Document:

26
    November 2015	 	Lord
    Blackwell

    Chairman	 
 
 
 
 
 
 
 
 

	 	 	 	 
	Private
        & Confidential 

         

        Mr
        Stuart Sinclair

	 	 	 

        

        

         

 

Dear Stuart

 

Non executive
Director Appointment - Lloyds Banking Group plc

 

Following our
recent discussions, I am pleased to confirm that the Board of Lloyds Banking Group plc (“the company”) has approved
in principle your appointment as a non-executive director.

 

All directors
of the company also serve on the principal subsidiary boards of Lloyds Bank plc, HBOS Plc and Bank of Scotland plc. This letter
also covers your appointment as a non-executive director of those companies. The boards generally meet simultaneously.

 

Your appointment
is subject to the terms and conditions set out in this letter.

 

	1.	Appointment

 

Your appointment
will commence on or after 4 January 2016 and is for an initial term of three years, expiring at the Annual General Meeting (AGM)
2019. Appointments are reviewable annually. Subject to satisfactory performance and Board approval, you will be invited to stand
for annual re-election by shareholders at the AGM in each year of your appointment.

 

Subject to
a review of performance and the requirements of the board at the time, non executive directors may be invited to serve for a further
term.

 

Continuation
of your appointment is subject to:

 

	•	where relevant,
    confirmation by the Prudential Regulatory Authority (PRA) and Financial Conduct Authority (FCA) that your application to carry
    out the non executive director controlled function as an approved person has been approved and to this status being maintained
    throughout your tenure (subject to changes due to be introduced under the Senior Managers and Certification Regime). All directors
    are required to adhere to the standards set by the regulator in relation to approved persons. Current requirements are set
    out in the Statements of Principle and Code of Practice for Approved Persons (APER), a copy of which is included in your appointment
    pack. Directors are reminded that they must inform the company and PRA and FCA of any significant changes in their personal
    circumstances which may have an impact on their status as approved persons/director;

 

Lloyds
Banking Group plc is registered in Scotland no. 95000. Registered office: The Mound, Edinburgh EH1 1YZ.

Authorised
by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudencial Regulation Authority
under number 169628.

    	 

    	

    

	•	satisfactory performance and contribution
    to the Board and any Board committees on which you serve;
	 	 
	•	election and re-election as a director by the
    company’s shareholders in general meeting as required by the company’s articles of association and codes to which
    the company subscribes, in particular, the Financial Reporting Council’s UK Corporate Governance Code.

 

	2.	Termination

 

You will cease
to hold the office of director if:

 

	(i)	you resign from your appointment or choose not to stand
    for re-election;
	 	 
	(ii)	the company terminates your appointment or chooses not to propose
    you for re-election;
	 	 
	(iii)	shareholders fail to elect or re-elect you;
	 	 
	(iv)	you fail to meet, on an ongoing basis, the standards expected of
    an approved person; or
	 	 
	(v)	the articles of association or any law or regulation prevents you
    from continuing in office.

 

In the case
of (i) and (ii) above, there is no entitlement to notice or to compensation for loss of office. However, the company will endeavour
to give you reasonable notice where appropriate. You are requested to make the Chairman aware of any intention not to seek re-election so that the board can plan for orderly succession.

 

In the case
of termination under (iii), (iv) or (v) above, your appointment will terminate automatically with immediate effect and without
compensation.

 

	3.	Board Committees

 

In addition
to your appointment as a non executive director you will be required to serve on at least two Board Committees which may be subject
to rotation. Initially, you will serve as:

 

	•	Member, Remuneration Committee
	 	 
	•	Member, Risk Committee

 

You may also
be required to serve on ad hoc Board
Committees established from time to time for a specific purpose.

 

	4.	Role

 

Your duties
will be those required of a non-executive director. Non-executive directors have the same legal responsibilities as other directors.

 

The Board as
a whole is collectively responsible for promoting the success of the company by directing the company’s affairs. As members
of the unitary board, all directors are required to:

 

	•	provide sound leadership of the company within a framework
    of prudent and effective controls which enable risk to be assessed and managed;

    	2

    	

    

	•	set the company’s strategy having regard to its
    risk appetite, ensuring that the necessary financial and human resources are in place for the company to meet its objectives,
    and review management performance; and
	 	 
	•	set the company’s values and standards and ensure that its
    obligations to its shareholders and others are met and understood.

 

	5.	Key accountabilities

 

Non executive
directors are expected to focus on the following key areas:

 

	Strategy	Non-executive directors should constructively challenge
    management and help to develop proposals on strategy by bringing a different and external perspective to Board discussions.
	 	 
	Performance	Non-executive directors should support and scrutinise the performance
    of management in meeting agreed goals and objectives and monitor the reporting of performance.
	 	 
	Risk	Non-executive directors should satisfy themselves that Board discussion
    and decision making on risk matters is based on accurate and appropriately comprehensive information and draws, as far as
    they believe it to be relevant or necessary, on external analysis and input. In particular, non-executive directors should
    satisfy themselves on the integrity of financial information and that financial controls and systems of risk management are
    robust, adequate and effective.
	 	 
	People	Through membership of Board Committees, non-executive directors
    are responsible for determining appropriate policies, structure and levels of remuneration for executive directors and senior
    executive management and ensuring appropriate arrangements are in place for Board appointments and executive and non-executive
    succession planning.

 

	6.	Time Commitment

 

As a non-executive
director, you are required to devote such time as is necessary for the effective discharge of your duties. The likely minimum
time commitment for your role is approximately 35 - 40 days per annum which is made up as follows:

 

	•	Base time commitment for LBG non executive directors:	c.25 - 28 days
	•	Additional time for membership of Remuneration Committee	c.5- 6 days
	•	Additional time for membership of Risk Committee	c.5- 6 days

 

The estimated
time commitment includes scheduled
Board and Committee meetings relevant to your role, plus strategy sessions (including a 2-3 day offsite meeting), attendance at
the AGM and preparation for meetings. A schedule of Board and committee meetings is included in your appointment pack.

 

The above minimum
time commitment is based on planned events. From time to time, you may be required to attend meetings at short notice. In such
cases, you will be required to make yourself available as appropriate.

