Document:

Non-Employee Director Compensation Summary

 Exhibit 10.68 
  
 Upon recommendation of the Compensation Committee, the Board of Directors at a meeting held on March 15, 2005, voted to adjust the
compensation for non-management directors, as set forth below. Such changes are to be effective for the period beginning immediately following the 2005 Annual Meeting of Shareholders (scheduled for May 17, 2005) until the 2006 Annual Meeting of
Shareholders. Directors who are employees of Allmerica Financial Corporation (the “Company”) or its subsidiaries receive no additional compensation for their services as members of the Board. 
  
 Annual Retainer 
  
 For the period from the 2004 Annual Meeting of Shareholders until the 2005 Annual Meeting,
directors received an annual retainer consisting of a grant of 1,500 shares of the Company’s Common Stock and a cash payment of $20,245, which, based on the date of grant of shares of Common Stock, was intended to equate to an annual retainer
of approximately $73,000. 
  
 The annual retainer for 2005 is again intended to
approximate $73,000; however, it is intended that the retainer will be paid 50% in shares of Common Stock based on the stock price on the date of grant (or as close as practicable to 50% without the issuance of fractional shares) and the balance to
be paid in cash. Such shares will be granted pursuant to the Non-Employee Director Stock Ownership Plan. 
  
 Board Meeting Fees 
  
 Fees for attendance at meetings of the Board of Directors will be increased from $1,500 to $2,200 per meeting. 
  
 Committee Chair Retainers 
  
 The annual retainer for chairing each of the Audit Committee, the Compensation Committee and
the Nominating and Corporate Governance Committee was changed from $5,000 for each committee, to $10,000 for chairing the Audit Committee and $7,500 for chairing each of the Compensation Committee and the Nominating and Corporate Governance
Committee. 
  
 Committee Meeting Fees

  
 Fees for attendance at meetings of the Audit Committee, Compensation
Committee and the Nominating and Corporate Governance Committee were changed from $1,000 to $1,500 per meeting. 
  
 No change was made to the policy which provides that directors who are unable to attend, in person, meetings of the Board or any committee of which they are a member, but
who fully participate in any substantive meeting telephonically, or directors who participate in scheduled substantive telephone meetings, are paid a fee equal to one-half the regular Board or committee fee, as applicable. 
  
 Directors may defer receipt of their cash and stock compensation. Deferred cash amounts are
accrued in a memorandum account that is credited with interest derived from the so-called General Agreement on Tariffs and Trade (GATT) Rate (5.12 % in 2004; 4.89 % in 2005). At the election of each director, cash deferrals of meeting fees and the
retainer may be converted to Common Stock of the Company at the time of deferral, with such stock issued pursuant to the Amended and Restated Non-Employee Director Stock Ownership Plan.Second Amendment to the Restated and Amended Zions Bancorporation Pension Plan

 EXHIBIT 10.1 
  
 SECOND AMENDMENT 
 TO THE

 RESTATED AND AMENDED 
 ZIONS BANCORPORATION PENSION PLAN 
  
 This Second
Amendment to the restated and amended Zions Bancorporation Pension Plan (the “Plan”) is made and entered into this 4th day of September, 2003, by Zions Bancorporation, hereinafter referred to as the “Employer.” 
  
 W I T N E S S E T H: 

 
 WHEREAS, the Employer has heretofore entered into the Plan effective
January 1, 1968, which Plan has been most recently restated in its entirety effective January 1, 2001, and 
  
 WHEREAS, the Employer has reserved the right to amend the Plan in whole or in part, and 
  
 WHEREAS, the Employer now desires to amend the Plan for the purpose of maintaining the qualified status of the Plan pursuant
to a favorable determination letter issued by the Internal Revenue Service on February 20, 2003, which letter conditioned acceptance of certain amendments submitted to the Internal Revenue Service by counsel for the Employer on an approval basis.

  
 NOW THEREFORE, in consideration of the foregoing premises and
mutual covenants herein contained, the Employer adopts the following amendments to the Plan as follows (amended language is marked in bold italics): 
  
 1.    Section 1.4(a) is amended to read as follows: 
  

	 	1.4	Actuarial Equivalence or Actuarial Equivalent 

  

 Actuarial Equivalence or Actuarial Equivalent means equality in value of the aggregate amounts expected
to be received under different forms of payment computed on the following bases: 
  

	 	(a)	For purposes of determining (i) the monthly annuity benefits under Sections 4.2, 4.5, 5.3(b) and 8.2, and (ii) the value of lump sum payments under Sections 5.7(d) 5.8 and
5.12(b), Actuarial Equivalence will be calculated in accordance with Appendix II. 

