Document:

EXHIBIT 10.9

CERTAIN IDENTIFIED
INFORMATION HAS BEEN EXCLUDED FROM THE EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE
REGISTRANT IF PUBLICLY DISCLOSED.

[***] INDICATES
THAT INFORMATION HAS BEEN REDACTED.

 

SURPLUS LINE
BROKER AGREEMENT

 

THIS Surplus Lines
Broker Agreement (the “Agreement") dated as of April 1, 2020, and effective as of April 1, 2020 (“Effective Date”),
is made by and between UNITED SPECIALTY INSURANCE COMPANY, an insurer domiciled in Delaware with principal offices in Bedford,
Texas ("Company") and UNIFAX INSURANCE SYSTEMS, INC., a California corporation with principal offices in Calabasas, California
and which is licensed as a surplus lines broker in California and other states ("Broker").

RECITALS

A.       The
Company is an approved surplus lines insurer in the State of California and is an eligible surplus line insurer in the other states
and District of Columbia.

B.       The
Broker is licensed as a surplus lines broker in the states of Arizona, California, Oregon and Washington and may place business
with a surplus line insurer for home state residents of those states where they are licensed.

C.       The
Company desires to appoint the Broker as a broker of the Company on the terms and conditions specified in this Agreement and the
Broker desires to be appointed as a broker of the Company to perform all functions necessary for the production, service, and management
of the business placed hereunder. Concurrently with this Agreement, the Company is entering into a Quota Share Reinsurance Agreement
(the “Reinsurance Agreement”) effective the Effective Date with Crusader Insurance Company (the “Reinsurer”),
and the contractual assumption by the Reinsurer in the Reinsurance Agreement of the risks of the polices placed pursuant to this
Agreement is a condition precedent to the Company's entering into this Agreement with the Broker.

D.       Pursuant
to this Agreement, the Broker is authorized to act as a surplus lines broker for and on behalf of the Company and as the agent
of the Company for purposes of administering the business produced by the Broker, insured by the Company and reinsured with the
Reinsurer, pursuant to the terms and conditions of this Agreement.

NOW, THEREFORE, in consideration
of the recitals and for other good and valuable consideration, the receipt and sufficiency of which is acknowledged, the parties
agree as follows:

ARTICLE I

AUTHORIZATION, AUTHORITY AND DUTIES

1.01      
Authorization: The Company hereby authorizes the Broker to act as its broker and agent for the purpose of producing
and administering the business specified in Section 1.03 of this Agreement, which is the subject of the Reinsurance Agreement,
in accordance with Article I of this Agreement and the other terms set forth in this Agreement.

1.02      
Maximum Premium: The maximum amount of premiums that Broker may place with the Company during any calendar year is
[***]. The maximum amount of premiums that Broker may place with the Company during any calendar year is referred to as the “Maximum
Premium Volume” in this Agreement. Maximum Premium Volume is determined on a direct written premium basis.

1.03      
Classes of Business: The classes of business and statutory line which Broker can place with the Company are:

(a)         
Property

(b)         
General Liability

(c)         
Commercial multi-peril property (including burglary, theft, inland marine and truckers’ long haul physical damage
and truckers’ short haul physical damage)

(d)         
Commercial multi-peril liability:

(1)         
Commercial multi-peril liability (including burglary, theft, garage and fidelity, trucking, long-haul and trucking short-haul),
provided, that the Broker may not place any commercial multi-peril liability for contractors with the Company.

 

1.04      
Policy Limits: The maximum policy limits for which the Broker may place with the Company are:

	
        Lines of Business

         
	Maximum Policy Limits
	1.0	Property	
        $[***] total insurable value

         

	17.0	General Liability	
        $[***] per occurrence

        $[***] in the aggregate

         

	5.1	
        Commercial Multi-peril Property –

        burglary and theft,

        inland marine, trucking long haul physical damage,
        trucking short haul physical damage

         
	
        $[***] total insurable value

         

	5.2	
        Commercial Multi-peril Liability –

        burglary and theft,

        garage, fidelity,

        trucking, long-haul,

        trucking, short-haul
	
        $[***] per occurrence

        $[***] in the aggregate

         

 

The Broker shall
not bind the Company to amounts in excess of those stated above. At the Company’s request, the Broker in accordance with
applicable law, and policy terms, shall cancel or not renew any risk bound which is not in conformance with this Agreement.

1.05      
Eligible Jurisdictions: The Broker may place business for any home state insured in any state or jurisdiction within
the United States in which the Company is eligible to issue surplus lines insurance except Broker may not place business for any
home state insured in New York.

1.06      
Authority: The Company grants to the Broker the following authority and the Broker agrees to the duties specified:

(a)         
To solicit, receive and after underwriting review, accept applications for insurance for such classes of insurance as specified
in this Agreement.

(b)         
To obtain at the expense of the Broker underwriting information as may be necessary or desirable to underwrite the risks
to be placed with the Company, which information be obtained from consumer and insurance reporting agencies and other appropriate
sources for each risk to be insured by the Company.

(c)         
To issue, renew and countersign policies of insurance (“Policies”), certificates, endorsements and binders which
the Company may from time to time authorize to be issued, delivered renewed or countersigned on behalf of the Company for risks
placed with the Company by the Broker.

(d)         
To issue notices of cancellation for non-payment of premium, notices of cancellation or notices of non-renewal for other
reasons as may be permitted under the Policies or as otherwise permitted under applicable.

(e)         
To collect premiums on business placed with the Company and to maintain an accounting of all such premiums.

(f)          
To deduct from the premiums collected applicable commissions and expenses.

(g)         
To remit to U.S. Risk Managers, Inc. (“US Risk”), the designated claims administrator of the Company, an amount
equal to [***]% of the earned premium of the Policies, provided, however, that the fees payable to US Risk shall be paid for the
Broker from its aggregate commission.

(h)         
To incur at the sole expense of the Broker, all expenses and costs, including but not limited to salaries, bonuses, rentals,
transportation, facilities, fees of soliciting insurance producers, postage, advertising, exchange, license fees of the surplus
lines broker or its personnel, or any other expense whatsoever of the Broker, and the Company shall not be responsible for any
such expenses and costs.

(i)           
To prepare monthly reports to the Company and the Reinsurer of Policies issued, premiums received, Policies received and
such other reports as the Company or the Reinsurer may request, as further set forth in this Agreement.

(j)           
Notwithstanding anything contained in this Agreement, the Broker shall not have any authority to settle claims on Policies
whether disputed or undisputed; provided, however, the Broker may accept notifications or reports of losses or claims from a policyholder
or from the agent or broker, or a third-party claimant and shall forward those notifications or reports of losses to the Reinsurer
on behalf of the Company or to US Risk as the claims administrator of the Company. The Broker shall not negotiate, decline, accept,
pay, or otherwise commit the Company or the Reinsurer to any liability in connection with any claim or loss submitted or received
for any Policy.

1.07      
Compliance: All activities of the Broker pursuant to this Agreement shall be in strict compliance with the terms
of this Agreement and all rules, regulations and instructions of the Company, including, but not limited to, all rules, instructions
and specifications included in the Company's rate manuals, rate brochures and rate schedules.

1.08      
No Independent Authority: The Broker understands and agrees that it has no power or authority granted to it by the
Company independent of this Agreement. Notwithstanding the foregoing, the authority granted to Broker pursuant to this Agreement
shall cease immediately upon termination, for any reason, of this Agreement, except that the authority granted to the Broker may
continue after termination for such period with regard to run-off and other matters as set forth herein, including until all Policies
have expired and all claims have been extinguished, subject to Article VII hereof.

1.09      
Power to Accept or Bind Risk: The Broker shall not have the power to accept or bind risk other than as set forth
in this Agreement or as may be subsequently authorized in writing by the Company.

1.10      
No Participation in Syndicates: The Broker may not commit the Company to participation in insurance or reinsurance
syndicates. The Company hereby authorizes the Broker to collect payments for losses and loss adjustment expenses from a reinsurer.
The Broker shall send a report to the Company concerning such transactions promptly.

1.11      
Licenses in Other States: The Broker acknowledges and agrees that, with respect to any state in which business is
permitted to be written by the Company on a surplus lines basis, Broker will not place an insurance on a home state insured of
such state and this Agreement shall not become effective until the Broker is licensed in such home state as a non-resident surplus
line broker.

1.12      
Surplus Lines Obligations: It is understood and agreed by each of the parties that they understand and acknowledge
that surplus lines brokers and surplus lines insurers have certain duties and obligations under the California Insurance Code and
the regulations promulgated thereunder and that each party is responsible for compliance with those provisions of the California
Insurance Code and the regulations promulgated thereunder applicable to such party.

1.13      
Limitations on Authority: The authority and limitations of the Broker to issue Policies are as follows:

(a)         
The Maximum Annual Premium shall be as provided in Section 1.02 of this Agreement. The Maximum Annual Premium Volume may
be changed by agreement of the Company and the Broker pursuant to an amendment to this Agreement;

(b)         
the basis of the rates charged are as provided in the Company's rate manuals, rate brochures and rate schedules which Broker
agrees to follow, and the Broker shall not decrease rates or increase discounts without the prior approval of the Company;

(c)         
the only classes of business the Broker is authorized to produce and handle under this Agreement are the classes of business
specified in Section 1.03 of this Agreement, and the Broker may not bind or cede reinsurance or retrocession on behalf of the Company;

(d)         
the maximum limits of liability for Policies produced pursuant to this Agreement are set forth in Section 1.03 of this Agreement;

(e)         
the Broker may issue Policies only to home state insured residents in the states in which business is permitted to be produced
under this Agreement;

(f)          
the Broker shall only cancel policies as set forth in the policy form for the policies produced hereunder or as otherwise
permitted by applicable law;

(g)         
the maximum term for any policy issued hereunder shall be [***];

(h)         
the Broker shall employ all reasonable and appropriate measures to control and keep a record of the issuance of the Company's
insurance policies hereunder, including, but not limited to, keeping records of policy numbers issued, date of policy issuance
and name or names of insureds and to maintain policy inventories;

(i)           
the Broker shall follow the underwriting guidelines as adopted by the Company for the classes of insurance to be placed
under this Agreement;

(j)           
the Broker acknowledges that, with respect to any state in which business is permitted to be written under this Agreement,
this Agreement shall not become effective until the Broker is duly licensed with the applicable Department of Insurance if required
by applicable law; and

(k)         
the Broker understands and agrees that no business shall be produced, until a written approval of the applicable rate rules
and forms is received from the regulatory authority of competent jurisdiction, if applicable or required by statute.

