Document:

Service agreement with independent director Fan Yingjun

 Exhibit 4.18 
  
 Independent Non-executive Director’s Service Agreement 
  
 between 
  
 China Life Insurance Company Limited 
  
 and 
  
 Mr. Fan Yingjun 
  
 Beijing, October 9, 2004 

 Contents 
  

					
	1.	  	Definitions and Interpretation.	  	3
			
	2.	  	Appointment.	  	4
			
	3.	  	Term.	  	4
			
	4.	  	Party B’s Duties.	  	4
			
	5.	  	Liability.	  	5
			
	6.	  	Indemnification.	  	5
			
	7.	  	Compensation and Reimbursement.	  	6
			
	8.	  	Effect of Limitation.	  	6
			
	9.	  	Termination.	  	6
			
	10.	  	Notice.	  	6
			
	11.	  	Confidentiality.	  	7
			
	12.	  	Governing Law and Dispute Settlement.	  	7
			
	13.	  	Miscellaneous.	  	9

  
  

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 This Agreement is entered into on October 9, 2004 by and between the following two parties: 
  

	(a)	China Life Insurance Company Limited (“Party A”), a joint stock limited company duly organized and existing under the laws of the People’s Republic of China (the
“PRC”) (Business License Number: 1000001003796), with its registered address at China Life Building, No. 16 Chaowai Avenue, Chaoyang District, Beijing; and 

  

	(b)	Fan Yingjun (“Party B”), his ID/passport number being 130404431110301. 

  
 Party A and Party B agree as follows: 
  

	1.	Definitions and Interpretation. 

  

	1.1	Definitions. 

  
 For the purpose of this Agreement, unless otherwise provided herein: 
  
 “RMB” refers to the legal currency of the PRC and its basic unit is “yuan”. 
  
 “Board” refers to Party A’s board of directors. 

 
 “Company Law” refers to the Company Law of the PRC as passed by
the Fifth Session of the Standing Committee of the Eighth National People’s Congress on December 29, 1993 and amended by the Thirteenth Session of the Standing Committee of the Ninth National People’s Congress on December 25, 1999.

  
 “Insurance Law” refers to the Insurance Law of the
PRC as passed by the Fourteenth Session of the Standing Committee of the Eighth National People’s Congress on June 30, 1995 and amended by the Thirtieth Session of the Standing Committee of the Ninth National People’s Congress on October
28, 2002. 
  
 “Special Regulation” refers to the State
Council’s Special Regulation on Overseas Offering and Listing of Joint Stock Limited Company promulgated by No. 160 Order of the State Council of the PRC on August 4, 1994. 
  
 “Qualification Rules” refers to the Qualification Rules of Senior Management at Insurance Company put into effect
by China Insurance Regulatory Commission on April 1, 2002. 
  
 “Month” refers to a calendar month. 
  

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	1.2	Interpretation. 

  
 Unless otherwise provided herein, for the purpose of this Agreement, 
  

	 	(a)	A “Party” means the party or parties hereto; 

  

	 	(b)	“Article” or “Clause” are the articles or clauses hereof; 

  

	 	(c)	This Agreement shall be construed as the agreement may be extended, amended, altered or supplemented from time to time; and 

  

	 	(d)	All titles are for reference only and shall not have any bearing on the interpretation of this Agreement. 

  

	2.	Appointment. 

  
 Party A agrees to employ Party B in accordance with the terms and conditions hereof, while Party B agrees to serve as independent non-executive director
on the Board in accordance with the terms and conditions hereof. 
  

	3.	Term. 

  
 Unless otherwise provided in Article 9, Party B shall be employed by Party A for a three-year term starting from the date of the resolution of
shareholders’ general meeting to employ Party B as independent non-executive director on the Board. Such term shall be renewed upon reelection or reappointment, subject to the approvals of both Parties. This Agreement shall continue to be in
effect upon Party B’s reelection or reappointment, unless so terminated as provided by Article 9. 
  

	4.	Party B’s Duties. 

  

	 	4.1	Party B hereby undertakes to Party A that he shall, within his term, 

  

	 	(a)	as Party A’s director, perform such duties as assigned from time to time by the Board and exercise such powers as delegated from time to time by the Board;

  

	 	(b)	comply with and conform to any legitimate instructions or guidance issued or made by the Board from time to time and serve Party A to the extent of fiduciary duty and care, and
improve Party A’s business and protect Party A’s interest as a whole with his best effort; and 

  

	 	(c)	concentrate on and devote his diligence to Party A’s business and interest, and handle Party A’s business and interest in person during any course of normal business hours
and such other time as reasonably requested by Party A, with the exemption for those Party B is unable to perform due to illness or Force Majeure, and where shall notify the secretary of the Board in writing of such situation and submit such
evidence for the illness or Force Majeure as maybe requested by Party A. 

