Document:

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                                                                EXHIBIT 10.13[1]

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                     AMERICAN COMPENSATION INSURANCE COMPANY

                  WORKERS' COMPENSATION QUOTA SHARE REINSURANCE

                           EFFECTIVE: DECEMBER 1, 2001

                             PLACEMENT CONFIRMATION

COMPANY:                   American Compensation Insurance Company

REINSURER:                 St. Paul Re (on behalf of St. Paul Fire and Marine)

BUSINESS REINSURED:        Losses occurring during the Term of this contract on
                           policies of Workers Compensation and/or Employers
                           Liability Insurance in force as of December 1, 2001
                           or policies written and effective during the Term of
                           this contract.

REINSURER'S SHARE:         80% Quota Share, to be continued or renegotiated at
                           March 31, 2002.

GROSS WRITTEN              All premiums written by the Company for classes of
PREMIUM                    business reinsured hereunder

SUBJECT PREMIUM:           Gross Written Premium less cancellations and return
                           premiums, and less premium ceded for reinsurance
                           which inures to this Contract.

CEDED PREMIUM              Reinsurer's share of Subject Premium.

TERM:                      Effective 12:01 a.m., Central Standard Time, December
                           1, 2001, with respect to losses occurring on or after
                           that date.  May be terminated by the Reinsurer or the
                           Company December 31, 2002 or any December 31
                           thereafter with 90 days prior written notice by
                           certified mail.  At the Company's option may be
                           terminated on a run-off basis with policies running
                           until natural expiration or cancellation. If the
                           Company chooses the run-off basis, then the Aggregate
                           Limit shall be 90.25% of Ceded Earned Premium prior
                           to the run-off period plus 82% of Ceded Earned
                           Premium during the run-off period, less any amounts
                           retained through the Loss Corridors. At the Company's
                           option, may be terminated at any month-end with 30
                           days prior written notice by certified mail on a
                           cut-off basis.

CHANGE OF CONTROL:         If one of the following occurs during the term of
                           this Contract, the Reinsurer shall have the right at
                           its discretion at any time to renegotiate and/or
                           terminate this Contract:

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                           1.    The Company's policyholders' surplus falls by
                                 30% or more from the level it was as of the
                                 inception of this Contract.
                           2.    The A. M. Best Rating of the Company falls to
                                 B- or less.
                           3.    The Company has a change in ownership and/or
                                 management. "Change in management" shall be
                                 defined as four or more of the senior
                                 management team (Team S) who make the critical
                                 decisions at the Company and who leave the
                                 Company during the same year. "Change in
                                 ownership" shall be deemed to have occurred if
                                 there is a change of 50.0% or more in the
                                 ownership of the voting stock of the Company.

                           If this contract is terminated according to the
                           provision above, it will be runoff as allowed in the
                           Term Article. Cutoff at the Company's option.

CEDING COMMISSION:         41% Flat Commission.

PER OCCURRENCE             For policies in force as of January 1, 2001 the Per
LIMITS:                    Occurrence Limit shall be $25,000 (inclusive of
                           ALAE). For policies in states other than Minnesota
                           incepting on or after January 1, 2001 the Per
                           Occurrence Limit shall be $300,000 (inclusive of
                           ALAE). For Minnesota policies incepting on or after
                           January 1, 2001 and losses occurring prior to
                           December 31, 2001 the Per Occurrence Limit shall be
                           $330,000 (exclusive of ALAE). For Minnesota losses
                           occurring after January 1, 2002 the Per Occurrence
                           Limit shall be $350,000 (exclusive of ALAE)

AGGREGATE LIMIT:           The maximum Ultimate Net Loss incurred and paid by
                           the Reinsurer under this contract shall be 90.25% of
                           Ceded Premium, less any amounts retained through the
                           Loss Corridors.

OCCUPATIONAL DISEASE       Losses arising out of Occupational Disease shall be
LOSSES:                    covered, subject to a limit of 2.5% of Ceded Earned
                           Premium.

COVERED LOSSES:            The Covered Losses for which the Reinsurer shall
                           indemnify the Company shall be equal to the
                           Reinsurer's Share of the Ultimate Net Loss within the
                           Per Occurrence Limit, which are paid by the Company,
                           subject to the Loss Corridors and Aggregate Limit.

