Document:

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                                                                  EXECUTION COPY

                                  $185,000,000

                                AMERUS GROUP CO.

              OPTIONALLY CONVERTIBLE EQUITY-LINKED ACCRETING NOTES
                          (OCEANs(SM)) DUE MARCH 6, 2032

                          REGISTRATION RIGHTS AGREEMENT

                                                 March 6, 2002

Credit Suisse First Boston Corporation
Eleven Madison Avenue
New York, New York 10010-3629

Ladies and Gentlemen:

               AmerUs Group Co., an Iowa corporation (the "COMPANY"), proposes
to issue and sell to Credit Suisse First Boston Corporation (the "PURCHASER"),
upon the terms set forth in a purchase agreement dated February 28, 2002 (the
"PURCHASE AGREEMENT"), $185,000,000 aggregate original principal amount of its
Optionally Convertible Equity-linked Accreting Notes (OCEANs(SM)) due March 6,
2032 (the "OCEANs"). The OCEANs will be issued pursuant to an indenture, dated
as of March 6, 2002 (the "INDENTURE"), between the Company and BNY Midwest Trust
Company, an Illinois trust company, as trustee (the "TRUSTEE"). Under the terms
of the Indenture, the OCEANs are convertible in certain circumstances specified
therein, in whole or in part, into shares of the Company's common stock, no par
value (such shares of common stock into which the OCEANs are convertible being
the "UNDERLYING SHARES", and together with the OCEANs, the "SECURITIES"). As an
inducement to the Purchaser to enter into the Purchase Agreement, the Company
agrees with the Purchaser, for the benefit of the holders of the OCEANs
(including, without limitation, the Purchaser) and the Underlying Shares
(collectively the "HOLDERS") from time to time until such time as the Securities
have been sold pursuant to a Registration Statement (as defined below), as
follows:

               1. Shelf Registration. (a) The Company shall, at its cost,
prepare and, as promptly as practicable (but in no event more than 90 days after
the First Closing Date (as defined in the Purchase Agreement), such 90th day
being a "FILING DEADLINE"), file with the Securities and Exchange Commission
(the "COMMISSION") and thereafter use its commercially reasonable efforts to
cause to be declared effective as promptly as practicable (but in no event later
than 210 days after the First Closing Date (such 210th day being an
"EFFECTIVENESS DEADLINE")) a registration statement (the "REGISTRATION
STATEMENT") on an appropriate form under the Securities Act of 1933, as amended
(the "SECURITIES ACT"), relating to the offer and sale of the Transfer
Restricted Securities (as defined herein) by the Holders thereof from time to
time in accordance with the methods of distribution set forth in the
Registration Statement and Rule 415 under the Securities

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Act (hereinafter, the "SHELF REGISTRATION"); provided, however, that no Holder
(other than the Purchaser) shall be entitled to have the Securities held by it
covered by such Registration Statement unless such Holder agrees in writing to
be bound by all the provisions of this Agreement applicable to such Holder.
"TRANSFER RESTRICTED SECURITIES" means each Security until the earlier of (i)
the date on which such Security has been effectively registered under the
Securities Act and disposed of pursuant to the Registration Statement and (ii)
the date on which such Security is distributed to the public pursuant to Rule
144 under the Securities Act or is saleable pursuant to Rule 144(k) under the
Securities Act.

        (b) Except as provided herein, the Company shall use its commercially
reasonable efforts to keep the Registration Statement continuously effective in
order to permit the prospectus included therein, as the same may be amended or
supplemented from time to time (the "PROSPECTUS"), to be lawfully delivered by
the Holders of the relevant Securities, for a period of two years from the date
of the initial offering of such Securities or such shorter period that will
terminate when all the Securities covered by the Registration Statement (i) have
been sold pursuant thereto or (ii) are no longer restricted securities (as
defined in Rule 144(k) under the Securities Act, or any successor rule thereof),
assuming for this purpose that the Holders thereof are not affiliates of the
Company (in any such case, such period being called the "SHELF REGISTRATION
PERIOD"). The Company shall be deemed not to have used its commercially
reasonable efforts to keep the Registration Statement effective during the Shelf
Registration Period if it voluntarily takes any action that would result in
Holders of Securities covered thereby not being able to offer and sell such
Securities during the Shelf Registration Period, unless such action is (i)
required by applicable law or (ii) taken by the Company in good faith and
contemplated by Section 2(b)(vi) hereof and the Company thereafter complies with
the requirements of Section 2(h).

        (c) Notwithstanding any other provisions of this Agreement to the
contrary, the Company shall cause the Registration Statement and the Prospectus
and any amendment or supplement thereto, as of the effective date of the
Registration Statement, amendment or supplement, (i) to comply in all material
respects with the applicable requirements of the Securities Act and the rules
and regulations of the Commission and (ii) not to contain any untrue statement
of a material fact or omit to state a material fact required to be stated
therein or necessary in order to make the statements therein, in the light of
the circumstances under which they were made, not misleading.

               2. Registration Procedures. In connection with the Shelf
Registration contemplated by Section 1 hereof the following provisions shall
apply:

        (a) The Company shall (i) furnish to the Purchaser, prior to the filing
thereof with the Commission, a copy of the Registration Statement and each
amendment thereof and each supplement, if any, to the Prospectus (other than
supplements, if any, to the Prospectus solely to add or update information
regarding selling securityholders in the "Selling Securityholders" table therein
(unless such information relates to the Purchaser or its affiliates)) and, in
the event that the Purchaser (with respect to any portion of an unsold allotment
from the original offering of the OCEANs) is participating in the Registration
Statement, the Company shall use its commercially reasonable efforts to reflect
in each such document, when so filed with the Commission, such

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comments as the Purchaser reasonably may propose; and (ii) subject to paragraph
(l) of this Section 2, (A) include the names of the Holders who propose to sell
Securities pursuant to the Registration Statement, and who have returned to the
Company a properly completed and signed Selling Securityholder Notice and
Questionnaire (a "QUESTIONNAIRE") substantially in the form of Annex A to the
Company's Offering Circular dated February 28, 2002 relating to the OCEANs, and
any additional information, consents or agreements reasonably requested by the
Company (each a "NOTICE HOLDER"), prior to the effectiveness of the Registration
Statement, as selling securityholders and (B) if it shall have received any
Questionnaire after the effectiveness of the Registration Statement, promptly
but in any event within five business days of such receipt file any necessary
post-effective amendments or supplements to the Registration Statement in order
to name the Notice Holder delivering such Questionnaire as a selling
securityholder and permit such Notice Holder to sell Securities pursuant to the
Registration Statement.

        (b) The Company shall give written notice to the Purchaser and the
Notice Holders (which notice pursuant to clauses (iii)-(vi) hereof shall be
accompanied by a Deferral Notice (as defined below):

                       (i) when the Registration Statement or any amendment
               thereto has been filed with the Commission;

                       (ii) when the Registration Statement or any
               post-effective amendment thereto has become effective;

                       (iii) of any request by the Commission for amendments or
               supplements to the Registration Statement or the Prospectus or
               for additional information;

                       (iv) of the issuance by the Commission of any stop order
               suspending the effectiveness of the Registration Statement or the
               initiation of any proceedings for that purpose;

                       (v) of the receipt by the Company or its legal counsel of
               any notification with respect to the suspension of the
               qualification of the Securities for sale in any jurisdiction or
               the initiation or threatening of any proceeding for such purpose;
               and

                       (vi) if the Company determines in good faith that it is
               in its best interest to suspend use of the Registration Statement
               or Prospectus because of the occurrence or existence of any
               pending corporate development with respect to the Company or the
               happening of any event that, in the good faith judgment of the
               Company, requires the Company to make changes in the Registration
               Statement or the Prospectus in order that the Registration
               Statement or the Prospectus does not contain an untrue statement
               of a material fact nor omit to state a material fact required to
               be stated therein or necessary to make the statements therein (in
               the case of the Prospectus, in the light of the circumstances
               under which they were made) not misleading.

