Document:

exv10w23

	 	 	 
	 

	 	

JAN
30, 2009

	 	 	 
	 

	 	William Villany

Regional Clients
	 
	 	 
	 

	 	January 28, 2009

Mr. Rollin Rissinger, President

Mr. Keith Ulsh, Treasurer

Lebanon Mutual Insurance Company

POB 2005

Cleona, PA 17042-1322

Subject: 2009 Reinsurance Program

Dear Rollin and Keith:

As agreed, effective 1/1/09 the Lebanon Mutual Insurance Company treaty reinsurance program with
MRAm is as follows:

Property Excess Program 

1st Property Excess

2009 Estimated property SWP = $6,420,062

$135,000
xs $115,000 p/r ($405,000 p/occ.)

	 	 	 	 	 
	Rate:
	 	 	8.37	%
	Est. Premium:
	 	$	537,359	 
	Deposit Premium:
	 	$	537,000	 
	Minimum Premium:
	 	$	430,000	 

	 	 	 
	Munich Reinsurance America, Inc.

	 	Tel.: +1 (609) 419-8608
	555 College Road East

	 	Fax: +1 (609) 243-4300
	P.O. Box 5241

	 	E-mail: wvillany@munichreamerica.com
	Princeton, NJ 08543-5241

	 	http://www.munichreamerica.com
	USA
	 	 

 

 

	 	 	 
	Page 2 of 7 pages

January 28, 2009

	 	

2nd Property Per Risk Excess

$750,000 xs $250,000 p/r ($1,500,000 p/occ.)

	 	 	 	 	 
	Rate:
	 	 	5.39	%
	Est. Premium:
	 	$	346,041	 
	Deposit Premium:
	 	$	346,000	 
	Minimum Premium:
	 	$	277,000	 

	§ 	 	Deposit premium paid 2/15, 5/15, 8/15 and 11/15.

	§ 	 	Terrorism – as respects property, the following annual aggregate shall apply:

1st property xs = $405,000

2nd property xs = $1,500,000

2009 Property Catastrophe Program

2009 Estimated Catastrophe SWP: $5,436,662

1st Catastrophe Excess (Option A)

95% of $1,900,000 xs $600,000 p/occ.

	 	 	 	 	 
	Rate:
	 	 	2.392	%
	Est. Premium:
	 	$	130,045	 
	Deposit Premium:
	 	$	130,000	 
	Minimum Premium:
	 	$	104,000	 

2nd
Catastrophe Excess

95% of $2,500,000 xs $2,500,000 p/occ.

	 	 	 	 	 
	Rate:
	 	 	2.010	%
	Est. Premium:
	 	$	109,277	 
	Deposit Premium:
	 	$	109,000	 
	Minimum Premium:
	 	$	88,000	 

	 	 	 
	Munich
Reinsurance America, Inc.

	 	Tel.: +1 (609) 419-8608
	555 College Road East

	 	Fax: +1 (609) 243-4300
	P.O. Box 5241

	 	E-mail: wvillany@munichreamerica.com
	Princeton, NJ 08543-5241

	 	http://www.munichreamerica.com
	USA
	 	 

 

 

	 	 	 
	Page 3 of 7 pages

January 28, 2009

	 	

3rd Catastrophe Excess

95% of $1,500,000 xs $5,000,000 p/occ.

	 	 	 	 	 
	Rate:
	 	 	0.718	%
	Est. Premium:
	 	$	39,035	 
	Deposit Premium:
	 	$	39,000	 
	Minimum Premium:
	 	$	32,000	 

	§ 	 	Deposit premiums are payable quarterly in advance.

	§ 	 	Terrorism – as respects personal lines, losses from NBCR materials are excluded. As
respects commercial lines, losses certified under the Federal Act are excluded. Non-certified
losses under the Federal Act are excluded if loss is caused by NBCR materials.

	§ 	 	Information Technology Hazards Clarification Clause is added to the occurrence definition.

Losses arising, directly or indirectly, out of:

(i) loss of, alteration of, or
damage to

or

(ii) a
reduction in the functionality, availability or operation of:

a computer system, hardware, programme, software, data, information repository, microchip,
integrated circuit or similar device in computer equipment or non-computer equipment,
whether the property of the policyholder of the reinsured or not, do not in and of
themselves constitute an event unless arising out of one or more of the following perils:

fire, lightning, explosion, aircraft or vehicle impact, falling objects, windstorm, hail,
tornado, cyclone, hurricane, earthquake, volcano, tsunami, flood, freeze or weight of snow.

	§ 	 	Other terms and conditions as expiring.

	 	 	 
	Munich Reinsurance America, Inc.

