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                                                                   EXHIBIT 10.23

                                                                       (LOGO)

FEDERAL LAND BANK ASSOCIATION
OF NORTH MISSISSIPPI, FLCA
--------------------------------------------------------------------------------

201 E. Sunflower Rd., Ste. 8
Valley Court Square
P.O. BOX 1819
Cleveland, MS 38732
(662) 843-2421
FAX (662) 843-4013

June 6, 2002

Mr. George Hastings
AquaPro Corporation
1100 Highway #3
Sunflower, MS 38778

RE:           Loan #780038 & 824445
              Amendment to loan agreement dated 4/22/02

Dear George:

Your loan agreement as stated dated 4/22/02 in regard to the Distressed Loan
Restructuring (DLR) Plan has been amended and approved. This letter is to notify
you of that and to formalize the terms, conditions, and consequences of that
action.

Terms of the Plan

Under the Plan, you are required to perform as follows.

Loan #780038

        (1)     240 acres which is one of the four tracts used as security under
                this loan is to be sold and proceeds estimated at $195,000 are
                to be applied to the current payment + penalty. The balance will
                be applied to principal. Under this sale the buyer is buying the
                land and some equipment. A detailed listing of the disbursement
                of the sale proceeds will be required showing the proceeds that
                go to the land or equipment purchases.

        (2)     Borrower is to pay $2,500 by the 15th day of the month
                beginning June, 2002 and ending May, 2003 when the annual
                payment will be due. These payments are to be put into the
                future pay account to be applied toward the 5/l/2003
                installment.

        (3)     Once the above proceeds are received, a maturity date change is
                to be processed changing the installment date from 4/1 to 5/1
                each year.

        (4)     In addition a mortgage will be taken on all equipment. This will
                be a requirement in order to approve the partial release or the
                above listed 240 acres.

        (5)     Corporate approval by AquaPro Corporation will be needed on the
                above listed items.

        (6)     Loans #780038 & #824445 are to be cross-collateralized.

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Loan #824445

        (1)     Borrower is to pay $10,000 by the 15th day of the month
                beginning June, 2002 and ending May, 2003 when the annual
                payment will be due. The application of the $10,000 monthly
                payments are to be applied as follows: The first nine payments
                totaling $90,000 to be applied to principal. The remaining
                payments will be placed in the Future Pay Fund to be used
                against the 5/1/03 payment.

        (2)     Upon receipt of the first $10,000 payment this loan will be
                reamortized for the remaining period of the loan. Also a
                maturity date change will be processed changing the installment
                date from 1/1 to 5/1 each year.

        (3)     In addition a mortgage will be taken on all equipment. This
                requirement will include both loans under AquaPro Corporation at
                the Land Bank (Loan #824445 & #780038). This will be a
                requirement of the reamortization under this loan.

        (4)     Corporate approval by AquaPro Corporation will be needed on the
                above listed items.

        (5)     Loans #780038 & #824445 are to be cross-collateralized.

All of the above listed requirements under both loans are contingent on AquaPro
Corporation securing operating financing for 2002. Also this plan will also be
subject to borrower following the operating plan as shown by the attached cash
flow, which includes restocking of ponds as needed during the 2002 year.

Consequences and Events of Default

You are now operating under an approved DLR plan. Should you fail to perform any
of the requirements as specified above (Terms of Plan) then you will be
considered in default of the Plan. Should you default while this DLR plan is in
effect, you will not be entitled to a restructuring of the existing plan, nor
will you be eligible to apply for a DLR a second time. Should you default, the
association will commence collection action, and you will be expected to cure in
full each and every default in your performance under the existing loan
documents.

Acceptance and Agreement

Each obligor will be required to signify his or her acceptance and agreement of
the approved Plan and other conditions thereto by signing this letter and
returning to me. Your failure to do so within 15 business days from the date
hereof will be deemed a rejection of the plan by you, and the bank will then
proceed with foreclosure action.

THIS WRITTEN AGREEMENT REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES AND
MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR. CONTEMPORANEOUS, OR SUBSEQUENT
ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN
THE PARTIES.

Please contact me should you have any questions.

                                         Sincerely,

                                         Tully Boyer

                                         Tully Boyer
                                         Vice President

SIGNED:

George S. Hastings, Jr.                        George S. Hastings, Jr.
-----------------------                        --------------------------------
George S. Hastings, Jr.                        George S. Hastings, Jr. President
                                               AquaPro Corporation<PAGE>

                                                                   EXHIBIT 10.24

                           MEMORANDUM OF UNDERSTANDING

From the proceeds of a new line of credit from Land O' Lakes Finance,
International Holdings, Inc. (IHI) agrees to loan AquaPro Corporation funds to
be able to make the following payments to Secured Loans, Inc.: August 9, 2002
($20,000), September 9, 2002 ($14,000). October 9, 2002 ($14,000), November 9,
2002 ($14,000) and December 9, 2002 ($14,000).

