Document:

exv10w13

Exhibit
10.13

	 	 	 	 	 
	BORROWER NAME AND ADDRESS	 	LENDER NAME AND ADDRESS	 	LOAN DESCRIPTION
	Sun
Coast Holdings, Inc., Brandywine Insurance

	 	Brooks Credit Corporation	 	 
	Holdings,
Inc., and Patriot Risk services, Inc.

	 	 10050 Grandview Dr., Ste. #600
	 	Number 5137
	401
East Las Olas Blvd. Suite 1540

	 	Overland Part, KS 66210
	 	Amount
8,652,000.00 
	Ft. Laudrerdale, FL 33301

	 	 	 	Date 03-30-2006

o Refer to the attached Signature Addendum, incorporated herein, for additional Borrowers and
their signatures.

COMMERCIAL
LOAN AGREEMENT

LOAN
STRUCTURE. This Commercial Loan Agreement (Agreement) contemplates þ a single advance term
Loan o a multiple advance draw Loan o a revolving multiple advance draw Loan. The principal
balance will not exceed $5,652,000.00. Borrower will pay down a revolving draw Loan’s outstanding
Principal in $                    (Pay Down Balance)                     (Time Period). This Loan is for o agricultural þ business
purposes.

o Borrower may not voluntarily
prepay the Loan in full at any time. þ Borrower may prepay the
Loan under the following terms and conditions (Any partial prepayment will not excuse any later
scheduled payments until the Loan is paid in full) at any time
subject to the payment of the prepayment premium hereinafter described,

þ
LATE CHARGES. If a payment is made more than 5 days after it is
due, Borrower will pay a
late charge of 5.000% of the payment amount.

FEES. Borrower agrees to pay the following fees in connection with this Loan at closing or as
otherwise requested by Lender: BOC Borrower’s Assistance Plan

$750,000.000

BCC fees and DB Indemnity $252,000

National Capital Advisors $150,000

REQUESTS FOR ADVANCES. Borrower authorizes Lender to honor a request for an advance from
Borrower or any person authorized by Borrower. The requests for an
advance must be in writing, by
telephone, or any other manner agreed upon by Borrower and Lender, and must specify the requested
amount and date and be accompanied with any agreements, document,
and instruments that Lender
requires for the Loan. Lender will make same day advances, on any day
that Lender is open for
business, when the request is received
before                    (Advance
Cut-Off Time). Lender will disburse the
advance into Borrower’s demand deposit account (if any), account
number                      or in any other agreed
upon manner. All advances will be made in United States dollars.

	 	o	 	These requests must be made by at
least                      (Number Required To Draw) persons, acting
together, of those persons authorized to act on Borrower’s behalf.
	 
	 	o	 	Advances will be made in the amount of at least $                      (Minimum Amount Of Advance).
	 
	 	o	 	Advances will be made no more frequently than                    (Minimum Frequency Of Advance).
	 
	 	o	 	Discretionary Advances. Lender will make all loan advances at Lender’s sole discretion.
	 
	 	o	 	Obligatory Advances. Lender will make all Loan advances subject to this Agreement’s terms
and conditions.

FINANCIAL INFORMATION. Borrower will prepare and maintain Borrower’s financial
records using consistently applied generally accepted accounting
principles then in effect.
Borrower will provide Lender with financial information in a form acceptable to Lender and under
the following terms.

	 	A.	 	Frequency. Annually, Borrower will provide to Lender Borrower’s financial statements, tax
returns, annual internal audit reports or those prepared by independent accountants within 120
days after the close of each fiscal year. Any annual financial
statements that Borrower provides
will be þ audited statements.
      o
reviewed statements,
     o compiled statements. þ Borrower
will provide Lender with interim financial reports on a Quarterly
(Monthly, Quarterly) basis, and within 45 days after the close
of this business period. Interim financial statements will be
o audited þ reviewed o compiled statements.
	 
	 	B.	 	Requested Information. Borrower will provide Lender with any other Information
about Borrower’s operations, financial affairs and conditions within 15 days after Lender’s
request.

	 	 	 	 	 
	o

	 	C.
	 	Leverage Ratio. Borrower will maintain at all times a ratio of total liabilities to
tangible net worth, determined under consistently applied generally accepted accounting
principles, of                     (Total Liabilities to Tangible Net Worth Ratio) or less.
	o

	 	D.
	 	Minimum Tangible Net Worth. Borrower will maintain at all times a total tangible net
worth, determined under consistently applied generally accepted accounting principles, of $                    
(Minimum Tangible Net Worth) or more. Tangible net worth is the amount by which total assets
exceed total liabilities. For determining tangible net worth, total assets will exclude all
intangible assets, including without limitation goodwill, patents, trademarks, trade names,
copyrights, and franchises, and will also exclude any accounts receivable that do not provide for
a repayment schedule.
	o

	 	E.
	 	Minimum Currant Ratio. Borrower will maintain at all times a ratio of current assets
to current liabilities, determined under consistently applied generally accepted accounting
principles of                     (Minimum Current Ratio) or more.
	o

	 	F.
	 	Minimum Working-Capital. Borrower will maintain at all times a working capital, determined
under consistently applied generally accepted accounting principles by subtracting current liabilities from current assets, of $                    (Minimum Working
Capital) or more. For this determination, current assets exclude                    
(Excluded Current Assets). Likewise, current liabilities include (1) all obligations payable on
demand or within one year after the date on which the determination
is made, and (2) final
maturities and sinking fund payments required to be made within one year after the date on which
the determination is made, but exclude all liabilities or obligations that Borrower may renew
or extend to a date more than one year from the date of this
determination.

ATTACHMENTS. The following documents are incorporated by reference into this Agreement: o
Asset Based Financing Agreement addendum dated                      o Commercial Security Agreement addendum dated
                    þ
Other Addendum hereto dated 3/30/2006

ADDITIONAL TERMS:

	o	 	ORAL AGREEMENTS OR COMMITMENTS TO LOAN MONEY, EXTEND CREDIT OR TO FORBEAR FROM
ENFORCING REPAYMENT OF A DEBT INCLUDING PROMISES TO EXTEND OR RENEW
SUCH DEBT ARE NOT
ENFORCEABLE, REGARDLESS OF THE LEGAL THEORY UPON WHICH IT IS BASED THAT IS IN ANY WAY
RELATED TO THE CREDIT AGREEMENT. TO PROTECT YOU (BORROWER) AND US (LENDER) FROM
MISUNDERSTANDING OR DISAPPOINTMENT, ANY AGREEMENTS WE REACH COVERING SUCH MATTERS ARE
CONTAINED IN THIS WRITING, WHICH IS THE COMPLETEE AND EXCLUSIVE
STATEMENT OF THE AGREEMENT BETWEEN US, EXCEPT AS WE MAY LATER AGREE
IN WRITING TO MODIFY IT. BY SIGNING THIS AGREEMENT, THE PARTIES AFFIRM THAT NO UNDERWRITTEN ORAL AGREEMENT EXISTS BETWEEN
THEM.

SIGNATURES, By signing under seal, I agree to all the term and condition beginning on page 1
through the bottom of page 2 this Agreement. Borrower also
acknowledges receipt of a copy of this Agreement.

BORROWER:

SonCoast
Holdings, Inc., Brandywine Insurance Holdings, Inc. and
Patriot Risk Services, Inc. 

Entity Name

	 	 	 	 	 	 	 	 	 	 	 	 	 
	/S/ Steven M. Mariano
CEO 	 	 	(Seal)	 	/S/ Steven (illegible)	(Seal)
	 	 	 	 	 	 	 
	Signature

	 	 	 	Date
	 	 	 	Signature (illegible)
	 	Date	 	 
	Steven (illegible)
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	/S/ Steven Mariano	 	 	(Seal)	 	 	 	 	(Seal)
	 	 	 	 	 	 	 
	Signature

	 	 	 	Date
	 	 	 	Signature
	 	Date	 	 
	Steven Mariano
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	LENDER
	 	 	 	 	 	 	 	 	 	 	 	 
	Brooke Credit Corporation	 	 	 	 	 	 	 	 	 	 
	Entity Name
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	(Seal)	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Signature

	 	 	 	Date	 	 	 	 	 	 	 	 
	Michael Lowry,Presidant
	 	 	 	 	 	 	 	 

	 	 	 
	COMMERCIAL
LOAN AGREEMENT, to be used with form Comm- NOTE
EXPERTS @ 1999,2001 Bankers Systems, Inc., St. Cloud MN. (illegible)

	 	NOT TO BE USED FOR LOANS SUBJECTS
TO CONSUMER LENDING LAWS

 

DEFINITIONS. In this Agreement, the following terms have the following meanings,

Accounting Terms. Accounting terms that are not specifically defined will have their customary
meanings under consistently applied generally accepted accounting principles.

Loan. Loan refers in all advances made under the terms of this Agreement.

Loan Documents. Loan Documents include this Agreement and all documents prepared pursuant to the
terms of this Agreement Including all present and future promissory notes (Notes), security
instruments, guaranties, and supporting documentation as modified, amended or supplemented.

Property.
Property is any collateral, real, personal or intangible, that
secures Borrower’s performance of
the obligations of this Agreement.

ADVANCES. To the extent permitted by law, Borrower will Indemnify Lender and hold Lender harmless
for reliance on any request for advance that Lender reasonably believes to be genuine. Lender’s
records are conclusive evidence as to the number and amount of advances and the Loan’s unpaid
principal and interest, If any advance results in an overadvance (when the total amount of the
Loan exceeds the principal balance) Borrower will pay the overadvance, as requested by Lender.
Regarding Borrower’s demand deposit account(s) with Lender, Lender may, at its option, consider
presentation for payment of a check or other charge exceeding available funds as a request for an
advance under this Agreement. Any such payment by Lender will constitute an advance on
the Loan.

CONDITIONS. Borrower will satisfy all of the following conditions before Lender makes any
advances under this Agreement. If this Agreement provides for discretionary advances,
satisfaction of these conditions does not commit Lender to making advances.

No Default. There has not been a default under the Loan Documents nor would a default result from
making the advance.

Information. Borrower has provided all required documents, information, certifications
and warranties, all properly executed on forms acceptable to Lender.

Inspections.
Borrower has accommodated, to Lender’s satisfaction, all inspections.

Conditions and Covenants.
Borrower has performed and complied with all conditions required for an advance and all covenants
in the Loan Documents

Warranties and Representations. The warranties and representations
contained in this Agreement are true and correct at the time of making the advance.

Financial
Statements. Borrower’s most recently delivered financial statements and reports are
current, complete, true and accurate in ail material respects and fairly represent Borrower’s
financial condition.

Bankruptcy
Proceedings. No proceeding under the United Suites Bankruptcy Code has been
commenced by or against Borrower or any of Borrower’s affiliates.

WARRANTIES AND
REPRESENTATIONS. Borrower makes these warranties and representations which will continue as long
as this Agreement is in effect.

Power.
Borrower is duly organized, validly existing and in good standing in all jurisdictions in
which Borrower operates. Borrower has the power and authority to
enter into this transaction and
to carry on its business or activity as it is now being conducted. All persons who are required by
applicable law and the governing documents of Borrower have executed and delivered to Lender this
Agreement and other Loan Documents.

Authority. The execution, delivery and performance of this Agreement and the obligation evidenced
by the Loan Documents are within Borrower’s duly authorized powers, has received all necessary
governmental approval, will not violate any provision of law or order of court or governmental
agency, and will not violate any agreement to which Borrower is a party or to which Borrower or
Borrower’s property is subject.

Name
and Place of Business. Other than previously disclosed in writing to Lender, Borrower has
not changed its name or principal place of business within the last ten years and has not used
any other trade or fictitious name. Without Lender’s prior written consent. Borrower will not use
any other name and will preserve Borrower’s existing name, trade names and franchises.

No
Other Liens. Borrower owns or leases all property that is required for its business and except
as disclosed, the property is free and clear of all liens, security interests, encumbrances and
other adverse interests.

Compliance With Laws. Borrower is not violating any laws, regulations, rules, orders, judgments
or decrees applicable to Borrower or its property, except as disclosed to Lender.