  

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	4.2	Party B’s Undertakings: 

  

	 	(a)	To Party A, Party B undertakes to comply with and conform to the Company Law, the company’s articles of association, Acquisition and Merger Rules and Share Repurchase Rules set
forth by the Securities and Futures Commission of Hong Kong. Party A shall be entitled to the remedies provided in the company’s articles of association. This Agreement and the position of director may not be transferred.

  

	 	(b)	To Party A representing each shareholder, Party B undertakes to follow and perform all the responsibilities to shareholders provided in the Company’s Articles of Association.

  

	5.	Liability. 

  
 Party B shall be liable for all the losses of the company incurred by his violation of laws, the company’s articles of association and this Agreement
during the performance of his duties. 
  

	6.	Indemnification. 

  
 Party B shall not be liable for all the losses and liability of the company or some third party directly or indirectly incurred by his performance of his
duties, provided he performs his fiduciary duties and to the company’s best interest or not in violation of the company’s best interest based on his reasonable judgment. Under the foregoing circumstances, Party A shall fully indemnify
Party B for all the losses suffered by Party B, or legal fees, expenses and damages arising out of any criminal or civil liability borne by Party B or the legal defense for the persecution and litigation against Party B incurred by the company or
some third party. If Party B has no reasonable cause to be aware of the violation of laws and relevant rules by his action, he shall not be liable for any criminal proceedings or procedures incurred by such action. Party A shall be liable for all
the losses and liabilities arising from such action. 
  
 Party B
shall be liable for the Board’s resolution. Any director participating in a Board resolution which is in violation of laws, administrative regulations or the company’s articles of association and results in losses of Party A shall be
liable for the damages of Party A. If Party B is able to prove his disapproval of such resolution at the voting and show such record in the minutes, he shall not be liable for such resolution. 
  

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	7.	Compensation and Reimbursement. 

  

	 	7.1	As the allowance for the duties set forth in Article 4, Party A shall compensate Party B for his service during his term in accordance with the annual allowance standard approved by
shareholders’ general meeting. 

  

	 	7.2	Party A shall reimburse Party B for all the necessary and reasonable expenses (including travel expense, food and lodging expense and other actual expense) justifiably arising from
the performance of the duties provided herein during his term, and may request Party B to produce relevant receipts and evidence. 

  

	8.	Effect of Limitation. 

  
 Although both Parties consider the limitation provided herein to be reasonable under various circumstances, both Parties agree that with regard to the
protection of the company’s confidential information and other legal investment interest, such limitation as a whole is considered beyond the reasonable bound and impossible to be implemented, however, once a part or several parts of it is or
are removed and it is considered to be reasonable and executable, such limitation shall be applied as if such part or parts is or are removed. 
  

	9.	Termination. 

  

	 	9.1	If Party B, during his term, is in material violation of the terms and conditions herein, or severely damages Party A’s interest, or is bankrupt or unable to pay up his
personal debts, or commits serious criminal offense, or is under the situation set forth in Article 57 and Article 58 of the Company Law which disqualifies him as the director, or violates the provisions in the Insurance Law and Qualification Rules
with respect to the servitude of senior management at an insurance company, or is deemed as a person who is prohibited to access the market by the China Securities Regulatory Commission pursuant to Article 4 of the Temporary Rules on Access
Prohibition of Securities Market, Party A shall remove him from the Board immediately after the approval of such resolution at a shareholders’ meeting. Party B shall not claim for any damages for such removal after he’s removed from the
Board. 

  

	 	9.2	Party B shall resign from the Board forthwith upon the termination of the appointment regardless of any reasons. 

  

	10.	Notice. 

  
 Any notice or other communication made by one Party pursuant to the provisions herein shall be in writing and in Chinese, and be delivered in person or
sent via registered mail to the legally registered address of the other Party or be faxed to 
  

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 the fax number provided by the other Party. The date upon which such notice is deemed to be effectively made shall be
determined as follows: 
  

	(a)	Any notice delivered by special courier shall be deemed to be effectively made on the date of the delivery by such special courier. 

