Exhibit 10.3

AMENDATORY AGREEMENT

          This Amendatory Agreement (the “Agreement”) is entered into as of
January 1, 2004, between Bristol West Holdings, Inc., a Delaware Corporation
(formerly BRW Acquisition, Inc.) (the “Company”) and Fisher Capital Corp., LLC
(“Fisher Capital”).

          WHEREAS the Company and Fisher Capital entered into a letter agreement
dated as of July 9, 1998 (the “Letter Agreement”), whereunder Fisher Capital
agreed to provide management, consulting and financial services to the Company
and the Company agreed to retain Fisher Capital to provide such services
pursuant to the terms contained therein (including the payment by the Company to
Fisher Capital of a fee (the “Fee”) equal to $250,000 per calendar year to
Fisher Capital in consideration of its provision of such services);

          WHEREAS, effective September 1, 2000, Jim Fisher, Managing Member of
Fisher Capital, commenced performing services for the Company in the capacity of
Acting Chief Executive Officer thereof, and in consideration thereof, the
Company agreed to increase the fee to $600,000 per calendar year, retroactive to
January 1, 2000.

          WHEREAS, effective January 1, 2002, in consideration of Jim Fisher,
Managing Member of Fisher Capital, performing services for the Company in the
capacity of Acting Chief Executive Officer thereof, the Company agreed to
increase the fee to $700,000 per calendar year, effective from January 1, 2002.

          WHEREAS, giving effect to James R. Fisher in his capacity as Chief
Executive Officer being compensated directly by the Company as an employee of
the Company effective as of January 1, 2004, and in consideration of the
remaining members of Fisher Capital continuing to provide management, consulting
and financial services to the Company, the Company and Fisher Capital agree to
reduce the fee to $95,000 per calendar year, effective January 1, 2004.

          NOW THEREFORE, to implement the foregoing and for good and valuable
consideration, the parties to this Agreement agree as follows:

 

1.

Paragraph 1 of the Letter Agreement is amended by replacing the phrase “seven
hundred thousand dollars ($700,000)” with the phrase “ninety-five thousand
dollars ($95,000)”, commencing as of January 1, 2004.

 

 

 

 

2.

As amended by this Agreement, the Letter Agreement shall continue in full force
and effect in accordance with the terms thereof.

FISHER CAPITAL CORP., LLC

 

BRISTOL WEST HOLDINGS, INC.

 

 

 

 

 

 

 

 

 

 

By:

/s/ James R. Fisher

 

By:

/s/ Jeffrey J. Dailey

 

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Name:

James R. Fisher

 

Name:

Jeffrey J. Dailey

Title:

Managing Member

 

Title:

President & Chief Operating Officer

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TERMINATION AGREEMENT

This Termination Agreement (the “Termination Agreement”) is entered into by and
between Bristol West Holdings, Inc., a Delaware corporation formerly known as
BRW Acquisition, Inc. (“Bristol West”), and Fisher Capital Corp., LLC (which we
refer to as “Fisher Capital”).

WHEREAS, Bristol West and Fisher Capital entered into a contract in the form of
a letter agreement dated July 9, 1998 (the “Letter Agreement”);

WHEREAS, Bristol West and Fisher Capital entered into an Amendatory Agreement
dated as of December 18, 2000 (the “First Amendment”);

WHEREAS, Bristol West and Fisher Capital entered into an Amendatory Agreement
dated as of January 1, 2002 (the “Second Amendment”);

WHEREAS, Bristol West and Fisher Capital entered into an Amendatory Agreement
dated as of January 1, 2004 (the “Third Amendment” and collectively with the
Letter Agreement, the First Amendment and the Second Amendment, the “Fisher
Capital Contract”); and

WHEREAS, Bristol West and Fisher Capital have agreed to terminate the Fisher
Capital Contract.

NOW THEREFORE, in consideration of the foregoing and the mutual agreements set
forth below, the sufficiency and mutuality of which the parties hereby
acknowledge, Bristol West and Fisher Capital do hereby agree as follows:

The Fisher Capital Contract is hereby terminated by mutual agreement effective
as of December 31, 2006, in accordance with Section 8 of the Letter Agreement.

IN WITNESS WHEREOF, Bristol West and Fisher Capital have executed and delivered
this Termination Agreement effective on the latest date written below.

BRISTOL WEST HOLDINGS, INC.,
(f/k/a BRW Acquisition, Inc.)

 

FISHER CAPITAL CORP. LLC

 

 

 

 

 

 

 

 

 

 

By:

/s/ Jeffrey J. Dailey

 

By:

/s/  James R. Fisher

 

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Name:

Jeffrey J. Dailey

 

Name:

James R. Fisher

Title:

President and Chief Executive Officer

 

Title:

Managing Member

Date:

November 7, 2006

 

Date:

November 7, 2006

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