Financial
Statements. Borrower represents and warrants that all financial statements Borrower
provides fairly represent Borrower’s financial condition for the stated periods, are current,
complete, true and accurate in all material respects, include all direct or contingent
liabilities, and that there has been no material adverse change in Borrower’s financial
condition, operations or business since the date the financial information was prepared.

COVENANTS. Until the Loan and all related debts, liabilities and obligations under the Loan
Documents are paid and discharged, Borrower will comply with the following terms, unless Lender
waives compliance in writing.

Inspection and Disclosure. Borrower will allow Leader or its agents to enter any of Borrower’s
premises during mutually agreed upon times, to do the following: (1) inspect, audit, review and
obtain copies from Borrower’s books, records, orders, receipts, and other business related data;
(2) discuss Borrower’s finances and. business with anyone who claims to be Borrower’s creditor;
(3) inspect Borrower’s Property, audit for the use and
disposition of the Property’s proceeds, or
do whatever Lender decides is necessary to preserve and protect the Property and Lender’s interest
in the Property, As long as this Agreement is in effect, Borrower will direct all of Borrower’s
accountants and auditors to permit Lender to examine and make copies of Borrower’s records in
their possession, and to disclose to Lender any other information that they know about Borrower’s
financial condition and business operations. Lender may provide Lender’s regulator with required
information about Borrower’s financial condition, operation and business or that of Borrower’s
parent, subsidiaries or affiliates.

Business
Requirements. Borrower will preserve and maintain its present existence and good
standing in jurisdictions where Borrower is organized and operates. Borrower will continue its
business or activities as presently conducted, by obtaining licenses, permits and bonds where
needed. Borrower will obtain Lender’s prior written consent before ceasing business or engaging
in any line of business that is materially different from its present business.

Compliance with Laws. Borrower will not violate any laws, regulations, rules, orders, judgments
or decrees applicable to Borrower or Borrower’s property, except for those which Borrower
challenges in good faith through proper proceedings after providing adequate reserves to fully
pay the claim and its appeal should Borrower lose. On request, Borrower will provide Lender with
written evidence that Borrower has fully and timely paid taxes, assessments and other
governmental charges levied or imposed on Borrower and its income, profits and property. Borrower
will adequately provide for the payment of taxes, assessments and
other charges that may have accrued’
but are not yet due and payable.

New Organizations. Borrower will obtain Lender’s written consent before organizing, merging into,
or consolidating with an entity; acquiring all or substantially all of the assets of another; or
materially changing legal structure, management, ownership or financial condition.

Other
Liabilities. Borrower will not
incur, assume or permit any debt evidenced by notes, bonds
or similar obligations except debt in existence on the date of this Agreement and fully disclosed
to Lender; debt subordinated in payment to Lender on terms acceptable to Lender; accounts payable
incurred in the ordinary course of business and paid under customary trade terms or contested in
good faith with reserves satisfactory to Lender; or as otherwise agreed to by Lender.

Notice. Borrower will promptly notify Lender of any material change in financial condition, a
default under the Loan Documents, or a default under any agreement with a third party which
materially and adversely affects Borrower’s property, operations or financial condition.

Dispose
of No Assets. Without Lender’s prior written consent. Borrower will not sell, lease,
assign, or otherwise distribute all or substantially all of its assets.

Insurance. Borrower will obtain and
maintain insurance with Insurers in amounts and coverages that
are acceptable to Lender and customary with industry practice. This may Include without limitation
credit insurance, insurance policies for public liability, fire, hazard and extended risk, workers
compensation, and, at Lender’s request, business interruption and/or rent loss insurance. Borrower
may obtain insurance from anyone Borrower wants that is acceptable to Lender, Borrower’s choice of
insurance provider will not affect the credit decision or Interest rate. At Lender’s request,
Borrower will deliver to Lender certified copies of ail of these insurance policies, binders or
certificates. Borrower will obtain and maintain a mortgagee or loss payee endorsement for Lender
when these endorsements are available. Borrower will require all insurance policies to provide at
least 10 days prior Written notice to Lender of cancellation or modification, Borrower consents to
Lender using or disclosing information relative to any contract of insurance required for the Loan
for the purpose of replacing this insurance, Borrower also authorizes its insurer and Lender to
exchange all relevant Information related to any contract of Insurance executed as required by any
Loan Documents.

Property Maintenance. Borrower will keep property that is necessary or useful in its business in
good working condition by making all needed repairs, replacements and improvements and by making
payments due on the property.

DEFAULT.
If the Loan is payable on demand, Lender may demand payment at any time whether or not
any of the following events have occurred. Borrower will be in default if any one or more of the
following occur: (1) Borrower fails to make a payment in full when due. (2) Borrower makes an
assignment for the benefit of creditors or becomes insolvent, either because Borrower’s liabilities
exceed its assets or Borrower is unable to pay debts as they become due; or Borrower petitions for
protection under any bankruptcy, insolvency or debtor relief laws, or is the subject of such a
petition or action and fails to have the petition or action dismissed within a reasonable period
of time. (3) Borrower fails to perform any condition or to keep any promise or covenant on this
Agreement or any debt or agreement Borrower has with Lender. (4) A default occurs under the terms
of any instrument evidencing or pertaining to this Agreement. (5) If Borrower is a producer of
crops, Borrower fails to plant, cultivate and harvest crops in due season. (6) Any loan proceeds
ate used for a purpose that will contribute to excessive erosion of highly credible land or to the
conversion of wetlands to produce an agricultural commodity, as further explained by federal law,
(7) Anything else happens that either significantly impairs the value of the Property or, unless
controlled by the New Jersey Banking Law, causes Lender to reasonably believe that Lender will
have difficulty collecting the Loan.

REMEDIES. After Borrower defaults,
and after Lender gives any legally required notice and
opportunity to cure, Lender may at its option use any and all remedies Lender has under state or
federal law or in any of the Loan Documents, including, but not limited to, terminating any
commitment or obligation to make additional advances or making all or any part of the amount owing
immediately due. Lender may set-off any amount due and payable under the terms of the Loan against
Borrower’s right to receive money from Lender, unless prohibited by applicable law. Except as
otherwise required by law, by choosing any one or more of these remedies Lender does not give up
Lender’s right to use any other remedy. Lender does not waive a
default if Lender chooses not to
use a remedy; and may later use any remedies if the default continues or occurs again.

COLLECTION
EXPENSES AND ATTORNEYS’ FEES. To the extent permitted
by law, Borrower agrees to pay all expenses of collection, enforcement and
protection of Lender’s rights and remedies under this Agreement. Expenses
include, but are not limited to, reasonable attorneys1 fees including attorney fees as
permuted by the United States Bankruptcy Code, court costs and other legal
expenses. These expenses will bear interest from the date of payment until paid in
full at the contract interest rate then in effect for the Loan. FL: Attorneys’ fees will
be 10 percent of the principal sum due or a larger amount as the court judges as
reasonable and just. GA: Attorneys’ fees will be 15 percent of the principal and
interest owing.

GENERAL PROVISIONS. This Agreement is governed by the laws of the jurisdiction where Lender Is
located, the United States of America and to the extent required, by the laws of the Jurisdiction
where the Property is located.

Joint And Individual Liability And Successors. Each Borrower, Individually, has the duty of fully
performing the obligations on the Loan. Lender can sue all or any of the Borrowers upon breach of
performance. The duties and benefits of this Loan will bind and benefit the successors and assigns
of Borrower and Lender.

Amendment, Integration And Severability.
The Loan Documents may not be amended or modified by
oral agreement. Borrower agrees that any party signing this Agreement as Borrower is authorized to
modify the terms of the Loan Documents, Borrower agrees that Lender may inform any party who
guarantees this Loan of any Loan accommodations, renewals, extensions, modification,
substitutions, or future advances. The Loan Documents are the complete and final expression of the
understanding between Borrower and Lender. If any provision of the Loan Documents is
unenforceable, then the unenforceable provision will be severed and the remaining provisions will
be enforceable,

Waivers
And Consent. Borrower, to the extent permitted by law, consents to certain actions Lender
may take, and generally waives defenses that may be available based on these actions or based on
the status of a party to the Loan. Lender may renew or extend payments on the Loan. Leader may
release any borrower, endorser, guarantor, surety, or any other co-signer. Lender may release,
substitute, or impair any Property securing the Loan. Lender’s course of dealing, or Lender’s.
forbearance from, or delay in, the exercise of any of Lender’s rights, remedies, privileges, or
right to insist upon Borrower’s strict performance of any provisions contained in the Loan
Documents, will not be construed as a waiver by Lender, unless the waiver is in writing and signed
by Lender, Lender may participate or syndicate the Loan and share any information that Lender
decides is necessary about Borrower and the Loan with the other participants.

Interpretation. Whenever used, the singular includes the plural and the plural includes the
singular. The section headings are for convenience only and are not to be used to interpret or
define the terms of this Agreement. Unless otherwise indicated, the terms of this Agreement shall
be construed in accordance with the Uniform Commercial Code.

Notice. Unless otherwise required by law, any notice will be given by delivering it or mailing it
by first class mail to the appropriate party’s address listed in this Agreement, or to any other
address designated in writing. Notice to one party will be deemed to be notice to all parties,
Time is of the essence.

page 2 of 21

 

ADDENDUM TO COMMERCIAL LOAN AGREEMENT

     This Addendum to Commercial Loan Agreement (this “Addendum”) is made to and a part
of the Commercial Loan Agreement, dated March 30, 2006 (the “Agreement”), by and among
SUNCOAST HOLDINGS, INC., a Delaware corporation (“SH”), BRANDYWINE INSURANCE HOLDINGS,
INC., a Delaware corporation (“BIH”) and PATRIOT RISK SERVICES, INC., a Delaware
corporation (“PRS”) (SH, BIH and PRS collectively and jointly and severally referred to
as “Borrower”), and BROOKE CREDIT CORPORATION, a Kansas corporation (“Lender”).

     All capitalized terms not otherwise defined in this Addendum shall have the meaning ascribed
thereto as set forth in the above-referenced Agreement to which this Addendum is an integral part
thereof, and all references in this Agreement and all other Loan Documents to the “Agreement” (as
hereinabove defined) shall refer to the Agreement as amended by this Addendum.

     For good and valuable consideration, the receipt and sufficiency of which are acknowledged,
it is agreed as follows:

     1. LOAN PROCEEDS. Borrower warrants, represents and agrees that the proceeds of the Loan
shall be used solely for the following specific purposes and for no other purpose: (i) to enable
Borrower to provide capital in the amount of $3,000,000 to Guarantee Insurance Company, a South
Carolina domiciled insurance company (“GIC”); (ii) to enable Borrower to provide future
capital in the amount of $2,300,000 to GIC and/or to finance Borrower’s future expansion
activities; (iii) to enable Borrower to retire a promissory note payable to The Thomson
Corporation in the amount of $2,200,000; (iv) $750,000 to enable Borrower to purchase a
Borrower’s Assistance Plan from and in favor of CJD & Associates, L.L.C. d/b/a Brooke Brokerage,
a Kansas limited liability company (“Brooke”), pursuant to such documentation as Brooke
may require in its sole and absolute discretion; (v) $252,000 for the payment of all loan,
origination and other transaction-related fees that are payable by Borrower to Lender, which fees
shall in part be used to purchase a financial guaranty policy from DB Indemnity (“DB”) in favor
of Lender; and (vi) $150,000 for the payment of consulting and advisory services to National
Capital Advisors, (vii) the remainder, if any, shall be disbursed to Borrower for general
business purposes.

     2. NOTICE OF SALE OF COLLATERAL. Borrower shall not sell, transfer or otherwise convey any of the
Collateral (as hereinafter defined) other than in the ordinary course of business without
Lender’s prior written consent, which shall not be unreasonably withheld, delayed or conditioned.
In the event that Borrower desires to sell all or any portion of the Collateral, Borrower shall
provide to Lender ten (10) business days advance written notice of said sale with a copy of the
proposed sale contract and a written request for Lender’s approval of such transaction. Nothing
set forth in this paragraph shall be construed to restrict Borrower’s ability to sell tangible
personal property so long as such tangible personal property is replaced within a reasonable
period of time by similar tangible personal property of comparable value, or the sale of such
tangible personal property does not have a material adverse effect on the Borrower’s business
operations or if said sale is in the ordinary course of business.

