Document:

SECURITIES ESCROW AGREEMENT

      SECURITIES ESCROW AGREEMENT, dated as of ______________, 2007 (the
"Agreement"), by and among Western United Financial Corporation, a Delaware
corporation (the "Company"), each of the parties set forth on Exhibit A annexed
hereto (collectively the "Initial Holders") and Wells Fargo Bank, National
Association, a national banking association (the "Escrow Agent").

      WHEREAS, the Company has entered into an Underwriting Agreement, dated
_________, 2007 (the "Underwriting Agreement"), with Sandler O'Neill & Partners,
L.P. ("Sandler O'Neill") acting as representative of the several underwriters
(collectively, the "Underwriters"), pursuant to which, among other matters, the
Underwriters have agreed to purchase 6,250,000 units (the "Units") of the
Company. Each Unit consists of one share of the Company's common stock, par
value $.01 per share (the "Common Stock"), and one warrant (the "Warrant")
exercisable to purchase one share of Common Stock, all as more fully described
in the Company's final Prospectus, dated __________, 2007 comprising part of the
Company's Registration Statement on Form S-1 (File No. 333-138263) under the
Securities Act of 1933, as amended (the "Registration Statement"), declared
effective on _________, 2007 (the "Effective Date");

      WHEREAS, certain of the Initial Holders (the "Common Holders") have agreed
as a condition of the Underwriters' purchase of the Units to deposit their
shares of Common Stock, as set forth opposite their respective names on Exhibit
A attached hereto (collectively, and as further defined in Section 4.2, the
"Initial Escrow Shares"), in escrow as hereinafter provided;

      WHEREAS, Western United Funding, LLC, a Delaware limited liability company
("Funding"), has informed the Company that it intends to purchase 200,000 shares
of Common Stock (the "Funding Escrow Shares" and collectively with the Initial
Escrow Shares, the "Escrow Securities") in the Company's initial public offering
(the "Offering") and immediately after the closing thereof (the "Closing") to
deposit such Funding Escrow Shares in escrow as hereinafter provided; and

      WHEREAS, the Company and the Initial Holders desire that the Escrow Agent
accept the Escrow Securities, in escrow, to be held and disbursed as hereinafter
provided.

      IT IS AGREED:

1. APPOINTMENT OF ESCROW AGENT. The Company and the Initial Holders hereby
appoint the Escrow Agent to act in accordance with and subject to the terms of
this Agreement and the Escrow Agent hereby accepts such appointment and agrees
to act in accordance with and subject to such terms.

2. DEPOSIT OF ESCROW SECURITIES.

      2.1. Initial Escrow Shares. On or before the Effective Date, each of the
Common Holders shall deliver to the Escrow Agent certificates representing his
respective Initial Escrow Shares, as set forth opposite their respective names
on Exhibit A attached hereto, which certificates shall remain in the name of
such Common Holder, to be held and disbursed subject to the terms and conditions
of this Agreement. Each Common Holder acknowledges that the certificate
representing his Initial Escrow Shares bears a legend to reflect the deposit of
such Initial Escrow Shares under this Agreement.

      2.2 Funding Escrow Shares. Promptly following the consummation of the
Offering, Funding shall deliver to the Escrow Agent a certificate representing
the Funding Escrow Shares, as set forth opposite its name on Exhibit A attached
hereto, which certificate shall remain in the name of Funding, to be held and
disbursed subject to the terms and conditions of this Agreement. Funding
acknowledges that the certificate representing the Funding Escrow Shares shall
bear a legend to reflect the deposit of the

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<PAGE>

Funding Escrow Shares under this Agreement.

