EXHIBIT 10(i)
February 19, 2002
Jefferson-Pilot Corporation
000 Xxxxx Xxxxxx Xxxxxx
Xxxxxxxxxx, XX 00000
Re: Commitment to extend Employment Agreement
As discussed with Messrs. Xxxxxx, Xxxxxxxxxx and Xxxxxxx, the members of the
Compensation Committee, and agreed, I hereby commit to an extension of my
current Employment Agreement, as amended, from December 31, 2002 to February 28,
2005 in accordance with these agreements by the Corporation:
1. My position in the Corporation will continue after 2002 as CEO and/or
Chairman or such other position as both parties shall mutually agree from
time to time, which mutually agreed change in position would not be a
circumstance described in Section 2(b)(iv)(B) or (D) of the Employment
Agreement.
2. My total compensation (base salary, annual bonus, LTIP, and annual option
grant) shall continue at 2001 value levels, adjusted as appropriate for
target performance and inflation.
This letter shall be in full force and effect from this date until replaced by a
mutually agreed upon formal revision to my existing Employment Agreement, and
supercedes other written understandings contemplating the extension of the
Employment Agreement to February 28, 2005.
Date: 2/19/02 By: /s/ Xxxxx X. Xxxxxxxxxxx
----------------------------- -----------------------------------
Xxxxx X. Xxxxxxxxxxx
Approved by Compensation Committee:
/s/ X. X. Xxxxxx
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X. X. Xxxxxx, Chairman
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