Document:

Software License Agreement

 Exhibit 10.27 
 GUIDEWIRE SOFTWARE, INC. 
 SOFTWARE LICENSE AGREEMENT 
 THIS SOFTWARE LICENSE AGREEMENT (the “Agreement”), is made effective on May 3, 2007
(“Effective Date”) by and between Guidewire Software, Inc. (“Guidewire”), a Delaware corporation with its principal place of business located at 2121 El Camino Real, 3rd Floor, San Mateo, CA 94403 and MGA Insurance Company, Inc. (“Licensee”), a Texas corporation with its principal place of business located at 3333 Lee
Parkway, Suite 1200, Dallas, Texas 75219. 
 Accordingly, the parties agree as follows: 
 AGREEMENT 
  

	1.	Software, License and Ownership. 

 a.
Software. “Software” shall mean the software in object code form specified in Exhibit A to this Agreement or any subsequent order form executed by both parties pursuant to this Agreement that substantially contains the
information set forth in Exhibit A (each an “Order Form”). 
 b. License Grant. Subject to the terms of this Agreement,
Guidewire hereby grants Licensee a, nonexclusive, nonsublicensable, nontransferable, license to use the Software, solely for Licensee’s internal use in the United States during the term set forth in the applicable Order From and subject to any
additional terms set forth therein (which shall take precedence and control over any conflicting terms of this Section). 
 c.
Restrictions. Licensee shall not (and shall not allow any end user or third party to) (i) decompile, disassemble, or otherwise reverse engineer the Software or attempt to discover any source code or underlying ideas or algorithms of the
Software, (ii) remove any product identification, copyright or other notices embedded within the Software, (iii) modify or create a derivative work of the Software (except as otherwise expressly authorized by Guidewire in writing),
(iv) remove or export any Software from the United States in violation of applicable laws or regulations, (v) relicense, provide, lease or lend the Software to any third party, or use the Software for timesharing or service bureau
purposes, (vi) copy the Software or any portion thereof except as provided herein, or (vii) disclose any performance information or analysis (including, without limitation, benchmarks) from any source relating to the Software. 

d. Ownership. As between the parties, Guidewire shall retain all rights, title and interest in and to the Software including all modifications,
derivative works or improvements, and all related intellectual property rights. Customer shall retain all rights, title and interest in and to Customer’s claim, policy and other data. 
 e. Embedded Software. Licensee acknowledges that third party software may be embedded or otherwise delivered with the Software. Licensee may only
use such third party software as integrated with and part of the Software. The licensors of the third party software are intended beneficiaries of this Agreement, as it pertains to Licensee’s rights to use such software. 
 f. Intellectual Property Rights. Guidewire represents and warrants to Licensee that it has the unencumbered right to grant the license granted herein and
that there is no claim relating to the Software based on actual or alleged violation of the intellectual property rights of any other person pending or threatened against Guidewire. 
  

	2.	Fees and Payment. 

 a. Fees. Licensee shall
pay Guidewire all license fees (“License Fees”), support and maintenance fees (“Support Fees”) and other fees as set forth in the applicable Order Form. Unless, otherwise set forth in the applicable Order Form, Licensee shall pay
all invoices in full within thirty (30) days of the date of receipt of the invoice. 
 b. Late Fees. Licensee will pay a late fee
of one percent (1%) per month or the highest rate allowed under the law, whichever is lower, on any overdue amounts. 

 c. Review. During the term of this Agreement and for one (1) year thereafter, Licensee grants
Guidewire the right, at Guidewire expense and no more than once per year, after providing to Licensee not less than ten (10) days prior written notice, to examine Licensee’s records and other information relating to the Licensee’s use
of the Software, provided that such examination is conducted in a manner that is not disruptive to Licensee’s business. If this examination reveals that Licensee has not paid any fees due, then License agrees to promptly pay such fees. If the
underpaid fees exceed five percent (5%) of the fees actually paid for the applicable period, then Licensee shall also pay Guidewire’s reasonable costs of conducting the examination. Additionally, at Guidewire’s written request, not
more frequently than annually, Licensee shall furnish Guidewire with a signed certificate verifying that Licensee is using the Software within the terms of this Agreement. 
 3. Maintenance and Support. In consideration for Licensee’s payment of the Support Fees specified in the applicable Order Form, if any, Guidewire will provide support and maintenance services for the
Software as specified in Exhibit B attached hereto (“Support Services”). Professional services relating to implementation of the Software are not provided as part of Support Services and will be governed (if at all) by a separate
Consulting Services Agreement between the parties. 
 4. Confidentiality. 
 a. Confidential Information. The parties agree that (i) the Software, Documentation, pricing, discounts and other terms offered to Licensee,
including, without limitation, the material terms of this Agreement, any functional limitations of, or errors in, the Software, are the confidential property of Guidewire, and (ii) any other confidential business, technical, financial or other
information disclosed by one party to the other pursuant to this Agreement is the confidential information of the disclosing party (collectively, “Confidential Information”). Except as expressly allowed in Section 4(b) or elsewhere
herein, each party shall hold in confidence and shall not use or disclose to any third party any Confidential Information of the other party. The restrictions of this Section shall apply for the greater of (i) the term of this Agreement and for
two years thereafter, (ii) the time period dictated by any applicable law, statute or regulation, or (iii) for any Confidential Information that constitutes a trade secret, as long as such Confidential Information remains a trade secret
under applicable law. 
 b. Permitted Disclosure. A party shall not be obligated under Section 4(a) with respect to information
that it can document: (i) is or has become readily publicly available without restriction through no fault of such party or its personnel, (ii) is received, without restriction, from a third party lawfully in possession of such information
and lawfully empowered to disclose such information, (iii) was rightfully in such party’s possession without restriction prior to its disclosure by the other party, (iv) independently developed without use of the Confidential
Information, or (v) or as otherwise required by law or regulation. 
 5. Warranty; Disclaimer. Guidewire warrants that for a period of nine
months from Licensee’s first acquisition of Software that such Software will materially conform to Guidewire’s user documentation delivered to Customer under this Agreement (“Documentation”). This warranty only covers
reproducible errors reported to Guidewire in writing during the warranty period. Licensee’s exclusive remedy for breach of this warranty shall be prompt correction or replacement of the Software affected or, if Guidewire is unable to do so,
then to cancel the license for the defective Software and receive a refund of the License Fees paid for the defective Software. GUIDEWIRE DOES NOT WARRANT THAT THE SOFTWARE IS ERROR FREE. EXCEPT AS SET FORTH ABOVE, GUIDEWIRE DISCLAIMS ALL WARRANTIES
RELATING TO THE SOFTWARE, SUPPORT SERVICES OR OTHERWISE REGARDING THIS AGREEMENT, WHETHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. 
 6. Limitation of Liabilities. EXCEPT FOR A BREACH OF SECTIONS 1 OR 4, IN NO EVENT SHALL EITHER PARTY BE LIABLE WITH RESPECT TO ANY SUBJECT MATTER OF THIS
AGREEMENT, UNDER ANY LEGAL OR EQUITABLE THEORY, FOR ANY CONSEQUENTIAL, EXEMPLARY, PUNITIVE, INCIDENTAL, INDIRECT, OR SPECIAL DAMAGES, OR FOR ANY LOSS OF PROFITS OR LOSS OF GOODWILL OR LOST DATA, WHETHER OR NOT THE PARTY HAS BEEN ADVISED OF THE
POSSIBILITY OF SUCH DAMAGES OR COSTS. NOTWITHSTANDING ANYTHING TO THE CONTRARY AND WITH THE EXCEPTION OF GUIDEWIRE’S EXPRESS INDEMNITY OBLIGATIONS UNDER THIS AGREEMENT, GUIDEWIRE’S AGGREGATE LIABILITY TO LICENSEE UNDER THIS AGREEMENT AND
RELATING TO (A) DEFECTIVE SUPPORT SERVICES, SHALL NOT EXCEED THE FEES PAID BY LICENSEE DURING THE THEN-CURRENT ANNUAL SUPPORT SERVICES TERM; OR (B) THE SOFTWARE OR OTHERWISE RELATING TO THIS AGREEMENT, SHALL NOT EXCEED THE AMOUNT OF
LICENSE FEES PAID TO GUIDEWIRE WITH RESPECT TO THE SOFTWARE GIVING RISE TO THE CLAIM. 
  

