Document:

Supplemental Retirement Plan

 Exhibit 10.19 
  
 

 
  
 INFINITY SUPPLEMENTAL RETIREMENT
PLAN 
  
 Article I. The Plan 
  
 1.1 Establishment of the Plan 
  
 Infinity Property & Casualty Corporation (the “Company”) hereby establishes
the Infinity Supplemental Retirement Plan for eligible employees of the Company and participating Affiliates, to be deemed effective as of March 1, 2003. This Plan shall be known as the Infinity Supplemental Retirement Plan (the “Plan”).

  
 1.2 Purpose of the Plan 
  
 The Plan is intended to permit eligible employees of the Company and its Affiliates to
accumulate additional retirement income through a nonqualified deferred compensation plan that enables them to receive employer retirement contributions that are precluded by the provisions of the 401(k) Retirement Plan or by law due to limitations
on compensation which may be considered in making such contributions under the 401(k) Retirement Plan. 
  
 The group of eligible employees shall be limited to a “select group of management or highly compensated employees” within the meaning of ERISA Section 201(2). 
  
 Benefits provided under this Plan shall be paid solely from the general assets of the Company
and participating Affiliates. This Plan, therefore, is exempt from the participations, vesting, funding and fiduciary requirements of Title I of ERISA. The Company may establish a rabbi trust (the “Trust”) which may be used to pay benefits
arising under the Plan and all costs, charges and expenses relating thereto; except that, to the extent that the funds held in the Trust are insufficient to pay such benefits, costs, charges and expenses, the Company shall pay such benefits, costs,
charges and expenses. 
  
 1.3 Applicability of the Plan 
  
 This Plan applies only to eligible Employees who are in the active employ of the Company or
a participating Affiliate on or after the effective date of the Plan. 
  
 Article II. Definitions 
  
 Whenever used in the Plan, the
following terms shall have the meanings set forth below unless otherwise expressly provided. The definition or any term in the singular shall also include the plural. 
  

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 2.1 Account 
  
 Account means the bookkeeping account for each Participant that represents salary reduction contributions made on the Participant’s behalf under Section 4.1,
including any gains and losses credited on such contributions under Section 5.2. 
  
 2.2 Administrative Committee 
  
 Administrative Committee means
the committee appointed in accordance with Sections 7.1 to administer the Plan as the Plan Administrator. 
  
 2.3 Affiliate 
  
 Affiliate means any
entity which, along with the Company, is a member of a controlled group of employers under Code Section 414(b), (c), (m), or (o). 
  
 2.4 Beneficiary 
  
 A Participant’s Beneficiary under this Plan shall be the same person or entity designated as the Participant’s beneficiary under the 401(k) Retirement Plan. 
  
 2.5 Board 
  
 Board means the Company’s Board of Directors. 
  

2.6 Code 
  
 Code means the Internal Revenue Code of 1986, as amended, or as it may be amended from time to time. A reference to a particular section of the Code also shall be deemed to refer to the regulations under that Code
section. 
  
 2.7 Company 
  
 Company means Infinity Property and Casualty Corporation or any successor thereto.

  
 2.8 Compensation 
  
 Compensation for any Plan Year means a participant’s “Compensation” as
defined under the 401(k) Retirement Plan, without regard to any limits on such Compensation imposed by Code Section 401(a)(17). 
  
 2.9 Employee 
  
 Employee means any person who is employed by the Company or an Affiliate. 
  

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 2.10 Employer 
  
 Employer means the Company and each Affiliate which has adopted this Plan for its eligible Employees. 
  
 2.11 ERISA 
  
 ERISA means the Employee Retirement Income Security Act of 1974, as amended, or as it may be amended from time to time. A reference to a particular section of ERISA shall
also be deemed to refer to the regulations under that section. 
  
 2.12
Participant 
  
 Participant means an Employee of an Employer who has met, and
continues to meet, the eligibility requirements of Sections 3.1 and 3.2. 
  
 2.13 Plan 
  
 Plan means the Infinity Supplemental Retirement
Plan, as amended from time to time. 
  
 2.14 Plan Administrator 

 
 Plan Administrator means the Administrative Committee of the Plan appointed pursuant to
Section 7.1 of the Plan. 
  
 2.15 Plan Year 
  
 Plan Year means the calendar year. 
  
 2.16 Termination of Service 
  
 Termination of Service means an Employee’s death or resignation, discharge or
retirement from the Company and its Affiliates. 
  
 2.17 Valuation Date

  
 Valuation Date means the last day of each calendar quarter and any other
date that the Plan Administrator selects in its sole discretion for the revaluation and adjustment of Accounts. 
  
