Document:

EX-10.1

 Exhibit 10.1 

EXECUTIVE OFFICER EMPLOYMENT AGREEMENT 

This Executive Officer Employment Agreement (this “Agreement”) is being entered into as of August 19, 2022 but effective
as of September 1, 2022 (the “Effective Date”) by and between AMERISAFE, Inc., a Texas corporation with its principal place of business in DeRidder, Louisiana (the “Company”) and Anastasios Omiridis, a competent
individual of the lawful age of majority who will principally render his services in DeRidder, Louisiana (the “Employee”). 

WITNESSETH: 
 WHEREAS, Employee
desires to induce the Company to continue to employ him and Employee desires to continue to engage in an employment relationship with the Company and the Company desires to induce Employee to continue his employment with the Company and the Company
desires to continue an employment relationship with Employee under the specific terms and conditions as set forth below; 
 NOW, THEREFORE,
in exchange for good and valuable consideration, the sufficiency and receipt of which is hereby acknowledged and in exchange for the mutual covenants and obligations contained in this Agreement, the Company and Employee hereby covenant and agree as
follows: 
  

	1.	 Employment. 

  

	 	(a)	 The Company hereby agrees to employ Employee, and Employee hereby accepts such employment with the Company, for
the period set forth in Section 2 hereof, subject to the terms and conditions hereinafter set forth. 

  

	 	(b)	 Employee affirms and represents that he is under no obligation to any former employer or other person or entity
which is in any way inconsistent with, or which imposes any restriction upon, Employee’s employment hereunder with the Company, the employment of Employee by the Company, or Employee’s undertakings under this Agreement.

  

	2.	 Term of Employment. Unless earlier terminated as provided in this Agreement, the term of Employee’s
employment under this Agreement shall be for a period beginning on the Effective Date and ending on March 1, 2025; provided, however, that this Agreement shall automatically renew for successive one year periods, unless
either party shall notify the other in writing not less than thirty (30) days prior to the third anniversary date or any successive anniversary date that such party does not intent to renew this Agreement. Such period, plus any annual renewal
periods, or, if Employee’s employment hereunder is earlier terminated as provided herein and including termination pursuant to Section 9, or such shorter period, is sometimes referred to herein as the “Employment Term”.

	3.	 Duties. Employee shall be employed by the Company as a senior executive officer of the Company and shall
endeavor in good faith to competently perform such duties as inherent in Employee’s employment or any designated job position or as specified by the Company and shall also perform and discharge such other employment duties and responsibilities
as the Board of Directors shall from time to time reasonably determine, not inconsistent with Employee’s position as a senior executive officer with the Company. Employee shall also comply with any
By-Laws of the Company, as applicable. Employee shall perform Employee’s duties principally at the offices of the Company at 2301 Highway 190 West, DeRidder, Louisiana, with such travel to such other
locations from time to time as the Board of Directors or the Chief Executive Officer of the Company may reasonably request. Except as may otherwise be approved in advance by the Board of Directors of the Company, and except during vacation periods
and reasonable periods of absence due to sickness, injury or disability, Employee shall devote Employee’s full time throughout the Employment Term to the services required of Employee hereunder; provided that the foregoing shall not prohibit
Employee from engaging in reasonable charitable, civic, and community activities. Employee shall render Employee’s business services exclusively to the Company and its subsidiaries and affiliate entities during the Employment Term and shall use
his good faith efforts, judgment and energy to improve and advance the business and interests of the Company and its subsidiaries in a manner consistent with the duties of Employee’s position. Employee shall diligently, prudently,
professionally, and responsibly perform his duties and shall discharge his employment utilizing his best faith efforts and prudent judgment with a high degree of proficiency and competency and for the exclusive interest of the Company.

  

	4.	 General Compliance, Code of Ethics and Conflicts of Interest. 

 

	 	(a)	 Employee shall comply with all applicable laws and regulations (federal, state and local) and shall comply with
all applicable directives, orders, and regulations of any governmental agency or regulatory body including federal, state, and local agencies and bodies. Employee shall also comply with all policies and procedures of the Company and directives of
the Board of Directors. Employee understands, acknowledges and agrees that he holds a position of trust and that fiduciary duties and responsibilities may apply under applicable law and that these duties and responsibilities may be continuing in
nature, even after separation from employment. Employee agrees to fully and faithfully perform and discharge all such duties, responsibilities, and obligations. 

 

	 	(b)	 Employee has an obligation to act in an ethical manner in dealings with the Company, with co-employees, with customers and any third party. In this regard, Employee is required to be honest, forthright and to not take any action or make statements or engage in any conduct which is unethical, improper or
which could create the appearance of impropriety. In addition, Employee shall not engage in any conduct, take any actions or make statements which negatively reflect upon Company or in any way harm or potentially cause harm to the Company’s
image, reputation or good will. 

  

	 	(c)	 Employee must also ensure that he does not engage in any conflict of interest. In this regard, Employee shall
not engage in any activity or conduct which is contrary to the exclusive interests of or in conflict with the exclusive interests of the Company. All business opportunities presented to Employee during the course and scope of his employment or while
employed with the Company are to be used for the benefit of the Company only. Further, Employee shall not take any position contrary to the Company’s interests or inconsistent with Employee’s employment with the Company.

  
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	5.	 EEO Compliance. Employee shall not engage in any conduct which constitutes or which may be considered an
unlawful employment practice or which violates or could violate any employment practices, equal employment opportunity, discrimination, or retaliation laws or regulations (federal, state, or local). Employee acknowledges that the Company is an Equal
Opportunity Employer and prohibits all forms of unlawful discrimination in the terms and condition of employment, it prohibits all forms of harassment, including sexual harassment, and it prohibits retaliation against any employee who engages in
protected activity. 

  

	6.	 Salary and Bonus. 

 

	 	(a)	 Salary. As compensation for the services to be performed by the Employee hereunder during the Employment
Term, the Company shall pay the Employee a base salary at the annual rate of not less than Four Hundred Fifty Thousand and No/100s Dollars ($450,000) (said amount, together with any increases thereto as may be determined from time to time by the
Compensation Committee of the Board of Directors of the Company (the “Committee”) in its sole discretion, being hereinafter referred to as “Salary”). Any Salary payable hereunder shall be paid in regular intervals in accordance
with the Company’s established and regular payroll practices from time to time in effect, but in no event less than monthly. 

  

	 	(b)	 Bonus. Employee shall be eligible to receive bonus compensation from Company for each fiscal year (or
portion thereof) occurring during the Employment Term in amounts, if any, as may be determined by the Committee in its sole discretion, which may include performance-based criteria or annual incentive plans to be established from time to time by
such Committee in its sole discretion, provided that any such Bonus so awarded shall be paid in the calendar year following the year in which the services for which such Bonus is awarded were performed. 

