Document:

<PAGE>
                                                                    Exhibit 10.9

                              PHARMACIA CORPORATION
                 LONG-TERM PERFORMANCE SHARE UNIT INCENTIVE PLAN

1. Plan Objective

      Pharmacia Corporation (the "Company") has established the Pharmacia
Corporation Long-Term Performance Share Unit Incentive Plan (referred to as the
"Plan") which is designed to encourage results-oriented actions on the part of
elected officers and certain other key executives of the Company that will drive
the achievement of specific business objectives. The Company desires to and
hereby amends and restates the Plan.

2. Eligibility

      Management employees of the Company and its subsidiaries who are elected
officers of the Company or other key executives are eligible to participate in
the Plan. The Administrator (as defined in Section 3 below) shall select the
elected officers and other key executives who shall participate in the Plan (the
"Participants").

3. Administration

      (a) The Plan shall be administered by the Compensation Committee of the
Board of Directors with respect to employees who are elected officers of the
Company ("Elected Officers"), and the Plan shall be administered by the Chief
Executive Officer of the Company ("CEO") with respect to all other employees.
The CEO may delegate his authority to administer the Plan to an individual or
committee. The term "Administrator" shall mean the Compensation Committee, as
applied to Elected Officers, and the CEO or such individual or committee to
which authority has been delegated, as applied to all other employees.

      (b) The Administrator shall have full power, discretion and authority to
establish the rules and regulations relating to the Plan, to interpret the Plan
and those rules and regulations, to select Participants for the Plan, to
determine each Participant's target award, performance goals and final award, to
make all factual and other determinations in connection with the Plan, and to
take all other actions necessary or appropriate for the proper administration of
the Plan, including the delegation of such authority, discretion or power, where
appropriate.

      (c) All powers of the Administrator shall be executed in its sole
discretion, in the best interest of the Company, not as a fiduciary, and in
keeping with the objectives of the Plan and need not be uniform as to similarly
situated individuals. The Administrator's administration of the Plan, including
all such rules and regulations, interpretations, selections, determinations,
approvals, decisions, delegations, amendments, terminations and other actions,
shall be final and binding on the Company and all employees of the Company and
its subsidiaries, including the Participants and their respective beneficiaries.
<PAGE>
4. Target Awards and Performance Goals

      (a) The Administrator shall establish for each Participant a target award,
which shall be expressed as phantom stock units and shall be payable if and to
the extent that the Company attains the performance goals for the performance
period as described below or otherwise in connection with a change in control
(which shall be deemed to mean the consummation of a transaction approved by the
Company's stockholders as described in Section 13(c) or (d) of the Company's
2001 Long Term Incentive Plan (hereinafter referred to as a "Change in
Control"). The target award shall be equal to three times the annual incentive
target amount in effect for the Participant at the beginning of the performance
period under the Company's annual incentive plan applicable to the Participant,
or such other amount as the Administrator determines, divided by the Company's
stock price on January 2, 2002. The Company's stock price shall be determined by
averaging the high and low sales prices of the Company's common stock on January
2, 2002 as reported on the New York Stock Exchange. The target award shall be
expressed phantom stock units, each of which shall represent one hypothetical
share of common stock of the Company.

      (b) The performance period is the three-year period beginning January 1,
2002 and ending December 31, 2004. The Administrator shall establish the
performance goals for the performance period. Unless the Administrator
determines otherwise, the performance goals shall be based on (i) the Company's
total earnings per share growth ranking as compared to its peer group and (ii)
the Company's achievement of its targeted earnings per share growth, all as set
forth on Exhibit A. The Administrator may adjust the performance goals as it
deems appropriate to take into account corporate transactions or other
extraordinary events that occur during the performance period.