 

 

     3. AGREEMENTS WITH INSURANCE ENTITIES. Borrower represents, warrants and
agrees that so long as the Loan is outstanding, Borrower, or any affiliate of Borrower, will not
terminate (or intentionally give/provide cause for any insurance entity to terminate) its Managing
Agreements (as defined hereinafter) with any Insurance Entity (as defined hereinafter) through
which Borrower has received ten percent (10%) or more of its gross revenues during the immediately
preceding twelve (12) month trailing period (hereinafter, “Material Agency Agreement”) if
such termination would have a material adverse effect on Borrower’s business. Borrower hereby
represents and warrants to Lender that, as of the date of this Agreement: (i) Borrower is in
compliance in all material respects with all Material Agency Agreements with such Insurance
Entities; (ii) Borrower is not in default under any Material Agency Agreement with any Insurance
Entity; and (iii) there are no known defaults or unmatured events of default or events which with
the passage of time will become defaults under any Material Agency Agreement with any of such
Insurance Entities. Borrower further represents and warrants to Lender that Borrower: (i) shall
maintain compliance in all material respects with said Material Agency Agreements; (ii) shall not
cause or allow any default or event of default thereunder; (iii) shall not, without Lender’s prior
written consent (which consent shall not be unreasonably withheld), terminate any of the Material
Agency Agreements until all liabilities of Borrower to Lender are paid in full; and (iv) shall not
permit any condition to exist or engage in, or permit to exist or occur, any condition or event or
transaction in connection with said Material Agency Agreements which might constitute grounds for
any such Insurance Entity to terminate any Material Agency Agreement. If a Material Agency
Agreement is terminated for reasons beyond Borrower’s control, Borrower shall notify Lender of
such termination within ten (10) days of Borrower’s receipt of such notice.

     4. FINANCIAL STATEMENTS; REVENUE INFORMATION; ETC.

     (a) Notwithstanding set forth in the paragraph titled FINANCIAL INFORMATION set forth on
page one of this Agreement, from the date of this Agreement and thereafter until all liabilities
of Borrower to Lender are paid in full, within one hundred twenty (120) days of the fiscal year
end of Borrower, and GIC (or within 15 business days after the date such filing is required to be
filed with the regulator), Borrower shall provide to Lender audited financial statements for
Borrower and GIC (including balance sheet, income statement, cash flow statement, and changes in
stockholder’s equity and such other information as Lender may from time to time require in its
sole and absolute discretion) for such fiscal year. In addition, Borrower shall provide to
Lender copies of Borrower’s and GIC’s tax returns within fifteen (15) days of Borrower’s and
GIC’s filing same and, notwithstanding set forth in the paragraph titled FINANCIAL INFORMATION
set forth on page one of this Agreement, shall provide to Lender financial statements for
Borrower and GIC (including balance sheet, income statement, cash flow statement and changes in
stockholder’s equity and such other information as Lender may from time to time require in its
sole and absolute discretion) within forty-five (45) days of each fiscal quarter of such entities
(or if a Borrower or GIC is required to file a similar quarterly report with a regulator, within
15 business days after the date such filing is required to be filed with the regulator). With
respect to Borrower and GIC, Lender may require additional or more frequent reporting and
financial statements, all as Lender may from time to time reasonably, and all of such financial
statements and reporting shall be in such form and detail as Lender may reasonably require.

2

 

     (b) From the date of this Agreement and thereafter until all liabilities of Borrower to
Lender are paid in full, each calendar quarter, Borrower agrees to furnish to Lender a copy of
Borrower’s and GIC’s commission and other reports with respect to insurance policies produced by
or through Borrower or GIC and all commissions paid and to be paid by Insurance Entities to
Borrower or GIC with a certificate signed by an officer of Borrower or GIC, as applicable, dated
the date of such report, verifying, warranting and attesting to Lender the accuracy and veracity
of such report. In addition to such reports, each calendar quarter Lender may ask for production
reports, third party company commission statements, and other commission reports or similar
information, records or data indicating Borrower’s and GIC’s current or past commission volume or
revenues, and all of such information, reports and statements shall be provided by Borrower to
Lender within twenty-one (21) business days of Lender’s request.

     (c) From the date of this Agreement and thereafter until all liabilities of Borrower to
Lender are paid in full, upon Lender’s written request, Borrower shall promptly deliver to Lender
all of the information, reports and documentation as the same pertain to Borrower and GIC, all as
set forth on Exhibit I attached hereto and hereby made a part hereof by reference.

     5. RECEIPT AND DISBURSEMENT BANK; AUTOMATIC DEBIT OF LOAN PAYMENTS. Borrower shall at all
times, so long as any indebtedness exists from Borrower to
Lender, maintain an account at                      (hereinafter “Lender Approved Bank”) in Account #                      as
Borrower’s primary depository and remittance bank account (for the purposes of this Agreement,
“Borrower’s Depository Account”). Borrower shall not close, transfer, change or restrict
Lender’s authorization to debit loan payments from Borrower’s Depository Account at the Lender
Approved Bank without Lender’s prior written approval (which approval shall not be unreasonably
withheld).

     (a) Borrower hereby agrees with Lender that all payments for, with respect to, or upon the
indebtedness of Borrower to Lender shall be automatically deducted from Borrower’s Depository
Account each month by Lender in accordance with Lender’s and the Lender Approved Bank’s standard
auto-debit policies and procedures, all at the sole cost of Borrower. All such auto-debit loan
payments shall be taken from the Borrower’s Depository Account as set forth above. Borrower shall
execute and deliver to Lender and the Lender Approved Bank all documents and authorizations
required to authorize Lender to debit such Borrower Depository Account for loan payments and other
amounts due and payable to Lender at the time of deduction. Such authorization shall be in form and
content acceptable to Lender in its sole and absolute discretion and shall not be revoked or
changed by Borrower without Lender’s written consent (which consent shall not be unreasonably
withheld).

     (b) Borrower hereby grants Lender a lien on, and first priority security interest in,
Borrower’s Depository Account and all proceeds at any time therein to secure all of Borrower’s
obligations, liabilities and indebtedness to Lender, and Borrower further agrees to promptly
execute and deliver to Lender and to take such action as Lender may from time to time require to
evidence such lien and first priority security interest and to instruct the Bank that upon the
occurrence of an Event of Default, the Lender Approved Bank shall deny Borrower any further access
to such Borrower’s Depository Account and transfer all monies therein on a daily basis to such
account or accounts of Lender as Lender may require in its sole and absolute discretion, all as may
be permitted by applicable law and by the Loan Documents.

3

 

     6. CONSENT TO LOAN PARTICIPATIONS; ETC. Borrower agrees and consents to Lender’s sale
or transfer, whether now or later, of the Loan, including, without limitation: Lender’s sale or
transfer of one or more participation interests in the Loan to one or more purchasers, whether
related or unrelated to Lender; Lender’s sale or transfer, whether now or later, of Borrower’s
Loan to an issuer of notes or other securities in whole or in part collateralized by Borrower’s
Loan; or Lender’s issuance of notes or other securities which are in whole or in part
collateralized by Borrower’s Loan. Lender may provide, without any limitation whatsoever, to any
one or more purchasers, potential purchasers or issuers, any information or knowledge Lender may
have about Borrower or about any other matter relating to the Loan. Borrower additionally waives
any and all notices of sale of participation interests, all notices of any repurchase of such
participation interests and all notices of issuance of notes or securities which are in whole or
in part collateralized by Borrower’s Loan. Borrower also agrees that the issuers of notes or
securities and/or purchasers of any participation interests may or will be considered as the
absolute owners of such interests in the Loan and will have all the rights granted under the
participation agreement or agreements governing the sale of such participation interests.
Borrower further waives all rights of offset or counterclaim that it may have now or later against
any issuer of notes or securities, or against any purchaser of such a participation interest and
unconditionally agrees that such issuer or purchaser may enforce Borrower’s obligations under the
Loan irrespective of the failure or insolvency of any holder of any interest in the Loan.
Borrower further agrees that the issuer of such notes or securities or purchaser of any such
participation interests may enforce its interests irrespective of any personal claims or defenses
that Borrower may have against Lender.

     7. COLLATERAL. As used in this Agreement, the term “Collateral” means all of
Borrower’s respective right, title and interest in, to and under all property and assets granted
as collateral security for the Loan, whether real, intangible or tangible personal property,
whether granted directly or indirectly, whether granted now or in the future, and whether granted
in the form of a security interest, mortgage, collateral mortgage, deed of trust, assignment,
pledge, chattel mortgage, collateral chattel mortgage, chattel trust, factor’s lien, equipment
trust, conditional sale, trust receipt, lien, charge, lien or title retention contract, lease or
consignment intended as a security device, or any other security or lien interest whatsoever,
whether created by law, contract, or otherwise. Collateral shall also include, but not be limited
to all of Borrower’s respective right, title and interest in, to and under the following, whether
now owned or at any time hereafter acquired:

     (a) All of Borrower’s personal property, whether tangible or intangible, and all of
Borrower’s interest in property and fixtures, now owned or existing or hereafter acquired and
wherever located, including without limitation, the following: (i) all furniture, inventory,
machinery, vehicles, equipment, goods and supplies; (ii) all accounts, including without
limitation, the Borrower’s Depository Account; (iii) all instruments, documents (including,
without limitation, the customer files), policies and certificates of insurance, securities,
negotiable instruments, money, chattel paper, investment property, deposits, warehouse receipts
and things in action; (iv) all general intangibles and rights to payment or proceeds of any kind,
including without limitation, rights to insurance premiums, rights to insurance and reinsurance
proceeds, dividends, distributions, proceeds and letter of credit proceeds; (v) all documents and
contract rights and interests of any kind, including without limitation, the rights and interests
set forth in any agency/producer agreement and insurance policy, and the rights and interests set

4

 

forth in all Material Agency Agreements and in all Managing Agreements with any Insurance Entity;
(vi) all intellectual property rights and similar assets, including without limitation trademark
rights, service mark rights, rights to licenses and rights to names, customer lists, trade
secrets, goodwill, trade names, permits and franchises, payment intangibles, computer programs,
etc.;

     (b) All of SH’s right, title and interest in BIH and Patriot Risk Management, Inc., a
Delaware corporation (“PRM”) whether evidenced by stock certificates or otherwise,
together with all dividends and other income, payments and distributions of any kind payable to SH
in its capacity as the sole stockholder of BIH and PRM;

     (c) All of BIH’s right, title and interest in GIC whether evidenced by stock certificates or
otherwise, together with all dividends and other income, payments and distributions of any kind
payable to BIH in its capacity as the sole stockholder of GIC;

     (d) All telephone numbers, rights to the lease of office space, post office boxes or other
mailing addresses, rights to trademarks and use of trade names, rights to software licenses, and
rents received by Borrower for the lease of office space;

     (e) All deposit accounts, disbursement accounts, accounts receivable, commission receivables,
economic interest of Borrower, all chattel paper, contract rights, instruments, documents, general
intangibles, inventory and goods in process of Borrower, whether now in existence or owned or
hereafter coming into existence or acquired, wherever located, and all returned goods, and
repossessions and replacements thereof;

     (f) All commissions, policy fees, service fees, underwriting fees, claims fees; administrative
and processing fees, fronting fees, risk management and loss/cost control fees, investment
income, management fees (including without limitation, case and captive management
fees), premium finance revenues, reinsurance brokerage commissions and all other revenue
(collectively, “Revenue”) payable to Borrower and any assignment thereof;

     (g) All “MGA Operations” being defined hereunder as Borrower’s policy
administration agreements, related service fees, and any agency, producer, broker, and managing
general agency agreements or similar such contracts (collectively, “Managing Agreements”)
with any insurance company, reinsurance company, managing general agency, broker or other insurance
supplier (collectively, “Insurance Entities”), the policies Borrower has written or placed
pursuant to such agreements, the right to commissions and policy fees (new, renewal, additional or
other) for any of the foregoing, and Borrower’s customer list and policy information for said
customers, and with respect to all of the foregoing, whether now owned by Borrower or at any time
hereafter acquired;

     (h) Any property, tangible or intangible, in which Borrower grants Lender a security
interest in any other Loan Document;.