3. DISBURSEMENT OF THE ESCROW SECURITIES. The Escrow Agent shall hold the Escrow
Securities until the first anniversary of the consummation of the acquisition by
the Company of one or more banks, thrifts and their respective holding companies
and other financial services organizations through a merger, capital stock
exchange, asset acquisition, exchangeable share transaction, stock purchase or
other similar business combination (the "Business Combination") (such period,
the "Escrow Period"). The Company shall promptly provide notice of the
consummation of any Business Combination to the Escrow Agent. On such first
anniversary, the Escrow Agent shall, upon written instructions from each Initial
Holder, disburse each Initial Holder's Escrow Securities to such Initial Holder;
provided, however, that in the event that the Closing does not occur, then the
Escrow Agent shall promptly release the Escrow Securities to the Initial
Holders; provided further, however, that if an Initial Holder does not provide
written instructions within ninety days after the first anniversary of the
consummation of a Business Combination, then the Escrow Agent shall deliver such
Initial Holder's Escrow Securities to the care of the Company; provided further,
however, that if the Escrow Agent is notified by the Company pursuant to Section
6.6 hereof that the Company has been liquidated at any time during the Escrow
Period, then the Escrow Agent shall promptly destroy the certificates
representing the Escrow Securities; provided further, however, that if the
consummation of a Business Combination takes the form of a merger, stock
exchange or other similar transaction which results in any of the security
holders of the Company having the right to exchange their securities for other
securities, then the Escrow Agent shall, upon receipt of a certificate in form
reasonably acceptable to the Escrow Agent, executed by the Chief Executive
Officer or Chief Financial Officer of the Company, release the Escrow Securities
to the Initial Holders immediately prior and subject to consummation of the
Business Combination so that they can similarly participate, and upon receipt
thereof, the Initial Holders shall deposit such securities into escrow with the
Escrow Agent for the remainder of the Escrow Period; and provided further,
however, that if, after the Company consummates a Business Combination and the
Company or the surviving entity of such Business Combination subsequently
consummates a liquidation, merger, stock exchange or other similar transaction
which results in any of the security holders of the Company or such entity
having the right to exchange their securities for cash, securities or other
property, then the Escrow Agent shall, upon receipt of a certificate in form
reasonably acceptable to the Escrow Agent, executed by the Chief Executive
Officer or Chief Financial Officer of the Company, that such transaction is then
being consummated, release the Escrow Securities to the Initial Holders
immediately prior and subject to consummation of the transaction so that they
can similarly participate. The Escrow Agent shall act as soon as reasonably
possible following the receipt of the certificate, and shall not be held liable
for any delay in sending the Initial Escrow Shares caused by the late receipt of
the certificate. The Escrow Agent shall have no further duties hereunder with
respect to the Escrow Securities after the disbursement or destruction of the
Escrow Securities in accordance with this Section 3.

4. RIGHTS OF INITIAL HOLDERS IN ESCROW SECURITIES.

      4.1. Rights as a Security Holder. Subject to the terms of their respective
Insider Letters as described in Section 4.4 hereof and except as herein
provided, each Initial Holder shall retain all of its rights as a stockholder of
the Company during the Escrow Period, including without limitation, the right to
vote Common Stock. The Escrow Agent shall have no responsibility to determine or
verify the contents or limitations of the Insider Letters and shall be bound
only by the terms of this Agreement.

      4.2. Dividends and other Distributions in Respect of the Escrow
Securities. During the Escrow Period with respect to the Escrow Securities, all
dividends payable in cash with respect to the Escrow Securities shall be paid to
the Common Holders, but all dividends payable in stock or other non-cash
property (the "Non-Cash Dividends") shall be delivered to the Escrow Agent to
hold in accordance with the terms hereof. As used herein, the terms "Escrow
Securities" shall be deemed to include the Non-

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<PAGE>

Cash Dividends distributed thereon, if any.

      4.3. Restrictions on Transfer. During the Escrow Period, no sale, transfer
or other disposition (a "Transfer") may be made of any or all of the Escrow
Securities by an Initial Holder except (i) by gift to a member of the Initial
Holder's immediate family for estate planning purposes or to a trust, the
beneficiary of which is the Initial Holder or a member of the Initial Holder's
immediate family, (ii) by virtue of the laws of descent and distribution upon
death of the Initial Holder, or (iii) pursuant to a qualified domestic relations
order; provided, however, that such permitted Transfers may be implemented only
upon the respective transferee's written agreement to be bound by the terms and
conditions of this Agreement and of the Insider Letter signed by the Initial
Holder transferring the Escrow Securities. During the Escrow Period, no Initial
Holder shall pledge or grant a security interest in his or its Escrow Securities
or grant a security interest in his or its rights under this Agreement.

