Document:

Amendment No. 1 To The Change in Control Severance Agreement with Donald Hamm

 Exhibit 10.19 
  
 AMENDMENT NO. 1 TO 
 CHANGE IN
CONTROL SEVERANCE AGREEMENT 
 THIS AMENDMENT NO. 1 TO CHANGE IN CONTROL SEVERANCE AGREEMENT (this “Amendment”) is
effective January 1, 2006, by and between Assurant, Inc. (the “Company”) and Donald Hamm (the “Executive”). 
 WHEREAS, the Company and Executive entered into that certain Change in Control Severance Agreement dated as of January 1, 2005 (the “Agreement”); and 
 WHEREAS, by its terms the Agreement expires on December 31, 2005; and 
 WHEREAS, the Board of Directors of the Company has authorized the extension of the Agreement through December 31, 2006, subject to certain amendments being agreed to by the parties; and 
 WHEREAS, the Company and Executive now desire to extend and amend the Agreement as set forth in this Amendment; 
 NOW, THEREFORE, in consideration of the mutual promises made herein and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties, intending to be legally bound, hereby agree as follows: 
 1. Agreement Term. The definition
of “Agreement Term” in Section 1(a) of the Agreement is hereby amended by changing the date in the first sentence from “December 31, 2005” to “December 31, 2006.” 
 2. Compliance With Section 409A.  
 (a) Section 4 of the Agreement is hereby amended by adding the following new subsection 4(a)(i)(C): 
  

	 	“C.	Delayed Payments. To the extent required to comply with Section 409A of the Code, as reasonably determined by the Company’s legal counsel, the payments under this
Section 4(a)(i) shall be delayed to the six-month anniversary of the Date of Termination.” 

 (b) Section 4 of
the Agreement is hereby amended by adding the following new paragraph at the end of subsection 4(a)(ii): 
 “To the extent required to
comply with Section 409A of the Code, as reasonably determined by the Company’s legal counsel, Executive will pay the entire cost of receiving the Welfare Benefits pursuant to his or her COBRA elections for the first six months after the
Date of Termination, 

 and the Company will reimburse Executive for the Company’s share of such costs, as required by
subsection 4(a)(ii)(A), on or as soon as practicable after the six-month anniversary of the Date of Termination.” 
 3. Certain
Additional Payments by the Company. 
 (a) Section 8(a) of the Agreement is hereby amended by adding the following new paragraph
at the end of such Section: 
 “Notwithstanding the foregoing provisions of this Section 8(a), if the Parachute Value (as defined
below) of all Payments does not exceed 105% of Executive’s Safe Harbor Amount (as defined below), then the Company shall not pay Executive a Gross-Up Payment, and the Payments due under 4(a)(i) of this Agreement (the “Cash Severance
Payments”) shall be reduced so that the Parachute Value of all Payments, in the aggregate, equals the Safe Harbor Amount; provided, that if even after all Cash Severance Payments due under this Agreement are reduced to zero, the Parachute
Value of all Payments would still exceed the Safe Harbor Amount, then no reduction of any Cash Severance Payments shall be made and the Gross-Up Payment shall be made. The reduction of the Cash Severance Payments, if applicable, shall be made in
such a manner as to maximize the economic present value of all Payments actually made to Executive, determined by the Accounting Firm for purposes of Section 280G of the Code using the discount rate required by Section 280G(d)(4) of the
Code. For purposes of this Section 8, the “Parachute Value” of a Payment means the present value as of the date of the change of control for purposes of Section 280G of the Code of the portion of such Payment that
constitutes a “parachute payment” under Section 280G(b)(2) of the Code, as determined by the Accounting Firm for purposes of determining whether and to what extent the Excise Tax will apply to such Payment. For purposes of this
Section 8, Executive’s “Safe Harbor Amount” means one dollar less than three times Executive’s “base amount” within the meaning of Section 280G(b)(3) of the Code.” 
 (b) Section 8(b) of the Agreement is hereby amended by deleting the first sentence thereof and replacing it with the following: 
 “Subject to the provisions of Section 8(c), all determinations required to be made under this Section 8, including whether and when a
Gross-Up Payment is required and the amount of such Gross-Up Payment and the assumptions to be used in arriving at such determination, shall be made by an independent, nationally recognized accounting firm or compensation consulting firm mutually
acceptable to the Company and Executive (the “Accounting Firm”), which shall provide detailed supporting calculations both to the Company and the Executive within 15 business days of the receipt of notice from the Executive that
there has been a Payment, or such earlier time as is reasonably requested by the Company.” 
  

 - 2 - 

 (c) Section 8(c) of the Agreement is amended by deleting subsection 8(c)(ii) and replacing it with
the following: 
  

	 	“(ii)	take such action in connection with contesting such claim as the Company shall reasonably request in writing from time to time, including, without limitation, accepting legal
representation with respect to such claim by an attorney reasonably selected by the Company, and designating such attorney as authorized to act on Executive’s behalf with respect to such examination, if necessary, through a power of
attorney,” 

 4. No Other Amendments. Except as expressly set forth herein, the parties make no other
amendment, alteration or modification of the Agreement. 
 IN WITNESS WHEREOF, the parties have executed this Amendment as of the day and
year first above written. 
  

			
	ASSURANT, INC.
		