     (i) All “Premium Finance Operations” being defined hereunder as Borrower’s or their
affiliates’ existing or future premium finance business, all tangible and intangible property
associated therewith, and all Revenue (less amounts due Insurance Entities) derived directly or
indirectly therefrom; and

5

 

     (j) All additions, attachments, parts, repairs, accessories, accessions, replacements and
substitutions to or for any of the foregoing and any proceeds and products of the above-described
property.

     Borrower hereby grants Lender a lien on and first priority security interest in the
Collateral to secure the payment and performance of the Loan and all of Borrower’s other
obligations, liabilities and indebtedness to Lender, whether now incurred or at any time
hereafter arising.

     8. DEFAULT. The paragraph titled “DEFAULT” on page 2 of this Agreement is amended and
restated in its entirety to read as follows:

     DEFAULT. Borrower will be in default if one or more of the following occur (each an
“Event of Default”):

     (a) (i) Borrower fails to make any payment due in accordance with the terms of any Promissory
Note which evidences the Loan within ten (10) calendar days after the due date thereof; (ii)
Borrower fails to fulfill or perform any material term, covenant, condition or obligation set
forth in this Agreement or any other “Loan Document” (which term, for all purposes of this
Agreement, shall include all documents and instruments (including, without limitation, promissory
notes, loan agreements, security agreements, guaranties and stock pledge agreements) which
pertains to this Agreement or evidence and/or secure any obligations of Borrower or any of the
Guarantors to Lender) within thirty (30) days after notice from Lender of such failure; provided,
however, no Event of Default shall be deemed to have occurred under this sub-paragraph 8(a)(ii) if
any such failure is reasonably capable of being cured, Borrower diligently pursues a cure of same,
Lender’s position is not materially adversely affected during Borrower’s pursuit to cure, and same
is in fact cured within 90 days after notice from Lender; or, (iii) if any material representation
or warranty set forth in this Agreement or any other Loan Document is not as represented or
warranted by Borrower;

     (b) If prior to payment in full of all obligations pursuant to the Loan Documents, (i)
Borrower and GIC do not at all times maintain employment agreements with Steven M. Mariano or Paul
V.H. Halter III in a form reasonably acceptable to Lender which includes non-solicitation and
non-competition language; (ii) Borrower and GIC fail to provide a copy of same to Lender upon
Lender’s request; or (iii) the cash and non-cash compensation, including bonuses and other
benefits, set forth in such employment agreements are materially increased without Lender’s prior
written consent, which consent shall not be unreasonably withheld;

     (c) (i) Borrower or GIC makes an assignment for the benefit of creditors or becomes insolvent,
either because Borrower’s and or GIC’s liabilities exceed its assets or Borrower or GIC is unable
to pay debts as they become due; Borrower or GIC petitions for protection under any bankruptcy,
insolvency, or debtor relief laws, or is the subject of such a petition or action and fails to have
the petition or action dismissed within a reasonable period of time;

     (d) If without Lender’s prior written consent, which shall not be unreasonably withheld,
delayed or conditioned, prior to payment in full of all obligations pursuant to the Loan Documents,
(i) Steven M. Mariano ceases to directly or indirectly hold an unencumbered 51% or

6

 

more of the ownership and/or profit interest in SH or 51% or more of the voting control of SH;
or, (ii) SH’s direct or indirect ownership and/or profit interest in BIH, GIC, PRS and/or PRM, is
transferred, diluted or further encumbered in any manner, including but not limited to, the
issuance of new shares, certificates or interests, assignment or gift of shares or interests, the
substitution of shares or interests, or the hypothecation or pledge of shares or interests;

     (e) If (i) GIC’s certificate of authority is suspended or revoked by the South Carolina
Department of Insurance, (ii) GIC is subject to or comes under any regulatory supervision, control
or rehabilitation; (iii) GIC’s risk based capital ratio as calculated pursuant to guidelines
established by the National Association of Insurance Commissioners (“NAIC”) falls to 200
or below, (iv) or GIC’s certificate of authority is suspended or revoked by any other regulatory
body having authority over GIC; provided, however, that GIC shall have 120 days within which to
cure;

     (f) If anything happens that either materially impairs the value of the Collateral or causes
Lender to reasonably believe that Lender will have difficulty collecting the Loan; provided
however, no Event of Default shall be deemed to have occurred under this paragraph 8(f) if any
such impairment or difficulty is reasonably capable of being cured or resolved. Borrower
diligently pursues a cure or resolution of same, Lender’s position is not materially adversely
affected during Borrower’s pursuit to cure or resolve, and same is in fact cured or resolved
within 90 days after notice from Lender;

     (g) If without Lender’s prior written consent (which consent will not be unreasonably
withheld, delayed or conditioned), prior to payment in full of all obligations pursuant to the
Loan Documents, GIC amends or deviates in any material respect from the underwriting guidelines
attached hereto as Exhibit II;

     (h) If without Lender’s prior written consent (which shall not be unreasonably withheld,
delayed or conditioned), prior to payment in full of all obligations pursuant to the Loan
Documents, Borrower and GIC enter into any contract, including employment contracts, consulting
contracts, policy servicing and processing contracts, underwriting contracts or claims processing
contracts, which would involve payment of expenses on an annual basis in excess of ten percent
(10%) of the combined annual revenues of Borrower and GIC, and, without Lender’s prior written
consent, which consent shall not be unreasonably withheld, delayed or conditioned, Borrower and
GIC amend any such contracts in any material manner;

     (i) If Borrower does not perform any of its obligations or duties associated with its
business when due, and such non-performance by Borrower relates to a material contract or is
material to Borrower’s business and persists for thirty (30) days following Lender’s notice to
Borrower of such failure; provided however, no Event of Default shall be deemed to have occurred
under this paragraph 8(i) if Borrower legitimately disputes the extent, amount or existence of
the obligation or duty and Lender’s position is not materially adversely affected by such
dispute; and/or,

     (j) If Steven M. Mariano and/or Paul V.H. Halter, III die, are legally incapacitated,
resign or are removed as executive officers of Borrower or GIC, and Mr. Mariano and/or Paul V.H.
Halter, III are not replaced within 180 days of such resignation or removal by individuals

7

 

deemed capable and competent by a majority of the independent members of the board of directors.

A default by Borrower in performing under the terms of any other “Loan Document” or the
occurrence of any default, Default or Event of Default under any other Loan Document, in each
case after any applicable notice, grace and/or cure periods, shall constitute a default and
Event of Default under the terms of this Agreement and all other Loan Documents, and the
occurrence of an Event of Default under this Agreement shall constitute a default, Default and
Event of Default under all other Loan Documents.

     9. REMEDIES UPON AND EFFECT OF DEFAULT. Upon the occurrence of any Event of Default and
expiration of any applicable cure period, in addition to any remedy or right Lender has under any
Loan Document, the Uniform Commercial Code, at law or in equity, Lender, at its discretion, may
also enforce the following (and the following shall be applicable and in effect):

     (a) For a period of five (5) years after Borrower’s default and failure to cure, Borrower,
and The Tarheel Group, Inc., Tarheel Insurance Management Company, Foundation Insurance Company,
Malvern Investment Group, LLC, Six Point Holdings, LLC, Steven M. Mariano (hereinafter
collectively, “Borrower’s Affiliates”), shall not directly or indirectly solicit, write,
process, or service insurance policies for any of Borrower’s or GIC’s customers and shall not
directly or indirectly attempt to divert any of Borrower’s or GIC’s customers from continuing to
do business with Borrower’s successor to the assets or operations of Borrower. Borrower and
Borrower’s Affiliates agree that this prohibition is reasonable and necessary and that the credit
extended to Borrower is ample consideration for this restriction. Borrower and Borrower’s
Affiliates understand that Borrower and Borrower’s Affiliates are not prohibited from working for
any other company or in any particular line of work, but that this covenant not to solicit or
divert only restricts the Borrower and Borrower’s Affiliates from conducting business similar to
Borrower’s or contacting in person, by telephone, by mail, or by any other means, those customers
or potential customers that Borrower and/or Borrower’s Affiliates worked with while employed by
Borrower or GIC or operating the business of the Borrower comprising part of the Collateral. For
the purposes of this Agreement, “customer” shall mean retail customers as well as any
other Insurance Entities who produce or process policies through Borrower or GIC or who obtain
services through Borrower or GIC.

     (b) Borrower shall enforce, for the continued benefit of Lender, all non-solicitation
agreements or non-compete agreements currently in force between Borrower, Steve M. Mariano and
Paul V.H. Halter, III.

     10. PROTECTION OF COLLATERAL. If Lender confirms that the income from operations of
Borrower or GIC has materially declined (from conditions, circumstances or events other than
adverse claims activity) when compared with the income from operations of Borrower or GIC from
prior quarters or years and/or Lender confirms that GIC’s ratios mandated by the NAIC, South
Carolina Department of Insurance or other regulatory body have materially declined when compared
with the ratios from prior quarters or years and Lender reasonably believes that such decline
indicates a material negative trend, Lender may require Borrower to enter into an agreement with
a consultant approved by Lender pursuant to which management of

8

 

Borrower and GIC agree to work with consultant to conduct specified corrective activities each
month and/or enter into an agreement pursuant to which a consultant approved by Lender works with
management of Borrower and GIC to analyze Borrower’s or GIC’s operations. Furthermore, in
the event Steven M. Mariano or Paul V.H. Halter III, dies, becomes disabled, abandons the business
operations of Borrower or GIC or other materially adverse extenuating circumstance pertaining to
Borrower or GIC occurs, Lender may require Borrower to retain a consultant approved by Lender to
assist management in the operation of Borrower’s or GIC’s business until qualified replacement
management can be retained or, subject to any necessary regulatory approvals, Borrower’s or GIC’s
business can be sold to another person. Borrower acknowledges that if any such agreement is
required, neither Lender nor Lender’s approved consultant guarantees the efficacy of such
arrangement in preserving or increasing the value of Borrower’s or GIC’s assets. Furthermore,
any rights exercised by Lender pursuant to this paragraph shall not be construed as a waiver by
Lender of any other rights or remedies it may have pursuant to this Agreement or any other Loan
Document or under applicable law or in equity. The cost of such consultant shall be paid by
Borrower from Borrower’s revenues; provided, however, if Borrower’s revenues are insufficient to
pay for such consultant, the cost shall initially be paid by Lender and reimbursed by Borrower
upon demand.

     11. PREPAYMENT PREMIUM. Any promissory note(s) executed by Borrower which evidence the Loan
shall provide for a prepayment premium equal to the Prepayment Percentage (as defined herein) of
the principal loan balance Borrower prepays. The “Prepayment Percentage” shall be
10% during the first twelve (12) months following Loan origination, 8% during the second twelve
(12) months following Loan origination (that is, months 13 through 24), and 6% during the third
twelve (12) months following Loan origination (that is, months 25 through 36). This prepayment
premium shall not apply after the thirty-sixth month following Loan origination.

     12. JOINT AND SEVERAL OBLIGATIONS. All obligations and liabilities of Borrower under this
Agreement and any other Loan Document to which SH, BIH and PRS are a party shall be the joint and
several obligations of each entity which constitutes Borrower.

     13. FUTURE ADVANCES. Borrower and Lender acknowledge that the Loan is a single advance loan,
and that neither Lender nor Borrower contemplates future advances under the Loan Documents.