ULTIMATE NET LOSS:         Ultimate Net Loss as used in this agreement shall
                           mean the actual loss paid by the company or for which
                           the Company is liable to pay including Allocated Loss
                           Adjusting Expenses. Such loss or losses shall not
                           include any levies, fees or assessments from any
                           Government Agency. All salvage, subrogation and
                           recoveries from reinsurance which inures to this
                           contract, whether collected or not, will be deducted
                           from Ultimate Net Loss.

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LOSS CORRIDOR:             The Company shall pay:

                           1.    100% of Covered Losses excess of 60% of Subject
                                 Premium and less than 66% of Subject Premium,
                                 in the aggregate, plus
                           2.    50% of Covered Losses excess of 66% of Subject
                                 Premium and less than 73.5% of Subject Premium,
                                 in the aggregate, plus
                           3.    100% of Covered Losses excess of 73.5% of
                                 Subject Premium and less than 80% of Subject
                                 Premium, in the aggregate.

TERRITORY:                 Losses arising out of policies written in the USA,
                           its territories and possessions, where occurring.

REINSURER'S MARGIN:        4.75% of Ceded Written Premium.

INTEREST CREDIT:           The Experience Account at the end of the each quarter
                           shall be credited at an annualized rate calculated as
                           follows:

                                            [a times i] times .25

                                  where:
                                  a = the ending quarterly Experience Account
                                      balance;
                                  i = the three-year U.S. Treasury Bill rate as
                                      of the last business day of the quarter.

EXPERIENCE ACCOUNT:        An Experience Account balance (EAB) shall be
                           established and maintained on a cumulative basis by
                           the Reinsurer quarterly as follows:

                           1.    100% of the cumulative reinsurance premium due
                                 from and paid by the Company and received by
                                 the Reinsurer; less
                           2.    Ceding commission on (1) above; less
                           3.    The Reinsurer's margin, equal to 4.75% of (1)
                                 above; less
                           4.    The cumulative ultimate net loss paid by the
                                 Reinsurer; plus
                           5.    The cumulative Experience Account Interest
                                 Credit (as defined above).

MAINTENANCE FEE            There will be a maintenance fee of $37,500 due from
                           and paid by the Company to the Reinsurer on January 1
                           of each year subsequent to December 31, 2009 if this
                           contract is not commuted prior to December 31, 2009.

PROFIT COMMISSION:         The Company can unilaterally commute at any time
                           after termination if the Experience Account Balance
                           is positive, in which case the EAB will be returned
                           to the Company. However, if the EAB is negative, then
                           commutation is by mutual agreement.

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                           Upon such payment, the Reinsurer shall be released of
                           all current and future liabilities hereon.

REPORTS AND                At inception the Company shall provide the Reinsurer
REMITTANCES:               an electronic listing of policies in force and the
                           unearned premiums on these policies. At inception the
                           Company shall pay the Reinsurance Premium due on the
                           Unearned Premium. If this premium is not paid within
                           30 days of binding coverage, the reinsurer shall have
                           the right to cancel back to inception.

                           Within 30 days after the end of each calendar
                           quarter, the Company shall report to the Reinsurer:

                           1.    Ceded written premium for the calendar quarter;
                           2.    Commission thereon;
                           3.    Ceded losses and allocated loss adjustment
                                 expense paid during the calendar quarter;
                           4.    Ceded losses and allocated loss adjustment
                                 expense case outstanding as of the end of the
                                 calendar quarter;
                           5.    Ceded incurred but not reported loss reserves
                                 outstanding as of the end of the calendar
                                 quarter;
                           6.    Open and closed claims counts;
                           7.    Ceded unearned premium reserves as of the end
                                 of the quarter.

                           The positive balance of (1) less (2) less (3) shall
                           be remitted by the Company within 30 days of its
                           report. Any balance shown to be due the Company shall
                           be remitted by the Reinsurer within 30 days after
                           receipt of the Company's report.

                           Unearned Premium paid more than 30 days after binding
                           coverage, and premiums paid more than 60 days after
                           the end of the quarter shall accrue interest at a
                           compound rate of 0.4% per month.

EXCLUSIONS:                1.    Jones Act.
                           2.    Radioactive Contamination, whether directly or
                                 indirectly arising out of nuclear incident.
                           3.    USL&H, except where incidental being 20% or
                                 less of payroll any one risk.
                           4.    Professional Sports Teams written as such
                                 except administrative personnel who do not
                                 travel with the team. Excluded personnel
                                 include players, coaches, trainers and all
                                 other personnel who regularly travel with the
                                 team.
                           5.    Commercial Airlines Flight Crews.
                           6.    Residual Market Pools.

