FINANCIAL INDUSTRIES CORP
EXHIBIT 10.68
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<font size="2">Exhibit 10.68</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.1in; text-indent:-0.1in;text-align:center;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.1in; text-indent:-0.1in;text-align:center;'>
<B><font SIZE=2>RESOLUTION TO TERMINATE THE INTERCONTINENTAL LIFE CORPORATION</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.1in; text-indent:-0.1in;text-align:center;'><b><font size=2> DEFINED CONTRIBUTION SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><B><font SIZE=2>WHEREAS</font></B><font size=2>, InterContinental Life Corporation, the "Company", established the InterContinental Life Corporation Defined Contribution Supplemental Executive Retirement Plan, the "DC SERP", effective January 1, 2005 for active plan participants who were (i) listed below and (ii) were Highly Compensated Employees;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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<table border="0" cellspacing=0 cellpadding=0 width="577" style='margin-left:.4pt;border-collapse:collapse'>
    <tr style='height:41.6pt'>
        <td width="286" valign=top style='border:solid black 1.0pt; height:41.6pt'>
            <p style='margin-left:51.35pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Name</font></p> </td>
        <td width="291" valign=top style='border:solid black 1.0pt; border-left:none;height:41.6pt'>
            <p style='margin-left:23.15pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>2005 Contribution Rate (Percentage of 2005 Compensation)</font></p> </td> </tr>
    <tr style='height:22.1pt'>
        <td width="286" valign=top style='border:solid black 1.0pt; border-top:none;height:22.1pt'>
            <p style='margin-left:.25pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Davis, Cynthia Hall</font></p> </td>
        <td width="291" valign=top style='border-top:none;border-left: none;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;  height:22.1pt'>
            <p style='margin-left:.95in;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>0.00%</font></p> </td> </tr>
    <tr style='height:14.9pt'>
        <td width="286" valign=top style='border:solid black 1.0pt; border-top:none;height:14.9pt'>
            <p style='margin-left:.25pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Kasch, Vincent Lee</font></p> </td>
        <td width="291" valign=top style='border-top:none;border-left: none;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;  height:14.9pt'>
            <p style='margin-left:.95in;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>0.25%</font></p> </td> </tr>
    <tr style='height:17.75pt'>
        <td width="286" valign=top style='border:solid black 1.0pt; border-top:none;height:17.75pt'>
            <p style='margin-left:.25pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Rhodes, Lloyd F.</font></p> </td>
        <td width="291" valign=top style='border-top:none;border-left: none;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;  height:17.75pt'>
            <p style='margin-left:67.9pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>4.25%</font></p> </td> </tr>
    <tr style='height:14.65pt'>
        <td width="286" valign=top style='border:solid black 1.0pt; border-top:none;height:14.65pt'>
            <p style='margin-left:.25pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Schneider, Kenneth Lee</font></p> </td>
        <td width="291" valign=top style='border-top:none;border-left: none;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;  height:14.65pt'>
            <p style='margin-left:67.9pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>0.00<sup>%</sup></font></p> </td> </tr>
    <tr style='height:16.3pt'>
        <td width="286" valign=top style='border:solid black 1.0pt; border-top:none;height:16.3pt'>
            <p style='margin-left:.25pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Tritz, Peter A.</font></p> </td>
        <td width="291" valign=top style='border-top:none;border-left: none;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;  height:16.3pt'>
            <p style='margin-left:.95in;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>5.75%</font></p> </td> </tr>
    <tr style='height:16.1pt'>
        <td width="286" valign=top style='border:solid black 1.0pt; border-top:none;height:16.1pt'>
            <p style='margin-left:.25pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Walker, Nigel</font></p> </td>
        <td width="291" valign=top style='border-top:none;border-left: none;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;  height:16.1pt'>
            <p style='margin-left:67.9pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>4.50%</font></p> </td> </tr>
    <tr style='height:18.15pt'>
        <td width="286" valign=top style='border:solid black 1.0pt; border-top:none;height:18.15pt'>
            <p style='margin-left:.25pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Whitmire, Wayne P.</font></p> </td>
        <td width="291" valign=top style='border-top:none;border-left: none;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;  height:18.15pt'>
            <p style='margin-left:67.9pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>0.00%</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><B><font SIZE=2>WHEREAS</font></B><font size=2>, the benefits provided by the DC SERP were to be determined using the same provisions found in Section 4.1 (f) of the InterContinental Life Corporation Employee Savings and Investment Plan ("the 401(k) Plan"), including IRC Section 401(a)(17) and 415 limits;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><B><font SIZE=2>WHEREAS</font></B><font size=2>, it is now the desire of the Company to terminate the DC SERP as permitted under Section 9.2 of the DC SERP and distribute all contributions made on behalf of participants during the 2005 plan year as a one-time lump sum payment;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><B><font SIZE=2>BE IT RESOLVED</font></B><font size=2>, that the Board of Directors of the Company hereby approves the termination of the InterContinental Life Corporation Supplemental Defined Contribution Executive Retirement Plan and the distribution of all benefits under the plan, and authorizes its officers to take such further steps as are necessary to accomplish this resolution, including any other amendments as may be required by IRC Section 409A and its associated regulations provided such amendments do not materially alter the benefits provided under the DC SERP;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><B><font SIZE=2>IN WITNESS THEREOF</font></B><font size=2>, I do hereby certify that the foregoing is a true and correct copy of an original resolution passed by the InterContinental Life Corporation Board of Directors at a meeting held on the </font><u><font size=2>13<sup>th</sup></font></u><font size=2> day of </font><u><font size=2>December</font></u><font size=2>, 2005.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>INTERCONTINENTAL LIFE CORPORATION</font></B></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By:</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>/s/ Michael P. Hydanus</font></p> </td> </tr></table>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Name:</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Michael P. Hydanus</font></p> </td> </tr></table>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Date:</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>12/20/2005</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:3.6pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:3.6pt;text-align:left;'><B><font SIZE=2>ATTEST</font></B></p>

<p style=' margin-bottom:0pt; margin-top:3.6pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>By: </font><u><font size=2>/s/ Jennifer L. Robinson</font></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Name: Jennifer L. Robinson</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Date: 12/20/05</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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