 

In your capacity
as a director of Lloyds Banking Group plc, you may be required to attend or represent the Group at meetings with the regulator,
the Government, investors or other third parties as appropriate.

 

Depending on
your other commitments, you may be expected to relinquish other appointments to ensure that you can meet the legal and time commitments
of the role.

    	3

    	

    

Legislation
limits a director of a financial services company to holding a maximum of four non-executive director roles.

 

By accepting
this appointment, you confirm that you are able to allocate sufficient time to meet the expectations of your role to the satisfaction
of the board.

 

The agreement
of the Chairman should be sought before accepting additional commitments that might affect your ability to meet the time commitments
necessary to discharge your duties.

 

	7.	Fees and Expenses

 

The following fees are payable in respect of your appointment:

 

	•	Non-executive base fee	£ 65,000
	•	Additional fee for membership of Remuneration Committee	£ 20,000
	•	Additional fee for membership of Risk Committee	£ 20,000
	 	 	 
	Total fees payable:	£ 105,000

 

Fees are payable
monthly in sterling and will be paid to a Lloyds bank account (or an account with any of the Lloyds Banking Group brands), held
in your name. If you do not hold such an account, you will be required to open one for this purpose. Please contact the Company
Secretary who will be happy to make the necessary arrangements.

 

The company
will reimburse you for all reasonable and properly documented expenses incurred by you in the performance of your duties.

 

	8.	Outside Interests

 

It is accepted
and acknowledged that you have business interests other than those of the company. As a condition of your appointment you are
required to declare any such directorships, appointments and interests to the board in writing. If you take on any additional
business interests or become aware of any potential conflicts of interest, these must be disclosed to the board as soon as they
arise or become known to you. If at any time you are considering acquiring any new interest which might give rise to a conflict
of interest with the company you must first discuss the matter with the Chairman and obtain a resolution of the board authorising
such interest. Regardless of any approval given in relation to outside interests, it is your responsibility to ensure that you
can meet the time commitment required by the role.

 

	9.	Confidentiality

 

You will not
use or disclose to any person, firm or organisation (except as required by law or to carry out your duties under this letter)
any trade secrets, know-how, business information or other private or confidential information relating to the business, finances
or affairs of the company or any member of the Lloyds Banking Group, or any customer of the company or any other information provided
on the basis that it is confidential. You will use your best endeavours to prevent the unauthorised use or disclosure of any such
information.

    	4

    	

    

This restriction
will continue to apply after your appointment ends without limit in time but will not apply to information which becomes public,
unless through unauthorised disclosure by you. After your appointment ends you will return all documents and information (whether
written, visual or electronic) under your control which belong to the company or any member of the Lloyds Banking Group.

 

Your attention
is also drawn to the requirements under both legislation and regulation relating to the disclosure of price sensitive information.
You should avoid making any statements or engaging in any dealings that might contravene these requirements. The Company Secretary
can provide further information and advice on these matters if required. Company policy is that all external communication on
company affairs is restricted to the Chairman, Chief Executive and Corporate Affairs Director only.

 

	10.	Induction

 

Following appointment,
the company will provide further tailored induction to the extent required. You are entitled to request any additional information
or briefings to assist you in the execution of your duties.

 

	11.	Evaluation and review of performance

 

The performance
of individual directors and the board and its committees is evaluated annually. In the interim, if there are any matters which
you wish to discuss in relation to your role, please feel free to contact me.

 

	12.	Directors’ Liability Indemnity
    and Insurance

 

To the extent
permitted by law, directors are entitled to be indemnified by the company against all costs and liabilities incurred by them in
execution of their duties. A deed of indemnity is included in your appointment pack for signature and return.

 

You will also
have the benefit of any directors’ and officers’ insurance cover maintained from time to time by the company (but this shall
not oblige the company to maintain any such cover either at all, or on current terms).

 

	13.	Independent Professional Advice

 

Occasions may
arise when you consider that you need professional advice in the furtherance of your duties as a director and it will be appropriate
for you to consult independent advisers at the company’s expense. The company will reimburse the full cost of expenditure
incurred.

 

	14.	Disclosure and Dealings in Shares

 

The company
may be required to include in its annual accounts a note of any material interest that a director may have in any transaction
or arrangement that the company has entered into. You must disclose any such interest as soon as possible but no later than the
board meeting at which the transaction or arrangement is first discussed so that the Board can note your interest and, if appropriate,
approve any conflicts. A general notice that you are interested in any contracts with a particular person, firm or company is
acceptable.

    	5

    	

    

During the
continuation of your appointment you will be expected to comply (and to procure that your spouse and any connected persons comply)
where relevant with any rule of law or regulation of any competent authority or of the company from time to time in force in relation
to dealings in shares, debentures and other securities of the company and the unpublished price sensitive information affecting
the shares, debentures and other securities of the company.

 

Details of
the procedure for dealing in shares, together with explanatory notes on the code of market conduct/model code, will be in your
appointment pack.

 

	15.	Shareholdings

 

All directors
are encouraged to hold shares in the company. If you would like to receive whole or part of your monthly fee in shares, we would
be happy to make the necessary arrangements for you.

 

Please acknowledge
receipt and acceptance of the above terms by signing and returning the enclosed copy of this letter.

 

Please do not
hesitate to contact me for any assistance in any matters during the term of your appointment. I look forward to welcoming you
to the Board.

 

Yours sincerely

 

Lord Blackwell

Chairman

Lloyds Banking Group plc

    	6

    	

    

I acknowledge
receipt of the letter dated 26 November 2015 of which this is a copy and accept the terms of appointment.

 

	Signed	/s/ Stuart Sinclair	 
	 	 
	Date	26 November  2015	 

    	7Exhibit

EXHIBIT 10.1.1

EMPLOYERS MUTUAL COMPANIES
REINSURANCE POOLING AGREEMENT
BETWEEN
EMPLOYERS MUTUAL CASUALTY COMPANY
AND
CERTAIN OF ITS AFFILIATED COMPANIES
REWRITTEN EFFECTIVE JANUARY 1, 1987
REINSURANCE POOLING AGREEMENT

This Agreement made by and between Employers Mutual Casualty Company and certain of its affiliated or subsidiary companies such as are signatory hereto by means of exhibits setting forth the interests and liabilities of the parties, attached hereto and made a part of this Agreement.  Employers Mutual Casualty Company is hereinafter referred to as “EMC”, and the other companies signatory hereto are hereinafter referred to as the “Affiliated Companies” or as the "Affiliated Company", as the context requires.