 Article III. Participation 
  
 3.1 Eligibility 
  

	 	(a)	 Any Employee who is eligible to participate in the 401(k) Retirement Plan and whose annual Compensation paid in the prior Plan Year was equal to or 

  

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greater than the amount defined in Code Section 414(q) for a highly compensated employee for the current Plan Year and who is determined by the Company to be
a highly compensated employee as defined in the Company’s 401(k) Retirement Plan shall be eligible to participate in the Plan as of January 1 of the Plan Year. Any employee hired during the year whose annual Compensation is expected to be equal
to or greater than the amount described in the preceding sentence for the current Plan Year and who is determined by the Company to be a highly compensated employee shall be eligible to participate in the Plan immediately. 
  

	 	(b)	An Employee shall become a Participant on the first day of the month immediately following the date he or she becomes eligible to participate as provided in the preceding paragraph
(a). However, no Employee shall become a Participant unless the Employee is a member of a “select group of management or highly compensated employees” within the meaning of ERISA Section 201(2). 

  
 3.2 Duration 
  
 An Employee who becomes a Participant under Section 3.1 shall remain an active Participant until his or her Termination of Service. No
contributions shall be credited to the Account of an individual after his active participation has been terminated. However, such individual shall continue to be a Participant for all other purposes until all benefits to which he or she is entitled
to receive under this Plan have been paid. 
  
 Article IV. Benefits

  
 4.1 Employer Supplemental Retirement Contributions 
  

	(a)	Eligibility. The amount of the employer supplemental retirement contribution allocated to a Participant’s Account for a Plan Year shall equal the difference in the
amount of retirement contribution that the Participant would have received under Section 3.1(a) (discretionary employer contribution) of the 401(k) Retirement Plan if his or her Compensation under such plan had not been subject to the Code Section
415 annual defined contribution plan compensation limitation, less the retirement contribution actually made for the Participant in accordance with Section 3.1(a) (discretionary employer contribution) of the 401(k) Retirement Plan. To receive this
employer supplement retirement contribution, a Participant must have satisfied all requirements for a retirement contribution under the 401(k) Retirement Plan for the Plan Year. 

  

	(b)	Allocations. A Participant shall be credited with employer supplemental retirement contributions under this Plan for a Plan Year at such time as the Participant is credited
with retirement contributions under the 401(k) Retirement Plan. 

  

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 4.2 Forfeitability of Benefits 
  
 Participants shall vest in employer supplemental retirement contributions to this Plan in accordance with the vesting schedule set forth in
Section 9.2 of the 401(k) Retirement Plan applicable to retirement contributions under such plan, and also shall become fully vested upon any other event set forth in the 401()k) Retirement Plan that would have resulted in his or her full vesting in
retirement contributions under such plan, subject, however, to the substantial risk of forfeiture set forth in Section 5.3. 
  
 Article V. Forfeitability of Benefits 
  
 5.1 Participant Accounts 
  
 Each contribution credited to a Participant under Article IV shall be allocated to an individual bookkeeping Account maintained on behalf of that Participant by the Plan
Administrator. Each Participant’s Account shall be adjusted for earnings in the manner described in Section 5.2. 
  
 5.2 Valuation of Participant Accounts 
  
 The Company may, but is not required to, establish a rabbi trust (“Trust”) and make contributions to it corresponding to any or all amounts accrued under
Article IV. These contributions will be credited with income, expenses, gains and losses in accordance with the investment experience of the Trust. The Administrative Committee may direct the trustee of the Trust to establish investment funds in
accordance with the rules prescribed by the Administrative Committee. The Administrative Committee may alter the available funds or the procedures for allocating Account balances among them at any time. 
  
 With regard to benefits accrued under the Plan with respect to which the Company has not made
contributions to a Trust as provided in the preceding paragraph, as of each Valuation Date, each Participant’s Account shall be adjusted to reflect earnings as follows: An average of the Participant’s Account (the “Average Account
Balance”) shall be obtained by dividing (a) the sum of (i) the Participant’s Account as of the immediately preceding Valuation Date and (ii) the Participant’s Account as of the immediately preceding Valuation Date plus all
contributions since the immediately preceding Valuation Date, by (b) two. The Participant’s Average Account Balance shall be multiplied by the Applicable Interest Rate, and this product shall be added to or subtracted from the
Participant’s Account. The Applicable Interest Rate for any plan year shall be equal to the interest rate then in effect for the Company’s Deferral Compensation Plan. 
  
 5.3 Financing 
  
 The benefits under this Plan shall be paid out of the general assets of the Employers (including assets held in the Trust). No Participant or Beneficiary shall have any
interest in any specific asset of any Employer. To the extent that any person acquires a right to 

  

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receive payments under this Plan, such right shall be no greater than the right of any unsecured general creditor of any Employer. Nothing contained in this
Plan, and no action taken pursuant to the provisions of this Plan, shall create a fiduciary relationship between an Employer and any Participant or Beneficiary or a right of continued employment for any Participant. 
  
 Article VI. Distributions 
  
 6.1 Termination of Service 
  
 Upon a Participant’s Termination of Service, the Participant shall be entitled to the
balance of his or her Account in the same manner and at the same time as set forth in Section 6.3 of the 401(k) Retirement Plan. 
  
