Conseco Inc – ‘10-K’ for 12/31/93 – EX-10.8.6

As of:  Thursday, 3/31/94   ·   For:  12/31/93   ·   Accession #:  719241-94-19   ·   File #:  1-09250

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Conseco, Inc. 1993 Form 10-K                         114    572K 
 4: EX-10.18.20  Exhibit 10.18.20 to Conseco, Inc. 1993 Form 10-K      9     50K 
 5: EX-10.18.21  Exhibit 10.18.21 to Conseco, Inc. 1993 Form 10-K     13     64K 
 6: EX-10.18.22  Exhibit 10.18.22 to Conseco, Inc. 1993 Form 10-K     13     59K 
 7: EX-10.18.23  Exhibit 10.18.23 to Conseco, Inc. 1993 Form 10-K      5     30K 
 8: EX-10.18.24  Exhibit 10.18.24 to Conseco, Inc. 1993 Form 10-K      7     29K 
 9: EX-10.18.25  Exhibit 10.18.25 to the Conseco, Inc. 1993 Form       9     50K 
                          10-K                                                   
10: EX-10.23.1  Exhibit 10.23.1 to Conseco, Inc. 1993 Form 10-K       10     31K 
11: EX-10.24.1  Exhibit 10.24.1 Conseco, Inc. 1993 Form 10-K           8     31K 
12: EX-10.25    Exhibit 10.25 to Conseco, Inc. 1993 Form 10-K         18     89K 
13: EX-10.32    Exhibit 10.32 to Conseco, Inc. 1993 Form 10-K         35    146K 
14: EX-10.33.1  Exhibit 10.33.1 to Conseco, Inc. 1993 Form 10-K       30    162K 
15: EX-10.33.2  Exhibit 10.33.2 to Conseco, Inc. 1993 Form 10-K       27    145K 
16: EX-10.34    Exhibit 10-34 to Conseco, Inc. 1993 Form 10-K         18     84K 
 2: EX-10.8.5   Exhibit 10.8.5 to Conseco, Inc. 1993 Form 10-K         2±    10K 
 3: EX-10.8.6   Exhibit 10.8.6 to Conseco, Inc. 1993 Form 10-K         2±    12K 
17: EX-11.1     Exhibit 11.1 to Conseco, Inc. 1993 Form 10-K           2±    12K 
18: EX-11.2     Exhibit 11.2 to Conseco, Inc. 1993 Form 10-K           1     11K 
19: EX-12.1     Exhibit 12.1 to Conseco, Inc. 1993 Form 10-K           2±    14K 
20: EX-12.2     Exhibit 12.2 to Conseco, Inc. 1993 Form 10-K           2±    14K 
21: EX-21       Exhibit 21 to Conseco, Inc. 1993 Form 10-K             1      9K 
22: EX-23       Exhibit 23 to Conseco, Inc. 1993 Form 10-K             1      9K 

EX-10.8.6   —   Exhibit 10.8.6 to Conseco, Inc. 1993 Form 10-K

EX-10.8.6
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CONSECO PERFORMANCE-BASED COMPENSATION BONUS PLAN               
FOR EXECUTIVE VICE PRESIDENTS               

Each of the Executive Vice Presidents shall receive annually a                  
performance-based cash bonus.  The bonus shall be determined by                 
multiplying the applicable percentages (defined below) times the                
Company's consolidated pre-tax net profits for the year.  Such                  
percentage is to be based on the following table.                               

                                                        [Enlarge/Download Table]

If the ratio of the average return on         Then the current year's performance-based                                             
equity ("ROE")(1) of Conseco to the           bonus for each such executive shall be the                                            
average ROE of all publicly-held life         sum of the following percentages multiplied                                           
and health insurance companies is             times the designated portion of the consol-                                           
at least the following percentage             idated pre-tax profits of the current year                                            
--------------------------------------        -------------------------------------------                                           
                                              Non-Recurring                   Remaining                                             
                                                Portion(2)                     Portion                                              
                                              --------------                  ----------                                            
                                                                                                                                    
            80%                                   0.0%                           0.0%                                               
           100%                                   1.0%                            .1%                                               
           120%                                   1.0%                            .2%                                               
           140%                                   1.0%                            .4%                                               
           160%                                   1.0%                            .6%                                               
           180%                                   1.0%                            .8%                                               
           200%                                   1.0%                           1.0%                                               

Upon the recommendation of Conseco's Chief Executive Officer, the Compensation Committee may reduce the amount of the bonus that    
would have been payable under the preceding formula to any of the affected executives.  Such reduction shall be at the sole discre- 
tion of the Compensation Committee after taking into account such subjective factors or other matters as they believe are appropri- 
ate in the best interests of Conseco and its shareholders.                                                                          

The Compensation Committee shall have the sole authority to administer the Plan and make all decisions to interpret and apply its   
provisions.  Written interpretations not inconsistent with the terms hereof may be issued from time to time by the Compensation     
Committee as guidance for interpreting and applying the Plan's provisions.                                                          

<FN>                                                                                                                                
1.   Average ROE for Conseco and for all companies is to be calculated for the five years prior to the current year as reported     
by Firemark Insurance Perspectives or comparable independent publication.  No year prior to 1993 shall be included in computing such
average ROE; therefore, until five years have been completed after 1993, the ratio of the average ROE for Conseco to the average    
ROE for all companies shall be computed as follows:                                                                                 

 -     For 1994 and 1995, the ratio shall be deemed to be 200%                                                                      
 -     For 1996, 1997 and 1998, the ratio shall be computed using results for                                                       
       two, three or four years, respectively, commencing with the results of                                                       
       the year 1994.                                                                                                               

2.  For purposes of this calculation, the non-recurring portion includes the total of gains from sale of subsidiaries or affiliates;
sale of investments made or monitored by the Conseco Private Capital Group; 20% carried interest earned on acquisition partnership  
investments; and acquisition; arrangement and investment banking fees earned from acquisition partnerships.