EMC and each Affiliated Company signatory to the Pooling Agreement agree to honor the terms set forth herein as if this Agreement were solely between EMC and each such Affiliated Company.  Balances payable to or recoverable from EMC and any such Affiliated Company shall not serve to offset any balances payable to or recoverable from any other Affiliated Company signatory to this Agreement.  Reports and remittances between EMC and each Affiliated Company shall be in sufficient detail to identify the individual premium and loss obligation of each party to the other.

ARTICLE I

The Companies are engaged in the insurance business and maintain a mutual business relationship having certain incidents of common management, and desire to bring about for each other added economies of operation, uniform underwriting results, diversification as respects the classes of insurance business written, and maximization of capacity.  To accomplish the aforesaid, the Companies do by means of this Agreement, pool all of their insurance business then in force as of 12:01 A.M. of the date signatory hereto, and thereafter to share in the fortunes of their pooled insurance business.

ARTICLE II

EMC hereby reinsures and the Affiliated Company hereby cedes and transfers to EMC all liabilities incurred under or in connections with all contracts and policies of insurance issued by the Affiliated Company outstanding and in force as of 12:01 A.M. of the date signatory hereto, or thereafter issued by it.  Such liabilities shall include the Affiliated Company’s reserves for unearned premiums, outstanding losses and loss expenses (including unreported losses) and all other underwriting and administrative expenses as evidenced by the Affiliated Company’s books and records, but shall not include inter‐company balances, liabilities for Corporate Taxes including Federal or State Income Taxes, or liabilities incurred in connection with their respective investment transactions.

ARTICLE III

The Affiliated Company hereby assigns and transfers to EMC all right, title and interest in and to reinsurance outstanding and in force with respect to the liabilities reinsured by EMC under Article II hereof.

ARTICLE IV

The Affiliated Company assigns and transfers to EMC amounts equal to the aggregate of all of its liabilities reinsured by EMC under Article II hereof, less a commission allowance equal to the prepaid expenses of the Affiliated Company but not in excess of 40 percent of the Affiliated Company’s combined ratio on a trade basis.  Prepaid expenses is defined as those expenses records in column 2, part 4, of the Underwriting and Expense Exhibit of the Affiliated Company’s convention statement.  The trade combined ratio is the ratio of loss and loss adjustment expense to earned premium, plus the ratio of underwriting expenses to premiums written.

179

ARTICLE V

The Affiliated Company hereby reinsures, and EMC hereby cedes and transfers to the Affiliated Company a portion of its net liabilities under all contracts and policies of insurance (including those reinsured by EMC under Article II hereof) on which EMC is subject to liability and which are outstanding and in force as of 12:01 A.M. of the date signatory hereto, or are issued thereafter, in accordance with the exhibit attached hereto to which the Affiliated Company is a signatory party.  Such liabilities shall include reserves for unearned premiums, outstanding losses and loss expenses (including unreported losses) and all other underwriting and administrative expenses, but shall not include inter-company balances, liabilities for Corporate Taxes including Federal or State Income Taxes, or liabilities in connection with investment transactions.

ARTICLE VI

EMC hereby assigns and transfers to the Affiliated Company amounts equal to the aggregate of all liabilities of EMC reinsured by the Affiliated Company under contracts and policies of insurance which are outstanding and in force as of 12:01 A.M. of the date signatory hereto under Article V hereof, less a commission allowance equal to the prepaid expenses of EMC but not in excess of 40 percent of EMC’s combined ratio on a trade basis.  Prepaid expenses is defined as those expenses recorded in column 2, part 4, of the Underwriting and Expense Exhibit of EMC’s convention statement.  The trade combined ratio is the ratio of loss and loss adjustment expense to earned premium, plus the ratio of underwriting expenses to premiums written.

ARTICLE VII

EMC agrees to pay to the Affiliated Company it respective participation of all premiums written by the companies after first deducting premiums on all reinsurance ceded to reinsurers (other than the parties hereto).  Similarly, it is further agreed that all losses, loss expense and other underwriting and administrative expenses (with the exceptions noted in Articles II and V hereof) of the companies, less all losses and expense recovered and recoverable under reinsurance ceded to reinsurers (other than the parties hereto), shall be pro-rated between the parties on the basis of their respective participation as reflected in the aforesaid exhibit.

ARTICLE VIII

The obligation of the companies under this Agreement to exchange reinsurance between themselves may be offset by reciprocal obligation so that the net amount only shall be required to be transferred, except no offset shall be valid under circumstances prohibited by Section 7472, New York Insurance Laws.  An accounting on all transactions shall be rendered quarterly, and the settling of balances shall be made within 30 days after the rendering of the quarterly reports.  Except as otherwise required by the context of this Agreement, the amount of all payments between the companies under this Agreement shall be determined on the basis of the convention form of annual statements of the companies.  Notwithstanding anything herein contained, this Agreement shall not apply to the investment operations of the companies.

ARTICLE IX

The conditions of reinsurance hereunder shall in all cases be identical with the conditions of the original insurance or as changed during the term of insurance.

ARTICLE X

This Agreement is a continuing one and is unlimited as to duration but may be terminated upon mutual consent or by 30 day prior written notice by either party.

180

ARTICLE XI

Each of the companies hereto, as the assuming insurer, hereby agrees that all reinsurance made, ceded, renewed or otherwise becoming effective under this Agreement shall be payable by the assuming insurer on the basis of the liability of the ceding insurer under the policy or contract reinsured without diminution because of insolvency of the ceding insurer; provided that such reinsurance shall be payable directly to the ceding insurer or to its liquidator, receiver or other statutory successor, except as provided by Section 4118 of New York Insurance Law or except (a) where the contract specifically provides another payee for such reinsurance in the event of the insolvency of the ceding insurer and (b) where the assuming insurer, with consent of the direct insured or insureds, has assumed such policy obligations of the ceding insurer as direct obligations of the assuming insurer to the payees under such policies and in substitution for the obligations of the ceding insurer to such payee; and further provided that the liquidator, receiver or statutory successor of the ceding insurer shall give written notice of the pendency of any claim against the insolvent ceding insurer on the policy or contract reinsured within a reasonable time after such claim; and the assuming insurer may investigate such claim and interpose, at its own expense, in the proceeding where such claim is to be adjudicated any defense or defenses which it may deem available to the ceding insurer or it liquidator, receiver or statutory successor, the expense thus incurred by the assuming insurer to be chargeable, subject to court approval against the insolvent ceding insurer as part of the expense of liquidation to the extent of proportionate share of the benefit which may accrue to the ceding insurer solely as a result of the defense undertaken by the assuming insurer.

