SEC Contract Filing

Filing Date: 2017-05-09

Document Content:
<DOCUMENT>
<TYPE>EX-10.3(B)
<SEQUENCE>4
<FILENAME>v465344_ex10-3b.htm
<DESCRIPTION>EXHIBIT 10.3(B)
<TEXT>
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 <TITLE></TITLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 10.3(b)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>HORACE MANN EDUCATORS CORPORATION</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">2010 Comprehensive
Executive Compensation Plan</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">(as amended and restated
effective May 20, 2015)<BR>
(Non-Section 16)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Non-qualified Stock Option Agreement
- Employee Grantee</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Non-qualified
Stock Option Agreement, consisting of this designations page and the Non-qualified Stock Option Terms and Conditions attached hereto
or delivered concurrently herewith, (the &ldquo;Agreement&rdquo;) evidences the grant by HORACE MANN EDUCATORS CORPORATION, a Delaware
corporation (the &ldquo;Company&rdquo;), to you of a non-qualified stock option (the &ldquo;Option&rdquo;) to purchase shares of
Common Stock, par value $0.001 per share if the Company under the 2010 Comprehensive Executive Compensation Plan (as amended and
restated effective May 20, 2015 and as further amended) (the &ldquo;Plan&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><U>Designations:</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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 <TD STYLE="width: 30%"><FONT STYLE="font-size: 10pt"><I>Employee Grantee:</I></FONT></TD>
 <TD STYLE="width: 70%; padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 10pt"><I>&laquo;First_Name&raquo; &laquo;Last_Name&raquo;</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
 <TD>&nbsp;</TD>
 <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
 <TD><FONT STYLE="font-size: 10pt"><I>Grant Date:&nbsp;&nbsp;</I></FONT></TD>
 <TD STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 10pt"><I>March 7, 2017</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Number of shares of Stock for which the Option is granted:
&laquo;SO_text&raquo;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
 <TD STYLE="width: 30%"><FONT STYLE="font-size: 10pt"><I>Exercise Price:</I></FONT></TD>
 <TD STYLE="width: 70%; padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 10pt"><I>$ 41.95 </I>per share</FONT></TD></TR>
<TR STYLE="vertical-align: top">
 <TD>&nbsp;</TD>
 <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
 <TD><FONT STYLE="font-size: 10pt"><I>Expiration Date:</I></FONT></TD>
 <TD STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 10pt"><I>March 7, 2027 </I>provided you remain continuously employed by the Company, except as otherwise provided herein.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
 <TD>&nbsp;</TD>
 <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
 <TD><FONT STYLE="font-size: 10pt"><I>Vesting Schedule:</I></FONT></TD>
 <TD STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 10pt">(Numbers shall be rounded up or down to the nearest whole share.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -1.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 75%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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 <TD STYLE="border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B><I>The Option shall vest and become nonforfeitable on the following Vesting Dates:</I></B></FONT></TD>
 <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B><I>%age</I></B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B><I>becoming</I></B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B><I>vested</I></B></FONT></TD>
 <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B><I>Cumulative</I></B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B><I>%age&nbsp;vested</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
 <TD STYLE="border-ri