  

	(b)	Any notice sent via registered mail shall be deemed to be effectively made on the seventh day (if the last day is Sunday or public holiday, the next working day,) of the posting (as
indicated by the postmark). 

  

	(c)	Any notice sent by fax shall be deemed to be made upon the completion of faxing. The person sending the notice shall attach the report printed by the fax machine on the faxed
document so as to prove that such document has been successfully faxed to the other Party. 

  
 Contact addresses or fax numbers of both Parties are as follows: 
  
 Party A: China Life Insurance Company Limited 
  
 Address: China Life Building, 16 Chaowai Avenue, Chaoyang District, Beijing 
  
 Attention: Liu Tingan 
  
 Fax number: 86-10-85252260 
  
 Party B: Fan Yingjun 
  
 Address: No. 15 Sector 1, Fengtai Village 
  
 Fax number: 86-10-63790482 
  
 Any Party who changes address or fax number shall notify the other Party in writing within one week of such change in accordance with the provisions of this Article.

  

	11.	Confidentiality. 

  
 Party B is aware that he shall have access to the confidential business information of Party A, including without limitation, documents, materials,
figures, information and plans. Party A confirms that such confidential information is solely owned by Party A and Party B shall be obligated to keep them confidential. 
  

	12.	Governing Law and Dispute Settlement. 

  
 12.1 All the disputes arising from the Agreement shall be settled through friendly negotiations by both Parties. If such negotiation fails, they shall

  

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 be submitted for arbitration in accordance with the following terms in respect of arbitration:

  

	 	(a)	All disputes or claims between (i) Party A and Party B and (ii) Party A’s shareholders and Party B arising out of the rights and obligations hereunder and under the
Company’s Articles of Association, the Company Law and other relevant laws and administrative regulations and relating to the affairs of Party A shall be submitted for arbitration. 

  
 All parts of such disputes or claims shall be subject to arbitration. The
Company or any of its shareholders, directors, supervisors, managers or other senior management who have the same cause of action or are required for the settlement of relevant dispute or claim shall comply with arbitration. 
  
 Disputes over shareholder identification and register of shareholders may
not be submitted for arbitration. 
  

	 	(b)	Either Party may submit the disputes or claims described above to China International Economic Trade Arbitration Commission or to Hong Kong International Arbitration Center for
arbitration in accordance with their respective arbitration rules. A Party shall be subject to arbitration by the arbitration body the other Party has chosen after such dispute or claim has been submitted to such arbitration body by the other Party.

  
 If Hong Kong International Arbitration Center
is selected, either Party may, in accordance with its arbitration rules, file for the change of arbitration venue to Shenzhen. 
  

	 	(c)	Unless otherwise provided by laws, administrative laws and rules, the resolution by arbitration of the disputes or claims set forth herein shall be governed by the laws of the PRC.

  

	 	(d)	The arbitration award shall be final and binding on both Parties. 

  

	 	(e)	The terms regarding arbitration provided herein are agreed upon by both Parties, with Party A on behalf of both itself and each of its shareholders. 

  

	 	(f)	The submission for arbitration shall be deemed as authorizing the arbitration court to publicly hear the case and announce its arbitration award. 

  

	12.2	The execution, effectiveness, interpretation and performance of the Agreement shall be governed by the laws of the PRC. 

  

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	13.	Miscellaneous. 

  

	 	13.1	The Agreement was executed by both Parties or their respective authorized representatives on the date set forth in the beginning of the Agreement. The Agreement shall come into
effect upon the execution by both Parties and its effectiveness shall retroactively commence upon the date when Party B is appointed as an independent non-executive director. If necessary, both Parties may execute different counterparts of the
Agreement. Upon execution, each such counterpart shall be deemed as an original of the Agreement, and all of them shall jointly constitute the Agreement and shall be deemed to be executed on the date set forth in the beginning of the Agreement
notwithstanding each of its execution date. 

  

	 	13.2	Any amendment to the Agreement shall only be made in the form of a written agreement, signed by both Parties and approved by appropriate corporate actions taken by Party A.

  

	 	13.3	The illegality, invalidity or unenforceability of any term or condition hereof shall not affect the legality, validity or enforceability of the other terms and conditions hereof.

  

	 	13.4	Party B shall comply with any rules and systems set down by Party A pursuant to laws and regulations of the PRC. Party A shall have the right to make amendments and supplements to
such rules and systems and issue reward or punishment to Party B accordingly. 