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If the Company suspends the use of the Prospectus pursuant to any of clause
(iii)-(vi) above, it shall give notice to the Notice Holders that the
availability of the Shelf Registration Statement is suspended (a "DEFERRAL
NOTICE") and each Holder agrees not to sell any Transfer Restricted Securities
pursuant to the Registration Statement upon receipt of any Deferral Notice until
such Holder's receipt of copies of the supplemented or amended Prospectus
provided for in Section 2(h), or until it is advised in writing by the Company
that the Prospectus may be used, and has received copies of any additional or
supplemental filings that are incorporated or deemed incorporated by reference
in such Prospectus. The Company will use its commercially reasonable efforts to
ensure that the use of the Prospectus may be resumed (x) in the case of clauses
(iii), (iv) and (v) above, as promptly as is reasonably practicable and (y) in
the case of clause (vi) above, as soon as, in the good faith judgment of the
Company, public disclosure of such development or event would not be prejudicial
to or contrary to the interests of the Company or is not required.
Notwithstanding anything to the contrary in the immediately preceding sentence,
the periods during which the availability of the Registration Statement and the
Prospectus is suspended (each a "DEFERRAL PERIOD") shall not exceed 45 days in
the aggregate in any 90-day period and shall not exceed 90 days in the aggregate
in any calendar year.

        (c) The Company shall make every commercially reasonable effort to
obtain the withdrawal at the earliest possible time of any order suspending the
effectiveness of the Registration Statement.

        (d) The Company shall furnish to each Notice Holder, without charge, at
least one copy of the Registration Statement and any post-effective amendment
thereto, including financial statements and schedules, and, if the Notice Holder
so requests, all exhibits thereto (including those, if any, incorporated by
reference).

        (e) The Company shall, during the Shelf Registration Period, deliver to
each Notice Holder, without charge, as many copies of the Prospectus (including
each preliminary Prospectus) included in the Registration Statement and any
amendment or supplement thereto as such person may reasonably request. The
Company consents, subject to the provisions of this Agreement, to the use of the
Prospectus by each of the selling Notice Holders in connection with the offering
and sale of the Securities covered by the Prospectus.

        (f) Prior to any public offering of the Securities pursuant to any
Registration Statement, the Company shall register or qualify or cooperate with
the Notice Holders and their respective counsel in connection with the
registration or qualification of the Securities for offer and sale under the
securities or "blue sky" laws of such states of the United States as any Notice
Holder reasonably requests in writing and do any and all other acts or things
necessary or advisable to enable the offer and sale in such jurisdictions of the
Securities covered by such Registration Statement; provided, however, that the
Company shall not be required to (i) qualify generally to do business in any
jurisdiction where it is not then so qualified or (ii) take any action which
would subject it to general service of process or to taxation in any
jurisdiction where it is not then so subject.

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        (g) The Company shall, to the extent contemplated by the Indenture,
cooperate with the Notice Holders to facilitate the timely preparation and
delivery of a certificate or certificates representing the Securities to be sold
pursuant to any Registration Statement free of any restrictive legends and in
such denominations and registered in such names as the Notice Holders may
request a reasonable period of time prior to sales of the Securities pursuant to
such Registration Statement.

        (h) Upon the occurrence of any event contemplated by clauses (iii)
through (v), or a determination by the Company that it is no longer necessary to
suspend the use of the Prospectus pursuant to clause (vi), of Section 2(b) above
during the Shelf Registration Period, the Company shall, if necessary, promptly
prepare and file a post-effective amendment to the Registration Statement or a
supplement to the related Prospectus and any other required document so that, as
thereafter delivered to Holders or purchasers of Securities, the Prospectus will
not contain an untrue statement of a material fact or omit to state any material
fact required to be stated therein or necessary to make the statements therein,
in the light of the circumstances under which they were made, not misleading.

        (i) Not later than the effective date of the Registration Statement, the
Company will provide CUSIP numbers for the OCEANs and the Underlying Shares
registered under the Registration Statement and provide the Trustee with a
printed certificate or printed certificates for the OCEANs in a form eligible
for deposit with The Depository Trust Company.

        (j) The Company will comply with all rules and regulations of the
Commission to the extent and so long as they are applicable to the Shelf
Registration and will make generally available to its securityholders (or
otherwise provide in accordance with Section 11(a) of the Securities Act) an
earnings statement satisfying the provisions of Section 11(a) of the Securities
Act, no later than 45 days after the end of a 12-month period (or 90 days, if
such period is a fiscal year) beginning with the first month of the Company's
first fiscal quarter commencing after the effective date of the Registration
Statement, which statement shall cover such 12-month period.

        (k) The Company shall cause the Indenture to be qualified under the
Trust Indenture Act of 1939, as amended (the "TRUST INDENTURE ACT"), in a timely
manner and containing such changes, if any, as shall be necessary for such
qualification. In the event that such qualification would require the
appointment of a new trustee under the Indenture, the Company shall appoint a
new trustee thereunder pursuant to the applicable provisions of the Indenture.

        (l) The Company may require each Holder of Securities to be sold
pursuant to the Registration Statement to furnish to the Company such
information regarding the Holder and the distribution of the Securities as shall
be required to complete the Questionnaires or as shall be required by the
Commission in connection with the Registration Statement, the Prospectus or any
amendment or supplement thereto, and the Company may exclude from such
registration the Securities of any Holder that unreasonably fails to furnish
such information within a reasonable time after receiving such request for so
long as such failure continues.

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        (m) The Company shall enter into such customary agreements (including,
if requested, an underwriting agreement in customary form reasonably acceptable
to the Company) and take all such other action, if any, as any Holder shall
reasonably request in order to facilitate the disposition of the Securities
pursuant to any Shelf Registration; provided, however, that the Company shall
not be required to facilitate more than one underwritten offering.

        (n) The Company shall (i) make reasonably available for inspection by
the Notice Holders, any underwriter participating in any disposition pursuant to
the Registration Statement (an "UNDERWRITER") and any attorney, accountant or
other agent retained by the Notice Holders or any Underwriter all relevant
financial and other records, pertinent corporate documents and properties of the
Company and (ii) cause the Company's officers, directors, employees, accountants
and auditors to supply all relevant information reasonably requested by the
Notice Holders or any Underwriter, attorney, accountant or agent in connection
with the Registration Statement, in each case, as shall be reasonably necessary
to enable such persons to conduct a reasonable investigation within the meaning
of Section 11 of the Securities Act; provided, however, that the foregoing
inspection and information gathering shall be coordinated on behalf of such
Underwriters and on behalf of all of the other parties hereto by one counsel
designated by the Managing Underwriters; provided further, however, that the
Company shall not be required to facilitate more than one underwritten offering.

        (o) The Company, if requested by any Notice Holder, shall use all
commercially reasonable efforts to cause (i) its counsel(s) to deliver an
opinion and updates thereof relating to the Securities in customary form
addressed to the Managing Underwriters (as defined herein), if any, thereof and
dated, in the case of the initial opinion, the effective date of such
Registration Statement (it being agreed that the matters to be covered by such
opinion shall include, without limitation, the due incorporation and good
standing of the Company and its subsidiaries; the qualification of the Company
to transact business as a foreign corporation; the due authorization, execution
and delivery of the relevant agreement of the type referred to in Section 2(m)
hereof; the due authorization, execution, authentication and issuance, and the
validity and enforceability, of the applicable Securities; material legal or
governmental proceedings involving the Company and its subsidiaries;
governmental approvals required to be obtained in connection with the
Registration Statement, the offering and sale of the applicable Securities, or
any agreement of the type referred to in Section 2(m) hereof; the compliance as
to form of such Registration Statement and any documents incorporated by
reference therein and of the Indenture with the requirements of the Securities
Act and the Trust Indenture Act, respectively; and, as of the date of the
opinion and as of the effective date of the Registration Statement or most
recent post-effective amendment thereto, as the case may be, the absence from
such Registration Statement and the Prospectus, as then amended or supplemented,
and from any documents incorporated by reference therein, of an untrue statement
of a material fact or the omission to state therein a material fact required to
be stated therein or necessary to make the statements therein not misleading (in
the case of any such documents, in the light of the circumstances existing at
that time as filed with the Commission under the Exchange Act); (ii) its
authorized officer or officers to execute and deliver all customary documents
and certificates and updates thereof as reasonably requested by the Managing
Underwriters; and (iii) its independent public accountants and, if commercially
reasonable, the independent public accountants with respect to any other entity
for

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which financial information is provided in the Registration Statement to provide
to the selling Holders of the applicable Securities and any Underwriter a
comfort letter in customary form and covering matters of the type customarily
covered in comfort letters in connection with primary underwritten offerings.