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	7.	Term and Termination. 

 a. Term. This
Agreement shall commence on the Effective Date and shall remain in full force and effect until terminated as set forth below. Each Order Form will have its own term as specified therein. 
 b. Termination. This Agreement may be terminated as follows: (i) by Guidewire, immediately, for any violation by Licensee of the scope of the
license rights granted herein; (ii) by either party upon thirty (30) days written notice if the other party shall be in breach or default of any material provision of this Agreement, unless such breach is cured before the end of such
thirty (30) day period, or (iii) automatically if at the end of the Initial Term or a Renewal Term (as defined in Exhibit A) this Agreement is not renewed as set forth in the applicable Order Form. 
 c. Effect of Termination. Upon any termination hereof, (i) all rights and licenses granted to Licensee shall immediately terminate and
Licensee shall immediately cease use of and return or destroy all copies of the Software, and (ii) any rights to payment, any right of action for breach of the Agreement prior to termination, and the following provisions shall survive: Sections
1(c), 1(d), 2, 4, 5, 6, 7(c), 8 and 9. 
  

	8.	Indemnification. 

 a. Guidewire shall defend or
settle at its expense any claim or suit (an “Action”) against Licensee, arising out of or in connection with an assertion that the Software or the use thereof as specifically authorized by Guidewire, infringes any U.S. patent in
existence as of the Effective Date, U.S. copyright or trademark rights or misappropriates a trade secret of any third party; provided that Guidewire shall have no obligation under this Section to the extent any claim of infringement or
misappropriation results solely from (i) use of the Software in combination with any other hardware or software supplied by any third person or entity other than Guidewire Dependant Products covered in Exhibit B, Section 7.; (ii) any
alteration or modification of the Software not provided or authorized by Guidewire; or (iii) use of the Software in a way not intended by Guidewire or not provided for or described in the applicable Documentation, if such infringement would not
have occurred but for such combination, alteration, modification or unintended or unauthorized use of the Software (collectively the “Indemnification Exceptions”). 
 b. Licensee shall defend or settle at its expense any Action against Guidewire, and each of its directors, officers, agents, employees and sublicensees
to the fullest extent permitted by law, arising out of or in connection with or related to any of the foregoing Indemnification Exceptions. 
 c. As an express condition to the foregoing indemnity obligations, the party seeking indemnity shall (i) promptly notify the indemnifying party in writing of any such actual or threatened loss, suit, claim, liability, expense or
proceeding, (ii) allow the indemnifying party, at its own expense, to direct the defense of such suit, claim or proceeding, (iii) give the indemnifying party all information and assistance reasonably necessary to defend such suit, claim or
proceeding, and (iv) not enter into any settlement of any such suit, claim or proceeding without the indemnifying party’s written consent, which shall not be unreasonably withheld or delayed. 
 d. Should Software become, or in Guidewire’s opinion be likely to become, the subject of a claim for which Guidewire is required to indemnify
pursuant to this Section, Guidewire may, at its discretion, (i) obtain for Licensee, at no additional cost to Licensee, the right to continue using the Software under this Agreement; (ii) modify or replace the Software or part of the
Software in a manner so that such modified or replacement software provides the same or better functionality as the Software, at no additional cost to Licensee, to avoid such claim, or (iii) if Guidewire determines that neither (i) or
(ii) is commercially feasible, terminate the license to the applicable Software and refund the License Fees paid for the Software, prorated over a five (5) year term from the Effective Date. THIS SECTION 8 STATES GUIDEWIRE’S
ENTIRE LIABILITY AND LICENSEE’S EXCLUSIVE REMEDY FOR ANY CLAIMED, POTENTIAL OR ACTUAL INFRINGEMENT. 
  

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	9.	General Provisions. 

 a. Governing Law. This
Agreement shall be governed by and construed under the laws of the State of California, without regard to its conflicts of law provisions. In any action to enforce this Agreement, the prevailing party will be entitled to costs and attorneys’
fees from the non-prevailing party. Unless waived by Guidewire in a particular instance, the parties hereby submit to the exclusive personal jurisdiction of, and agree that any legal proceeding with respect to or arising under this Agreement shall
be brought in, the United States District Court for the Northern District of California or the state courts of the State of California. 
 b.
Assignment. Neither this Agreement nor any rights, licenses or obligations hereunder, may be assigned by Licensee, by operation of law or otherwise, without the prior written consent of Guidewire, provided that Licensee’s parent
corporation and any corporate affiliates controlled by such parent shall have the right to use the Software in the United States, subject to all of the provisions of this Agreement; and provided further, that such approval shall not be unreasonably
withheld. It shall be deemed unreasonable for Guidewire to withhold consent where a requested assignment does not increase the use of the Software (e.g., a transaction which does not result in combining Licensee’s insurance operations with
additional insurance operations). Licensee shall be responsible for any breach of this agreement by such parties. Guidewire may assign this Agreement in whole or in part. Any attempted assignment in violation of this Agreement shall be void and
without effect. Subject to the foregoing, this Agreement will benefit and bind the parties’ successors and assigns. 
 c. Escrow.
Upon Licensee’s written request, Guidewire shall place the source code for the Software into escrow with EscrowTech International, Inc. for the benefit of Licensee, subject to Licensee’s execution of (and the terms and conditions of)
Guidewire’s standard form of Software Escrow Agreement with EscrowTech and subject to Licensee’s payment of all applicable escrow fees. 
 d. Intentionally left blank. 
 e. Relationship of the Parties. The parties hereto expressly understand and agree that
each party is an independent contractor in the performance of each and every part of this Agreement, is solely responsible for all of its employees and agents and its labor costs and expenses arising in connection therewith. Neither party nor its
agents or employees are the representatives of the other party for any purpose and neither party has the power or authority as agent, employee or any other capacity to represent, act for, bind or otherwise create or assume any obligation on behalf
of the other party for any purpose whatsoever. 
 f. Entire Agreement. This Agreement, including the exhibits hereto, contains the
entire understanding of the parties with respect to the matters contained herein and supersedes all prior agreements or discussions between the parties with respect to the matters contained herein. 
 g. Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect any other provision of this Agreement, and
the remaining provisions shall continue with the same effect as if such unenforceable or invalid provision had not been included in this Agreement. 
 h. Modification and Waiver. Except as otherwise expressly provided herein, any provision of this Agreement may be amended and the observance of any provision of this Agreement may be waived (either generally or any particular
instance and either retroactively or prospectively) only with the written consent of the party against whom such modification or waiver will be enforced. No terms contained in a Licensee purchase order or similar document will be binding on
Guidewire unless both parties execute the same as an addendum to this Agreement. 
 i. Force Majeure. Neither party shall be liable to
the other for any delay or failure to perform any obligation under this Agreement if the delay or failure is due to unforeseen events, which occur after the signing of this Agreement and which are beyond the reasonable control of the parties
including but not limited to strikes, blockade, war, revolutions or riots, natural disasters, refusal of license by the government or other governmental agencies or other stipulations or restrictions by the authorities, insofar as such an event
prevents or delays the affected party from fulfilling its obligations and such party is not able to prevent or remove the force majeure at reasonable costs. 
 j. Counterparts. This Agreement may be executed in two counterparts, each of which shall be an original, and which together shall constitute one and the same instrument. 
  

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 k. Notices. Any notice required or permitted to be given by either party under this Agreement shall be in writing
and shall be personally delivered or sent by nationally recognized overnight commercial courier service (e.g., FedEx) to the other party at its address set forth herein, or such new address as may from time to time be supplied hereunder by the
parties. 
 10. Marketing 
 a. Use of Logos.
Licensee grants Guidewire a limited, non-exclusive right to place Licensee’s trademarks and logos on Guidewire’s web site and marketing materials solely for the purpose of identifying Licensee as a customer of the Software. 
 b. Press releases. Licensee grants Guidewire the right to issue at least two press releases regarding the parties’ relationship: the first when Licensee is
signed as a customer, and the second when Licensee is operational on the Software. Licensee and Guidewire must mutually agree upon the language in the press release. Both press releases shall have quotes from the CIO/VP of IT and SVP/VP of Claims of
Licensee. 
 IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date. 
  

