Document:

Exhibit 10.6.3

    

    

    CONIFER HOLDINGS, INC.

    

    

    
      

    

    

    THIRD AMENDMENT

    Dated as of May 9, 2022

    

    

    to the

    

    

    AMENDED AND RESTATED NOTE PURCHASE AGREEMENT

    Dated as of September 25, 2018

    

    

    RE: $10,500,000 7.5%/12.5% Subordinated Notes due September 30, 2038

    
      
        

    

    

    

    THIRD AMENDMENT TO THE AMENDED AND RESTATED

    NOTE PURCHASE AGREEMENT

    

    

    This Third Amendment dated as of May 9, 2022 (this “Third Amendment”) to the Amended and Restated Note Purchase Agreement dated as of September 25, 2018 is
      between Conifer Holdings, Inc., a Michigan corporation (the “Company”), and each of the institutions which is a signatory to this Third Amendment (collectively, the “Noteholders”).

    

    

    RECITALS:

    

    

    A.          The Company and the Purchasers have heretofore entered into the Amended and Restated Note Purchase Agreement dated as of September 25, 2018, as amended on December 13, 2018 and June 21,
      2019 (as amended, the “Amended and Restated Note Purchase Agreement”). The Company has heretofore issued $10,500,000 aggregate principal amount of its 7.5%/12.5% Subordinated Notes due September 30, 2038
      pursuant to the Amended and Restated Note Purchase Agreement. The Noteholders constitute the Required Holders as defined in the Amended and Restated Note Purchase Agreement.

    

    

    B.          The Company and the Noteholders now desire to amend the Amended and Restated Note Purchase Agreement, but only in the respects, hereinafter set forth.

    

    

    C.          Capitalized terms used herein shall have the respective meanings ascribed thereto in the Amended and Restated Note Purchase Agreement unless herein defined or the context shall otherwise
      require.

    

    

    NOW, THEREFORE, in consideration of good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the Company and the
      Noteholders do hereby agree as follows:

    

    

    SECTION 1.         AMENDMENT.

    

    

    Section 1.1. The following definition set forth in Schedule B of the Amended and Restated Note Purchase Agreement is amended and restated in its entirety
      to read as follows:

    

    

    “Net Worth” means as of any date of determination shareholders’ equity, including all common stock, Preferred Stock and any minority interests of the Company
      and its consolidated Subsidiaries, excluding the cumulative impact to Net Worth from changes in net unrealized gains or losses from investments since December 31, 2021, as of such date as determined in accordance with GAAP as in effect on the date of
      this Agreement.

    

    

     SECTION 2.         MISCELLANEOUS.

    

    

    Section 2.1. This Third Amendment shall be construed in connection with and as part of the Amended and Restated Note Purchase Agreement, and except as
      modified and expressly amended by this Third Amendment, all terms, conditions and covenants contained in the Amended and Restated Note Purchase Agreement are hereby ratified and shall be and remain in full force and effect.

    
      
        

    

    

    

    Section 2.2. Any and all notices, requests, certificates and other instruments executed and delivered after the execution and delivery of this Third
      Amendment may refer to the Amended and Restated Note Purchase Agreement without making specific reference to this Third Amendment but nevertheless all such references shall include this Third Amendment unless the context otherwise requires.

    

    

    Section 2.3. The descriptive headings of the various Sections or parts of this Third Amendment are for convenience only and shall not affect the meaning or
      construction of any of the provisions hereof.

    

    

    Section 2.4. This Third Amendment shall be governed by and construed in accordance with New York law, excluding choice-of-law principles of the law of such
      State that would permit the application of the laws of a jurisdiction other than such State.

    

    

    [The remainder of this page has been intentionally left blank.]

    
      
        

    

    

    

    IN WITNESS WHEREOF, the parties hereto have caused their duly authorized officers to execute and deliver this Third Amendment as of the date first set forth above.

    

    

    	 	
            ELANUS CAPITAL INVESTMENTS MASTER SP SERIES 3

          
	 	 
	 	 
	 	
            By:

          	
            /s/ Jon Imundo

          
	 	
            Name:

          	
            Jon Imundo

          
	 	
            Title:

          	
            Authorized Signatory

          

    

    

    

    

    	 	
            CONIFER HOLDINGS, INC.

          
	 	 
	 	 
	 	
            By:

          	
            /s/ Harold Meloche

          
	 	
            Name:

          	
            Harold Meloche

          
	 	
            Title:

          	
            Chief Financial Officer

          

    

    

    [Signature Page to Third Amendment]Exhibit 10.8

    

    

    Waiver Letter

    

    

    May 11, 2022

    

    

    Conifer Holdings, Inc.

