Exhibit 10.52
AMENDMENT FOUR
TO THE
TORCHMARK
CORPORATION
SUPPLEMENTARY RETIREMENT
PLAN
Pursuant to Section 12.1 of the
Torchmark Corporation Supplementary Retirement Plan as restated
effective January 1, 1992 (the “Plan”), Torchmark
Corporation (the “Company”) hereby amends the Plan,
effective January 1, 2008, as follows:
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1.
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Section 2.1 of the Plan is replaced in its
entirety and shall read as follows:
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2.1 Actuarial Equivalent
shall have the same meaning as in the Qualified Defined Benefit
Plan with respect to which the Retirement Income under the Plan is
determined, except as may be modified by
Section 4.6.
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2.
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New
Section 4.1(c) is added to the Plan and shall read as
follows:
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(c) No later than December 31,
2008, each Participant, other than a Dual Eligible Participant, may
elect one of the following dates for the commencement of Retirement
Income from this Plan: the January 8 following his separation
from service with the Employer; the January 1 following his
65th birthday; or the January 1 following the first, second,
third, fourth, fifth, sixth, seventh, eighth, ninth, tenth,
eleventh, twelfth, thirteenth, fourteenth, fifteenth, sixteenth,
seventeenth, eighteenth, nineteenth, or twentieth anniversary of
his separation from service with the Employer. If a Participant
fails to make a timely election, his Retirement Income shall
commence as determined under Section 4.1(a). Upon such date
and in accordance with Section 4.3, the Employer shall pay the
Participant’s Retirement Income from the Employer’s
general funds.
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3.
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New
Section 4.4(c) is added to the Plan and shall read as
follows:
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(c) In lieu of the form of payment
of Retirement Income described in Section 4.3, a Participant,
other than a Dual Eligible Participant, may elect to receive
Retirement Income in one of the following forms: a lump sum
distribution; annual installments of approximate equal value paid
over a minimum of two years and a maximum of ten years; or any
annuity form available under the Qualified Defined Benefit Plan
with respect to which the obligation to pay Retirement Income under
this Plan is determined. Such election must be made no later than
December 31, 2008. The amount of Retirement Income paid under
this Plan in such form shall be the Actuarial Equivalent of the
amount of
Retirement Income payable under this
Plan as a Single Life Annuity commencing on the date selected by
the Participant pursuant to Section 4.1(a) or
Section 4.1(c). The Participant shall furnish the
Administrator of this Plan a copy of his election of an optional
form for the payment of retirement benefits under this
Plan.
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4.
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New
Section 4.5(c) is added to the Plan and shall read as
follows:
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(c) In no event shall an election
under Section 4.1(c) and Section 4.4(c) be permitted nor
shall the default provisions under Section 4.1(a) and
Section 4.3 be applied if such election or default provision
would have the effect of changing the time or form of payment of
Retirement Income that the Participant would have othe