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                           7.    War
                           8.    Insolvency Funds
                           9.    Terrorism - Wording to be agreed.

CLAUSES:                   Unauthorized Reinsurer Clause (Evergreen LOC
                           including losses, ALAE and IBNR)
                           Currency (BRMA 12A)
                           Extra Contractual Obligations/Loss in Excess of
                           Policy Limits
                           Delay, Omission or Error (BRMA 14F)
                           Access to Records (BRMA 31D)
                           Salvage and Subrogation
                           Taxes (BRMA 50B)
                           Offset (BRMA 36C)
                           Original Conditions (BRMA 37D)
                           Arbitration - Minnesota, Venue and Choice of Law
                           Service of Suit
                           Insolvency
                           Benfield Blanch Intermediary Clause

DEFINITIONS:               "Policy" as used in this agreement shall mean any
                           binder, policy or contract of insurance issued
                           accepted or held covered provisionally or otherwise,
                           by or on behalf of the Company.

                           "Allocated Loss Adjustment Expenses" shall mean
                           expenses assignable to the investigation, defense
                           and/or settlement of a specific claim, including
                           litigation expenses, interest on judgments, and
                           declaratory judgment expense, but not including
                           salaries and benefits of the Company, its directors,
                           officers or employees, offices expenses, overhead,
                           expenses paid to a Company that is part of or
                           affiliated with the Company or is an economically
                           related enterprise, and other fixed expenses of the
                           Company.

                           With respect to losses classified as Cumulative
                           Trauma or Occupational Disease the date of loss for
                           each Loss Occurrence shall be the date when the
                           compensable disability of the employee commences, or
                           if there is no such disability, when the medical
                           treatment commences.

                           "Occupational Disease" shall mean any abnormal
                           condition that fulfills all of the following
                           conditions,

                           1.    It is not traceable to a definite compensable
                                 accident occurring during the employee's past
                                 or present employment;
                           2.    It has been caused by exposure to a disease
                                 producing agent or agents present in the
                                 worker's occupational environment; and
                           3.    It has resulted in disability or death.

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                           "Cumulative Trauma" shall mean any injury that
                           satisfies the following conditions:

                           1.    It is not traceable to a definite compensable
                                 accident occurring during the employee's past
                                 or present employment;
                           2.    It has occurred from and has been aggravated by
                                 a repetitive employment related activity.
                           3.    It has resulted in a disability or death.

The parties hereto by their respective duly authorized representatives have
executed this Agreement as of the dates undermentioned at:

Minneapolis, Minnesota, this 27th day of February 2002.

                                       /s/ ALFRED L. LATENDRESSE
                                       -----------------------------------------
American Compensation Insurance Company (for and on behalf of the Company)

Morristown, New Jersey this _______ day of ______________________________ 20___.

                                       -----------------------------------------
St. Paul Re, Inc. on behalf of
St. Paul Fire and Marine Insurance Company

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                                                                EXHIBIT 10.14[3]

                       THIRD AMENDMENT TO CREDIT AGREEMENT

         This THIRD AMENDMENT TO CREDIT AGREEMENT (this "Amendment"), made and
entered into as of September 29, 2001, is by and between RTW, Inc., a Minnesota
corporation (the "Borrower"), and U.S. Bank National Association, a national
banking association (the "Bank").

                                    RECITALS

         1. The Bank and the Borrower entered into a Credit Agreement dated as
of March 31, 2000 as amended by a First Amendment dated as of May 4, 2000 and a
Second Amendment dated as of March 28, 2001 (as amended, the "Credit
Agreement"); and

         2. The Borrower desires to amend certain provisions of the Credit
Agreement, and the Bank has agreed to make such amendments, subject to the terms
and conditions set forth in this Amendment.

                                    AGREEMENT

         NOW, THEREFORE, for good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the parties hereto hereby covenant
and agree to be bound as follows:

         Section 1. Capitalized Terms. Capitalized terms used herein and not
otherwise defined herein shall have the meanings assigned to them in the Credit
Agreement, unless the context shall otherwise require.