  
 2.    Section 1.20 is amended to read as follows: 
  

	 	1.20	Eligible Employee 

  
 Subject to the exclusions stated in the following paragraph, Eligible Employee means an Employee of the Company. 
  
 “Eligible Employee” does not include: (a) an Employee of an
Affiliate or Subsidiary that is not a Company that has adopted the Plan and is participating in the Plan; (b) an Employee who is covered under a collective bargaining agreement where retirement benefits were the subject of good faith bargaining
which does not provide for retirement benefits under this Plan; (c) a person who performs services for a Company but is compensated for such services by means of the payroll of a third party employee leasing organization; (d) any “leased
employee,” or (e) a person who is not treated by the Participating Company as an employee for payroll tax purposes, whether or not such person is subsequently determined by a government agency, by the conclusion or settlement of threatened or
pending litigation, or otherwise to be (or to have been) a common law employee of the Company. “Leased employee” shall mean, effective January 1, 1997, any person who, pursuant to an agreement between the Company and any other person
or organization (leasing organization), has performed services for the Company (or for any Affiliate or Subsidiary of the Company) and such services are performed under the primary direction or control of the Company, Affiliate or
Subsidiary. In the event of any determination by any court, governmental agency or other party that a person excluded under clause “(c),” “(d)” or “(e)” should be treated as a common-law employee of the Company
for payroll tax purposes, the individual shall not be treated as an Eligible Employee unless and until the date on which the individual is first recharacterized as an Employee for payroll tax purposes on the payroll system of the Company, and not as
of any retroactive effective date of such recharacterization. 
  
 3.    Section 1.50 is amended add a new sub-section (j) to read as follows: 
  

 2 

	 	(j)	Effective January 1, 1997, any individual who was a leased employee (as defined in Section 1.20) and who subsequently becomes an Eligible Employee shall be credited with all
years of service as a leased employee for purposes of determining Years of Vesting Service. 

  
 4.    Section 2.1(c) is amended to read as follows: 
  

	 	(c)	Effective April 1, 1997, in the case of an Employee who has a period of employment as an Employee or leased employee (as defined in Section 1.20) of an Affiliate or
Subsidiary during which he or she is not an Eligible Employee (either because of the individual’s employment status or because the employing company is not a participating Company), which is followed (without a Break in Service) by a transition
to Eligible Employee status (either because of a change of individual employment status or because the employing company has become a participating Company in this Plan), then the Employee’s Hours of Service prior to becoming an Eligible
Employee shall be credited toward meeting the eligibility service requirement of subsection (b) above, and the Eligible Employee will become an Active Participant on the first day of the month coinciding with or next following the later of the dates
referred to in clause (1) and (2) of subsection (b) above. 

  
 5.    This Second Amendment shall be effective for Plan Years commencing on or after January 1, 1997, unless another effective date is specified herein. 
  
 6.    In all other respects the Plan is ratified and
approved. 
  
 IN WITNESS WHEREOF, the Zions Bancorporation
Benefits Committee, for and on behalf of the Employer, has caused this Second Amendment to the Plan to be duly executed as of the date and year first above written. 
  

			
	 ZIONS BANCORPORATION
 BENEFITS COMMITTEE

		
	 By:
	 	 /S/ DIANA M.
ANDERSEN        

	 	 	 Diana M. Andersen
 Vice President

  

 3Third Amendment to the Zions Bancorporation Pension Plan

 EXHIBIT 10.2 
  
 THIRD AMENDMENT 
 TO THE

 ZIONS BANCORPORATION PENSION PLAN 
  
 This Third Amendment to the restated and amended Zions Bancorporation Pension Plan (the “Plan”) is made and approved this 4th day of September,
2003, by the Zions Bancorporation Benefits Committee (“Benefits Committee”), for and on behalf of Zions Bancorporation, hereinafter referred to as the “Employer.” 
  
