Director Qualification Standards

The Board of Directors has adopted the following Director Qualification Standards:

Torchmark Corporation Qualifications of Directors

In addition to any other factors described in Torchmark’s Corporate Governance Guidelines, the Governance and Nominating Committee and the Board of Directors should at a minimum consider the following factors in the nomination or re-nomination of members of the Board:

  1. Integrity: Directors should have integrity and be of personal and professional ethical character.
  2. Absence of Conflicts of Interest: Directors should not have any interests that would materially impair his or her ability to exercise independent judgment or otherwise discharge the fiduciary duties owed by a director to the Company and its shareholders.
  3. Achievement/Experience: Directors should have experience in management or at the policy-making level in one or more fields of business, government, education, technology, science, or community/civic affairs.
  4. Business Understanding: Directors should have a general appreciation regarding major issues facing public companies of size and operational scope similar to that of the Company, including business strategy, business environment, corporate finance, corporate governance and board operations.
  5. Oversight: Directors should have the ability to exercise sound business judgment.
  6. Available Time: Directors should have sufficient time to effectively carry out their duties, including preparing for and attending Board meetings, meetings of the Board committees on which they serve and the Annual Meeting of Shareholders, after taking into consideration their other business and professional commitments.
  7. Age: Directors must comply with the Board established retirement age limits for directors.
  8. Independence: Directors should be independent in their thought and judgment and be committed to enhancing long-term value for all shareholders. A majority of the Board must be independent directors, as defined by the New York Stock Exchange.
  9. Diversity: Directors should be selected so that the Board reflects appropriate diversity.
  10. Length of Service: The length of service of each individual director should be considered with respect to his or her anticipated contributions to the overall effectiveness of the Board.

Under exceptional and limited circumstances, the Committee and Board may approve the candidacy of a director nominee who may not necessarily satisfy all of these criteria, if they believe the service of that nominee is in the best interests of the Company and its shareholders.