1.14   
Retention of Retail Producers: Subject to Section 4.01, the Broker may retain
retail producers to market and solicit policies and to perform fieldwork and aid in the underwriting of the business that
is the subject of this Agreement. The Broker shall have the sole financial responsibility for
the payment of any commissions or other compensation or remuneration to retail producers concerning this business. The
Broker further agrees to be responsible for any required registration or appointing, as required by the appropriate regulatory
body, and the payment of any penalty assessed to the Company for any violation by the Broker or any retail producer or broker retained
by the Broker pursuant to the provisions of Article IV hereof of any license or appointment provision of the Delaware Insurance
Code or other applicable state statutes, and the rules and regulations promulgated thereunder, if applicable. 

1.15      
Taxes and Fees: The Broker shall remit to the applicable agency any surplus line premium tax, stamping fees and other
fees relating to the business placed with the Company under this Agreement.

1.16      
Filings and Reports: The Broker shall make such filings and reports as may be required with the applicable surplus
lines associations or governmental agencies of the business placed with the Company pursuant to this Agreement, including without
limitation such reports as are required by the California Department of Insurance (the “California Department”) and
the Surplus Lines Association of California.

1.17       Coverage
for Risks Bound but Not Within Terms of Agreement: In the event Broker binds the Company for insurance coverage on insurance
risks which are in excess of the policy limits set forth in this Article I, and/or are not within the terms of business specified
in this Article I, and/or are not within the territory specified in this Article I, whether intentional or not, the Broker will
do such things and take such actions as may be necessary to reduce the Company's exposure to such risks and to hold the Company
harmless against any liability or loss which may be incurred by the Company in excess hereof. At the Company's request, the Broker
in accordance with applicable law, and policy terms, shall cancel or not renew any risk bound which is not in conformance with
this Agreement. Any such insurance coverage on insurance risks bound contrary to the limitations which are in excess of the policy
limits set forth in this Article I, and/or are not within the classes of business specified in this Article I, and/or are not within
the territory specified in Article I, whether intentional or not, shall be subject to this Agreement.

ARTICLE II

PREMIUMS

2.01      
Collection of Premium: All premiums shall be handled by the Broker. The Broker shall:

(a)         
Collect premiums on business placed with the Company and maintain an accounting of all such premiums and business written.

(b)         
Place all premiums collected in a premium trust account for the benefit of the Company and the Reinsurer, which funds collected
shall be held by the Broker in a fiduciary capacity. Such premiums are the property of the Company and the Reinsurer according
to their respective interests, less such commissions and fees as are due the Broker as specified herein. The only disbursements
from such account shall be the payment of return premiums, commission due the Broker as authorized herein, and remittance of premiums
to the Reinsurer and Company. The Broker shall not make personal use of any funds in the premium trust account.

(c)         
Deduct from the premiums collected commissions payable to the Broker, return premiums.

(d)         
Remit to the Reinsurer on behalf of the Company the net written premiums collected (being defined as premiums received and/or
due the Broker from the insured in a given month less return premiums), less the Broker’s commission as set forth in Section
3.01. Should such balance be a negative amount, the Broker shall report such amount to the Reinsurer and the Reinsurer will pay
the Broker such balance as soon as possible after the end of the month, after receipt and verification of the amount due as reported
by the Broker.

2.02      
Premium Data: The Broker shall furnish to the Company and the Reinsurer all necessary premium data (in a form acceptable
to the Reinsurer and the Company) no later than thirty (30) days following the end of the month during which the business is written
are incurred to enable the Company to record statistics required by statutes, regulation or upon call by authorities having competent
jurisdiction. Such data shall include, but is not limited to, premiums written and unearned premium. Said data shall be segregated
by lines of insurance and location of risk.

2.03      
No Waiver of Trust Relation: The keeping of an account with the Broker on the Company's books as a creditor and debtor
account is declared a record memorandum of business transacted and neither such keeping of an account, nor alteration in commission
rate, nor failure to enforce prompt remittance or compromise or settlement or declaration of balance of account, shall be held
to waive assertion of the trust relation as to premiums collected by the Broker.

2.04      
Broker Liable for Payment of Premium: The Broker shall be liable for the payment of all premiums upon all Policies
placed with the Company by the Broker.

2.05      
Remittance of Funds: The Broker shall remit to the Reinsurer, or Company as applicable, any funds of or due to the
Company under this Agreement within thirty (30) days from the end of the month in which premium is recorded. Should any dispute
arise between the Company, the Reinsurer and/or the Broker regarding payment of premium, the Broker shall remit immediately all
money and property, without deductions for commissions, to the premium trust account with full reservation of any and all rights
reserved by the parties.

2.06      
Funds Held as Fiduciary: The Broker shall hold all funds of or due the Company in a fiduciary capacity.

2.07      
Funds Held as Fiduciary: The Broker shall hold all funds of or due Reinsurer in a fiduciary capacity.

ARTICLE III

COMPENSATION TO THE BROKER

3.01      
Compensation and Deductions: As full and complete compensation for Policies placed by the Broker on behalf of the
Company, the Broker shall be allowed a commission of [***]% of the premiums written for the Policies issued. The Broker shall deduct
its commission from the premiums remitted to the Company and the Reinsurer on behalf of the Company; provided, that the deduction
of such commissions from premiums should not be taken as a waiver by the Company of its exclusive ownership rights of premiums
as provided herein.

(a)         
The Broker shall pay the Company directly a fee within thirty (30) days following the end of each month, [***] of Net Premiums
and Net Policy Fees, plus the amount of assessments and state premium taxes.

(b)         
The Broker shall remit directly to Company on a monthly basis [***]% of written premium for bureau fees related to statistical
reporting, and boards and bureaus participation (“Bureau Fees”). Should the actual amount of Bureau Fees be greater
than the amount remitted to the Company on a monthly basis, the Broker shall remit such additional Bureau Fees within thirty (30)
days of receiving notice in writing from the Company of such additional Bureau Fees. In addition to the Bureau Fees, should the
Company be charged any fines or penalties for incomplete, inaccurate, or delinquent reporting, the Broker shall pay such fines
or penalties immediately upon written notice. The Bureau Fees are in addition to other fees and expenses expressly enumerated herein.

(c)         
Notwithstanding anything else contained herein to the contrary, regardless of the amount of Net Premiums, the minimum fee
due the Company shall be (i) $[***] for the first twenty-four month period after the Effective Date of this Agreement, plus the
aforementioned assessments and state premium taxes and (ii) $[***] for each twelve-month period thereafter during which the Agreement
is in effect, plus the aforementioned assessments and state premium taxes. "Net Premiums" shall mean the gross premiums
charged on all original and renewal Policies written on behalf of the Company, less return premiums (excluding policy fees). “Net
Policy Fees” shall mean gross policy fees, if any, charged on all original and renewal Policies written on behalf of the
Company, less return policy fees.

(d)         
This minimum fee shall not be affected by the amounts of Net Premiums written in other twelve-month or twenty-four month,
as applicable, and shall not be reduced by reason of payments in excess of the minimum in other periods.

(e)         
Upon termination of this Agreement, the minimum fee shall be prorated to the effective date of such termination unless there
are Policies issued after the termination of this Agreement. In such cases, the minimum fee shall continue past the termination
of this Agreement until such time as no further Policies are issued. The minimum fee for each period shall be paid within sixty
(60) days of the end of each period. For these purposes, a policy's entire premium shall be applied to the period in which the
policy is written. During the term of this Agreement, the Broker shall be allowed to pay the fee payable to the Company under this
Section 3.01 on the basis of premiums written; provided, however, that the Broker shall remain liable for the full amount of the
fee (i.e., based on premiums written) as specified above.

(f)          
The Broker shall allow and pay within thirty (30) days of the end of each month to the Company an amount equal to the state
premium tax on the Net Premiums and Net Policy Fees for Policies issued for the past month. Should any additional premium tax be
assessed at any time on the Net Premiums and Net Policy Fees, Broker shall pay the Company such additional premium tax within thirty
(30) days of being informed by the Company of such additional premium tax. The Parties acknowledge that at the effective date of
this Agreement, the applicable Departments of Insurance (or other state agency responsible for collecting premium taxes) may require
the payment of estimated premium taxes in advance on a semi-annual basis. The Broker shall, therefore, pay to the Company within
five days prior to the due date of any such estimated premium tax payment, the amount that would be due based upon the business
produced hereunder. The Broker shall also be responsible for the filing and payment of any and all other applicable taxes including,
but not limited to, federal excise taxes. All such filings shall be made in the name of the party chosen by the Company.

(g)         
The Broker shall not seek to recover from the Company, any commissions due and no funds are due the Broker from the Company.

(h)         
It is expressly agreed that the commission allowed the Broker includes provision for premium taxes, bureau fees and ceding
fees. The Broker shall pay all surplus lines taxes and surplus line stamping fees payable for Policies subject to reinsurance under
the Reinsurance Agreement, and the Broker shall pay to the Company any premium taxes, if applicable, and ceding fees payable for
Policies subject to reinsurance under the Reinsurance Agreement.