     14. LEGAL INTEREST LIMITATIONS. It is the intent of Borrower and Lender to conform strictly to
all applicable state and federal usury laws. All agreements between Borrower and Lender, whether
now existing or hereafter arising and whether written or oral, are hereby expressly limited so that
in no contingency or event whatsoever, whether by reason of acceleration of the maturity of the
Loan or otherwise, shall the amount contracted for, charged or received by Lender for the use,
forbearance, or detention of the money to be loaned under this Agreement or any other Loan Document
or otherwise, or for the payment or performance of any covenant or obligation contained herein or
in any other document evidencing, securing or pertaining to the indebtedness evidenced hereby which
may be legally deemed to be for the use, forbearance or detention of money, exceed the maximum
amount which Lender is legally entitled to contract for, charge or collect under applicable state
or federal law. If from any circumstance whatsoever fulfillment of any provision hereof or of
such other documents, at the

9

 

time performance of such provision shall be due, shall involve transcending the limit of
validity prescribed by law, then the obligation to be fulfilled shall be automatically reduced to
the limit of such validity, and if from any such circumstance Lender shall ever receive as
interest or otherwise an amount in excess of the maximum that can be legally collected, then such
amount which would be excessive interest shall be applied to the reduction of the principal
indebtedness of the Loan and any other amounts due with respect to the Loan evidenced by the Loan
Documents, but not to the payment of interest; and if such amount which would be excessive
interest exceeds the unpaid balance of principal of the Loan and all other non-interest
indebtedness described above, then such additional amount shall be refunded to Borrower. All sums
paid or agreed to be paid by Borrower for the use, forbearance or detention of the indebtedness of
Borrower to Lender shall, to the extent permitted by applicable law, be amortized, prorated,
allocated and spread throughout the full term of such indebtedness until payment in full so that
the amount of interest on account of such indebtedness does not exceed the maximum permitted by
applicable law throughout the term thereof. The terms and provisions of this paragraph shall
control and supersede every other provision of all agreements between Borrower and Lender.

     15. GOVERNING LAW AND VENUE. Notwithstanding any other provision of this Agreement or any
other Loan Document, this Agreement and all Loan Documents shall be construed and governed by the
laws of the State of Kansas except to the extent that the perfection of the interests in any of
the Collateral is governed by the laws of a jurisdiction other than the State of Kansas or except
to the extent that the laws of a jurisdiction other than the State of Kansas are required to
govern any enforcement or foreclosure action with respect to any of the Collateral. At Lender’s
option, jurisdiction and venue for any dispute arising under or in relation to this Agreement
will lie only in Phillips County, Kansas or a U.S. District Court having jurisdiction over
Phillips County, Kansas. In the event that a lawsuit or administrative proceeding is brought with
respect to this Agreement or any other Loan Document, the prevailing party shall be entitled to
be reimbursed for, and/or have judgment entered with respect to, all of its costs and expenses,
including reasonable attorneys’ fees and legal expenses.

     16. INTERPRETATION. Provisions in the Loan Documents are intended to be cumulative. To the
extent that any of the provisions of this Agreement conflict with any other provisions of this
Agreement or those of any other Loan Document, the provision which provides Lender the most
protection and grants Lender the greatest rights shall control. Likewise, if the provisions of any
Loan Document conflict with those of any other Loan Document, the provision which provides Lender
the most protection and grants Lender the greatest rights shall control.

     17. AMENDMENTS. This Agreement may not be modified, revised, altered, added to or extended in
any manner, or superseded other than by an instrument in writing signed by all the parties hereto.
No waiver of any provision hereof shall be effective unless agreed to in writing by all parties
hereto. Any modification or waiver shall only be effective for the specific instance and for the
specific purpose for which given. Borrower agrees and acknowledges that Lender may also be
required to obtain the approval of other persons before entering into an amendment or granting a
waiver.

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     18. FAILURE TO ENFORCE NOT A WAIVER. The failure by Lender to enforce any provision of this
Agreement shall not be in any way construed as a waiver of any such provision nor prevent Lender
thereafter from enforcing each and every other provision of this Agreement.

     19. COUNTERPARTS. This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original and shall be binding upon any party executing the same and all
of which together shall constitute one and the same instrument which shall represent the agreement
of the parties hereto. This Agreement shall become effective when all parties hereto have executed
a counterpart hereof.

     20. INVALIDITY OR UNENFORCEABILITY. The invalidity or unenforceability of any particular
provision of this Agreement shall not affect the other provisions hereof, and this Agreement
shall, at the option of Lender (i) be construed in all respects as if such invalid or
unenforceable provisions were omitted; or (ii) not be stricken, but be reformed to the extent
required to be enforceable under and comply with applicable law and as reformed shall be fully
enforceable.

     21. BINDING EFFECT; CONSTRUCTION OF PROVISIONS. This Agreement shall be binding upon and
inure to the benefit of the parties hereto and their heirs, administrators, personal and legal
representatives, successors and assigns; provided, however, Borrower may not assign its rights,
duties or obligations under this Agreement (whether voluntarily, involuntarily or by operation of
law) without the prior written consent of Lender, which consent may be granted or withheld in the
sole and absolute discretion of Lender. As used in this Agreement, words of masculine, feminine or
neuter gender shall mean and include the correlative words of the other genders, and words
importing the singular number shall mean and include the plural number, and vice versa. As used in
this Agreement, the terms “person,” “Person” or “party” shall mean any individual, sole
proprietorship, partnership, limited liability company, joint venture, trust, unincorporated
organization, association, corporation, institution, entity or government (whether Federal,
state, county, city, municipal or otherwise, including, without limitation, an
instrumentality, division, agency, body or department thereof). No inference in favor of, or
against, any party shall be drawn from the fact that such party has drafted all or any portion of
this Agreement or any other Loan Document.

     22. SURVIVAL. This Agreement shall create and constitute the continuing obligation
of the parties hereto in accordance with its terms, and shall remain in full force and effect until
the Loan is paid in full. The provisions of paragraph 9(a) hereof shall be continuing and
shall survive any termination of this Agreement.

     23. INTEGRATION. This Agreement (including all exhibits and addenda hereto) together with
the other Loan Documents contains the entire agreement between the parties hereto with respect to
the subject matter hereof and shall supersede and take precedence over any and all prior
agreements, arrangements or understandings between the parties relating to the subject matter
hereof. No oral understandings, oral statements, oral promises or oral inducements exist. No
representations, warranties, covenants or conditions, express or implied, whether by statute or
otherwise, other than as set forth herein, have been made by the parties hereto. By signing below,
Borrower and Lender affirm that no oral agreement between them exists.

11

 

     24. WAIVER OF JURY TRIAL. Borrower hereby expressly waives any right to a trial by jury in any
action or proceeding to enforce or defend any rights under this Agreement or any other Loan
Document, instrument or document delivered or which may in the future be delivered in connection
herewith.

     25. WAIVER
OF MARSHALING OF ASSETS. Borrower waives all rights to require any marshaling
of Borrower’s assets.

     26. COMMERCIAL LOAN. Borrower and Lender agree that the credit extended hereunder
represents a commercial loan and is not a consumer loan subject to the UCCC.

     27. NOTICES. Notices which may be required to be sent by Lender or Borrower in accordance
with this Agreement or any other Loan Document shall be sent to the address set forth below or
such other address as may be designated by such party provided notice of such change in address
has been given to the other party. Notices shall be deemed effective if in writing, and shall be
delivered by hand or mailed by United States Mail, postage prepaid, mailed by certified mail, with
return receipt requested, or sent by express courier with date of receipt confirmed. The effective
date of notice shall be the day of delivery by hand; if mailed by regular mail, four business days
following the mailing thereof; and, if by certified mail or express courier, the date of receipt
thereof:

	 	 	 	 	 
	Lender’s Address:

	 	Borrower’s Addresses:
	 	 
	 

	 	 	 	 
	Brooke Credit Corporation

	 	SunCoast Holdings, Inc./	 	 
	10950 Grandview Dr., Ste. 600

	 	Brandywine Insurance Holdings, Inc./	 	 
	Overland Park, KS 66210

	 	Patriot Risk Services, Inc.	 	 
	 

	 	401 East Las Olas Blvd.	 	 
	 

	 	Fort Lauderdale, FL 33301	 	 
	 

	 	Attention: Steven M. Mariano	 	 

     28. TIMELINESS. Timeliness and punctuality are essential elements of this Agreement.

     29. ANTI-TERRORISM, ETC. Borrower represents and warrants to Lender that neither the
Borrower, nor any owner, member, affiliate, partner, director, officer or manager of Borrower, nor
any affiliate, parent, child or spouse of any individual Borrower (collectively for this paragraph,
“Borrower”) supports terrorism, provides money or financial services to terrorists, or is
engaged in terrorism, is on the current U.S. government list of organizations that support
terrorism, or has engaged in or been convicted of fraud, corruption, bribery, money laundering,
narcotics trafficking or other crimes, and all are eligible under applicable U.S. immigration laws
to be in the United States and perform the obligations set forth in this Agreement. Borrower
further warrants and represents that Borrower is not identified by a government or legal authority
as a person with whom Lender is prohibited from transacting business and that it will notify Lender
in writing immediately of the occurrence of any event that renders the foregoing representation and
warranties incorrect.

12

 

     30. ADDITIONAL LOAN SPECIFIC COVENANTS. So long as the Loan is outstanding and
unpaid, Borrower agrees with Lender as follows:

     (a) Prior to payment in full of all obligations under the Loan Documents, SH shall maintain,
on a consolidated basis with all of its direct and indirect subsidiaries, stockholder’s equity
exceeding $5,500,000 in the aggregate on a GAAP basis;

     (b) Without Lender’s prior written consent, which consent shall not be unreasonably withheld,
delayed or conditioned, from the date hereof until December 31, 2006, GIC shall maintain
policyholders’ surplus in excess of $13,500,000 as computed and measured on a GAAP basis.
Commencing on January 1, 2007 and extending through the date upon which all payment obligations
are satisfied under the Loan Documents, GIC shall maintain policyholders’ surplus in excess of
$14,500,000 as computed and measured on a GAAP basis;

     (c) Prior to payment in full of all obligations under the Loan Documents, without Lender’s
prior written consent, which consent shall not be unreasonably withheld, delayed or conditioned,
Steven M. Mariano shall not (i) directly or indirectly hold an ownership interest greater than
twenty-five percent (25%) in, or (ii) be employed by or have any contracts or agreements with, any
other insurance-related business with the exception of Borrower, the entities through which Mr.
Mariano holds an ownership interest in SH, GIC, and The Tarheel Group, Inc., a Delaware
corporation and its direct and indirect subsidiaries (“Tarheel”). Without Lender’s prior
written consent, which shall not be unreasonably withheld, delayed or conditioned, Mr. Mariano
shall not devote more than 10% of his time in the aggregate to the Tarheel business, or the
business of InServe Corporation, prior to payment in full of all obligations under the Loan
Documents;

     (d) Without Lender’s prior written consent, which consent may be granted or withheld in the
sole and absolute discretion of Lender, prior to payment in full of all obligations pursuant to the
Loan Documents, Borrower shall not pay dividends on its outstanding capital stock;

     (e) Prior to payment in full of all obligations pursuant to the Loan Documents, Borrower shall
(i) provide Lender or Lender’s authorized designee with notices of all meetings of shareholders and
boards of directors of Borrower and GIC so that such notices are given to Lender concurrently with
the giving of such notices to such shareholders or directors; (ii) allow, and cause to be allowed,
Lender or Lender’s authorized designee to attend such meetings so long as Lender or its designee
provides Borrower with notice of its intention to attend such meetings within a reasonable time
prior to the meeting and such notice includes Lender’s or its designee’s reason for wanting to
attend; and (iii) promptly provide to Lender or its authorized designee, upon demand, all minutes
and other records of such meetings as Lender may request;

     (f) Without Lender’s prior written consent, which consent shall not be unreasonably withheld,
delayed or conditioned, except in the ordinary course of business; Borrower shall not directly or
indirectly make any loans or advances (in cash or through payments in kind) to any person,
including Borrower’s Affiliates and persons affiliated with Borrower. For the purposes of this
paragraph, any loans or advances shall be deemed not in the ordinary course of business unless such
loans or advances are related to the financing of premiums payable to GIC by

13

 

persons unaffiliated with Borrower and/or trade receivables of persons unaffiliated with
Borrower;

