Document:

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                         GENERAL GROWTH PROPERTIES, INC.
                             STOCK OPTION AGREEMENT

         THIS AGREEMENT is made and entered into as of the <<Date>> by and
between GENERAL GROWTH PROPERTIES, INC., a Delaware corporation (the "Company"),
and <<Employee_Name>> (the "Director").

         WHEREAS, in order to retain and motivate the Director as a member of
the Board of Directors, the Company hereby desires to grant an option to
purchase shares of common stock $.10 par value, of the Company (the "Common
Stock") pursuant to the General Growth Properties, Inc. 2003 Incentive Stock
Plan (the "Plan"); the terms and conditions of which are hereby incorporated
herein:

         WHEREAS, the Director wishes to acquire the right to purchase shares of
Common Stock.

         NOW, THEREFORE, for good and valuable consideration, the parties
hereto, intending to be legally bound, hereby agree as follows:

         1. Grant of Option. In accordance with the terms and conditions of the
Plan which are hereby incorporated herein, the Company hereby grants to the
Director an option (the "Option") to purchase <<Options>> shares of Common Stock
at a purchase price of <<discount price>> per share, the Fair Market Value (as
defined in the Plan) per share on the date hereof. This Option is a
Non-Qualified Stock Option and is not intended to qualify as an Incentive Stock
Option described in Section 422 of the Code.

         2. Time for Exercise of Options.

                  (a) The Option may be exercised by the Director from and after
the date hereof (the "Grant Date"), whether in whole or in part, in accordance
with the terms and conditions set forth herein and in the Plan.

                  (b) The Option must be exercised if at all on or before the
fifth anniversary of the Grant Date and only at such time as the Director is
serving as a director of the Company or as provided in Paragraph 3 hereof.

         3. Termination of Service.

                  (a) If the Director ceases to serve as a member of the Board
of Directors of the Company by reason of death, then, notwithstanding the
provisions of Section 2 of this Agreement, the Option may thereafter be
exercised for a period of one year from the date of such death or until the
expiration of the term of the Option, whichever period is shorter.

                  (b) If the Director ceases to serve as a member of the Board
of Directors of the Company by reason of Retirement or Disability, then,
notwithstanding the provisions of Section 2 of this Agreement, the Option may
thereafter be exercised by the Director for a period of three years from the
date of such termination of employment or until the expiration of the term
hereof, whichever period

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is shorter; provided, however, that if the Director dies within such three-year
period, any unexercised portion of this Option shall, notwithstanding the
expiration of such three-year period, continue to be exercisable to the extent
to which it was exercisable at the time of death for a period of one year from
the date of such death or until the expiration of the term hereof, whichever
period is shorter.

                  (c) If the Director ceases to serve as a member of the Board
of Directors of the Company for any reason other than death, Disability,
Retirement or Cause (as hereinafter defined) then, notwithstanding the
provisions of Section 2 of this Agreement, the Option may be exercised for the
lesser of one year from the date the Director ceases to serve as a member of the
Board of Directors of the Company or the balance of the term of the Option;
provided, however, that if the Director dies within such one year period, any
unexercised portion of the Option shall, notwithstanding the expiration of such
one year period, continue to be exercisable to the extent to which it was
exercisable at the time of death for a period of one year from the date of such
death or until the expiration of the stated term of the Option, whichever period
is shorter.

                  (d) In the event the Director ceases to serve as a member of
the Board of Directors by reason of Cause, any unexercised portion of the Option
shall expire immediately upon termination of the Director's service as a member
of the Board of Directors or, if earlier, upon the giving to the Director of
notice of termination of such service.

                  (e) For purposes of this Agreement, the term "Cause" shall
mean, unless otherwise determined by the Committee, (i) the conviction of the
Recipient for committing a felony under federal law or the law of the state in
which such action occurred, (ii) dishonesty in the course of fulfilling the
Recipient's employment duties or (iii) willful and deliberate failure on the
part of the Recipient to perform his or her employment duties in any material
respect.