         Section 2. Amendments. The Credit Agreement is hereby amended as
follows:

                  2.1 Definitions.

                  (a) The definitions of "Consolidated Net Income", "Eurodollar
         Rate" and "Fixed Charge Coverage Ratio" contained in Section 1.1 of the
         Credit Agreement are amended in their entirety to read as follows:

                           "Consolidated Net Income": For any period, the
                  consolidated net income of the Borrower and its Subsidiaries
                  for such period as determined in accordance with GAAP;
                  provided, however, that such amount shall exclude (a) fees not
                  to exceed $2,500,000 on a pre-tax basis in the aggregate on
                  account of any loss portfolio transfer or adverse development
                  cover reinsurance agreement which limits the Borrower and/or
                  Subsidiary's exposure to future claims, and (b) amounts added
                  to loss reserves not to exceed $5,450,000 on a pre-tax basis
                  in the aggregate in the first and second quarters of fiscal
                  year 2001.

                           "Eurodollar Rate": With respect to each Interest
                  Period applicable to a Eurodollar Rate Advance, the average
                  offered rate for deposits in United States

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                  dollars (rounded upward, if necessary, to the nearest 1/16 of
                  1%) for delivery of such deposits on the first day of such
                  Interest Period, for the number of days in such Interest
                  Period, which appears on Telerate page 3750 as of 11:00 AM,
                  London time (or such other time as of which such rate appears)
                  two Eurodollar Business Days prior to the first day of such
                  Interest Period, or the rate for such deposits determined by
                  the Bank at such time based on such other published service of
                  general application as shall be selected by the Bank for such
                  purpose; provided, that in lieu of determining the rate in the
                  foregoing manner, the Bank may determine the rate based on
                  rates at which United States dollar deposits are offered to
                  the Bank in the interbank Eurodollar market at such time for
                  delivery in Immediately Available Funds on the first day of
                  such Interest Period in an amount approximately equal to the
                  Advance by the Bank to which such Interest Period is to apply
                  (rounded upward, if necessary, to the nearest 1/16 of 1%).
                  "Telerate page 3750" means the display designated as such on
                  the Telerate reporting system operated by Telerate System
                  Incorporated (or such other page as may replace page 3750 for
                  the purpose of displaying London interbank offered rates of
                  major banks for United States dollar deposits).

                           "Fixed Charge Coverage Ratio": As of the last day of
                  any fiscal quarter of the Borrower, the ratio of:

                                    (a) an amount equal to the sum of (i) the
                           Amount Available for Dividends for the period of four
                           consecutive fiscal quarters ending on such day, plus
                           (ii) the operating gain (loss) of the Borrower, on a
                           non-consolidated basis, for such period, plus (iii)
                           the tax benefit of interest expense of the Borrower
                           for such period determined on a non-consolidated
                           basis,

                                    to

                                    (b) an amount equal to the sum of (i)
                           interest expense of the Borrower for such period
                           determined on a non-consolidated basis, plus (ii) all
                           required principal payments with respect to
                           Indebtedness of the Borrower for such period
                           determined on a non-consolidated basis.

                  (b) Section 1.1 of the Credit Agreement is hereby amended by
         adding the definitions of "Prime Rate" and "Prime Rate Advance" in the
         correct alphabetical order to read as follows:

                           "Prime Rate": The rate of interest from time to time
                  publicly announced by the Bank as its "prime rate". The Bank
                  may lend to its customers at rates that are at, above or below
                  the Prime Rate. For purposes of determining any interest rate
                  hereunder or under any other Loan Document which is based on
                  the Prime Rate, such interest rate shall change as and when
                  the Prime Rate shall change.

                           "Prime Rate Advance": An Advance with respect to
                  which the interest rate is determined by reference to the
                  Prime Rate.

                                      -2-
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                  (c) Section 1.1 of the Credit Agreement is hereby amended by
         deleting the definitions of "Reference Rate" and "Reference Rate
         Advance".

                  2.2 Conversions and Continuations. The last sentence of
         Section 2.5 of the Credit Agreement is deleted in its entirety and the
         following is substituted in lieu thereof:

                           If the Borrower shall fail to notify the Bank of the
                  continuation of any Fixed Rate Advances or of the conversion
                  of Eurodollar Rate Advances to Negotiated Rate Advances within
                  the time required by this Section, at the option of the Bank,
                  such Advances shall, on the last day of the Interest Period
                  applicable thereto (A) automatically be continued as Fixed
                  Rate Advances of the same type and the same Interest Period or
                  (B) automatically be converted to Prime Rate Advances.