        (p) In the event that any broker-dealer registered under the Exchange
Act shall underwrite any Securities or participate as a member of an
underwriting syndicate or selling group or "assist in the distribution" (within
the meaning of the Conduct Rules (the "RULES") of the National Association of
Securities Dealers, Inc. ("NASD")) thereof, whether as a Holder of such
Securities or as an underwriter, a placement or sales agent or a broker or
dealer in respect thereof, or otherwise, the Company will assist such
broker-dealer in complying with the requirements of such Rules, including,
without limitation, by (i) if such Rules, including Rule 2720, shall so require,
engaging a "qualified independent underwriter" (as defined in Rule 2720) to
participate in the preparation of the Registration Statement relating to such
Securities, to exercise usual standards of due diligence in respect thereto and,
if any portion of the offering contemplated by such Registration Statement is an
underwritten offering or is made through a placement or sales agent, to
recommend the yield of such Securities, (ii) indemnifying any such qualified
independent underwriter to the extent of the indemnification of Underwriters
provided in Section 4 hereof and (iii) providing such information to such
broker-dealer as may be required in order for such broker-dealer to comply with
the requirements of the Rules.

        (q) The Company shall use its commercially reasonable efforts to take
all other steps necessary to effect the registration of the Securities covered
by the Registration Statement contemplated hereby.

        3. Registration Expenses. (a) All expenses incident to the Company's
performance of and compliance with this Agreement (excluding, except as
otherwise included below, any underwriting discounts, legal fees of any
Underwriter counsel and roadshow expenses incurred by any Underwriter or Notice
Holder) will be borne by the Company, regardless of whether the Registration
Statement is ever filed or becomes effective, including without limitation:

               (i) all registration and filing fees and expenses;

               (ii) all fees and expenses of compliance with federal securities
        and state "blue sky" or securities laws;

               (iii) all expenses of printing (including printing certificates
        for the Securities to be issued, if any, and printing Prospectuses),
        messenger and delivery services and telephone;

               (iv) all fees and disbursements of counsel for the Company;

               (v) all application and filing fees in connection with listing
        (if any) the Underlying Shares on a national securities exchange; and

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               (vi) all fees and disbursements of independent certified public
        accountants of the Company (including the expenses of any audit and
        comfort letters).

        The Company will bear its internal expenses (including, without
limitation, all salaries and expenses of its officers and employees performing
legal or accounting duties), the expenses of any annual audit and the fees and
expenses of any person, including special experts, retained by the Company.

        (b) In connection with any Registration Statement required by this
Agreement, the Company will reimburse the Purchaser and the Notice Holders who
are selling or reselling Securities pursuant to the "Plan of Distribution"
contained in the Registration Statement for the reasonable fees and
disbursements of not more than one counsel, who shall be Milbank, Tweed, Hadley
& McCloy LLP unless another firm shall be chosen by the Notice Holders of a
majority in accreted principal amount of the Transfer Restricted Securities
covered by such Registration Statement (determined pursuant to Section 8(k)
hereof).

        4. Indemnification. (a) The Company agrees to indemnify and hold
harmless each Holder of the Securities and each person, if any, who controls
such Holder within the meaning of the Securities Act or the Exchange Act (each
Holder and such controlling persons are referred to collectively as the
"INDEMNIFIED PARTIES") from and against any losses, claims, damages or
liabilities, joint or several, or any actions in respect thereof (including, but
not limited to, any losses, claims, damages, liabilities or actions relating to
purchases and sales of the Securities) to which each Indemnified Party may
become subject under the Securities Act, the Exchange Act or otherwise, insofar
as such losses, claims, damages, liabilities or actions arise out of, or are
based upon, any untrue statement or alleged untrue statement of a material fact
contained in the Registration Statement or Prospectus (including any document
incorporated by reference therein) or in any amendment or supplement thereto or
in any preliminary Prospectus relating to the Shelf Registration, or arise out
of, or are based upon, the omission or alleged omission to state therein a
material fact required to be stated therein or necessary to make the statements
therein (in the case of the Prospectus, in the light of the circumstances under
which they were made) not misleading, and shall reimburse, as incurred, the
Indemnified Parties for any legal or other expenses reasonably incurred by them
in connection with investigating or defending any such loss, claim, damage,
liability or action in respect thereof; provided, however, that (i) the Company
shall not be liable in any such case to the extent that such loss, claim, damage
or liability arises out of or is based upon any untrue statement or alleged
untrue statement or omission or alleged omission made in a Registration
Statement or Prospectus or in any amendment or supplement thereto or in any
preliminary Prospectus relating to the Shelf Registration in reliance upon and
in conformity with written information furnished to the Company by or on behalf
of such Holder or any Underwriter specifically for inclusion therein (which
shall include, without limitation, the information provided to the Company by
any such Indemnified Party in the Questionnaire), and (ii) with respect to any
untrue statement or omission or alleged untrue statement or omission made in any
Prospectus relating to the Registration Statement, the indemnity agreement
contained in this subsection (a) shall not inure to the benefit of any Holder
from whom the person asserting any such losses, claims, damages or liabilities
purchased the Securities concerned, to the extent that an amended or
supplemented Prospectus relating to such Securities was required to be

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delivered by such Holder under the Securities Act in connection with such
purchase and any such loss, claim, damage or liability of such Holder results
from the fact that there was not sent or given to such person, at or prior to
the written confirmation of the sale of such Securities to such person, a copy
of the amended or supplemented Prospectus if the Company had previously
furnished copies thereof to such Holder; provided further, however, that this
indemnity agreement will be in addition to any liability which the Company may
otherwise have to such Indemnified Party. The Company shall also indemnify the
Underwriters, their officers and directors and each person who controls such
Underwriters within the meaning of the Securities Act or the Exchange Act to the
same extent as provided above with respect to the indemnification of the
Holders, if requested by such Holders.

        (b) Each Holder of the Securities, severally and not jointly, will
indemnify and hold harmless the Company, its officers and directors and each
person, if any, who controls the Company within the meaning of the Securities
Act or the Exchange Act from and against any losses, claims, damages or
liabilities or any actions in respect thereof, to which the Company or any such
controlling persons may become subject under the Securities Act, the Exchange
Act or otherwise, insofar as such losses, claims, damages, liabilities or
actions arise out of or are based upon any untrue statement or alleged untrue
statement of a material fact contained in the Registration Statement or
Prospectus or in any amendment or supplement thereto or in any preliminary
Prospectus relating to the Shelf Registration, or arise out of or are based upon
the omission or alleged omission to state therein a material fact required to be
stated therein or necessary to make the statements therein (in the case of the
Prospectus, in the light of the circumstances under which they were made) not
misleading, but in each case only to the extent that the untrue statement or
omission or alleged untrue statement or omission was made in reliance upon and
in conformity with written information furnished to the Company by or on behalf
of such Holder or any Underwriter specifically for inclusion therein (which
shall include, without limitation, the information provided to the Company by
any such Indemnified Party in the Questionnaire); and, subject to the limitation
set forth immediately preceding this clause, shall reimburse, as incurred, the
Company for any legal or other expenses reasonably incurred by the Company or
any such controlling person in connection with investigating or defending any
loss, claim, damage, liability or action in respect thereof. This indemnity
agreement will be in addition to any liability which such Holder may otherwise
have to the Company or any of its officers, directors or controlling persons.

