Re: Forbearance Agreement/Dividend ReductionForbearance Agreement • August 6th, 2009 • FBL Financial Group Inc • Life insurance
As you are aware, pursuant to paragraph 7(d) of the royalty agreement between the Iowa Farm Bureau Federation (“IFBF”) and the insurance companies that are managed by FBL, Farm Bureau Mutual Insurance Company and Farm Bureau Life Insurance Company (hereinafter “Insurance Companies”), a reduction in the quarterly dividend by FBL below $.10 per share creates a power of termination of the agreement on the part of the IFBF.