 

	 	(c)	 Long-Term Incentive Awards. Employee will be eligible to receive long-term incentive awards for each
fiscal year occurring during the Employment Term, in amounts and subject to the terms and conditions, which may include performance-based criteria, as determined by the Committee in its sole discretion. 

 

	 	(d)	 Withholding and Taxes. The payment of any Salary, Bonus, long-term incentive awards and the payment of
any separation pay pursuant to this Agreement, shall be subject to applicable withholding and payroll taxes, and such other deductions as may be required under the Company’s employee benefit plans. 

  
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	7.	 Other Benefits. 

During the Employment Term, Employee shall: 
  

	 	(a)	 be eligible to participate in all employee fringe benefits and pension, retirement or profit sharing plans that
may be provided by the Company for its other senior executive officers in accordance with the provision of any such plans, as the same may be in effect from time to time; 

 

	 	(b)	 be eligible to participate in all medical and health plans or other employee welfare benefit plans that may be
provided by the company for its other senior executive officers in accordance with the provisions of any such plans, as the same be in effect from time to time; 

 

	 	(c)	 be entitled to at least 25 vacation/personal days in each calendar year; Employee shall also be entitled to all
paid holidays given by the Company to its other senior executive officers; 

  

	 	(d)	 be entitled to sick pay and disability benefits in accordance with any Company policy that may be applicable to
other senior executive officers from time to time; 

  

	 	(e)	 be entitled to a car allowance consistent with established Company practices as of the date hereof and which
may be in effect from time to time; 

  

	 	(f)	 be entitled to accrue earned and unused vacation time and carry such unused time forward from year to year
during the Employment Term, provided the amount of accrued and unused time shall not exceed 300 hours at any time during the term hereof; and 

  

	 	(g)	 be entitled to reimbursement for all reasonable and authorized out-of-pocket business expenses incurred by Employee in the performance of Employee’s duties hereunder in accordance with Company policies and practices that may be applicable to senior executive
officers from time to time, provided that such business expenses shall be reimbursed, if at all, not later than the year following that in which such expenses are incurred, and that the amount of expenses eligible for reimbursement during one
taxable year may not affect the amount of expenses eligible for reimbursement in another taxable year. 

  

	8.	 Confidential Information. Employee hereby covenants, agrees and acknowledges as follows:

  

	 	(a)	 Employee has and will have access to and will participate in the development of or be acquainted with
confidential and proprietary information and trade secrets that directly or indirectly relate to the business, prospects, operations and other aspects of the Company and any other present or future subsidiaries and affiliates of the Company
(collectively with the Company, the “Companies”), including but not limited to (1) customer lists; the identity, lists or descriptions of new or prospective 

  
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customers; financial statements; cost reports or other financial information; contract proposals or bidding information, business plans; training and operations methods and manuals; personnel
records; software programs; reports and correspondence; and management systems, policies or procedures, including related forms and manuals; (2) information pertaining to future developments such as future marketing or acquisition plans or
ideas; and (3) all other tangible and intangible property, which are used in the business and operations of the Companies but not made public. The information and trade secrets relating to the business of the Companies described hereinabove in
this paragraph 8(a) are hereinafter referred to collectively as the “Confidential Information”, provided that the term “Confidential Information” shall not include any information (x) that is or becomes publicly available
(other than as a result of violation of this Agreement by the Employee), or (y) that Employee receives or received on a non-confidential basis from a source (other than the Companies or any of their
representatives) that is not prohibited from disclosing such information by a legal, contractual or fiduciary obligation (provided, however that the Employee shall not be deemed to be in violation of this clause 8(a)(y) unless he has actual
knowledge of any such obligation on the party of any such source). “Confidential Information” also includes, but is in no way limited to: financial information, budgets, general plans, business plans, data, trade secrets, computer
software, technical information, research and development, product and service information, processes, insured lists, insured information, renewal and expiration dates, pricing and underwriting information, processes, procedures and standards, sales
information, marketing information, bid information, job or project information, contracts, purchasing information, data processing, formulas, designs, drafts, drawings, systems, specifications, means, techniques, compilations, intellectual
property, inventions, developments and improvements, operational methods, protocols, business strategies, market information, vendor or supplier information, personnel matters and records and matters that are sensitive, business, proprietary and
confidential information. “Confidential Information” also includes, but is in no way limited to, any other proprietary, confidential or business information or documentation which is protected by or which is otherwise defined as trade
secrets under any federal or state trade secret laws including, but in no way limited to, Louisiana’s Uniform Trade Secrets Act (La.R.S. 51:1431, et seq.) or other applicable law. 

 

	 	(b)	 Employee agrees that he will not use, disclose, communicate, disseminate or otherwise make known, directly or
indirectly, any Confidential Information to any person or entity not employed by or directly affiliated with the Company. Additionally, Employee agrees that he will not use any Confidential Information for the benefit of herself or for the benefit
of any other person or entity that is not employed by or affiliated with the Company or in any way that may be directly or indirectly competitive with or detrimental to the interests of the Company. 

  
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	 	(c)	 In the event that Employee receives an order or subpoena from a court of competent jurisdiction and venue or an
order or subpoena from a governmental agency with jurisdiction and authority, Employee shall, within forty-eight (48) hours of receipt of such order or subpoena, immediately notify, by telephone communication and in writing, the Company’s
Chief Executive Officer and Employee shall provide the Company’s Chief Executive Officer with a copy of any such order or subpoena and Employee shall notify Company’s Chief Executive Officer of whether or not he intends to comply with the
order or subpoena and Employee shall cooperate with the Company in any action it takes in order to protect its rights or to contest or dispute the disclosure of Confidential Information pursuant to such order or subpoena. 

 

	 	(d)	 Employee acknowledges and agrees that a remedy at law for any breach or threatened breach of the provisions of
this Section 8 would be inadequate and, therefore, agrees that the Company shall be entitled to injunctive relief in addition to any other available rights and remedies in case of any such breach or threatened breach; provided, however, that
nothing contained herein shall be construed as prohibiting the Company from pursuing any other rights and remedies available for any such breach or threatened breach. 

 

	 	(e)	 Employee agrees that upon termination or separation of Employee’s employment with the Company for any
reason, Employee shall immediately return to the Company all Confidential Information in Employee’s possession in whatever form maintained (including, without limitation, computer disks and other electronic and digital media).