3.02      
No Liability of Company for Amounts owed by Reinsurer: The Company shall not be liable for or responsible for any
commissions or other monies payable by the Reinsurer to the Broker or by the Broker to the Reinsurer, including any commission
payable under this Article III. The Broker shall not sue or seek arbitration against the Company for any actions by, or debts owing
from, the Reinsurer.

3.03      
Return of Commission: In the event the Company, the Reinsurer, or the Broker on behalf of the Company, during the
continuance of this Agreement or after its termination, refunds premiums under any Policy by reasons of cancellation or otherwise,
the Broker agrees immediately to return to the Company or the Reinsurer, as applicable, the commission previously received by it
on the portion of the premium refunded. The Broker shall not be required to return, as commission or return commission, monies
greater than the total commission paid or otherwise payable to the Broker.

ARTICLE IV

PRODUCERS

4.01      
Responsibility for Compliance: The Broker shall comply with, and shall be responsible to ensure the compliance by,
all such producers retained by the Broker pursuant to Section 1.14 of this Agreement with the terms of this Agreement and all other
written rules and regulations of the Company, and treat as confidential and use only in the interest of the Company all instructions,
information and materials received from the Company.

4.02      
Responsibility for Performance: The Broker shall be solely responsible for the performances of any producers under
all of the terms and provisions hereof, including, but not limited to, the collections of premiums and refunds of premiums.

4.03      
Responsibility for Commission Payments: It is also specified that the Broker shall be responsible for all commissions
payable to any producers. The Broker and any producing agent shall not seek to hold the Company or Reinsurer liable through litigation,
arbitration or otherwise for commissions payable to such producers.

4.04      
No Service on Board of Directors: The Broker shall not permit its producers or subproducers to serve on its Board
of Directors.

4.05      
No Employment of Company Employee: The Broker shall not employ an individual who is employed with the Company.

4.06      
Notification: The Broker shall be solely responsible for notifying such agents of this Agreement and of any termination
hereof, and the Broker shall be responsible for the consequences of any failure to provide such notification.

4.07      
Termination: The Company, in its sole discretion with or without cause, and without prior written notice, may terminate
the appointment of any producing agent.

ARTICLE V

ADDITIONAL DUTIES OF BROKER

5.01      
Compliance with Laws: The Broker shall, at all times during the period of this Agreement, comply with all applicable
laws and all orders, policy decisions or other requirements of the California, Texas and Delaware Departments of Insurance or other
applicable insurance department, and in addition shall also comply with all United States economic trade and sanction laws and
regulations, as administered by the Office of Foreign Assets Control (“OFAC”) of the United States Department of the
Treasury.

5.02      
Books and Records: All books, records, accounts, documents and correspondence of the Broker and any producing agent
pertaining to the Company's and Reinsurer's business shall, at all times, be open to examination by any authorized representative
of the Company or Reinsurer. The Broker shall make copies of records available upon request by the Company or Reinsurer, whether
such request is before or after termination of this Agreement or the Reinsurance Agreement. The Broker must maintain separate records
of business, including, but not limited to, underwriting files for each insurer for whom it acts as a Broker. Such records must
be maintained for five (5) years or until the completion of a financial examination by the insurance department of the state in
which the Company is domiciled, whichever is longer. The Broker acknowledges and agrees that records relating to the business produced
by the Broker on behalf of the Company are deemed to be records of the Company and such records or copies thereof shall be provided
to the Company upon request. The Broker agrees that it will not destroy any such records in its possession without the prior written
approval of the Company. The Company or its duly appointed representatives shall have free access at any and all reasonable times
to such books and records of the Broker, its departmental or branch offices as shall reflect premium and loss transactions of the
Company and/or the business produced hereunder, for the purpose of obtaining any and all information concerning this Agreement
or the subject matter hereof.

5.03      
Statistical Information: The Broker shall maintain adequate accounting procedures and systems, at no cost or expense
to the Company, and shall provide statistics in a timely manner for all reporting requirements under this Agreement or as shall
be required from time to time by the regulatory authorities of the States of California, Delaware or Texas or any other applicable
governmental agency or authority. Such statistical information shall be provided to the Company by the Broker at the Broker's sole
cost and expense.

5.04      
Reports: The Broker shall forward to the Company, no later than the 30th day following the month being accounted
for, a report in detail of all policies of insurance written or placed, or liability increased or decreased, or policies continued
or renewed or canceled by or through the Broker during the month being accounted for, which shall include all premiums due thereon
whether collected or not. Such report shall show the net amount due to the Company and Reinsurer on all such business on the lines
of business authorized to be written by the Broker and commissions. Such report shall also include, to the extent not already included,
both insurance and reinsurance transactions, including:

(a)         
statement of written, earned and unearned premiums;

(b)         
statement of any losses or claims received by the Broker, which such losses and claims shall be forwarded to US Risk as
the claims administrator of the Company;

(c)         
Statement of commissions deducted from the premiums written.

The report shall be received by or confirmed
to the Company no later than thirty (30) days from the close of the month for which business is reported. The Company shall maintain
such account reports on file for at least five (5) years and shall make the account reports available to the Insurance Commissioner
of the state of Delaware (the “Delaware Department”) or any other state insurance department upon request.

5.05      
Request for Copies of Policies: The Broker shall account for and furnish to the Company, upon request with reasonable
notice, complete copies of all policies issued, copies of all spoiled, voided or otherwise unissued policies.

5.06      
Title to Books and Records: The title of all undelivered policies, books, supplies, or other property related to
the reinsured business is in the Company, and these shall be delivered to the Company by the Broker immediately upon the termination
of this Agreement. The Broker agrees to surrender peaceably the same without compelling the Company to resort to any legal proceedings
whatsoever. Upon request of the Company, prior to or after the termination of this Agreement, the Broker shall provide to the Company,
at the Broker’s sole cost and expense, electronic copies of any and all data related to the reinsured business in a format
reasonably specified by the Company. Further, the Broker shall ensure any vendor or other third party acknowledges and agrees the
Company, at no expense to the Company, shall have use of any systems, data, information, reports, files or statistics prior to
or after the termination of this Agreement in support of or relating to this Agreement as requested by the Company.

5.07      
Advertising: The Broker shall not insert any advertisement respecting the Company in any publication or issue any
circular or paper referring to the Company without first obtaining the written consent of the Company. The Broker shall comply
with all statutes and regulations pertaining to advertising, and establish and maintain records of any such advertising as required
by the applicable laws of the states in which it is doing business.

5.08      
Copies of Policies: The Broker shall maintain on behalf of the Company and Reinsurer complete copies of all policies
issued hereunder. Any or all policies required to be maintained by Broker pursuant to this Section 5.08 may be maintained in electronic
data storage form accessible by computer and if so stored in this fashion, no physical copy of such items need be maintained..

5.09      
Renewals, Extensions or New Policies Required by Law: The Broker shall be solely responsible for procuring any renewal,
extension, or new policy of insurance that may be required by any state or rule or regulation of any state insurance department
with respect to policies originally written directly for the Company. The Broker shall indemnify the Company and hold it harmless
from any loss, damage, cost, claim or expense whatsoever that the Company may incur, or for which it may become liable, as a result
of the said Broker's failure, refusal or neglect to fulfill said responsibility.

5.10      
Obligations to Successors and Assigns: The Broker agrees that its duties and obligations under this Agreement shall
be due and owing also to the successors and assigns of the Company or the Reinsurer, as applicable.

5.11      
Examination of Broker: The Company shall conduct or cause to be conducted a semi-annual examination of the Broker
in accordance with the Company’s examination guidelines. Furthermore, if the Company's aggregate premium volume increases
by thirty (30) percent in any thirty (30) day period, the Company, or the Reinsurer on behalf of the Company, at the expense of
the Broker, shall examine or cause to be examined within ninety (90) days the Broker if it writes more than twenty (20) percent
of the Company's volume and has also experienced a twenty (20) percent increase in premium volume during that same thirty (30)
day period.

The examinations required under the preceding
paragraph shall adequately provide the Delaware Department with the information outlined in (a) through (e) below, shall be made
available to the Commissioner for review, shall remain on file with the Company for a minimum of three (3) years and shall, at
a minimum, contain information concerning the following:

(a)         
timeliness of claims payments (i.e., lag time between date claim is reported and date claim is paid);

(b)         
timeliness of premium reporting and collection by the Broker;

(c)         
compliance by the Broker with underwriting guidelines under Section 1.10 hereof; and

(d)         
reconciliation of policy inventory.

5.12      
Return of Unearned Premium: The Broker shall return any unearned premium due insureds or other persons on the
business which is the subject of this Agreement.

5.13      
Licenses: The Broker shall be duly licensed as required under applicable law to perform its duties hereunder.

5.14      
Data Calls: Should any state insurance department make a request to the Company for any data required to comply with
a statistical data call, the Broker shall be solely responsible to provide the Company with such data. Should the request from
such state insurance department require the Company to contract the services of an outside source, such as an actuarial firm, to
compile the data required, the Broker shall be responsible for its proportionate share of the total cost for services rendered.

5.15      
Per Policy Fees: The Broker, when placing business under this Agreement, may not charge a per-policy fee in excess
of any fees allowed by the applicable insurance regulatory authority.

5.16      
Financial Examination: The Broker shall provide Company, at the Broker's expense, an independent financial examination
in a form acceptable to the applicable state departments of insurance, or other regulatory body, if required.

5.17      
Independent Actuarial Opinion5.18      
: If required by the applicable insurance regulatory authority, the Broker shall provide annually to the Company, at the
Broker’s expense, an independent actuarial opinion attesting to the adequacy of loss reserves established for losses incurred
and outstanding on business produced hereunder if the Broker establishes total loss reserves including IBNR.