 6.2 Death of the Participant 
  
 If the Participant dies before the distribution of his or her Account, the balance in the Account shall be distributed to the Participant’s Beneficiary in a lump sum
cash payment within 90 days of the Valuation Date immediately following the Participant’s death. 
  
 6.3 No In-Service Withdrawals 
  
 A
Participant may not receive a distribution from his or her Account before incurring a Termination of Service. 
  
 Article VII. Administration 
  
 7.1
Administration 
  
 The Plan shall be administered by the Administrative
Committee appointed by the Board to serve as the Plan Administrator. The Administrative Committee shall consist of one or more persons appointed by the Board. The Board may remove any member of the Administrative Committee at any time, with or
without cause, and may fill any vacancy. If a vacancy occurs, the remaining member or members of the Administrative Committee shall have full authority to act. The Board will transmit to the trustee of any Trust created the names and authorized
signatures of the members of the Administrative Committee and, as changes take place in membership, the names and signatures of new members. Any member of the Administrative Committee may resign by delivering his or her written resignation to the
Board, the trustee and the Administrative Committee. Any such resignation becomes effective upon its receipt by the Board or on such other date as is agreed to by the Board and the resigning member. The Administrative Committee acts by a majority of
its members at the time in office and may take action either by vote at a meeting or by consent in writing without a meeting. The Administrative Committee may adopt such rules and appoint such subcommittees as it deems desirable for the conduct of
its affairs and the administration of the Plan. 
  

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 The Administrative Committee as Plan Administrator shall have all powers necessary or appropriate to carry out the
provisions of the Plan. The Plan Administrator shall have absolute and complete discretionary authority to interpret and administer the Plan and shall have the exclusive right to make any finding of fact necessary or appropriate for any purpose
under the Plan including, but not limited to, the determination of eligibility for and amount of any benefit. The Plan Administrator shall have the exclusive right to interpret the terms and provisions of the Plan and to determine any and all
questions arising under the Plan or in connection with its administration, including, without limitation, the right to remedy or resolve possible ambiguities, inconsistencies, or omissions by general rule or particular decision, all in its sole and
absolute discretion. To the extent permitted by law, all finding of fact, determinations, interpretations, and decisions of the Plan Administrator shall be conclusive and binding upon all persons having or claiming to have any interest or right
under the Plan. The Plan Administrator may, in its sole and absolute discretion, delegate any of its powers and duties under this Plan to one or more subcommittees or individuals. In such a case, every reference in the Plan to the Plan Administrator
shall be deemed to include such matters within their jurisdiction. The Plan Administrator shall have right to consult with attorneys and other advisors regarding its duties under this Plan, which attorneys and advisors may be employed by an
Employer. 
  
 The Company agrees to indemnify and hold harmless each member of the
Administrative Committee against any and all expenses and liabilities arising out of his or her action or failure to act in such capacity, excepting only expenses and liabilities arising out of his or her own gross negligence or willful misconduct.
This right of indemnification is in addition to any other rights to which a member of the Administrative Committee may be entitled. The liabilities and expenses against which a member of the Administrative Committee is indemnified hereunder include,
without limitation, the amount of any settlement or judgment, costs, counsel fees and related charges reasonably incurred in connection with a claim asserted or a proceeding brought against such a member or the settlement thereof. The Company may,
at its own expense, settle any claim asserted or proceeding brought against any member of the Administrative Committee when such settlement appears to be in the best interests of the Company. 
  
 The members of the Administrative Committee shall serve without compensation for services as
such. All expenses of the Administrative Committee shall be paid by the Company. 
  
 7.2 Appeals From Denied Claims 
  
 Any participant may file a
claim for benefits. If the claim is denied, the claimant shall be provided written notice within 90 days with: 
  

	 	•	 	Specific reasons for the denial; 

  

	 	•	 	Specific references to the Plan provisions on which the denial is based; 

  

	 	•	 	A description of any additional information needed and why it is needed; and 

  

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	 	•	 	An explanation of (1) the procedures and time limits for an appeal, (2) the right to obtain information about the procedures and (3) the right to sue in federal court.

  
 If there are special circumstances delaying the determination of
the claim, the claimant may be notified within the 90-day period explaining the special circumstances and stating that an answer will be provided within 90 more days. If an answer is not received within the 90 days (or 180 days if an extension
notice has been provided), the claim shall be deemed denied. 
  
 Any claimant for
a benefit (or, as applicable, his or her estate or other representative or beneficiary) may, within sixty (60) days after receipt of a letter of denial, appeal to the Administrative Committee by writing to: Administrative Committee, Infinity
Supplemental Retirement Plan,
                                        ,
and may request a review of the denial of the benefit, with opportunity to submit his or her position in writing. Appeals not timely filed shall be barred. The claimant is entitled to: 
  

	 	•	 	receive, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant to his or her claim. 