      (c) The peer group consists of the following companies:

                      American Home Products Corporation
                      Bristol-Myers Squibb Company
                      Eli Lilly and Company
                      Johnson & Johnson
                      Merck & Company, Inc.
                      Pfizer, Inc.
                      Schering-Plough Corporation

The Administrator may adjust the peer group from time to time as it deems
appropriate, including the addition, deletion or replacement of companies, to
take into account mergers and other changes in the companies comprising the peer
group.

      (d) The Administrator may establish appropriate terms and conditions to
accommodate newly hired and transferred employees. Unless otherwise determined
by the Administrator, the target award for a newly hired or transferred employee
shall be prorated based on a fraction, the numerator of which is the number of
months such Participant will participate in

                                       2
<PAGE>
the Plan during the performance period (rounded to the nearest whole month) and
the denominator of which is 36. The target award shall be equal to three times
the annual incentive target amount in effect for the Participant on his or her
first date of employment with the Company or on the date of transfer, as
applicable, or such other amount as the Administrator determines, divided by the
Company's stock price on the first date of employment with the Company or the
date of transfer, as applicable. The Company's stock price shall be determined
by averaging the high and low sales prices of the Company's common stock on the
applicable date, as reported on the New York Stock Exchange.

5. Calculation of Incentive Awards

      (a) At the end of the performance period, the Administrator shall compute
each Participant's incentive award for the performance period, which shall be
the greater of the award calculated pursuant to subsection (i) or (ii) below:

            (i) The Administrator shall determine whether and to what extent the
performance goals have been met for each fiscal year of the performance period,
based on the Company's performance for each fiscal year, and the applicable
percentage for each year, according to the matrix described on Exhibit A. The
Administrator shall compute an award for each year of the performance period
equal to one-third of the Participant's target award multiplied by the
applicable percentage for the year according to Exhibit A. The Participant's
incentive award earned for the performance period shall equal the sum of the
awards earned for each of the three fiscal years of the performance period.

            (ii) The Administrator shall determine whether and to what extent
the performance goals have been met for the entire three-year performance
period, based on the Company's cumulative performance for the performance
period. The Administrator shall then determine the percentage of the target
award that is earned for the performance period based on such cumulative
performance according to the matrix described on Exhibit A. For purposes of this
subsection (ii), the Company's performance and the performance goals on Exhibit
A shall be determined on a compounded basis for the three-year performance
period.

      (b) The Administrator shall rely on the audited financial statements of
the Company and its subsidiaries to determine whether and to what extent the
performance goals are met.

      (c) Each Participant's incentive award will be subject to vesting as
described in Section 6 below. On or around March 15, 2005, the Company shall
credit each Participant's incentive award to a book account established for the
Participant under the Pharmacia & Upjohn, Inc. Savings Plus Plan (the "Savings
Plus Plan"). The incentive award shall be credited to the Savings Plus Plan in
the form of stock units equal to the phantom stock units earned pursuant to
Section 5(a) above. All amounts credited to a Participant's book account under
the Savings Plus Plan shall be administered according to the vesting provisions
of Section 6 and the terms and conditions of the Savings Plus Plan.
Distributions from the Participant's vested book account will be made according
to the terms and conditions of the Savings Plus Plan.

                                       3
<PAGE>
      (d) Participants must be employed on December 31, 2004 in order to be
eligible for an incentive award under the Plan, except as described below or
except as the Administrator may otherwise determine. Unless the Administrator
determines otherwise:

            (i) Participants who die during the performance period will receive
a pro-rated award, which will be calculated at the end of the performance period
and will be based on the Company's performance during the entire performance
period as described in subsection (a)(i) or (a)(ii) above, whichever is
applicable. The pro-rated award will be the award calculated for the entire
performance period, multiplied by a fraction, the numerator of which is the
number of months during which the Participant participated in the Plan during
the performance period before the Participant's death (rounded to the nearest
whole month) and the denominator of which is 36. The Company will credit the
pro-rated award to a book account established for the Participant under the
Savings Plus Plan on or around March 15, 2005.