									
					
	Licensee:	 	MGA Insurance Company, Inc.	 		 		 	Guidewire Software, Inc.
					
	Signature:	 	/s/ Glenn W. Anderson	 	Signature:	 		 	/s/ James M. Delvey
					
	Print Name:	 	Glenn W. Anderson	 	Print Name:	 		 	James M. Delvey
					
	Title:	 	President and Chief Executive Officer	 	Title:	 		 	CFO
					
	Date:	 	May 3, 2007	 	Date:	 		 	May 3, 2007

  

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 EXHIBIT A 
 SOFTWARE; LICENSE FEES; SUPPORT FEES AND ADDITIONAL TERMS 
 (Initial Order Form) 
 Software: Guidewire ClaimCenter is a web-based end-to-end claims management system. The modules are set forth in the Documentation and, at a high level include
the following: 
  

	 	•	 	 Claim Entry and Setup – provides a comprehensive set of capabilities for reporting and triaging losses. A wizard-based direct loss reporting module
allows claim handlers, call center operators, and potentially agents to enter loss information directly into ClaimCenter. Loss triage and setup module allows claim handlers to import loss notifications received via multiple channels (external call
center systems, call center outsourcers, faxed ACORD forms, etc.) and set them up properly in ClaimCenter. 

  

	 	•	 	 Segmentation and Assignment – provides for the segmentation and assignment of new claims and exposures. Using the newly entered loss information and the
user profiles of available adjusters as inputs, ClaimCenter determines (or prompts the user to decide upon) the appropriate claim handling strategy and adjuster. 

  

	 	•	 	 Claim Guidance – provides end-to-end management of all of the activities involved in the claim process. Generates a list of appropriate tasks and
assigns to various parties, primarily the adjuster owning the claim or the line. Tracks all activities to ensure that they are completed successfully. Monitors the workplan and other files in the claim record to determine when additional tasks are
necessary, and automatically creates these tasks and assigns them to the appropriate internal or external user based on task attributes and user profiles. 

  

	 	•	 	 Exception Based Notification and Management – provides automated escalation of overdue activities. Flagging of claims based on any criteria. Automated
exception handling. 

  

	 	•	 	 Claim Desktop – provides a unified view of all of each user’s work across claims. Includes activity queues, unified activity calendar, configurable
search, and ad hoc reporting with data export. 

  

	 	•	 	 Claim Dashboard – provides real-time views of team workload. Allows drill down through organization to individual level. Claim and exposure aging. Key
metrics for open and closed claims. Financial performance for open and closed claims. 

  

	 	•	 	 Claim File – provides the main repository that contains or provides pointers to all information about a claim, including basic fields for the claim and
each exposure (suffix) within the claim, claim notes, pointers to documents (including faxes, correspondence, etc.) stored in a separate imaging system or in another application, people involved (claimant, policyholder, witness, etc.), with links to
address book entries, vendors (with links to address book entries), imported policy information, tools to help evaluate a claim and manage negotiations, litigation management, association of claims to other related claims, and other features
described elsewhere (e.g. ClaimFinancials). 

  

	 	•	 	 ClaimFinancials – allows the execution of all standard claim transactions. Reserves are set, adjusted, and managed. Payments are created, managed, and
pass to downstream systems. Recoveries from salvage, subrogation, or unclaimed property are accepted, tracked, and optionally reserved. 

  

	 	•	 	 ContactCenter – provides a centralized address book for shared contact and vendor information. Includes the ability to link contacts on claims to the
central address book and to synchronize contacts between the central address book and the claim file. 

  

	 	•	 	 Rules Engine – externalization of most business logic in ClaimCenter, including segmentation, validation, exception, assignment, approval, and other
functions. Accessed through an installed rule composer, Guidewire Studio, with functionality for composing, versioning, testing/debugging, and searching rules. 

  

	 	•	 	 Other features – various other features, as specified by the documentation, are part of the product. Some examples include a spell checking interface, a
productized ISO integration, configurable search and filters, and various administration functions (e.g. add new users and groups). 

  

	 	•	 	 Guidewire Platform – rich set of tools and capabilities that allow for configuration, integration, bulk import of converted data, server clustering, and
much more. 

  

	 	•	 	 Any proprietary tools and software used in conjunction with the Licensed Software, including, but not limited to, Guidewire Studio. 

  

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	1.	License and Support Fees; Exhibit Term: 

 Licensee shall pay the
following License Fees for an initial term of five years from the Effective Date of this Agreement (the “Initial Term”): 
  

						
	 Initial Term License Fee Schedule

			
	 Annual Term
	  	Support Services	  	Annual License Fees
	 Year 1
	  	Included	  	$	318,815
	 Year 2
	  	Included	  	$	318,815
	 Year 3
	  	Included	  	$	318,815
	 Year 4
	  	Included	  	$	318,815
	 Year 5
	  	Included	  	$	318,815

 This Exhibit shall commence on the Effective Date of the Agreement and shall remain in full force and effect for
Initial Term set forth above. This Exhibit shall automatically renew at the end of the Initial Term (and thereafter) for additional periods of twelve (12) months (each a “Renewal Term”) at Guidewire’s then-current fees (provided
that Guidewire provides notice of any increase in fees to be applicable during the next Renewal Term at least ninety (90) days prior to the end of the then-current term), unless terminated by either party by written notice no less than thirty
(30) days prior to the end of the then-current term. Solely for the purposes of this Exhibit, the Initial Term and any Renewal Term(s) are referred to as the “Exhibit Term”. 
 The annual License Fee for Year 1 is due on the Effective Date of the Agreement. The annual License Fees for the balance of the Exhibit Term are payable on each
applicable anniversary of the Effective Date. 
 Support Fees are included in the annual License Fees during the Exhibit Term. The annual License Fees are
subject to adjustments pursuant to the “Growth Rates” Sections of this Exhibit. 
 The License Fees in this Exhibit are based on Licensee’s
direct written premiums (“DWP”) in a calendar year of $200 Million. The level of DWP which will be the basis of calculating incremental License Fees (if any are required pursuant to the terms hereof) is subject to adjustment from time to
time as set forth in this Exhibit A based on the amount of incremental License Fees paid. Such amount as it may be adjusted from time to time is referred to herein as the “DWP Baseline.” Once the annual level of DWP has reached
$800,000,000 and Licensee has paid the appropriate fee associated with that level, then no subsequent incremental License Fees shall be imposed for any reason. 
 If Licensee’s DWP increases less than twenty-five percent (25%) of the then-applicable DWP Baseline, then Licensee will maintain the current License Fees and no incremental license fees will be incurred pursuant to any of the
provisions of this Exhibit. For the purposes hereof, the term “Buffer” means the amount which is 125% of the then-applicable DWP Baseline. 
  

	2.	Incremental License Fees During the Initial Term. 

 During the
Initial Term, incremental License Fees are only payable based on DWP growth resulting from Licensee acquiring, purchasing, or merging with any other company or entity or acquisition of assets (“Non-Organic Growth”). However, incremental
License Fees may be accrued during the Initial Term because of growth not attributable to Non-Organic Growth (“Organic Growth”) and may become payable immediately following the end of the Initial Term. Specifically, at the beginning of the
first Renewal Term, if any, or upon the exercise by Licensee of the Perpetual Buyout Option as described in Section 4 hereof, Licensee shall pay, in addition to any other amount then due, the amount of any accrued but unpaid incremental License
Fees that would have resulted during the Initial Term as a result of Licensee’s Organic Growth. The additional License Fee will be calculated using the table that appears in Section 5 hereof. 
  

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 If during the Initial Term Licensee’s DWP exceeds the Buffer as a result of Non-Organic Growth (after netting out
any change in DWP that results from Organic Growth), then (i) Licensee will pay an annual, additional License Fee at the end of the year following Licensee’s initial use of the Licensed Software in conjunction with such added DWP resulting
from Non-Organic Growth and each succeeding year in the Initial Term and any Renewal Term(s), and (ii) for all future calculations of incremental License Fees, the amount of the DWP Baseline shall be adjusted by the amount of DWP for which
Licensee has paid incremental License Fees. Licensee agrees to report any use of the Software in conjunction with such incremental DWP resulting from Non-Organic Growth to Guidewire within thirty (30) days from initial use. The additional
License Fee will be calculated using the table that appears in Section 5 hereof. 
 3. Incremental License Fees During any Renewal Term.

