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UNM > SEC Filings for UNM > Form 8-K on 24-Sep-2009All Recent SEC Filings

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Form 8-K for UNUM GROUP


24-Sep-2009

Change in Directors or Principal Officers


Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On September 21, 2009, the Human Capital Committee of Unum Group (the "Company"), a Delaware corporation, approved an agreement by and between Robert C. Greving, Executive Vice President and Chief Actuary and former Chief Financial Officer of the Company, and the Company to be effective as of the date of his retirement from the Company (September 30, 2009). Pursuant to the agreement Mr. Greving will (a) provide general consulting services to the Company in respect of the business of the Company and (b) make himself reasonably available to the Company to consult on specific projects for the Company, in each case, as may be reasonably requested from time to time by the Company. The term of this engagement shall be one year beginning on the date of retirement (the "Consulting Period").

For the term of the agreement, Mr. Greving will be subject to a covenant not to directly or indirectly compete with the Company, without the prior written consent of the Company.

In consideration of the foregoing, the Company will pay Mr. Greving (i) $200,000 on March 30, 2010, (ii) $100,000 on June 30, 2010, and (iii) $100,000 on September 30, 2010 (for a total of $400,000 for the Consulting Period), in each case, so long as Mr. Greving continues to be available to provide the services on the applicable payment date. The Company will reimburse Mr. Greving pursuant to the Company's usual reimbursement policies for any reasonable business expenses incurred by Mr. Greving in connection with the performance of the consulting services.


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