Document:

<PAGE>

                                                                 EXHIBIT 10.1

                CERTIFICATE OF AMENDMENT TO CERTIFICATE OF TRUST
                                       OF
                   ZENITH NATIONAL INSURANCE CAPITAL TRUST I

          On June 30, 1998, a Certificate of Trust (the "Certificate of Trust"),
forming Zenith National Insurance Capital Trust I (the "Trust") as a business
trust under the Delaware Business Trust Act (12 Del. C. section 3801 ET. SEQ.),
was filed with the Secretary of State, State of Delaware.

          This Certificate of Amendment constitutes notice of a change in the
Regular Trustees of the Trust, namely, that effective March 1, 2000, Fredricka
Taubitz ceased being a Regular Trustee and William J. Owen was appointed to
replace her. In all other respects, the Certificate of Trust remains unchanged
and is expressly reaffirmed.

IN WITNESS WHEREOF, the undersigned have executed this Certificate of Amendment
as of March 1, 2000.

WILMINGTON TRUST COMPANY,                 NORWEST BANK MINNESOTA,
     not in its individual capacity         NATIONAL ASSOCIATION
     but solely as Delaware Trustee            not in its individual capacity
                                               but solely as Property Trustee

By: /s/ ROSEMARY PANTANO                  By: /s/ JANE Y. SCHWEIGER
   ------------------------------------      ----------------------------------
     Name: Rosemary Pantano                    Name: Jane Y. Schweiger
          -----------------------------             ---------------------------
     Title: Financial Services Officer         Title: Corporate Trust Officer
          -----------------------------             ---------------------------

   /s/ STANLEY R. ZAX                        /s/ WILLIAM J. OWEN
   ------------------------------------      ----------------------------------
   STANLEY R. ZAX                            WILLIAM J. OWEN
     not in his individual capacity            not in his individual capacity
     but solely as Regular Trustee             but solely as Regular Trustee

   /s/ FREDRICKA TAUBITZ
   ------------------------------------
   FREDRICKA TAUBITZ
     not in her individual capacity
     but solely as withdrawing Regular
     Trustee<PAGE>

                                                                   EXHIBIT 10.2

[CITY NATIONAL BANK LOGO]

                               PROMISSORY NOTE

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------
   PRINCIPAL        LOAN DATE       MATURITY     LOAN NO.     CALL   COLLATERAL    ACCOUNT   OFFICER   INITIALS
---------------------------------------------------------------------------------------------------------------
<S>                <C>             <C>           <C>          <C>    <C>           <C>       <C>       <C>
$20,000,000.00     07-03-2000      07-01-2001     11552                            209600      FB
---------------------------------------------------------------------------------------------------------------
     References in the shaded area are for Lender's use only and do not limit the applicability of this
                                   document to any particular loan or item.

               Any item above containing "***" has been omitted due to text length limitations.

BORROWER: ZENITH NATIONAL INSURANCE CORP., A                 LENDER: CITY NATIONAL BANK, NA
          DELAWARE CORPORATION                                       WESTSIDE COMMERCIAL BANKING CENTER #674000
          21255 CALIFA STREET                                        400 NORTH ROXBURY DRIVE
          WOODLAND HILLS, CA  91436                                  BEVERLY HILLS, CA  90210
===============================================================================================================
</TABLE>

PRINCIPAL AMOUNT: $20,000,000.00                     DATE OF NOTE: JULY 3, 2000

                                INITIAL RATE: 9.500%

PROMISE TO PAY. ZENITH NATIONAL INSURANCE CORP., A DELAWARE CORPORATION
("BORROWER") PROMISES TO PAY TO CITY NATIONAL BANK, NA ("LENDER"), OR ORDER,
IN LAWFUL MONEY OF THE UNITED STATES OF AMERICA, THE PRINCIPAL AMOUNT OF
TWENTY MILLION & 00/100 DOLLARS ($20,000,000.00) OR SO MUCH AS MAY BE
OUTSTANDING, TOGETHER WITH INTEREST ON THE UNPAID OUTSTANDING PRINCIPAL
BALANCE OF EACH ADVANCE. INTEREST SHALL BE CALCULATED FROM THE DATE OF EACH
ADVANCE UNTIL REPAYMENT OF EACH ADVANCE.