ARTICLE XII

Each party shall allow the other party to inspect, at reasonable times, the records of the Company relevant to the business reinsured under this Agreement, including files concerning claims, losses, or legal proceedings which involve or are likely to involve the other party.

ARTICLE XIII

		
	A.
	As a condition precedent to any right of action hereunder, any dispute arising out of this Agreement shall be submitted to the decision of a board of arbitration composed of two arbitrators and an umpire, meeting in Des Moines, Iowa, unless otherwise agreed.

		
	B.
	The members of the board of arbitration shall be active or retired disinterested officials of insurance or reinsurance companies.  Each party shall appoint its arbitrator and the two arbitrators shall choose an umpire before instituting the hearing.  If the respondent fails to appoint its arbitrator within four weeks after being requested to do so by the claimant, the latter shall also appoint the second arbitrator.  If the two arbitrators fail to agree upon the appointment of an umpire within four weeks after their nominations, each of them shall name three, of whom the other shall decline two and the decision shall be made by drawing lots.

		
	C.
	The claimant shall submit its initial brief within 20 days from appointment of the umpire.  The respondent shall submit its brief within 20 days after receipt of the claimant's brief and the claimant may submit a reply brief within 10 days after receipt of the respondent's brief.

		
	D.
	The board shall make its decision with regard to the custom and usage of the insurance and reinsurance business.  The board shall issue its decision in writing based upon a hearing in which evidence may be introduced without following strict rules of evidence but in which cross examination and rebuttal shall be allowed.  The board shall make its decision within 60 days following the termination of the hearings unless the parties consent to an extension.  The majority decision of the board shall be final and binding upon all parties to the proceeding.  Judgment may be entered upon the award of the board in any court having  jurisdiction thereof.

		
	E.
	Each party shall bear the expense of its own arbitrator and shall jointly and equally bear with the other party the expense of the umpire.  The remaining costs of the arbitration proceedings shall be allocated by the board.

ARTICLE XIV

By execution of this Agreement, the parties hereto simultaneously terminate any and all reinsurance agreements by and between them heretofore existing, upon the understanding that this Agreement shall supersede and exist in substitution for any such prior agreements.

Executed by the parties hereto the day and year as reflected in the exhibit attached hereto.

181

ADDENDUM #I TO
EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT
BETWEEN
EMPLOYERS MUTUAL CASUALTY COMPANY
AND
CERTAIN OF ITS AFFILIATED COMPANIES

This Pooling Agreement is amended by adding Article XV thereto, with effect from January 1, 1993, as follows:

ARTICLE XV

Notwithstanding the wording of this Agreement as contained in Articles II through VIII, it is agreed and understood that the voluntary reinsurance assumed business written by EMC and heretofore ceded to the Affiliated Companies under this Pooling Agreement, is hereafter not “contracts and policies of insurance” as used in this agreement, and is not business subject to cession and transfer by EMC to the Affiliated Companies.

On January 1, 1993, EMC and the Affiliated Companies shall make such asset and reserve transfers as are required to give effect to the provisions of this Article XV.  

This Pooling Agreement is further amended by substituting “EMC Insurance Companies” for “Employers Mutual Companies” wherever it appears, consistent with and pursuant to action of the Board of Directors effecting this name change.

182

ADDENDUM #II TO
EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT
BETWEEN
EMPLOYERS MUTUAL CASUALTY COMPANY
AND
CERTAIN OF ITS AFFILIATED COMPANIES

This EMC Insurance Companies Reinsurance Pooling Agreement, rewritten effective January 1, 1987, including all Exhibits attached thereto, and as previously amended, is further amended by adding thereto:

ARTICLE XVI

This Agreement, including its attached Addenda, Exhibits, Endorsements and the Amendments thereto, constitutes the entire agreement between the parties hereto, and there are no other oral or written agreements, understandings or undertakings with respect to the subject matter hereof not expressed in this Agreement and its Addenda, Exhibits, Endorsements and the Amendments thereto.

Executed this 24th day of July, 1998.

	
			
	EMPLOYERS MUTUAL CASUALTY COMPANY
	 
	FARM AND CITY INSURANCE COMPANY

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ Bruce G. Kelley

	 
	Bruce G. Kelley
	 
	 
	Bruce G. Kelley

	 
	Its President, Treasurer & CEO
	 
	 
	Its Chairman, Treasurer & CEO

	
			
	AMERICAN LIBERTY INSURANCE COMPANY
	 
	THE HAMILTON MUTUAL INSURANCE COMPANY OF CINCINNATI, OHIO

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ Bruce G. Kelley

	 
	Bruce G. Kelley
	 
	 
	Bruce G. Kelley

	 
	Its Chairman & CEO
	 
	 
	Its Chairman, & CEO

	
			
	DAKOTA FIRE INSURANCE COMPANY
	 
	ILLINOIS EMCASCO INSURANCE COMPANY

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ Bruce G. Kelley

	 
	Bruce G. Kelley
	 
	 
	Bruce G. Kelley

	 
	Its Chairman & CEO
	 
	 
	Its Chairman

	
			
	EMCASCO INSURANCE COMPANY
	 
	UNION INSURANCE COMPANY OF PROVIDENCE

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ Bruce G. Kelley

	 
	Bruce G. Kelley
	 
	 
	Bruce G. Kelley

	 
	Its Chairman, President, Treasurer & CEO
	 
	 
	Its Chairman, Treasurer & CEO

183

ADDENDUM #III TO
EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT
BETWEEN
EMPLOYERS MUTUAL CASUALTY COMPANY
AND
CERTAIN OF ITS AFFILIATED COMPANIES

This EMC Insurance Companies Reinsurance Pooling Agreement, rewritten effective January 1, 1987, including all Exhibits attached thereto, and as previously amended (the “Pooling Agreement”), is further amended by substituting “Union Insurance Company of Providence” for “Union Mutual Insurance Company of Providence” wherever it appears, consistent with and pursuant to actions of the Board of Directors of such Affiliated Company effecting that name change, with the effective date of such name change being March 17, 1994.