        (c) Promptly after receipt by an indemnified party under this Section 4
of notice of the commencement of any action or proceeding (including a
governmental investigation), such indemnified party will, if a claim in respect
thereof is to be made against the indemnifying party under this Section 4,
notify the indemnifying party of the commencement thereof; provided, however,
that the failure to notify an indemnifying party shall not relieve it from any
liability which it may have under this Section 4 except to the extent it has
been materially prejudiced by such failure; provided, further, however, that the
omission so to notify the indemnifying party will not, in any event, relieve the
indemnifying party from any obligations to any indemnified party other than the
indemnification obligation provided in paragraph (a) or (b) above. In case any
such action is brought against any indemnified party, and it notifies the
indemnifying party of the commencement thereof, the indemnifying party will be
entitled to participate therein and, to the

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extent that it may wish, jointly with any other indemnifying party similarly
notified, to assume the defense thereof, with counsel reasonably satisfactory to
such indemnified party (who shall not, except with the consent of the
indemnified party, be counsel to the indemnifying party), and after notice from
the indemnifying party to such indemnified party of its election so to assume
the defense thereof, the indemnifying party will not be liable to such
indemnified party under this Section 4 for any legal or other expenses, other
than reasonable costs of investigation, subsequently incurred by such
indemnified party in connection with the defense thereof. No indemnifying party
shall, without the prior written consent of the indemnified party, effect any
settlement of any pending or threatened action in respect of which any
indemnified party is or could have been a party and indemnity could have been
sought hereunder by such indemnified party unless such settlement includes an
unconditional release of such indemnified party from all liability on any claims
that are the subject matter of such action, and does not include a statement as
to or an admission of fault, culpability or a failure to act by or on behalf of
any indemnified party.

        (d) If the indemnification provided for in this Section 4 is unavailable
or insufficient to hold harmless an indemnified party under subsections (a) or
(b) above, then each indemnifying party shall contribute to the amount paid or
payable by such indemnified party as a result of the losses, claims, damages or
liabilities (or actions in respect thereof) referred to in subsection (a) or (b)
above in such proportion as is appropriate to reflect the relative fault of the
indemnifying party or parties on the one hand and the indemnified party on the
other in connection with the statements or omissions that resulted in such
losses, claims, damages or liabilities (or actions in respect thereof) as well
as any other relevant equitable considerations. The relative fault of the
parties shall be determined by reference to, among other things, whether the
untrue or alleged untrue statement of a material fact or the omission or alleged
omission to state a material fact relates to information supplied by the Company
on the one hand or such Holder or such other indemnified party, as the case may
be, on the other, and the parties' relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission.
The amount paid by an indemnified party as a result of the losses, claims,
damages or liabilities referred to in the first sentence of this subsection (d)
shall be deemed to include any legal or other expenses reasonably incurred by
such indemnified party in connection with investigating or defending any action
or claim which is the subject of this subsection (d). Notwithstanding any other
provision of this Section 4(d), the Holders shall not be required to contribute
any amount in excess of the amount by which the proceeds received by such
Holders from the sale of the Securities pursuant to the Registration Statement
exceeds the amount of damages which such Holders have otherwise been required to
pay by reason of such untrue or alleged untrue statement or omission or alleged
omission. No person guilty of fraudulent misrepresentation (within the meaning
of Section 11(f) of the Securities Act) shall be entitled to contribution from
any person who was not guilty of such fraudulent misrepresentation. For purposes
of this paragraph (d), each person, if any, who controls such indemnified party
within the meaning of the Securities Act or the Exchange Act shall have the same
rights to contribution as such indemnified party and each person, if any, who
controls the Company within the meaning of the Securities Act or the Exchange
Act shall have the same rights to contribution as the Company.

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        (e) The agreements contained in this Section 4 shall survive the sale of
the Securities pursuant to the Registration Statement and shall remain in full
force and effect, regardless of any termination or cancellation of this
Agreement or any investigation made by or on behalf of any indemnified party.

        5. Additional Interest Under Certain Circumstances. (a) Additional
interest (the "ADDITIONAL INTEREST") with respect to the OCEANs and the
Underlying Shares, as the case may be, shall be assessed as follows if any of
the following events occur (each such event in clauses (i) through (iv) below
being herein called a "REGISTRATION DEFAULT"):

        (i)     If the Registration Statement required by this Agreement is not
                filed with the Commission on or prior to the Filing Deadline;

        (ii)    If the Registration Statement has not been declared effective by
                the Commission by the Effectiveness Deadline;

        (iii)   If the Registration Statement has been declared effective by the
                Commission, but such Registration Statement or the Prospectus
                thereafter ceases to be effective or usable in connection with
                resales of Transfer Restricted Securities during the Shelf
                Registration Period and (A) if applicable, the Company does not
                terminate the Deferral Period described in Section 2(b) above by
                the 45th day or the 90th day, as the case may be or (B) in all
                other cases, the Company does not have the Registration
                Statement and related Prospectus effective and usable within
                five business days after it ceased to be effective or usable by
                a post-effective amendment or a report filed pursuant to the
                Exchange Act .

Each of the foregoing will constitute a Registration Default whatever the reason
for any such event and whether it is voluntary or involuntary, or is beyond the
control of the Company or pursuant to operation of law or as a result of any
action or inaction by the Commission.

        Additional Interest shall accrue on the OCEANs or Underlying Shares that
are Transfer Restricted Securities from and including the date on which any such
Registration Default shall occur to but excluding the date on which all such
Registration Defaults have been cured, (A) at a rate of 0.25% per annum for the
first 90-day period immediately following the occurrence of a Registration
Default and (B) at a rate of 0.50% per annum thereafter (the "ADDITIONAL
INTEREST RATE"). Notwithstanding the foregoing, no Additional Interest shall
accrue or be payable as to any OCEANs or Underlying Shares from and after the
earlier of (x) the date such Securities are no longer Transfer Restricted
Securities and (y) the expiration of the Shelf Registration Period.

        (b) A Registration Default referred to in Section 5(a)(iii) hereof shall
be deemed not to have occurred and be continuing in relation to a Registration
Statement or the Prospectus if (i) such Registration Default has occurred solely
as a result of (x) the filing of a post-effective amendment to the Registration
Statement to incorporate annual audited financial information with respect to
the Company or to add NoticeHolders as selling securityholders where such
post-effective amendment is not yet effective and needs to be declared effective
to permit Holders

                                      -11-

<PAGE>
to use the Prospectus or (y) other material events with respect to the Company
that would need to be described in the Registration Statement or the Prospectus
and (ii) in the case of clause (y), the Company is proceeding promptly and in
good faith to amend or supplement the Registration Statement and Prospectus to
describe such events; provided, however, that in any case, if such Registration
Default occurs for a continuous period in excess of 30 days Additional Interest
shall be payable in accordance with the above paragraph from the day such
Registration Default occurs (without regard to operation of this Section 5(b))
until such Registration Default is cured.

        (c) Any amounts of Additional Interest due pursuant to Section 5(a) will
be payable with respect to the OCEANs or the Underlying Shares in cash on the
regular interest payment dates with respect to the OCEANs (or, if no OCEANs
exist, the date upon which interest would have been payable). The amount of
Additional Interest per annum will be determined by multiplying the applicable
Additional Interest Rate by the accreted principal amount of the OCEANs as at
the Interest Payment Date immediately preceding the date of such Registration
Default or, for each Underlying Share, an amount equal to the conversion price
then in effect, as applicable, and further multiplied by a fraction, the
numerator of which is the number of days such Additional Interest Rate was
applicable during such period (determined on the basis of a 360-day year
comprised of twelve 30-day months), and the denominator of which is 360.

        (d) Notwithstanding but without prejudice to the foregoing, except as
provided for in this Registration Rights Agreement, no monetary damages shall be
assessed against the Company by reason of any Registration Default, it being
understood that the Additional Interest as provided in Section 5 is intended to
serve as full and complete monetary compensation to the Holders in such
circumstances.

        6. Rules 144 and 144A. The Company shall use its commercially reasonable
efforts to file the reports required to be filed by it under the Securities Act
and the Exchange Act in a timely manner and, if at any time the Company is not
required to file such reports, it will, upon the request of any Holder of
Securities, make publicly available such other information so long as necessary
to permit sales of its Securities pursuant to Rules 144 and 144A under the
Securities Act. The Company covenants that it will take such further action as
any Holder of Securities may reasonably request in writing, all to the extent
required from time to time to enable such Holder to sell Securities without
registration under the Securities Act within the limitation of the exemptions
provided by Rules 144 and 144A (including the requirements of Rule 144A(d)(4)
under the Securities Act). The Company will provide a copy of this Agreement to
prospective purchasers of Securities identified to the Company by the Purchaser
upon written request. Notwithstanding the foregoing, nothing in this Section 6
shall be deemed to require the Company to register any of its securities
pursuant to the Exchange Act.