PAYMENT. BORROWER WILL PAY THIS LOAN IN ONE PAYMENT OF ALL OUTSTANDING
PRINCIPAL PLUS ALL ACCRUED UNPAID INTEREST ON JULY 1, 2001. IN ADDITION,
BORROWER WILL PAY REGULAR MONTHLY PAYMENTS OF ALL ACCRUED UNPAID INTEREST DUE
AS OF EACH PAYMENT DATE, BEGINNING AUGUST 1, 2000, WITH ALL SUBSEQUENT
INTEREST PAYMENTS TO BE DUE ON THE SAME DAY OF EACH MONTH AFTER THAT. UNLESS
OTHERWISE AGREED OR REQUIRED BY APPLICABLE LAW, PAYMENTS WILL BE APPLIED
FIRST TO ACCRUED UNPAID INTEREST, THEN TO PRINCIPAL, AND ANY REMAINING AMOUNT
TO ANY UNPAID COLLECTION COSTS. THE ANNUAL INTEREST RATE FOR THIS NOTE IS
COMPUTED ON A 365/360 BASIS; THAT IS, BY APPLYING THE RATIO OF THE ANNUAL
INTEREST RATE OVER A YEAR OF 360 DAYS, MULTIPLIED BY THE OUTSTANDING
PRINCIPAL BALANCE, MULTIPLIED BY THE ACTUAL NUMBER OF DAYS THE PRINCIPAL
BALANCE IS OUTSTANDING. Borrower will pay Lender at Lender's address shown
above or at such other place as Lender may designate in writing.

VARIABLE INTEREST RATE. The interest rate on this Note is subject to change
from time to time based on changes in an index which is the City National
Bank Prime Rate (the "Index"). Prime Rate shall mean the rate most recently
announced by Lender at its principal office in Beverly Hills, California, as
its "Prime Rate". Any change in the Prime Rate shall become effective on the
same business day on which the Prime Rate shall change, without prior notice
to Borrower. Lender will tell Borrower the current Index rate upon Borrower's
request. The interest rate change will not occur more often than each day.
Borrower understands that Lender may make loans based on other rates as well.
THE INDEX CURRENTLY IS 9.500%. THE INTEREST RATE TO BE APPLIED TO THE UNPAID
PRINCIPAL BALANCE OF THIS NOTE WILL BE AT A RATE EQUAL TO THE INDEX,
RESULTING IN AN INITIAL RATE OF 9.500%. NOTICE: Under no circumstances will
the interest rate on this Note be more than the maximum rate allowed by
applicable law.

PREPAYMENT; MINIMUM INTEREST CHARGE. Borrower agrees that all loan fees and
other prepaid finance charges are earned fully as of the date of the loan and
will not be subject to refund upon early payment (whether voluntary or as a
result of default), except as otherwise required by law. In any event, even
upon full prepayment of this Note, Borrower understands that Lender is
entitled to a MINIMUM INTEREST CHARGE OF $100.00. Other than Borrower's
obligation to pay any minimum interest charge, Borrower may pay without
penalty all or a portion of the amount owed earlier than it is due. Early
payments will not, unless agreed to by Lender in writing, relieve Borrower of
Borrower's obligation to continue to make payments of accrued unpaid
interest. Rather, early payments will reduce the principal balance due.
Borrower agrees not to send Lender payments marked "paid in full", "without
recourse", or similar language. If Borrower sends such a payment, Lender may
accept it without losing any of Lender's rights under this Note, and Borrower
will remain obligated to pay any further amount owed to Lender. All written
communications concerning disputed amounts, including any check or other
payment instrument that indicates that the payment constitutes "payment in
full" of the amount owed or that is tendered with other conditions or
limitations or as full satisfaction of a disputed amount must be mailed or
delivered to: City National Bank, NA; Westside Commercial Banking Center
#674000; 400 North Roxbury Drive; Beverly Hills, CA 90210.