Secured Loans, Inc. agrees to notify Land O' Lakes regarding contemplation of
any foreclosure it might consider regarding outstanding loans to AquaPro
Corporation or any default in payments. Secured Loans, Inc. will allow Land O'
Lakes Finance to secure any default in AquaPro or scheduled payments within no
less than 30 days of receipt of written notice of any default. In addition,
should any foreclosure proceed, Land O' Lakes will be allowed to go onto
property and take care of fish in a commercial manner and to remove any live
catfish that might be in the: ponds on the land being foreclosed upon up until
said foreclosure is finalized.

In the event the scheduled payment due August 9, 2002 is not paid, then this
agreement is null and void and Secured Loans, Inc. shall have the right to
immediately institute foreclosure.

                       AGREED TO THIS _______ DAY OF JULY 2002.

SECURED LOANS, INC.      AQUAPRO CORPORATION        INTERNATIONAL HOLDINGS, INC.

By: W.H. Wright          By: George S. Hastings     By: Joseph H. Hale
    -----------              ------------------         --------------

Print: ______________     Print: _______________    Print: _________________<PAGE>
                                                                    EXHIBIT 10.1

                       AMENDMENT TO RELEASE AND SEVERANCE
                             COMPENSATION AGREEMENT

         This Amendment Agreement is made and entered into on this 22nd day of
August 2002, by and among ProAssurance Corporation ("ProAssurance"), ProNational
Insurance Company ("ProNational"), Professionals Group, Inc. ("Professionals
Group") and Victor T. Adamo ("Executive"). ProAssurance, ProNational and
Professionals Group and their respective majority owned subsidiaries are
hereinafter collectively referred to as the "Companies."

                                    RECITALS

         The parties to this Amendment Agreement entered into a Release and
Severance Compensation Agreement as of June 27, 2001 (the "Change of Control
Agreement") in connection with the consolidation of Professionals Group and
Medical Assurance, Inc. under ProAssurance, a newly formed insurance holding
company (the "Consolidation"). The Change of Control Agreement provides to the
Executive protection in the form of severance benefits that payable by the
Companies on termination of his employment under certain circumstances after the
Consolidation.

         The Companies have requested Executive to move his primary location of
employment to the home office of ProAssurance in Homewood, Alabama, a suburb of
Birmingham, Alabama. Executive has agreed to relocate on the condition that the
Companies extend the Initial Term of his Change of Control Agreement. As set
forth in this Amendment, the Companies have agreed to so extend the Initial Term
of Executive's Change of Control Agreement on the condition that Executive
relocate to Birmingham and Executive agrees to extend the duration of his
covenant not to compete from two years to three years as set forth in this
Amendment.

         The Compensation Committee and the Board of Directors of ProAssurance
believes it is in the interest of ProAssurance to retain Executive as its chief
operating officer under the terms

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and conditions set forth in this Amendment. The Board has approved this
Amendment of the Change of Control Agreement.

                                    AGREEMENT

         NOW THEREFORE, These Premises Considered, and in consideration of the
mutual covenants and provisions in this Agreement, the sufficiency of which is
hereby acknowledged, the parties agree as follows:

         1.       The Executive agrees to relocate to the Birmingham, Alabama
metropolitan area and to have his primary location of employment for purposes of
the Change of Control Agreement be stated as the home of ProAssurance currently
located at 100 Brookwood Place, Homewood, Alabama.

         2.       The Change of Control Agreement is hereby amended to extend
the Initial Term of the Change of Control Agreement by deleting Section 1 in its
entirety therefrom and substituting in lieu thereof the following:

                  This Agreement is effective on June 27, 2001, and shall
         continue in effect until the later of either (i) June 27, 2005, or (ii)
         two years after the date upon which the Board of Directors of
         ProAssurance elects a successor to A. Derrill Crowe as the chief
         executive officer of ProAssurance (the "Initial Term"). Thereafter,
         this Agreement shall automatically be extended for successive terms of
         one year (a "Renewal Term"), except this Agreement may be terminated
         after the first Renewal Term upon delivery of written notice of the
         termination of this Agreement by any of the Companies at least six
         months prior to the expiration of any Renewal Term. If the Executive's
         employment is terminated during the term of the Agreement, the date on
         which the Executive's employment terminates shall be referred to as the
         "Date of Termination."

