The profitability component of the Program is based upon the consolidated GAAP return on assets (ROA) percentage as derived from the segment results reported in National Western Life Group, Inc.’s (NWLGI)’s Form 10-K. The ROA percentage is calculated as the sum of GAAP segment net operating earnings divided by the sum of the beginning of the year GAAP segment assets. Segment GAAP net operating earnings are after federal income taxes but exclude realized gains and losses on investments. As the GAAP results, including segment information, reported in the Form 10-K are audited by the Company’s independent auditors, the ROA calculation will be finalized at the time NWLGI’s Form 10-K for the year is filed with the SEC.

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The sales component of the Program is further subdivided between Life Sales and Annuity Sales. For 2023, the sales goals for each line of business of the Company are:

The expense component of the Program is based upon a ratio of actual cost center expenses to budgeted cost center expenses. For purposes of this measurement, expenses pertaining to Marketing cost centers are excluded.

Bonus percentages associated with the profitability component of the Program are not capped.

If Rollins Inc.’s pre-tax profit in ​ increases compared to ​, you will receive a percentage of your salary up to the maximum allowable percentage of salary under your bonus plan for this component based on a scale. A pro-rata calculation will be made for actual results that are between the levels on the scale to the tenths decimal place value.

Individual Goals Performance Component. In respect of the individual goals performance component, each Participant will be eligible to receive a payment equal to the result of applying the following formula to such Participant:

ESOP Component Diversification Withdrawals. Subject to [Section 7.4(d)], a Participant or Former Participant that has attained age 55 may at any time withdraw all or any part of the balance in his Company Matching Account and Profit Sharing Account; provided that any such withdrawal must be no less than $500. This [Section 7.4(c)] represents the distribution rules applicable to the former ESOP component of the Plan. Accordingly, for purpose of this [Section 7.4(c)], the terms “Company Matching Account” and “Profit Sharing Account” do not include legacy matching contribution accounts held under the prior versions of the Plan that were not attributable to the ESOP component of the Plan.

Costs and expenses of being a reporting company under the 1934 Securities and Exchange Act may be burdensome and prevent us from achieving profitability

The Participant’s obligations and restrictions set forth in [Exhibits A] and B to this Agreement are essential to the continued goodwill and profitability of the Company and any Related Company;