     (g) Within fifteen (15) business days, Borrower shall notify Lender in writing of any
material changes in Borrower’s and GIC’s business operations, which includes, but is not limited
to the following: (i) GIC or Borrower having received any notification regarding concern or action
from the South Carolina Department of Insurance or any other regulator on the subject of financial
condition or solvency, (ii) GIC or Borrower having received any notification regarding concern or
action from the NAIC or having experienced any material changes in its reinsurance contracts or
coverage amounts or any change in its regulatory status, (iii) Borrower or GIC having incurred or
experienced any material adverse financial circumstance, condition or results, (iv) if Borrower or
GIC shall have any of their respective licenses or permits suspended, terminated or revoked by any
governmental or regulatory authority, or (v) if the sums payable under any material insurance
company contracts, servicing contracts or other contract are modified or terminated in any
material respect;

     (h) Prior to payment in full of all obligations pursuant to the Loan Documents, Borrower
will not change its state of organization or name without the prior written consent of Lender,
which consent will not be unreasonably withheld, delayed or conditioned;

     (i) Prior to the payment in full of all obligations pursuant to the Loan Documents, all of
the reinsurance contracts of GIC shall provide for commercially reasonable terms and conditions;

     (j) Prior to the payment in full of all obligations pursuant to the Loan Documents Borrower
shall, and shall cause GIC to: (i) maintain errors and omissions coverage reasonably acceptable
to Lender, but with limits no lower than One Million Dollars ($1,000,000) per claim One Million
Dollars ($1,000,000) aggregate; and (ii) and maintain such other coverage as is commercially
reasonable. At Lender’s request, Borrower shall provide evidence of such insurance; and/or

     (k) Without Lender’s prior written consent, which shall not be unreasonably withheld, the
Tarheel Group, Inc., Tarheel Insurance Management Company and/or Foundation Insurance Company
(each a “Run off Company”) shall not materially change their operations, which Borrower
represents to Lender as being inactive or in run off. Furthermore, without Lender’s prior written
consent, which shall not be unreasonably withheld, delayed or conditioned, no business written or
conducted by or through Borrower or GIC shall be commenced, transferred or diverted to any Run
off Company.

     (l) SPECIFIC AMENDMENTS TO COMMERCIAL LOAN AGREEMENT.

     (i) LATE
CHARGES. The paragraph title “LATE CHARGES” on page 1 of the Agreement is amended
and restated in its entirety to read as follows:

          “LATE CHARGES. If a payment is made more than five (5) days after it is due, Borrower will pay
a late charge of 5% of the amount due and not paid.”

14

 

     (ii) COVENANTS. Sub-paragraph 3 under the paragraph titled “COVENANTS”, on page 2 of the
Agreement, is amended and restated in its entirety to read as follows:

     “(3) inspect Borrower’s Property, audit for the use and disposition of the
Property’s proceeds; or do whatever else Lender may decide is reasonably necessary to
preserve and protect the Property and Lender’s interest in the Property.”

     (iii) GENERAL PROVISIONS. The final sentence under the sub-paragraph “Waivers and Consent”
under GENERAL PROVISIONS on page 2 of the Agreement, is amended and restated in its entirety to
read as follows:

     “Lender may participate or syndicate the Loan and share any information that the
Lender decides is necessary about Borrower and the Loan with other participants, provided
such other participants are required to keep such information confidential.”

     31. NOTICE. The following provision is inserted in this Agreement for purposes
of complying with K.S.A. Section 16-118(b):

     THIS AGREEMENT AND THE “LOAN DOCUMENTS” AS DEFINED HEREIN COLLECTIVELY CONSTITUTE THE WRITTEN
CREDIT AGREEMENT WHICH IS THE COMPLETE AND FINAL EXPRESSION OF THE CREDIT AGREEMENT BETWEEN LENDER
AND BORROWER WITH REGARD TO THE EXTENSION OF CREDIT, FORBEARANCE AND/OR FINANCIAL ACCOMMODATION
REFERRED TO HEREIN AS THE SAME EXIST TODAY AND SUCH WRITTEN CREDIT AGREEMENT MAY NOT BE
CONTRADICTED BY EVIDENCE OF ANY PRIOR ORAL CREDIT AGREEMENT BETWEEN LENDER AND
BORROWER. THE PARTIES AGREE THAT ALL NONSTANDARD TERMS OF THE CREDIT AGREEMENT BETWEEN
LENDER AND BORROWER WITH RESPECT TO THE EXTENSION OF CREDIT, FORBEARANCE AND/OR FINANCIAL
ACCOMMODATION PROVIDED FOR HEREIN AND ALL PRIOR ORAL CREDIT AGREEMENTS AND
CONTEMPORANEOUS ORAL CREDIT AGREEMENTS BETWEEN THEM WITH RESPECT TO THE EXTENSION OF CREDIT
REFERRED TO HEREIN ARE SUFFICIENTLY SET FORTH HEREIN AND IN THE OTHER “LOAN DOCUMENTS,”
WITHOUT EXCEPTION. BY SIGNING AND DELIVERING THIS AGREEMENT, BORROWER AND LENDER AFFIRM
THAT NO UNWRITTEN ORAL CREDIT AGREEMENT BETWEEN BORROWER AND LENDER WITH REGARD TO THE AFORESAID
EXTENSION OF CREDIT, FORBEARANCE AND/OR OTHER FINANCIAL ACCOMMODATION EXISTS.

     Nonstandard terms of credit agreement:

     None.

Initials:

	 	 	 	 	 	 	 	 	 
	Lender	 	SH	 	 	BIH	 	 	PRS

[Remainder of page intentionally left blank; Signature page immediately follows]

15

 

     IN WITNESS WHEREOF, the parties have executed and delivered this Addendum to Commercial Loan
Agreement as of the 30th of March, 2006.

	 	 	 	 	 	 	 	 	 	 	 
	BORROWER:	 	 	 	LENDER:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	SUNCOAST HOLDINGS, INC.	 	 	 	BROOKE CREDIT CORPORATION	 	 
	a Delaware corporation	 	 	 	a Kansas corporation	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Steven M. Mariano
	 	 	 	By:
	 	/s/ Michael S. Lowry	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	Name:

	 	Steven M. Mariano
	 	 	 	Name:
	 	Michael S. Lowry	 	 
	Title:

	 	President and Chief Executive Officer
	 	 	 	Title:
	 	President	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	BRANDYWINE INSURANCE	 	 	 	 	 	 	 	 
	HOLDINGS, INC.	 	 	 	 	 	 	 	 
	a Delaware corporation	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Steven M. Mariano	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	Name:

	 	Steven M. Mariano	 	 	 	 	 	 	 	 
	Title:

	 	President and Chief Executive Officer	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	PATRIOT RISK SERVICES, INC.	 	 	 	 	 	 	 	 
	a Delaware corporation	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Steven M. Mariano	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	Name:

	 	Steven M. Mariano	 	 	 	 	 	 	 	 
	Title:

	 	President and Chief Executive Officer	 	 	 	 	 	 	 	 

16

 

AGREEMENT NOT TO SOLICIT

The undersigned individuals agree to and are bound by the covenants set forth in paragraph
9(a) herein and specifically acknowledge that the covenants contained in said paragraph are
reasonable and necessary and that the undersigned have received ample consideration for same.

	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	Steven M. Mariano	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	The Tarheel Group, Inc.	 	 	 	Malvern Investment Group, LLC	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Steven M. Mariano
	 	 	 	By:
	 	/s/ Steven M. Mariano	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	Its:

	 	 	 	 	 	Its:	 	 	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Tarheel Insurance Management Company	 	 	 	Six Point Holdings, LLC	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Steven M. Mariano
	 	 	 	By:
	 	/s/ Steven M. Mariano	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	Its:

	 	 	 	 	 	Its:	 	 	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Foundation Insurance Company	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Steven M. Mariano	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	Its:
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 

17

 

EXHIBIT I

Reports

MONTHLY, QUARTERLY & YEARLY REPORTING

	1.	 	All reports and reconciliations are to be provided to Lender under this Agreement in either
hard copy or electronic format.
	 
	2.	 	All agreed end-of-month accounting, financial and management reports shall be reconciled and
delivered on-line or in print within twenty-one (21) days following month-end, or if a
Borrower or GIC is required to file a similar report with a regulator, within 15 business days
after the date such filing is required to be filed with the regulator.
	 
	3.	 	Such reports may include, but are not limited to, information and statistical data required
by regulators such as the National Association of Insurance Commissioners (NAIC), Insurance
Services Office (ISO), catastrophe pools, reinsurers, or any other reports reasonably
requested to monitor and evaluate the subject business.
	 
	4.	 	Other Reports may be requested.
	 
	5.	 	Mandatory Reports:
	 
	 	 	SunCoast Holdings, Inc.:

Balance Sheet (monthly)

Income Statement (monthly)

Cash Flow (quarterly)

	 	 	Brandywine Insurance Holdings, Inc.:

Balance Sheet (monthly)

Income Statement (monthly)

Cash Flow (quarterly)

	 	 	Guarantee Insurance Company:

Quarterly Statutory Financial Reports including Balance Sheet, Income Statement, Cash Flow

Statement, and Loss Development Exhibits, including IRIS Ratios and Risk Based Capital

Annual Actuarial Reserve Report

Annual Statutory Financial Report including IRIS Ratios and Risk Based Capital

Monthly Written, Earned, Incurred Summary

18

 

	 	 	Patriot Risk Services, Inc.:

Quarterly Statutory Financial Reports including Balance Sheet, Income Statement, Cash Flow

Statement, and Loss Development Exhibits, including IRIS Ratios and Risk Based Capital

Annual Actuarial Reserve Report

Annual Statutory Financial Report including IRIS Ratios and Risk Based Capital

Monthly Written, Earned, Incurred Summary

19

 

CONSENT

in relation to

ADDENDUM TO COMMERCIAL LOAN AGREEMENT

Dated as of March 30, 2006

     THIS
CONSENT (“Consent”) dated as of August 2nd , 2007 is entered into by and
among SUNCOAST HOLDINGS, INC., a Delaware corporation (“SH”), BRANDYWINE INSURANCE
HOLDINGS, INC., a Delaware corporation
(“BIH”) and PATRIOT RISK SERVICES, INC., a Delaware
corporation (“PRS”) (SH, BIH and PRS collectively and jointly and severally referred to as
“Borrower”), and BROOKE CREDIT CORPORATION, a Kansas
corporation (“Lender”).

1. Preliminary Statements

     A. Reference is made to the Addendum to Commercial Loan Agreement dated as of March 30, 2006
among the Borrower and Lender (“Agreement”).

     B. The Agreement provides, including in paragraphs 8(b) (j) and 30(g), that Borrower will
maintain an employment agreement with Paul V.H. Halter III and that he will not resign, be removed
or be replaced as an executive officer of Borrower or Guarantee Insurance Company (“GUARANTEE”)
without consent of Lender, In addition, the resignation or removal of Paul V.H. Halter would
trigger a default if he is not replaced within 180 days of such resignation or removal by
individuals deemed capable and competent by a majority of the independent members of the board of
directors.

     C. Paul V.H. Halter III has resigned from all duties with Borrower and
GUARANTEE and Borrower intends for Steve Mariano to take over the duties of and replace Paul V.H.
Halter III as President and Chief Operating Officer of GUARANTEE.

     D. The Agreement provides in several places, including sections 8(e) and 30(g) and (h), that
GUARANTEE’S State of domicile is South Carolina and that material changes to GUARANTEE’S business
operations are subject to consent of Lender.

     E. GUARANTEE wants to change its state of domicile from South Carolina to Florida.

     F. As part of the Agreement, Lender holds a security interest in Borrowers assets including as
set forth in section Seven and in the related Loan Documents.

     G. Among other security, Lender is secured by all of BIH’s right, title and interest in
GUARANTEE whether evidenced by stock certificates or otherwise, together with all dividends and
other income, payments and distributions of any kind payable to BIH in its capacity as the sole
stockholder of GUARANTEE.

     H. Borrower intends to expand the areas in which it does business to Kansas, Arizona,
Pennsylvania, and Illinois.

     I. The underwriting guidelines set forth as an attachment to the Agreement limited the
areas in which the Borrower could do business at the time of loan closing.

1 of 3

 

     J. At the time of loan closing the Borrower was not authorized to conduct business in Kansas,
Arizona, Pennsylvania, or Illinois.