	 	Tel.: +1 (609) 419-8608
	555 College Road East

	 	Fax: +1 (609) 243-4300
	P.O. Box 5241

	 	E-mail: wvillany@munichreamerica.com
	Princeton, NJ 08543-5241

	 	http://www.munichreamerica.com
	USA
	 	 

 

 

	 	 	 
	Page 4 of 7 pages

January 28, 2009

	 	

Casualty Excess Program

2009 estimated casualty subject earned premium = $5,499,911

1st Casualty Excess

$385,000 xs $115,000 each occ.

	 	 	 	 	 
	Rate:
	 	 	28.50	%
	Est. Premium:
	 	$	1,567,475	 
	Ceding Commission:
	 	 	30	%
	Deposit Premium:
	 	$	1,567,000	 
	Minimum Premium:
	 	$	1,250,000	 

	§ 	 	$1,600,000 annual aggregate as respects Workers Compensation.

2nd Casualty Excess 

	$500,000 xs $500,000 each occ.

	 	 	 	 	 
	Rate:
	 	 	8.35	%
	Est. Premium:
	 	$	459,000	 
	Ceding Commission:
	 	 	30	%
	Deposit Premium:
	 	$	459,000	 
	Minimum Premium:
	 	$	367,000	 

	§ 	 	$1,500,000 annual aggregate as respects Workers Compensation.

3rd Casualty Excess (WC and Clash)

$1,000,000 xs $1,000,000 each occ.

	 	 	 	 	 
	Rate:
	 	 	4.72	%
	Est. Premium:
	 	$	259,600	 
	Ceding Commission:
	 	 	30	%
	Deposit Premium:
	 	$	259,000	 
	Minimum Premium:
	 	$	207,000	 

	 	 	 
	Munich Reinsurance America, Inc.

	 	Tel.: +1 (609) 419-8608
	555 College Road East

	 	Fax: +1 (609) 243-4300
	P.O. Box 5241

	 	E-mail: wvillany@munichreamerica.com
	Princeton, NJ 08543-5241

	 	http://www.munichreamerica.com
	USA
	 	 

 

 

	 	 	 
	Page 5 of 7 pages

January 28, 2009

	 	

One free reinstatement as respects Workers Compensation. For clash portion, one paid
reinstatement at pro rata amount and 100% time. Clash premium is 44% of the total for this layer.

4th Casualty Excess (uninsured and underinsured motorists)

$1,000,000 xs $2,000,000 each occ.

	 	 	 	 	 
	Flat Premium:
	 	$	35,000	 
	Ceding
 Commission:
	 	 	30	%
	Deposit Premium:
	 	$	35,000	 
	Minimum Premium:
	 	$	35,000	 

Workers Compensation Excess

$3,000,000 xs $2,000,000 each occ.

	 	 	 	 	 
	Rate:
	 	4.38	% (rate x WC SEP of $1,902,797)
	Flat Premium:
	 	$	83,343	 
	Deposit Premium:
	 	$	83,000	 
	Minimum Premium:
	 	$	66,000	 

	§ 	 	ECO/XPL covered at 80%.

	§ 	 	Terrorism losses caused by NBCR materials are excluded.

	§ 	 	Reinstatements – one, pro rata amount, 100% as to time.

	 
	For
All Casualty Layers:

	§ 	 	Deposit premiums for all layers are at 2/15, 5/15, 8/15 and 11/15.

	§ 	 	Terrorism – for layers one through four there are no annual aggregate limitations.

	§ 	 	Other terms and conditions as expiring.

	 	 	 
	Munich Reinsurance America, Inc.

	 	Tel.: +1 (609) 419-8608
	555 College Road East

	 	Fax: +1 (609) 243-4300
	P.O. Box 5241

	 	E-mail: wvillany@munichreamerica.com
	Princeton, NJ 08543-5241

	 	http://www.munichreamerica.com
	USA
	 	 

 

 

	 	 	 
	Page 6 of 7 pages

January 28, 2009

	 	

Rollin, Keith, we will prepare the appropriate contract changes as soon as possible. Thank
you for your continued confidence in Munich Re America.

Best regards,

			
	c:	 	J. Morrissey

J. Ryan

	 	 	 
	Munich Reinsurance America, Inc.

	 	Tel.: +1 (609) 419-6608
	555 College Road East

	 	Fax: +1 (609) 243-4300
	P.O. Box 5241

	 	E-mail: wvillany@munichreamerica.com
	Princeton, NJ 08543-5241

	 	http://www.munichreamerica.com
	USAexv10w118

Exhibit 10.118

AMENDMENT NO. 2 TO LEASE

February 27, 2009

This Amendment, Modification and Ratification of Lease is executed on the date last below stated,
by and between West Point Holdings, LLC successor-in-interest to Duke Realty Limited
Partnership, an Indiana limited partnership, (“Landlord”) and Sedona Corporation.
(“Tenant”).