        7. Underwritten Registrations. If any of the Transfer Restricted
Securities covered by the Shelf Registration are to be sold in an underwritten
offering, one or more investment banker or investment bankers and manager or
managers reasonably acceptable to the Company (the "MANAGING UNDERWRITERS") will
be selected by the Holders of a majority in accreted principal amount of such
Transfer Restricted Securities at the time outstanding to be included in such
offering (determined pursuant to Section 8(k) hereof) to administer such
offering.

                                      -12-

<PAGE>
        No person may participate in any underwritten registration hereunder
unless such person (i) agrees to sell such person's Transfer Restricted
Securities on the basis reasonably provided in any underwriting arrangements
approved by the persons entitled hereunder to approve such arrangements and (ii)
completes and executes all questionnaires, powers of attorney, indemnities,
underwriting agreements and other documents reasonably required under the terms
of such underwriting arrangements.

        8. Miscellaneous.

        (a) Remedies. The Company acknowledges and agrees that any failure by it
to comply with its obligations under Section 1 hereof may result in material
irreparable injury to the Purchaser or the Holders for which there is no
adequate remedy at law, that it will not be possible to measure damages for such
injuries precisely and that, in the event of any such failure, the Purchaser or
any Holder may obtain such relief as may be required to specifically enforce the
Company's obligations under Section 1 hereof. The Company further agrees to
waive the defense in any action for specific performance that a remedy at law
would be adequate.

        (b) No Inconsistent Agreements. The Company will not on or after the
date hereof enter into any agreement with respect to its securities that is
inconsistent with the rights granted to the Holders in this Agreement or
otherwise conflicts with the provisions hereof. The rights granted to the
Holders hereunder do not in any way conflict with and are not inconsistent with
the rights granted to the holders of the Company's securities under any
agreement in effect on the date hereof.

        (c) Amendments and Waivers. The provisions of this Agreement may not be
amended, modified or supplemented, and waivers or consents to departures from
the provisions hereof may not be given, except by the Company and the written
consent of the Holders of a majority in accreted principal amount of the
Securities at the time outstanding affected by such amendment, modification,
supplement, waiver or consents (determined pursuant to Section 8(k) hereof).

        (d) Notices. All notices, requests and other communications provided for
or permitted hereunder shall be made in writing by hand delivery, first-class
mail, facsimile transmission, or air courier which guarantees overnight
delivery:

               (1) if to a Holder of the Securities, at the most current address
given by such Holder to the Company.

               (2) if to the Purchaser:

                      Credit Suisse First Boston Corporation
                      Eleven Madison Avenue
                      New York, NY 10010-3629
                      Fax No.:  (212) 325-8278
                      Attention:  Transactions Advisory Group

                                      -13-

<PAGE>
                      With a copy to:

                      Milbank, Tweed, Hadley & McCloy LLP
                      One Chase Manhattan Plaza
                      New York, NY  10005-1413
                      Fax No.:  (212) 822-5546
                      Attention:  Arnold B. Peinado, III

               (3)    if to the Company, to the following address:

                      c/o AmerUs Group Co.
                      699 Walnut Street
                      Des Moines, Iowa 50309-3948
                      Fax No.:  (515) 362-3648
                      Attention: General Counsel

                      With a copy to:

                      Shearman & Sterling
                      599 Lexington Avenue
                      New York, New York 10022
                      Fax No.:  (212) 848-7179
                      Attention:  Andrew R. Schleider

        All such notices and communications shall be deemed to have been duly
given: at the time delivered by hand, if personally delivered; three business
days after being deposited in the mail, postage prepaid, if mailed; when receipt
is acknowledged by recipient's facsimile machine operator, if sent by facsimile
transmission; and on the day delivered, if sent by overnight air courier
guaranteeing next day delivery.

        (e) Third Party Beneficiaries. The Holders shall be third party
beneficiaries to the agreements made hereunder between the Company and the
Purchaser and shall have the right to enforce such agreements directly to the
extent they may deem such enforcement necessary or advisable to protect their
rights or the rights of Holders hereunder.

        (f) Successors and Assigns. This Agreement shall be binding upon the
Company and its successors and assigns.

        (g) Counterparts. This Agreement may be executed in any number of
counterparts and by the 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.

        (h) Headings. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

                                      -14-

<PAGE>
        (i) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

        (j) Severability. If any one or more of the provisions contained herein,
or the application thereof in any circumstance, is held invalid, illegal or
unenforceable, the validity, legality and enforceability of any such provision
in every other respect and of the remaining provisions contained herein shall
not be affected or impaired thereby.

        (k) Determination of Required Percentages. Whenever the consent or
approval of Holders of a specified percentage of accreted principal amount of
Securities or Transfer Restricted Securities at the time outstanding is required
hereunder, (i) Securities held by the Company or its affiliates (other than
subsequent Holders of Securities if such subsequent Holders are deemed to be
affiliates solely by reason of their holdings of such Securities) shall not be
counted in determining whether such consent or approval was given by the Holders
of such required percentage and (ii) Holders of Underlying Shares that remain
Transfer Restricted Securities shall be deemed Holders of the accreted principal
amount of the OCEANs converted into such Underlying Shares.

        (l) Submission to Jurisdiction; Waiver of Immunities. By the execution
and delivery of this Agreement, the Company (i) submits to the nonexclusive
jurisdiction of any federal or state court in the State of New York in any suit
or proceeding arising out of or relating to this Agreement, and (ii) agrees that
service of process upon the Company shall be deemed in every respect effective
service of process upon it in any such suit or proceeding. To the extent that
the Company may acquire any immunity from jurisdiction of any court or from any
legal process (whether through service of notice, attachment prior to judgment,
attachment in aid of execution, execution or otherwise) with respect to itself
or its property, the Company hereby irrevocably waives such immunity in respect
of this Agreement, to the fullest extent permitted by law.

                                      -15-

<PAGE>
        If the foregoing is in accordance with your understanding of our
agreement, please sign and return to the Company a counterpart hereof, whereupon
this instrument, along with all counterparts, will become a binding agreement
between the Purchaser and the Company in accordance with its terms.

                                            AMERUS GROUP CO.

                                            By: /s/ Victor N. Daley
                                               --------------------------------
                                               Name: Victor N. Daley
                                               Title: Executive Vice President

The foregoing Registration Rights Agreement
 is hereby confirmed and accepted
 as of the date first above written.

CREDIT SUISSE FIRST BOSTON CORPORATION

By: /s/ John A. Sipp
   --------------------------------
       Name: John A. Sipp
       Title: Managing Director

                                      -16-<PAGE>
                                                                   Exhibit 10(k)

                         TERMINATION BENEFITS AGREEMENT

            This Termination Benefits Agreement ("Agreement") is made and
entered into as of March 12, 2001, by and between Integra Bank Corporation,
an Indiana corporation (hereinafter referred to as the "Corporation") and
Archie M. Brown, Jr. (hereinafter referred to as "Employee").

                               W I T N E S S E T H
                               - - - - - - - - - -

            WHEREAS, Employee is an at-will employee of the Corporation and
has been appointed an executive officer of the Corporation; and

            WHEREAS, the Corporation believes that Employee will make valuable
contributions to the productivity and profitability of the Corporation; and

            WHEREAS, the Corporation desires to encourage Employee to continue
to make such contributions and not to seek or accept employment elsewhere; and

            WHEREAS, the Corporation, therefore, desires to assure Employee of
certain benefits in case of any termination or significant redefinition of the
terms of his employment with the Corporation in connection with any Change in
Control of the Corporation;

            NOW, THEREFORE, in consideration of the foregoing and of the mutual
covenants herein contained and the mutual benefits herein provided, the
Corporation and Employee hereby agree as follows:

            1.    The term of this Agreement shall be from the date hereof
through December 31, 2004; provided, however, that such term shall be
automatically extended for an additional year on December 31, 2001, and on
December 31 of each year thereafter unless either party hereto gives written
notice to the other party not to so extend prior to November 30 of the year for
which notice is given, in which case no further automatic extension shall occur
and the term of this Agreement shall end on December 31 two (2) years subsequent
to the date of the latest preceding automatic extension. Notwithstanding the
foregoing, if a Change in Control of the Corporation (as defined in Section 2
below) shall occur prior to the expiration of the original term or any
extensions of the term of this Agreement, then the term of this Agreement shall
automatically become a term of two (2) years commencing on the date of any such
Change in Control.

