Document:

exv10w25

Exhibit 10.25

2nd AMENDMENT TO COMMERCIAL LOAN AGREEMENT

THIS 2nd AMENDMENT dated as of November 16th 2007 is made to and a part of
the Commercial Loan Agreement and Addendum thereto (the “CLA Addendum”) dated March 30, 2006
(collectively the “Loan Agreement”) by and between BROOKE CREDIT CORPORATION ("LENDER") and
SUNCOAST HOLDINGS, INC., a Delaware corporation (“SH”), BRANDYWINE INSURANCE HOLDINGS, INC., a
Delaware corporation (“BIH”), and PATRIOT RISK SERVICES, INC., a Delaware corporation (“PRS”) and
the Amendment to Commercial Loan Agreement dated as of September 27 (“1st Amendment”),
2007 by and between Lender, SH, BIH, PRS, SUNCOAST CAPITAL, INC. (“SCI”), PATRIOT RISK MANAGEMENT,
INC. (“PRM”), and PATRIOT RISK MANAGEMENT OF FLORIDA, INC. (“PRMF”) (SH, BIH PRS, SCI, PRM and PRMF
collectively referred to hereinafter as “Borrower”).

WHEREAS, SH, BIH and PRS have collectively executed the Loan Agreement and related “Loan Documents”
(as defined in the Loan Agreement) dated March 30, 2006, including, but not limited to, a
Commercial Promissory Note (the “Original Note”), Guaranty of Steven M. Mariano (the “Guaranty”),
Commercial Security Agreement (the “Security Agreement”) and Stock Pledge Agreement (the “Pledge
Agreement”), together with a Consent dated August 2, 2007;

WHEREAS, Borrower has executed the 1st Amendment and related subsequent Loan Documents
including, but not limited to, a Commercial Promissory Note (the “Second Note”);

WHEREAS, the 1st Amendment and related Loan Documents currently list a principal loan
balance of $5,768,000.00;

WHEREAS, the 1st Amendment and related Loan Documents currently list the distribution of
the proceeds from the Second Note as:

	 	 	 
	$5,000,000.00

	 	to Borrower — capital injection in Guarantee Insurance Company
	$   100,000.00

	 	to National Capital Advisors
	$   500,000.00

	 	to BCA — Purchase Borrower’s Assistance Plan
	$   168,000.00

	 	to BCC (or “Lender”) — Loan Fees (Including DBI Premium)

WHEREAS, the $100,000 fees to National Capital Advisors above were listed on the Loan Documents in
error; and

WHEREAS, Borrower and Lender wish to restate the principal loan balance listed on the Second Note
as $5,665,000.00 and to correct the corresponding distributions.

© Brooke Credit Corporation all rights reserved

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FOR GOOD AND VALUABLE CONSIDERATION the sufficiency and receipt of which are acknowledged, it is
agreed as follows:

     The Agreement and Loan Documents are amended as follows:

	 	1.	 	The principal loan amount of the Second Note is restated as
$5,665,000.00.
	 
	 	2.	 	The disbursements are restated to be:

	 	 	 	 
	 	$5,000,000.00

	 	to Borrower — capital injection in Guarantee Insurance Company
	 	$   500,000.00

	 	to BCA — Purchase Borrower’s Assistance Plan
	 	$   165,000.00

	 	to BCC (or “Lender”) — Loan Fees (Including DBI Premium)

	 	3.	 	Borrower hereby ratifies and adopts the 2nd Amendment and
agrees that the 2nd Amendment and Loan Documents are enforceable against
Borrower in accordance with the above terms.
	 
	 	4.	 	Borrower further agrees that this 2nd Amendment may be
affixed to each and every Loan Document as evidence of the 2nd Amendment
thereof in accordance with the above terms.

Unless specifically amended hereby, all provisions, terms and conditions shall remain as set forth
in the Agreement and Loan Documents.

THIS AMENDMENT is executed on this 16th day of November, 2007.

IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first above
written.