This Pooling Agreement is further amended by substituting “EMC Property & Casualty Company” for “American Liberty Insurance Company” wherever it appears, consistent with and pursuant to actions of the Board of Directors of such Affiliated Company effecting that name change, with the effective date of such name change being January 1, 1999.

Executed this 19th day of January, 1999.

	
			
	EMPLOYERS MUTUAL CASUALTY COMPANY
	 
	FARM AND CITY INSURANCE COMPANY

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ Bruce G. Kelley

	 
	Bruce G. Kelley
	 
	 
	Bruce G. Kelley

	 
	Its President, Treasurer & CEO
	 
	 
	Its Chairman, Treasurer & CEO

	
			
	EMC PROPERTY & CASUALTY COMPANY 
(f/k/a American Liberty Insurance Company)
	 
	THE HAMILTON MUTUAL INSURANCE COMPANY OF CINCINNATI, OHIO

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ Bruce G. Kelley

	 
	Bruce G. Kelley
	 
	 
	Bruce G. Kelley

	 
	Its Chairman & CEO
	 
	 
	Its Vice Chairman, & CEO

	
			
	DAKOTA FIRE INSURANCE COMPANY
	 
	ILLINOIS EMCASCO INSURANCE COMPANY

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ Bruce G. Kelley

	 
	Bruce G. Kelley
	 
	 
	Bruce G. Kelley

	 
	Its Chairman & CEO
	 
	 
	Its Chairman

	
			
	EMCASCO INSURANCE COMPANY
	 
	UNION INSURANCE COMPANY OF PROVIDENCE
(f/k/a Union Mutual Insurance Company of Providence)

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ Bruce G. Kelley

	 
	Bruce G. Kelley
	 
	 
	Bruce G. Kelley

	 
	Its Chairman, President, Treasurer & CEO
	 
	 
	Its Chairman, Treasurer & CEO

184

ADDENDUM #IV TO
EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT
BETWEEN
EMPLOYERS MUTUAL CASUALTY COMPANY
AND
CERTAIN OF ITS AFFILIATED COMPANIES

This EMC Insurance Companies Reinsurance Pooling Agreement, rewritten effective January 1, 1987, including all Exhibits attached thereto, and as previously amended, is further amended by adding thereto:

ARTICLE XVII

Notwithstanding the wording of this Agreement as contained in Articles II through VIII, it is agreed and understood that EMC is responsible for the accuracy of the amounts produced by its various systems and computational processes and utilized in the preparation of the financial statements of the Affiliated Companies.  In the event the amounts produced by EMC’s systems and/or computational processes, and relied upon by both EMC and the Affiliated Companies in implementing this Agreement, subsequently prove to be inaccurate or overstated to the extent that a restatement of the financial statements of one or more of the Affiliated Companies would otherwise be required, EMC hereby guarantees to make up the shortfall or difference resulting from such error(s) in its systems and/or computational processes so that no such restatement of the financial statement of any Affiliated Company is required.

Executed this 8th day of March, 2004 but retroactively effective to December 31, 2003.

	
			
	Employers Mutual Casualty Company
	 
	Farm and City Insurance Company

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ Robert C. Morlan

	 
	Bruce G. Kelley
	 
	 
	Robert C. Morlan,

	 
	Its President & CEO
	 
	 
	Its President & COO

	
			
	Dakota Fire Insurance Company
	 
	The Hamilton Mutual Insurance Company of Cincinnati, Ohio

	
					
	By:
	/s/ William A. Murray
	 
	By:
	/s/ William A. Murray

	 
	William A. Murray,
	 
	 
	William A. Murray,

	 
	Its Executive Vice President
	 
	 
	Its Executive Vice President

	
			
	EMC Property & Casualty Company
	 
	Illinois EMCASCO Insurance Company

	
					
	By:
	s/ William A. Murray
	 
	By:
	s/ William A. Murray

	 
	William A. Murray,
	 
	 
	William A. Murray,

	 
	Its Executive Vice President & COO
	 
	 
	Its Vice President and COO

	
			
	EMCASCO Insurance Company
	 
	Union Insurance Company of Providence

	
					
	By:
	/s/ William A. Murray
	 
	By:
	/s/ William A. Murray

	 
	William A. Murray,
	 
	 
	William A. Murray,

	 
	Its Executive Vice President & COO
	 
	 
	Its Vice Chairman & Executive Vice President

185

ADDENDUM #V TO
EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT
BETWEEN
EMPLOYERS MUTUAL CASUALTY COMPANY
AND
CERTAIN OF ITS AFFILIATED COMPANIES

This EMC Insurance Companies Reinsurance Pooling Agreement, rewritten effective January 1, 1987, including all Exhibits attached thereto, and as previously amended, is further amended by deleting Article X in its entirety and substituting therefor the following:

ARTICLE X

This Agreement shall be for a fixed term of three (3) years, and shall not be terminated or further amended prior to December 31, 2007 (the “Initial Term”), absent the occurrence of a material event not in the ordinary course of business that could reasonably be expected to impact the appropriateness of the percentage allocations of EMC’s net liabilities pursuant to Article V of this Agreement, such as the sale, dissolution or suspension of business of an Affiliated Company, or the acquisition by (or affiliation with) EMC of a subsidiary or affiliated company which desires to become a signatory to the Agreement; provided, however, that this Agreement shall be deemed to automatically renew at the end of the Initial Term for an additional term of three (3) years, and every three (3) years thereafter indefinitely (each such term being a “Renewal Term”), without any action by EMC or any Affiliated Company; provided further, however, that during a Renewal Term EMC or any Affiliated Company may terminate its participation in the Agreement effective January 1st of any year by providing at least ninety (90) days written notice to EMC and to each Affiliated Company of such company’s intent to terminate its participation in the Agreement.

Executed this 11th day of October, 2004, but effective January 1, 2005.