         4. Method of Exercise. The Option may be exercised by written notice
(the "Notice"), addressed and delivered to the Company specifying the number of
whole shares of Common Stock subject to the Option to be purchased. The Notice
shall be accompanied by (i) cash, or (ii) that number of Mature Shares of
unrestricted or restricted (if the requirements of Section 7(c)(ii) of the Plan
are satisfied) Common Stock which has an aggregate Fair Market Value (as of the
date of exercise) equal to the aggregate exercise price for all of the shares of
Common Stock subject to such exercise, or (iii) by a combination of (i) and
(ii), above, or (iv) subject to Section 17(g) of the Plan, at the discretion of
the Committee, by delivery of such documentation as the Committee and a
qualified broker, if applicable, shall require to effect an exercise of the
Option and delivery to the Company of the sale or loan proceeds required to pay
the exercise price. The Director agrees that no later than the date as of which
an amount first becomes includible in his gross income for Federal income tax
purposes with respect to the Option, the Director shall pay to the Company, or
make arrangements satisfactory to the Company regarding the payment of, any
Federal, state, local or foreign taxes of any kind required by law to be
withheld with respect to such amount. Unless otherwise determined by the
Committee, withholding obligations may be settled with Common Stock, including
Common Stock that is acquired upon exercise of the Option. The obligations of
the Company under this Agreement and the Plan shall be conditional on such
payment or arrangements, and the Company shall, to the extent permitted by law,
have the right to deduct any such taxes from any payment otherwise due to the
Director.

                                      -2-
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         5. Delivery of Stock Certificates. The Option shall be deemed to have
been exercised upon receipt by the Company of written notice of exercise
accompanied by the exercise price (the "Exercise Date") and the Director shall
be treated as the holder of record of the shares with respect to which the
Option is exercised as of the Exercise Date for all purposes.

         6. Adjustment Provisions. Subject to the terms of the Plan, if, during
the term of this Agreement, there shall be any merger, reorganization,
consolidation, recapitalization, stock dividend, stock split, extraordinary
distribution with respect to the Common Stock, or other change in corporate
structure affecting the Common Stock, the Board shall make an appropriate and
equitable substitution or adjustment in the aggregate number, kind and option
price of shares subject to this Option.

         7. Non-Transferability. The Option is not transferable or assignable by
the Director other than by will or by the laws of descent and distribution, or
pursuant to a qualified domestic relations order, and is exercisable during the
lifetime of the Director only by the Director, his guardian or legal
representative or by an alternate payee pursuant to such qualified domestic
relations order.

         8. Compliance with Law. By accepting the Option, the Director agrees
for himself and his guardian or legal representative that no shares of Common
Stock shall be delivered pursuant to the Option until qualified for delivery
under applicable securities laws and regulations as determined by the Company or
its legal counsel.

         9. Limitations. The Director shall have no rights as a stockholder with
respect to shares as to which the Option shall not have been exercised and
payment made as herein provided and shall have no rights with respect to such
shares not expressly conferred by this Agreement.

         10. Construction.

                  (a) Successors. This Agreement and all the terms and
provisions hereof shall be binding upon and shall inure to the benefit of the
parties hereto and their respective legal representatives, heirs and successors,
except as expressly herein otherwise provided.

                  (b) Entire Agreement; Modification. This Agreement contains
the entire understanding between the parties with respect to the matters
referred to herein. Subject to Section 15(a) of the Plan, this Agreement may be
amended by the Committee.

                  (c) Capitalized Terms; Headings; Pronouns; Governing Law.
Capitalized terms used and not otherwise defined herein are deemed to have the
same meanings as in the Plan. The descriptive headings of the respective
sections and subsections of this Agreement are inserted for convenience of
reference only and shall not be deemed to modify or construe the provisions
which follow them. Any use of any masculine pronoun shall include the feminine
and vice-versa and any use of a singular, the plural and vice-versa, as the
context and facts may require. The construction and interpretation of this
Agreement shall be governed in all respects by the laws of the State of
Delaware.