                  2.3 Fixed Charge Coverage Ratio. Section 6.13 of the Credit
         Agreement is amended to read in its entirety as follows:

                           Section 6.13 Fixed Charge Coverage Ratio. The
                  Borrower will not permit the Fixed Charge Coverage Ratio, as
                  of the last day of any fiscal quarter, to be less than 1.50 to
                  1.00.

                  2.4 Consolidated Net Worth. Section 6.15 of the Credit
         Agreement is amended to read in its entirety as follows:

                           Section 6.15 Consolidated Net Worth. The Borrower
                  will not permit its Consolidated Net Worth at any time to be
                  less than the sum of $35,000,000 plus 25% of its cumulative
                  positive Consolidated Net Income arising after September 30,
                  2001.

                  2.5 Statutory Surplus of ACIC. Section 6.16 of the Credit
         Agreement is amended to read in its entirety as follows:

                           Section 6.16 Statutory Surplus of ACIC. The Borrower
                  shall not permit ACIC's Capital and Surplus at any time to be
                  less than the sum of $25,000,000 plus 25% of ACIC's cumulative
                  positive Statutory Net Income arising after September 30,
                  2001.

                  2.6 Consolidated Net Income. Section 6.17 of the Credit
         Agreement is amended to read in its entirety as follows:

                           Section 6.17 Consolidated Net Income. The Borrower
                  will not permit its Consolidated Net Income, as of the last
                  day of any fiscal quarter for the period of four consecutive
                  fiscal quarters ending on such date, to be less than
                  $3,000,000; provided, however, that for the period of
                  determination ending on September 30, 2001, Consolidated Net
                  Income shall be calculated on an annualized basis based upon
                  the Borrower's consolidated financial results for the period
                  from January 1, 2001 to and including September 30, 2001.

                                      -3-
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                  2.7 Prime Rate. Except for references to such terms
         specifically so amended by this Amendment, all remaining references to
         the term "Reference Rate" or "Reference Rate Advance" contained in the
         Credit Agreement are hereby amended to be references to the term "Prime
         Rate" or "Prime Rate Advance", as applicable.

                  2.8 Compliance Certificate. Exhibit 5.1(b) to the Credit
         Agreement is hereby amended in its entirety to read as set forth in
         Exhibit B to this Amendment, which is made a part of the Credit
         Agreement as Exhibit 5.1(b) thereto.

         Section 3. Effectiveness of Amendments. The amendments contained in
this Amendment shall become effective upon delivery by the Borrower of, and
compliance by the Borrower with, the following:

                  3.1 This Amendment and the Second Amended and Restated Term
         Note in the form of Exhibit A hereto (the "Note"), each duly executed
         by the Borrower.

                  3.2 A copy of the resolutions of the Board of Directors of the
         Borrower authorizing the execution, delivery and performance of this
         Amendment and Note certified as true and accurate by its Secretary or
         Assistant Secretary, along with a certification by such Secretary or
         Assistant Secretary (i) certifying that there has been no amendment to
         the Articles of Incorporation or Bylaws of the Borrower since true and
         accurate copies of the same were delivered to the Bank with a
         certificate of the Secretary of the Borrower dated March 31, 2000, and
         (ii) identifying each officer of the Borrower authorized to execute
         this Amendment, the Note and any other instrument or agreement executed
         by the Borrower in connection with this Amendment (collectively, the
         "Amendment Documents"), and certifying as to specimens of such
         officer's signature and such officer's incumbency in such offices as
         such officer holds.

                  3.3 The Borrower shall have paid an amendment fee of $5,000 to
         the Bank.

                  3.4 The Borrower shall have satisfied such other conditions as
         specified by the Bank, including payment of all unpaid legal fees and
         expenses incurred by the Bank through the date of this Amendment in
         connection with the Credit Agreement and the Amendment Documents.

         Section 4. Defaults and Waivers.

                  4.1 Events of Default and Unmatured Events of Default.

                  (a) Consolidated Net Worth. Under Section 6.15 of the Credit
         Agreement, the Borrower agreed not to permit its Consolidated Net Worth
         at any time to be less than the sum of $38,000,000 plus 25% of its
         cumulative positive Consolidated Net Income arising after March 31,
         2001. Beginning on April 1, 2001, the Borrower's Consolidated Net Worth
         was less than the sum of $38,000,000 plus 25% of its cumulative
         positive Consolidated Net Income arising after March 31, 2001. As a
         result, an Event of Default has occurred under Section 7.1(c) of the
         Credit Agreement.

