
	 	James E. Hohmann 	 
	 	 	 
	 

Confidential materials omitted and filed separately with the Securities and Exchange Commission. Asterisks

denote such omission.

Bonus Metric Schedule — Page 4exv10w8

Exhibit 10.8

Execution Version

AMENDMENT NO. 10

TO RECEIVABLES PURCHASE AGREEMENT

          THIS AMENDMENT NO. 10 TO RECEIVABLES PURCHASE AGREEMENT, dated as of October 15, 2009 (this
“Amendment”), is by and among Ralcorp Holdings, Inc., a Missouri corporation, as Master
Servicer (the “Master Servicer”), Ralcorp Receivables Corporation, a Nevada corporation
(“Seller”, and together with the Master Servicer, collectively, the “Seller
Parties”), Falcon Asset Securitization Company LLC, a Delaware limited liability company
formerly known as Falcon Asset Securitization Corporation (together with its successors and
assigns, “Conduit”), and JPMorgan Chase Bank, N.A. (successor by merger to Bank One, NA
(Main Office Chicago)), as a Financial Institution (“Financial Institution”, and together
with Conduit, collectively, the “Purchasers”) and as Agent under the Existing Agreement (as
defined below) (in such capacity, the “Agent”), and pertains to that certain Receivables
Purchase Agreement dated as of September 25, 2001 by and among the parties hereto, as heretofore
amended (the “Existing Agreement”). Unless defined elsewhere herein, capitalized terms used
in this Amendment shall have the meanings assigned to such terms in the Existing Agreement.

PRELIMINARY STATEMENT

          The parties wish to amend the Existing Agreement as hereinafter set forth.

          NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained,
and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

     SECTION 1. Amendments. Subject to the satisfaction of the condition precedents set
forth in Section 3 hereof the Existing Agreement is hereby amended as follows:

     (a) Each of the following definitions appearing on Exhibit I to the Existing Agreement is
amended and restated in its entirety to read, respectively, as follows:

          “Base Rate” means a rate per annum equal to the highest of (i) the prime rate of interest
announced from time to time by JPMorgan or its parent from time to time (which is not necessarily
the lowest rate charged to any customer), (ii) the Federal Funds Effective Rate plus 0.50% and
(iii) the rate referenced in clause (i) of definition of LIBO Rate plus 1.00%.

          “Collection Account Agreement” means an agreement substantially in the form of Exhibit VI (or
such other form agreed to by the Agent in its reasonable discretion) among a Collection Bank, the
Agent, Seller and the Master Servicer or a Permitted Sub-Servicer.

          “Default Fee” means with respect to any amount due and payable by Seller in respect of any
Aggregate Unpaids, interest on such Aggregate Unpaids at a rate per annum equal to 4.25% above the
Base Rate.

          “LIBO Rate” means the rate per annum equal to the sum of (i) (a) the offered rate for deposits
in U.S. dollars of amounts equal or comparable to the principal amount of the related

 

 

Liquidity
Funding offered for a term comparable to such Interest Period, which rates appear on a Bloomberg
L.P. terminal, displayed under the address “US0001M <Index> Q <Go>” effective as of
11:00 a.m. (London time) two Business Days prior to the first day of such Tranche Period, and
having a maturity equal to such Tranche Period, provided that, (x) if such Bloomberg L.P.
address is not available to the Agent for any reason, the applicable LIBO Rate for the relevant
Tranche Period shall instead be the applicable British Bankers’ Association Interest Settlement
Rate for deposits in U.S. dollars as reported by any other generally recognized financial
information service as of 11:00 a.m. (London time) two Business Days prior to the first day of such
Tranche Period, and having a maturity equal to such Tranche Period, and (y) if no such British
Bankers’ Association Interest Settlement Rate is available to the Agent, the applicable LIBO Rate
for the relevant Tranche Period shall instead be the rate determined by the Agent to be the rate at
which JPMorgan offers to place deposits in U.S. dollars with first-class banks in the London
interbank market at approximately 11:00 a.m. (London time) two Business Days prior to the first day
of such Tranche Period, in the approximate amount to be funded at the LIBO Rate and having a
maturity equal to such Tranche Period, divided by (b) one minus the maximum aggregate reserve
requirement (including all basic, supplemental, marginal or other reserves) which is imposed
against the Agent in respect of Eurocurrency liabilities, as defined in Regulation D of the Board
of Governors of the Federal Reserve System as in effect from time to time (expressed as a decimal),
applicable to such Tranche Period plus (ii) 3.25% per annum. The LIBO Rate shall be rounded, if
necessary, to the next higher 1/16 of 1%.

          “Liquidity Termination Date” means October 14, 2010.

     (b) Clause (iii)(a) of the definition of “Net Receivables Balance” appearing on Exhibit I to
the Existing Agreement is amended by deleting the reference to “1.5” therein and by inserting a
reference to “2.75” in the place thereof.

     (c) The following definition is hereby inserted in the appropriate alphabetical order in
Exhibit I of the Existing Agreement:

          “Independent Director” shall mean a member of the Board of Directors of Seller who (i) shall
not have been at the time of such Person’s appointment or at any time during the preceding five
years, and shall not be as long as such Person is a director of the Seller, (A) a director,
officer, employee, partner, shareholder, member, manager or Affiliate of any of the following
Persons (collectively, the “Independent Parties”): any Originator, or any of their respective
Subsidiaries or Affiliates, (B) a supplier to any of the Independent Parties, (C) a Person
controlling or under common control with any partner, shareholder, member, manager, Affiliate or
supplier of any of the Independent Parties, or (D) a member of the immediate family of any
director, officer, employee, partner, shareholder, member, manager, Affiliate or supplier of any of
the Independent Parties; (ii) has prior experience as an independent director for a corporation or
limited liability company whose charter documents required the unanimous consent of all independent
directors thereof before such corporation or limited liability company could consent to the
institution of bankruptcy or insolvency proceedings against it or could file a petition seeking
relief under any applicable federal or state law relating to bankruptcy and (iii) has at least
three years of employment experience with one or more entities that provide, in the
ordinary course of their respective businesses, advisory, management or placement services to
issuers of securitization or structured finance instruments, agreements or securities.