  

	 	(f)	 The obligations of the Employee under this Section 8 shall, except as otherwise provided herein, survive
the termination of the Employment Term or the termination or separation of Employee’s employment with the Company to the maximum period allowed by applicable law. 

 

	 	(g)	 The obligations of the Employee under this Section 8 do not prevent you from providing information to
government authorities regarding possible legal violations without prior notice to the Company, participate in investigations, testify in proceedings regarding the Company’s past or future conduct, engage in any future activities protected
under the whistleblower statutes administered by any government agency (e.g., EEOC, NLRB, SEC, etc.) or to receive and fully retain a monetary award from a government administered whistleblower award program for providing information directly to a
government agency. 

  

	9.	 Termination. 

  

	 	(a)	 Employee’s employment hereunder shall be terminated upon the occurrence of any of the following:

  

	 	(i)	 death of the Employee (Death); 

 

	 	(ii)	 Employee’s inability to perform his duties or the essential functions of his job, with or without
accommodation, on account of disability or incapacity for a period of one hundred eighty (180) or more days, whether or not consecutive, within any period of twelve (12) consecutive months (Disability); 

  
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	 	(iii)	 Company Termination for Cause (as defined herein); 

 

	 	(iv)	 Company Termination Without Cause (as defined herein); 

 

	 	(v)	 Employee Termination for Good Cause (as defined herein); or 

 

	 	(vi)	 Employee Termination Without Good Cause (as defined herein). 

 

	 	(b)	 As used in this Agreement, “Company Termination for Cause” shall mean a termination of
Employee’s employment by action of the Board of Directors or the Chief Executive Officer (or their or his/her designee) at any time, including during the Employment Term, based on any one or more of the following: 

 

	 	(i)	 Employee’s conviction, guilty plea or plea of nolo contendere to any felony, or to any crime of
moral turpitude; 

  

	 	(ii)	 the willful misconduct of Employee, or the willful or continued failure by Employee (except as a result of
Disability or illness) to substantially perform his duties to the Company, in either case which has a material adverse effect on Company; or 

  

	 	(iii)	 the willful fraud or material dishonesty of Employee in connection with his performance of duties to the
Company; 

 provided, however, that no Company Termination for Cause shall be deemed to have occurred unless
Employee is first given the opportunity to cure any acts or omissions giving rise to a Company Termination for Cause (other than those acts or omissions set forth in subsection 9(b)(i)) within 30 days of Employee’s receipt of notice of such
acts or omissions. 
  

	 	(c)	 For purposes of this Agreement, “Company Termination Without Cause” shall mean a termination of
Employee’s employment by the Company or the Company’s nonrenewal of this Agreement for any reason or on any grounds other than a “Company Termination for Cause.” 

 

	 	(d)	 For purposes of this Agreement, “Employee Termination Without Good Cause” shall mean a termination or
resignation of employment by Employee or Employee’s nonrenewal of this Agreement for any reason or for any grounds other than an “Employee Termination for Good Cause.” 

 

	 	(e)	 For purposes of this Agreement, “Employee Termination for Good Cause” shall mean Employee’s
termination of or resignation from Employment or Employee’s nonrenewal of this Agreement for any one or more of the following reasons: 

  

	 	(i)	 a material diminution in Employee’s authority, duties or responsibilities; 

 

	 	(ii)	 a material reduction in Employee’s Salary; 

  
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	 	(iii)	 a material reduction in the Employee’s ability to earn an annual Bonus that results in a material
reduction in the total annual compensation Employee may earn; 

  

	 	(iv)	 a termination of Employee’s participation in employee benefits provided or existing as of the Effective
Date unless such termination of employee benefits is applicable to all senior executive officers of the Company or unless termination is required or directed under the terms and conditions of any applicable benefit plans, summary plan descriptions,
insurance policies or applicable law; 

  

	 	(v)	 the relocation of Employee’s principal place of employment to a location more than 35 miles from
Employee’s principal place of business; or 

  

	 	(vi)	 a material breach by the Company of this Agreement or any other agreement governing Employee’s employment
by the Company; 

 provided, however, that Employee may not terminate or separate employment for purposes of
Employee Termination for Good Cause unless (i) within 60 days after the date on which Employee obtains actual knowledge of the condition or event giving rise to Employee Termination for Good Cause, Employee gives notice to the Company that
Employee does not wish to remain in the employ of the Company as a result of such condition or event, (ii) the Company does not cure such condition or event within 30 days after receiving the notice described in the preceding clause (i), and
(iii) Employee terminates employment within 180 days after the date on which Employee obtains actual knowledge of the existence of such condition or event. Any failure by Employee to terminate employment within such 180 day period after the
initial existence of any condition or event giving rise to Employee Termination for Good Cause shall constitute a waiver by Employee of the Employee’s right to claim an Employee Termination for Good Cause as a result of such condition or event.

  

	 	(f)	 In the event that Employee’s employment is terminated at any time by a Company Termination Without Cause
or an Employee Termination for Good Cause, for a twelve month period following the effective date of such termination, the Company shall pay monthly (as severance, termination pay, separation pay, contract payout, compensation, or liquidated
damages) (i) the monthly Salary that would have otherwise been payable to the Employee during such period, and (ii) an amount equal to one-twelfth of the average of the three Bonuses (other than any
Bonuses granted to Employee under any plan or program that provides incentive compensation based on a performance period of more than one year, including any Long-Term Incentive Award granted under the AMERISAFE, Inc. 2022 Equity and Incentive
Compensation Plan or any successor plan) most recently awarded under 6(b) and under predecessor agreements (or, if less than three, the average of all Bonuses awarded under 6(b) and under predecessor agreements). Each such monthly payment shall be
treated as a separate payment for purposes of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and will be 

  
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paid during such period in accordance with the Company’s then existing payroll practices, methods, or pay periods. In addition, in the event that Employee’s employment is terminated at
any time by a Company Termination Without Cause or an Employee Termination for Good Cause, the Company will pay or reimburse Employee for a twelve month period following such termination the actual cost of COBRA continuing health coverage premiums,
to the extent COBRA is applicable and Employee elects COBRA continuing health coverage. In this regard, if Employee is eligible for COBRA continuing health benefits and if Employee timely elects COBRA continuing health care coverage, the Company
will pay and/or reimburse up to a maximum of twelve months of COBRA continuing health care coverage premiums provided that such COBRA premiums shall be reimbursed, if at all, not later than the year following that in which such premiums are
incurred, and that the amount of premiums eligible for reimbursement during one taxable year may not affect the amount of premiums eligible for reimbursement in another taxable year. It shall be at Company’s option and discretion to either pay
the COBRA premiums directly or to reimburse Employee for premiums that Employee pays for COBRA continuing health coverage. Any premiums or amounts due for COBRA continuing health coverage beyond the twelve month period referenced above shall be at
the sole cost and expense of Employee and will not be paid or reimbursed by the Company. The above described obligations of the Company (continuation of Salary and Bonus for a twelve month period following and payment of COBRA premiums for a twelve
month period following Company Termination Without Cause or Employee Termination for Good Cause) shall be the exclusive remedies and payment obligations and no other amounts or obligations will be due and owing by the Company to Employee. In this
regard, Company Termination Without Cause and Employee Termination for Good Cause may be effectuated at any time during the Employment Term or renewal and the only amounts that Company will be obligated or required to pay are the amounts calculated
according to the formulas set forth above. 