      4.4. Insider Letters. Each of the Initial Holders has executed a letter
agreement with the Company, dated as indicated on Exhibit A hereto, and which is
filed as an exhibit to the Registration Statement (the "Insider Letter"),
respecting the rights and obligations of such Initial Holders in certain events,
including but not limited to the liquidation of the Company.

5. CONCERNING THE ESCROW AGENT.

      5.1. Good Faith Reliance. The Escrow Agent shall be protected and shall
not be liable for any action taken or omitted by it in good faith and in the
exercise of its own best judgment, and may rely conclusively and may act upon
any order, notice, demand, certificate, opinion or advice of counsel (including
counsel chosen by the Escrow Agent), statement, instrument, report or other
paper or document (not only as to its due execution and the validity and
effectiveness of its provisions, but also as to the truth and acceptability of
any information therein contained) which is believed by the Escrow Agent to be
genuine and to be signed or presented by the proper person or persons. The
Escrow Agent shall not be bound by any notice or demand, or any waiver,
modification, termination or rescission of this Agreement unless evidenced by a
writing delivered to the Escrow Agent signed by the proper party or parties and,
if the duties or rights of the Escrow Agent are affected, unless it shall have
given its prior written consent thereto.

      5.2. Indemnification. The Escrow Agent shall be indemnified and held
harmless by the Company from and against any expenses, including counsel fees
and disbursements, or loss suffered by the Escrow Agent in connection with any
action, suit or other proceeding involving any claim which in any way, directly
or indirectly, arises out of or relates to this Agreement, the services of the
Escrow Agent hereunder, or the Escrow Securities held by it hereunder, other
than expenses or losses arising from the gross negligence or willful misconduct
of the Escrow Agent. Promptly after the receipt by the Escrow Agent of notice of
any demand or claim or the commencement of any action, suit or proceeding, the
Escrow Agent shall notify the other parties hereto in writing. In the event of
the receipt of such notice, the Escrow Agent, in its sole discretion, may
commence an action in the nature of interpleader in an appropriate court to
determine ownership or disposition of the Escrow Securities or it may deposit
the Escrow Securities with the clerk of any appropriate court or it may retain
the Escrow Securities pending receipt of a final, non-appealable order of a
court having jurisdiction over all of the parties hereto directing to whom and
under what circumstances the Escrow Securities are to be disbursed and
delivered. The provisions of Sections 5.2 and 5.7 shall survive in the event the
Escrow Agent resigns or is discharged pursuant to Sections 5.5 or 5.6 below.

      5.3. Compensation. The Escrow Agent shall be entitled to compensation from
the Company in accordance with Schedule I hereto for all services rendered by it
hereunder.

      5.4. Further Assurances. From time to time on and after the date hereof,
the Company and the

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<PAGE>

Initial Holders shall deliver or cause to be delivered to the Escrow Agent such
further documents and instruments and shall do or cause to be done such further
acts as the Escrow Agent shall reasonably request to carry out more effectively
the provisions and purposes of this Agreement, to evidence compliance herewith
or to assure itself that it is protected in acting hereunder.

      5.5. Resignation. The Escrow Agent may resign at any time and be
discharged from its duties as escrow agent hereunder by its giving the other
parties hereto written notice and such resignation shall become effective at
such time that the Escrow Agent shall turn over to a successor escrow agent
appointed by the Company, the Escrow Securities held hereunder. If no new escrow
agent is so appointed within the sixty (60) day period following the giving of
such notice of resignation, the Escrow Agent may submit an application to
deposit the Escrow Securities with the United States District Court for the
Southern District of New York, provided the Escrow Agent provides notice of such
deposit to the Company and the Initial Holders in accordance with Section 6.6
hereof.