                  (d) Notices. All communications between the parties shall be
in writing and shall be deemed to have been duly given as of the date and time
of hand delivery or three days after mailing via

                                      -3-
<PAGE>

certified or registered mail, return receipt requested, proper postage prepaid
to the following or such other addresses of which the parties shall from time to
time notify one another.

         (1) If to the Company:             General Growth Properties, Inc.
                                            110 North Wacker Drive
                                            Chicago, Illinois  60606

         (2) If to the Director:            <<Employee_Name>>

                                            <<Employee_Address>>
                                            <<City, State  Zip>>

                  (e) Severability. Whenever possible, each provision of this
Agreement shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Agreement or the application
thereof to any party or circumstance shall be prohibited by or invalid under
applicable law, such provision shall be ineffective to the minimal extent of
such provision or the remaining provisions of this Agreement or the application
of such provision to other parties or circumstances.

                  (f) Counterpart Execution. This Agreement may be executed in
counterparts, each of which shall constitute an original and all of which, when
taken together, shall constitute the entire document.

                  IN WITNESS WHEREOF, the parties have executed or caused to be
executed this Agreement as of the date first above written.

                                                 GENERAL GROWTH PROPERTIES, INC.

                                                 -------------------------------
                                                            <<C E O>>

                                                 DIRECTOR

                                                 -------------------------------
                                                        <<Employee_Name>>

                                      -4-exv4w1

 

Exhibit 4.1

AmerUs Group Co.

AMENDED AND RESTATED CHAIRMAN’S BONUS PLAN

Section 1. General Purpose of Plan; Definitions

The name of this plan is the AmerUs Group Co. Chairman’s Bonus Plan (the “Plan”). The purpose of
the Plan is to compensate and reward certain agents of AmerUs Group Co.’s (“Company”)
insurer-subsidiaries for attaining and maintaining specified levels of life insurance production
and to encourage such agents to participate in the Company’s long-term success by correlating
bonuses with the performance of Company’s common stock.

The following Plan terms shall be defined as set forth below:

1.1 Award Date means February 15 in the calendar year following any Base Year or Vesting Year;
provided, that if February 15 in any calendar year is not a Business Day the Award Date for that
calendar year shall be the next succeeding Business Day.

1.2 Base Year means a calendar year for which an Insurer has published a Base Year Supplement
pursuant to which the Committee shall determine whether each Eligible Agent has qualified for a
grant under the Plan.

1.3 Base Year Supplement is the addendum to the Plan published for a specified Base Year by one or
more Insurers setting out, for each specified Eligible Agent Contract, its Bonus Schedule, Eligible
Products, Production Threshold, Vesting Years, and any other terms, provisions, or conditions
consistent with this Plan an Insurer may elect to include as to such Base Year and grants of Stock
Units in respect thereof. The provisions of the Insurers’ Base Year Supplements may vary from each
other and from year to year. Each Base Year Supplement shall be filed with the Plan and made a part
of it.

1.4 Bonus Rates are those percentages of Plan Participants’ Base Year Plan Production pursuant to
which grants of Stock Units hereunder will be made.

1.5 Bonus Schedule is a listing showing the Bonus Rate for each level of Plan Production under
specified Eligible Agent Contracts of an Insurer for a Base Year.