	 	 	 	 	 	 	 	 	 	 	 
	BORROWER:	 	 	 	LENDER:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	SUNCOAST HOLDINGS, INC.	 	 	 	BROOKE CREDIT CORPORATION	 	 
	a Delaware corporation	 	 	 	a Delaware corporation	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	
	 	 
	 	By:
	 	
	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	 

	 	Name: Steven M. Mariano
	 	 	 	 	 	Name: Michael S. Lowry
	 	 
	 

	 	Title: President and Chief Executive Officer
	 	 	 	 	 	Title: President & CEO
	 	 

	 	 	 	 	 
	BRANDYWINE INSURANCE HOLDINGS, INC., a Delaware corporation

 	 	 
	By:  	
 	 	 
	 	Name:  	Steven M. Mariano 	 	 
	 	Title:  	President and Chief Executive Officer 	 	 
	 

© Brooke Credit Corporation all rights reserved

2

 

	 	 	 	 	 
	SUNCOAST CAPITAL, INC., a Delaware corporation

 	 	 
	By:  	
 	 	 
	 	Name:  	Steven M. Mariano 	 	 
	 	Title:  	President and Chief Executive Officer 	 	 
	 

	 	 	 	 	 
	PATRIOT RISK MANAGEMENT, INC., a Delaware corporation

 	 	 
	By:  	
 	 	 
	 	Name:  	Timothy J. Ermatinger 	 	 
	 	Title:  	Chief Executive Officer 	 	 
	 

	 	 	 	 	 
	PATRIOT RISK SERVICES, INC., a Delaware corporation

 	 	 
	By:  	
 	 	 
	 	Name:  	Timothy J. Ermatinger 	 	 
	 	Title:  	Chief Executive Officer 	 	 
	 

	 	 	 	 	 
	PATRIOT RISK MANAGEMENT OF FLORIDA, INC., a Delaware corporation

 	 	 
	By:  	
 	 	 
	 	Name:  	Timothy J. Ermatinger 	 	 
	 	Title:  	Chief Executive Officer 	 	 
	 
	 

© Brooke Credit Corporation all rights reserved

3exv10w26

Exhibit 10.26

3rd AMENDMENT TO COMMERCIAL LOAN AGREEMENT

          THIS 3rd AMENDMENT dated as of February 19, 2008 is made to and a part of the
Commercial Loan Agreement and Addendum thereto (me “CLA Addendum”) dated March 30, 2006
(collectively the “Loan Agreement”) by and between BROOKE CREDIT CORPORATION (“LENDER”) and
SUNCOAST HOLDINGS, INC., a Delaware corporation (“SH”), BRANDYWINE INSURANCE HOLDINGS, INC., a
Delaware corporation (“BIH”), and PATRIOT RISK SERVICES, INC., a Delaware corporation (“PRS”), the
Amendment to Commercial Loan Agreement dated as of September 27, 2007 (“1st Amendment”)
by and between Lender, SH, BIH, PRS, SUNCOAST CAPITAL, INC. (“SCI”), PATRIOT RISK MANAGEMENT, INC.
(“PRM”), and PATRIOT RISK MANAGEMENT OF FLORIDA, INC. (“PRMF”) (SH, BIH, PRS, SCI, PRM and PRMF
collectively referred to hereinafter as “Borrower”), and the 2nd Amendment to Commercial
Loan Agreement dated as of November 16, 2007 (2nd Amendment) by and between Lender and
Borrower.