            2.    As used in this Agreement, "Change in Control" of the
Corporation means:

            (A)   The acquisition by any individual, entity or group (within the
      meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of
      1934, as amended (the "Exchange Act") (a "Person") of beneficial ownership
      (within the meaning of Rule 13d-3 promulgated under the Exchange Act as in
      effect from time to time) of twenty-five percent (25%) or more of either
      (i) the then outstanding shares of common stock of the Corporation or (ii)
      the combined voting power of the then outstanding voting securities of the
      Corporation entitled
<PAGE>
      to vote generally in the election of directors; provided, however, that
      the following acquisitions shall not constitute an acquisition of control:
      (i) any acquisition directly from the Corporation (excluding an
      acquisition by virtue of the exercise of a conversion privilege), (ii) any
      acquisition by the Corporation, (iii) any acquisition by any employee
      benefit plan (or related trust) sponsored or maintained by the Corporation
      or any corporation controlled by the Corporation, or (iv) any acquisition
      by any corporation pursuant to a reorganization, merger or consolidation,
      if, following such reorganization, merger or consolidation, the conditions
      described in clauses (i), (ii) and (iii) of subsection (C) of this Section
      2 are satisfied;

            (B)   Individuals who, as of the date hereof, constitute the Board
      of Directors of the Corporation (the "Incumbent Board") cease for any
      reason to constitute at least a majority of the Board of Directors of the
      Corporation (the "Board"); provided, however, that any individual becoming
      a director subsequent to the date hereof whose election, or nomination for
      election by the Corporation's shareholders, was approved by a vote of at
      least a majority of the directors then comprising the Incumbent Board
      shall be considered as though such individual were a member of the
      Incumbent Board, but excluding, for this purpose, any such individual
      whose initial assumption of office occurs as a result of either an actual
      or threatened election contest (as such terms are used in Rule 14a-11 of
      Regulation 14A promulgated under the Exchange Act) or other actual or
      threatened solicitation of proxies or consents by or on behalf of a Person
      other than the Board; or

            (C)   Approval by the shareholders of the Corporation of a
      reorganization, merger or consolidation, in each case, unless, following
      such reorganization, merger or consolidation, (i) more than sixty percent
      (60%) of, respectively, the then outstanding shares of common stock of the
      corporation resulting from such reorganization, merger or consolidation
      and the combined voting power of the then outstanding voting securities of
      such corporation entitled to vote generally in the election of directors
      is then beneficially owned, directly or indirectly, by all or
      substantially all of the individuals and entities who were the beneficial
      owners, respectively, of the outstanding Corporation common stock and
      outstanding Corporation voting securities immediately prior to such
      reorganization, merger or consolidation in substantially the same
      proportions as their ownership, immediately prior to such reorganization,
      merger or consolidation, of the outstanding Corporation stock and
      outstanding Corporation voting securities, as the case may be, (ii) no
      Person (excluding the Corporation, any employee benefit plan or related
      trust of the Corporation or such corporation resulting from such
      reorganization, merger or consolidation and any Person beneficially
      owning, immediately prior to such reorganization, merger or consolidation,
      directly or indirectly, twenty-five percent (25%)

                                      -2-
<PAGE>
      or more of the outstanding Corporation common stock or outstanding voting
      securities, as the case may be) beneficially owns, directly or indirectly,
      twenty-five percent (25%) or more of, respectively, the then outstanding
      shares of common stock of the corporation resulting from such
      reorganization, merger or consolidation or the combined voting power of
      the then outstanding voting securities of such corporation entitled to
      vote generally in the election of directors and (iii) at least a majority
      of the members of the board of directors of the corporation resulting from
      such reorganization, merger or consolidation were members of the Incumbent
      Board at the time of the execution of the initial agreement providing for
      such reorganization, merger or consolidation; or

            (D)   Approval by the shareholders of the Corporation of (i) a
      complete liquidation or dissolution of the Corporation or (ii) the sale or
      other disposition of all or substantially all of the assets of the
      Corporation, other than to a corporation with respect to which following
      such sale or other disposition (a) more than sixty percent (60%) of,
      respectively, the then outstanding shares of common stock of such
      corporation and the combined voting power of the then outstanding voting
      securities of such corporation entitled to vote generally in the election
      of directors is then beneficially owned, directly or indirectly, by all or
      substantially all of the individuals and entities who were the beneficial
      owners, respectively, of the outstanding Corporation common stock and
      outstanding Corporation voting securities immediately prior to such sale
      or other disposition in substantially the same proportion as their
      ownership, immediately prior to such sale or other disposition, of the
      outstanding Corporation common stock and outstanding Corporation voting
      securities, as the case may be, (b) no Person (excluding the Corporation
      and any employee benefit plan or related trust of the Corporation or such
      corporation and any Person beneficially owning, immediately prior to such
      sale or other disposition, directly or indirectly, twenty-five percent
      (25%) or more of the outstanding Corporation common stock or outstanding
      Corporation voting securities, as the case may be) beneficially owns,
      directly or indirectly, twenty-five percent (25%) or more of,
      respectively, the then outstanding shares of common stock of such
      corporation and the combined voting power of the then outstanding voting
      securities of such corporation entitled to vote generally in the election
      of directors and (c) at least a majority of the members of the board of
      directors of such corporation were members of the Incumbent Board at the
      time of the execution of the initial agreement or action of the Board
      providing for such sale or other disposition of assets of the Corporation.

            3.    The Corporation shall provide Employee with the benefits set
forth in Section 6 of this Agreement upon any termination of Employee's
employment by the Corporation following a Change in Control during the term of
this Agreement for any reason except the following:

            (A)   Termination by reason of Employee's death.

            (B)   Termination by reason of Employee's "disability." For purposes
      hereof, "disability" shall be defined as Employee's inability by reason of
      illness or other physical or mental disability to perform the duties
      required by his

                                      -3-
<PAGE>
      employment for any consecutive One Hundred Eighty (180) day period,
      provided that notice of any termination by the Corporation because of
      Employee's "disability" shall have been given to Employee prior to the
      resumption by him of the performance of such duties.

            (C)   Termination upon Employee reaching his normal retirement date,
      which for purposes of this Agreement shall be deemed to be the end of the
      month during which employee reaches sixty-five (65) years of age.

            (D)   Termination for "cause." As used in this Agreement, the term
      "cause" means fraud, dishonesty, theft of corporate assets, or other gross
      misconduct by Employee. Notwithstanding the foregoing, Employee shall not
      be deemed to have been terminated for cause unless and until there shall
      have been delivered to him a copy of a resolution duly adopted by the
      affirmative vote of not less than a majority of the entire membership of
      the Corporation's Board at a meeting called and held for the purpose
      (after reasonable notice to him and an opportunity for him, together with
      his counsel, to be heard before such Board), finding that, in the good
      faith opinion of such Board, Employee was guilty of conduct constituting
      "cause" and specifying the particulars thereof in detail.

            4.    The Corporation shall also provide Employee with the benefits
set forth in Section 6 of this Agreement upon any termination of Employee's
employment with the Corporation at Employee's option if any one of the following
events occurs within six (6) months prior to or within two (2) years following a
Change in Control:

            (A)   Without Employee's express written consent, the assignment of
      Employee to any duties which, in Employee's reasonable judgment, are
      materially inconsistent with his positions, duties, responsibilities or
      status with the Corporation immediately prior to the earlier of
      termination of employment or the Change in Control or a substantial
      reduction of his duties or responsibilities which, in Employee's
      reasonable opinion, does not represent a promotion from his position,
      duties or responsibilities immediately prior to the earlier of termination
      of employment or the Change in Control.