1.6 A Business Day is any day on which trading occurs on the New York Stock Exchange.

1.7 Change of Control means any of the following events: (a) any “Person” (as such term is defined
in Rule 13d-5 under the Securities Exchange Act of 1934, as amended, (the “Exchange Act”)) or group
(as such term is defined in Sections 3(a)(9) and 13(d)(3) of the Exchange Act) other than a
Subsidiary of the Company (for purposes of this definition only, “Subsidiary” shall mean each of
those Persons of which another Person, directly or indirectly through one or more Subsidiaries,
owns beneficially securities having more than 25% of the voting power in the election of directors
(or Persons fulfilling similar functions or duties) of the owned Person (without giving effect to
any contingent voting rights)) or any employee benefit plan (or any related trust) of the Company
or a Subsidiary of the Company, becomes the beneficial owner (as such term is defined in Rule 13d-3
of the Exchange Act) of (1) 25% or more of the common stock of the Company or (2) securities of the
Company that are entitled to vote generally in the election of directors of the Company (“Voting
Securities”) representing 25% or more of the combined voting power of all Voting Securities of the
Company; (b) the following individuals cease for any reason to constitute a majority of the number
of directors then serving: individuals who, on the date hereof, constitute the Board and any new
director (other than a director whose initial assumption of office is in connection with an actual
or threatened election contest, including but not limited to a consent solicitation, relating to
the election of directors of the Company) whose appointment or election by the Board or nomination
for election by the Company’s stockholders was approved or recommended by a vote of at least
two-thirds (2/3) of the directors then still in office who either were directors on the date hereof
or whose appointment, election or nomination for election was previously so approved or
recommended; or (c) there is consummated a merger, reorganization or consolidation involving the
Company or any direct or indirect Subsidiary of the Company and any other

 

 

corporation or other entity, other than a merger, reorganization or consolidation which results in
the common stock and Voting Securities of the Company outstanding immediately prior to such merger,
reorganization or consolidation continuing to represent (either by remaining outstanding or by
being converted into voting securities of the surviving entity or any parent thereof) at least 60%,
respectively, of the common stock and combined voting power of the Voting Securities of the Company
or such surviving entity or any parent thereof outstanding immediately after such merger,
reorganization or consolidation, or (d) the stockholders of the Company approve a plan of complete
liquidation or dissolution of the Company or there is consummated an agreement for the sale or
disposition by the Company of all or substantially all of the Company’s assets.

1.8 Committee means those individuals appointed by Company to administer this Plan.

1.9 Company means AmerUs Group Co., Des Moines, Iowa.

1.10 Deferred Amount means the amount of Stock Units granted under the Plan the cashing out of
which a Plan Participant elects to defer under the Plan as described in Section 4 of the Plan.

1.11 Disabled or Disability means, as context may require, unable or the inability to engage in
substantially all of the major duties of an Eligible Agent by reason of any medically determined
physical or mental impairment which is expected to last for a continuous period of not less than 12
months.

1.12 Eligible Agent means an agent of an Insurer who is a party to an Eligible Agent Contract and
who has not given a Vest at 65 Notice to the Committee pursuant to Section 3.6.

1.13 Eligible Agent Contract means an agent contract between an Insurer and an Eligible Agent which
is in effect during a Base Year and designated by such Insurer in a Base Year Supplement.

1.14 Eligible Products are those insurance products that are designated by an Insurer in a Base
Year Supplement.

1.15 Fair Market Value means, as of any Business Day, the closing price of a share of Stock on such
date on the New York Stock Exchange.

1.16 Final Vesting Date, for each grant of Stock Units, means the date of the earlier of the
following occurrences: (a) the Award Date occurring immediately after the last Vesting Year for
such grant; and (b) the date a Vest at 65 Notice given by a Plan Participant pursuant to Section
3.6.

1.17 Insurer means any insurer-subsidiary of Company. Insurers means Company’s
insurer-subsidiaries, collectively.

1.18 Plan means this AmerUs Group Co. Chairman’s Bonus Plan.

1.19 Plan Participant means an Eligible Agent who has qualified under the Plan for a grant of Stock
Units and who has a vested and/or unvested interest in one or more Stock Units granted under the
Plan, which interest has not been forfeited.

1.20 Plan Production means the production, measured as provided in the applicable Base Year
Supplement, of an Eligible Agent for sales of Eligible Products under an Eligible Agent Contract
for a Base Year and the Vesting Year that corresponds therewith.