	
			
	Employers Mutual Casualty Company
	 
	Farm and City Insurance Company

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ Robert C. Morlan

	 
	Bruce G. Kelley
	 
	 
	Robert C. Morlan,

	 
	Its President & CEO
	 
	 
	Its President & COO

	
			
	Dakota Fire Insurance Company
	 
	The Hamilton Mutual Insurance Company of Cincinnati, Ohio

	
					
	By:
	/s/ William A. Murray
	 
	By:
	/s/ William A. Murray

	 
	William A. Murray,
	 
	 
	William A. Murray,

	 
	Its Executive Vice President
	 
	 
	Its Executive Vice President

	
			
	EMC Property & Casualty Company
	 
	Illinois EMCASCO Insurance Company

	
					
	By:
	s/ William A. Murray
	 
	By:
	s/ William A. Murray

	 
	William A. Murray,
	 
	 
	William A. Murray,

	 
	Its Executive Vice President & COO
	 
	 
	Its Vice President and COO

	
			
	EMCASCO Insurance Company
	 
	Union Insurance Company of Providence

	
					
	By:
	/s/ William A. Murray
	 
	By:
	/s/ William A. Murray

	 
	William A. Murray,
	 
	 
	William A. Murray,

	 
	Its Executive Vice President & COO
	 
	 
	Its Vice Chairman & Executive Vice President

186

ADDENDUM #VI TO
EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT
BETWEEN
EMPLOYERS MUTUAL CASUALTY COMPANY
AND
CERTAIN OF ITS AFFILIATED COMPANIES

This EMC Insurance Companies Reinsurance Pooling Agreement, rewritten effective January 1, 1987, including all Exhibits attached thereto, and as previously amended, is further amended by adding thereto:

ARTICLE XVIII

In the event that one of the Affiliated Companies becomes insolvent or is otherwise subject to liquidation or receivership proceedings, EMC shall adjust the net retained portion of its net liabilities and the other Affiliated Companies shall adjust their assumed portions of the net liabilities of EMC, each on a pro rata basis, so as to collectively absorb or assume in full the assumed portion of the net liabilities of EMC which would otherwise be the responsibility of such impaired Affiliated Company, but for the impairment.  In the event that EMC becomes insolvent or is otherwise subject to liquidation or receivership proceedings, the Affiliated Companies shall, on a pro rata basis, assume the remaining net liabilities of EMC which they had not previously assumed so that, collectively, they are assuming 100% of the net liabilities of EMC.  Notwithstanding the foregoing, however, no change in either EMC’s net retained portion of its net liabilities or any Affiliated Company's assumed portion of the net liabilities of EMC shall occur until EMC and the Affiliated Companies shall have complied with all regulatory requirements applicable to such change(s) under the laws of the states in which EMC or any of the Affiliated Companies are domiciled.

Executed this 11th day of October, 2004, but effective January 1, 2005.

	
			
	Employers Mutual Casualty Company
	 
	Farm and City Insurance Company

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ Robert C. Morlan

	 
	Bruce G. Kelley
	 
	 
	Robert C. Morlan,

	 
	Its President & CEO
	 
	 
	Its President & COO

	
			
	Dakota Fire Insurance Company
	 
	The Hamilton Mutual Insurance Company of Cincinnati, Ohio

	
					
	By:
	/s/ William A. Murray
	 
	By:
	/s/ William A. Murray

	 
	William A. Murray,
	 
	 
	William A. Murray,

	 
	Its Executive Vice President
	 
	 
	Its Executive Vice President

	
			
	EMC Property & Casualty Company
	 
	Illinois EMCASCO Insurance Company

	
					
	By:
	s/ William A. Murray
	 
	By:
	s/ William A. Murray

	 
	William A. Murray,
	 
	 
	William A. Murray,

	 
	Its Executive Vice President & COO
	 
	 
	Its Vice President and COO

	
			
	EMCASCO Insurance Company
	 
	Union Insurance Company of Providence

	
					
	By:
	/s/ William A. Murray
	 
	By:
	/s/ William A. Murray

	 
	William A. Murray,
	 
	 
	William A. Murray,

	 
	Its Executive Vice President & COO
	 
	 
	Its Vice Chairman & Executive Vice President

187

ADDENDUM #VII TO
EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT
BETWEEN
EMPLOYERS MUTUAL CASUALTY COMPANY
AND
CERTAIN OF ITS AFFILIATED COMPANIES

This EMC Insurance Companies Reinsurance Pooling Agreement, rewritten effective January 1, 1987, including all Exhibits attached thereto, and as previously amended, is further amended by adding thereto:

ARTICLE XIX
Notwithstanding the wording of this Agreement as contained in Article VII, it is agreed and understood that all development on prior years’ outstanding losses and loss expenses, whether favorable or adverse, shall be considered to be a component of losses and loss expenses and shall be pro-rated between the parties on the basis of their respective participation.  In addition, it is agreed and understood that all liabilities associated with insurance polices incepted by a party to this Agreement prior to the termination of such party's participation in the Agreement shall remain a part of and subject to this Agreement until such liabilities are legally and conclusively resolved.

Executed this 11th day of October, 2004, but effective January 1, 2005.

	
			
	Employers Mutual Casualty Company
	 
	Farm and City Insurance Company

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ Robert C. Morlan

	 
	Bruce G. Kelley
	 
	 
	Robert C. Morlan,

	 
	Its President & CEO
	 
	 
	Its President & COO

	
			
	Dakota Fire Insurance Company
	 
	The Hamilton Mutual Insurance Company of Cincinnati, Ohio

	
					
	By:
	/s/ William A. Murray
	 
	By:
	/s/ William A. Murray

	 
	William A. Murray,
	 
	 
	William A. Murray,

	 
	Its Executive Vice President
	 
	 
	Its Executive Vice President

	
			
	EMC Property & Casualty Company
	 
	Illinois EMCASCO Insurance Company

	
					
	By:
	s/ William A. Murray
	 
	By:
	s/ William A. Murray

	 
	William A. Murray,
	 
	 
	William A. Murray,

	 
	Its Executive Vice President & COO
	 
	 
	Its Vice President and COO

	
			
	EMCASCO Insurance Company
	 
	Union Insurance Company of Providence

	
					
