RELIANCE STANDARD LIFE INSURANCE COMPANY
1998 SENIOR MANAGEMENT INCENTIVE PLAN
FOR THE TWELVE MONTH PERIOD
JANUARY 1, 1998 THROUGH DECEMBER 31, 1998
To promote profitable growth of Reliance Standard Life Insurance Company ("RSL") by providing a financial
incentive plan that will compensate its eligible employees for the achievement of results recommended by the
Corporate Compensation Committee (the "Committee") of the Board of Directors of Reliance Standard Life
Insurance Company (the "Board") and ratified by the Board. Thus, RSL will attract and retain employees of the
highest caliber who will demonstrate outstanding performance and will assist in the achievement of overall
The Reliance Standard Life Senior Management Incentive Plan (the "Plan") will be supervised by the Committee.
The Committee shall have the authority to recommend procedures for the administration of the Plan to the Board
for approval and to take any and all action necessary to implement such procedures. Any references in this
document to the Board shall include any committee designated by the Board from time to time to exercise
authority with respect to the Plan, including the Executive Committee of the Board.
III INCENTIVE PARTICIPATION
Eligibility to participate in the Plan is restricted to the positions outlined in Exhibit B. The approved percentages
relate to the employees' December 31, 1997 base salary. Changes in incentive rates or participants shall be
approved by the Committee and the Board.
Each participant will be notified of his or her participation in the Plan, either in terms of the applicable percentage
participation or dollar amount, if the specified results are achieved.
Targets for Operating Results and Personal Objectives, as well as participants and payout schedules, must be
submitted to the Committee and approved by the Board. The bonus paid is allocated to the achievement of the
established objectives as outlined in E