1.21 Previously Deferred Amount means a Deferred Amount elected by a Plan Participant to be
re-deferred under the Plan, as described in Section 4 of the Plan.

1.22 Production Threshold means, for each Eligible Agent Contract, the Plan Production set by an
Insurer for a Base Year and the Vesting Year that corresponds therewith.

 

 

1.23 Re-Defer or Re-Deferral means the election of a Plan Participant to defer the receipt of all
of a Deferred Amount or all Re-Deferred Amounts, for an additional Deferral Period beginning on the
date on which such immediately preceding Deferral Period ends with such election being made at a
time set by the Committee which is prior to the end of such immediately preceding Deferral Period.

1.24 Re-Deferred Amount means an amount a Plan Participant has Re-Deferred in accordance with the
immediately preceding Sub Section 1.23 of the Plan.

1.25 Deferral Period means, with respect to a particular Stock Unit, the period determined by the
Committee during which such Stock Unit may not be cashed out, which period shall be no shorter than
the period beginning on the Final Vesting Date or the Plan Participant’s 65th birthday, as
applicable, and ending on the second anniversary of the Final Vesting Date or the Plan
Participant’s 65th birthday, as applicable. Deferral Period shall also mean any Deferral Period
relating to a Re-Deferred Amount, which period will begin on the date a Plan Participant Re-Defers
such Re-Deferred Amount.

1.26 Stock means the common stock of AmerUs Group Co.

1.27 Subsidiary means any corporation in an unbroken chain of corporations beginning with the
Company if each of the corporations (other than the last corporation in the unbroken chain) owns
stock possessing 50% or more of the total combined voting power of all classes in one of the other
corporations in the chain.

1.28 Stock Unit means a unit which, on the day such unit is cashed out, is equal in Fair Market
Value to a share of Stock.

1.29 Vest at 65 Notice shall have the meaning set forth in Section 3.6.

1.30 Vesting Years are those consecutive calendar years specified in a Base Year Supplement, which
shall be no less than three, immediately following any Base Year, subject to Section 3.5 hereof.

Section 2. Eligibility

2.1 Bonus Rate, Eligible Agent Contracts, Eligible Products, and Production Threshold are Plan
components which relate to the eligibility for and amount of any grant hereunder. Such components
may be established by each Insurer in its sole discretion for a Base Year in a Base Year
Supplement. Any Insurer may suspend new grants of Stock Units for any calendar year by not
publishing a Base Year Supplement therefor.

2.2 Each Eligible Agent whose applicable Plan Production meets or exceeds the Production Threshold
for his/her Eligible Agent Contract for a Base Year shall receive a grant under the Plan as of the
Award Date therefor.

Section 3. Operation

3.1 Grants of Stock Units. As of each Award Date, the Committee shall determine which Eligible
Agents have met the applicable Production Threshold under the Plan for the immediately preceding
Base Year and the number of Stock Units to be granted to each pursuant to the Base Year Supplement
for such Base Year. The number of Stock Units to be granted shall be calculated by (1) multiplying
each Eligible Agent’s applicable Plan Production for the Base Year by the applicable Bonus Rate and
(2) dividing the product thereof by the Fair Market Value on that Award Date. Fractions shall be
rounded to the nearest whole number. The Committee will notify each Eligible

Agent who receives Stock Units of the number thereof within 30 days of the Award Date.

3.2 Vesting. A Plan Participant’s interest in the Stock Units granted to him/her under the Plan for
any Base Year shall vest over the number of Vesting Years set out in the Base Year Supplement
therefor, such that 1/x (where x = the number of Vesting Years for that Base Year) of any grant
shall vest on the Award Date following each Vesting Year if the Plan Participant’s applicable Plan
Production shall have met or exceeded the applicable Production Threshold for that Vesting Year.
The Production Threshold for a Vesting Year is the applicable Production Threshold set by an
Insurer for that Base Year (e.g., an Insurer’s Production Threshold for Vesting Year 2003 is its

 

 

Production Threshold for Base Year 2003). Any interest which does not vest as provided in this
Section 3.2, Section 3.4 or Section 3.6 is forfeited.

