Exhibit 10.31


 


FOURTH AMENDMENT TO SERVICE
COMPANY CONTRACT


 


This Fourth Amendment to
that certain Service Company Contract (hereinafter referred to as the
“Agreement”) is made and entered into as of the lst day of January, 2000, by and between Pinnacle Administrative Company
(formerly known as Florida Administrators, Inc.), a Florida corporation
(hereinafter referred to as the “Management Company”) and Pinnace
Benefits, Inc. (formerly known as Compensation Benefits, Inc.), a
Florida corporation (hereinafter referred to as “Service Company”).


 


RECITALS


 


WHEREAS, the Management
Company and the Service Company have previously entered into the Agreement
effective April 7, 1995; and


 


WHEREAS, the Agreement has
been previously amended by the First Amendment, Second Amendment and Third
Amendment to Service Company Contract; and


 


WHEREAS, the Management
Company and the Service Company have agreed to amend Article IV of the
Agreement at Section 4.3(a) by amending the “Service Fees” as
described therein all as hereinafter set forth.


 


NOW THEREFORE for good and
valuable consideration, the receipt, sufficiency and adequacy of which is
hereby conclusively acknowledged by the undersigned parties, it is agreed by
and between the Management Company and the Service Company as follows:


 


1.             The above Recitals are incorporated into the
terms and provisions of this Agreement by reference.


 


2.             Article IV “Duties and Responsibilities
of Pinnacle and Management Company” at Section 4.3 “Service Fees” is
hereby amended by deleting subparagraph (a) and by adding the following
amended subparagraph (a) in replacement thereof:


 


“(a) Management Company
agrees to pay to the Service Company, during the term of this Agreement, on a
monthly basis, Service Fees equal to 3% of the earned Audited Standard Premium
earned by AmCOMP for each calendar year. 
Each such monthly payment shall represent, when paid, an estimated
monthly


 


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payment of the Service
Company’s Service Fees.  The actual
Services Fees shall be subsequently determined based upon audited records and
shall then be paid by Management Company.”


 


3.             All remaining terms and provisions of the
Agreement as preciously amended and as amended by this Fourth Amendment shall
remain in full force and effect.  In the
event of a conflict between the terms and provisions of this Fourth Amendment
and the terms and provisions of the Agreement or a previous amendment, the
terms and provisions of this Fourth Amendment shall prevail.


 


IN WITNESS WHEREOF, the
undersigned have executed this Fourth Amendment to Service Company Contract
effective as of the date set forth above.


 


	
  Witnesses:

  	
   

  
	
   

  	
   

  
	
   

  	
  MANAGEMENT COMPANY: PINNACLE

  ADMINISTRATIVE COMPANY

  
	
   

  	
   

  
	
  /s/ Laura Newstead

  	
   

  	
  By:

  	
  /s/ Debra Cerre-Ruedisili

  	
   

  
	
  Print Name:  Laura Newstead

  	
   

  	
  As Its Director, Executive Vice President,

  Chief Operating Officer

  
	
  /s/ Jay Di Egidio

  	
   

  	
   

  	
  And Duly Authorized Agent

  
	
  Print Name:  Jay Di Egidio

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  SERVICE COMPANY: PINNACLE

  BENEFITS, INC.

  
	
   

  	
   

  	
   

  
	
  /s/ Lisa G. Patterson

  	
   

  	
  By:

  	
  /s/ [ILLEGIBLE]

  	
   

  
	
  Print Name:  Lisa G. Patterson

  	
   

  	
  As Its Secretary

  	
   

  
	
   

  	
   

  	
  And Duly Authorized Agent

  
	
  /s/ Jay Di Egidio

  	
   

  	
   

  	
   

  
	
  Print Name:  Jay Di Egidio

  	
   

  	
   

  
							



 


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