	By:	 	 /s/ J. Kerry Clayton

		 	J. Kerry Clayton
		 	Chief Executive Officer
	
	EXECUTIVE
	
	 /s/ Donald Hamm

	Donald Hamm

  

 - 3 -Form of Directors Stock Agreement under Directors Compensation Plan

 Exhibit 10.23 
  
 D I R E C T O R S  S T O C K
 A G R E E M E N T 
  
 Non-transferable 
  
 G R A N T  T O 
  
 (“Grantee”) 
  
 by Assurant, Inc. (the
“Company”) of 
  
 shares of its common stock, $0.01 par
value (the “Shares”) 
  
 pursuant to and subject to the provisions of
the Assurant, Inc. Amended and Restated Directors Compensation Plan (the “Plan”) and to the terms and conditions set forth on the following page (the “Terms and Conditions”). 
  
 The Shares are not subject to forfeiture, but are subject to a minimum
holding period as provided in Section 2 of the Terms and Conditions. 
  
 IN WITNESS WHEREOF, Assurant, Inc., acting by and through its duly authorized officers, has caused this Agreement to be executed as of the Grant Date. 
  

					
	ASSURANT, INC.
		
	 By:   
	 	 
	 	 	 [Authorized Officer]
  

	 Grant Date:
  

					
	 Accepted by Grantee:    
	 	 

 TERMS AND CONDITIONS 
  
 1. Grant of Shares.    Assurant, Inc. (the “Company”) hereby grants to the Grantee named on Page 1 hereof (“Grantee”),
subject to the transfer restrictions and the other terms and conditions set forth in the Plan and in this award agreement (this “Agreement”), the number of Shares indicated on Page 1 hereof. Capitalized terms used herein and not otherwise
defined shall have the meanings assigned to such terms in the Plan. 
  
 2.
Minimum Holding Period.    Grantee may not sell, transfer, exchange, assign, pledge, hypothecate or otherwise encumber the Shares to or in favor of any party other than the Company, or subject the Shares to any lien,
obligation or liability of Grantee to any other party other than the Company, until the earlier of (i) the fifth anniversary of the Grant Date, or (ii) Grantee’s termination as a director of the Company for any reason (the
“Minimum Holding Period”). 
  
 4. Delivery of
Shares.    The Shares will be registered in the name of Grantee as of the Grant Date and will be issued in certificated or uncertificated form. Any certificate issued during the Minimum Holding Period with respect to such
Shares shall bear a legend in substantially the following form: 
  
 “This
certificate and the shares of stock represented hereby are subject to the terms and conditions (including restrictions against transfer) contained in a Directors Stock Agreement between the registered owner of the shares represented hereby and
Assurant, Inc. Release from such terms and conditions shall be made only in accordance with the provisions of such Agreement, copies of which are on file in the offices of Assurant, Inc.” 
  
 Stock certificates for the Shares, without the first above legend, shall be delivered to
Grantee or Grantee’s designee upon request of Grantee after the expiration of the Minimum Holding Period. If the Shares are issued in uncertificated form, during the Minimum Holding Period the Company shall instruct the transfer agent not to
permit the transfer of the Shares until the expiration of the Minimum Holding Period. 
  
 5. Voting and Dividend Rights.    Grantee, as beneficial owner of the Shares, shall have full voting and dividend rights with respect to the Shares during and after the Minimum Holding Period. 
  
 6. Changes in Capital Structure.    The provisions of the Plan
shall apply in the case of a change in the capital structure of the Company. Without limiting the foregoing, in the event of a subdivision of the outstanding Common Stock (stock-split), a declaration of a dividend payable in Common Stock, or a
combination or consolidation of the outstanding Common Stock into a lesser number of shares, the Shares then subject to this Agreement shall automatically be adjusted proportionately, and any resulting shares payable with respect to the Shares
granted hereby shall be subject to any remaining Minimum Holding Period for such Shares. 
  
 7. No Right of Continued Service.    Nothing in this Agreement shall confer upon Grantee any right to continue as a director of the Company. 
  
 8. Tax Effects.    Because the Shares are not subject to
forfeiture, Grantee will recognize ordinary income on the Grant Date equal to fair market value of the Shares as of the Grant Date, notwithstanding the transfer restrictions. 
  
 9. Plan Controls.    The terms contained in the Plan are incorporated into and made a part of this Agreement, and
this Agreement shall be governed by and construed in accordance with the Plan. In the event of any actual or alleged conflict between the provisions of the Plan and the provisions of this Agreement, the provisions of the Plan shall be controlling
and determinative. 
  
 10. Successors.    This
Agreement shall be binding upon any successor of the Company, in accordance with the terms of this Agreement and the Plan. 
  
 11. Severability.    If any one or more of the provisions contained in this Agreement is invalid, illegal or unenforceable, the other
provisions of this Agreement will be construed and enforced as if the invalid, illegal or unenforceable provision had never been included. 
  
 12. Notice.    Notices and communications under this Agreement must be in writing and either personally delivered or sent by registered or
certified United States mail, return receipt requested, postage prepaid. Notices to the Company must be addressed to: 
  
         Assurant, Inc. 
         One Chase Manhattan Plaza, 41st Floor 
         New York, New York 10005 
         Attn: Secretary

  
 or any other address designated by the Company in a written notice to Grantee.
Notices to Grantee will be directed to the address of Grantee then currently on file with the Company, or at any other address given by Grantee in a written notice to the Company.

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