 

	 	•	 	submit written comments, documents, records and other information relating to the claim, which will be considered without regard to whether such information was submitted or
considered in the initial determination. 

  
 The Administrative
Committee will render a written decision, written in a manner calculated to be understood by the claimant, and mail the written decision to the claimant at the claimant’s last address known to the plan sponsor, specifying by reference to the
Plan the reasons for denial of such part or all of the claimed benefit as it denies upon review. Such letter shall state the claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of all documents, records
and other information relevant to the claim; describe the Plan’s voluntary appeal procedures, if any; and notify the claimant of his or her right to bring an action under Section 502(a) of ERISA. 
  
 7.3 Tax Withholding 
  
 The Employer may withhold from any payment under this Plan any federal, state, or local taxes required by law to be withheld with respect to
the payment and any sum the Employer may reasonably estimate as necessary to cover any taxes for which it may be liable and that may be assessed with regard to the payment. 
  
 7.4 Expenses 
  
 All expenses incurred in the administration of the Plan shall be paid by the Employers. 
  

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	Article	VIII. Adoption of the Plan by Affiliates; Amendment and Termination of the Plan 

  
 8.1 Adoption of the Plan by Affiliates 
  
 All Affiliates of the Company are deemed to have adopted this Plan as of the later of (i) the effective date of this Plan as set forth in Section 1.1 or (ii) the date of
such Affiliate’s affiliation with the Company. 
  
 8.2 Amendment and
Termination 
  
 The Company hereby reserves the right to amend, modify or
terminate the Plan at any time and for any reason by action of the Board of Directors of the Company. However, no amendment or termination shall adversely affect the amount of benefits accrued by a Participant prior to the date of the amendment or
termination. 
  
 Article IX. Miscellaneous Provisions 
  
 9.1 Non-Alienation 
  
 No benefit payable under the Plan shall be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge,
encumbrance, or charge. Any attempt to anticipate, alienate, sell, transfer, assign, pledge, encumber, or charge shall be void. Benefits shall not be in any manner subject to the debts, contracts, liabilities, engagements, or torts of, or claims
against, any Participant or Beneficiary, including claims of creditors, claims for alimony or support, and any other like or unlike claims. 
  
 9.2 Distribution to Minors & Incompetents 
  
 In making any distribution to or for the benefit of any minor or incompetent person, the Plan Administrator, in its sole and absolute discretion, may, but need not,
direct such distribution to a legal or natural guardian or other relative of such minor or court appointed committee of such incompetent, or to any adult with whom such minor or incompetent temporarily or permanently resides, and any such guardian,
committee, relative or other person shall have full authority and discretion to expend such distribution for the use and benefit of such minor or incompetent. The receipt of such guardian, committee, relative or other person shall be a complete
discharge to the Company and any Employer hereunder without any responsibility on its part or on the part of the Plan Administrator to see the application thereof. 
  
 9.3 Severability 
  
 If any provision of this Plan shall be held illegal or invalid, the illegality or invalidity shall not affect its remaining parts. The Plan shall be construed and
enforced as if it did not contain the illegal or invalid provision. 
  

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 9.4 Applicable Law 
  
 Except to the extent preempted by applicable federal law, this Plan shall be governed by and construed in accordance with the laws of the State of Ohio. 
  

 Page 10 of 10Employment Agreement for James R. Gober

 Exhibit 10.21 
  
 EMPLOYMENT AGREEMENT 
  

THIS EMPLOYMENT AGREEMENT (the “Agreement”) is made and entered into this 8th day of March, 2005, between Infinity Property and Casualty
Corporation, an Ohio corporation (the “Company”) and James R. Gober (the “Executive”). 
  
 RECITALS 
  
 A. It is the desire of the Company to continue to retain the services of the Executive as its Chief Executive Officer and President as described in this Agreement. 
  
 B. The Executive desires to continue to provide his services to the Company on the terms set forth in this Agreement.

  
 C. This agreement supercedes the Employment Agreement entered
into between the Company and the Executive on November 14, 2003. 
  
 NOW, THEREFORE, in consideration of the foregoing, and of the respective covenants and agreements set forth below, the parties hereto agree as follows: 
  

ARTICLE I. 
 SERVICES AND TERM

  
 1.1 Term. The Company hereby employs the Executive
and the Executive accepts employment with the Company for a period expiring December 31, 2007 (the “Term”) commencing on the date hereof (the “Effective Date”). 
  
 1.2 Services. During the Term the Executive will serve as the Company’s Chief Executive Officer and President
and will be primarily responsible for overseeing the implementation of the Company’s business strategy and such other duties, commensurate with his position and authority, as are reasonably determined, from time to time, by the Company’s
Board of Directors (the “Board”). The Executive shall devote his full business time and effort to the performance of his duties hereunder and will render his services at the Company’s offices in Birmingham, Alabama (“Work
Location”), except that the Executive agrees to travel from time to time to the extent required for the performance of his duties. 
  