 During any Renewal Term, if Licensee’s DWP surpasses the Buffer for any reason (e.g., Non-Organic Growth or Organic Growth), then
(i) Licensee will pay an additional, annual, incremental License Fee at the end of such term and any succeeding Renewal Term following Licensee’s initial use of the Licensed Software in conjunction with such added DWP, and (ii) for
all future calculations of incremental License Fees, the amount of the DWP Baseline shall be adjusted by the amount of DWP for which Licensee has paid incremental License Fees. Licensee agrees to report any use of the Software in conjunction with
such incremental DWP to Guidewire within thirty (30) days from initial use. The incremental license fee shall apply to all DWP increases once Licensee exceeds the Buffer. The incremental license fee will be calculated using the table that
appears in Section 5 hereof. 
 4. Perpetual Buyout Option. At the end of the Initial Term or at the end of any Renewal Term (provided that
Licensee has paid all applicable fees during the Initial Term and any applicable Renewal Term), Licensee will have an option to make the license term perpetual by paying the amounts described in this Section 4 (the “Perpetual Buyout
Option”). Licensee may exercise its Perpetual Buyout Option at the end of the Initial Term or any Renewal Term by paying the following fees: 
  

	a.	One-time, lump sum License Fee equal to 300% of the annual fee during the last year of the term license (i.e., Year 5 of the Initial Term or the last Renewal Term) to be paid upon
exercise of the Perpetual Buyout Option, and no subsequent annual License Fees shall ever be payable. 

  

	b.	Support Services not include included in the perpetual License Fee. Licensee may purchase Support Services for the initial, annual Support Fee in an amount equal 50% the annual fee
during the last year of the term license (i.e., Year 5 of the Initial Term or the last Renewal Term). 

  

	c.	If, after Licensee exercises the Perpetual Buyout Option (the “Perpetual Term”), Licensee’s DWP surpasses the Buffer for any reason (e.g. Non-Organic Growth or
Organic Growth), then Licensee will pay a one-time incremental License Fee following Licensee’s initial use the Licensed Software in conjunction with such added DWP. Licensee agrees to report any use of the Software in conjunction with such
incremental DWP to Guidewire within thirty (30) days from initial use. The incremental license fee will be calculated using the table that appears in Section 5 hereof. 

  

	d.	If Licensee is obligated to pay an incremental License Fee as set forth above and purchases Support Services, then Licensee shall also pay incremental Support Fees equal to 20% of
such incremental License Fees. Licensee shall pay those Support Fees contemporaneously with such incremental license fee. Guidewire will prorate the incremental Support Fees for the then-current Support Services annual term.

  

	e.	Notwithstanding any other term of the Agreement or this Exhibit, if Guidewire consents to the assignment of this Agreement pursuant to Section 9.b. of the Agreement, then
Guidewire may condition such consent on the Software license being restricted to use in conjunction with the amount of Licensee’s DWP immediately prior to such assignment 

  

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 5. Calculations of Incremental License Fees. For any calculation of any incremental license fee required pursuant
to the provisions of Sections 2, 3 or 4 hereof, such fees shall be calculated as follows: 
  

					
			
		  	Total DWP greater than the then-applicable DWP Baseline	  	Incremental license fee is equal to:
			
	1st Band
	  	but less than $300,000,000:	  	amount of DWP above the then-applicable DWP Baseline multiplied by $0.00135
			
	2nd Band
	  	and greater than or equal to $300,000,000 but less than $400,000,000:	  	amount of DWP above the greater of $300,000,000 or then-applicable DWP Baseline multiplied by $0.00111
			
	3rd Band
	  	and greater than or equal to $400,000,000 but less than $800,000,000:	  	amount of DWP above the greater of $400,000,000 or then-applicable DWP Baseline multiplied by $0.00087.
			
	4th Band
	  	and greater than $800,000,000:	  	no additional incremental fee is due

 In making the calculations pursuant to the above table, if the applicable DWP is in a higher numbered band than
the band of the then-applicable DWP Baseline, then the incremental license fee will be the sum of the amounts determined with respect to each applicable lower-numbered band and the band of the DWP. 
  

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 EXHIBIT B 
 MAINTENANCE AND TECHNICAL SUPPORT SERVICES 
  

	1.	SUPPORT SERVICES. Support Services consist of (a) E-Mail Support and Telephone Support provided to designated Licensee technical support contact(s) concerning the installation,
use, and resolution of Issues relating to Supported Releases of the Software, and (b) the provision of any Updates at no additional cost to Licensee. Licensee may designate up to four (4) Licensee technical support contacts to request
Support Services. All Licensee support contacts must be trained in the use of Software. Guidewire provides E-Mail Support and Telephone Support Monday through Friday during the following hours: 9:00 am to 8:00 pm EST (Eastern Standard Time),
excluding holidays. In addition, Guidewire provides support 24 hours per day, 7 days per week, for Severity Level 1 issues only. 

  

	2.	DEFINITIONS. 

  

	 	2.1.	“Dependent Products” means the third party operating systems, databases or other third party software products with which Software was intended to inter-operate as set
forth in the Documentation. 

  

	 	2.2.	“Certified Dependant Products” or “Certify” means Dependant Products that Guidewire has designated for use with Supported Versions of the Software.

  

	 	2.3.	“E-Mail Support” means electronically generated Support Services provided in response to electronically transmitted inquiries by Licensee. 

  

	 	2.4.	“Issue” means an error, question, or other issue related to Supported Releases of the Software for which Licensee needs Support Services assistance. Guidewire provides
Support Services for Issues that are reproducible a Support Release, running unaltered, and on an appropriate hardware, database and operating system configurations, as specified in the Documentation. 

  

	 	2.5.	“Major and Minor Releases.” Guidewire releases the Software with release numbers in the form x.y.z (e.g., 2.1.5). A “Major Release” is defined as all
releases with the same first digit in the release number; for example, 2.0.0, 2.0.1 and 2.1.0 are all part of the same Major Release. A “Minor Release” is defined as all releases with the same first and second digits in the release
number; for example, 2.1.0, 2.1.1, and 2.1.2 are all part of the same Minor Release. A “Maintenance Release” is defined as an individual release with a unique combination of three digits in the release number; for example, 2.1.5 is a
Maintenance Release. 

  

	 	2.6.	“Supported Release” means a Major, Minor or Maintenance Release for which Guidewire provides Support Services as set forth in this Section. Guidewire will support all
releases within a given Major Release for twelve months after general availability of the first subsequent Major Release. For example, Guidewire will support all 2.x.y releases for twelve months after 3.0.0 is generally
available. Guidewire will also support the last Maintenance Releases within a Major Release until the second subsequent Major Release is generally available. Continuing the previous example, if 2.1.5 is the last Maintenance Release within
the 2.x.y Major Release, then Guidewire will support 2.1.5 until 4.0.0 is generally available.

  

	 	2.7.	“Telephone Support” means Support Services telephone assistance provided by Guidewire to the Licensee technical support contact concerning the installation and use of the
Software. 

  

	 	2.8.	“Update(s)” means revisions to the Software that correct defects, errors or bugs or incorporate minor enhancements to the functionality that Guidewire in its discretion
makes generally available to its customers who subscribe to Support Services in the form of Major Releases, Minor Releases and Maintenance Releases. Guidewire will notify Licensee of all Updates available for the Software licensed by Licensee.
Guidewire will make such Updates and corresponding Documentation available to Licensee at no additional cost. 

  

	3.	SUPPORT SERVICES REQUESTS. Licensee shall use the methods described in Section 1 above to engage Guidewire Support Services. Guidewire will use commercially reasonable efforts
to resolve Issues. Guidewire may use any reasonable resolution method available (e.g. fixes, workarounds, etc.) to resolve an Issue. Guidewire will classify and respond to reported Issues according to the Severity Levels and response periods set
forth in Schedule A to this Exhibit. Guidewire does not guarantee resolution to Issues within the response period, only response to initial calls. Failure to contact a Licensee within the response time period because the Licensee is unavailable
(e.g. phone busy, no answer, in a meeting, or out of the office) does not constitute Guidewire’s noncompliance with the response commitment. 