     NOW, THEREFORE, in consideration of the premises set forth above, and other good and valuable
consideration the receipt of which is hereby acknowledged, the parties hereto agree as follows:

1.
Exception to the Management Exception

     The Borrower and the Lender hereby agree that from the date hereof, the Borrower is
authorized to replace Paul V.H. Halter III as President and Chief Operating Officer of GUARANTEE
with Steve Mariano, who is already employed by GUARANTEE, until such time as Lender authorizes any
other management change.

2.
Exception to the State of Domicile Exception

(a) The Borrower and the Lender hereby agree that from the date hereof,
GUARANTEE’s redomestication to the state of Florida is authorized provided all necessary
regulatory and other approvals are obtained and further provided all of Lender’s security
interest as defined in the Loan Documents remains enforceable;

(b) Borrower will execute all documents necessary to ensure Lender’s security interest
continues to be perfected and maintains is priority position, including signing new UCC’s
and exchanging stock certificates;

(c) All sections of the Agreement and the Loan Documents which reference South Carolina
shall be changed to Florida. The address for all future notices to the Borrower pursuant to
section 27 of the Agreement will be 401 East Las Olas Boulevard, Suite 1540 Fort
Lauderdale, FL 33301. This change is made until such time as Lender authorizes another
change of domiciliary state.

3.
Exception to the Geographic Territory Exception

     The Borrower and the Lender hereby agree that from the date hereof, the Borrower is
authorized to expand the geographic territory in which it conducts business to include the states
of Kansas, Arizona, Pennsylvania, and Illinois and only the states of Kansas, Arizona,
Pennsylvania, and Illinois, provided all necessary regulatory and other approvals are obtained and
further provided Lender’s security interest as defined in the Loan Documents remains enforceable.
This change is made until such time as Lender authorizes expansion to an additional state or
states.

4. Conditions Precedent

     This Consent shall become effective as of the date hereof and upon execution of this Consent
by SH, BIH, PRS and Lender.

5.
Reference to and Effect on the Agreement

     A. Except as specifically provided herein, the Agreement, the other Related Loan Documents and
all other documents, instruments, and agreements executed and/or delivered in connection therewith
shall remain in full force and effect and are hereby ratified and confirmed.

2 of 3

 

     B. Except as specifically provided herein, the execution, delivery, and effectiveness of this
Consent shall not operate as a waiver of any right, power, or remedy of the Lender under the
Agreement, the Related Loan Documents, or any other document, instrument, or agreement executed in
connection therewith, nor constitute a waiver of any provision contained therein.

6.
Governing Law

     THIS CONSENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF
KANSAS.

7. Execution in Counterparts

     This Consent may be executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed and delivered shall be deemed to be an
original and all of which taken together shall constitute but one and the same instrument. Delivery
of an executed counterpart of this Consent by facsimile shall be effective as delivery of a
manually executed counterpart of this Consent.

8. Headings

     Section headings in this Consent are included herein for convenience of reference only and
shall not constitute a part of this Consent for any other purpose.

IN WITNESS WHEREOF, the parties hereto have caused this Consent to be executed by their respective
officers thereunto duly authorized as of the date first written above.

	 	 	 	 	 	 	 	 	 	 	 
	LENDER:	 	 	 	BORROWER:	 	 
	BROOKE CREDIT CORPORATION	 	 	 	SUNCOAST HOLDINGS, INC.,	 	 
	a Kansas corporation	 	 	 	a Delaware Corporation	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	/s/ [ILLEGIBLE]	 	 	 	/s/ Steven M. Mariano	 	 
	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	By:
	 	Steven M. Mariano	 	 
	Its:

	 	 	 	 	 	Its:
	 	President	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	BRANDYWINE INSURANCE	 	 	 	PATRIOT RISK SERVICES, INC.,	 	 
	HOLDINGS, INC.,	 	 	 	a Delaware corporation	 	 
	a Delaware corporation	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	/s/ Steven M. Mariano	 	 	 	/s/ Josie Graves	 	 
	 	 	 	 	 	 	 
	By:

	 	Steven M. Mariano
	 	 	 	By:
	 	Josie Graves	 	 
	Its:

	 	President
	 	 	 	Its:
	 	President	 	 

3 of 3exv10w14

Exhibit 10.14

					
	
SunCoast Holdings, Inc., Brandywine Insurance Holdings, Inc.,

and Patriot Risk Services, Inc.
	  	 Brooke Credit Corporation 
 
10950 Grandview Dr. Ste. #600
Overland Park, KS 66210
	  	  
 Loan Number 5137

	401 East Las Olas Blvd. Suite 1540	  	 	  	Date 03-30-2006
	Ft. Lauderdale, FL 33301	  	 	  	Maturity Date 04-15-2016
	 	  	 	  	Loan Amount $8,652,000.00
	 	  	 	  	Renewal Of ___________________
	BORROWER’S NAME AND ADDRESS	  	LENDER’S NAME AND ADDRESS	  	 
	“I” includes each borrower above, jointly and severally.	  	“You” means the lender, its successors and assigns.	  	 

  
 For value received, I promise to pay
to you, or your order, at your address listed above the PRINCIPAL sum of eight million six hundred fifty two thousand
and no/100 Dollars $8,652,000.00 
  

	x	Single Advance: I will receive all of this principal sum on 03-30-2006. No additional advances are contemplated under this note. 

  

	 ̈	Multiple Advance: The principal sum shown above is the maximum amount of principal I can borrow under this note. On ______________________ I will receive the amount of
$___________________ and future principal advances are contemplated. 

  
 Conditions: The conditions for future advances are
                                        
                                        
                                        
   

  
                                       
                                        
                                        
                                        
                                        
           
  
                                       
                                        
                                        
                                        
                                        

           
  

	 	 ̈	Open End Credit: You and I agree that I may borrow up to the maximum amount of principal more than one time. This feature is subject in all other conditions and expires on
_________________________. 

  

	 	 ̈	Closed End Credit: You and I agree that I may borrow up to the maximum only one time (and subject to all other conditions). 

  

	INTEREST: 	I agree to pay interest on the outstanding principal balance from 03-30-2006 at the rate of 12.000% per year until 03-31-2006. 

  

	x	Variable Rate:
This rate may then change as stated below. 

  

	 	x	Index Rate: The future rate will be 4.500 percent above the following index rate: Prime Rate, as published in The Wall Street Journal. 

  

	 	 ̈	No Index: The future rate will not be subject to any internal or external index. It will be entirely in your control. 

  

	 	x	Frequency and Timing: The rate on this note may change as often as every day beginning 03-31-2006. A change in the interest rate will take effect_______________________.

  

	 	 ̈	Limitations: During the term of this loan, the applicable annual interest rate will not be more than ______________% or less than ____________%. The rate may not change more than
____________________% each ______________________. 

  

	  	Effect of Variable Rate: A change in the interest rate will have the following effect on the payments: 

  

	 	x	The amount of each scheduled payment will change.          ̈  The amount of the final payment will change. 

   

 

	 	 ̈	                                      
                                        
                                        
                                        
                               . 

  
 ACCRUAL METHOD: Interest will be calculated on a Actual/365 basis. 
  
 POST MATURITY RATE: I agree to pay interest on the unpaid balance of this note owing
after maturity, and until paid in full, as stated below: 
  

	 	x	on the same fixed or variable rate basis in effect before maturity (as indicated above). 

  

	 	 ̈	at a rate equal to
                                        
                                        
                                        
                                        
    . 

  

	x	LATE CHARGE: If a payment is made more than 5 days after it is due, I agree to pay a late charge of 5.000% of the payment amount. 

  

	 ̈	ADDITIONAL CHARGES: In addition to interest, I agree to pay the following charges which  ̈ are  ̈ are not included in the principal amount above: __________________________________________________________________________________________________________.

  
 PAYMENTS: I agree to pay this note as follows:

  
 120 monthly payments of $ 124,835.82 beginning 05-15-2006. This is a variable rate loan and the payment amounts may change. 
  

ADDITIONAL TERMS:

[1] See Commercial Loan Agreement and Addendum thereto dated March 30, 2006.

[2] The term following day referred to in "Frequency and Timing" above refers to the next business day following a change in the Prime Rate as reported in The Wall Street Journal.

[3] As referenced in "Effects of Variable Rate" above, the payments will change on the 15th day of the calendar month following the month during which the rate changed.

[4] Notwithstanding any other provision of this Note, Borrower shall
pay a prepayment premium equal to 10% during the first twelve [12]
months following date of Note, 8% during the second twelve [12] months following date at Note [that is, months 13 through 24], and 6% during the third twelve [12] months following date of Note [that is, months 25 through 36].
This prepayment premium shall not apply after the thirty-sixth month following the date of Note.

[5] See Addendum A dated March 30, 2006 attached hereto and incorporated herein by this reference.

					
	 x     SECURITY: This note is separately secured by (describe
separate document by type and date): Security Agreement and Stock Pledge
Agreements related hereto, each dated March 30, 2006.
[This section is for your internal use. Failure to list a separate security document does not mean the agreement will not secure this note.]

	 	 	  	PURPOSE: The purpose of this loan is set forth in the Commercial Loan Agreement dated March 30, 2006 __________________________________________________

			
	 	 	 	  	SIGNATURES: I AGREE TO THE TERMS OF THIS NOTE (INCLUDING THOSE ON PAGE 2). I have received a copy on today’s date.
			
	 	 	 	  	 
			
	Signature for Lender	 	 	  	   SunCoast Holdings, Inc., Brandywine Insurance Holdings, Inc., Patriot Risk Services, Inc. 

	 	 	 	  	   
			
	 /s/ Michael S. Lowry
	 	 	  	/s/ Steven M. Mariano
	Michael S. Lowry, President	 	 	  	Steven M. Mariano, CEO and President of SunCoast Holdings, Inc.

	 
	  
	 	 	  	/s/ Steven M. Mariano
	 	 	 	  	Steven M. Mariano, CEO and President of Brandywine Insurance Holdings, Inc.

	 
	  
	 	 	  	/s/ Steven M. Mariano
	 	 	 	  	Steven M. Mariano, CEO and President of Patriot Risk Services Inc.
			
	 	 	 	  	 
			
	 UNIVERSAL NOTE
	 	 	  	 

  

			
	

    © 1984, 1991 Bankers Systems, Inc., St. Cloud, MN Form UN 2/4/2002	  	(page 1 of 2)

 

DEFINITIONS:
As used on page 1, “þ “ means, the
terms that apply to this loan. “I,” “me” or “my”
means each Borrower who signs this note and each
other person or legal entity (including
guarantors, endorsers, and sureties) who agrees
to pay this note (together referred to as “us”).
“You” or “your” means the Lender and its
successors, and assigns. 

APPLICABLE LAW: The law
of the state in which you are located will
govern this note. Any term of this note which
is contrary to applicable law will not
be effective, unless the law permits you and me
to agree to such a variation. If any
provision of this agreement cannot be enforced according to its terms, this fact
will not affect the enforceability of the
remainder of this agreement. No modification of
this agreement may be made without your express
written consent. Time is at the
essence in this agreement.

COMMISSIONS OR OTHER REMUNERATION: I understand
and agree that any insurance premiums paid to
insurance companies as part of this note will
involve money retained by you or paid back to
you as commissions or other remuneration.

     In addition, I understand and agree that
some other payments to third parties of
this note may also involve money retained by
you or paid back to you as commissions or other
remuneration. 

PAYMENTS: Each payment I make on
this note will first reduce that amount I owe
you for charges which are neither interest nor
principal. The remainder of each payment will
then reduce accrued unpaid interest, and then
unpaid principal. If you and I agree to a
different application of payments, we will
describe our agreement on this note. I may
prepay a part of, or the entire balance of
this loan without penalty, unless we specify
to the contrary on this note Any partial
prepayment will not excuse or reduce any later
scheduled payment until this note is paid in
full (unless, when I make the prepayment, you
and I agree in writing to the contrary).