5.19      
Statistical Reporting: The Broker acknowledges receipt of the Company’s Statistical Reporting Policy and Procedure
Manual, if applicable, and will act in accordance therewith. The Broker will act, at its sole cost and expense, on behalf of the
Company to produce, prepare, and file statistical information with the designated statistical reporting bureau, if applicable.
The Broker will also furnish the Company, and other parties as designated by the Company, with monthly, quarterly and annual reports
showing statistical data in respect of the business written as required.

5.20      
Audited Financial Statements: Upon request of the Company, the Broker shall provide an audited balance sheet of the
Broker as at the end of each such fiscal year and the related audited statements of income and of cash flows for such fiscal year
in accordance with United States generally accepted accounting principles (“GAAP”) setting forth in each case in comparative
form the figures for the previous fiscal year, reported on without a “going concern” or like qualification or exception,
or qualification arising out of the scope of the audit, by an independent certified public accounting firm satisfactory to the
Company (the “Annual Financial Statements”).

In the event that the Broker does not
have the audited balance sheet described above, it shall prepare or cause to be prepared for each of its fiscal quarters an unaudited
balance sheet of the Broker as at the end of each such fiscal quarter and the related unaudited statements of income and of cash
flows for such fiscal year in accordance with GAAP setting forth in each case in comparative form the figures for the fiscal quarter
(the “Quarterly Financial Statements”).

No later than thirty (30) days after
they are prepared and issued, the Broker shall deliver to the Company a copy of the Broker’s Annual Financial Statements.
No later than ten (10) days after they are prepared, the Broker shall deliver to the Company a copy of the Broker’s Quarterly
Financial Statements.

5.21      
Assigned Risks: This Agreement shall apply to risks assigned to the Company under any assigned risk plan if, in the
reasonable judgment of the Company, such risks were assigned to the Company because of the business written hereunder. Should it
be determined, in the Company’s sole discretion, that the Broker, or any agent with whom assigned risks are also allocated
under a specific assigned risk plan with the Broker, is unwilling or unable to fulfill policyholder obligations under such assigned
risk plan, the Company may elect alternative means to fulfill the policyholder obligations under the assigned risk plan.

5.22      
SIU5.23      
:

(a)         
If the Broker produces business in California on behalf of the Company, the Broker must adhere to any applicable rules and
regulations outlined in California Code of Regulations, Subchapter 9 Insurance Fraud, Article 2 Special Investigative Unit Regulations,
in its entirety, and the applicable provisions of the California Insurance Fraud Prevention Act, in addition to the terms and duties
set forth in this Agreement. The Broker, the Broker’s personnel, and the Broker’s contracted third party entity(ies),
if applicable, must comply with all applicable state or federal anti-fraud requirements, statutes, and regulations. The Broker
will require its personnel, and any contracted third party entity(ies), with responsibilities for business under this Agreement,
including without limitation, claims handlers, underwriters, policy handlers, call center staff within the claims or policy function,
legal staff and other employee classifications that perform similar duties (collectively “Integral Personnel”), to
refer suspected fraud to the Company’s designated Special Investigative Unit (“SIU”) as part of their regular
duties. Anti-fraud activities performed on behalf of the Company, including processing, investigating, or litigation pertaining
to the payment or denial of a claim or application for adjudication of a claim, or an application for insurance, are to be conducted
with oversight by the Company’s designated SIU. In the event the Broker maintains any type of SIU facility, all anti-fraud
activities related to applications, policies, and claims underwritten, bound, or executed on behalf of the Company will be conducted
with oversight by, and referred to, the Company’s designated SIU.

(b)         
If applicable, the Broker shall comply with all Company requests for anti-fraud related reporting and information as statutorily
required. Monthly reports of anti-fraud related data shall include, but not be limited to, the number of California closed claims,
the number of California SIU referrals to the Company’s designated SIU, the number of newly hired employees, and the number
of Integral Personnel handling the Company’s policies and claims. If the Broker produces business in California on behalf
of the Company, the Broker will require all Integral Personnel to successfully complete anti-fraud in-service training that complies
with the California Insurance Fraud Prevention Act (California Insurance Code Sections 1871 et seq.) and the regulations promulgated
thereunder by December 31st of each year, or other date as may be necessitated by California requirements or reasonably required
by the Company. The Broker will provide California-compliant documentation of the completion of such training, in a manner designated
by the Company, and by the date specified by the Company. The Broker and its Integral Personnel are expressly prohibited from reporting
suspected fraud to any Department of Insurance or other regulatory entity. All suspected fraud is to be referred to the Company’s
designated SIU. The Company, directly and through the Company’s designated SIU, shall have the authority to exercise oversight
over all aspects of anti-fraud compliance related to the business under this Agreement or activities performed on behalf of the
Company. The Broker shall remain responsible for implementation of compliant anti-fraud processes and procedures. The Broker will
fully cooperate with the Company’s SIU compliance audits and will ensure that all corrective action plans are implemented
on a timely basis.

ARTICLE VI

PREMIUM FINANCING

6.01      
Receipt of Notices by Broker: With respect to Policies covered under the provisions of this Agreement, if any premiums
are financed, the Broker shall receive and accept on behalf of the Company all notices required by statute, contract or otherwise
to be given to the Company, including, without limitation, notices of the existence of premium finance agreements or of cancellation
of policies the premiums of which are financed ("financed policies").

6.02      
Receipt of Notices by Entitles Other than Broker: No producer, subproducer or any other agent shall be entitled to
receive or accept any notice on behalf of the Company, and the Broker shall be responsible for and will indemnify and hold the
Company harmless from and against any and all liabilities, losses, claims, damages and expenses incurred by reason of or arising
out of any action taken or inaction suffered as a result of receipt of any notice by any person, firm or entity other than the
Broker or the Company.

6.03      
Return of Unearned Commission: Notwithstanding any other term or provision of this Agreement, the Broker agrees to
return and pay over to any premium finance company (whether affiliated with the Company or not) which has sent notice of cancellation
of a financed policy to the Broker, on behalf of the Company, within thirty (30) days of receipt of such notice of cancellation,
any and all unearned commissions as of the date of cancellation, together with any and all unearned premiums due any premium finance
company.

6.04      
Rights to Unearned Commission and Survival: The Broker agrees to and does hereby relinquish any and all rights to
any unearned commissions for any such financed policy as of the date of cancellation. The obligation of the Broker to refund unearned
commissions and unearned premiums on a canceled financed policy shall survive the termination or cancellation of this Agreement
for so long as any policy written under the terms of this Agreement remains in force.

ARTICLE VII

TERM AND TERMINATION

7.01      
Term and Termination: The effective date of this Agency Agreement is 12:01 a.m., Central Time, on April 1, 2020,
and shall remain continuously in force unless canceled as follows:

(a)         
This Agreement may be canceled by any party at any time by giving at least ninety (90) days prior written notice to the
other party. Notice shall be provided by registered mail, return receipt requested, and notice shall be deemed to have been provided
on the date of mailing.

(b)         
Immediately by mutual consent of the Company and the Broker.

(c)         
At any time, by the Company, without prior notice in the event of the Broker declaring bankruptcy or being declared or found
bankrupt or insolvent, or being the subject of a cease and desist order, corrective order, or being placed in, or subject to, a
proceeding of supervision, conservation, rehabilitation or liquidation.

(d)         
Immediately upon written notice by the Company in the event of the cancellation or non-renewal of the Broker's license by
the California Department of Insurance.

(e)         
Immediately upon written notice by the Broker in the event any action against the Company is commenced by Delaware Department
or any other applicable state insurance department pursuant to rehabilitation or liquidation. The Company agrees to furnish notice
of such action immediately to the Broker.

(f)          
If the Broker shall default in making remittance for net premiums then this Agreement shall be terminated.

(g)         
If the Broker shall defraud or attempt to defraud the Company; or any policyholder, then the Company may at its sole discretion
cancel this contract by giving the Broker written notice of cancellation served personally or by mail, which shall be effective
immediately.

(h)         
As provided in Section 9.11 of this Agreement.

(i)           
Automatically and immediately, without notice upon cancellation or termination of the Reinsurance Agreement.

(j)           
After thirty (30) days written notice by any party in the event that the Company or the Broker mergers with or is acquired
by or control of is acquired by any other company or corporation or changes a majority of its officers or board of directors during
the term of this Agreement.

7.02      
Automatic Renewal: This Agreement shall automatically become renewed from year to year upon the renewal of the license
or certificate of authority granted to the Company by the Delaware Department of Insurance, provided this Agreement shall not be
otherwise canceled.

7.03      
Renegotiation: This Agreement shall be subject to renegotiation by the parties every three years from the effective
date of the Agreement.

7.04      
Renewals Required by Law: It is expressly agreed and understood that nothing in this Article VI authorizes the Broker
to write any new business under this Agreement should the Reinsurance Agreement terminate or this Agreement terminate earlier,
except the business that is required to be renewed or issued because of applicable law or regulation, as provided in Section 4.03
of the Reinsurance Agreement.

7.05      
No Liability Due to Termination: The Company shall have no liability to the Broker by virtue of the Company's termination
of this Agreement as set forth in this Article; it being expressly understood that partial consideration for the Company's grant
of agency authority to the Broker is the Broker's promise that the Company shall not be responsible for any damages which might
arise by virtue of any termination of this Agreement.

7.06      
Expirations: In the event of termination of this Agreement, after the Broker having promptly accounted for and paid
over premiums for which it may be liable, the Broker's records, use and control of expirations shall remain the property of the
Broker and left in its undisputed possession.