    550 W. Merrill Street

    Suite 200

    Birmingham, MI 48009

    

    

    	

          	Re:	
            Credit Agreement dated June 21, 2018 between Conifer Holdings, Inc. (“Borrower”) and The Huntington National Bank, as amended (“Credit Agreement”)

          

    

    

    Gentlemen:

    

    

    The Borrower has advised the Bank that it violated the provisions of Section 8.15(a) and 8.15(e) of the Credit Agreement for period ending March 31, 2022 (the “Covenant
      Violations”). The Borrower has requested that the Bank waive any Event of Default under the Credit Agreement resulting from the Covenant Violations. The Bank hereby waives such Events of Default (“Waiver”). This Waiver shall become effective upon (a)
      payment by Borrower to Bank of a non-refundable waiver fee in the amount of $5,000.00 and (b) receipt by Bank of a waiver of any existing defaults or events of default under the Note Purchase Agreement.

    

    

    The Waiver shall not be deemed to amend or alter in any respect the terms and conditions of the Credit Agreement, or to constitute a waiver or release by the Bank of any right,
      remedy or Event of Default under the Credit Agreement, except to the extent expressly set forth above. Furthermore, the Waiver shall not affect in any manner whatsoever any rights or remedies of the Bank with respect to any other non-compliance by
      Borrower with the Credit Agreement whether in the nature of an Event of Default or otherwise, and whether now in existence or subsequently arising.

    

    

    Except as specifically defined to the contrary herein, capitalized terms used in this Waiver shall have the meanings given them in the Credit Agreement.

    

    

    The Credit Agreement is confirmed as being in full force and effect. This Waiver shall be governed by and construed in accordance with the laws of the State of Michigan. Section
      11.5 and 11.10 of the Credit Agreement are incorporated herein mutatis mutandis.

    
      
        

    

    

    

    	 	
            Very truly yours,

          
	 	 	 
	 	
            THE HUNTINGTON NATIONAL BANK

          
	 	 	 
	 	
            By:

          	
            /s/ T. Elliot Shafer

          
	 	 	
            T. Elliot Shafer

          
	 	
            Its:

          	
            Vice President

          

    

    

    	
            Acknowledge and Agreed:

          	 
	 	 	 
	
            CONFER HOLDINGS, INC.

          	 
	 	 	 
	
            By:

          	
            /s/ Harold Meloche

          	 
	 	Harold Meloche	 
	
            Its:

          	
            CFO

          	 

    

    

    [Signature Page to Waiver Letter (4877-4301-1870)]Exhibit 10.9

    

    

    Waiver Letter

    

    

    May 9, 2022

    

    

    Conifer Holdings, Inc.

    550 W. Merrill Street

    Suite 200

    Birmingham, MI 48009

    

    

    	

          	Re:	
            Waiver re: Amended and Restated Note Purchase Agreement

          

    

    

    Gentlemen:

    

    

    Reference is made to that certain Amended and Restated Note Purchase Agreement dated as of September 25, 2018, as
      amended on December 13, 2018 and September 25, 2018 (as further amended, modified or revised from time to time, the “Note Purchase Agreement”), among Conifer
      Holdings, Inc., a Michigan corporation (the “Company”), Elanus Capital Investments Master SP Series 3 (the “Purchaser”) and the other purchasers from time to time party thereto.  Capitalized terms used and not defined herein shall have the meanings assigned to them in the Note Purchase Agreement.

    

    

    The Company has advised the Purchaser that it violated the provisions of Section 11.1 and 11.6 of the Note Purchase
      Agreement for period ending March 31, 2022 (the “Covenant Violations”). The Company has requested that the Purchaser waive any Event of Default under the Note
      Purchase Agreement resulting from the Covenant Violations. The Purchaser hereby waives such Events of Default (“Waiver”).

    

    

    This Waiver is limited and shall not constitute a waiver or consent with respect to any other current or future departure from the
      requirements of, violation of, or noncompliance with any provision of the Note Purchase Agreement or a waiver of the Purchaser’s right to insist upon strict compliance with each term, covenant, condition and provision of the Note Purchase Agreement.

    

    

    Delivery of an executed signature page of this Waiver or any delivery contemplated hereby by facsimile or electronic transmission shall be
      as effective as delivery of a manually executed counterpart thereof.  The Note Purchase Agreement is confirmed as being in full force and effect.  This Waiver shall be governed by and construed in accordance with the laws of the State of New York. 
      Sections 22.7 and 22.8 of the Note Purchase Agreement are incorporated herein mutatis mutandis.

    

    

    [The remainder of this page has been
        intentionally left blank.]

    
      
        

    

    

    

    IN WITNESS WHEREOF, the Company and the Purchaser have
      executed this Waiver as of the date first listed above.

    

    

    	 	
            ELANUS CAPITAL INVESTMENTS MASTER SP SERIES 3

          
	 	 	 
	 	 	 
	 	
            By:

          	
            /s/ Jon Imundo

          
	 	
            Name:

          	
            Jon Imundo

          
	 	
            Title:

          	
            Authorized Signatory

          
	 	 	 
	 	 	 
	 	 	 
	 	
            CONIFER HOLDINGS, INC.

          
	 	 	 
	 	 	 
	 	
            By:

          	
            /s/ Harold Meloche

          
	 	
            Name:

          	
            Harold Meloche

          
	 	
            Title:

          	
            Chief Financial Officer

          

    

    

    [Signature Page to Waiver Letter]

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