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     (d) Section 7.1(b) of the Existing Agreement is amended to insert the following as new clause
(iv) immediately after clause (iii) thereof:

     (iv) Appointment of Independent Director. The decision to appoint a
new director of the Seller as the “Independent Director” for purposes of this
Agreement, such notice to be issued not less than ten (10) days prior to the
effective date of such appointment and to certify that the designated Person
satisfies the criteria set forth in the definition herein of “Independent Director.”

     (e) Clause (M) of Section 7.1(i) of the Existing Agreement is amended and restated in its
entirety to read as follows:

               (M) maintain its corporate charter in conformity with this Agreement, such that (1) it does
not amend, restate, supplement or otherwise modify its Certificate of Incorporation or By-Laws in
any respect that would impair its ability to comply with the terms or provisions of any of the
Transaction Documents, including, without limitation, Section 7.1(i) of this Agreement; and
(2) its corporate charter, from and after December 31, 2009 at all times that this Agreement is in
effect, (x) contains a definition of “Independent Director” identical to the definition of such
term contained herein and (y) provides for not less than ten (10) days’ prior written notice to the
secured creditors of the Seller of the replacement or appointment of any director that is to serve
as an Independent Director for purposes of this Agreement and the condition precedent to giving
effect to such replacement or appointment that the Seller certify that the designated Person
satisfied the criteria set forth in the definition herein of “Independent Director” and such
creditors’ written acknowledgement that in their reasonable judgment the designated Person
satisfies the criteria set forth in the definition herein of “Independent Director;”

     (f) Section 7.1(j) of the Existing Agreement is amended to insert the phrase “from and after
December 31, 2009 (or such later date as may be agreed to in writing by the Agent if the Seller has
used and is continuing to use commercially reasonable efforts to cause each Lock-Box and Collection
Account to be subject to a Collection Account Agreement),” immediately following the words “at all
times” in clause (2) of the first sentence thereof.

     (g) The second sentence of Section 8.2(b) of the Existing Agreement is amended and restated in
its entirety to read as follows: “The Master Servicer shall cause each Lock-Box and Collection
Account to be subject at all times from and after December 31, 2009 (or such later date as may be
agreed to in writing by the Agent if the Seller has used and is continuing to use commercially
reasonable efforts to cause each Lock-Box and Collection Account to be subject to a Collection
Account Agreement) to a Collection Account Agreement that is in full force and effect”.

     (h) Section 9.1 of the Existing Agreement is amended to insert the following as new clause (l)
immediately after clause (k) thereof:

     (l) Any Person shall be appointed as an Independent Director of the Seller without
prior notice thereof having been given to the Agent in accordance with Section
7.1(b)(iv) of this Agreement or without the written acknowledgement by the Agent that

3

 

such Person conforms, to the satisfaction of the Agent, with the criteria set forth in the
definition herein of “Independent Director.”

     SECTION 2. Representations. In order to induce the Agent and the Purchasers to agree
to this Amendment, each Seller Party hereby makes as of the date hereof each of the representations
and warranties contained in Section 5.1 of the Existing Agreement and represents and warrants to
the Agent and each Purchaser that as of the date hereof, before and after giving effect to this
Amendment, no event has occurred and is continuing that would constitute an Amortization Event or a
Potential Amortization Event.

     SECTION 3. Conditions Precedent. This Amendment shall become effective as of the date
hereof, upon satisfaction of all of the following conditions precedent:

     (a) The Agent shall have received counterparts of this Amendment, duly executed by each of the
other parties hereto.

     (b) The receipt by the Agent for the account of the Financial Institution of an amendment fee,
in immediately available funds, equal to 0.10% of the Commitment of the Financial Institution.

     SECTION 4. Miscellaneous.

     (a) CHOICE OF LAW. THIS AMENDMENT SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH
THE INTERNAL LAWS (AND NOT THE LAW OF CONFLICTS) OF THE STATE OF ILLINOIS.

     (b) Binding Effect. This Amendment shall be binding upon and inure to the benefit of
the parties and their respective successors and permitted assigns (including any trustee in
bankruptcy and the Agent).

     (c) Counterparts. This Amendment may be executed in any number of counterparts and by
different parties hereto in separate counterparts, each of which when so executed shall be deemed
to be an original and all of which, taken together, shall constitute one and the same agreement.
Delivery of an executed counterpart of a signature page to this Amendment by facsimile or other
electronic format shall be effective as delivery of a manually executed counterpart of this
Amendment.

     (d) Severability. Any provisions of this Amendment which are prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining provisions hereof, and any
such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

[Remainder of Page Intentionally Left Blank]

4

 

          IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective
officers thereunto duly authorized, as of the date first above written.

	 	 	 	 	 
	 	RALCORP RECEIVABLES CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	RALCORP HOLDINGS, INC., as Master 
Servicer

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Page to

Amendment No. 10 to Receivables Purchase Agreement

(Ralcorp Receivables Corporation)

 

 

	 	 	 	 	 
	 	FALCON ASSET SECURITIZATION CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	JPMORGAN CHASE BANK, N.A., as a 
Financial Institution
and as Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Page to

Amendment No. 10 to Receivables Purchase Agreement

(Ralcorp Receivables Corporation)

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