7.07      
Obligation Post Termination: Upon termination of this Agreement, the Broker shall not be relieved of or released
from any obligation created by or under this Agreement in relation to payment, expenses, reports, accounting or handling, which
relate to insurance business reinsured under this Agreement. In the event that this Agreement is terminated, the Broker, for no
additional fee, shall, and shall have the authority (unless revoked by the Company at its sole discretion in which case the Reinsurer
shall appoint a successor at no cost to the Company) as provided in this Agreement to, continue to perform all of its duties under
this Agreement on the remaining policies during the run-off period. The Broker's duties during the run-off period shall include
handling and servicing of all policies through their natural expiration, together with any policy renewals required to be made
by the provisions of applicable law, whether or not the effective date of such renewal is subsequent to the effective date of cancellation
of this Agreement. Further, upon termination of this Agreement, the Broker shall not be relieved of or released from any obligation
created by or under this Agreement in relation to payment, expenses, reports, accounting or handling, which relate to the outstanding
insurance business under this Agreement existing on the date of such termination. The Broker recognizes that to the extent possible
there shall be no cost to or involvement by the Company in servicing this run-off. The Company, the Broker and the Reinsurer will
cooperate in handling all such business until the business has expired either by cancellation or by the terms of the policies and
all outstanding losses and loss adjustment expenses have been settled.

7.08      
Termination on Run-Off Basis: In the event of the termination of the Reinsurance Agreement, this agreement shall
be terminated on a run-off basis, and the relevant provisions of this Agreement shall apply to business being run-off. It is also
expressly agreed that the terms, conditions and obligations of the Articles II, IV and V, Sections 7.06, 7.07, 7.08 and 7.09, Articles
VIII, Section 9.11 and Article X herein shall survive termination of this Agreement.

7.09      
Suspension of Authority: The Company may suspend the authority of the Broker during the pendency of any dispute regarding
any event of default by the Broker.

ARTICLE VIII

HOLD HARMLESS AND INDEMNIFICATION

8.01      
Hold Harmless and Indemnification: The Broker agrees to and does hereby indemnify and hold the Company harmless from
and against any and all actions, causes of actions, suits, arbitrations, or proceedings of any kind, liabilities, losses, claims,
damages, costs, or expenses (including attorneys' fees and expenses), incurred by the Company by reason of, arising out of, or
relating in any way to this Agreement or any action taken or inaction by the Broker in breach of the terms of this Agreement, United
States economic trade and sanction laws and regulations as administered by OFAC, or the terms of the Reinsurance Agreement, or
which is not in full compliance therewith.

ARTICLE IX

MISCELLANEOUS

9.01      
Governing Law: This Agreement has been made and entered into in the State of Texas and shall be governed by and construed
in accordance with the laws of the State of Texas.

9.02      
Exclusivity: This Agreement is not exclusive and the Company reserves the right to appoint other surplus line brokers
in the territory covered by this Agreement and the Broker reserves the right to act as Broker or agent of other insurers or reinsurers.

9.03      
Successors: This Agreement shall be binding upon the parties hereto, together with their respective successors.

9.04      
Independent Contractor: The Company shall have no right of control over the Broker as to time, means or manner of
the Broker's conduct within the terms of the Agreement and the authority herein granted and nothing herein is intended or shall
be deemed to constitute the Broker an employee or servant of the Company. The Broker shall at all times be an independent contractor.

9.05      
Venue: This Agreement shall be deemed performable at the Company's administrative office in Bedford, Texas, and it
is agreed that the venue of any controversy arising out of this Agreement, or for the breach thereof, shall be in Tarrant County,
Texas.

9.06      
Assignment: No party shall assign any of its rights or obligations under this Agreement. No verbal modification will
be recognized by any party hereto and this Agreement cannot be modified by any subsequent practices or course of dealing by the
parties inconsistent herewith. If the Company or the Broker shall fail to take advantage of a breach, if any, by another party
of the terms, conditions, covenants, or any of them herein contained, such failure shall not be deemed to constitute, or be construed
as, a waiver of any rights on the part of the Broker or Company to thereafter enforce any of the said terms, conditions or covenants.

9.07      
Amendments: This Agreement may be amended, modified or supplemented only by a written instrument executed by all
parties hereto. All such amendments or changes shall specify the effective date of such amendments or changes.

9.08      
Entire Agreement: This Agreement supersedes any and all provisions, terms and/or conditions of any other agreements,
whether oral or written, by between and among the parties with respect to the subject matter hereof.

9.09      
Change of Control: The Broker shall notify the Company in writing within thirty (30) days when there is a change
in the ownership of 10% or more of the outstanding stock in the Broker or when there is any change in the Broker's principal officers
or directors.

9.10      
No Offset: The Broker shall not offset balances due under this Agreement against balances due or owing under any
other contract.

9.11      
Compliance with Laws: This Agreement shall be interpreted in conformance with applicable Texas law and regulation.
If it is found or ordered by a court or regulatory body that any provision or term of this Agreement does not conform to such law
or regulation then this Agreement shall be deemed to be amended, and modified to be in accordance with such law. However, where
this Agreement is found not to comply with applicable law or regulations, the Company may in its sole discretion terminate this
Agreement immediately and without prior notice.

9.12      
Counterparts: This Agreement may be executed in one or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument.

9.13      
Company Surplus Lines Obligations: The Company acknowledges that duties and obligations relating to surplus line
insurers and nonadmitted insurers exist under the California Insurance Code and the regulations promulgated thereunder (“California
Regulatory Provisions”) and acknowledges further that the duties of compliance delegated to the Broker under this Agreement
shall not relieve the Company from any duty or obligation that it may have under the California Regulatory Provisions. The Company
further acknowledges and agrees that nothing contained in this Agreement shall transfer to the Broker or the Reinsurer any such
obligation of the Company that exists under the California Regulatory Provisions.

9.14      
Surplus Lines Obligations: Broker acknowledge that duties and obligations relating to surplus line insurers and nonadmitted
insurers exist under the California Regulatory Provisions and that those provisions applicable to the Company as a nonadmitted
insurer and surplus line insurer shall not relieve the Company from any duty or obligation that it may have under the California
Regulatory Provisions. The Broker further acknowledge and agree that nothing contained in this Agreement shall transfer to the
Broker any such obligation of the Company that exists under the California Regulatory Provisions.

9.15      
Delegation of Duties: As relates to this Agreement generally and Section 1.09(b), Section 9.13 and Section 9.14 specifically,
the Company acknowledges that it has ultimate responsibility for the duties and obligations of a surplus lines insurer as set forth
in the California Regulatory Provisions, provided, that the Broker shall perform those certain duties and obligations that are
legally delegable and shall indemnify the Company for any resulting losses.

ARTICLE X

ARBITRATION

10.01   
Arbitration: As a condition precedent to any right of action hereunder, in the event of any dispute or difference
of opinion hereafter arising between the Company, on the one hand, and the Broker, on the other hand, with respect to this Agreement
or with respect to the Broker's and/or the Company's obligations hereunder, it is hereby mutually agreed that such dispute or difference
of opinion shall be submitted to arbitration.

10.02   
Choice of Arbiter: The Company shall choose one arbiter (an "Arbiter") and the Broker shall choose one
Arbiter. An umpire (an "Umpire") shall be chosen by the two Arbiters, all of whom shall be active or retired disinterested
executive officers of property and casualty insurance or reinsurance companies.

10.03   
Selection of Umpire: Both the Broker and the Company shall choose an Arbiter within 30 days following a written request
by one party to the other to name an Arbiter. In the event either the Company or the Broker fails to choose an Arbiter within this
time period, the party who has chosen its Arbiter may choose the unchosen Arbiter. Thereafter, the Arbiters shall choose an Umpire
before entering upon arbitration. If the Arbiters fail to agree upon the selection for the Umpire within 30 days following their
appointment, each Arbiter shall name three nominees, of whom the other shall decline two and the decision shall be made by drawing
lots.

10.04   
Venue and Binding Decision: Each side shall present its case to the Arbiters and Umpire, in a hearing in Dallas,
Texas. The Arbiters and Umpire shall consider this Agreement as an honorable engagement, as well as a legal obligation, and they
are relieved of all judicial formalities and may abstain from following the strict rules of law regarding entering of evidence.
The decision in writing by a majority of the Arbiters and Umpire when filed with the Company and the Broker shall be final and
binding. Judgment upon the final decision of the Arbiters and Umpire may be entered in any court of competent jurisdiction.

10.05   
Entire Dispute Subject to Arbitration: In the event of a dispute between the Company and the Broker concerning this
Agreement and the Reinsurance Agreement between the Company and the Reinsurer, regardless of whether either party has claims against
the Reinsurer, the entire dispute between the Company and the Broker shall be subject to arbitration as provided under this Article
IX.

10.06   
Cost of Arbitration: The costs of the arbitration, including the fees of the Arbiters and the Umpire, shall be borne
equally by the sides unless the Arbiters and Umpire shall decide otherwise.

10.07   
Governing Law: This Agreement shall be interpreted under the laws of Texas and the arbitration shall be governed
by the Texas Arbitration Code.

ARTICLE XI

PRIVACY

11.01   
Issuance of Privacy Policy: The Broker shall provide to each new policyholder, prior to or upon the issuance of any
Policies written under this Agreement, and in accordance with applicable state and federal laws, an initial notice of the Company’s
privacy policies and practices. Not less than annually thereafter, the Broker, upon the request of the Company, distribute a copy
of the Company’s annual privacy notice, as may be amended from time to time, to each existing policyholder. In addition,
the Broker shall, upon the request of the Company, distribute revised privacy notices and opt-out notices as applicable to each
policyholder to reflect any revisions which may be made to the Company’s privacy policies and practices. In each case, the
Company shall be responsible for providing the Broker with a copy of the form for its privacy policies and practices notice, which
forms the Broker shall use to create and deliver the notices described herein, at the Broker’s sole cost and expense. These
notices shall be created and delivered independent of any separate legal obligation the Broker may have to create and deliver its
own such notices.