By commercial Lease Agreement dated October 31, 2003, as amended by an instrument on
November 22, 2005, (collectively, the “Lease”), Landlord leased to Tenant approximately 630
rentable square feet of office/warehouse space (the “Original Premises”) in the Industrial
Complex known as West Point, building II and having an address of 13895 Industrial Park Blvd,
Plymouth, MN 55441 (the “Demised Premises”). Tenant has requested to renew the Lease and
Landlord and Tenant have agreed upon the terms and conditions in accordance with this Amendment.

In consideration of the mutual obligations and benefits hereof, Landlord and Tenant agree as
follows:

	 	1.	 	Landlord and Tenant agree that the Leased Premises shall be Suite 105, 13895
Industrial Park Blvd, Plymouth
MN 55441 and the Rentable Area shall consist of 894 rentable square feet.
	 
	 	2.	 	Building Expense Percentage: 5.35%
	 
	 	3.	 	Commencing on May 1, 2009 (“Commencement Date”) the lease term shall be
extended for Twenty-Four (24)
months and terminating on April 30, 2011 (“Termination Date”). The monthly
Base Rental as defined in the
Lease shall be as follows:

	 	 	 	 	 	 	 	 	 
	Month	 	Base Rent PSF/Annum	 	Monthly Base Rent
	May 1, 2009 - April 30, 2010
	 	$	7.85	 	 	$	585.00	 
	May 1, 2010-April 30, 2011
	 	$	8.12	 	 	$	605.00	 

Tenant shall pay Landlord for each day Tenant retains possession of the Premises or any part
thereof after termination of this amendment, by lapse of time or otherwise, an amount which is
150% of the amount of Rent for a day (computed on a year of 360 days) based on the annual rate
of Base Rent and Additional Rent applicable to the period in which such possession occurs (and
if such possession occurs following the full term of this Lease, 150% of the annual Base Rent
and Additional Rent applicable in the last year of this Lease), and Tenant shall also pay all
damages, consequential as well as direct, sustained by Landlord by reason of such retention.
If Landlord gives written notice to Tenant of Landlord’s election thereof such holding over
shall constitute a renewal of this Lease for one year at a market rate determined by Landlord,
but acceptance by Landlord of rent after such termination shall not of itself constitute a
renewal. Nothing in this Section contained, however, shall be construed or operate as a waiver
of Landlord’s right of re-entry or any other right of Landlord.

	 	4.	 	Additional Rent. In addition to the above monthly Base Rental, Tenant shall
continue to be responsible for its
Proportionate Share of the Operating Expenses, Real Estate Taxes and Common Areas together
with all other
sums of money that become due and payable by Tenant to Landlord under the terms of the
Lease. Tenant to
include an additional five hundred eight dollars and nine cents ($508.09) per
month with the Base Rental
payment as an estimated amount for actual Operating Expenses, Real Estate Taxes and Common
Areas for the
year 2009, subject to adjustment per the Lease.
	 
	 	5.	 	Tenant Improvements. Landlord is providing the Premises during the
Extension Term in its current “AS IS”
condition, without representation or warranty of any kind. Landlord shall have no
obligation to make any
modifications or alterations to the Premises, except to create air-flow in the server
room. Landlord shall
complete the Tenant Improvements at Landlord’s sole cost and expense; not to exceed One
Thousand Dollars
($1,000.00)
	 
	 	6.	 	Renewal Option. Tenant shall have one (1) option to renew their lease for
two (2) years at the then determined
current market rates by giving Landlord written notice no later than nine (9) months prior
to Termination Date.
	 
	 	7.	 	Tenant acknowledges that it has not utilized the services of any real estate firm
other than Coldwell Banker
Commercial Griffin Companies and NorthMarq Real Estate Brokerage LLC in this transaction.

Except as expressly modified herein, all other terms of the Lease are hereby ratified and
affirmed in all respects and are in full force and effect.

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	LANDLORD:	 	 	 	TENANT:	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	West Point Holdings, LLC	 	 	 	Sedona Corporation	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Craig Zoellner	 	 	 	By:	 	/s/ Anita
M. Primo 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 

	 	Its:
	 	Manager
	 	 	 	 	 	Its:
	 	Vice President, CFO	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Date: 3/30/09	 	 	 	Date: 3.19.08

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}]]