Effective Date of the Plan. The Plan shall become effective on the Effective Date, subject to approval of the stockholders of the Company within twelve months after the Effective Date.

Effective Date. The Plan was originally effective upon its adoption by the Board of Directors of the Company on December 21, 2010 and was approved by stockholders at the Company’s 2011 Annual Meeting of Stockholders. Stockholders approved a prior amendment and restatement of the Plan at the Company’s 2015 Annual Meeting of Stockholders; the Compensation Committee of the Board and the Board have determined that stockholder approval of the amendment and restatement of the Plan as of March 21, 2017 is not required under Section 17 of the Plan.

Effective Date and Stockholder Approval. The Plan was originally adopted by National Western Life Insurance Company effective as of June 20, 2008. The Plan was then amended and restated effective as of June 17, 2011 after its approval by the Board effective as of such date and its approval by the Stockholders at the Annual Meeting of Stockholders held on such date. The Plan and all Awards were assumed by the Company effective October 1, 2015 in connection with the holding company reorganization of National Western Life Insurance Company and its subsidiaries. The Plan, as amended and restated herein, shall be effective as of December 14, 2022. Notwithstanding the foregoing, for purposes of establishing the ten (10)-year period during which the Plan shall remain in effect, the effective date with respect to the prior amendment and restatement dated, June 15, 2016 shall apply (i.e., after its approval by the Board effective as of such date and its approval by the Stockholders at the Annual Meeting of Stockholders held on such date). For purposes of this Plan, including this Section and Sections 14.1 and 14.2, any such Stockholder approval shall be considered obtained if such approval complies with # all applicable provisions of the articles of incorporation and bylaws of the Company and applicable state law prescribing the method and degree of stockholder approval required for the issuance of corporate stock or stock options (and if applicable state law does not prescribe such method and degree of stockholder approval, such approval must otherwise be obtained in accordance with Code section 422) and # any applicable listing requirements of Nasdaq to the extent the Company is subject to such requirements.

EFFECTIVENESS OF THE PLAN. Subject to the approval by the holders of the Common Stock at the 2002 Annual Meeting of Stockholders, the Plan shall be effective with respect to Plan Years beginning on or after January 1, 2002.

1.1Effective Date. This Plan shall become effective upon approval by the holders of a majority of the outstanding Shares at a duly authorized meeting of the Company’s stockholders.

Rights as Stockholders. Subject to Section 7.4 hereof, upon issuance of Restricted Stock, the Participant shall have, unless otherwise provided by the Administrator, all the rights of a stockholder with respect to said shares, subject to the restrictions in an applicable Program or in the applicable Award Agreement, including the right to receive all dividends and other distributions paid or made with respect to the shares; provided, however, that, in the sole discretion of the Administrator, any extraordinary distributions with respect to the shares shall be subject to the restrictions set forth in Section 7.3 hereof.

No Stockholders Rights. Except as otherwise provided herein or in an applicable Program or Award Agreement, a Participant shall have none of the rights of a stockholder with respect to Shares covered by any Award until the Participant becomes the record owner of such Shares.

Board Approval. The board of directors shall have been informed of the transactions contemplated under this Agreement and any other ancillary transactions and expressed no objection to these transactions.

Amendment Approval. The addition of the SPIV and NCI as parties to each of the Ancillary Agreements as set forth in Section 1 above has been approved by the Company and other parties to each of the Ancillary Agreements holding # at least 65% of the Company’s outstanding Series A-1 Preferred Stock and Series A Preferred Stock voting together as a class on an as converted to Common Stock basis; and # at least 67% of the Company’s outstanding Series B Preferred Stock.

Prior Approval. Tenant’s selected contractor shall be subject to Landlord’s prior written approval, which approval shall not be unreasonably withheld.