          WHEREAS, SH, BIH and PRS have collectively executed the Loan Agreement and related “Loan
Documents” (as defined in the Loan Agreement) dated March 30, 2006, including, but not limited to,
a Commercial Promissory Note (the “Original Note”), Guaranty of Steven M. Mariano (the “Guaranty”),
Commercial Security Agreement (the “First Security Agreement”), Stock Pledge Agreement (the “Pledge
Agreement”), and Irrevocable Proxy together with a Consent dated August 2, 2007;

          WHEREAS, Borrower has executed the lst Amendment, the 2nd Amendment and
related subsequent Loan Documents including, but not limited to, a Commercial Security Agreement
(the “Second Security Agreement” together with all other loan related documents the “Loan
Documents”);

          WHEREAS, Borrower and Lender have agreed to amend the Loan Documents to add language specific
to Florida insurance law; and

          WHEREAS, Borrower is contemplating raising new capital by means of a public offering of common
stock (the “Proposed Offering”) and in connection with the Proposed Offering desires to
change SH’s name to Patriot Risk Management, Inc., change BIH’s name to Guarantee Insurance Group,
Inc. and change the name of Patriot Risk Management, Inc. “PRM”) to PRS Holdings, Inc (the
“Name Changes”).

FOR GOOD AND VALUABLE CONSIDERATION the sufficiency and receipt of which are acknowledged, it is
agreed as follows:

The Agreement and Loan Documents are amended as follows:

	 	1.	 	The Loan Agreement is hereby amended by amending and restating the following
paragraph in its
entirety within the Agreement as follows:

©
Brooke Credit Corporation the (Illegible) Capital Corp. all rights reserved

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7. COLLATERAL. As used in this Agreement, the terms “Collateral” means all of
Borrower’s respective right, title and interest in, to and under all property and assets
granted as collateral security for the Loan, whether real, intangible or tangible personal
property, whether granted directly or indirectly, whether granted now or in the future, and
whether granted in the form of a security interest, mortgage, collateral mortgage, deed of
trust, assignment, pledge, crop pledge, chattel mortgage, collateral chattel mortgage, chattel
trust, factor’s lien, equipment trust, conditional sale, trust receipt, lien, charge, lien or
title retention contract, lease or consignment intended as a security device, or any other
security or lien interest whatsoever, whether created by law, contract, or otherwise.
Collateral shall also include, but not be limited to all of Borrower’s respective right, title
and interest in, to and under the following, whether now owned or at any time hereafter
acquired:

(a) All of Borrower’s personal property (except the property of Guarantee Insurance Company
(“GIC”)), whether tangible or intangible, and all of Borrower’s interest in property and
fixtures (except the property of GIC), now owned or existing or hereafter acquired and
wherever located, including without limitation, the following: (i) all furniture, inventory,
machinery, vehicles, equipment, goods and supplies; (ii) all accounts (except the accounts of
GIC), including without limitation, the Borrower’s Depository Account and the Escrow Account;
(iii) all instruments, documents (including, without limitation, the customer files), policies
and certificates of insurance, securities, negotiable instruments, money, chattel paper,
investment property, deposits, warehouse receipts and things in action; (iv) all general
intangibles and rights to payment or proceeds of any kind, including without limitation,
rights to insurance premiums, dividends, distributions, proceeds and letter of credit
proceeds; (v) all documents and contract rights and interests of any kind, including without
limitation, the rights and interests set forth in any agency/producer agreement and insurance
policy, and the rights and interests set forth in all Material Agency Agreements and in all
Managing Agreements with any Insurance Entity; (vi) all intellectual property rights and
similar assets, including without limitation trademark rights, service mark rights, rights to
licenses and rights to names, customer lists, trade secrets, goodwill, trade names, permits
and franchises, payment intangibles, computer programs, etc.; (vii) the book of business;

(b) All of SH’s right, title and interest in BH and PRM whether evidenced by stock
certificates or otherwise, together with all dividends and other income, payments and
distributions of any kind payable to SH in its capacity as the sole stockholder of BIH and
PRM;

(c) All of BIH’s right, title and interest in GIC whether evidenced by stock certificates or
otherwise, together with all dividends and other income, payments and distributions of any
kind payable to BIH in its capacity as the sole stockholder of GIC. Lender acknowledges that
regulatory approval from