            (ii) Participants who retire after their normal retirement age (as
defined below) during the performance period will receive a pro-rated award,
which will be calculated at the end of the performance period and will be based
on the Company's performance during the entire performance period as described
in subsection (a)(i) or (a)(ii) above, whichever is applicable. Normal
retirement age is age 55, or, if the Participant has at least ten years of
service, age 50. The pro-rated award will be the award calculated for the entire
performance period, multiplied by a fraction, the numerator of which is the
number of months during which the Participant participated in the Plan during
the performance period before the Participant's retirement (rounded to the
nearest whole month) and the denominator of which is 36. The Company will credit
the pro-rated award to a book account established for the Participant under the
Savings Plus Plan on or around March 15, 2005.

            (iii) Participants who leave the Company under a Company-sponsored
disability program during the performance period will receive a pro-rated award,
which will be calculated at the end of the performance period and will be based
on the Company's performance during the entire performance period as described
in subsection (a)(i) or (a)(ii) above, whichever is applicable. The pro-rated
award will be the award calculated for the entire performance period, multiplied
by a fraction, the numerator of which is the number of months during which the
Participant participated in the Plan during the performance period before the
Participant's termination date (rounded to the nearest whole month) and the
denominator of which is 36. The Company will credit the pro-rated award to a
book account established for the Participant under the Savings Plus Plan on or
around March 15, 2005.

            (iv) If a Change in Control of the Company occurs during the
performance period, the following provisions shall apply:

                  (A) Participants who are then employed by the Company or an
Affiliate (as defined below) will receive a pro-rated award. The award will
first be calculated as of the date of the Change in Control based on the greater
of (i) the Participant's target award or (ii) an award calculated by the
Administrator based on period-to-date performance by the

                                       4
<PAGE>
Company as of the date of the Change in Control. The pro-rated award will be the
award computed pursuant to the preceding sentence multiplied by a fraction, the
numerator of which is the number of months during which the Participant
participated in the Plan during the performance period before the effective date
of the Change in Control (rounded to the nearest whole month), and the
denominator of which is 36. Participants who retired, died or were disabled
during the performance period as described above shall receive pro-rated
incentive awards as described in subsections (i), (ii) and (iii) above but based
on the Company's performance to the date of the Change in Control. The Company
will credit the pro-rated award to a book account established for the
Participant under the Savings Plus Plan immediately upon the effective date of
the Change in Control and such amount will be fully vested and non-forfeitable.

                  (B) If a Participant remains employed by the Company or an
Affiliate for a period of two years following the Change in Control or is
involuntarily terminated (which term shall be deemed to include for all purposes
under this Plan, as applicable, a termination for Good Reason (as such term is
defined in the Participant's employment agreement) or upon a Termination Due to
Change in Control (as such term is defined in the Company's Separation Benefit
Plan or Change in Control Severance Benefit Plan)) other than for cause (as
defined below), within two years of a Change in Control, the Participant's award
for the performance period will be increased to 200% of the Participant's target
award for the performance period, if such amount is greater than the award
previously calculated for the performance period pursuant to paragraph (A)
above. The Company will credit any additional award amount to the book account
established for the Participant under the Savings Plus Plan immediately upon the
earlier of (i) the second anniversary of the Change in Control or (ii) the date
the Participant's employment is involuntarily terminated without cause. Any
earnings or other amounts previously credited to the Participant's account under
the Savings Plus Plan with respect to the previously calculated award will
remain in the Participant's account.

            (v) For purposes of this Plan, the term "Affiliate" shall have the
meaning given that term in the Savings Plus Plan. The term "cause" shall have
the meaning given that term, if applicable to the Participant, in the written
employment agreement between the Participant and the Company or an Affiliate as
in effect on the date of the Participant's termination of employment or in the
Company's Change in Control Severance Benefit Plan. Otherwise, the term "cause"
shall mean (i) a material breach by a Participant of the Participant's duties
and responsibilities (other than as a result of incapacity due to physical or
mental illness) which is demonstrably willful and deliberate on the part of the
Participant, which is committed in bad faith or without reasonable belief that
such breach is in the best interests of the Company or an Affiliate, and which
is not remedied within 30 days after receipt of written notice from the Company
or an Affiliate specifying such breach, or (ii) the Participant's conviction of
a felony which is materially and demonstrably injurious to the Company or an
Affiliate.