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         3.       The Change of Control Agreement is hereby further amended to
change the primary location of Executive's employment from Okemos, Michigan to
Birmingham, Alabama by deleting subparagraph 4(b) in its entirety therefrom and
substituting in lieu thereof the following:

                  (b)      The Companies require that the Executive's primary
         location of employment be more than 50 miles from Birmingham, Alabama;

         4.       The Change of Control Agreement is hereby further amended to
modify the non-competition covenant in certain respects by deleting Section 7 in
its entirety therefrom and substituting in lieu thereof the following:

                  7.       Non-Competition.

                  In the event the Date of Termination occurs during the Initial
         Term or any Renewal Term, the Executive will not during the Restricted
         Period (herein defined):

                           (i)      become employed by a competitor company that
                  offers, sells or markets medical professional liability
                  insurance in the primary market area of the Companies, except
                  that Executive may be employed with a competitor company so
                  long as and on the condition that the Executive does not
                  participate in the operating activities of the medical
                  professional liability insurance business of the competitor
                  company; or

                           (ii)     solicit or induce any employees of the
                  Companies to leave such employment or accept employment with
                  any other person or entity, or solicit or induce any insurance
                  agent of the Companies to offer sell or market medical
                  professional liability insurance for a competitor company in
                  the primary market area of the Companies.

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                                    "Competitor company" means an insurance
                           company, insurance agency, business, for profit or
                           not for profit organization (other than the
                           Companies) that provides, or offers to provide
                           medical professional liability insurance for health
                           care providers.

                                    "Health care providers" means physicians,
                           dentists, podiatrist, physician assistants, nurse
                           practitioners, other individual health care providers
                           and hospital and other institutional health care
                           providers.

                                    "Medical professional liability insurance"
                           means medical malpractice insurance and reinsurance
                           for health care providers and equivalent self-insured
                           services such as administration of self-insured
                           trusts, claims management services and risk
                           management services. "Medical professional liability
                           insurance" does not include services provided as an
                           employee of a health care provider if such services
                           are rendered solely for the purpose of servicing
                           medical professional liability risk of the employer
                           or that of its employees.

                                    "Primary market area" means any state in
                           which the Companies derived more than $10 million in
                           direct written premiums from the sale of medical
                           professional liability insurance to health care
                           providers in the most recent complete fiscal year
                           prior to the Date of Termination and any state in
                           which the Companies have on Date of Termination a
                           plan for the expansion of marketing activities for
                           the sale of medical professional liability

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                           insurance in that state which is likely to result in
                           direct written premiums from the sale of medical
                           professional liability insurance of more than $15
                           million in the 18 months following the Date of
                           Termination.

                                    "Restricted Period" means a period of 36
                           months from the Date of Termination.

                                    "Employed" includes activities as an owner,
                           proprietor, employee, agent, solicitor, partner,
                           member, manager, principal, shareholder (owning more
                           than 1% of the outstanding stock), consultant,
                           officer, director or independent contractor.

                  If the Executive is deemed to have materially breached the
         non-competition covenants set forth in Section 7 of this Agreement, the
         Companies may, in addition to seeking an injunction or any other remedy
         they may have, withhold or cancel any remaining payments or benefits
         due to the Executive pursuant to Section 2 of this Agreement. The
         Companies shall give prior or contemporaneous written notice of such
         withholding or cancellation of payments in accordance with Section 2
         hereof. If the Executive violates any of these restrictions, the
         Companies shall be further entitled to an immediate preliminary and
         permanent injunctive relief, without bond, in addition to any other
         remedy which may be available to the Companies.

                  Both parties agree that the restrictions in this Agreement are
         fair and reasonable in all respects, including the geographic and
         temporal restrictions, and that the benefits described in this
         Agreement, to the extent any separate or special

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         consideration is necessary, are fully sufficient consideration for the
         Executive's obligations under this Agreement.

         6.       The parties hereby ratify, confirm and approve the terms of
the Change of Control Agreement as amended hereby, and agree that the Change of
Control Agreement as so amended shall be binding on the parties and their
successors and assigns.

         In Witness Whereof the undersigned have duly executed this Amendment
Agreement as of the date first written above.

                                          PROASSURANCE CORPORATION

                                          By  /s/ A. Derrill Crowe
                                            ----------------------------------
                                             Its Chairman

                                          PROFESSIONALS GROUP, INC.

                                          By  /s/ A. Derrill Crowe
                                            ----------------------------------
                                              Its Chairman

                                          PRONATIONAL INSURANCE COMPANY

                                          By  /s/ John O. Bashant
                                            ----------------------------------
                                              Its Vice President

                                             /s/ Victor T. Adamo
                                            ----------------------------------
                                                  Victor T. Adamo

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