  

	4.	 NON-GUIDEWIRE ISSUES. If Guidewire reasonably believes that a problem reported by Licensee may not be due to an Issue related to the Software, Guidewire will notify
Licensee. At that time, Licensee may (1) instruct Guidewire to proceed 

  

 10 

	 	 
with Issue determination at Licensee’s possible expense as set forth below, or (2) instruct Guidewire that Licensee does not wish the Issue
pursued. If Licensee requests that Guidewire proceed with Issue determination at Licensee’s possible expense and Guidewire reasonably determines that the issue was not due to an Issue in the Software, Licensee shall pay Guidewire’s
then-current and standard consulting rates for all work performed in connection with such determination, plus reasonable and necessary related expenses incurred therewith. Licensee shall not be liable for (i) Issue determination or repair to
the extent problems are due to an Issue in the Software, (ii) work performed under this paragraph in excess of Licensee’s instructions, or (iii) work performed after Licensee has notified Guidewire that it no longer wishes work on the
Issue determination to be continued at its possible expense (such notice shall be deemed given when actually received by Guidewire). 

  

	5.	WHAT IS NOT INCLUDED UNDER SUPPORT SERVICES. 

  

	 	5.1.	Training. Support Services do not cover in-depth training. If training in the use of the Software will take more than thirty minutes of a support engineer’s time,
Guidewire will refer Licensee to implementation services. Guidewire provides implementation services are on a time and materials basis at Licensee’s request. 

  

	 	5.2.	Assistance in the configuration of the Software. Support Services do not include assistance in developing Licensee’s specific configuration requirements. Depending upon
the nature and complexity of the consulting request, Guidewire will refer Licensee to Guidewire implementation services. 

  

	 	5.3.	Information and assistance on technical issues related to the installation, administration, and use of enabling technologies such as databases, computer networks, and
communications. Guidewire does not provide these services. 

  

	 	5.4.	Assistance with the installation and configuration of hardware including, but not limited to computers, hard disks, networks, and printers. Guidewire does not provide these
services. 

  

	 	5.5.	Support Services for Non-Supported Releases. Guidewire only provides Support Services for Supported Releases. Licensee may request Support Services for a non-supported
release on a time and materials basis. 

  

	 	5.6.	Modified versions of the Software. Unless previously approved by Guidewire in writing, Guidewire shall have no obligation to support: (i) any portion of the Software
that has been modified; or (ii) Issues caused by use of Software other than as specified or contemplated in the Documentation. 

  

	6.	REPRODUCING ERRORS. In order to resolve an Issue, Guidewire must be able to reproduce the Issue. Both parties will use reasonable efforts to reproduce the Issue. Guidewire provides
Support Services on a remote basis only. Guidewire will, in Guidewire’s own test facilities and using Guidewire’s own test data, use commercially reasonable efforts to reproduce and diagnose Issues that arise from Licensee’s operation
of Supported Releases. Guidewire recommends that licensee provide Guidewire with dial-up remote access in such instance if possible. Licensee may request on-site Support Services on a time and materials basis. 

  

	7.	CERTIFIED AND SUPPORTED CONFIGURATIONS. 

  

	 	7.1.	Guidewire shall not be obligated to provide Support Services for an Issue that arises from the use of the Software in conjunction with any third party software product that
inter-operates with the Software, unless such third party product is a Dependent Product. 

  

	 	7.2.	For each Major Release and Minor Release of the Software, Guidewire shall Certify at least one version of each of the Dependent Product(s). Such version of each Dependent Product
will be generally available for not less than six months and not more than twenty-four months prior to such Major Release or Minor Release of the Software. 

  

	 	7.3.	If a Certified version of a Dependent Product ceases to be maintained or supported by the Dependent Product Developer, such version will remain Certified and supported by Guidewire
until sixty days after Guidewire Certifies a subsequent version of such Dependent Product or a substitute Dependant Product. 

  

	8.	SUPPORTED RELEASES. 

 Guidewire will provide Support Services for specific
Releases of the Software as follows: 
  

	 	8.1.	Guidewire will support each Major Release for thirty-six months from the initial date of general availability. During this thirty-six month period, Guidewire will support at least
one Minor Release or Maintenance Release; not all releases will necessarily be supported for the entire thirty-six month period. 

  

 11 

	 	8.2.	Guidewire will provide Licensee twelve months notification of its intent to decertify a Major Release of the Licensed Software. 

  

	 	8.3.	In the event that Licensee encounters an Issue which has been fixed in a newer Maintenance Release of the same Major Release, Licensee agrees to upgrade to the newer Maintenance
Release in lieu of receiving a patch to fix the Issue. 

  

 12 

 APPENDIX A TO EXHIBIT B OF THE GUIDEWIRE SOFTWARE LICENSE AGREEMENT 
 Severity Level Standards – Gold Support 
  

									
	Severity	  	 Response
 Time
	  	 Action Plan
 Delivery
	  	 Support Mode
	  	 Resolution Target Time

					
	1	  	2 hours	  	 Preliminary: 8 hours
  
 Detailed:
 24 hours
	  	Continuous, dedicated until restored. Thereafter, Guidewire will work during standard operating hours until resolved.	  	As quickly as possible, with updates every 4 hours.
					
	2	  	Next business day	  	 Detailed:
 Next business day
	  	Non-continuous, Dedicated until restored. Thereafter, vendor will work during standard operating hours until resolved.	  	As quickly as possible, with daily updates.
					
	3	  	Next business day	  	N/A	  	Non-dedicated, non-continuous.	  	Corrected with a normal minor or major product release.
					
	4	  	2 Business days	  	N/A	  	Non-dedicated, non-continuous.	  	None, unless escalated.

 Definitions: 
  
 Severity Levels: 

	 	•	 	 Severity 1 – The Software is unusable, resulting in a critical impact on the operation. No workaround is available. Severity 1 Issues are limited to
production critical events. Most Issues encountered during the development or implementation phase of a project will be classified as Severity 3 or Severity 4. At times it may be appropriate to escalate a development problem to Severity 2.

  

	 	•	 	 Severity 2 – The Software will operate but its operation is severely restricted. No workaround is available to remedy restrictions.

  

	 	•	 	 Severity 3 – The Software will operate with limitations that are not critical to the overall operation. For example a workaround forces a user and/or a
systems operator to use a time consuming procedure to operate the system; or removes a non-essential feature. 

  

	 	•	 	 Severity 4 – Licensee can use the Software and all functionality with only slight inconvenience. 

 Action Plan: 

	 	•	 	 Preliminary – A preliminary action plan consists of a succinct list of tasks to be performed by Guidewire, Licensee, and in some cases, third-party
resources. Guidewire delivers he preliminary action plans for Severity 1 Issues to ensure a coordinated response. 

  

	 	•	 	 Detailed – A detailed action plan is a detailed list of tasks that includes task descriptions, task owners, and target delivery/follow-up times.

 Support Modes: 

	 	•	 	 Continuous – Guidewire support staff works on the Issue on a 24x7 basis. 

  

	 	•	 	 Non-continuous – Guidewire support staff works on the Issue during normal hours of operation. 

  

	 	•	 	 Dedicated – Guidewire’s support staff assigned works exclusively on the Issue. 

  

	 	•	 	 Non-dedicated – Available Guidewire support staff manages the Issue non-exclusively, simultaneously with other support operation requirements.

 Resolution Status: 

	 	•	 	 Restored – the Software or application that it supports is back up and running, although the underlying problem is not yet resolved.

  

	 	•	 	 Resolved – the Issue has been conclusively fixed. 