3.3 Forfeiture of Interest in the Plan. A Plan Participant’s vested and unvested interests in any
Stock Units shall be forfeited upon any termination for cause of his/her Eligible Agent Contract.

3.4 Death of a Plan Participant. Any unvested interest in any Stock Units which is held by an
individual who is a Plan Participant at the time of his/her death shall be deemed vested as of the
date of the Plan Participant’s death.

3.5 Disability. For any Plan Participant who becomes Disabled for a period which does not exceed 5
calendar years, the vesting process will be suspended during the term of Disability. The calendar
year in which the Disability begins will not be deemed a Vesting Year unless the Plan Participant
meets the Production Threshold for that Vesting Year. Upon termination of the Disability, the Plan
Participant may resume vesting pursuant to the terms hereof. The calendar year in which the
Disability ends will not be deemed a Vesting Year unless the Plan Participant meets the Production
Threshold for that Vesting Year. Any continuous Disability which exceeds 5 calendar years will
result in forfeiture of the disabled Plan Participant’s unvested interest in any Stock Units.

3.6 Age 65. A Plan Participant may, on or after his/her 65th birthday, elect for his/her interest
in Stock Units to vest as of the date when he/she gives notice of such election to the Committee
(“Vest at 65 Notice”), if the Plan Participant has averaged at least $100,000 of Plan Production in
either the six consecutive Base Years preceding the calendar year in which the Plan Participant
gives such notice or the six consecutive Base Years ending on the date of such notice, whichever is
appropriate; provided, however, that no Plan Participant may give a Vest at 65 Notice prior to
January 1, 2010.

Section 4. Deferral Election

4.1 Each Plan Participant who is eligible to participate in the Plan may elect to defer receipt of
no less than one hundred percent (100%) of the amount he or she may receive, with respect to any
given award of Stock Units, following the Stock Units’ Final Vesting Date or the giving of a Vest
at 65 Notice, as applicable. Such election shall be made prior to the Final Vesting Date or prior
to the Plan Participant’s 65th birthday, as applicable, and no earlier or later than
such date as the Committee shall determine.

4.2 At the end of any Deferral Period applicable to a Deferred Amount, a Plan Participant may elect
to Re-Defer receipt of all of a Deferred Amount. Such election shall be made prior to the end of
the Deferral Period and no later than such date as the Committee shall determine.

Section 5. Stock Units

Stock Units granted under the Plan shall be subject to the following terms and conditions and shall
contain such additional terms and conditions, not inconsistent with the Plan, as the Committee in
its sole discretion may determine:

5.1 Deferral Period. No Stock Unit may be cashed out during its Deferral Period; provided ,
however, that in the event of the death or termination of a Plan Participant, the Stock Units of
such Plan Participant may be cashed out as described in Sections 5.1.2 and 5.1.3 of the Plan.

5.1.1 Cash Out. On the first Business Day following the Final Vesting Date or at the end of a
Deferral Period or Re-Deferral Period, as applicable, for particular Stock Units, such Stock Units
shall be cashed out by each Plan Participant, unless a Plan Participant elects to defer or Re-Defer
such cash out in accordance with Section 4 of the Plan. Upon cashing a Stock Unit, a Plan
Participant shall be entitled to receive an amount in cash equal in value to the Fair Market Value
of a share of Stock on the first Business Day following the Final Vesting Date, if such Stock Unit
has not been deferred by such Plan Participant, or on the first Business Day following the end of
the Deferral Period or Re-Deferral Period (the “Cash Out Amount”) for Stock Units that have been
deferred or Re-Deferred, as applicable. Payment of the Cash Out Amount to Plan Participants shall
be made in a lump sum within thirty (30) days of the Final Vesting Date or of the end of the
Deferral Period or Re-Deferral Period as applicable.