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the Florida Office of Insurance Regulations (“OIR”) would be required in the unlikely
event of collateral repossession, voting of shares or units, assertion of ownership of
collateral, and/or transfer of ownership of collateral. Although Lender is requiring a
pledge of all of the stock of GIC, in the event of collateral liquidation Lender is only
entitled to liquidation proceeds necessary to repay Borrower’s principal and interest
outstanding to Lender and Lender costs associated with collateral liquidation;

(d) All telephone numbers, rights to the lease of office space, post office boxes or
other mailing addresses, rights to trademarks and use of trade names, rights to software
licenses, and rents received by Borrower for the lease of office space;

(e) All deposit accounts, escrow accounts, disbursement accounts, accounts receivable,
commission receivables, economic interest of Borrower, all chattel paper, contract
rights, instruments, documents, general intangibles, inventory and goods in process of
Borrower, whether now in existence or owned or hereafter coming into existence or
acquired, wherever located, and all returned goods, and repossessions and replacements
thereof;

(f) All commissions, policy fees, service fees, underwriting fees, claims fees,
administrative and processing fees, fronting fees, risk management and loss/cost control
fees, investment income, management fees (including without limitation, case and captive
management fees), premium finance revenues, reinsurance brokerage commissions and all
other revenue (collectively, “Revenue”) payable to Borrower and any assignment
thereof;

(g) All “MGA Operations” being defined hereunder as Borrower’s policy
administration agreements, related service fees, and any agency, producer, broker, and
managing general agency agreements or similar such contracts (collectively,
“Managing Agreements”) with any insurance company, reinsurance company, managing
general agency, broker or other insurance supplier (collectively, “Insurance
Entities”), the policies Borrower has written or placed pursuant to such agreements,
the right to commissions and policy fees (new, renewal, additional or other) for any of
the foregoing, and Borrower’s customer list and policy
information for said customers,
and with respect to all of the foregoing, whether now owned by Borrower or at any time
hereafter acquired;

(h) Any property, tangible or intangible, in which Borrower grants Lender a security
interest in any other Loan Document;

(i) All “Premium Finance Operations” being defined hereunder as Borrower’s or
their affiliates’ existing or future premium finance business, all tangible and
intangible property associated therewith, and all Revenue (less amounts due Insurance
Entities) derived directly or indirectly therefrom; and

3

 

(j) All additions, attachments, parts, repairs, accessories, accessions,
replacements and substitutions to or for any of the forgoing and any proceeds and
products of the above-described property.

Borrower hereby grants Lender a lien on and first priority security interest in the
Collateral to secure the payment and performance of the Loan and all of Borrower’s other
obligations, liabilities and indebtedness to Lender, whether now incurred or at any time
hereafter arising.

	 	2.	 	The Stock Pledge Agreement is hereby amended to add the following new paragraph to
the Stock Pledge Agreement in the appropriate numeric order:

16. Florida Regulatory Approval. Notwithstanding anything herein to the
contrary, Pledgee acknowledges and agrees that Pledgee shall not be entitled to
vote the Pledged Shares, assert ownership, or transfer ownership of the Pledged
Shares, until it has complied with any applicable Florida laws, including without
limitation filing a Form A and having it approved by the Florida Office of
Insurance Regulation to the extent applicable.

	 	3.	 	The Irrevocable Proxy is hereby amended to add the following new paragraph:

This Irrevocable Proxy is governed by the laws of the State of Florida, without
giving effect to any conflict of laws principles therein. Notwithstanding anything
herein to the contrary, the undersigned acknowledges and agrees that Appointee
shall not be entitled to vote the Shares, assert ownership thereof, or transfer
ownership of the Shares, until it has complied with any applicable Florida laws,
including without limitation filing a Form A and having it approved by the Florida
Office of Insurance Regulation to the extent applicable.

	 	4.	 	The Borrower and the Lender hereby agree that, SH may change it’s name to Patriot
Risk Management, Inc., BIH may change it’s name to Guarantee Insurance Group, Inc. and
PRM may change it’s name to PRS Group, Inc and Borrower will execute all documents
necessary to ensure Lender’s security interest continues to be perfected and maintains is
priority position, including signing new UCC’s and exchanging stock certificates if
necessary.
	 