INTEREST: Interest accrues on the principal
remaining unpaid from time to time, until paid
in full. If I receive the principal in
more than one advance, each advance will start
to earn interest only when I receive the advance.
The interest rate in effect on this note at any
given time will apply to the entire principal
advanced at that time. Notwithstanding anything
to the contrary, I do not agree to pay and you do
not intend to charge any rate of interest that
is higher than the maximum rate of interest you
could charge under applicable law for the
extension of credit that is agreed to here
(either before or after maturity). If any notice of
interest accrual is sent and is in error, we
mutually agree to correct it, and if you
actually  collect more interest than allowed by
law and this  agreement, you agree to refund it
to me.

INDEX RATE: The index will serve only as a
device for setting the rate on this note. You
do not guarantee by selecting this index, or
the margin, that the rate on this note will
be the same rate you charge on any other loans
or class of loans to me or other borrowers.

ACCRUAL METHOD: The amount
of interest that I
will pay an this loon will be calculated using
the interest rate and accrual method stated on
page 1 of this note. For the purpose of
interest calculation, the accrual method will
determine the number of days in a “year.” If no
accrual method is stated, then you may use
any reasonable accrual method for calculating
interest.

POST MATURITY RATE: For purposes of deciding
when the “Post Maturity Rate” (shown on page 1)
applies, the term “maturity” means the date at
the last scheduled payment indicated on page 1
of this note or the date you accelerate payment
on the note, whichever is earlier. SINGLE
ADVANCE LOANS. If this is a single advance
loan, you and I expect that you will make only
one advance of principal. However, you may add
other amounts to the principal if you make any
payments described In the “PAYMENTS BY LENDER”
paragraph below. MULTIPLE ADVANCE LOANS: If
this is a multiple advance loan, you and I
expect that you will make more than one advance
of principal. If this is closed end credit,
repaying a part of the principal will not
entitle me to additional credit.

PAYMENTS BY LENDER: If you are
authorized to pay, on my behalf, charges I
am obligated to pay (such as property insurance
premiums,) then you may treat those payments
made by you as advances and add them to the
unpaid principal under this note, or you may
demand immediate payment of the charges.

SET-OFF: I agree that you
may set off any
amount due and payable under this note against
any right I have to receive money from you,

     “Right to receive money from you” means:

     [1] any deposit account balance I have with you;

     [2]
any money award to me on an item presented to you or in your
possession for collection or exchange: and

     [3]
any repurchase agreement or other nondeposit
obligation,

     “Any
amount due and payable under this note” means the total amount of which you
are entitled to demand payment under the terms
of this note at the time you set-off. This
total includes any balance the due date for
which you properly accelerate under this note.

     If
my right to receive money from you is
also owned by someone who has not agreed to
pay this note, your right of set-off will
apply to my interest in the obligation and to
any other amounts I could withdraw on my sole
request or endorsement. Your right of set-off does not apply to an
account or other obligation
where my rights are only as a representative, it
also does not apply to any Individual Retirement
Account or other tax-deferred retirement
account.

     You
will not be liable for the dishonor of any check when the dishonor
occurs because you set-off this debt against any of my accounts. I agree to hold you harmless
from any such claims arising as a result of your exercise of your
right of set-off

REAL ESTATE OR RESIDENCE
SECURITY: If this note is secured by real estate or a residence
that is personal property, the existance of a default and your
remedies for such a default will
be determined by applicable law, by the terms of any separate insument creating the security
interest and, in the extent not prohibited by law and not contrary in the terms of the
separate security Instrument, by the “Default” and
“Remedies” paragraphs herein.

DEFAULT: I will be in default  if any one or more of the following occur: (1)
I fail to make a payment on time or in the amount due; (2) I fail to keep the property insured, if required; (3) I fail to
pay, or keep any promise, on any debt or agreement I have with you; (4) any other creditor of mine attempts to collect any
debt I owe him through  court proceedings; (5) I die, am declared insolvent (either because my liabilities exceed my assets
or I am unable to pa my debts as they become due); (6) I make any written statement or provide any financial information
that is untrue or inaccurate at the time it was provided; (7) I do or fail to do something which causes you to believe that
you will have difficulty collecting the amount I owe you; (8) any collateral securing this note is used in a manner or for
a purpose which threatens confiscation by a legal authority; (9) I change my name or assume an additional name without first
notifying you before making such a change; (10) I fail to plant, cultivate and harvest crops in due season if I am a
producer of crops; (11) any loan proceeds are used for a purpose that will contribute to excessive erosion of highly
erodible land or to the conversion of wetlands to produce an agricultural commodity, as further explained in 7 C.F.R.
Part 1940, Subpart G, Exhibit M.

REMEDIES: If I am in
default on this note you have, but are not limited to the following
remedies:

     (1) You
may demand immediate payment of all I owe you under this
note [principle accrued unpaid Interest and other accured
charges].

     (2) You
may set-off this debt against any right I have to the payment
of money from you. subject to the terms at the set-off paragraph herein.

     (3) You
may demand security, additional security, or additional parties to be obligated to pay
this note, as a condition for not using any other remedy.

     (4) You
may refuse to make advances to me or allow purchases on credit by me.

     (5) You
may use any remedy you have under state or federal law. By selecting
any one or more of those remedies you do not give up your right to later use any other remedy. By waiving your
right to declare an event to be a default, you do not waive your right to later
consider the event as a default if It continues or happens again. COLLECTION COSTS AND
ATTORNEY’E FEES: I agree to pay all costs of collection, replevin or any other or similar type of
cost If I am in default. In addition, if you hire an attorney to collect this note, I also agree
to pay any fee you incur with such attorney plus court costs (except where prohibited by law). To
the extent permitted by the United States Bankruptcy Code, I also agree to pay the reasonable
artorney’s fees and cost you Incur to collect this debt as awarded by any court exercising
jurisdiction under the Bankruptcy Codo.

     WAIVER:
I Give up my rights to require you to do certain things. I will not require you to

	 	 	[1] demand payment of amounts due presentment;
	 
	 	 	[2] obtain official certification of nonpayment protest; or
	 
	 	 	[3] give notice that amounts due have not been paid
(notice of dishonor).

     I
waive any defences I have based an notice of dishonor or impairment
of collateral

OBLIGATIONS INDEPENDENT: I understand that I must pay this note even someone else has also
agreed to pay It (by, for example, signing this loan or a separate guarantee or endorsement. You
may sue me alone, or, anyone else who is obligated on this note,
or any number of Us together, to
collect this note, You may do so without any notice that it has not been paid (notice
of dishonor). You may without notice release any party to this
agreement without releasing any other party. If you give up any of
your rights, with or without notice, it will not affect my duty to
pay this note. Any extention of new credit to any of us, or renewal of this note by all
of less than all us will not release me from my duty to pay it.
[Of course, you are
entitled to one payment in full] I agree that you may at your option
extend this note or the debt
represented by this note, at any portion of the note or debt from time to time without limit
or notice and for any term without affecting my liability for payment
of the note. I will not
assign my obligation under this agreement without your prior written
approval,

FINANCIAL INFORMATION: I agree to provide you, upon request, any financial statement or
information you may deem necessary. I warrant tha the financial
statement and information I
provide to you are or will be current, correct and complete.

NOTICE: Unless otherwise
required by law, any notice to me shall be given by delivering it or
mailing it by first class mail addressed to me at my last known address. My current address is on
page 1. I agree to inform you in writing of any change in my address. I will give any notice to
you by mailing. It first class to your address dated on page 1 of this
agreement or to any other address that you have designated.

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	DATE OF	 	PRINCIPAL	 	 	BormnwErrs INIITIALSS	 	 	PRINCIPAL	 	 	PRINCIPAL	 	 	INTEREST	 	 	INTEREST	 	 	INTEREST	 
	TRANSACTION	 	ADVANCE	 	 	(elegal)	 	 	PAYMENTS	 	 	BALANCE	 	 	RATE	 	 	PAYMENTS	 	 	PAID	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	(elegal)	 	 	 	 	 
	 
	 	$	 	 	 	 	 	 	 	$	 	 	 	$	 	 	 	 	%	 	 	$	 	 	 	 	 	 
	 
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	 	$	 	 	 	 	 	 	 	$	 	 	 	$	 	 	 	 	%	 	 	$	 	 	 	 	 	 
	 
	 	$	 	 	 	 	 	 	 	$	 	 	 	$	 	 	 	 	%	 	 	$	 	 	 	 	 	 
	 
	 	$	 	 	 	 	 	 	 	$	 	 	 	$	 	 	 	 	%	 	 	$	 	 	 	 	 	 
	 
	 	$	 	 	 	 	 	 	 	$	 	 	 	$	 	 	 	 	%	 	 	$	 	 	 	 	 	 
	 
	 	$	 	 	 	 	 	 	 	$	 	 	 	$	 	 	 	 	%	 	 	$	 	 	 	 	 	 
	 
	 	$	 	 	 	 	 	 	 	$	 	 	 	$	 	 	 	 	%	 	 	$	 	 	 	 	 	 
	 
	 	$	 	 	 	 	 	 	 	$	 	 	 	$	 	 	 	 	%	 	 	$	 	 	 	 	 	 
	 
	 	$	 	 	 	 	 	 	 	$	 	 	 	$	 	 	 	 	%	 	 	$	 	 	 	 	 	 
	 
	 	$	 	 	 	 	 	 	 	$	 	 	 	$	 	 	 	 	%	 	 	$	 	 	 	 	 	 

 

ADDENDUM A TO PROMISSORY NOTE

     This Addendum to Promissory Note is made to and a part of the Promissory Note, dated March 30,
2006 (the “Note”), signed and delivered by SUNCOAST
HOLDINGS, INC., a Delaware corporation
(“SH”),
BRANDYWINE INSURANCE HOLDINGS, INC., a Delaware corporation
(“BIH”) and PATRIOT RISK SERVICES,
INC., a Delaware corporation (“PRS”) (SH, BIH and PRS collectively and jointly and severally
referred to as “Borrower”), to Brooke Credit Corporation, a Kansas corporation (“Lender”).

     The Promissory Note paragraph on page 2 entitled “DEFAULT” is hereby deleted in its entirety
and is replaced by the following:

     DEFAULT:
Borrower shall be in default if any one or more of the following occur:

	 	(1)	 	Borrower makes any written statement or provides any financial
information that is untrue or inaccurate at the time it was/is provided and
within 30 days of written notice to Borrower by Lender, Borrower fails to take
the action necessary to make the written statement or financial information
provided to Lender true and accurate;
	 
	 	(2)	 	Any collateral securing this note is used in a manner or for a purpose
which threatens confiscation by a legal authority;
	 
	 	(3)	 	Any Borrower changes its name or assumes an additional name
without first notifying Lender before making such a change; and/or
	 
	 	(4)	 	An Event of Default continues under the terms of the Commercial
Loan Agreement signed by Borrower of even date herewith after the expiration of
any applicable notice, grace and/or cure periods.

[Remainder of page intentionally left blank; Signature page immediately follows]

 

 

     IN WITNESS WHEREOF, the parties have executed and delivered this Addendum to
Promissory Note as of the 30th of March, 2006.

	 	 	 	 	 	 	 	 	 	 	 
	BORROWER:	 	 	 	LENDER:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	SUNCOAST HOLDINGS, INC.	 	 	 	BROOKE CREDIT	 	 
	CORPORATION a Delaware corporation	 	 	 	a Kansas corporation	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Steven M. Mariano
	 	 	 	By:	 	 	 	 
	 

	 	 

	 	 	 	 	 	 

	 	 
	Name: Steven M. Mariano	 	 	 	Name: Michael S. Lowry	 	 
	Title: President and Chief Executive Officer	 	 	 	Title: President	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	BRANDYWINE INSURANCE	 	 	 	 	 	 	 	 
	HOLDINGS, INC.	 	 	 	 	 	 	 	 
	a Delaware corporation	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Steven M. Mariano	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	Name: Steven M. Mariano	 	 	 	 	 	 	 	 
	Title: President and Chief Executive Officer	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	PATRIOT RISK SERVICES, INC.	 	 	 	 	 	 	 	 
	a Delaware corporation	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Steven M. Mariano	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	Name: Steven M.Mariano	 	 	 	 	 	 	 	 
	Title: President and Chief Executive Officer

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