  

	 	(g)	 Notwithstanding anything to the contrary expressed or implied herein, except as required by applicable law and
except as set forth in Section 9(f) above, the Company shall not be obligated to make any payments to the Employee or on his behalf of whatever kind or nature by reason of the Employee’s cessation of employment (including, without
limitation, by reason of a Company Termination for Cause, Employee Termination Without Good Cause, Death or Disability), other than (i) such amounts, if any, of Employee’s Salary and Bonus as shall be accrued, earned and remained unpaid as
of the effective date of employment separation and (ii) such other amounts, if any, which may be then otherwise payable to the Employee pursuant to the terms of the Company’s benefits plans or pursuant to Section 7 above. Any Bonus
amounts due the Employee following a cessation of employment shall be paid following the end of the fiscal year at the same time Bonus payments are made to other employees. 

  
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	 	(h)	 To the extent that a payment becomes due to Employee under this Agreement by reason of Employee’s
termination of employment, the term “termination of employment” will have the same meaning as “separation from service” under Section 409A of the Code. Notwithstanding anything to the contrary expressed or implied herein, if
the Company makes a good faith determination that a payment under the Agreement (i) constitutes a deferral of compensation for purposes of Section 409A of the Code, (ii) is made to Employee by reason of his separation from service and
(iii) at the time such payment would otherwise be made Employee is a “specified employee” within the meaning of Section 409A of the Code, the payment will be delayed until the first day of the seventh month following the date of
such termination of employment to the extent required by Section 409A of the Code. 

  

	10.	 Restrictive Covenants: Non-Competition and Non-Solicitation. 

  

	 	(a)	 Introduction. The restrictive covenants set forth in this Agreement prohibiting competition and
solicitation shall apply during the “Restricted Period,” as defined herein, in the “Restricted Area,” as defined herein. Employee acknowledges and understands that one of the principal causes and considerations of the Company
employing or continuing to employ Employee in a senior executive officer position is the restrictive covenants to which Employee is obligated under this Agreement. Employee further acknowledges and agrees that he will be granted access to and will
be provided confidential, business and proprietary information and trade secrets of the Company and that he will have access to and will be provided confidential information and data to which only senior executive officers have access and that the
provision and access of such information constitutes additional consideration in exchange for the restrictive covenants contained herein. Additionally, the Company will continue to be providing to Employee special and unique training opportunities
and experience and he will be obtaining knowledge, experience and skills through employment with the Company that may not otherwise be obtained or acquired by Employee. 

 

	 	(b)	 Restricted Period. For purposes of this Agreement, the “Restricted Period” shall mean the
Employment Term plus: 

  

	 	(i)	 in the event that the employment of the Employee is terminated by a Company Termination Without Cause or
Employee Termination For Good Cause, a period of twelve months. As such, the Restricted Period would be the Employment Term and duration of employment and would extend beyond termination or separation for twelve months; or 

 

	 	(ii)	 in the event that the employment of the Employee is terminated by the Company by a Company Termination For
Cause, or by Employee’s Termination Without Good Cause, the Restricted Period shall expire upon the effective date of Employee’s separation of employment; provided, however, in such event, the Company shall have the exclusive option and
absolute right of extending the Restrictive Period for a period of twelve months following the effective date of the termination or separation of employment if Company: (1) delivers written notice to the Employee irrevocably exercising such
option before employment termination or 

  
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separation or within 180 days after employment separation or termination and (2) agrees to pay and does pay the Employee the payments provided for under Section 9(f) of this Agreement
for such twelve month period. If Company exercises this option and right and complies with the requirements for same, the Restrictive Period shall be extended beyond the employment separation effective date for the twelve month period designed and
Employee agrees and acknowledges that Employee is bound by such restrictive covenants for the Restrictive Period. 

  

	 	(c)	 Definition of Restricted Area. The term “Restricted Area” shall mean the states, parishes,
counties and municipalities designated in Attachment “A” which is incorporated herein by reference as if copied in extension. 

  

	 	(d)	 Business of the Company. Employee acknowledges and understands that the “business” of the
Company involves and relates to the underwriting of risks for, the sale of and the servicing of workers’ compensation insurance, general liability insurance and commercial and business insurance product lines and related services. Employee
further acknowledges, agrees and represents that he understands and knows the business in which the Company is engaged and the scope, activities and business pursuits involved in the business of the Company. Employee further acknowledges and
understands that the noncompetition and non-solicitation of customer restrictions in this Agreement prohibit the Employee from engaging, in any capacity or any position, and from conducting any activities or
business similar to that of the Company or that is competitive with the Company and as provided under the specific terms and conditions of this Agreement. 

  

	 	(e)	 Customers of the Company. For purposes of this Agreement, “customers” shall include, but are
not limited to, insured businesses, persons and entities who have or have had insurance coverage with the Company and insurance agents with whom Company has contracts, agreements, arrangements or any type of business, insurance placement or working
relationship. Employee acknowledges and represents that Employee understands the nature of the Company’s customer relationships and who and what comprises its customers. 

 

	 	(f)	 Non-Competition. During the Restricted Period, Employee shall
not engage in any of the following activities in the Restricted Area: 

  

	 	(i)	 Carry on or engage in his own business (as a sole proprietor, corporation, partnership, limited liability
company, limited partnership or any other business entity or business association) in competition with or similar to the business of the Company. 

  

	 	(ii)	 Carry on or engage in a competing business or work similar to or in competition with the business of the
Company as an employee, consultant, board member, officer, manager, representative, contractor, consultant, subcontractor, independent contractor or agent of any other person or entity or in any capacity with or for any other person or entity.

  
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	 	(iii)	 Acquire or have an interest in or an option or other right to acquire an interest in any entity or business
which is carrying on or engaging in a competing business with the Company or in a business similar to that of the Company. The term “an interest” shall include, without limitation, an interest or right as a partner, shareholder, officer,
director, member, general manager, principal, limited partner, owner, trustee, financier, guarantor, surety, mortgagee and lender. 