 

 

5.1.2 If a Plan Participant’s Eligible Agent Contract is terminated without cause prior to the
Final Vesting Date for any grant of Stock Units, the Committee will cash out, as of such Final
Vesting Date, any interests in such grant of Stock Units which are vested at the time of
termination. In such event, the Cash Out Amount will be calculated using the Fair Market Value on
the Business Day which is or next follows the applicable Final Vesting Date, subject to Section
4.2. If a Plan Participant’s Eligible Agent Contract is terminated without cause after the Final
Vesting Date as to any grant, the Committee will cash out any vested interests in such grant as of
the date of such termination.

5.1.3 Any interests in Stock Units which are vested at the time of death of a Plan Participant
shall be cashed out, promptly upon receipt by the Committee of notice of such death, and the Cash
Out Amount will be calculated using the Fair Market Value on the Business Day which is or next
follows the date of death of the Plan Participant. Any such Cash Out Amount shall be payable to a
beneficiary designated by the Plan Participant or, if none, to the estate of the Plan Participant.

5.1.4 The Committee may offset any Cash Out Amount against amounts owed to one or more Insurers by
the Plan Participant.

5.1.5 The Committee may, in its sole discretion, cash out any Plan Participant’s vested interest in
any Stock Units at any time.

5.2 Not a Security. A Stock Unit is not a stock option, warrant, or subscription right. Plan
Participants are not shareholders of the Company and have no ownership interest in Stock, no right
to acquire Stock, and no voting or dividend rights. A Plan Participant’s vested interest in his/her
Stock Units is not transferable other than by will or by laws of descent and distribution and,
during a Plan Participant’s lifetime, Stock Units may be cashed out only by the Plan Participant or
the Committee.

5.3 Changes in Stock. In the event of a change in the number of outstanding shares of Stock by
reason of any stock dividend, subdivision, reclassification, recapitalization, split, combination,
or exchange of shares; the number of Stock Units issued to each Plan Participant shall be
correspondingly adjusted to the extent that the Committee in its sole discretion determines is
necessary to equitably reflect such change.

5.4 Change of Control. Any Base Year Supplement may contain provisions governing the effect of a
Change of Control on the vesting of Stock Units granted in respect of that Base Year. Participants’
interests in Stock Units granted in respect of any Base Year for which no such provisions appear in
the Base Year Supplement will be deemed vested upon the occurrence of a Change of Control and will
be cashed out at the Fair Market Value on the last Business Day preceding such Change of Control
and paid to Participants as soon as practicable thereafter.

Section 6. Taxes

The Company may withhold from a Plan Participant’s vested interest in any Stock Units the amount of
any withholding or other tax required by law to be withheld or paid by the Company with respect to
such Stock Units, and the Company may defer cashing out any Stock Unit unless the Company is
indemnified to its satisfaction against liability for any tax. The amount of withholding or tax
payment shall be determined by the Committee and shall be payable by a Plan Participant at such
time as the Committee determines. A Plan Participant may satisfy his or her tax withholding
obligation by the payment of cash to the Company or in any other manner approved by the Committee.
The Committee shall be authorized to establish, in its sole discretion, such rules and procedures
relating to withholding methods as it deems necessary or appropriate.