11.02   
No Disclosure of Information: The Broker shall not disclose or use any nonpublic personal financial information or
nonpublic personal health information related to any policyholder, or to any consumer or customer (as such terms are defined under
applicable state and federal privacy laws), except as necessary to carry out its duties and obligations under this Agreement or
as otherwise permitted under applicable state or federal law.

11.03   
Development of Security Program: The Broker shall develop and implement, in accordance with applicable state and
federal laws, a comprehensive written information security program designed to (i) ensure the security and confidentiality of nonpublic
personal financial information and nonpublic personal health information related to any policyholder, or to any consumer or customer
(as such terms are defined under applicable state and federal privacy laws), (ii) protect against any anticipated threats or hazards
to the security or integrity of such information, and (iii) protect against unauthorized access to or use of such information that
could result in substantial harm or inconvenience to any customer.

[THE REMAINDER OF THE PAGE
IS LEFT INTENTIONALLY BLANK.

SIGNATURES APPEAR ON
THE FOLLOWING PAGE.]

IN WITNESS WHEREOF,
the Parties hereto by their respective duly authorized representatives have executed this Agreement as of the date first above
written.

UNITED SPECIALTY INSURANCE COMPANY

BY: /s/ David Cleff

 

ITS: EVP

 

DATE:11/24/2020

 

UNIFAX INSURANCE SYSTEMS, INC.

BY: /s/ Ronald A. Closser

 

ITS: President/CEO

 

DATE:11/21/2020

    	 

    	 

    

TABLE
OF CONTENTS

Page

	RECITALS	1
	ARTICLE I AUTHORIZATION, AUTHORITY AND DUTIES	1
	1.01   Authorization	1
	1.02   Maximum Premium	1
	1.03   Classes of Business	1
	1.04   Policy Limits	2
	1.05   Eligible Jurisdictions	2
	1.06   Authority	2
	1.07   Compliance	3
	1.08   No Independent Authority	4
	1.09   Power to Accept or Bind Risk	4
	1.10   No Participation in Syndicates	4
	1.11   Licenses in Other States	4
	1.12   Surplus Lines Obligations	4
	1.13   Limitations on Authority	4
	1.14   Retention of Retail Producers	5
	1.15   Taxes and Fees	5
	1.16   Filings and Reports	5
	ARTICLE II PREMIUMS	5
	2.01   Collection of Premium	5
	2.02   Premium Data	5
	2.03   No Waiver of Trust Relation	5
	2.04   Broker Liable for Payment of Premium	6
	2.05   Remittance of Funds	6
	2.06   Funds Held as Fiduciary	6
	2.07   Funds Held as Fiduciary	6
	ARTICLE III COMPENSATION TO THE BROKER	6
	3.01   Compensation and Deductions	6
	3.02   No Liability of Company for Amounts owed by Reinsurer	7
	3.03   Return of Commission	7
	ARTICLE IV PRODUCERS	7
	4.01   Responsibility for Compliance	7
	4.02   Responsibility for Performance	8
	4.03   Responsibility for Commission Payments	8
	4.04   No Service on Board of Directors	8
	4.05   No Employment of Company Employee	8
	ARTICLE V ADDITIONAL DUTIES OF BROKER	8
	5.01   Compliance with Laws	8
	5.02   Books and Records	8
	5.03   Statistical Information	8
	5.04   Reports	8
	5.05   Request for Copies of Policies	9
	5.06   Title to Books and Records	9
	5.07   Advertising	9
	5.08   Copies of Policies	9
	5.09   Renewals, Extensions or New Policies Required by Law	9
	5.10   Obligations to Successors and Assigns	10
	5.11   Examination of Broker	10
	5.12   Return of Unearned Premium	10
	5.13   Licenses	10
	5.14   Data Calls	10
	5.15   Per Policy Fees	10
	5.16   Financial Examination	10
	5.17   Statistical Reporting	10
	5.18   Audited Financial Statements	11
	ARTICLE VI PREMIUM FINANCING	11
	6.01   Receipt of Notices by Broker	11
	6.02   Receipt of Notices by Entitles Other than Broker	11
	6.03   Return of Unearned Commission	11
	6.04   Rights to Unearned Commission and Survival	11
	ARTICLE VII TERM AND TERMINATION	12
	7.01   Term and Termination	12
	7.02   Automatic Renewal	12
	7.03   Renegotiation	12
	7.04   Renewals Required by Law	12
	7.05   No Liability Due to Termination	13
	7.06   Expirations	13
	7.07   Obligation Post Termination	13
	7.08   Termination on Run-Off Basis	13
	7.09   Suspension of Authority	13
	ARTICLE VIII HOLD HARMLESS AND INDEMNIFICATION	13
	8.01   Hold Harmless and Indemnification	13
	ARTICLE IX MISCELLANEOUS	14
	9.01   Governing Law	14
	9.02   Exclusivity	14
	9.03   Successors	14
	9.04   Independent Contractor	14
	9.05   Venue	14
	9.06   Assignment	14
	9.07   Amendments	14
	9.08   Entire Agreement	14
	9.09   Change of Control	14
	9.10   No Offset	14
	9.11   Compliance with Laws	14
	9.12   Counterparts	15
	9.13   Company Surplus Lines Obligations	15
	9.14   Surplus Lines Obligations	15
	9.15   Delegation of Duties	15
	ARTICLE X ARBITRATION	15
	10.01   Arbitration	15
	10.02   Choice of Arbiter	15
	10.03   Selection of Umpire	15
	10.04   Venue and Binding Decision	16
	10.05   Entire Dispute Subject to Arbitration	16
	10.06   Cost of Arbitration	16
	10.07   Governing Law	16
	ARTICLE XI PRIVACY	16
	11.01   Issuance of Privacy Policy	16
	11.02   No Disclosure of Information	16
	11.03   Development of Security Program	16EXHIBIT 10.10 

 

CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THE EXHIBIT
BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED.

 

[***] INDICATES THAT INFORMATION HAS BEEN REDACTED.

 

CLAIMS ADMINISTRATION AGREEMENT 

 

THIS Claims Administration Agreement (the
“Agreement") dated as of April 1, 2020, and effective as of April 1, 2020, is made by and between UNITED SPECIALTY INSURANCE
COMPANY, an insurer domiciled in Delaware with principal offices in Bedford, Texas ("Company") and U.S. RISK MANAGERS,
INC., a California corporation with principal offices in Calabasas, California that provides claims administration services ("US
Risk"). Company and US Risk are collectively “Parties.”

RECITALS:

 

A.        The
Company is an approved surplus lines insurer in the State of California and is an eligible surplus lines insurer in the other states
and District of Columbia.

 

B.       US
Risk is a claims administrator and a licensed claims adjuster in California.

 

C.       The
Company desires to retain US Risk to provide claims administration and related services for certain surplus lines business insured
by the Company in California and other states to allow US Risk to provide specific services in connection with claims arising under
surplus lines policies issued by Company on the terms and conditions specified in this Agreement.

 

NOW, THEREFORE, in consideration
of the recitals and for other good and valuable consideration, the receipt and sufficiency of which is acknowledged, the parties
agree as follows:

 

A.          
Services and Authority

 

(1)       The
Company hereby retains US Risk and grants it authority to manage and settle claims arising under surplus lines insurance policies
issued by the Company in California and placed by the Broker (hereinafter referred to as "Claim(s)") as set forth in
Exhibit A, as amended from time to time, which is attached and incorporated herein by reference. 

(2)       The
maximum dollar amount of such authority per claim shall not exceed the greater of [***] of the Company’s policyholder surplus
as of December 31 of the last completed calendar year or [***]. Claims settlements in excess of such authority require the prior
approval of the Company. 

(3)       The
authority granted US Risk shall include, generally, the processing, investigating, adjusting, compromising, defending, litigating,
and supervising Claims, and pursuing and collecting salvage recoveries for Claims, according to generally accepted procedures normally
followed in the insurance claims business and specifically according to the operations and procedures of US Risk. US Risk shall
provide first notice of loss, and salvage and subrogation services.

(4)       The
Company grants to US Risk authority to appoint and supervise professional adjusters, appraisers, and attorneys, special investigators,
and other professional employees and vendors to investigate, appraise, adjust, compromise, settle, defend, and litigate Claims.
Such independent claims adjusters are not the agents of the Company and the Company shall be held harmless and indemnified by US
Risk for any liability, claim, demand, expense and/or cost of whatever kind or character as a result of, related to or connected
with any action or inaction of such claims adjusters.

(5)       Subject
to the limitation of subparagraph A.(2), the Company grants to US Risk authority to
settle and pay any Claim within the policy limits.

(6)       The
Company retains final authority to determine any disputes relating to claims settlement and setting of loss reserves.

 

B.          
Obligations of the Parties

 

(1)         
US Risk shall diligently manage and pursue the prompt, fair, and
reasonable settlement and/or defense of all Claims in the Company's best interest.

(2)         
US Risk shall notify the Company and Crusader
Insurance Company (“Reinsurer”) within five (5) business days of becoming known with respect to any loss or Claim that:

(a)       involves
a demand in excess of policy limits;

(b)       alleges
bad faith;

		(c)	alleges a violation of any applicable unfair practices and
unfair competition statutes; 

		(d)	results in legal action being instituted against US Risk, the
Company, Reinsurer or Unifax Insurance Systems, Inc. (“Broker”); 

		(e)	is open for more than six months;

		(f)	involves a coverage dispute.

(3)         
US Risk or its assigned independent adjustment firm shall comply
with licensing requirements in each state in which it adjusts Claims.