  

	 	(iv)	 Accept or conduct any business or any transactions with any customer or former customer of the Company or
receive any compensation, remuneration or consideration arising out of, related to or in any associated with any business arrangement or relationship with any customer or former customer of the Company. 

 

	 	(g)	 Non-Solicitation. During the Restricted Period, Employee shall
not engage in the following activities in the Restricted Area: 

  

	 	(i)	 Solicit the customers of the Company. 

 

	 	(ii)	 Solicit the customers or former customers of Employee. 

 

	 	(iii)	 Accept business from any customer of the Company. 

 

	 	(iv)	 Accept business from any customer or former customer of Employee. 

 

	 	(v)	 Service accounts or business of any customers of the Company. 

 

	 	(vi)	 Service accounts or business of any customers or former customers of Employee. 

 

	 	(vii)	 Solicit, induce or attempt to induce any employee of the Company to leave the employ of the Company.

  

	 	(h)	 Application. Company and Employee agree that (i) each of the actions described in this Agreement
constitute “carrying on and engaging in a business similar to that of” Company and the “soliciting customers of” Company, as those terms are used in La.R.S. 23:921, and (ii) this Agreement shall have the broadest possible
meaning and application as allowed under applicable law. Additionally, any future amendment to La.R.S. 23:921 or decisions or rulings of any court of competent jurisdiction which would expand the Company’s rights or impose greater restrictions
on Employee shall apply and shall be enforceable herein. For purposes of this Agreement, the term “solicit” includes, but is in no way limited to, any and all direct and indirect solicitation of business (by Employee or through others) and
the engagement in communications (through any format or medium) for the purpose of or which would in any way facilitate or attempt to generate business, services, work or other business activities with the customer and this shall apply regardless of
whether the customer initiates the contact with Employee or Employee (or another person or entity) initiates the contact with the customer. 

  
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	 	(i)	 Remedies. In the event of breach or threatened or attempted breach of any provision of this Agreement by
Employee, the parties recognize and acknowledge that such a breach would cause irreparable harm to the Company or that the Company may not have an adequate remedy at law and that the restrictive covenants contained in this Agreement are
“obligations not to do” and that the Company shall not be required to prove irreparable injury in order to obtain injunctive relief in the event of any breach or threatened breach of this Agreement. Employee further agree and acknowledge
that if there is any breach or threatened breach of any one or more of the provisions of this Agreement, the Company may, in addition to any other legal or equitable remedies which may be available to it, (i) obtain a temporary restraining
order, preliminary injunction and permanent injunction to enjoin or restrain Employee from the breach or threatened breach of any such provision or provisions without the necessity of posting a bond and (ii) require Employee to account for and
pay over to the Company all compensation, profits, moneys, accruals, increments, remuneration or any other benefits derived or received by Employee as a result of any transactions or actions constituting a breach of any provision of this Agreement.
Company shall also be entitled to recover any damages, attorney’s fees and costs incurred by it in any legal action or to obtain specific performance of or to enforce this Agreement or to remedy any breach of this Agreement. All such remedies
in favor of the Company shall be cumulative and shall not be exclusive. In the event that the Company takes any legal action to enforce this Agreement or to remedy any breach of this Agreement, the Company shall be entitled to recover and the
Employee shall be liable for all attorney’s fees, court costs and expenses incurred by the Company in any such action. 

  

	 	(j)	 Company Designation. As used in this Section 10, “Company” includes Amerisafe, Inc.,
American Interstate Insurance Company, Silver Oak Casualty, Inc., American Interstate Insurance Company of Texas, Amerisafe General Agency, Inc. and any and all predecessor entities, successor entities, affiliate entities, parent companies, assigns
and subsidiaries. The parties acknowledge and agree that the restrictive covenants in this Section 10 enure to the benefit of and operate for the interest of all of the above-mentioned companies and affiliates and said entities are expressly
designated as third party beneficiaries of this Section 10 and the restrictive covenants and obligations imposed on Employee. 

  

	 	(k)	 Construction Reformation and Severability. It is understood and agreed that, should any portion of any
clause or paragraph of this Section 10 be deemed too broad to permit enforcement to its full extent, or should any portion of any clause or paragraph of this Section 10 be deemed unreasonable, invalid or unenforceable, then said clause or
paragraph shall be reformed and enforced to the maximum extent permitted by law. Additionally, if any of the provisions of this Section 10 are ever found by a court of competent jurisdiction to exceed the maximum enforceable (i) periods of
time, (ii) geographic areas of restriction, (iii) scope of noncompetition or nonsolicitation or (iv) description of the Company’s business or customers, or for any other reason, then such unenforceable element(s) of this
Section 10 shall be reformed and reduced to the maximum periods of time, geographic areas of restriction, scope of noncompetition or nonsolicitation or description of the Company’s business that is permitted by law. In this regard, any
unenforceable, unreasonable or overly broad provision shall be reformed or severed so as to permit enforcement to the fullest extent permitted by law and reformation and severability shall apply. 

  
 - 13 - 

	 	(l)	 Reasonableness. Employee acknowledges, represents and agrees that the restrictive covenants in this
Section 10 are reasonable in nature, scope, time and territory and in the terms and conditions set forth herein. Employee acknowledges, represents and agrees that the Company has expended substantial cost in training Employee and that the
Company has provided him with access to valuable information and has provided him with valuable experience. In addition, Employee acknowledges, represents and agrees that the Company has placed Employee in contact with its customers, and has made
Employee part of its business plans. Employee further acknowledges, represents and agrees that Employee would not have obtained such training, experience, contacts and information from other sources without the employment relationship with the
Company. Employee further acknowledges, represents and agrees that the foregoing have occurred or resulted based on the Company’s reliance on these restrictive covenants and Employee’s representations and obligations made herein. Employee
further acknowledges, represents and agrees that this Section 10 and the obligations of Employee under these restrictive covenants are reasonable in order to protect the legitimate interests of the Company. Employee further acknowledges,
represents and agrees that by virtue of his job position, he has become an integral and influential component of the Company’s current and future business plans. It is the Employee’s desire and intent that this Agreement be given full
force and effect. Employee further acknowledges and agrees that enforcement of these restrictive covenants will not create an undue burden or hardship on him and will not impair or prevent him from earning a livelihood based on his own education,
training, experience, qualifications, and skills. 