                                      -4-
<PAGE>

                  (b) Consolidated Net Income. Under Section 6.17 of the Credit
         Agreement, the Borrower agreed not to permit its Consolidated Net
         Income for any period of four consecutive fiscal quarters to be less
         than $3,000,000; provided, however, that for any period of
         determination ending on or before September 30, 2001, Consolidated Net
         Income shall be calculated on an annualized basis based upon the
         Borrower's consolidated financial results for the period from January
         1, 2001 to and including the date of determination. For the four fiscal
         quarters ending June 30, 2001, the Borrower's Consolidated Net Income
         was less than $3,000,000. As a result, an Event of Default has occurred
         under Section 7.1(c) of the Credit Agreement.

                  4.2 Waiver. Upon the date on which this Amendment becomes
         effective, the Bank hereby waives the Borrower's Defaults and Events of
         Default described in the preceding Sections 4.1(a) through 4.1(b) (the
         "Existing Defaults"). The waiver of the Existing Defaults set forth
         above is limited to the express terms thereof, and nothing herein shall
         be deemed a waiver by the Bank of any other term, condition,
         representation or covenant applicable to the Borrower under the Credit
         Agreement (including but not limited to any future occurrence similar
         to the Existing Defaults) or any of the other agreements, documents or
         instruments executed and delivered in connection therewith, or of the
         covenants described therein. The waivers set forth herein shall not
         constitute a waiver by the Bank of any other Default or Event of
         Default, if any, under the Credit Agreement, and shall not be, and
         shall not be deemed to be, a course of action with respect thereto upon
         which the Borrower may rely in the future, and the Borrower hereby
         expressly waives any claim to such effect.

         Section 5. Representations, Warranties, Authority, No Adverse Claim.

                  5.1 Reassertion of Representations and Warranties, No Default.
         The Borrower hereby represents that on and as of the date hereof and
         after giving effect to this Amendment (a) all of the representations
         and warranties contained in the Credit Agreement are true, correct and
         complete in all respects as of the date hereof as though made on and as
         of such date, except for changes permitted by the terms of the Credit
         Agreement, and (b) there will exist no Default or Event of Default
         under the Credit Agreement as amended by this Amendment on such date
         which has not been waived by the Bank.

                  5.2 Authority, No Conflict, No Consent Required. The Borrower
         represents and warrants that the Borrower has the power and legal right
         and authority to enter into the Amendment Documents and has duly
         authorized as appropriate the execution and delivery of the Amendment
         Documents and other agreements and documents executed and delivered by
         the Borrower in connection herewith or therewith by proper corporate
         action, and none of the Amendment Documents nor the agreements
         contained herein or therein contravenes or constitutes a default under
         any agreement, instrument or indenture to which the Borrower is a party
         or a signatory or a provision of the Borrower's Articles of
         Incorporation, Bylaws or any other agreement or requirement of law, or
         result in the imposition of any Lien on any of its property under any
         agreement binding on or applicable to the Borrower or any of its
         property except, if any, in favor of the Bank. The Borrower represents
         and warrants that no consent, approval or authorization of or

                                      -5-
<PAGE>

         registration or declaration with any Person, including but not limited
         to any governmental authority, is required in connection with the
         execution and delivery by the Borrower of the Amendment Documents or
         other agreements and documents executed and delivered by the Borrower
         in connection therewith or the performance of obligations of the
         Borrower therein described, except for those which the Borrower has
         obtained or provided and as to which the Borrower has delivered
         certified copies of documents evidencing each such action to the Bank.

                  5.3 No Adverse Claim. The Borrower warrants, acknowledges and
         agrees that no events have been taken place and no circumstances exist
         at the date hereof which would give the Borrower a basis to assert a
         defense, offset or counterclaim to any claim of the Bank with respect
         to the Obligations.