  

 13 

 Escalation: Guidewire escalates Severity Level 1 Issues that are unresolved after the designated period of time as
follows: 
  

			
	 Escalation Guidelines for Severity Level 1 Technical Support Services
 Requests

	Elapsed Time	  	Escalation Contact
	 > 8 hours
	  	Customer Service Manager
	 > 24 hours
	  	Vice President of Services
	 > 48 hours
	  	Vice President of Development

  

 14Consulting Services Agreement

 Exhibit 10.28 
 GUIDEWIRE SOFTWARE, INC. 
 CONSULTING SERVICES AGREEMENT 
 This CONSULTING SERVICES AGREEMENT (the “Agreement”) is entered into on May 3, 2007 (“Effective Date”), by
and between Guidewire Software, Inc. (“Guidewire”) and the Customer identified below (“Customer”). 
 This
Agreement consists of this signature page, the attached Terms and Conditions, the Exhibits listed below, and any statements of work executed by the parties in accordance with the terms of this Agreement. 
 Contract Number: 
 Customer:
        MGA Insurance Company, Inc. 
 Address:     3333 Lee Parkway,
Suite 1200, Dallas, Texas 75219 
 State/Country of Incorporation:     Texas 
 Exhibits:   A    Insurance, and 
                   B    Consulting Overview
and Rates. 
 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their duly authorized officers or
representatives as of the Effective Date. 
  

									
	Guidewire, Software, Inc.	 		 	Customer: MGA Insurance Company, Inc.
					
	By:	 	/s/ James M. Delvey	 		 	By:	 	/s/ Glenn W. Anderson
	Name:	 	James M. Delvey	 		 	Name:	 	Glenn W. Anderson
		 	        Print Name	 		 		 	        Print Name
		 		 		 		 	
	Title:	 	CFO	 		 	Title:	 	President and Chief Executive Officer
		 		 		 		 	
	Date:	 	May 3, 2007	 		 	Date:	 	May 3, 2007
		 		 		 		 	
	Address:	 	 2121 El Camino Real, 3rd Floor
 San Mateo, CA 94403
	 		 		 	

  

					
	Confidential	 	1	 	

 TERMS AND CONDITIONS 
  

	1.	Definitions. 

 1.1
“Guidewire Technology” shall mean all information, software and data that constitutes or relates to products or technology of Guidewire or the properties, composition, structure, use or processing thereof, all derivative
works thereof, and all related intellectual property rights. 
 1.2 “Services” shall mean any services
performed by Guidewire as specified in the Statement of Work. 
 1.3 “Work Product” shall mean all tangible
and intangible results and items arising out of the Services delivered to Customer by Guidewire under this Agreement, together with all derivative works and all related intellectual property rights. 
  

	2.	Services. 

 2.1
Performance. Guidewire shall use commercially reasonable efforts to perform the Services in accordance with any Statement of Work executed by both parties in accordance with this Agreement (each a “Statement of Work” or
“SOW”). Guidewire performs Services as described in the Services methodology overview set forth in Exhibit B to this Agreement. Customer acknowledges that Guidewire’s performance is dependent in part upon Customer’s reasonable
assistance and performance of its prerequisite obligations set forth in the Statement of Work. Accordingly, any dates or time periods relevant to Guidewire’s performance will be equitably extended automatically to account for any delays due to
failure of Customer to complete any of its prerequisite obligations or to provide such assistance, or due to changes requested by Customer. 
 2.2 Changes. Changes to any Statement of Work or the Services to be performed thereunder shall become effective only when the parties execute a written change order. 
 2.3 Additional Statements of Work. If Customer desires to engage Guidewire for additional services that are not included in the
initial Statement of Work, the parties shall in good faith negotiate additional Statements of Work, subject to the availability of Guidewire personnel and resources. Upon execution by both parties, each additional Statement of Work shall be deemed a
part of this Agreement. Guidewire shall only be obligated to provide Services that are set forth in an executed Statement of Work. 
 2.4
Nature of Relationship. Guidewire’s relationship with Customer will be that of an independent contractor providing consulting services. Nothing in this Agreement shall be construed to create a partnership, joint venture,
principal-agent or employer-employee relationship. 
  

	3.	Fees and Payments. 

 3.1
Fees. Customer agrees to pay Guidewire all fees for Services performed under the applicable Statement of Work (the “Fees”). Guidewire’s current fee structure is set forth in Exhibit B to this Agreement.
Guidewire may increase the Fees on an annual basis, provided such annual increases do not exceed the greater of five percent or the corresponding percentage increase in US CPI. 
 3.2 Expenses. Customer shall reimburse Guidewire for travel and out-of-pocket expenses reasonably incurred in performing the
Services as provided in this Section. Guidewire has a Professional Services travel expense policy (“Policy”) that is comprehensive and meets IRS regulations. Under this policy each member of the team submits an expense report, which is
approved by the immediate supervisor and reviewed by Guidewire’s financial group for adherence to the Policy. The Policy requires receipts for all expenses above $25. Guidewire will bill Customer for out of pocket expenses incurred by its staff
assigned to the project as specified in Exhibit B to this Agreement. 
 3.3 Payment Terms. Customer agrees to pay all
invoices for Fees and expense reimbursement within thirty (30) days from receipt. Customer shall pay a late fee of one percent (1.0%) per month or the highest rate allowed under the law, whichever is lower, on any overdue amounts.

 3.4 Taxes. All fees are exclusive of, and Customer is responsible for, applicable federal, state, or local sales, use,
excise, export or other applicable taxes, except for taxes on the net income of Guidewire. Guidewire may add any such taxes to the applicable invoice. 
  

	4.	Intellectual Property Rights. 

 4.1 Ownership. Guidewire shall retain all right, title and interest in and to the Guidewire Technology and, unless otherwise expressly agreed in an executed Statement of Work, all Work Product. 
  
 
 4.2 Work Product. Unless otherwise expressly agreed in an executed Statement of Work, Customer is hereby granted a license to use all Work Product in conjunction with Guidewire’s generally –available software
licensed by Customer pursuant to the terms of the separate software license agreement between Guidewire and Customer (“License Agreement”) and solely for the internal business purposes of Customer and its corporate affiliates. No right or
licenses are granted except as expressly provided in this Agreement. 
 4.3 Restrictions. Customer shall not (and shall
not allow any third party to) (a) decompile, disassemble, or otherwise reverse engineer the Work Product, (b) remove, alter or obscure any product identification, copyright or other notices contained within or on the Work Product, or
(c) modify, adapt or create a derivative work of any part of any Work Product. 
  

					
	Confidential	 	2	 	

	5.	Term and Termination. 

 5.1
Term. The term of the Agreement shall commence on the Effective Date and shall remain in effect until completion of each Statement of Work issued hereunder, unless terminated earlier as provided herein. 
 5.2 Termination for Cause. Either party may terminate this Agreement or an individual Statement of Work upon thirty (30) days
written notice if the other party shall be in breach or default of any material provision of this Agreement or the Statement or Work, unless such breach is cured during such notice period. 
 5.3 Effect of Termination. In the event of termination of this Agreement, any amounts owed to Guidewire under this Agreement before
such termination will be immediately due and payable. Sections 1, 3, 4.1, 4.2 (unless termination is for Customer’s breach), 4.3, 7, 8.3, and 9 through 11 shall survive termination of this Agreement. 
 6.    Personnel. Customer shall have the right, in its sole reasonable discretion, to require that Guidewire remove individual
personnel from performing services under this Agreement to the extent any such individual’s performance fails to meet the requirements of this Agreement or is otherwise reasonably unacceptable. Further, Guidewire shall use reasonable efforts to
maintain continuity among its personnel that are providing Services to Customer, and shall use reasonable efforts to give Customer thirty (30) days prior written notice of any change in personnel. In the event of any such personnel removal,
Guidewire shall use commercially reasonable efforts to furnish replacement personnel with the requisite skills, training and experience, subject to Customer’s removal rights described above. In compliance with applicable IRS regulations,
Guidewire will assign its personnel to a project for a period not to exceed eleven months, unless otherwise agreed by the parties in writing and upon Customer’s agreement to pay any applicable taxes as specified in Exhibit B to this Agreement.