  

	 	13.5	This Agreement shall be executed in Chinese. 

  

	 	13.6	Non-exercise or delayed exercise of any right, power, or privilege hereunder on the part of Party A shall not constitute the waiver of such right, power, or privilege.

  

	 	13.7	All matters not addressed herein shall be governed by relevant laws and regulations and local regulations of the PRC. 

  

	 	13.8	This Agreement shall be executed in two originals, and each Party shall hold one original respectively after the signing and sealing by both Parties, each of which shall have the
same legal effect. 

  

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	 Party A: China Life Insurance Company Limited
	  	 
			
	Legal Representative:	 	 /s/ Wang Xianzhang

	  	 
	 	 	Wang Xianzhang	  	 
			
	 	 	Witness:	  	<corporate seal>
			
	Party B:	 	 /s/ Fan Yingjun

	  	 
	 	 	Fan Yingjun	  	 
			
	 	 	Witness:	  	 

  

 10Executive Employment Agreement between the Company and Darrell D. Martin

 Exhibit 10.1 
  
 EXECUTIVE EMPLOYMENT AGREEMENT 
  
 This Employment Agreement is made as of the 23rd day of May, 2005, between Markel Corporation (the “Company”), and Darrell D. Martin
(“Executive”) and supersedes and replaces the previous agreement between the parties. 
  
 The parties agree as follows: 
  
 1. Employment and Duties. The Company employs the Executive as Executive Vice President of the Company. The Executive agrees to devote up to 25% of
his time and attention to the business of the Company and its subsidiaries and affiliates and to perform duties normally and properly incident to his position and such further duties as may be assigned to him by the Board of Directors or Vice
Chairman of the Company, including oversight of the internal audit function. The duties to be performed by the Executive under this Agreement shall be primarily performed by him in the Richmond, Virginia metropolitan area, provided, however, that
the Executive shall travel to the extent reasonably necessary to perform his duties hereunder, including but not limited to, up to four trips per year to the Company’s London subsidiary. The Executive shall not be required to reside or maintain
a residence outside of the Richmond metropolitan area. 
  
 2.
Term. The Company employs the Executive and the Executive agrees to serve the Company for an initial term of one year from the date of this Agreement; thereafter this Agreement shall continue in effect until terminated by either party on 90
days written notice to the other party. 
  
 3. Salary.
During the term of this Agreement, the Company shall pay the Executive a salary at a rate of not less than two hundred twenty five thousand dollars 

 ($225,000) per year (“Base Salary”) which sum shall be payable in bi-weekly installments. The executive shall
be entitled to participate in the Company’s bonus program for executive officers. There shall be withheld from all amounts due the Executive such federal and state income taxes, FICA and other amounts as may be required to be withheld under
applicable law. 
  
 4. Other Benefits. During the term of
this Agreement, the Executive shall be entitled to (i) participate in such employee benefit plans and programs as are generally available to other officers of the Company who hold positions of similar responsibility to those of Executive; provided
however that in light of the Executive’s reduced time commitment Executive shall not be eligible to participate in the Company’s short term disability plan, (ii) reimbursement, in accordance with policies and procedures established by the
Company from time to time, for all items of expense reasonably and necessarily incurred by Executive on behalf of the Company, and (iii) such holidays as are generally available to employees of the Company. 
  
 5. Termination by Death or Disability. 
  
 (a) Should the Executive die during the term of employment, the Company
shall be obligated to pay any salary and benefits to which the Executive may be entitled until the end of the bi-weekly payroll period in which the death occurs, and the Company shall pay to the Executive’s personal representatives amounts
equal to and payable at the same time as the installments of Base Salary theretofore regularly paid to the Executive for a period equal to the greater of (i) the remainder of the initial term of this Agreement, if the initial term has not then
expired; or (ii) 90 days. 
  

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 (b) Should the executive be unable to perform substantially all duties of employment for 60 consecutive
days because of a physical or mental disability, the Company shall then have the right to terminate the Executive’s employment by giving the Executive 30 days written notice. After the date of termination, the Company shall pay to the Executive
or the Executive’s personal representatives amounts equal to and payable at the same time as the installments of Base Salary theretofore regularly paid to the Executive for a period equal to the greater of (i) the remainder of the initial term
of this Agreement, if the initial term has not then expired; or (ii) 90 days. 
  