      5.6. Discharge of Escrow Agent. The Escrow Agent shall resign and be
discharged from its duties as escrow agent hereunder if so requested in writing
at any time by the other parties hereto, jointly, provided, however, that such
resignation shall become effective only upon acceptance of appointment by a
successor escrow agent as provided in Section 5.5.

      5.7. Liability. Notwithstanding anything herein to the contrary, the
Escrow Agent shall not be relieved from liability hereunder for its own gross
negligence or its own willful misconduct.

      5.8. Waiver. The Escrow Agent hereby waives any and all right, title,
interest or claim of any kind ("Claim") in or to any distribution of the Trust
Account (as defined in that certain Investment Management Trust Agreement, dated
as of the date hereof, by and between the Company and the Escrow Agent as
trustee thereunder), and hereby agrees not to seek recourse, reimbursement,
payment or satisfaction for any Claim against the Trust Account for any reason
whatsoever.

      5.9. Standard of Care. The Escrow Agent shall be obligated only to perform
the duties specifically set forth in this Escrow Agreement, which shall be
deemed purely ministerial in nature, and the Escrow Agent shall under no
circumstances be deemed to be a fiduciary to any party hereto or any other
person. The parties hereto agree that the Escrow Agent shall not assume any
responsibility for the failure of the parties hereto to perform in accordance
with this Escrow Agreement or any other agreement or document. This Escrow
Agreement sets forth all matters pertinent to the escrow contemplated hereunder,
and no additional obligations of the Escrow Agent shall be inferred from the
terms of this Escrow Agreement or any other agreement or document. IN NO EVENT
SHALL THE ESCROW AGENT BE LIABLE, DIRECTLY OR INDIRECTLY, FOR ANY (I) DAMAGES OR
EXPENSES ARISING OUT OF THE SERVICES PROVIDED HEREUNDER, OTHER THAN DAMAGES
WHICH RESULT FROM THE ESCROW AGENT'S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, OR
(II) SPECIAL OR CONSEQUENTIAL DAMAGES, EVEN IF THE ESCROW AGENT HAS BEEN ADVISED
OF THE POSSIBILITY OF SUCH DAMAGES.

6. MISCELLANEOUS.

      6.1. Governing Law and Consent to Jurisdiction. This Agreement shall be
governed by, and construed in accordance with, the laws of the State of New York
applicable to contracts executed in and to be performed in that State,
including, without limitation, Sections 5-1401 and 5-1402 of the New York
General Obligations Law and the New York Civil Practice Laws and Rules 327(b).
The parties hereto agree that any action, proceeding or claim against it arising
out of or relating in any way to this Agreement shall be brought and enforced in
the courts of the State of New York or the United States District Court for the
Southern District of New York, and irrevocably submit to such jurisdiction,
which

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<PAGE>

jurisdiction shall be exclusive. The parties hereby waive any objection to such
exclusive jurisdiction and that such courts represent an inconvenient forum.

      6.2. Third Party Beneficiaries. Each of the Initial Holders hereby
acknowledges that the Underwriters are third party beneficiaries of this
Agreement and this Agreement may not be modified or changed without the prior
written consent of Sandler O'Neill.

      6.3. Entire Agreement. This Agreement and the Insider Letters and Warrants
as referenced herein contain the entire agreement of the Company and the Initial
Holders with respect to the subject matter hereof, and this Agreement contains
the entire agreement as it pertains to the Escrow Agent and the other parties
hereto and, except as expressly provided herein, may not be changed or modified
except by an instrument in writing signed by all parties to this Agreement. The
Agreement may be executed in several original or facsimile counterparts, each
one of which shall constitute an original, and together shall constitute but one
instrument.

      6.4. Headings. The headings contained in this Agreement are for reference
purposes only and shall not affect in any way the meaning or interpretation
hereof.