 ARTICLE II. 
 COMPENSATION PACKAGE

  
 2.1 Cash Compensation. 
  
 (a) Base Salary. During the Term, the Company will pay the Executive
an annual base salary of at least $550,000 for each twelve-month period of the Term. 
  
 The Executive’s base salary shall be payable in accordance with the normal payroll procedures of the Company. 
  
  

 (b) Bonus Opportunity. The Company shall maintain an incentive bonus compensation plan similar to
the Company’s 2005 Annual Bonus Plan. Such plan will include an annual base bonus target amount equal to 100% of the level of the Executive’s annual base salary; if any amount of such bonus is payable under the terms of a plan, it shall be
in addition to Executive’s annual base salary. The actual amount of any bonus payable to Executive in any year shall be determined by the Board based upon performance criteria set forth in advance under the bonus plan and Executive’s
achievement of such performance criteria. 
  
 (c) Withholding
and Deferrals. All base salary and bonus payable under this Section 2.1 shall be reduced by (i) any income tax or other legally required withholding by the Company, (ii) any elective deferrals of such amounts as contributions to qualified and
non-qualified retirement plans or deferred compensation plans of the Company, if any, and (iii) contributions payable by Executive with respect to his participation in Company welfare benefit and retirement and savings plans. 
  
 2.2 Benefits and Fringes and Other Fringe Benefits. 
  
 (a) Benefit Plans. During the Term, the Executive shall be eligible
to participate in such medical, dental, health, retirement, savings, welfare and life and disability insurance plans (including supplemental retirement and savings plans) generally made available from time to time to senior executives of the Company
(subject to their terms), and to receive other fringe benefits on terms and conditions that are at least as favorable as the fringe benefits generally provided to other senior executives of the Company at the time such other fringe benefits, if any,
are made available to them. 
  
 (b) Vacation and Other Paid
Leave. During the Term, the Executive shall be entitled to paid vacation time and other paid leaves, whether for holidays, illnesses or similar purposes, in accordance with the plans, practices, policies and programs applicable to other senior
executives of the Company. 
  
 (c) Business Expenses. The
Company will promptly pay or reimburse the Executive for all reasonable business-related expenses incurred by him in connection with the performance of his duties hereunder upon presentation of written documentation, subject, however, to the
Company’s reasonable policies relating to business-related expenses as then in effect from time to time. 
  
 (d) Date of Hire. For determination of benefits to which the Executive is entitled, including but not limited to those described in Sections
2.2(a) and 2.2(b), the Executive’s Date of Hire shall be the first date of his employment with a subsidiary of either the Company or American Financial Group, Inc. 
  
 2.3 Indemnification. The Company shall indemnify Executive (and his successors), to the extent
permitted by applicable law and the Company’s regulations. 
  
 2.4 Current Incentive Plan Nothing contained herein shall reduce in any way payments to which Executive may be entitled under annual bonus plans and/or long term incentive plans sponsored by the Company or its
subsidiaries. 

 ARTICLE III. 
 TERMINATION OF SERVICES 
  
 3.1 Termination. Executive’s employment with the Company hereunder may be terminated by the Company or the Executive, as applicable, at any time prior to the end of the Term for any of the following reasons: 
  
 (a) Disability. Upon the failure of the Executive to render services
to the Company for a continuous period of six (6) months because of the Executive’s physical or mental disability or illness (“Disability”), the Company may terminate the Executive’s employment hereunder, provided such
termination does not otherwise violate applicable law. If there should be a dispute between the parties as to the Executive’s physical or mental disability, such dispute shall be settled by the opinion of an impartial reputable physician agreed
upon for such purpose by the parties or their representatives. The certificate of such physician as to the matter in dispute shall be final and binding on the parties. 
  
 (b) Cause. The Company may terminate this Agreement and the Executive’s employment hereunder for Cause. For
purposes of this Agreement, “Cause” shall mean: (i) any act of material insubordination on the part of Executive; (ii) the engaging by the Executive in misconduct, including but not limited to any type of sexual harassment which is
materially and demonstrably injurious to the Company or any of its divisions, subsidiaries or affiliates, monetarily or otherwise; (iii) any conviction of, or plea of guilty or nolo contendere to, the Executive with respect to a felony
(other than a traffic violation); or (iv) the commission (or attempted commission) of any act of fraud or dishonesty by the Executive which is materially detrimental to the business or reputation of the Company or any of its divisions, subsidiaries
or affiliates. The right of the Company to terminate this Agreement for “Cause,” shall be distinct from, and shall not limit any remedies available under law to the Company for a material breach by the Executive of his obligations under
this Agreement (“Material Breach”). 
  
 (c) Without
Cause. 
  
 (i) The Company may terminate the
Executive’s employment hereunder without Cause upon thirty (30) days written notice to the Executive. 
  