            (B)   A reduction by the Corporation in Employee's salary from the
      level of such salary immediately prior to the earlier of termination of
      employment or the Change in Control or the Corporation's failure to
      increase (within twelve (12) months of Employee's last increase in base
      salary) Employee's base salary after a Change in Control in an amount
      which at least equals, on a percentage basis, the average percentage
      increase in base salary for all executive and senior officers of the
      Corporation effected in the preceding twelve (12) months.

            (C)   The failure by the Corporation to continue in effect any
      incentive, bonus or other compensation plan in which Employee
      participates, including but not limited to the Corporation's stock option
      plans, unless an equitable

                                      -4-
<PAGE>
      arrangement (embodied in an ongoing substitute or alternative plan), with
      which Employee has consented, has been made with respect to such plan in
      connection with the Change in Control, or the failure by the Corporation
      to continue Employee's participation therein, or any action by the
      Corporation which would directly or indirectly materially reduce
      Employee's participation therein.

            (D)   The failure by the Corporation to continue to provide Employee
      with benefits substantially similar to those enjoyed by Employee or to
      which Employee was entitled under any of the Corporation's principal
      pension, profit sharing, life insurance, medical, dental, health and
      accident, or disability plans in which Employee was participating
      immediately prior to the earlier of the termination of employment or the
      Change in Control, the taking of any action by the Corporation which would
      directly or indirectly materially reduce any of such benefits or deprive
      Employee of any material fringe benefit enjoyed by Employee or to which
      Employee was entitled immediately prior to the earlier of the termination
      of employment or the Change in Control, or the failure by the Corporation
      to provide Employee with the number of paid vacation and sick leave days
      to which Employee is entitled on the basis of years of service or position
      with the Corporation in accordance with the Corporation's normal vacation
      policy in effect on the date hereof.

            (E)   The Corporation's requiring Employee to be based anywhere
      other than the metropolitan area where the Corporation office at which he
      was based immediately prior to the earlier of the termination of
      employment or the Change in Control was located, except for required
      travel on the Corporation's business in accordance with the Corporation's
      past management practices.

            (F)   Any failure of the Corporation to obtain the assumption of the
      obligation to perform this Agreement by any successor as contemplated in
      Section 10 hereof.

            (G)   Any failure by the Corporation or its shareholders, as the
      case may be, to reappoint or reelect Employee to a corporate office held
      by him immediately prior to the earlier of the termination of employment
      or the Change in Control or his removal from any such office including any
      seat held at such time on the Corporation's Board of Directors.

            (H)   The effectiveness of a resignation, tendered at any time,
      either before or after a Change in Control and regardless of whether
      formally characterized as voluntary or otherwise, by Employee of any
      corporate office held by him immediately prior to the Change in Control or
      of any seat held at such time on the Corporation's Board of Directors, at
      the request of the Corporation or at the request of the person obtaining
      control of the Corporation in such Change in Control.

                                      -5-
<PAGE>
            (I)   Any purported termination of the Employee's employment which
      is not effected pursuant to a Notice of Termination satisfying the
      requirements of Section 5 hereof (and, if applicable, Section 3(D)
      hereof); and for purposes of this Agreement, no such purported termination
      shall be effective.

            (J)   Any request by the Corporation that Employee participate in an
      unlawful act or take any action constituting a breach of Employee's
      professional standard of conduct.

            (K)   Any breach by the Corporation of any of the provisions of this
      Agreement or any failure by the Corporation to carry out any of its
      obligations hereunder.

Notwithstanding anything in this Section 4 to the contrary, Employee's right to
terminate Employee's employment pursuant to this Section 4 shall not be affected
by Employee's incapacity due to physical or mental illness.

            5.    Any termination of Employee's employment with the Corporation
as contemplated by Section 3 hereof (except subsection 3(A) and 3(C)) or by
Employee as contemplated by Section 4 hereof shall be communicated by written
"Notice of Termination" to the other party hereto. Any "Notice of Termination"
given by Employee pursuant to Section 4 or given by the Corporation in
connection with a termination as to which the Corporation believes it is not
obligated to provide Employee with benefits set forth in Section 6 hereof shall
indicate the specific provisions of this Agreement relied upon and shall set
forth in reasonable detail the facts and circumstances claimed to provide a
basis for such termination.

            6.    Subject to the conditions and exceptions set forth in Section
3 and Section 4 hereof, the following benefits, less any amounts required to be
withheld therefrom under any applicable federal, state or local income tax,
other tax, or social security laws or similar statutes, shall be paid to
Employee upon any termination of his employment within six (6) months before or
within two (2) years after any Change in Control:

            (A)   Within thirty (30) days following such a termination or, if
      later, such a Change in Control, Employee shall be paid, at his
      then-effective salary, for services performed through the date of his
      termination. In addition, any earned but unpaid amount of any bonus or
      incentive payment (which, for purposes of this Agreement, shall mean that
      amount computed in a fashion consistent with the manner in which
      Employee's bonus or incentive plan for the year preceding the year of
      termination was computed, if Employee received a bonus or incentive
      payment during such preceding year in accordance with a plan or program of
      the Corporation, or, if not, then the total bonus or incentive payment
      received by the Employee during such preceding year, in either case
      prorated through the date of termination) shall be paid to Employee within
      thirty (30) days following the termination of his employment or, if later,
      such a Change in Control.

                                      -6-
<PAGE>
            (B)   Within thirty (30) days following such a termination, Employee
      shall be paid a lump sum payment of an amount equal to two and nine-tenths
      (2.9) times Employee's "Base Amount." For purposes hereof, Base Amount is
      defined as Employee's average includable salary, bonus, incentive payments
      and similar compensation paid by the Corporation for the five (5) most
      recent taxable years ending before the date on which the Change in Control
      occurs (or such shorter period of time that the Employee has been employed
      by the Corporation). The definition, interpretation and calculation of the
      dollar amount of Base Amount shall be in a manner consistent with and as
      required by the provisions of Section 280G of the Internal Revenue Code of
      1986, as amended ("Code"), and the regulations and rulings of the Internal
      Revenue Service promulgated thereunder. The payments to the Employee under
      this Section 6(B) shall be reduced by the full amount that such payment,
      when added to all other payments or benefits of any kind to the Employee
      by reason of the Change in Control, constitutes an "excess parachute
      payment" within the meaning of Section 280G of the Code.

            (C)   Employee acknowledges and agrees that payment in accordance
      with subsections 6(A), 6(B) and 6(C) shall be deemed to constitute a full
      settlement and discharge of any and all obligations of the Corporation to
      Employee arising out of his employment with the Corporation and the
      termination thereof, except for any vested rights Employee may then have
      under any insurance, pension, supplemental pension, thrift, employee stock
      ownership, or stock option plans sponsored or made available by the
      Corporation.

            7.    The Corporation is aware that upon the occurrence of a Change
in Control the Board of Directors or a shareholder of the Corporation may then
cause or attempt to cause the Corporation to refuse to comply with its
obligations under this Agreement, or may cause or attempt to cause the
Corporation to institute, or may institute, litigation seeking to have this
Agreement declared unenforceable, or may take or attempt to take other action to
deny Employee the benefits intended under this Agreement. In these
circumstances, the purpose of this Agreement could be frustrated. It is the
intent of the Corporation that Employee not be required to incur the expenses
associated with the enforcement of his rights under this Agreement by litigation
or other legal action, nor be bound to negotiate any settlement of his rights
hereunder, because the cost and expense of such legal action or settlement would
substantially detract from the benefits intended to be extended to Employee
hereunder. Accordingly, if following a Change in Control it should appear to
Employee that the Corporation has failed to comply with any of its obligations
under this Agreement or in the event that the Corporation or any other person
takes any action to declare this Agreement void or unenforceable, or institutes
any litigation or other legal action designed to deny, diminish or to recover
from Employee the benefits entitled to be provided to the Employee hereunder,
and that Employee has complied with all of his obligations under this Agreement,
the Corporation irrevocably authorizes Employee from time to time to retain
counsel of his choice, at the expense of the Corporation as provided in this
Section 7, to represent Employee in connection with the initiation or defense of
any litigation or other legal action, whether such action is by or against