 The onset of a condition of disability under this Agreement shall be determined by the Board of Directors on the basis of (i) a written opinion of a licensed physician certified in his field of specialization and
acceptable to the Company, or (ii) the receipt of, or entitlement by the Executive to disability benefits under any insurance policy or employee benefit plan provided or made available by the Company or under Federal Social Security laws.

  
 6. Termination for Cause. The Company may at any time
elect to terminate its obligations under this Agreement for “cause” and remove the Executive from employment. Termination for cause shall be made upon 30 days written notice, and upon expiration of the 30-day notice period, all obligations
of the Company to the Executive under this Agreement shall cease. 
  
 For purposes of this Agreement “cause” shall be only the following: 
  
 (a) continued and deliberate neglect by the Executive, after receipt of notice thereof, of employment duties other than as a result of Executive’s physical or mental disability; 
  

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 (b) willful misconduct of the Executive in connection with the performance of his duties, including by
way of example but not limitation, misappropriation of funds or property of the Company; securing or attempting to secure personally any profit in connection with any transaction entered into on behalf of the Company or violation of any code of
conduct or standards of ethics applicable to employees of the Company; 
  
 (c) conduct by the Executive which may result in material injury to the reputation of the Company if the Executive were retained in his position with the Company, including by way of example but not limitation, commission of a felony,
bankruptcy, insolvency or general assignment for the benefit of creditors; 
  
 (d) active disloyalty such as aiding a competitor; or 
  
 (e) a breach by the Executive of paragraph 8 or 9 of this Agreement. 
  
 7. Other Termination. 
  
 (a) If the Executive resigns or voluntarily leaves the employ of the Company, the Company’s obligations to the Executive under this Agreement shall
terminate and the Company shall have no further liability to the Executive under this Agreement; provided, however, if Executive voluntarily leaves the employ of the Company by virtue of the Company’s failure to comply with any terms of this
Agreement, then the Executive shall be entitled to the identical compensation and benefits set forth in Section 7 (b) hereof. 
  
 (b) The Company may at any time elect to terminate its obligations under this Agreement without cause and remove the Executive from employment on 30
days’ written notice. If the Company elects to terminate Executive’s employment without cause, then the Executive shall be entitled to receive, subject to compliance by the Executive with the provisions of Sections 8 and 9 of this
Agreement, the compensation and benefits due under this Agreement for a period equal to the greater of (i) the remainder of the initial term of this Agreement, if the initial term has not then expired; or (ii) 90 days. 
  

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 8. Confidential Information and Trade Secrets. As consideration for and to induce the employment
of the Executive by the Company, the Executive agrees that: 
  
 (a) Except to the extent such information is generally known to the public or in the industry in which the Company and its subsidiaries and corporate affiliates are engaged all information relating to or used in the business and operations
of the Company and its subsidiaries and corporate affiliates (including, without limitation, marketing methods and procedures, customer lists, lists of professionals referring customers to the Company and its subsidiaries and corporate affiliates,
sources of supplies and materials and business systems and procedures), whether prepared, compiled, developed or obtained by the Executive or by the Company or any of its subsidiaries or corporate affiliates prior to or during the term of this
Agreement, are and shall be confidential information and trade secrets (“Confidential Information”) and the exclusive property of the Company, its subsidiaries and corporate affiliates. 
  
 (b) All records of and materials relating to Confidential Information,
whether in written form or in a form produced or stored by any electrical or mechanical means or process and whether prepared, compiled or obtained by the Executive or by the Company or any of its subsidiaries or corporate affiliates prior to or
during the term of this Agreement, are and shall be the exclusive property of the Company or its subsidiaries or corporate affiliates, as the case may be. 
  
 (c) Except in the regular course of his employment or as the Company may expressly authorize or direct in writing, the Executive shall not, during or
after the term of 
  

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 this Agreement and his employment by the Company, copy, reproduce, disclose or divulge to others, use or permit others to
see any Confidential Information or any records of or materials relating to any such Confidential Information. The Executive further agrees that during the term of this Agreement and his employment by the Company he shall not remove from the custody
or control of the Company or its subsidiaries or corporate affiliates any records of or any materials relating to such Confidential Information and that upon the termination of this Agreement he shall deliver the same to the Company and its
subsidiaries and corporate affiliates. 
  