  

	11.	 Assignment. 

  

	 	(a)	 Neither this Agreement nor any right or interest hereunder shall be assignable by the Employee or his
beneficiaries or legal representatives without the Company’s prior written consent; provided, however, that nothing in this Section 11(a) shall preclude the Employee from designating a beneficiary to receive any benefit payable hereunder
upon his death or incapacity. 

  

	 	(b)	 Except as required by law, no right to receive payments under this Agreement shall be subject to anticipation,
commutation, alienation, sale, assignment, encumbrance, charge, pledge, or hypothecation or to exclusion, attachment, levy or similar process or to assignment by operation of law, and any attempt, voluntary or involuntary, to effect any such action
shall be null, void and of no effect. 

  

	 	(c)	 Company shall have the right, without Employee’s consent, to assign this Agreement and to assign any
rights and obligations under this Agreement to any person or entity including, but in no way limited to, any parent companies, subsidiaries, affiliate entities, predecessors, and successors. 

  
 - 14 - 

	12.	 Binding Effect. Without limiting or diminishing the effect of Section 11 hereof, this Agreement
shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, successors, legal representatives and assigns. 

  

	13.	 Notices. All notices which are required or may be given pursuant to the terms of this Agreement shall be
in writing and shall be sufficient in all respects if given in writing and (i) delivered personally, (ii) five business days after being mailed by certified or registered mail, return receipt requested and postage prepaid, (iii) sent
via a nationally recognized overnight courier, or (iv) sent via facsimile confirmed by certified or registered mail, return receipt requested and postage prepaid, if to the Company at the Company’s principal place of business, and if to
the Employee, at his home address most recently filed with the Company, or to such other address or addresses as either party shall have designated in writing to the other party hereto. 

 

	14.	 Law Governing. This Agreement shall be governed by and construed in accordance with the laws of the
State of Louisiana, without regard to the application of conflicts of laws principles. Employee consents to the jurisdiction and venue of the 36th Judicial District Court, Beauregard Parish, State of Louisiana and, alternatively, the U.S. District
Court for the Western District of Louisiana, Lake Charles Division. 

  

	15.	 Execution and Performance. Employee agrees and understands that this Agreement is being executed, in
whole or in part, in Beauregard Parish, Louisiana. Additionally, performance of this Agreement is to be rendered, in whole or in part, in Beauregard Parish, Louisiana. Employee further understands and acknowledges that the employment relationship
between Employee and the Company is principally centered and based in Beauregard Parish, Louisiana. 

  

	16.	 Severability. The Employee agrees that in the event that any court of competent jurisdiction shall
finally hold that any provision of this Agreement is void or constitutes an unreasonable restriction against the Employee, this Agreement shall not be rendered void but shall apply with respect to such extent as such court may judicially determine
constitutes a reasonable restriction under the circumstances. If any part of this Agreement is held by a court of competent jurisdiction to be invalid, illegible or incapable of being enforced in whole or in part by reason of any rule of law or
public policy, such part shall be deemed to be severed from the remainder of this Agreement for the purpose only of the particular legal proceedings in question and all other covenants and provisions of this Agreement shall in every other respect
continue in full force and effect and no covenant or provision shall be deemed dependent upon any other covenant or provision. Severability and reformation shall apply. 

  
 - 15 - 

 It is understood and agreed that should any portion of any clause or paragraph of this
Agreement be deemed too broad to permit enforcement to its full extent or should any portion of any clause or paragraph of this Agreement be deemed unreasonable, then said clause or paragraph shall be reformed and enforced to the maximum extent
permitted by law. 
  

	17.	 Waiver. Failure to insist upon strict compliance with any of the terms, covenants or conditions hereof
shall not be deemed a waiver of such term, covenant or condition, nor shall any waiver or relinquishment of any right or power hereunder at any one or more times be deemed a waiver or relinquishment of such right or power at any other time or times.

  

	18.	 Entire Agreement; Modifications. This Agreement, with referenced Attachment “A”, constitutes
the entire and final expression of the agreement of the parties with respect to the subject matter hereof and supersedes the Prior Agreement and other prior and contemporaneous agreements, oral and written, between the parties hereto with respect to
the subject matter hereof. This Agreement may be modified or amended only by an instrument in writing signed by both Employee and the Chairman of the Committee, provided, however, that in light of the uncertainty with respect to the proper
application of Section 409A of the Code, the Company reserves the right to make amendments to the Agreement as the Company deems necessary or desirable solely to avoid the imposition of taxes or penalties under Section 409A.

  

	19.	 Counterparts and Multiple Originals. This Agreement may be executed in two or more counterparts and in
multiple originals, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

  

	20.	 Interpretation. The Company and Employee have jointly participated in the negotiations and drafting of
this Agreement. In the event any question of intent or interpretation arises, this Agreement shall be construed and interpreted as if drafted by both parties. 

 

	21.	 References to Attachments. All attachments and other documents which are referred to herein are hereby
incorporated by reference as if copied at length herein. 

  

	22.	 Consultation and Acknowledgment. Employee acknowledges and agrees that Employee has read and understands
this Agreement and its effect, and that Employee has had the opportunity to consult fully and freely with an attorney or other advisor of his choice regarding this Agreement and to have an attorney or advisor review and advise Employee with respect
to this Agreement prior to his entering into this Agreement. Employee further acknowledges that he has carefully read this entire Agreement and understands the nature and extent of the rights and obligations created by this Agreement and that he is
entering into this Agreement voluntarily and without coercion. Employee further acknowledges that this Agreement is being entered into after due thought and consideration and after a mutual and meaningful negotiation between the parties.

 [signature page follows] 

  
 - 16 - 

 IN WITNESS WHEREOF, the parties have executed and delivered this Agreement as of the date
first written above. 
  

			
	AMERISAFE, INC.
		
	By:	 	 /s/ G. Janelle Frost,

		 	G. Janelle Frost,
		 	Chief Executive Officer
	
	EMPLOYEE:
	
	 /s/ Anastasios Omiridis

	Anastasios Omiridis

  
 - 17 - 

 ATTACHMENT “A” 

Employment Agreement 
 “Restricted
Area” 
 The following states constitute the “Restricted Area” for purposes of the Employment Agreement, including Section 10, entitled
“Restrictive Covenants”, entered into between the Company and the Employee: 
 States of Alabama, Alaska, Arkansas, California, Colorado,
Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Mexico, New York, North
Carolina, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Wisconsin and Wyoming. 