INTEREST AFTER DEFAULT. Upon Borrower's failure to pay all amounts declared
due pursuant to this section, including failure to pay upon final maturity,
Lender, at its option, may, if permitted under applicable law, increase the
variable interest rate on this Note to 5.000 percentage points over the Index.

DEFAULT. Each of the following shall constitute an event of default ("Event
of Default") under this Note:

          PAYMENT DEFAULT. Borrower fails to make any payment when due under
          this Note.

          OTHER DEFAULTS. Borrower fails to comply with or to perform any
          other term, obligation, covenant or condition contained in this
          Note or in any of the related documents or to comply with or to
          perform any term, obligation, covenant or condition contained in
          any other agreement between Lender and Borrower.

          DEFAULT IN FAVOR OF THIRD PARTIES. Borrower or any Grantor defaults
          under any loan, extension of credit, security agreement, purchase
          or sales agreement, or any other agreement, in favor of any other
          creditor or person that may materially affect Borrower's property
          or Borrower's ability to repay this Note or perform Borrower's
          obligations under this Note or any of the related documents.

          FALSE STATEMENTS. Any warranty, representation or statement made or
          furnished to Lender by Borrower or on Borrower's behalf under this
          Note or the related documents is false or misleading in any
          material respect, either now or at the time made or furnished or
          becomes false or misleading at any time thereafter.

          INSOLVENCY. The dissolution or termination of Borrower's existence
          as a going business, the insolvency of Borrower, the appointment
          of a receiver for any part of Borrower's property, any assignment
          for the benefit of creditors, any type of creditor workout, or the
          commencement of any proceeding under any bankruptcy or insolvency
          laws by or against Borrower.

          CREDITOR OR FORFEITURE PROCEEDINGS. Commencement of foreclosure or
          forfeiture proceedings, whether by judicial proceeding, self-help,
          repossession or any other method, by any creditor of Borrower or by
          any governmental agency against any collateral securing the loan.
          This includes a garnishment of any of Borrower's accounts,
          including deposit accounts, with Lender. However, this Event of
          Default shall not apply if there is a good faith dispute by
          Borrower as to the validity or reasonableness of the claim which is
          the basis of the creditor or forfeiture proceeding and if Borrower
          gives Lender written notice of the creditor or forfeiture
          proceeding and deposits with Lender monies or a surety bond for the
          creditor or forfeiture proceeding, in an amount determined by
          Lender, in its sole discretion, as being an adequate reserve or
          bond for the dispute.

          EVENTS AFFECTING GUARANTOR. Any of the preceding events occurs with
          respect to any guarantor, endorser, surety, or accommodation party
          of any of the indebtedness or any guarantor, endorser, surety, or
          accommodation party dies or becomes incompetent, or revokes or

<PAGE>

                               PROMISSORY NOTE
                                 (CONTINUED)
                                                                         PAGE 2

===============================================================================

          disputes the validity of, or liability under, any guaranty of the
          indebtedness.

          CHANGE IN OWNERSHIP. Any change in ownership of twenty-five
          percent (25%) or more of the common stock of Borrower, at one time.

          ADVERSE CHANGE. A material adverse change occurs in Borrower's
          financial condition, or Lender believes the prospect of payment
          or performance of this Note is impaired.

          INSECURITY. Lender in good faith believes itself insecure.

LENDER'S RIGHTS. Upon default, Lender may declare the entire unpaid principal
balance on this Note and all accrued unpaid interest immediately due, and
then Borrower will pay that amount.

ATTORNEYS' FEES; EXPENSES. Lender may hire or pay someone else to help
collect the loan if Borrower does not pay. Borrower will pay Lender that
amount. This includes, subject to any limits under applicable law, Lender's
attorneys' fees and Lender's legal expenses, whether or not there is a
lawsuit, including attorneys' fees, expenses for bankruptcy proceedings
(including efforts to modify or vacate any automatic stay or injunction), and
appeals. Borrower also will pay any court costs, in addition to all other
sums provided by law.