      6.5. Binding Effect. This Agreement shall be binding upon and inure to the
benefit of the respective parties hereto and their legal representatives,
successors and permitted assigns. Any corporation or association into which the
Escrow Agent may be converted or merged, or with which it may be consolidated,
or to which it may sell or transfer all or substantially all of its corporate
trust business and assets as a whole or substantially as a whole, or any
corporation or association resulting from any such conversion, sale, merger,
consolidation or transfer to which the Escrow Agent is a party, shall be and
become the successor escrow agent under this Escrow Agreement and shall have and
succeed to the rights, powers, duties, immunities and privileges as its
predecessor, without the execution or filing of any instrument or paper or the
performance of any further act.

      6.6. Notices. Any notice or other communication required or which may be
given hereunder shall be in writing and either be delivered personally or be
mailed, certified or registered mail, or by private national courier service,
return receipt requested, postage prepaid, and shall be deemed given when so
delivered personally, if mailed, two days after the date of mailing, or if sent
by national courier service, one business day after being sent, in each case as
follows:

If to the Company, to:

      Western United Financial Corporation
      70 South Lake Avenue
      Suite 900
      Pasadena, California 91101
      Attn: V. Charles Jackson
      Fax: (626) 796-8333

If to an Initial Holder, to his address set forth in Exhibit A.

If to the Escrow Agent, to:

      Wells Fargo Bank, National Association
      707 Wilshire Boulevard, 17th Floor
      MAC E2818-176
      Los Angeles, California 90017-3501
      Attn: Nelia Lopez

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<PAGE>

      Fax: (213) 614-3355

A copy of any notice sent hereunder shall be sent to each of:

      Skadden, Arps, Slate, Meagher & Flom LLP
      300 South Grand Avenue
      Suite 3400
      Los Angeles, California 90071
      Attn: Gregg A. Noel, Esq.
            Casey Fleck, Esq.
      Fax: (213) 621-5234

      Jenkens & Gilchrist, A Professional Corporation
      1445 Ross Avenue
      Suite 3700
      Dallas, Texas 75202
      Attn: T. Allen McConnell, Esq.
      Fax: (214) 855-4300

      Sandler O'Neill & Partners, L.P.
      919 Third Avenue
      New York, New York 10024
      Attn: Syndicate Manager
      Fax: (212) 466-7888

      The parties may change the persons and addresses to which the notices or
other communications are to be sent by giving written notice to any such change
in the manner provided herein for giving notice.

      6.7. Liquidation of the Company. The Company shall give the Escrow Agent
written notification of the liquidation and dissolution of the Company in the
event that the Company fails to consummate a Business Combination within the
time period(s) specified in the Registration Statement.

      6.8 Disputes. If any disagreement or dispute arises among the Company and
the Initial Holders concerning the meaning or validity of any provision
hereunder or concerning any other matter relating to this Escrow Agreement, the
Escrow Agent shall be under no obligation to act, except (i) with joint written
instruction of the Company and the Initial Holders, or (ii) under process or
order of court, and shall sustain no liability for its failure to act pending
such process or court order.

      6.9 Termination. This Agreement shall terminate on the final distribution
of all of the Escrow Securities in accordance with the terms of this Agreement.

                  [Remainder of Page Left Blank Intentionally]

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<PAGE>

      IN WITNESS WHEREOF, the parties have duly executed this Security Escrow
Agreement as of the date first written above.

                                        WESTERN UNITED FINANCIAL
                                        CORPORATION

                                        By: ____________________________________
                                            Name: V. Charles Jackson
                                            Title: Chief Executive Officer

                                        ESCROW AGENT

                                        By: ____________________________________
                                            Name:
                                            Title:

                                   [Escrow Agreement]
<PAGE>

                                        INITIAL HOLDERS:

                                        WESTERN UNITED FUNDING, LLC

                                        By: ____________________________________
                                            Name: V. Charles Jackson
                                            Title: Managing Member