 W I T N E S S E T H: 
  
 WHEREAS, the Employer has heretofore entered into the Plan, which Plan has
been most recently restated and amended in its entirety effective January 1, 2001, and 
  
 WHEREAS, the Employer has reserved the right to amend the Plan in whole or in part, and 
  
 WHEREAS, the Zions Bancorporation Benefits Committee (“Committee”), as previously authorized by the Board of Directors, has made certain
amendments to the plan for the purpose of ceasing generally all benefit accruals under the Plan; and 
  
 WHEREAS, the Committee has been further authorized to make amendments to the Plan for the purpose of continuing benefit accruals for certain employees as
approved by the Board of Directors; 
  
 NOW THEREFORE, in
consideration of the foregoing premises the Benefits Committee, for and on behalf of the Employer adopts the following amendments to the Plan: 
  
 1. Section 3.2 is amended by adding a new sub-section (g) at the end thereof to read as follows: 
  

	 	(g)	Earnings Credits for Grandfather Participants 

  
 As of the last day of each Plan Year the Cash Balance Account of each Grandfather Participant (as defined in Section 4.8(b)) who is employed on that
date and who has completed at least 1,000 Hours of Service during the Plan Year will be credited with an amount equal to the product obtained by multiplying the Grandfather Participant’s Earnings for the Plan Year by a percentage from the
following table, which percentage is based upon the Grandfather Participant’s age as of the last day of the Plan Year: 

				
	 Attained Age

	  	Percentage

	 
	 At least 55 years, but less than 60 years
	  	4.00	%
	 60 or more years
	  	6.25	%

  
 2. Section 3.3(a) is
amended by adding a new sentence at the end thereof to read as follows: 
  
 3.3(a) Notwithstanding the First Amendment to the Zions Bancorporation Pension Plan dated December 31, 2002, and the provisions of Section 3.2(f) as added by the First Amendment, Interest Credits shall continue to
accrue as provided in Section 3.3 for each Participant who has a Cash Balance Account in the Plan as of January 1, 2003. 
  
 3. Section 4.1 is amended by adding a new sub-section (e) to read as follows: 
  
 (e) Notwithstanding the First Amendment to the Zions Bancorporation Pension Plan dated December 31, 2002,
and the provisions of Section 3.2(f) as added by the First Amendment, the account balance of a Participant who was a Participant in the Plan on December 31, 2002, and which is used to calculate the Cash Balance Account shall never be smaller than
the account balance as of December 31, 2002. If greater than the foregoing, the Accrued Benefit calculated under Section 2.3 of Appendix III for a Participant who is a Great Grandfather Participant shall never be less than the Accrued Benefit
determined under that Section for the Participant on December 31, 2002. 
  
 4. Section 4.4 is amended by adding a new sentence at the end thereof to read as follows: 
  
 An Active Participant who satisfies the requirements of the first sentence of this Section 4.4 on December 31, 2002, (a “Great
Grandfather Participant”) shall continue effective January 1, 2003, to accrue all benefits which were available to such Great Grandfather Participant under this Plan as of December 31, 2002, and the provisions of Section 3.2(f) as added by the
First Amendment dated December 31, 2002, shall not apply to such Great Grandfather Participant. 
  
 5. Article 4 is amended by adding a new Section 4.8 at the end thereof to read as follows: 
  
 4.8 Continuing Accrual of Benefits for Grandfather Participants 
  
 (a) Notwithstanding the First Amendment to the Zions
Bancorporation Pension Plan dated December 31, 2002, and the provisions of Section 3.2(f) as added by the First Amendment, a Participant who was an Active Participant in the Plan on December 31, 2002, and who satisfies the definition of
“Grandfather Participant” in 4.8(b) on that date shall continue to 

 
accrue all benefits available to such Grandfather Participant under this Plan as of December 31, 2002, except that Earnings Credits for the Grandfather
Participant’s Cash Balance Account after December 31, 2002, shall accrue and be determined by reference to Section 3.2(g) and not Section 3.2(a). 
  

(b) “Grandfather Participant” shall mean for purposes of Section 4.8(a) an Active Participant on December 31, 2002, who:

  
 (1) had attained at least age fifty-five (55), and

  
 (2) was credited with at least ten (10) Years of
Vesting Service. 
  
 6. Section 2.3 in Appendix III is amended
to read as follows: 
  
 2.3 Grandfathered
Minimum Accrued Benefit. The minimum grandfathered accrued benefit is the amount determined under Section 2.1 of this Appendix; provided, however, that the minimum grandfathered accrued benefit shall take into account any Credited Service and
Earnings which may be accrued or earned by an Active Participant until the earlier of the Participant’s Termination of Employment or the date of any termination of, or cessation of accruals under, the Plan. 
  
 7. This Amendment shall be effective January 1, 2003, and for all Plan Years
commencing thereafter. 
  
 8. In all other respects the Plan is
ratified and approved. 
  
 IN WITNESS WHEREOF, the Benefits
Committee has caused this Amendment to the Plan to be duly executed as of the date and year first above written. 
  

			
	ZIONS BANCORPORATION BENEFITS COMMITTEE
		
	By:	 	/S/ MERRILL WALL        
	 	 	 Merrill Wall
 Corporate Human Resources
 Executive Vice President

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