	By:
	/s/ William A. Murray
	 
	By:
	/s/ William A. Murray

	 
	William A. Murray,
	 
	 
	William A. Murray,

	 
	Its Executive Vice President & COO
	 
	 
	Its Vice Chairman & Executive Vice President

188

ADDENDUM # IX TO
EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT 
BETWEEN
EMPLOYERS MUTUAL CASUALTY COMPANY
AND
CERTAIN OF ITS AFFILIATED COMPANIES

This EMC Insurance Companies Reinsurance Pooling Agreement, rewritten effective January 1, 1987, including all Exhibits attached thereto, and as previously amended, is further amended by deleting Article VIII in its entirety and substituting therefor the following:

ARTICLE VIII

The obligations of the companies under this Agreement may be offset by reciprocal obligations so that the net amount only shall be required to be transferred, except no offset shall be valid under circumstances prohibited by Section 7427, New York Insurance Laws.  An accounting of all transactions shall be rendered quarterly, and the settling of balances shall be made within 45 days after the end of each quarter.  Except as otherwise required by the context of this Agreement, the amount of all payments between the companies under this Agreement shall be determined on the basis of the quarterly statements of the companies.  Notwithstanding anything herein contained, this Agreement shall not apply to the investment and income tax activities of the companies.

Executed this 8th day of November, 2007, but effective September 30, 2007.  

Employers Mutual Casualty Company

	
		
	By:
	/s/ Bruce G. Kelley

	 
	Bruce G. Kelley, Its President and CEO

Dakota Fire Insurance Company

	
		
	By:
	/s/ William A. Murray

	 
	William A. Murray, Its Vice Chairman & Executive Vice President

EMC Property & Casualty Company

	
		
	By:
	/s/ William A. Murray

	 
	William A. Murray, Its Executive Vice President & COO

EMCASCO Insurance Company

	
		
	By:
	/s/ William A. Murray

	 
	William A. Murray, Its Executive Vice President & COO

189

Farm and City Insurance Company

	
		
	By:
	/s/ Robert C. Morlan

	 
	Robert C. Morlan, Its President & COO

Hamilton Mutual Insurance Company

	
		
	By:
	/s/ William A. Murray

	 
	William A. Murray, Its Executive Vice President

Illinois EMCASCO Insurance Company

	
		
	By:
	/s/ William A. Murray

	 
	William A. Murray, Its Vice President & COO

Union Insurance Company of Providence

	
		
	By:
	/s/ William A. Murray

	 
	William A. Murray, Its Vice Chairman & Executive Vice President

190

ADDENDUM #X TO
EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT
BETWEEN
EMPLOYERS MUTUAL CASUALTY COMPANY
AND
CERTAIN OF ITS AFFILIATED COMPANIES

This EMC Insurance Companies Reinsurance Pooling Agreement, rewritten effective January 1, 1987, including all Exhibits attached thereto, and as previously amended, is further amended by adding thereto:

ARTICLE XX

Each party hereto agrees that if, as an assuming insurer, it fails to perform its obligations under the terms of this Agreement, then it, at the request of EMC or any Affiliated Company, will (a) submit to the jurisdiction of any court of competent jurisdiction in any state of the United States, (b) comply with all requirements necessary to give the court jurisdiction, and (c) abide by the final decision of the court or any appellate court if there is an appeal.  For the purpose of achieving authorized reinsurer status in North Carolina pursuant to North Carolina General Statute 58-7-21(b)(3), or any successor provision, each party hereto which is not licensed to transact the business of insurance in the State of North Carolina further designates the Insurance Commissioner (or equivalent elected or appointed official) of the State of North Carolina, or his or her designated attorney, as its true and lawful attorney upon whom may be served any lawful process in any action, suit or proceeding begun by or on behalf of a company which is signatory to this Agreement.

Executed this 28th day of June, 2010, but effective July 1, 2010.  

Employers Mutual Casualty Company

	
		
	By:
	/s/ Bruce G. Kelley

	 
	Bruce G. Kelley, Its President and CEO

Dakota Fire Insurance Company

	
		
	By:
	/s/ William A. Murray

	 
	William A. Murray, Its Vice Chairman & Executive Vice President

EMC Property & Casualty Company

	
		
	By:
	/s/ William A. Murray

	 
	William A. Murray, Its Executive Vice President & COO

191

EMCASCO Insurance Company

	
		
	By:
	/s/ William A. Murray

	 
	William A. Murray, Its Executive Vice President & COO

Hamilton Mutual Insurance Company

	
		
	By:
	/s/ William A. Murray

	 
	William A. Murray, Its Executive Vice President

Illinois EMCASCO Insurance Company

	
		
	By:
	/s/ William A. Murray

	 
	William A. Murray, Its Executive Vice President & COO

Union Insurance Company of Providence

	
		
	By:
	/s/ William A. Murray

	 
	William A. Murray, Its Vice Chairman & Executive Vice President

192

INTEREST AND LIABILITIES EXHIBIT # I
TO EMPLOYERS MUTUAL COMPANIES
REINSURANCE POOLING AGREEMENT

In consideration of the covenants and agreements as reflected in the Reinsurance Pooling Agreement to which this exhibit is attached, by and between EMC and the Affiliated Company which is signatory to this exhibit, EMC hereby cedes and transfers to the Affiliated Company, and the Affiliated Company hereby accepts reinsurance thereon, 2.5% of EMC’s net liabilities, pursuant to Article V, effective January 1, 1987.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the date of this Addendum, as follows:

	
		
	American Liberty Insurance Company
	5.0%

	Dakota Fire Insurance Company
	3.0%

	EMCASCO Insurance Company
	8.0%

	Illinois EMCASCO Insurance Company
	6.0%

	Union Mutual Insurance Company of Providence
	2.5%

	 
	24.5%

	EMC’s Net Retained Portions of its Net Liabilities is
	75.5%

	 
	100.0%

Executed by the parties hereto this 25th day of November, 1986.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Richard E. Haskins

	
	
	Union Mutual Insurance Company of Providence

	
		
	By:
	/s/Robb B. Kelley

193

AMENDMENT #I TO
INTEREST AND LIABILITIES EXHIBIT #I
TO EMPLOYERS MUTUAL COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 1992.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	American Liberty Insurance Company
	5.0%