                                      -7-
<PAGE>
the Corporation or any director, officer, shareholder, or other person
affiliated with the Corporation, in any jurisdiction. Notwithstanding any
existing or prior attorney-client relationship between the Corporation and such
counsel, the Corporation irrevocably consents to Employee entering into an
attorney-client relationship with such counsel, and in that connection the
Corporation and Employee agree that a confidential relationship shall exist
between Employee and such counsel. The reasonable fees and expenses of counsel
selected from time to time by Employee as hereinabove provided shall be paid or
reimbursed to Employee by the Corporation on a regular, periodic basis upon
presentation by Employee of a statement or statements prepared by such counsel
in accordance with its customary practices, up to a maximum aggregate amount of
One Hundred Thousand Dollars ($100,000). Any legal expenses incurred by the
Corporation by reason of any dispute between the parties as to enforceability of
or the terms contained in this Agreement as provided by this Section 7,
notwithstanding the outcome of any such dispute, shall be the sole
responsibility of the Corporation, and the Corporation shall not take any action
to seek reimbursement from Employee for such expenses. Notwithstanding any
limitation contained in this Section 7 to the contrary, Employee shall be
entitled to payment or reimbursement of legal expenses in excess of One Hundred
Thousand Dollars ($100,000) if the expenses were incurred as a result of a
dispute under this Agreement in which Employee obtains a final judgment in his
favor from a court of competent jurisdiction or his claim is settled by the
Corporation prior to the rendering of a judgment by such a court.

            8.    Employee is not required to mitigate the amount of benefit
payments to be made by the Corporation pursuant to this Agreement by seeking
other employment or otherwise, nor shall the amount of any benefit payments
provided for in this Agreement be reduced by any compensation earned by Employee
as a result of employment by another employer or which might have been earned by
Employee had Employee sought such employment, after the date of termination of
his employment with the Corporation or otherwise.

            9.    In order to induce the Corporation to enter into this
Agreement, Employee hereby agrees as follows:

            (A)   He agrees that his employment with the Corporation is
      terminable at will by the Corporation and that this Agreement does not
      alter that relationship in any way.

            (B)   He will keep confidential and not improperly divulge for the
      benefit of any other party any of the Corporation's confidential
      information and business secrets including, but not limited to,
      confidential information and business secrets relating to such matters as
      the Corporation's finances and operations. All of the Corporation's
      confidential information and business secrets shall be the sole and
      exclusive property of the Corporation.

            (C)   For a period of two years after Employee's employment with the
      Corporation ceases, Employee shall not either on his own account or for
      any other person, firm or company solicit or endeavor to cause any
      employee of the

                                      -8-
<PAGE>
      Corporation to leave his employment or to induce or attempt to induce any
      such employee to breach any employment agreement with the Corporation.

In the event of a breach or threatened breach by Employee of the provisions of
this Section 9, the Corporation shall be entitled to an injunction restraining
Employee from committing or continuing such breach. Nothing herein contained
shall be construed as prohibiting the Corporation from pursuing any other
remedies available to it for such breach or threatened breach including the
recovery of damages from Employee. The covenants of this Section 9 shall run not
only in favor of the Corporation and its successors and assigns, but also in
favor of its subsidiaries and their respective successors and assigns and shall
survive the termination of this Agreement.

            10.   The Corporation shall require any successor (whether direct or
indirect, by purchase, merger, consolidation or otherwise) to all or
substantially all of the business and/or assets of the Corporation, by agreement
in form and substance satisfactory to Employee, to expressly assume and agree to
perform this Agreement in the same manner and to the same extent that the
Corporation would be required to perform it if no such succession had taken
place. Failure of the Corporation to obtain such agreement prior to the
effectiveness of any such succession shall be a breach of this Agreement and
shall entitle Employee to compensation from the Corporation in the same amount
and on the same terms as Employee would be entitled hereunder if he were to
terminate his employment pursuant to Section 4 hereof, except that for purposes
of implementing the foregoing, the date on which succession becomes effective
shall be deemed the date of termination of Employee's employment with the
Corporation. As used in this Agreement, "Corporation" shall mean the Corporation
as hereinbefore defined and any successor to the business or assets of it as
aforesaid which executes and delivers the agreement provided for in this Section
10 or which otherwise becomes bound by all of the terms and provisions of this
Agreement by operation of law.

            11.   Should Employee die while any amounts are payable to him
hereunder, this Agreement shall inure to the benefit of and be enforceable by
Employee's executors, administrators, heirs, distributees, devisees and legatees
and all amounts payable hereunder shall be paid in accordance with the terms of
this Agreement to Employee's devisee, legatee or other designee or if there be
no such designee, to his estate.

            12.   For purposes of this Agreement, notices and all other
communications provided for herein shall be in writing and shall be deemed to
have been given when delivered or mailed by United States registered or
certified mail, return receipt requested, postage prepaid, addressed as follows:

            If to Employee:

                  Archie M. Brown, Jr.
                  6684 Stillington Drive
                  Hamilton, Ohio  45011-9159

                                      -9-
<PAGE>
            If to the Corporation:

                  Integra Bank Corporation
                  21 Southeast Third Street
                  P. O. Box 868
                  Evansville, Indiana 47705-0868
                  Attention:  Chief Executive Officer

or to such other address as any party may have furnished to the other party in
writing in accordance herewith, except that notices of change of address shall
be effective only upon receipt.

            13.   The validity, interpretation, and performance of this
Agreement shall be governed by the laws of the State of Indiana. The parties
agree that all legal disputes regarding this Agreement will be resolved in
Evansville, Indiana, and irrevocably consent to service of process in such City
for such purpose.

            14.   No provision of this Agreement may be modified, waived or
discharged unless such waiver, modification or discharge is agreed to in writing
signed by Employee and the Corporation. No waiver by any party hereto at any
time of any breach by any other party hereto of, or compliance with, any
condition or provision of this Agreement to be performed by such other party
shall be deemed a waiver of similar or dissimilar provisions or conditions at
the same or any prior or subsequent time. No agreements or representation, oral
or otherwise, express or implied, with respect to the subject matter hereof have
been made by any party which are not set forth expressly in this Agreement.

            15.   The invalidity or unenforceability of any provisions of this
Agreement shall not affect the validity or enforceability of any other provision
of this Agreement, which shall remain in full force and effect.

            16.   This Agreement may be executed in one or more counterparts,
each of which shall be deemed an original but all of which together will
constitute one and the same Agreement.

            17.   This Agreement is personal in nature and neither of the
parties hereto shall, without the consent of the other, assign or transfer this
Agreement or any rights or obligations hereunder, except as provided in Section
10 and Section 11 above. Without limiting the foregoing, Employee's right to
receive payments hereunder shall not be assignable or transferable, whether by
pledge, creation of a security interest or otherwise, other than a transfer by
his will or by the laws of descent and distribution as set forth in Section 11
hereof, and in the event of any attempted assignment or transfer contrary to
this Section 17, the Corporation shall have no liability to pay any amount so
attempted to be assigned or transferred.

            Any benefits payable under this Agreement shall be paid solely from
the general assets of the Corporation. Neither Employee nor Employee's
beneficiary shall have interest in

                                      -10-
<PAGE>
any specific assets of the Corporation under the terms of this Agreement. This
Agreement shall not be considered to create an escrow account, trust fund or
other funding arrangement of any kind or a fiduciary relationship between
Employee and the Corporation.

                                      -11-
<PAGE>
            IN WITNESS WHEREOF, the parties have caused this Agreement to be
executed and delivered as of the day and year first above set forth.

                                    INTEGRA BANK CORPORATION
                                    ("Corporation")

                                    By:   /s/ MICHAEL T. VEA
                                          -------------------------------------
                                          Michael T. Vea, Chairman of the Board,
                                          President and Chief Executive Officer

                                          /s/ ARCHIE M. BROWN, JR
                                          --------------------------------------
                                          Archie M. Brown, Jr       ("Employee")

                                      -12-

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