         Section 6. Affirmation of Credit Agreement, Further References,
Affirmation of Security Interest. The Bank and the Borrower each acknowledge and
affirm that the Credit Agreement, as hereby amended, is hereby ratified and
confirmed in all respects and all terms, conditions and provisions of the Credit
Agreement, except as amended by this Amendment, shall remain unmodified and in
full force and effect. All references in any document or instrument to the
Credit Agreement are hereby amended and shall refer to the Credit Agreement as
amended by this Amendment. The Borrower confirms to the Bank that the
Obligations are and continue to be secured by the security interest granted by
the Borrower in favor of the Bank under the Security Documents, and all of the
terms, conditions, provisions, agreements, requirements, promises, obligations,
duties, covenants and representations of the Borrower under such documents and
any and all other documents and agreements entered into with respect to the
obligations under the Credit Agreement are incorporated herein by reference and
are hereby ratified and affirmed in all respects by the Borrower.

         Section 7. Merger and Integration, Superseding Effect. This Amendment,
from and after the date hereof, embodies the entire agreement and understanding
between the parties hereto and supersedes and has merged into this Amendment all
prior oral and written agreements on the same subjects by and between the
parties hereto with the effect that this Amendment, shall control with respect
to the specific subjects hereof and thereof.

         Section 8. Severability. Whenever possible, each provision of this
Amendment and the other Amendment Documents and any other statement, instrument
or transaction contemplated hereby or thereby or relating hereto or thereto
shall be interpreted in such manner as to be effective, valid and enforceable
under the applicable law of any jurisdiction, but, if any provision of this
Amendment, the other Amendment Documents or any other statement, instrument or
transaction contemplated hereby or thereby or relating hereto or thereto shall
be held to be prohibited, invalid or unenforceable under the applicable law,
such provision shall be ineffective in such jurisdiction only to the extent of
such prohibition, invalidity or unenforceability, without invalidating or
rendering unenforceable the remainder of such provision or the remaining
provisions of this Amendment, the other Amendment Documents or any other
statement, instrument or transaction contemplated hereby or thereby or relating
hereto or thereto in such jurisdiction, or affecting the effectiveness, validity
or enforceability of such provision in any other jurisdiction.

                                      -6-
<PAGE>

         Section 9. Successors. The Amendment Documents shall be binding upon
the Borrower and the Bank and their respective successors and assigns, and shall
inure to the benefit of the Borrower and the Bank and the successors and assigns
of the Bank.

         Section 10. Legal Expenses. As provided in Section 8.2 of the Credit
Agreement, the Borrower agrees to reimburse the Bank, upon execution of this
Amendment, for all reasonable out-of-pocket expenses (including attorney' fees
and legal expenses of Dorsey & Whitney LLP, counsel for the Bank) incurred in
connection with the Credit Agreement, including in connection with the
negotiation, preparation and execution of the Amendment Documents and all other
documents negotiated, prepared and executed in connection with the Amendment
Documents, and in enforcing the obligations of the Borrower under the Amendment
Documents, and to pay and save the Bank harmless from all liability for, any
stamp or other taxes which may be payable with respect to the execution or
delivery of the Amendment Documents, which obligations of the Borrower shall
survive any termination of the Credit Agreement.

         Section 11. Headings. The headings of various sections of this
Amendment have been inserted for reference only and shall not be deemed to be a
part of this Amendment.

         Section 12. Counterparts. The Amendment Documents may be executed in
several counterparts as deemed necessary or convenient, each of which, when so
executed, shall be deemed an original, provided that all such counterparts shall
be regarded as one and the same document, and either party to the Amendment
Documents may execute any such agreement by executing a counterpart of such
agreement.

         Section 13. Governing Law. THE AMENDMENT DOCUMENTS SHALL BE GOVERNED BY
THE INTERNAL LAWS OF THE STATE OF MINNESOTA, WITHOUT GIVING EFFECT TO CONFLICT
OF LAW PRINCIPLES THEREOF, BUT GIVING EFFECT TO FEDERAL LAWS APPLICABLE TO
NATIONAL BANKS, THEIR HOLDING COMPANIES AND THEIR AFFILIATES.

            [The remainder of this page is intentionally left blank.]

                                      -7-
<PAGE>
         IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed as of the date and year first above written.

BORROWER:                   RTW, INC.

                            By:  /s/ Jeffrey B. Murphy
                                -----------------------------------------------

                            Title:   Chief Financial Officer
                                   --------------------------------------------

BANK:                       U.S. BANK NATIONAL ASSOCIATION

                            By:  /s/ Jason Tornow
                                -----------------------------------------------

                            Title:  Corporate Banking Officer
                                   --------------------------------------------

             [Signature Page to Third Amendment to Credit Agreement]
                                      S - 1

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