  
 - 18 -EX-10.2

 Exhibit 10.2 

AMERISAFE, INC. 
 2022
EQUITY AND INCENTIVE COMPENSATION PLAN 
 RESTRICTED SHARE UNITS AWARD AGREEMENT 

THIS RESTRICTED SHARE UNITS AWARD AGREEMENT (this “Agreement”), dated as of ____________, 20__, is entered into by and between
AMERISAFE, Inc., a Texas corporation (the “Company”), and ____________ (the “Grantee”). Where the context permits, references to the Company shall include any successor to the Company. Any capitalized term that is used, but not
defined, in this Agreement shall have the meaning assigned to such term in the AMERISAFE, Inc. 2022 Equity and Incentive Compensation Plan (as amended from time to time, the “Plan”). 

1. Grant of RSUs. The Company has granted to the Grantee, effective as of ________, 20__ (the “Grant Date”), _____ Restricted
Share Units, subject to all of the terms and conditions of this Agreement (the “RSUs”). Each RSU shall represent the right of the Grantee to receive one Common Share, subject to the terms and conditions set forth in this Agreement. 

2. Restrictions on Transfer. Subject to Section 16 of the Plan, neither the RSUs evidenced hereby nor any interest therein or in
the Common Shares underlying such RSUs shall be transferable prior to payment to the Grantee pursuant to Section 4 hereof other than by will or pursuant to the laws of descent and distribution. 

3. Vesting of RSUs. 

(a) Normal Vesting. Subject to the terms of Sections 3(b) and 3(c), all of the RSUs shall become nonforfeitable
(“Vested,” or similar terms) on ____________, 20__ (the “Normal Vesting Date”), provided that the Grantee remains employed by the Company or a Subsidiary through the Normal Vesting Date. 

(b) Accelerated Vesting. Notwithstanding anything set forth in Section 3(a) to the contrary, if the Grantee dies or
becomes Disabled prior to the Normal Vesting Date, then the following percentage of the RSUs (rounded to the nearest whole RSU) shall become Vested as of the date of such death or Disability (the “Applicable Termination Percentage”): 

 

					
	Date of Termination	  	Applicable
Percentage	 
	 Within six months following the Grant Date
	  	 	0	% 
	 After six months following the Grant Date but within 18 months following the Grant Date
	  	 	33 1/3	% 
	 After 18 months following the Grant Date but within 30 months following the Grant Date
	  	 	66 2/3	% 
	 After 30 months following the Grant Date
	  	 	100	% 

 (c) Vesting Following Change in Control. If a Change in Control occurs prior
to the earlier of (i) the Normal Vesting Date and (ii) the forfeiture of the RSUs pursuant to Section 3(d), and the Grantee’s employment with the Company and its Subsidiaries is terminated subsequent to such Change in Control but
prior to the Normal Vesting Date either (A) by the Company without Cause or (B) by the Grantee for Good Reason, then a percentage of the RSUs equal to the Applicable Termination Percentage set forth in Section 3(b) (rounded to
the nearest whole share) shall become Vested as of the date of such termination. 
 (d) Forfeiture. Upon the termination of
the Grantee’s employment with the Company and its Subsidiaries prior to the Normal Vesting Date for any reason other than those specified in Sections 3(b) or 3(c), the RSUs shall be forfeited. 

(e) Definition of Disability. For purposes of this Agreement, “Disability” means that the Grantee (i) is unable
to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or
(ii) is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a
period of not less than three months under an accident and health plan, or disability plan, covering employees of the Company or a Subsidiary. 

4. Form and Time of Payment of RSUs. 

(a) Payment for the RSUs, after and to the extent they have become Vested, shall be made in the form of one Common Share for
each Vested RSU. Payment shall be made as soon as administratively practicable following (but no later than 30 days following) the date that the RSUs become Vested pursuant to Section 3 hereof. In all events, payment for the RSUs (to the extent
Vested) shall be made within the short-term deferral period for purposes of Section 409A of the Code. 
 (b) The
Company’s obligations to the Grantee with respect to the RSUs will be satisfied in full upon the delivery of Common Shares corresponding to such RSUs. 

5. Dividend, Voting and Other Rights. 

(a) The Grantee shall have no rights of ownership in the Common Shares underlying the RSUs and no right to vote the Common
Shares underlying the RSUs until the date on which the Common Shares underlying the RSUs are issued or transferred to the Grantee pursuant to Section 4 above. 

(b) From and after the Grant Date and until the earlier of (i) the time when the RSUs become Vested and are paid in
accordance with Section 4 hereof and (ii) the time when the Grantee’s right to receive Common Shares in payment of the RSUs is forfeited in accordance with Section 3 hereof, on the date that the Company pays a cash dividend (if
any) to holders of Common Shares generally, the Grantee shall be credited with cash per RSU equal to the amount of such dividend. Any amounts credited pursuant to the immediately preceding sentence shall be subject to the same applicable terms and
conditions (including Vesting, payment and forfeitability) as apply to the RSUs based on which the dividend equivalents were credited, and such amounts shall be paid in cash at the same time as the RSUs to which they relate are settled. 

  
 - 2 - 

 6. Withholding Taxes. To the extent that the Company is required to withhold federal,
state, local or foreign taxes or other amounts in connection with the Vesting or settlement of the RSUs, or any other payment or Vesting event under this Agreement, and the amounts available to the Company for such withholding are insufficient, it
shall be a condition to the receipt of such payment or the realization of such benefit that the Grantee make arrangements satisfactory to the Company for payment of the balance of such taxes or other amounts required to be withheld. If the
Grantee’s benefit is to be received in the form of Common Shares, then, if permitted by the Committee, the Company may withhold a number of Common Shares having a value equal to the amount required to be withheld. The Common Shares used for tax
or other withholding will be valued at an amount equal to the fair market value of such Common Shares on the date the benefit is to be included in the Grantee’s income. Unless otherwise determined by the Committee, the market value of the
Common Shares to be withheld pursuant to this Section 6 to satisfy applicable withholding taxes or other amounts will not exceed the minimum amount of taxes required to be withheld. The Committee may, at its discretion, adopt any alternative
method of providing for taxes to be withheld. Notwithstanding the foregoing, in no event shall the Company be required to withhold or accept Common Shares for payment of any taxes if, in the good faith determination of the Committee, such
withholding or acceptance of Common Shares may result in breach of the terms of an agreement that is currently in effect and to which the Company is a party. 

7. Adjustments. The number of Common Shares issuable for each RSU and the other terms and conditions of the grant evidenced by this
Agreement are subject to mandatory adjustment, including as provided in Section 12 of the Plan. 
 8. Compliance with Law. The
Company shall make reasonable efforts to comply with all applicable federal and state securities laws; provided, however, that notwithstanding any other provision of the Plan and this Agreement, the Company shall not be obligated to issue any Common
Shares pursuant to this Agreement if the issuance thereof would result in a violation of any such law. Notwithstanding anything in this Agreement to the contrary, nothing in this Agreement prevents the Grantee from providing, without prior notice to
the Company, information to governmental authorities regarding possible legal violations or otherwise testifying or participating in any investigation or proceeding by any governmental authorities regarding possible legal violations, and for purpose
of clarity the Grantee is not prohibited from providing information voluntarily to the Securities and Exchange Commission pursuant to Section 21F of the Exchange Act. 