                                        ________________________________________
                                        Name: V. Charles Jackson

                                        ________________________________________
                                        Name: Richard Alston

                                        ________________________________________
                                        Name: Timothy R. Chrisman

                                        ________________________________________
                                        Name: Peter W. Kuyper

                                        ________________________________________
                                        Name: Richard W. Dalbeck

                                        ________________________________________
                                        Name: George Strong

                               [Escrow Agreement]
<PAGE>

                                                                       EXHIBIT A

<TABLE>
<CAPTION>
                                                   Number of Shares of
Name and Address of Common Holder                  Common Stock                    Stock Certificate Number
<S>                                                <C>                             <C>
V. Charles Jackson                                 739,375                         7
c/o Western United Management, LLC
70 South Lake Avenue, Suite 900
Pasadena, California  91101

Richard Alston                                     398,125                         8

George Strong                                      40,625                          9

Timothy R. Chrisman                                40,625                          10

Peter W. Kuyper                                    40,625                          11

Richard W. Dalbeck                                 40,625                          12

<CAPTION>
                                                   Number of Shares of
Name and Address of Funding                        Common Stock
<S>                                                <C>
Western United Funding, LLC                        200,000
c/o Western United Management, LLC
70 South Lake Avenue, Suite 900
Pasadena, California  91101
</TABLE>

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<PAGE>

SCHEDULE I - ESCROW AGENT FEES FOR ESCROW SERVICES

                                       10
<PAGE>

SCHEDULE II - AUTHORIZED SIGNATORIES

--------------------------------------------------------------------------------
     INDIVIDUAL'S NAME                TITLE                     SIGNATURE
--------------------------------------------------------------------------------
V. CHARLES JACKSON           CHAIRPERSON, PRESIDENT,
                             CHIEF EXECUTIVE OFFICER
--------------------------------------------------------------------------------
RICHARD ALSTON               CHIEF FINANCIAL
                             OFFICER, TREASURER, AND
                             SECRETARY
--------------------------------------------------------------------------------_______________, 2007

Western United Financial Corporation
c/o Western United Management, LLC
70 South Lake Avenue, Suite 900
Pasadena, California  91101

      Re:   INITIAL PUBLIC OFFERING

Ladies and Gentlemen:

      This letter is being delivered to you in accordance with the  Underwriting
Agreement (the  "UNDERWRITING  AGREEMENT")  entered into by and between  Western
United  Financial  Corporation,  a Delaware  corporation  (the  "Company"),  and
Sandler  O'Neill  &  Partners,   L.P.  (the   "UNDERWRITER"),   relating  to  an
underwritten  initial  public  offering (the "IPO") of the Company's  units (the
"UNITS"),  each Unit comprised of one share of the Company's  Common Stock,  par
value  $0.01  per  share  (the  "COMMON  STOCK"),  and  one  warrant,  which  is
exercisable for one share of Common Stock. Certain capitalized terms used herein
are defined in paragraph 10 hereof.

      In order to induce  the  Company  and the  Underwriter  to enter  into the
Underwriting  Agreement and to proceed with the IPO, and in  recognition  of the
benefit that such IPO will confer upon the  undersigned  as a stockholder of the
Company,  and for  other  good  and  valuable  consideration,  the  receipt  and
sufficiency of which are hereby acknowledged, the undersigned hereby agrees with
the Company and the Underwriter as follows:

1.  If  the  Company  solicits  approval  of  its  stockholders  of  a  Business
Combination,  the  undersigned  will  vote  all  Insider  Shares  owned  by  the
undersigned in accordance  with the majority of the votes cast by the holders of
the IPO Shares.