 (ii) The Executive may terminate his employment upon thirty (30) days notice for Good Reason, as defined as follows: 
  
 “Good Reason” for termination by the Executive of
the Executive’s employment shall mean the occurrence (without the Executive’s express written consent), of any one of the following acts by the Company, or failures by the Company to act: 
  

	 	(I)	 the assignment to the Executive of any duties inconsistent with the Executive’s status as the chief executive officer of the Company (including by reason of
the Company becoming a subsidiary, or under the control, of a company not an affiliate of the Company as of the date hereof) or an 

	 	 
adverse alteration or diminution in the nature or status of the Executive’s title or his responsibilities or authority from those in effect as of the
date hereof; 

  

	 	(II)	a reduction by the Company in the Executive’s annual base salary or target annual bonus opportunity as set forth in the Agreement or as the same may thereafter be increased
from time to time, or a failure to provide the Executive with participation in any stock option or other equity-based plan in which other employees of the Company (and any parent, surviving or acquiring company) participate on a basis that does not
unreasonably discriminate against the Executive as compared to such other employees who have similar levels of responsibility and compensation; 

  

	 	(III)	the relocation of the Executive’s principal place of employment to a location more than 50 miles from the Executive’s principal place of employment as of the date hereof,
except for required travel on the Company’s business to an extent substantially consistent with the Executive’s business travel obligations as of the date hereof; 

  

	 	(IV)	any material breach by the Company of its obligations under this Agreement. 

  
 The Executive’s right to terminate the Executive’s employment for Good Reason shall not be affected by the Executive’s incapacity due to
physical or mental illness. Except as provided above, the Executive’s continued employment shall not constitute consent to, or a waiver of rights with respect to, any act or failure to act constituting Good Reason hereunder. The Executive may
resign for Good Reason only if such Executive provides Notice of Termination to the Company within three months of the Executive becoming aware that the basis for such Good Reason exists. 
  
 (d) Death. The Executive’s employment hereunder shall automatically terminate on the death of the Executive.

  
 3.2 Payment on Termination with Cause. In the event
that Executive’s employment is terminated by the Company with Cause, Executive shall be entitled to receive the following payments not later than twenty business days after the date of termination: 
  
 (a) payment of any earned but unpaid salary accrued through and including
the date of termination; 
  
 (b) payment of accrued, but unused,
vacation time; and 
  
 (c) reimbursement of any unreimbursed
business expenses incurred prior to the date of termination. 

 3.3 Payment on Termination Without Cause. Subject to the Executive’s continuing compliance
with the covenants contained in Article IV of this Agreement (the “Covenants”) and the execution by the Executive of a customary binding general waiver and release of claims (the “Release”), in the event that the Executive’s
employment is terminated by the Company without Cause or by the Executive for Good Reason, then the Executive, or the Executive’s estate in the event of his death, shall be entitled to receive the following less any required withholdings:

  
 (a) payment of any earned, but unpaid salary accrued through
and including the date of termination; 
  
 (b) payment of (i) any
earned but unpaid annual bonus from a previous calendar year and (ii) any earned but unpaid amounts that may be paid under any company long term incentive plans to be paid according to the terms of such plans; 
  
 (c) (i) payment of the Executive’s target annual bonus amounts pursuant
to Section 2.1(b), pro-rated based on the actual number of days elapsed in the year in which Executive’s termination takes place; and (ii) payment of two times the target annual bonus amount, such payments to be made in a lump sum subject to
federal, state and applicable withholding taxes and payments. 
  
 (d) continued payment of his most recent salary for a period of twenty- four (24) months from the date of termination; 
  
 (e) payment of accrued, but unused, vacation time; 
  
 (f) reimbursement of any unreimbursed business expenses, or automobile expenses incurred prior to the date of termination; 
  
 (g) for twenty-four (24) months, the Company shall continue to provide, at
its sole cost and expense, Executive and his eligible dependents with all benefit plans and other fringe benefits as described in Section 2.2(a) that were being provided to the Executive immediately prior to his termination of employment upon the
same terms and conditions as provided to other senior executives; after twenty-four (24) months, Executive and his eligible dependents shall be eligible for COBRA benefits for eighteen (18) months; 
  
 (h) immediate, 100% vesting of any stock options issued to Executive under
the Company’s 2002 Stock Option Plan and an allowance that such options may be exercised within three (3) years of his termination date; and 
  
 (i) immediate, 100% vesting of all restricted shares awarded pursuant to the Company’s Restricted Stock Plan; and 
  
 (j) immediate conversion to cash of all Performance Units issued under the
2005 Long Term Incentive Compensation Plan, without proration, and at a value equal to the base case target established under the LTIC Matrix. 

 3.4 Payment on Termination Due to Death or Disability. Company shall make the following payments
in the event of Executive’s Death (to his estate) or Disability (as defined in Section 3.1(a) of this Agreement): the payments set forth in Sections 3.3(a), (b), (c) (d), (e) and (f). In the event of Death following Disability, amounts
remaining to be paid under this section shall be paid to Executive’s estate. 
  