  

	7.	Confidential Information 

 7.1
Protection of Confidential Information. Each party (“Receiving Party”) agrees to keep confidential and not disclose or use except in performance of its obligations under this Agreement, information related to
the other party’s (“Disclosing Party”) technology, finances or business that the Receiving Party learns or obtains in connection with this Agreement (“Confidential Information”). For avoidance of
doubt, all Guidewire Technology is the Confidential Information of Guidewire. Neither party shall disclose the terms of this Agreement to any third party without the prior written consent of the other party, except as required by law or in
connection with a merger or financing transaction. Each party shall use reasonable precautions to protect the other’s Confidential Information and employ at least those precautions that such party employs to protect its own confidential or
proprietary information. 
 7.2 Exceptions. Confidential Information shall not include information the Receiving Party
can document (a) is in or enters (through no improper action or inaction by the Receiving Party or any affiliate, agent or employee) the public domain, or (b) was rightfully in its possession or known by it prior to receipt from the
Disclosing Party, or (c) was rightfully disclosed to it by another person without restriction, or (d) was independently developed by it by persons without access to such information and without use of any Confidential Information of the
Disclosing Party. 
 7.3 Required Disclosures. Each party, with prior written notice to the Disclosing Party, may
disclose such Confidential Information to the minimum extent it is required to be disclosed pursuant to the lawful requirement or request of a governmental entity or agency (including a court order or subpoena), provided that reasonable measures are
taken to seek appropriate confidential treatment or a protective order, or to assist the other party to do so. 
  

	8.	Representations and Warranties. 

 8.1
Guidewire hereby represents and warrants to Customer that the Services shall be performed in a professional and workmanlike manner consistent with industry practices. 
 8.2 Remedy for Breach of Warranty. In the event of a breach of Section 8.1, Customer shall promptly deliver a written notice (a “Notice”) thereof to Guidewire, but not
later than thirty (30) days from the date on which such Services were performed or such Work Product was delivered. The Notice shall describe the breach in sufficient detail to allow Guidewire to correct such deficiencies or errors (the
“Deficiencies”) or re-perform the services. Within thirty (30) days of receiving the Notice, Guidewire will use reasonable commercial efforts to correct the Deficiencies so that the Services or Work Product substantially
conforms to the warranty set forth in Section 8.1, above. If the Services shall not have been performed consistently with the requirements of Section 8.1, any effort spent in correcting the deficiencies or errors will be done at no charge
to Customer. In the event that Customer modified the Work Product, then the Customer will be responsible for billable time and expenses as provided for in this Agreement. If Guidewire is unable to remedy the breach of the above warranty in a
reasonable period of time after reasonable commercial efforts to do so, Customer may terminate the applicable Statement of Work, in which event, Customer shall be entitled to recover the fees paid to Guidewire for the deficient portion of such
Services or Work Product. Section 8.2 shall constitute Customer’s sole and exclusive remedy for breach of Section 8.1. 
 8.3 Disclaimer. EXCEPT AS EXPRESSLY PROVIDED IN SECTION 8.1, THE SERVICES AND WORK PRODUCT ARE PROVIDED “AS IS” WITHOUT ANY WARRANTY, AND CUSTOMER’S USE OF THE FOREGOING IS SOLELY AT CUSTOMER’S OWN
RISK. Guidewire does not warrant that the Services or Work Product will meet Customer’s requirements or that the Services or Work Product will be error-free. To the fullest extent permissible under applicable law, Guidewire disclaims all
representations and warranties, express and implied, concerning or related to this agreement, including, but not limited to, any warranties of merchantability, fitness for a particular purpose. 
  

	9.	Limitations of Liability; Disclaimers. 

  

					
	Confidential	 	3	 	

 9.1 IN NO EVENT SHALL EITHER PARTY BE LIABLE FOR ANY LOST PROFITS ANY FORM OF SPECIAL, INDIRECT,
SPECIAL, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES FROM ANY CAUSES OF ACTION ARISING WITH RESPECT TO THIS AGREEMENT, WHETHER ARISING IN TORT (INCLUDING NEGLIGENCE), CONTRACT, STRICT LIABILITY OR OTHERWISE, WHETHER OR NOT SUCH PARTY HAS BEEN
ADVISED OF THE POSSIBILITY OF SUCH DAMAGE. IN NO EVENT WILL GUIDEWIRE BE LIABLE TO CUSTOMER IN AN AMOUNT THAT EXCEEDS THE FEES PAID FOR THE SERVICES OR WORK PRODUCT GIVING RISE TO THE CLAIM UNDER THE APPLICABLE STATEMENT OF WORK. 
 9.2 The limitations in section 9.1 shall not apply to any breach of confidentiality or breach of the licenses granted under this agreement or with
respect to fees owed under section 3. 
 10.    Force Majeure. Guidewire shall not be liable to Customer or any other
person for any delay or failure in the performance of this Agreement or for loss or damage of any nature whatsoever suffered by such party due to disruption or unavailability of communication facilities, utility or Internet service provider failure,
acts of war, acts of vandalism, lightning, fire, strike, natural disaster or any other causes beyond Guidewire’s reasonable control. 
  

	11.	Other Important Terms. 

 11.1
Entire Agreement. This Agreement, together with any Exhibits hereto and any Statements of Work executed hereunder, contains the entire agreement of the parties, and supersedes any and all previous agreements with respect to the subject
matter hereof, whether oral or written. Any use of purchase orders, invoices, packaging, or other documents that contain pre-printed terms are not a part of this Agreement and are deemed to be for administrative convenience only and the pre-printed
terms therein do not modify the terms of this Agreement. 
 11.2 Severability; Waiver. The invalidity or
unenforceability of any provision of this Agreement shall not affect any other provision of this Agreement, and the remaining provisions shall continue with the same effect as if such unenforceable or invalid provision had not been included in this
Agreement. Except as otherwise expressly provided herein, any provision of this Agreement may be amended and the observance of any provision of this Agreement may be waived (either generally or any particular instance and either retroactively or
prospectively) only with the written consent of the party against whom such modification or waiver will be enforced. 
 11.3
Binding Nature; Assignment. This Agreement shall be binding and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns. This Agreement may not be assigned by Customer without
Guidewire’ prior written consent, such consent not to be unreasonably withheld. Guidewire may assign, delegate and/or subcontract any or all of its rights or obligations hereunder. 
 11.4 Notices. All notices and consents required or permitted to be given under this Agreement shall be in writing to the parties at
the addresses designated herein or to such other address as either party may designate to the other by written notice, and shall be effective upon receipt. Written notice shall be made by personal delivery or sent by nationally recognized overnight
commercial courier service to the other party. 
 11.5 Governing Law. This Agreement shall be governed by and construed
under the laws of the State of California and the United States without regard to conflicts of laws provisions thereof. Unless waived by Guidewire in writing for the particular instance, the exclusive venue for actions related to the subject matter
hereof shall be in the California state and federal courts having within their jurisdiction the location of Guidewire’ principal place of business, and both parties consent to the jurisdiction of such courts. In any action or proceeding to
enforce rights under this Agreement, the prevailing party shall be entitled to recover costs and attorneys’ fees. 
 11.6
Counterparts. This Agreement may be executed in two counterparts, each of which shall be deemed to be an original, and both of which together shall constitute one contract. 
 11.7 Insurance. During the term of any Statement of Work, Guidewire will maintain the insurance policies and coverages set forth in
Exhibit A. 
  

					
	Confidential	 	4	 	

  
 Exhibit A 
 Insurance 
 [See attached]

  

					
	Confidential	 	5	 	

 Exhibit B 
 Fees and Services Overview 
 1. Consultant Work Overview 
 Guidewire consultants are focused on the configuration and integration of a Guidewire product in a Customer environment. Guidewire consultants will
collaborate with Customer staff to ensure that a reliable and maintainable solution is delivered. Guidewire consultants will collaborate as necessary to ensure that non-Guidewire applications interact properly with the Guidewire product. 

