Document:

_______________, 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 11 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;  and (ii)  cause  the  Company  to  liquidate  as soon as
reasonably practicable.  The undersigned hereby waives any and all right, title,
interest or claim of any kind (each a "CLAIM") in or to (x) any  distribution of
the Trust Account with respect to the undersigned's Insider Shares in connection
with a  liquidation  and (y) any  remaining net assets of the Company after such
liquidation.

3. Except as disclosed in the Registration  Statement,  none of the undersigned,
any  member  of  the  family  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

                                       1
<PAGE>

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, any member of the family 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,
any member of the family of the  undersigned or any Affiliate of the undersigned
originates a Business Combination.

5. The undersigned shall escrow the undersigned's Insider Shares until the first
anniversary  of 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 undersigned  agrees to be a director of the Company and currently intends
to serve  until the  earlier of the  consummation  by the  Company of a Business
Combination or the liquidation of the Company.  The undersigned's  Questionnaire
for  Directors  and Officers  furnished  to the Company and  attached  hereto as
EXHIBIT A and the  undersigned's  biographical  information in the  Registration
Statement  is true and  accurate in all  respects and does not omit any material
information with respect to the undersigned's background. The undersigned's NASD
Questionnaire  furnished to the  Underwriter  and annexed as EXHIBIT B hereto is
true and accurate in all respects. 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 or for any  corporation  or
business  association of which the undersigned  was an executive  officer 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. The  undersigned  agrees that until the earlier of (i) the  consummation of a
Business  Combination or the liquidation of the Company or (ii) such time as the
undersigned  ceases  to be an  officer  or  director  of the  Company,  (X)  the
undersigned  shall  present  to the  Company  for  its  consideration  prior  to
presentation to any other entity, any business  opportunity which may reasonably
be  deemed  appropriate  for  the  Company  based  on  the  description  in  the
Registration  Statement of the Company's  proposed business or which is required
to be presented to the Company  under  Delaware law subject to any  pre-existing
fiduciary or contractual obligations the undersigned has and (Y) the undersigned
shall not assist or  participate  with any other person or entity in the pursuit
of or negotiation with respect to such business opportunity unless and until the
undersigned  receives  written  notice  from the  Company  that the  Company has
determined not to pursue such business opportunity.

8. 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, 9, 10 and
12.

9. 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

                                       3
<PAGE>

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.

10. As used herein:

         10.1 "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.

         10.2.   "BUSINESS   COMBINATION"   shall  mean  the  Company's  initial
acquisition of one or more banks, thrifts and their respective holding companies
and other  financial  services  organizations  through a merger,  capital  stock
exchange,  asset or stock  acquisition,  exchangeable share transaction or other
similar business combination.

         10.3     "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

         10.4  "INSIDER  SHARES" shall mean all of the shares of Common Stock of
the Company owned by an Insider prior to the IPO.

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

         10.6  "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.

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

11. 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,

                                                     ---------------------------
                                                     Name:  Timothy R. Chrisman

Accepted and agreed:

WESTERN UNITED FINANCIAL CORPORATION

By:
    ---------------------------
Name:
    ---------------------------

Title:
    ---------------------------

                                       5
<PAGE>

                                   EXHIBIT A:

                    QUESTIONNAIRE FOR DIRECTORS AND OFFICERS

<PAGE>

                                   EXHIBIT B:

                               NASD QUESTIONNAIRE_______________, 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 11 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;  and (ii)  cause  the  Company  to  liquidate  as soon as
reasonably practicable.  The undersigned hereby waives any and all right, title,
interest or claim of any kind (each a "CLAIM") in or to (x) any  distribution of
the Trust Account with respect to the undersigned's Insider Shares in connection
with a  liquidation  and (y) any  remaining net assets of the Company after such
liquidation.

3. Except as disclosed in the Registration  Statement,  none of the undersigned,
any  member  of  the  family  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

                                       1
<PAGE>

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, any member of the family 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,
any member of the family of the  undersigned or any Affiliate of the undersigned
originates a Business Combination.

5. The undersigned shall escrow the undersigned's Insider Shares until the first
anniversary  of 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 undersigned  agrees to be a director of the Company and currently intends
to serve  until the  earlier of the  consummation  by the  Company of a Business
Combination or the liquidation of the Company.  The undersigned's  Questionnaire
for  Directors  and Officers  furnished  to the Company and  attached  hereto as
EXHIBIT A and the  undersigned's  biographical  information in the  Registration
Statement  is true and  accurate in all  respects and does not omit any material
information with respect to the undersigned's background. The undersigned's NASD
Questionnaire  furnished to the  Underwriter  and annexed as EXHIBIT B hereto is
true and accurate in all respects. 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 or for any  corporation  or
business  association of which the undersigned  was an executive  officer 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. The  undersigned  agrees that until the earlier of (i) the  consummation of a
Business  Combination or the liquidation of the Company or (ii) such time as the
undersigned  ceases  to be an  officer  or  director  of the  Company,  (X)  the
undersigned  shall  present  to the  Company  for  its  consideration  prior  to
presentation to any other entity, any business  opportunity which may reasonably
be  deemed  appropriate  for  the  Company  based  on  the  description  in  the
Registration  Statement of the Company's  proposed business or which is required
to be presented to the Company  under  Delaware law subject to any  pre-existing
fiduciary or contractual obligations the undersigned has and (Y) the undersigned
shall not assist or  participate  with any other person or entity in the pursuit
of or negotiation with respect to such business opportunity unless and until the
undersigned  receives  written  notice  from the  Company  that the  Company has
determined not to pursue such business opportunity.

8. 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, 9, 10 and
12.

9. 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

                                       3
<PAGE>

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.

10. As used herein:

         10.1 "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.

         10.2.   "BUSINESS   COMBINATION"   shall  mean  the  Company's  initial
acquisition of one or more banks, thrifts and their respective holding companies
and other  financial  services  organizations  through a merger,  capital  stock
exchange,  asset or stock  acquisition,  exchangeable share transaction or other
similar business combination.

         10.3     "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

         10.4  "INSIDER  SHARES" shall mean all of the shares of Common Stock of
the Company owned by an Insider prior to the IPO.

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

         10.6  "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.

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

11. 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,

                                   ------------------------------------------
                                   Name:  Peter W. Kuyper

Accepted and agreed:

WESTERN UNITED FINANCIAL CORPORATION

By:
   ----------------------------------------

Name:
     --------------------------------------

Title:
      -------------------------------------

                                       5
<PAGE>

                                   EXHIBIT A:

                    QUESTIONNAIRE FOR DIRECTORS AND OFFICERS

<PAGE>

                                   EXHIBIT B:

                               NASD QUESTIONNAIRE

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