 9. Covenants.

  
 As consideration for and to induce the employment of the
Executive by the Company, the Executive agrees that, except in the regular course of his employment or as the Company may expressly authorize or direct in writing, the Executive shall not, during the term of this Agreement and for a period of two
(2) years immediately following the termination of this Agreement, directly or indirectly, either as an individual for his own account, as a partner or joint venturer with any other person or entity, as an employee, consultant, advisor, agent or
representative of any other person or entity or as an officer, director or shareholder of any corporation, (i) own, manage, operate, join, control or participate in the ownership, management, operation or control of, or serve as an employee,
consultant, advisor, agent or representative of any corporation, association, partnership, proprietorship or other business entity that is engaged in any business activity, directly or indirectly, in competition with any of the business operations
or activities of the Company or any of its subsidiaries or corporate affiliates, or (ii) employ or offer to employ or retain the services of any officer, employee or agent then employed or retained by the Company or any 
  

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 of its subsidiaries or corporate affiliates or induce, encourage or solicit any such officer, employee or agent to leave
the employment or service of the Company or any of its subsidiaries or corporate affiliates. This provision shall not, however, restrict the Executive from making any investments in any company whose stock is listed on a national securities exchange
or actively traded in the over-the-counter market, so long as such investment does not give Executive the right to control or influence the policy decisions of any business or enterprise which is or might be directly or indirectly in competition
with any of the business operations or activities of the Company or any of its subsidiaries or corporate affiliates. 
  
 10. Survival of Covenants and Remedies. The agreements made by the Executive in paragraphs 8 and 9 shall survive the termination of this Agreement
and the Executive’s employment. Each such agreement by the Executive shall be construed as an agreement independent of any other provision of this Agreement, and the existence of any claim or cause of action by the Executive against the Company
shall not constitute a defense to the enforcement of the provisions of paragraphs 8 or 9. The Executive acknowledges and agrees that the Company will sustain irreparable injury in the event of a breach or threatened breach by the Executive of the
provisions of paragraphs 8 or 9 and that the Company does not and will not have any adequate remedy at law for such breach or threatened breach. Accordingly, the Executive agrees that if he breaches or threatens to breach any such covenant or
agreement, the Company shall be entitled to immediate injunctive relief. The foregoing shall not, however, be deemed to limit the Company’s remedies at law or inequity for any such breach or threatened breach. 
  
 11. Notices. All notices, consents and other communications under this
Agreement shall be in writing and shall be deemed to have been given, delivered or made 
  

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 when delivered personally or when mailed by registered or certified mail, postage prepaid and return receipt requested,
addressed to the Company at its principal office in Richmond, Virginia, and to the Executive at his residence as shown upon the employment records of the Company, or to such other address as either party may by notice specify to the other.

  
 12. Modification. No provision of this Agreement,
including any provision of this paragraph, may be modified, deleted or amended in any manner except by an agreement in writing executed by Executive and the Company. 
  
 13. Benefit. All of the terms of this Agreement shall be binding upon, inure to the benefit of and be enforceable by
the Company and its successors and assigns and by the Executive and his heirs and personal representatives. 
  
 14. Construction. This Agreement is executed and delivered in the Commonwealth of Virginia and shall be construed and enforced in accordance with
the laws of such state. 
  
 15. Severability. The
invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision. 
  
 In addition, if, at the time of enforcement of this Agreement, a court holds that any restriction stated in this Agreement is unreasonable under the
circumstances then existing, the parties agree that the maximum restriction reasonable under such circumstances shall be substituted for the stated restriction. 
  

16. Headings. The underlined headings provided in this Agreement are for convenience only and shall not affect the interpretation of this
Agreement. 
  
 17. Counterparts. This Agreement may be
executed in one or more counterparts, each of which shall be deemed an original. 
  

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 18. Delay in Payments. In response to the American Jobs Creation Act of 2004 (“AJCA”),
any payments under this agreement that are treated as made under a deferred compensation plan for purposes of Internal Revenue Code (“Code”) Section 409A are intended to meet the requirements of Code Section 409A(a)(2)(B) and any
regulations and other guidance under that section. Therefore, if the Executive is a “specified employee” for purposes of Code Section 409A, no payment shall be made before the date provided in Code Section 409A(a)(2)(B) and all payments
otherwise payable during that period shall be made to Executive as soon as possible after the date provided in Code Section 409A(a)(2)(B). 
  

							
	 /s/ Darrell D. Martin

	 	 	 	MARKEL CORPORATION
	 Executive
	 	 	 	 
				
	 	 	 	 	By:	 	 /s/ Alan I. Kirshner

	 	 	 	 	Title:	 	Chairman

  

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