2. In the event that the  Company  fails to  consummate  a Business  Combination
within  twenty-four  (24) months  from the  effective  date of the  Registration
Statement  (the  "EFFECTIVE  DATE"),  the  undersigned  will take all reasonable
actions  within  the  undersigned's  power to (i) cause the Trust  Account to be
liquidated and  distributed to the holders of IPO Shares in accordance with that
Investment  Management  Trust  Agreement  to be  entered  into by and  among the
Company,  the Underwriter  and Wells Fargo Bank,  National  Association  ("Wells
Fargo"),  as Trustee;  (ii) cause the Company to liquidate as soon as reasonably
practicable;  and  (iii)  be  liable  to (A) pay the  costs of  dissolution  and
liquidation to the extent such expenses  exceed the Company's  assets outside of
the Trust  Account and (B) ensure that the proceeds in the Trust Account are not
reduced by the claims of vendors for services  rendered or products  sold to the
Company,  as well as  claims of  prospective  target  acquisitions  for fees and
expenses of third  parties  that the Company has agreed in writing to pay in the
event  that  the  Business  Combination  is not  consummated  with  such  target
acquisition. The undersigned hereby waives any and all right, title, interest or
claim  (each a "CLAIM") of any kind in or to (x) any  distribution  of the Trust
Account with respect to shares of Common  Stock held by the  undersigned,  other
than IPO Shares

                                       1
<PAGE>

purchased by the  undersigned,  and (y) any  remaining net assets of the Company
after such liquidation.

3. Except as disclosed in the  Registration  Statement,  none of the undersigned
nor any  Affiliate of the  undersigned  will be entitled to receive and will not
accept any  compensation  for  services  rendered to the Company  prior to or in
connection with the consummation of the Business Combination; provided, that the
undersigned  shall  be  entitled  to  reimbursement  from  the  Company  for the
undersigned's  reasonable  out-of-pocket  expenses  incurred in connection  with
seeking and consummating a Business Combination.

4. None of the undersigned nor any Affiliate of the undersigned will be entitled
to receive or accept from the Company a finder's  fee or any other  compensation
in the event the  undersigned or any Affiliate of the  undersigned  originates a
Business Combination.

5. The undersigned shall escrow the undersigned's  Insider Shares until one year
after the  consummation of the Business  Combination,  subject to the terms of a
Securities  Escrow  Agreement  which  the  Company  will  enter  into  with  the
undersigned and Wells Fargo,  as escrow agent, in form and substance  acceptable
to the Company.

6. The information in the Registration  Statement relating to the undersigned is
true and accurate in all  respects  and does not omit any  material  information
with respect to the undersigned. The undersigned represents and warrants that:

      6.1 the  undersigned  is not  subject  to, or a  respondent  in, any legal
action for any  injunction,  cease-and-desist  order or order or  stipulation to
desist  or  refrain  from  any  act or  practice  relating  to the  offering  of
securities in any jurisdiction;

      6.2 the  undersigned  has never been convicted of or pleaded guilty to any
crime (i) involving any fraud,  (ii)  relating to any financial  transaction  or
handling of funds of another  person or (iii)  pertaining to any dealings in any
securities, and he is not currently a defendant in any such criminal proceeding;

      6.3 the  undersigned  has never been suspended or expelled from membership
in any securities or commodities  exchange or association or had a securities or
commodities license or registration denied suspended or revoked;

      6.4 a petition under any federal bankruptcy laws or any state, territorial
or  provincial  insolvency  law was not filed by or against,  nor was a receiver
fiscal  agent or  similar  officer  appointed  by a court  for the  business  or
property of the undersigned, or for any partnership in which the undersigned was
a general partner within the past two years;

      6.5 the undersigned  has not been subject to any order  prohibiting and is
not subject to any legal  proceeding  seeking to prohibit the  undersigned  from
engaging in any type of business practice;

                                       2
<PAGE>

      6.6  the   undersigned  has  not  been  found  by  a  court  of  competent
jurisdiction  in a civil action by the Securities and Exchange  Commission or by
any other  federal  or state  administrative  or  regulatory  authority  to have
violated any federal or state securities law;

      6.7  the   undersigned  has  not  been  found  by  a  court  of  competent
jurisdiction in a civil action by the Commodity Futures Trading Commission or by
any other  federal  or state  administrative  or  regulatory  authority  to have
violated any federal or state commodities law; and