GOVERNING LAW. THIS NOTE WILL BE GOVERNED BY, CONSTRUED AND ENFORCED IN
ACCORDANCE WITH FEDERAL LAW AND THE LAWS OF THE STATE OF CALIFORNIA. THIS
NOTE HAS BEEN ACCEPTED BY LENDER IN THE STATE OF CALIFORNIA.

CHOICE OF VENUE. If there is a lawsuit, Borrower agrees upon Lender's request
to submit to the jurisdiction of the courts of LOS ANGELES County, State of
California.

RIGHT OF SETOFF. To the extent permitted by applicable law, Lender reserves a
right of setoff in all Borrower's accounts with Lender (whether checking,
savings, or some other account). This includes all accounts Borrower holds
jointly with someone else and all accounts Borrower may open in the future.
However, this does not include any IRA or Keogh accounts, or any trust
accounts for which setoff would be prohibited by law. Borrower authorizes
Lender, to the extent permitted by applicable law, to charge or setoff all
sums owing on the Indebtedness against any and all such accounts.

LINE OF CREDIT. This Note evidences a revolving line of credit. Advances
under this Note may be requested either orally or in writing by Borrower or
as provided in this paragraph. Lender may, but need not, require that all
oral requests be confirmed in writing. All communications, instructions, or
directions by telephone or otherwise to Lender are to be directed to
Lender's office shown above. The following person currently is authorized to
request advances and authorize payments under the line of credit until Lender
receives from Borrower, at Lender's address shown above, written notice of
revocation of his or her authority: STANLEY R. ZAX, CHAIRMAN OF THE
BOARD/PRESIDENT OF ZENITH NATIONAL INSURANCE CORP., A DELAWARE CORPORATION.*
Borrower agrees to be liable for all sums either: (A) advanced in accordance
with the instructions of an authorized person or (B) credited to any of
Borrower's accounts with Lender. The unpaid principal balance owing on this
Note at any time may be evidenced by endorsements on this Note or by Lender's
internal records, including daily computer print-outs. Lender will have no
obligation to advance funds under this Note if: (A) Borrower or any
guarantor is in default under the terms of this Note or any agreement that
Borrower or any guarantor has with Lender, including any agreement made in
connection with the signing of this Note; (B) Borrower or any guarantor
ceases doing business or is insolvent; (C) any guarantor seeks, claims or
otherwise attempts to limit, modify or revoke such guarantor's guarantee of
this Note or any other loan with Lender; (D) Borrower has applied funds
provided pursuant to this Note for purposes other than those authorized by
Lender; or (E) Lender in good faith believes itself insecure.

<PAGE>

SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower,
and upon Borrower's heirs, personal representatives, successors and assigns,
and shall inure to the benefit of Lender and Lender's successors and assigns.

GENERAL PROVISIONS. Lender may delay or forgo enforcing any of its rights or
remedies under this Note without losing them. Borrower and any other person
who signs, guarantees or endorses this Note, to the extent allowed by law,
waive any applicable statute of limitations, presentment, demand for payment,
and notice of dishonor. Upon any change in the terms of this Note, and unless
otherwise expressly stated in writing, no party who signs this Note, whether
as maker, guarantor, accommodation maker or endorser, shall be released from
liability. All such parties agree that Lender may renew or extend (repeatedly
and for any length of time) this loan or release any party or guarantor or
collateral; or impair, fail to realize upon or perfect Lender's security
interest in the collateral; and take any other action deemed necessary by
Lender without the consent of or notice to anyone. All such parties also
agree that Lender may modify this loan without the consent of or notice to
anyone other than the party with whom the modification is made. The
obligations under this Note are joint and several.

PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS
OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER
AGREES TO THE TERMS OF THE NOTE.

BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE.

                                      * or William J. Owen, Sr. VP &
                                        CFO or Sarah A. Tracy,
                                        Assistant Treasurer

BORROWER:

ZENITH NATIONAL INSURANCE CORP., A DELAWARE CORPORATION

BY: /s/ STANLEY R. ZAX
   -------------------------------------------
    STANLEY R. ZAX, CHRMN BRD/PRESIDENT OF
    ZENITH NATIONAL INSURANCE CORP., A
    DELAWARE CORPORATION

===============================================================================

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