	 	5.	 	Borrower hereby ratifies and adopts this 3rd Amendment and agrees that
the 3rd Amendment and Loan Documents are enforceable against Borrower in
accordance with the above terms.
	 
	 	6.	 	Borrower further agrees that this 3rd Amendment may be affixed to each
and every Loan Document as evidence of the 3rd Amendment thereof in accordance
with the above terms.

4

 

	 	7.	 	Unless specifically amended hereby, all provisions, terms and conditions in the Stock
Pledge Agreement shall otherwise remain unaltered and in full force and effect, and the
respective terms, conditions and covenants thereof are hereby ratified and confirmed in
all respects as originally executed. Upon effectiveness of this Agreement, all
references to the Stock Pledge Agreement shall be a reference to the Stock Pledge
Agreement as amended hereby.
	 
	 	8.	 	This Agreement shall be construed and governed by the laws of the State of Kansas,
except to the extent that the laws of a jurisdiction other than the State of Kansas are
required to govern any enforcement or foreclosure action with respect to any of the
Pledged Shares.
	 
	 	9.	 	This Agreement may be executed in any number of counterparts, each of which when so
executed and delivered shall be deemed to be an original and all of which taken together
shall constitute one and the same agreement.

Unless specifically amended hereby, all provisions, terms and conditions shall remain as set forth
in the Agreement and Loan Documents.

THIS AMENDMENT is executed on this 19th day of February, 2008.

IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first above
written.

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	BORROWER:	 	 	 	LENDER:	 	 
	SUNCOAST HOLDINGS,
INC.	 	 	 	BROOKE CREDIT CORPORATION	 	 
	a Delaware corporation	 	 	 	a Delaware corporation	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	By:	 		 	 	 	By:	 		 	  
	 	 	 	 	 	 	 	 	 	 	 
	 

	 	Name:
	 	Steven M. Mariano
	 	 	 	 	 	Name:
	 	Michael S. Lowry	 	 
	 

	 	Title:
	 	President and Chief Executive Officer
	 	 	 	 	 	Title:
	 	President & CEO	 	 

	 	 	 	 	 
	BRANDYWINE INSURANCE HOLDINGS, INC., a Delaware corporation

 	 	 
	By:  	
 	 	 
	 	Name:  	Steven M. Mariano 	 	 
	 	Title:  	President and Chief Executive Officer 	 	 
	 

	 	 	 	 	 
	SUNCOAST CAPITAL, INC., a Delaware corporation

 	 	 
	By:  	
 	 	 
	 	Name:  	Steven M. Mariano 	 	 
	 	Title:  	President and Chief Executive Officer 	 	 

5

 

	 	 	 	 	 
	PATRIOT RISK MANAGEMENT, INC., a Delaware corporation

 	 	 
	By:  	
 	 	 
	 	Name:  	Timothy J. Ermatinger 	 	 
	 	Title:  	Chief Executive Officer 	 	 
	 

	 	 	 	 	 
	PATRIOT RISK SERVICES, INC., a Delaware corporation

 	 	 
	By:  	
 	 	 
	 	Name:  	Timothy J. Ermatinger 	 	 
	 	Title:  	Chief Executive Officer 	 	 
	 

	 	 	 	 	 
	PATRIOT RISK MANAGEMENT OF FLORIDA, INC., a Delaware corporation

 	 	 
	By:  	
 	 	 
	 	Name:  	Timothy J. Ermatinger 	 	 
	 	Title:  	Chief Executive Officer 	 	 
	 

CONSENT OF GUARANTOR(S)

The undersigned, as guarantor of all debt and obligations of Borrower to Lender under the Guaranty,
hereby acknowledges and consents to the above - referenced Amendment.

	 	 	 	 	 
	 	 	 
	 	
 	 
	 	Steven M. Mariano, individually 	 
	 	 	 
	 

6

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