9. Section 409A of the Code. To the extent applicable, it is intended that this Agreement and the Plan comply with or be exempt from
the provisions of Section 409A of the Code. This Agreement and the Plan shall be administered in a manner consistent with this intent, and any provision that would cause this Agreement or the Plan to fail to satisfy Section 409A of the
Code shall have no force or effect until amended to comply with Section 409A of the Code (which amendment may be retroactive to the extent permitted by Section 409A of the Code and may be made by the Company without the consent of the
Grantee). Notwithstanding the foregoing, the Company is not guaranteeing any particular tax outcome, and the Grantee shall remain solely liable for any and all tax consequences associated with the RSUs. 

  
 - 3 - 

 10. Governing Law. This Agreement is made under, and shall be construed in accordance
with, the internal substantive laws of the State of Texas. 
 11. Amendments. Any amendment to the Plan is deemed to be an
amendment to this Agreement to the extent that the amendment is applicable hereto; provided, however, that no amendment may materially impair the rights of the Grantee with respect to the RSUs unless agreed to by the Grantee and the Company, which
agreement must be in writing and signed by the Grantee and the Company; but provided, further, that neither the Grantee’s consent nor a signed writing shall be required with respect to an amendment that is deemed necessary by the Company to
ensure compliance with Section 409A of the Code or Section 10D of the Exchange Act. 
 12. Notices. All notices, requests,
consents and other communications required or provided under this Agreement to be delivered by the Grantee to the Company will be in writing and will be deemed sufficient if delivered by hand, nationally recognized overnight courier, or certified or
registered mail, return receipt requested, postage prepaid, and will be effective upon delivery to the Company at the address set forth below: 

AMERISAFE, Inc. 
 2301 Hwy 190
West 
 DeRidder, LA 70634 

Attention: Chief Administrative Officer 
 All
notices, requests, consents and other communications required or provided under this Agreement to be delivered by the Company to the Grantee may be delivered by e-mail or in writing and will be deemed
sufficient if delivered by e-mail, hand, facsimile, nationally recognized overnight courier, or certified or registered mail, return receipt requested, postage prepaid, and will be effective upon delivery to
the Grantee. 
 12. Recoupment. This Agreement will be administered in compliance with Section 10D of the Exchange Act, and any
applicable rules or regulations promulgated by the Securities and Exchange Commission or any national securities exchange or national securities association on which the Common Shares may be traded. In its discretion, the Committee may require
repayment to the Company (or forfeiture, as applicable) of all or any portion of the RSUs or the Common Shares issued in settlement thereof, or repayment to the Company of an amount in cash equal to all or any portion of the aggregate value of the
RSUs as of the time such RSUs Vest if, (a) subsequent to the Vesting of the RSUs, the Company is required to file a restatement of the Company’s financial statements with either the Securities Exchange Commission or any state insurance
regulatory authority, or (b) the Grantee engages in Detrimental Activity. The discretionary authority of the Committee under clause (a) of this Section 12 is not conditioned on the Grantee having engaged in misconduct that caused or
contributed to the need for any such restatement. This Section 12 is not the Company’s exclusive remedy with respect to such matters. Notwithstanding anything in this Agreement to the contrary, the Grantee acknowledges and agrees that this
Agreement and the award described herein are subject to the terms and conditions of the Company’s clawback policy (if any) as may be in effect from time to time, including specifically to implement Section 10D of the Exchange Act and any
applicable rules or regulations promulgated thereunder (including applicable rules and regulations of any national securities exchange on which the Common Shares may be traded). 

  
 - 4 - 

 13. Severability. In the event that one or more of the provisions of this Agreement
is invalidated for any reason by a court of competent jurisdiction, any provision so invalidated will be deemed to be separable from the other provisions of this Agreement, and the remaining provisions of this Agreement will continue to be valid and
fully enforceable. 
 14. No Right to Future Awards or Employment. The grant of the RSUs under this Agreement to the Grantee is a
voluntary, discretionary award being made on a one-time basis and it does not constitute a commitment to make any future awards. No provision of this Agreement will limit in any way whatsoever any right that
the Company or a Subsidiary may otherwise have to terminate the employment of the Grantee at any time. 
 15. Relation to Other
Benefits. Any economic or other benefit to the Grantee under this Agreement or the Plan will not be taken into account in determining any benefits to which the Grantee may be entitled under any profit sharing, retirement or other benefit or
compensation plan maintained by the Company or a Subsidiary and will not affect the amount of any life insurance coverage available to any beneficiary under any life insurance plan covering employees of the Company or a Subsidiary. 

16. Interpretation. The interpretation and construction of this Agreement by the Committee shall be final and conclusive. No member of
the Committee shall be liable for any such action or determination made in good faith. 
 17. Integration. The RSUs are granted
pursuant to the Plan. Notwithstanding anything in this Agreement to the contrary, this Agreement is subject to all of the terms and conditions of the Plan, which is incorporated herein by reference. As such, this Agreement and the Plan embody the
entire agreement and understanding of the Company and the Grantee and supersede any prior understandings or agreements, whether written or oral, with respect to the RSUs. 

18. Electronic Delivery. The Company may, in its sole discretion, deliver any documents related to the RSUs and the Grantee’s
participation in the Plan, or future awards that may be granted under the Plan, by electronic means or request the Grantee’s consent to participate in the Plan by electronic means. The Grantee hereby consents to receive such documents by
electronic delivery and, if requested, agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or another third party designated by the Company. 

19. Acknowledgements. The Grantee acknowledges that the Grantee (a) has received a copy of the Plan, (b) has had an
opportunity to review the terms of this Agreement and the Plan, (c) understands the terms and conditions of this Agreement and the Plan and (d) agrees to such terms and conditions. 

20. Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed to be an original and all of
which together shall be deemed to be one and the same instrument. 
 [SIGNATURE PAGE FOLLOWS] 

  
 - 5 - 

 IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed and delivered
by a duly authorized officer, and the Grantee has duly executed and delivered this Agreement, as of the date first written above. 
  

			
	AMERISAFE, INC.
		
	By:	 	
                 

	Name: G. Janelle Frost,
	Title: President and CEO
	
	GRANTEE

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