6. Vesting of Incentive Awards

                                       5
<PAGE>
      (a) If a Participant earns an incentive award as described in Section 5
for the performance period, 25% of the incentive award will be vested as of the
end of the performance period. The remaining portion of the Participant's
incentive award will vest over a two-year period, as follows, if the Participant
continues to be employed by the Company or an Affiliate through the applicable
vesting date:

<TABLE>
<CAPTION>
            Vesting Date      Portion of the Incentive Award that Vests
<S>                           <C>
         December 31, 2005                    50%
         December 31, 2006                    25%
</TABLE>

      (b) If a Participant retires at or after his or her normal retirement age
(as described in Section 5(d)(ii)), leaves the Company under a Company-sponsored
disability program or dies while employed by the Company or an Affiliate, the
Participant's incentive award shall be fully vested at the end of the
performance period or at the time such event occurs, whichever is later. If a
Participant's employment with the Company and its Affiliates terminates for any
other reason, any unvested incentive award, including all unvested earnings or
other amounts credited with respect to the incentive award, shall be forfeited
to the Company as of his or her termination date. A transfer of employment among
the Company and its Affiliates shall not be considered a termination of
employment for purposes of the Plan.

      (c) Earnings or other amounts credited with respect to a Participant's
incentive award will vest pro-rata as the underlying incentive award vests. The
Administrator reserves the right to accelerate vesting on a pro-rata basis or in
full whenever the Administrator deems such action appropriate.

      (d) Notwithstanding the foregoing, the incentive award of each Participant
who is employed by the Company or an Affiliate at the time of a Change in
Control, or who retired at or after normal retirement age, died or left the
Company under a Company-sponsored disability program on or before the date of
the Change in Control, shall become fully vested upon a Change in Control.

7. Changes to Performance Goals and Target Awards

      At any time prior to the final determination of awards, the Administrator
may adjust the performance goals and target awards to reflect a change in
corporate capitalization (such as a stock split or stock dividend), or a
corporate transaction (such as a merger, consolidation, separation,
reorganization or partial or complete liquidation), or to reflect equitably the
occurrence of any extraordinary event, any change in applicable accounting rules
or principles, any change in the Company's method of accounting, any change in
applicable law, any change due to any merger, consolidation, acquisition,
reorganization, stock split, stock dividend, combination of shares or other
changes in the Company's corporate structure or shares, or any other change of a
similar nature.

                                       6
<PAGE>
8. Amendments and Termination

      The Company may at any time amend or terminate the Plan by action of the
Compensation Committee; provided that no amendment or termination may be made
after a Change in Control that adversely affects Participants' benefits computed
under Section 5(d) for the performance period. The Administrator shall have the
right to modify the terms of the Plan as may be necessary or desirable to comply
with the laws or local customs of countries in which the Company operates or has
employees.

9. Miscellaneous Provisions

      (a) This Plan is not a contract between the Company and the Participants.
Neither the establishment of this Plan, nor any action taken hereunder, shall be
construed as giving any Participant any right to be retained in the employ of
the Company or any of its subsidiaries. Nothing in the Plan, and no action taken
pursuant to the Plan, shall affect the right of the Company or a subsidiary to
terminate a Participant's employment at any time and for any or no reason. The
Company is under no obligation to continue the Plan.

      (b) A Participant's right and interest under the Plan may not be assigned
or transferred, except as provided in Section 5(d) of the Plan upon death, and
any attempted assignment or transfer shall be null and void and shall
extinguish, in the Company's sole discretion, the Company's obligation under the
Plan to pay awards with respect to the Participant. The Company's obligations
under the Plan may be assigned to any corporation which acquires all or
substantially all of the Company's assets or any corporation into which the
Company may be merged or consolidated.