Guidewire consultants do not play the primary project management role in customer projects. Instead, they focus on the Guidewire product and assist
the customer team to successfully complete the project. In addition to the dedicated consulting team, Guidewire also provides specialized consultants in various areas, including program management, integration architecture, conversion,
infrastructure, and education, as demanded by a specific project. 
 Guidewire consultants work with the Guidewire Implementation
Methodology, which includes the following project phases: 
  

	 	•	 	 Project Inception 

  

	 	•	 	 Design, Configuration, and Integration 

  

	 	•	 	 Integration Testing 

  

	 	•	 	 Acceptance Testing 

  

	 	•	 	 Pilot (optional consultant involvement) 

  

	 	•	 	 Deployment (optional consultant involvement) 

 The project can be delivered using the preferred Guidewire Agile Development approach or the traditional Waterfall Development approach. 
 1.1 Team Structure 
 A Guidewire team generally consists of at least one functional and one technical consultant. At
times there are additional functional and technical consultants assigned to a project. One functional consultant will be named the Guidewire Project Manager and one technical consultant will be named the Guidewire Technical Lead. 
 The Guidewire Project Manager is responsible for all Guidewire recommendations and decisions related to the project, considering input from Guidewire
team members, customer team members, and other Guidewire colleagues as appropriate. The Guidewire Project Manager reports to a Program Manager who is responsible for several Guidewire projects. Guidewire technical consultants report to a Principal
Integration Architect who is responsible for the technical aspects of several Guidewire projects. 
 At times the Program Manager and the
Principal Integration Architect may be assigned to the project for several days a month, as approved by the customer. In addition, specialized consultants in areas such as infrastructure or conversion may also be assigned to the project on a
part-time or full-time basis. The Preliminary Consulting Estimate includes a suggested budget for these consultants, which may be refined during the Project Inception phase. Program Managers, Principal Integration Architects, and specialized
consultants are only assigned as agreed upon by the customer and Guidewire. 
 The dedicated Guidewire team generally works on the customer
site for a majority of their days on a project and works at a Guidewire location or a home office on the remaining days. 
  

					
	Confidential	 	6	 	

 1.2 Levels and Titles 
 Guidewire consultants are classified into five levels that represent Guidewire and industry experience. Descriptions of these levels including general
qualifications are included below. For each level, there is a corresponding set of job titles. Note that job titles are generally used in day-to-day operations; levels are generally used only for determining rates. 
 All Guidewire consultants are certified on the applicable Guidewire product or products. 
 1.1 Executive 
 The Executive
level is reserved for Guidewire executives. Guidewire executives will only be assigned to a project as agreed upon by the customer. 
 Corresponding titles: Vice President. 
 1.2 Managing Consultant 
 A Managing Consultant is responsible for multiple Guidewire projects. All individuals assigned to a Guidewire project report directly to a Managing
Consultant. Managing Consultants include Program Managers who oversee all administrative and functional project needs and Principal Integration Architects who oversee all infrastructure and integration project needs. Managing Consultants have at
least ten years’ professional experience and a minimum of five years’ experience in software implementations. Managing Consultants also have significant experience implementing Guidewire products. Managing Consultants are typically
assigned to projects on a part-time basis ranging from one to ten days per month. 
 Corresponding titles: Program Manager, Principal Integration Architect.

 1.3 Principal Consultant 
 Principal Consultants have at least eight years’ professional experience and a minimum of four years’ experience in software implementations. Principal Consultants typically play leadership roles on project
teams, often as Project Manager or Technical Lead, and also possess the skills to provide individual contributions. Consultants appointed as Project Managers have extensive project management experience, while consultants appointed as Technical
Leads have extensive experience in software application integration. 
 Corresponding titles: Senior Project Manager, Senior Integration
Architect, Senior Infrastructure Architect, Senior Education Consultant, Conversion Specialist. 
 1.4 Senior Consultant

 Senior Consultants have at least five years’ professional experience and a minimum of three years’ experience in software
implementations. Senior Consultants have the skills and experience necessary to play leadership roles such as Project Manager or Technical Lead, but may work as hands-on contributors. Senior Consultants play leadership roles on individual aspects of
a project if not the entire project. 
 Corresponding titles: Project Manager, Integration Architect, Education Consultant. 
 1.5 Consultant 
 Consultants
have at least three years’ professional experience, with prior experience in software implementations. Consultants have the skills and training necessary to play major roles in a Guidewire project, either in hands-on system configuration or
technical integration. Consultants can play leadership roles on individual aspects of a project, and will train and mentor customer team members during the course of the project. 
  

					
	Confidential	 	7	 	

 Corresponding titles: Senior Functional Consultant, Senior Technical Integration Consultant. 

2. Guidewire Fees and Expenses 
 2.1
Rate Structure 
 Guidewire invoices customers based on a professional day. Hours within the professional day (up to forty hours
per typical five-day week) are billed to the customer, while hours exceeding the professional day are categorized as non-billable. Guidewire invoices are based on the daily rates listed below. 
 For a period of one year from the Effective Date, the Consulting Services defined in the Statement of Work will be provided at the following rate
structure: 
  

			
	 Level
	  	 Daily rate

		
	 Executive
	  	$3,000
		
	 Managing Consultant
	  	$2,400
		
	 Principal Consultant
	  	$2,000
		
	 Senior Consultant
	  	$1,700
		
	 Consultant
	  	$1,400

 2.1 Review and Promotions 
 All Guidewire consultants are reviewed at least once annually, in April or October. On review, a consultant’s title and level may be adjusted if
appropriate. In these cases, the daily rate billed to Customer may increase. 
 2.2 Budgeted and Actual Fees 
 Individual Statements of Work may include estimates of the timeframe and effort required to complete the work specified in that Statement of Work. These
estimates represent our understanding of the planned project scope and the costs associated with that scope. Estimates are intended only as a guide for budget planning and scheduling. Consulting Services are provided on a time and materials basis:
Customer shall pay Guidewire for all of the time spent performing such Consulting Services, plus materials, taxes, and expenses. Invoices will be based on actual effort and actual rates as described above. 
 2.3 Expenses. Customer will reimburse Guidewire for reasonable expenses incurred by one of the following methods: 
 [Option 1] Guidewire will invoice, and Customer will pay, a flat rate of $315 per day for expenses. This rate will be applied to all full or partial
professional days spent providing Consulting Services by any consultant, whether working at the Customer site or working remotely. This applies to all consultants engaged on the project, even in the case where Guidewire elects not to invoice
Customer for their time. Guidewire may increase the flat rate on an annual basis, provided such annual increases do not exceed the greater of five percent or the corresponding percentage increase in US CPI. 
 [Option 2] Guidewire will invoice, and Customer will pay, all actual expenses incurred in the course of providing the Consulting Services, including but
not limited to travel, lodging, meals, and telecommunications. These expenses may be incurred either in the course of working at the Customer site or while working remotely. This applies to all expenses incurred by consultants engaged on the
project, even in the case where Guidewire elects not to invoice Customer for their time. In order to minimize our costs, 

  

					
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Guidewire will provide Customer a summary of the out of pocket expenses incurred by each member of the project team with the monthly invoice. This summary
will provide information about each category of expense (e.g. hotel, air, per diem other, etc), but Guidewire will not provide actual receipts and copies of the expense reports. 
 2.4 Long-Term Assignments 
 The
United States Internal Revenue Code defines a Long-Term Assignment (“LTA”) as one in which a single person expects to work in a single tax location for a period exceeding twelve months. Slightly different definitions apply for people
working close to their home location, supervisors, or part-time consultants. During an LTA, reimbursed business expenses are treated as taxable compensation. In order to keep LTAs cash-neutral for employees, Guidewire “grosses up” expense
reimbursements so that, after taxes, the employee’s net reimbursement balances his expenses. 
 As a matter of policy, in order to
minimize costs for customers, Guidewire assigns individual consultants to a single project or tax location for no more than eleven months. If Customer prefers to keep a given consultant on a project for longer than twelve months, or on any other
schedule that creates an LTA, Guidewire will invoice Customer for 160% of that consultant’s expenses, and Customer agrees to pay the invoiced amount. Any LTAs must be approved in writing by Customer. 
 2.5 Reporting Vendor Services 
 The licensed Guidewire product may include a component that was developed by a third-party reporting solution vendor. If Customer desires services from the reporting solution vendor for training or custom report development, they will incur
a daily rate of $1,500 to $2,000 per day. If applicable, a preliminary estimate for reporting vendor services is included in the Preliminary Consulting Estimate. This estimate may be refined in the Project Delivery Estimate. 
 Guidewire will engage the reporting vendor as necessary during the project. 
  

					
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