(4)         
In the course of its duties, US Risk will:

(a)         
Operate in accordance with US Risk's procedures and make available
to the Company copies of the procedures and any future revisions thereto;

(b)         
Conduct an investigation of each reported Claim within the time
frames prescribed by applicable insurance regulations;

(c)         
Record each Claim promptly with a recommended
reserve;

(d)         
Conduct necessary inspections and appraisals;

(e)         
Maintain files for each reported Claim, which shall be available
for inspection, review, and copying by the Company, the Reinsurer or their respective duly authorized representatives;

(f)       Perform
reasonable and necessary administrative and clerical work in connection with reported Claims;

(g)         
Prepare checks requests, compromises, releases, agreements, and
any other documents reasonably necessary to finalize Claims;

(h)         
Perform a continuous review of outstanding Claim reserves and adjust
reserves to reflect exposure;

(i)           
Record promptly each loss and allocated loss adjustment expense
paid, and all salvage sums recovered for each Claim;

(j)           
Diligently pursue and prosecute the Company's salvage rights relating
to Claims subject to this Agreement. US Risk shall use all reasonable efforts to collect and prepare deposits of funds (net of
collection expenses) arising from the enforcement of such rights into the Company's Loss Fund Account;

(k)       Exercise
reasonable care at all times in the performance of its duties hereunder;

(l)       Timely
record and respond to all Department of Insurance complaints with copies of correspondence to the Company;

(m)       Upon
reasonable request by the Company, US Risk shall provide pertinent claim information for submission to the Company's reinsurers.

(5)         
US Risk shall establish a separate claim
register or method of recording Claims so that all Claims may be segregated and identified separate and apart from other records
of US Risk, with such claims register to identify each Claim on an individual case basis both as to identify the insured(s) and
the claimant, the reserve for loss and adjusting expense, the date when such reserve was established, and if closed, whether such
Claim was closed with or without payment, and if with payment, the amount paid thereon.

(6)         
US Risk may subcontract with independent
contractors to perform any obligations hereunder, which shall be subject to prior written approval of the Company upon request
by the Reinsurer; provided, that photographers, appraisers and independent investigators or adjusters assigned to assess or assist
in the assessment of an individual claim, shall not require such prior written approval.

(7)         
The Company shall have ultimate control and responsibility of the
functions that it has delegated, and will monitor services annually for quality assurance. 

(8)         
All books and records of the Company shall include all books and
records developed or maintained under or related to this Agreement.

(9)         
The Company shall own and have custody of
its general corporate accounts and records.

(10)       
The Company shall not be responsible for
US Risk’s expenses and costs, including but not limited to salaries, bonuses, rentals, transportation, facilities, fees of
soliciting insurance producers, postage, advertising, exchange, license fees of the surplus lines broker or its personnel, or any
other expense whatsoever of US Risk. 

 

(11)       
US Risk may not commit the Company to a claim
settlement with a reinsurer other than the Reinsurer without the prior written approval of the Company. If such prior written approval
is given, US Risk shall forward promptly a report to the Company concerning such transaction and/or payment.

 

(12)       
The Company may suspend or terminate the
settlement authority of US Risk in its sole discretion. 

 

C.       
Loss Fund

 

(1)       US
Risk shall establish an account for payment of Claims by US Risk pursuant to this Agreement (referred to as the “Loss Fund
Account”). US Risk shall issue checks drawn on the Loss Fund Account for payment of Claims. US Risk is obligated to advance
funds to pay Claims. US Risk is not obligated to advance funds for any obligation unrelated to those under this Agreement.

(2)       US
Risk agrees that all funds in the Loss Fund Account will be held in a fiduciary capacity for the benefit of the Company and the
Reinsurer. US Risk shall deposit into the Loss Fund Account any and all funds received from Company or Reinsurer pursuant to this
Agreement.

(3)       The
Loss Fund Account will be established as a zero balance account that will be automatically funded by the Reinsurer. In the event
that, in US Risk’s reasonable opinion, the funds in the Loss Fund Account are not sufficient to make claim payments. US Risk
shall promptly notify Company and Reinsurer in writing of any projected increase in funding needed to make claim payments. In the
event of any actual or projected shortfall in the amount in the Loss Fund Account, US Risk shall promptly request the Reinsurer
to make any transfers of funds as required within five (5) working days of receipt of a written request from US Risk on behalf
of the Company, or as soon as practicable, but always within any applicable state requirements.

(4)       No
later than thirty (30) days following the end of the month during which the business is written, US Risk shall send monthly reports
to Company and the Reinsurer for all loss and expense paid, loss adjustment expenses paid and expenses outstanding and losses incurred
but not reported by US Risk in adjusting Claims under this Agreement in the month covered by the invoice, net of recoveries and
excluding any Extraordinary Claims Payments, to enable the Company to record statistics required by statutes, regulation or upon
call by authorities having competent jurisdiction. Such data shall be segregated by lines of insurance and location of risk.

(5)       Extraordinary
Claim Payment means any claims payment exceeding the authority granted in Section A(2) of this Agreement. US Risk shall notify
Company and Reinsurer in advance, of any Extraordinary Claim Payment accompanied by the following information: policy number, Company
claim number and payee.

(6)       US
Risk agrees that the funds contained in the Loss Fund Account shall not be commingled with any other type of funds, including,
without limitation, any operating funds or capital of US Risk. In no event shall funds contained in the Loss Fund Account be used
to pay any operating expenses or overhead of US Risk.

D.       
Claim Payments

 

For purposes of Claim-related
settlements and expenses, US Risk shall issue Claims and expense payments from the Loss Fund Account and mail the checks directly
to the payees in compliance with the fair claims practices laws.

 

E.       
Compensation

 

(1)       US
Risk shall be paid the fee listed in Exhibit B. The fee will be the exclusive compensation paid to US Risk under this Agreement
for its services. 

(2)       Company
shall cause the fee to be paid by Unifax Insurance Systems, Inc. (the “Broker”). US Risk shall not sue or seek arbitration
against the Company for any failure by the Broker to remit the fee to US Risk. 

 

(3)       US
Risk will not charge for postage and other incidentals and it will not charge an additional administrative or overhead fee.

F.        
Property of Company

 

(1)         
All forms and the Company supplies furnished
to US Risk by the Company shall at all times remain the property of the Company. All such property and supplies shall be returned
to an authorized representative of the Company promptly upon the Company's demand.

(2)         
All funds and invested assets of the Company
are the exclusive property of the Company, held for the benefit of the Company, and subject to the control of the Company.

G.       
Inspection of Records

 

(1)       US
Risk shall maintain in good order, for the period required by law, complete records and accounts of all Claims, correspondence,
and related documentation, either as hard copies, as image files, or as archived data files on fixed and movable media. All records
and accounts relating in any way to Claims shall be open at all reasonable times for inspection and copying by authorized representatives
of the Company and its reinsurers. US Risk shall account for and furnish to the Company, upon request with reasonable notice but
no more than thirty (30) days from such request, complete copies of all claim files created with respect to all loss occurrences
under any policy issued under this Agreement. US Risk will return closed claims to the Company for storage.

(2)       The
Company may conduct or cause to be conducted an examination of US Risk in accordance with the Company’s examination guidelines.

(3)       The
examinations required shall adequately provide the Delaware Department with the information outlined below, shall be made available
to the Commissioner for review, shall remain on file with the Company for a minimum of three (3) years and shall, at a minimum,
contain information concerning the following:

(a)       claims
procedures;

(b)       timeliness
of claims payments (i.e., lag time between date claim is reported and date claim is paid);

(c)       compliance
by the US Risk with claims handling guidelines and applicable law, including unfair claims practices laws and regulations.

H.       
Confidentiality

 

(1)       For
the purposes of this Agreement the following shall be treated as "Confidential Information":

(a)         
all information contained in the Records
maintained by US Risk in connection with the services provided under this Agreement and statistical information derived therefrom;
and

(b)         
all information coming into the possession of US Risk in the course
of providing the services or executing the duties required under this Agreement; and

(c)         
the terms of this Agreement; and

(d)         
all information subject to privacy and data protection statutes
and regulations excluding any information which is in the public domain or comes into the public domain other than by breach of
this clause.

(2)       US
Risk undertakes to keep private and confidential and not to disclose to any person or entity whomsoever all Confidential Information
except:

(a)         
as required for the proper performance of this Agreement, provided,
however, that US Risk shall take all reasonable steps to maintain the confidentiality of any information so disclosed;

(b)         
for enforcement of rights as may be required by law or by a court
of competent jurisdiction;

(c)         
as required by any governmental or regulatory
body having jurisdiction; and

(d)         
for the purposes of taking professional advice from persons under
a like duty of confidentiality.

(3)         
US Risk shall, where practicable, consult
with the Company before making any disclosure under paragraphs G.(2)(b) and G.(2)(c) above. It is understood and agreed that money
damages will be insufficient to cover any breach of the confidentiality provisions of this Agreement, and the parties agree that
any of them will be entitled to injunctive relief in the event of an actual or threatened breach of this clause.

(4)         
US Risk shall advise the Company immediately of any unauthorized
access obtained to, or breaches allowing unauthorized access to, Confidential Information.

(5)         
The confidentiality provisions shall survive
the termination of this Agreement.

I.         
Term of Agreement

 

(1)       The
effective date this Agreement is 12:01 a.m., Central Time, on April 1, 2020, and shall remain continuously in force unless canceled
in accordance with Termination paragraph. 

(2)       This
Agreement shall automatically renew from year to year upon the renewal of the license or certificate of authority granted to the
Company by the Delaware Department of Insurance, provided this Agreement shall not be otherwise canceled. This Agreement shall
be subject to renegotiation by the parties every three years from the effective date of the Agreement.

J.        
Termination

 

(1)         
This Agreement may be terminated for any reason by either party
upon ninety (90) days' prior written notice to the other party. Notice shall be provided by registered mail, return receipt requested,
and notice shall be deemed to have been provided on the date of mailing.

(2)         
Immediately by mutual consent of the Company and US Risk.