      (c) The Plan shall be unfunded. The Company shall not be required to
establish any special or separate fund, or to make any other segregation of
assets, to assure payment of awards. The Company's obligations hereunder shall
constitute a general, unsecured obligation, awards shall be paid solely out of
the Company's general assets, and no Participant shall have any right to any
specific assets of the Company.

      (d) All claims for benefits under this Plan shall be reviewed pursuant to
the claims procedures contained in the Savings Plus Plan.

      (e) The Company shall have the right to deduct from awards or any other
payments of wages any and all federal, state and local taxes or other amounts
required by law to be withheld.

      (f) The Company's obligation to pay compensation as herein provided is
subject to any applicable orders, rules or regulations of any government agency
or office having authority to regulate the payment of wages, salaries, and other
forms of compensation.

                                       7
<PAGE>
      (g) A Participant's acceptance of benefits under the Plan shall constitute
the Participant's acceptance of all terms of the Plan, including the
discretionary authority of the Administrator.

      (h) The validity, construction, interpretation and effect of the Plan
shall exclusively be governed by and determined in accordance with the laws of
the State of Delaware.

                                       8
<PAGE>
                                    Exhibit A

           Pharmacia Corporation Performance Share Unit Incentive Plan
                                1/1/02 - 12/31/04
                           Payout as Percent of Target

<TABLE>
<S>         <C>   <C>         <C>      <C>      <C>      <C>     <C>      <C>
Quartile    Q1      75.0%     100.0%   110.0%   125.0%   150.0%  175.0%   200.0%
Ranking     --------------------------------------------------------------------
EPS         Q2      25.0%      50.0%    75.0%   100.0%   125.0%  150.0%   175.0%
Growth      --------------------------------------------------------------------
vs. Peer    Q3       0.0%       0.0%    35.0%    50.0%    80.0%  100.0%   125.0%
Group       --------------------------------------------------------------------
            Q4       0.0%       0.0%    20.0%    35.0%    50.0%   70.0%    90.0%
            --------------------------------------------------------------------
                  5% or less      6%       7%       8%       9%     10%     11%+
</TABLE>

                          Growth in Earnings per Share

(a)   Target award is number of stock units based on 3x the annual incentive
      target amount at the beginning of the performance period.

(b)   When computing the performance goals on a cumulative basis for the
      three-year period, compounded growth in EPS shall be used<PAGE>
                       FIFTH AMENDMENT TO CREDIT AGREEMENT

     THIS FIFTH AMENDMENT TO CREDIT AGREEMENT, dated as of the 28th day of June,
2002 (this "Amendment"), is made among SELECTIVE INSURANCE GROUP, INC., a New
Jersey corporation with its principal offices in Branchville, New Jersey (the
"Parent"), and SELECTIVE INSURANCE COMPANY OF AMERICA, a New Jersey corporation
with its principal offices in Branchville, New Jersey ("SICA," and collectively
with the Parent, the "Borrowers"), and WACHOVIA BANK, NATIONAL ASSOCIATION
(formerly known as First Union National Bank) ("Lender"). Capitalized terms used
but not defined herein shall have the meanings given to such terms in the Credit
Agreement referred to below, as amended by this Amendment. Unless otherwise
specified, section references herein refer to sections set forth in the Credit
Agreement, as amended by this Amendment.

                                    RECITALS

     A.   The Borrowers and the Lender are parties to a Credit Agreement, dated
as of October 22, 1999, as amended (the "Credit Agreement"), providing for the
availability of a revolving credit facility to the Borrower upon the terms and
conditions set forth therein.

     B.   The Borrower has requested an extension of the maturity of such
revolving credit facility, as more fully set forth herein, and the Lender has
agreed to such extension upon the terms and conditions set forth herein.