Section 7. Administration

The Plan shall be administered by the Committee which at all times shall consist of at least three
but no more than five employees of Company and/or Insurers appointed by Company’s Chief Executive
Officer (“CEO”). The composition of the Committee may be changed at any time in the discretion of
the CEO. The Committee shall have the power and authority to grant Stock Units to Plan Participants
pursuant to the terms of the Plan. In addition, the

 

 

Committee shall have the power to take, direct, or delegate all actions which it determines are
necessary or appropriate to the administration of the Plan, including but not limited to the
following:

The Committee shall have sole and absolute discretion in the exercise of all its powers under the
Plan, including but not limited to those set out above, to the maximum extent permitted by law. Any
decision, determination, or other act by the Committee with respect to the Plan shall be final and
binding on all persons, including the Company, the Insurers, Eligible Agents, and Plan
Participants. In the event that any decision, determination, or other act of the Committee taken in
the course of its administration of the Plan is subject to judicial review, it is intended that the
court shall defer to the position of the Committee to the maximum extent permitted by applicable
law. No member of the Committee shall be liable to any person for any action taken or omitted in
connection with the interpretation or administration of this Plan. On the reasonable request of a
Plan Participant, the Committee shall provide such Plan Participant with a report on the status of
his or her account.

7.1 To determine in a manner consistent with the Plan the terms and conditions of all grants made
thereunder and to notify Plan Participants thereof;

7.2 To construe and interpret the provisions of the Plan and any agreements relating thereto and to
make, alter, and repeal rules and regulations governing the administration of the Plan;

7.3 To decide all questions of eligibility for participation in the Plan and to review and
determine the rights thereunder of any Plan Participant;

7.4 To obtain any needed information and to determine such facts as are necessary to the proper
administration of the Plan;

7.5 To construe any uncertain terms, correct any defect, supply any omission, and reconcile any
inconsistency which may inhere in the Plan in a manner that is consistent with the purposes
thereof;

7.6 To defer payment of any Cash Out Amount, following the termination of an Eligible Agent’s
Contract, for such period as it, in its sole discretion, may determine;

7.7 To review situations in which an Eligible Agent is a party to more than one Eligible Agent
Contract during a Base Year or Vesting Year and to aggregate and/or make pro rata or other
adjustments in its sole discretion to the Plan Production and/or Production Threshold applicable to
such Eligible Agent for any such year;

7.8 To determine, in its sole discretion, the existence of a Disability or of vesting rights under
Section 3.5 hereof; and

7.9 To do such other acts as are necessary or appropriate to the administration of the Plan in
accordance with its provisions and with any applicable statute or regulation.

Section 8. Amendments and Termination

The Company may amend, alter, or terminate the Plan at any time. Any termination will end grants
under the Plan for future Base Years. No amendment, alteration, or termination shall operate to
impair without the Plan Participant’s consent any vested interest in any Stock Units, any interest
in a grant which may be made for the Base Year in which termination occurs, or an interest in any
existing grant which may vest pursuant to the terms hereof. In the event of Plan termination or any
discontinuance by one or more Insurers, the Committee will publish a

Production Threshold for each Eligible Agent Contract for each succeeding Vesting Year, as
contemplated hereby, or if no Production Threshold is published, the Production Threshold shall be
that most recently published for the applicable Eligible Agent Contract. No term of this Plan shall
be construed to alter or limit any right of an Insurer under any Eligible Agent Contract.

Section 9. Unfunded Status of the Plan

 

 

The Plan is intended to constitute an “unfunded” plan for incentive and deferred compensation. With
respect to a Plan Participant’s vested interest in the Plan, nothing set forth in the Plan shall
give such Plan Participant any rights that are greater than those of a general creditor of the
Company. The Committee may authorize, in its sole discretion, the creation of trusts or other
arrangements to meet the obligations created under the Plan with respect to grants made hereunder,
provided that the existence of such trusts or other arrangements is consistent with the unfunded
status of the Plan.

Section 10. Stock Unit Certificates; Plan Accounting; Committee’s Decisions Final

No Stock Unit certificates will be issued under the Plan, and the accounting records of each Plan
Participant’s vested and/or unvested interests in the Plan shall be maintained by the Company under
the supervision of the Committee. The Committee’s decision concerning any question or dispute
regarding such records shall be final.

Section 11. Effective Date of the Plan

The Plan shall be effective on January 1, 2002.

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