 ARTICLE IV. 
 COVENANTS 
  
 4.1 Non-Competition. The Executive covenants and agrees that (i) during the Term or (ii) for a period of twenty-four
(24) months following a termination of his employment by the Company pursuant to Section 3.1 (c) (the “Post-Termination Period”), he shall not directly or indirectly own an interest in, operate, join, control, advise, consult to, work for,
serve as a director or manager of, have a financial interest, or participate in any corporation, partnership, proprietorship, firm, association, person, or other entity that engages or is planning to be engaged in writing, issuing, underwriting,
selling, distributing or re-insuring personal property and casualty insurance products or any other business in which the Company is engaged during the Term (the “Business”). This Covenant applies to each state or territory in which the
Company is doing business or is making an active effort to do business during the Term and with respect to the Executive’s covenants regarding the Post-Termination Period at the time the Executive’s employment with the Company is
terminated. This Covenant does not prohibit the passive ownership of less than five percent (5%) of the outstanding stock or debt of any public corporation as long as the Executive is not otherwise in violation of this Covenant. 
  
 4.2 No Diversion. The Executive covenants and agrees that (i) during
the Term and (ii) the Post-Termination Period, he shall not divert or attempt to divert or take advantage of or attempt to take advantage of any actual or potential business opportunities of the Company (e.g., writing, issuing, underwriting,
selling, distributing or re-insuring personal property and casualty insurance products, investment opportunities, and other similar opportunities) which the Executive became aware of during his employment with the Company. 
  
 4.3 Non-Recruitment. The Executive agrees that the Company has
invested substantial time and effort in assembling its present workforce. Accordingly, the Executive covenants and agrees that during the Term and the Post-Termination Period, he shall not directly or indirectly entice or solicit (other than
pursuant to general, non-targeted public media advertisements) or seek to induce or influence any of the Company’s Employees to leave their employment. 
  
 4.4 Non-Disclosure. Prior to and in connection with this Agreement, Executive has learned and will continue to learn trade secrets and
confidential information of Company, including but not limited to (i) financial information, (ii) business methods and techniques, including but not limited to sales methods, prospecting methods, methods of presentation, programs and other materials
used or to be used by Company in managing, marketing or furthering it’s business, (iii) insureds and agent’s names, addresses and contact and other information, (iv) all other information about Company’s business that is not known to
the public and gives Company an opportunity to obtain an advantage over competitors (“Confidential Information”). Executive acknowledges that Company has invested substantial sums in the development of its Confidential Information.

 During the term of this Agreement, and after the termination of Executive’s employment for any
reason, Executive covenants and agrees that he will not, directly or indirectly, disclose or communicate to any person or entity or otherwise use any Confidential Information of Company (“Non-Disclosure Covenant”) for any purpose other
than for the direct benefit of Company. Upon termination of Executive’s employment, he shall promptly return to Company all documents, records, notebooks, manuals, disks, software, hardware and other information of Company. 
  
 This Non-Disclosure Covenant has no temporal, geographic or territorial
restrictions or limitations and applies no matter where Executive may be located in the future. 
  
 4.5 Termination for Cause or Material Breach. Executive agrees that if his employment is terminated for Cause or Material Breach pursuant to
Section 3.1 (b), he shall be bound to the covenants set forth in Sections 4.2, 4.3 and 4.4 for the duration of the Post-Termination Period, and, in the case of a Material Breach, to the covenants in Section 4.1, for a period of six months following
termination of the employment relationship. 
  
 4.6
Remedies. The Executive acknowledges that should he violate any of the Covenants, it will be difficult to determine the resulting damages to the Company and, in addition to any other remedies it may have, and notwithstanding the provisions of
Section 5.4, the Company shall be entitled to temporary injunctive relief without being required to post a bond and permanent injunctive relief without the necessity of proving actual damage. The Company may elect to seek one or more of these
remedies at its sole discretion on a case by case basis. Failure to seek any or all remedies in one case does not restrict the Company from seeking any remedies in another situation. Such action by the Company shall not constitute a waiver of any of
its rights. 
  
 4.7 Severability and Modification of Any
Unenforceable Covenant. It is the parties’ intent that each of the Covenants be read and interpreted with every reasonable inference given to its enforceability. However, without limiting the generality of Section 5.5 herewith, it is also
the parties’ intent that if any term, provision or condition of the Covenants is held to be invalid, void or unenforceable, the remainder of the provisions thereof shall remain in full force and effect and shall in no way be affected, impaired
or invalidated. Finally, it is also the parties’ intent that if it is determined any of the Covenants are unenforceable because of over breadth, then the covenant shall be modified so as to make it reasonable and enforceable under the
prevailing circumstances. 
  