                             STATEMENT OF AGREEMENT

     NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto, for themselves
and their successors and assigns, agree as follows:

                                   ARTICLE I

                          AMENDMENT TO CREDIT AGREEMENT

     1.1  Section 1.1 is hereby amended by adding the following definition
thereto in appropriate alphabetical order:

     ""Fifth Amendment" shall mean the Fifth Amendment to Credit Agreement,
dated as of June 28, 2002, among the Borrowers and the Lender, which amends this
Agreement."

     1.2  Section 1.1 is hereby further amended by replacing the following
definitions, as currently set forth therein, with the definitions as set forth
below:

     ""Agreement" shall mean this Credit Agreement, as amended by the First
Amendment, the Second Amendment, the Third Amendment, the Fourth Amendment and
the Fifth Amendment and as further amended, modified or supplemented from time
to time."

<PAGE>
     ""Maturity Date" shall mean June 27, 2003 or such later date to which the
Maturity Date may be extended pursuant to Section 2.18."

     1.3  Section 2.18 is hereby amended by replacing the references therein to
"June 28, 2002" with "June 27, 2003."

     1.4  Section 9.5(b) is deleted in its entirety and is replaced with the
following:

     "(b) if to the Lender, to it at the address set forth on its signature
page to the Fifth Amendment;"

                                   ARTICLE II

                                  EFFECTIVENESS

     This Amendment shall become effective on June 28, 2002 (the "Fifth
Amendment Effective Date"), provided that the following conditions shall have
been satisfied as of such date:

     2.1  Representations and Warranties; Officer's Certificate. The following
shall be true and the Lender shall have received a certificate, signed by the
president, chief executive officer or chief financial officer of each Borrower,
dated the Fifth Amendment Effective Date, in form and substance satisfactory to
the Lender, certifying that (i) each of the representations and warranties of
such Borrower contained in this Amendment, the Credit Agreement and the other
Credit Documents is true and correct on and as of the Fifth Amendment Effective
Date and after giving effect to this Amendment with the same effect as if made
on and as of such date (except to the extent any such representation or warranty
is expressly stated to have been made as of a specific date, in which case such
representation or warranty is true and correct as of such date), and (ii) on and
as of the Fifth Amendment Effective Date and after giving effect to this
Amendment, no Default or Event of Default has occurred and is continuing.

     2.2  Amendment Fee. In consideration of the amendments effected hereby, the
Borrower shall have paid to the Lender a fee in the amount of $5,000.

     2.3  Secretary's Certificates. With respect to each Borrower, the Lender
shall have received a certificate, signed by the secretary or an assistant
secretary of such Borrower, dated the Fifth Amendment Effective Date, in form
and substance satisfactory to the Lender, certifying that (i) since October 22,
1999, there has been no amendment to the articles of incorporation or bylaws of
such Borrower (or, if and to the extent any of the foregoing have been amended
since such date, a statement to such effect, attaching copies thereof), and (ii)
attached thereto is a true and complete copy of resolutions adopted by the board
of directors of such Borrower authorizing the execution, delivery and
performance of this Amendment.

     2.4  Fees and Expenses. The Borrower shall have paid all fees and expenses
of the Lender required under the Credit Agreement to have been paid on or prior
to the Fifth Amendment Effective Date, including without limitation the
reasonable fees and expenses of counsel to the Lender.

                                        2
<PAGE>
     2.5  No Material Adverse Change. Since December 31, 2001, there shall not
have occurred any Material Adverse Change.

     2.6  Other Documents. The Lender shall have received such other documents,
certificates, opinions and instruments in connection with this Amendment as it
shall have reasonably requested.