      6.8 the Escrow Agreement,  dated as of __________,  2007, by and among the
Company,  Wells Fargo, the undersigned and the other stockholders of the Company
party  thereto is  enforceable  against  the  undersigned  (except:  (i) as such
enforceability  may be  limited by  bankruptcy,  insolvency,  reorganization  or
similar laws affecting  creditors' rights  generally;  (ii) as enforceability of
any  indemnification or contribution  provision may be limited under the federal
and state securities laws; and (iii) that the remedy of specific performance and
injunctive  and other forms of equitable  relief may be subject to the equitable
defenses and to the discretion of the court before which any proceeding therefor
may be brought) and will not,  with or without the giving of notice or the lapse
of time or both,  result in a breach of, or  conflict  with any of the terms and
provisions  of, or  constitute a default  under,  any agreement or instrument to
which the undersigned is a party.

7. This letter agreement shall be binding on the Company and the undersigned and
the undersigned's  respective  successors,  heirs, personal  representatives and
assigns.  This letter  agreement  shall terminate on the earlier of (i) the date
upon which the Business  Combination is consummated and (ii) the date upon which
the  liquidation and  distribution  of the Trust Account is completed,  provided
that the following  Sections shall survive such  termination:  3, 4, 5, 8, 9 and
11.

8. This letter  agreement  shall be governed by and  construed  and  enforced in
accordance  with the  laws of the  State of New  York  applicable  to  contracts
executed in and to be performed in that State,  including,  without  limitation,
Sections  5-1401 and 5-1402 of the New York General  Obligations Law and the New
York  Civil  Practice  Laws  and  Rules  327(b).  Each  of the  Company  and the
undersigned  hereby (i) agrees that any action,  proceeding or claim against him
or it arising out of or relating  in any way to this letter  agreement  shall be
brought and enforced in the courts of the State of New York or the United States
District Court for the Southern District of New York, and irrevocably submits to
such  jurisdiction,  which  jurisdiction  shall be exclusive and (ii) waives any
objection  to such  exclusive  jurisdiction  and that such courts  represent  an
inconvenient forum.

9. As used herein:

      9.1 "AFFILIATE" shall have the meaning ascribed to it in Rule 12b-2 of the
General  Rules and  Regulations  under the  Securities  Exchange Act of 1934, as
amended.

      9.2. "BUSINESS  COMBINATION" shall mean the Company's initial  acquisition
of one or more banks,  thrifts and their respective  holding companies and other
financial services

                                       3
<PAGE>

organizations  through  a  merger,  capital  stock  exchange,   asset  or  stock
acquisition,   exchangeable   share   transaction  or  other  similar   business
combination.

      9.3 "INSIDERS" shall mean each of the following:

          V. Charles Jackson
          Richard Alston
          Timothy R. Chrisman
          Peter W. Kuyper
          Richard W. Dalbeck
          George Strong
          Western United Funding, LLC

      9.4 "INSIDER  SHARES"  shall mean the 200,000  shares of Common Stock that
the undersigned is being offered in the IPO.

      9.5 "IPO  SHARES"  shall mean the shares of Common  Stock  comprising  the
Units issued in the Company's IPO.

      9.6 "REGISTRATION  STATEMENT" shall mean the registration  statement filed
by the Company on Form S-1 (No.  333-138263)  with the  Securities  and Exchange
Commission  on October 27, 2006,  and any amendment or  supplement  thereto,  in
connection with the IPO.

      9.7 "TRUST  ACCOUNT" shall mean the trust account  established  with Wells
Fargo, the amounts therein to be released as set forth in the Trust Agreement.

10. No term or  provision  of this letter  agreement  may be  amended,  changed,
waived altered or modified except by written  instrument  executed and delivered
by the undersigned and the Company.

                  [remainder of page intentionally left blank]

                                       4
<PAGE>

                                           Sincerely,

                                           WESTERN UNITED FUNDING, LLC

                                           By:__________________________________
                                           Name: V. CHARLES JACKSON
                                           Title: MANAGING MEMBER

Accepted and agreed:

WESTERN UNITED FINANCIAL CORPORATION

By:_________________________________
Name: V. Charles Jackson
Title: Chief Executive Officer

                                       5
                                [Insider Letter]

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