 4.8 Tolling. In the event of
the breach by Executive of any Covenant the running of the period of restriction shall be automatically tolled and suspended for the amount of time that the breach continues, and shall automatically recommence when the breach is remedied so that the
Company shall receive the benefit of Executive’s compliance with the Covenants. This paragraph shall not apply to any period for which the Company is awarded and receives actual monetary damages for breach by the Executive of a Covenant with
respect to which this paragraph applies. 

 ARTICLE V. 
 MISCELLANEOUS 
  
 5.1
Successors. This Agreement shall inure to the benefit of the Company and its successors and assigns, as applicable and to the benefit of Executive’s personal or legal representatives, executors, administrators or heirs. If the Company
shall merge or consolidate with or into, or transfer substantially all of its assets, including goodwill, to another corporation or other form of business organization, this Agreement shall be binding on, and run to the benefit of, the successor of
the Company resulting from such merger, consolidation, or transfer. The Executive shall not assign, pledge, or encumber his interest in this Agreement, or any part thereof, without the prior written consent of the Company, and any such attempt to
assign, pledge or encumber any interest in this Agreement shall be null and void and shall have no effect whatsoever. 
  
 5.2 Governing Law. This Agreement is being made and executed in and is intended to be performed in the State of Ohio and shall be governed,
construed, interpreted and enforced in accordance with the substantive laws of the State of Ohio, without regard to the conflict of laws principles thereof. 
  
 5.3 Entire Agreement. This Agreement comprises the entire agreement between the parties hereto relating to the subject matter hereof and as of the
Commencement Date, supersedes, cancels and annuls all previous agreements between the Company (and/or its predecessors) and the Executive, as the same may have been amended or modified, and any right of the Executive thereunder other than for
compensation accrued thereunder as of the date hereof, and supersedes, cancels and annuls all other prior written and oral agreements between the Executive and the Company or any predecessor to the Company. The terms of this Agreement are intended
by the parties to be the final expression of their agreement with respect to the employment of the Executive by the Company and may not be contradicted by evidence of any prior or contemporaneous agreement. 
  
 5.4 Disputes. 
  
 (a) Any dispute or controversy arising under, out of, in connection with or
in relation to this Agreement, including any claims for discrimination or other similar violation of federal law, shall be finally determined and settled by arbitration in Jefferson County, Alabama, in accordance with the rules and procedures of the
American Arbitration Association, and judgment upon the award may be entered in any court having jurisdiction thereof. 
  
 (b) If any arbitration or other proceeding is brought for the enforcement of this Agreement, or because of an alleged dispute, breach, default or
misrepresentation in connection with any of the provisions of this Agreement, the prevailing party shall be entitled to recover reasonable attorneys’ fees and other costs incurred in that action or proceeding, in addition to any other relief
that may be granted. 
  
 5.5 Severability; Enforceability.
If any provision of this Agreement, or the application thereof to any person, place, or circumstance, shall be held to be invalid, 

 
unenforceable, or void by the final determination of a court of competent jurisdiction in any jurisdiction and all appeals therefrom shall have failed or the
time for such appeals shall have expired, as to that jurisdiction and subject to this Section 5.5, such clause or provision shall be deemed eliminated from this Agreement but the remaining provisions shall nevertheless be given full force and
effect. In the event this Agreement or any portion hereof is more restrictive than permitted by the law of the jurisdiction in which enforcement is sought, this Agreement or such portion shall be limited in that jurisdiction only, and shall be
enforced in that jurisdiction as so limited to the maximum extent permitted by the law of that jurisdiction. 
  
 5.6 Counterparts. This Agreement may be executed by facsimile and in several counterparts, each of which shall be deemed to be an original, but all
of which together will constitute one and the same Agreement. 
  
 5.7 Amendments; Waivers. This Agreement may not be modified, amended, or terminated except by an instrument in writing, approved by the Board and signed by the Executive and the Company. By an instrument in writing similarly
executed, the Executive or the Company may, with the approval of the Board, waive compliance by the other party or parties with any provision of this Agreement that such other party was or is obligated to comply with or perform; provided,
however, that such waiver shall not operate as a waiver of, or estoppel with respect to, any other or subsequent failure. No failure to exercise and no delay in exercising any right, remedy or power hereunder shall preclude any other or further
exercise of any other right, remedy or power provided herein or by law or in equity. 
  
 5.8 No Inconsistent Actions. The parties hereto shall not voluntarily undertake any action inconsistent with, or voluntarily undertake or fail to undertake any action or course of action to avoid or evade, the
provisions or essential intent of this Agreement. Furthermore, it is the intent of the parties hereto to act in a fair and reasonable manner with respect to the interpretation and application of the provisions of this Agreement. 
  
 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date
and year first above written. 
  

							
	 INFINITY PROPERTY AND CASUALTY
 CORPORATION
	  	 	 	 EXECUTIVE

				
	 By:
	  	 /s/ Samuel J. Simon

	  	 	 	 /s/ James R. Gober

	 Name:
	  	 Samuel J. Simon
	  	 	 	 James R. Gober

	 Title:
	  	 Senior Vice President

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