(3)         
At any time, by the Company, without prior notice in the event of
US Risk declaring bankruptcy or being declared or found bankrupt or insolvent, or being the subject of a cease and desist order
or corrective order.

(4)         
Immediately by US Risk in the event any action against the Company
is commenced by Texas Department of Insurance or other applicable state insurance department pursuant to rehabilitation or liquidation.
The Company agrees to furnish notice of such action immediately to the Broker.

(5)         
Automatically and immediately, without notice upon cancellation
or termination of the Surplus Line Broker Agreement between the Company and the Broker, effective on the effective date hereof.

 

(6)         
Immediately upon written notice by the Company in the event of the
cancellation or non-renewal of US Risk’s license by the California Department of Insurance.

 

(7)         
If US Risk shall defraud or attempt to defraud the Company; or any
policyholder, then the Company may at its sole discretion cancel this contract by giving US Risk written notice of cancellation
served personally or by mail, which shall be effective immediately.

 

(8)         
After thirty (30) days written notice by any party in the event
that the Company or US Risk mergers with or is acquired by or control of is acquired by any other company or corporation or changes
a majority of its officers or board of directors during the term of this Agreement.

 

(9)         
In the event this Agreement is terminated, US Risk will have the
authority and obligation (unless revoked by the Company at its sole discretion) to continue to manage the Company's claims during
the run-off period, the costs of which will be paid by the Reinsurer. .

K.       
Insurance

 

US
Risk shall maintain errors and omissions insurance under a current and paid-up policy, issued by an insurer reasonably acceptable
to the Company, which insurance shall have a policy limit of no less than [***]
and a deductible no greater than [***] for
the duration of US Risk's service under the Agreement.

 

L.        
Compliance with Legal Requirements

 

Each
Party shall perform its duties hereunder in accordance with all applicable laws, statutes, and regulations, including, without
limitation, the applicable state statutes and regulations governing unfair claims handling practices.

 

M.       
Notices

 

Any notice or other communication hereunder shall
be in writing and shall be deemed fully made or given to any party hereto:

		(1)	When hand delivered;

		(2)	On the business
day after it is delivered to a recognized overnight courier service for overnight delivery to such party at the address of such
party stated below (or to such changed address as such party may have fixed by notice); or

		(3)	Three (3) business days after it is mailed
postage prepaid, by registered or certified mail, return receipt requested, addressed to the address of such party stated below
(or to such changed address as such party may have fixed by notice):

	To US Risk
at:	To the Company at:
	26050 Mureau
Road	1900 L. Don Dodson Drive
	Calabasas,
CA 91302	Bedford, TX 76021
	Attn: President	Attn:
President

  

N.       
Governing Law: Jurisdiction

 

This
Agreement and its validity, construction, and performance shall be governed in all respects by the laws of the State of Texas without
giving effect to principles of conflicts of law. The parties consent and submit to the exclusive jurisdiction of any Texas or Federal
Court sitting in the City or County of Dallas in any action or proceeding arising out of or relating to this Agreement or the enforcement
thereof; and the parties consent to process in any such action or proceeding served by registered or certified mail, which service
shall be sufficient to confer personal jurisdiction over the party so served.

 

O.       
Arbitration

 

(1)       As
a condition precedent to any right of action hereunder, in the event of any dispute or difference of opinion arising between the
Company and US Risk with respect to this Agreement or with respect to the US Risk’s and/or the Company's obligations, the
Parties mutually agree that such dispute or difference of opinion shall be submitted to arbitration.

(2)       The
Company shall choose one arbiter (an "Arbiter") and US Risk shall choose one Arbiter. An umpire (an "Umpire")
shall be chosen by the two Arbiters, all of whom shall be active or retired disinterested executive officers of property and casualty
insurance or reinsurance companies.

(3)       Both
US Risk and the Company shall choose an Arbiter within 30 days following a written request by one party to the other to name an
Arbiter. In the event either the Company or US Risk fails to choose an Arbiter within this time period, the party who has chosen
its Arbiter may choose the unchosen Arbiter. Thereafter, the Arbiters shall choose an Umpire before entering upon arbitration.
If the Arbiters fail to agree upon the selection for the Umpire within 30 days following their appointment, each Arbiter shall
name three nominees, of whom the other shall decline two and the decision shall be made by drawing lots.

(4)       Each
side shall present its case to the Arbiters and Umpire, in a hearing in Dallas, Texas. The Arbiters and Umpire shall consider this
Agreement as an honorable engagement, as well as a legal obligation, and they are relieved of all judicial formalities and may
abstain from following the strict rules of law regarding entering of evidence. The decision in writing by a majority of the Arbiters
and Umpire when filed with the Company and US Risk shall be final and binding. Judgment upon the final decision of the Arbiters
and Umpire may be entered in any court of competent jurisdiction.

(5)       The
costs of the arbitration, including the fees of the Arbiters and the Umpire, shall be borne equally by the sides unless the Arbiters
and Umpire shall decide otherwise.

(6)       This
Agreement shall be interpreted under the laws of Texas and the arbitration shall be governed by the Texas Arbitration Code.

 

P.       
Receivership

 

If
the Company is placed in receivership or seized by the Commissioner (the "Commissioner") of the Texas Department of Insurance:

(1)         
All of the rights of the Company under this agreement extend to
the receiver or the Commissioner.

(2)         
All books and records will immediately be
made available to the receiver or the commissioner, and shall be turned over to the receiver or the commissioner immediately upon
request.

(3)         
US Risk has no automatic right to terminate the agreement if the
insurer is placed in receivership or seized by the commissioner.

(4)         
US Risk will continue to maintain any systems,
programs or other infrastructure if the insurer is placed in receivership or seized by the Commissioner, and will make them available
to the receiver or the Commissioner for as long as US Risk continues to receive timely payment for services rendered.

 

Q.       
Indemnification

 

(1)
       US Risk agrees to indemnify, defend, and hold Company harmless from and against any and
all claims, demands, actions, proceedings, losses, damages, costs and expenses (including attorneys' fees), made or instituted
against, or incurred by Company and arising out of or in connection with this Agreement and the performance hereunder by US Risk.

(2)
       Company agrees to indemnify, defend and hold US Risk harmless from and against any and
all claims, demands, actions, proceedings, losses, damages, costs and expenses (including attorneys' fees), made or instituted
against, or incurred by US Risk and arising out of or in connection with any negligence or willful misconduct on the part of the
Company in breach of its obligations under this Agreement which has been finally determined by a court of competent jurisdiction,
after the exhaustion of all appeals.

R.       
Independent Contractor

 

The
Parties hereto agree that US Risk and its agents and employees, in the performance of this Agreement, shall act in an independent
capacity and not as officers, employees, or agents of the Company.

 

S.       
Miscellaneous

 

(1)       This
Agreement sets forth the entire agreement and understanding of the parties with respect to the transactions contemplated hereby,
and merges and supersedes all prior discussions, written or verbal, and agreements and understandings of every kind and nature,
as to the subject matter hereof, and no party hereto shall be bound by any condition, definition, warranty, or representation relating
to such subject matter other than as expressly provided for in this Agreement or subsequent writing signed by the party hereto
which is to be bound thereby. This Agreement may not be terminated, modified, or amended, nor may any provision hereof be waived,
except by a writing signed by the party to be charged.

(2)       The
headings used in this Agreement are inserted for convenience of reference only and shall not in any way affect the meaning or interpretation
of this Agreement.

(3)       This
Agreement shall be binding upon and shall inure to the benefit of the successors of the parties. This Agreement shall not be assigned
by the parties.

(4)       If
any provision of this Agreement shall be held invalid or unenforceable, such invalidity or unenforceability shall attach only to
such provision and shall not in any manner render invalid or unenforceable any other provision of this Agreement.

(5)       This
Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall
be deemed one and the same instrument.

(6)       The
parties shall execute and deliver such other documents or instruments as may be required by law or regulation to implement the
provisions and intent of this Agreement.

(7)       The
persons signing this Agreement on behalf of the parties warrant, covenant, and represent that they are duly authorized to execute
this Agreement on behalf of the parties for whom they are signing.

(8)       No
waiver of any breach or violation of any clause, paragraph, term, or condition of this Agreement shall be deemed a waiver of any
subsequent breach or violation of the same, nor shall the same be deemed waived unless such waiver is evidenced by a writing signed
by the party being charged therewith.

(9)       US
Risk shall notify the Company in writing within thirty (30) days when there is a change in the ownership of 10% or more of the
outstanding stock of US Risk or when there is any change in US Risk's principal officers or directors.

 

[SIGNATURE PAGE FOLLOWS]

    	 

    	 

    

 

IN WITNESS WHEREOF, the Parties hereto
by their respective duly authorized representatives have executed this Agreement as of the date first above written.

 

 

UNITED SPECIALTY INSURANCE COMPANY

 

BY: /s/ David Cleff

 

ITS: EVP

 

DATE:11/24/2020

 

 

U.S. RISK MANAGERS, INC.

 

BY: /s/ Ronald A. Closser

 

ITS: President/CEO

 

DATE:11/21/2020

    	 

    	 

    

Exhibit
A

 

US Risk shall administer Claims arising
under policies for the classes of business described below issued by the Company in California and other states.

 

(a)       Property

(b)       General
Liability

(c)       Commercial
multi-peril property (including burglary, theft, inland marine and truckers’ long haul physical damage and truckers’
short haul physical damage)

(d)       Commercial
multi-peril liability:

(1)       Commercial
multi-peril liability (including burglary, theft, garage and fidelity, trucking, long-haul and trucking short-haul), provided that
the Broker has no authority to write commercial multi-period liability for contractors

    	 

    	 

    

 

Exhibit B

 

Company agrees that US Risk shall be
paid a fee by the Broker on behalf of the Company as a percentage of earned premium according to the following schedule:

[***]

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