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AFLAC INCORPORATED
2017 PROXY STATEMENT
29
This Compensation Discussion and Analysis (“CD&A”) provides a detailed description of our
executive compensation philosophy and programs, the decisions made by the Compensation
Committee related to those programs, and the factors considered when making those
decisions. This CD&A focuses on our NEOs for 2016, who were:
Named Executive Officer
Title
Daniel P. Amos
Chairman & Chief Executive Officer
Frederick J. Crawford
Executive Vice President, Chief Financial Officer
Kriss Cloninger III
President
Paul S. Amos II
President, Aflac
Eric M. Kirsch
Executive Vice President, Global Chief Investment Officer, Aflac
Pay-for-Performance Compensation Philosophy
Our compensation programs are designed to ensure that a substantial amount of executive
pay is directly linked to the Company’s results. We believe this is the most effective method
for creating shareholder value, and that it has played a significant role in making the Company
an industry leader. Importantly, performance-based elements of our compensation programs
apply to all levels of Company management—not just the executive officers. In fact, pay-for-
performance components permeate compensation at every employee level. As a result, we are
able to attract, retain, motivate and reward talented individuals who have the necessary skills
to manage our growing global business on a day-to-day basis and to position the Company for
success in the future.
Our executive compensation program is designed to drive shareholder value via three
critical features:
1
A pay-for-performance
philosophy and
compensation
program structure that
directly motivates our
executives to achieve
our annual and long-
term strategic and
operational goals
2
Compensation
elements that help us
attract and retain high-
caliber talent to lead
the Company
3
“Best practice”
compensation
governance policies,
such as stock
ownership guidelines,
clawback provisions,
and no change-in-
control excise tax
gross-ups
Compensation Discussion & Analysis
Executive Summary