                                  ARTICLE III

                         REPRESENTATIONS AND WARRANTIES

     Each of the Borrowers hereby represents and warrants to the Lender that,
after giving effect to this Amendment:

     (a)  Each of the representations and warranties of such Borrower contained
in the Credit Agreement is true and correct on and as of the date hereof with
the same effect as if made on and as of the date hereof (except to the extent
any such representation or warranty is expressly stated to have been made as of
a specific date, in which case such representation or warranty is true and
correct as of such date).

     (b)  On and as of the Fifth Amendment Effective Date, no Default or Event
of Default has occurred and is continuing.

                                   ARTICLE IV

                                     GENERAL

     4.1  Full Force and Effect. From and after the Fifth Amendment Effective
Date, all references to the Credit Agreement set forth in any other Credit
Document or other agreement or instrument shall, unless otherwise specifically
provided, be references to the Credit Agreement as amended by this Amendment and
as may be further amended, modified, restated or supplemented from time to time.
This Amendment is limited as specified and shall not constitute or be deemed to
constitute an amendment, modification or waiver of, or consent to departure
from, any provision of the Credit Agreement except as expressly set forth
herein. Except as expressly amended hereby, the Credit Agreement shall remain in
full force and effect in accordance with its terms.

     4.2  Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of New York, without regard to principles
of conflict of laws (excluding New York General Obligations Law Section 5-1401).

     4.3  Counterparts. This Amendment may be executed in two or more
counterparts, each of which shall constitute an original, but all of which when
taken together shall constitute but one instrument.

     4.4  Construction. The headings of the various sections and subsections of
this Amendment have been inserted for convenience only and shall not in any way
affect the meaning or construction of any of the provisions hereof.

                                       3
<PAGE>
     4.5  Severability. To the extent any provision of this Amendment is
prohibited by or invalid under the applicable law of any jurisdiction, such
provision shall be ineffective only to the extent of such prohibition or
invalidity and only in any such jurisdiction, without prohibiting or
invalidating such provision in any other jurisdiction or the remaining
provisions of this Amendment in any jurisdiction.

     4.6  Successors and Assigns. This Amendment shall be binding upon, inure to
the benefit of and be enforceable by the respective successors and permitted
assigns of the parties hereto.

                   [signatures appear on the following pages]

                                       4

<PAGE>
     IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment to
be executed by its duly authorized officer as of the day and year first above
written.

                                          SELECTIVE INSURANCE GROUP, INC.

                                          By:
                                                 -------------------------------

                                          Name:
                                                 -------------------------------

                                          Title:
                                                 -------------------------------

                                          SELECTIVE INSURANCE COMPANY OF AMERICA

                                          By:
                                                 -------------------------------

                                          Name:
                                                 -------------------------------

                                          Title:
                                                 -------------------------------

                              (signatures continue)

                                SIGNATURE PAGE TO
                                 FIFTH AMENDMENT
<PAGE>
                                   WACHOVIA BANK, NATIONAL ASSOCIATION
                                   (formerly known as First Union National Bank)

                                   By:
                                          --------------------------------------

                                   Name:
                                          --------------------------------------

                                   Title:
                                          --------------------------------------

                                   Instructions for wire transfers to the
                                   Lender:

                                   Wachovia Bank, National Association
                                   ABA Routing No. 053000219
                                   Account Name:  GL
                                   Account Number:  01459168111011
                                   Attention:  Romonia Lester
                                   Reference:  Selective Insurance

                                   Address for notices:

                                   Wachovia Bank, National Association
                                   201 S. College Street, CP 17
                                   Charlotte, North Carolina 28288-1183
                                   Attention:  Romonia Lester
                                   Telephone:  (704) 383-5364
                                   Telecopy:  (704) 374-2802

                                   with a copy to:

                                   Wachovia Bank, National Association
                                   1339 Chestnut Street, 3rd Floor
                                   Philadelphia, Pennsylvania 19107
                                   Attention:  Kimberly Shaffer
                                   Telephone:  (267) 321-7033
                                   Telecopy:  (267) 321-7102

                                SIGNATURE PAGE TO
                                 FIFTH AMENDMENT

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