	Dakota Fire Insurance Company
	5.0%

	EMCASCO Insurance Company
	9.0%

	Illinois EMCASCO Insurance Company
	8.0%

	Union Mutual Insurance Company of Providence
	2.5%

	 
	29.5%

	EMC’s Net Retained Portion of its Net Liabilities is
	70.5%

	 
	100.0%

Executed by the parties hereto this 20th day of December, 1991.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Richard E. Haskins

	
	
	Union Mutual Insurance Company of Providence

	
		
	By:
	/s/Bruce G. Kelley

194

AMENDMENT #II TO
INTERESTS AND LIABILITY EXHIBIT I
TO EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

In consideration of the covenants and agreements as reflected in Addendum #I to the Reinsurance Pooling Agreement to which this Exhibit is attached, EMC and the affiliated company which is signatory to this Exhibit each do hereby ratify Addendum #I as a part of the Pooling Agreement effective from January 1, 1993.

Executed by the parties this 23rd day of December, 1992.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Bruce G. Kelley

	
	
	Union Mutual Insurance Company of Providence

	
		
	By:
	/s/Fred A. Schiek

195

AMENDMENT #III TO
INTEREST AND LIABILITIES EXHIBIT #I
TO EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 1997.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	American Liberty Insurance Company
	5.0%

	Dakota Fire Insurance Company
	5.0%

	EMCASCO Insurance Company
	9.0%

	Hamilton Mutual Insurance Company of Cincinnati, Ohio
	5.0%

	Illinois EMCASCO Insurance Company
	8.0%

	Union Insurance Company of Providence
	2.5%

	 
	34.5%

	EMC’s Net Retained Portion of its Net Liabilities is
	65.5%

	 
	100.0%

Executed by the parties hereto this 26th day of March, 1997.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Bruce G. Kelley

	
		
	Print Name and Title:
	Bruce G. Kelley

	 
	President, Treasurer and CEO

	
	
	Union Insurance Company of Providence

	
		
	By:
	/s/Fred A. Schiek

	
		
	Print Name and Title:
	Fred A. Schiek

	 
	Vice Chairman and Executive V.P.

196

AMENDMENT #IV TO
INTEREST AND LIABILITIES EXHIBIT #I
TO EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 1998.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	American Liberty Insurance Company
	3.5%

	Dakota Fire Insurance Company
	5.0%

	EMCASCO Insurance Company
	9.0%

	Farm and City Insurance Company
	1.5%

	Hamilton Mutual Insurance Company of Cincinnati, Ohio
	5.0%

	Illinois EMCASCO Insurance Company
	8.0%

	Union Insurance Company of Providence
	2.5%

	 
	34.5%

	EMC’s Net Retained Portion of its Net Liabilities is
	65.5%

	 
	100.0%

Executed by the parties hereto this 15th day of January, 1998.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Bruce G. Kelley

	
		
	Print Name and Title:
	Bruce G. Kelley

	 
	President, and CEO

	
	
	Union Insurance Company of Providence

	
		
	By:
	/s/Ronald W. Jean

	
		
	Print Name and Title:
	Ronald W. Jean

	 
	Vice President and Actuary

197

AMENDMENT #V TO
INTEREST AND LIABILITIES EXHIBIT #I 
TO THE EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 2005.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	Dakota Fire Insurance Company
	6.5%

	EMC Property & Casualty Company
	3.5%

	EMCASCO Insurance Company
	12.0%

	Farm and City Insurance Company
	1.5%

	Hamilton Mutual Insurance Company of Cincinnati, Ohio
	5.0%

	Illinois EMCASCO Insurance Company
	10.0%

	Union Insurance Company of Providence
	2.5%

	 
	41.0%

	EMC’s Net Retained Portion of its Net Liabilities is
	59.0%

	 
	100.0%

Executed this 11th day of October, 2004, but effective January 1, 2005.

	
			
	Employers Mutual Casualty Company
	 
	Union Insurance Company of Providence

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ William A. Murray

	 
	(signature)
	 
	 
	(signature)

	 
	 
	 
	 
	 

	 
	Bruce G. Kelley
	 
	 
	William A. Murray

	 
	 
	 
	 
	 

	 
	President and CEO
	 
	 
	Vice Chairman Executive Vice President

	 
	(Print Name and Title)
	 
	 
	(Print Name and Title)

198

AMENDMENT #VI TO
INTEREST AND LIABILITIES EXHIBIT #I 
TO THE EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 2007.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	Dakota Fire Insurance Company
	6.5%

	EMC Property & Casualty Company
	3.5%

	EMCASCO Insurance Company
	12.0%

	Farm and City Insurance Company
	1.5%

	Hamilton Mutual Insurance Company
	2.0%

	Illinois EMCASCO Insurance Company
	10.0%

	Union Insurance Company of Providence
	2.5%

	 
	38.0%

	EMC’s Net Retained Portion of its Net Liabilities is
	62.0%

	 
	100.0%

With the approval of the Iowa Insurance Division (which has been granted because this Amendment will have no effect on the portions of the net liabilities of EMC which are assumed by those Affiliated Companies signatory to this Agreement that are wholly-owned subsidiaries of EMC Insurance Group Inc., a publicly-traded affiliate), the signatories hereto herby waive the provisions of Article X of this Agreement, as amended by Addendum #V to this Agreement (effective January 1, 2005), which would otherwise prohibit any adjustment to EMC’s net retained portion of its net liabilities or any amendment to the Affiliated Companies’ assumed portions of EMC’s net liabilities prior to January 1, 2008.

Executed this 3rd day of January, 2007, but effective January 1, 2007.

	
			
	Employers Mutual Casualty Company
	 
	Union Insurance Company of Providence

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ William A. Murray

	 
	(signature)
	 
	 
	(signature)

	 
	 
	 
	 
	 

	 
	Bruce G. Kelley
	 
	 
	William A. Murray

	 
	 
	 
	 
	 

	 
	President and CEO
	 
	 
	Vice Chairman and Executive Vice President

	 
	(Print Name and Title)
	 
	 
	(Print Name and Title)

199

AMENDMENT #VII TO
INTEREST AND LIABILITIES EXHIBIT #I 
TO THE EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective December 31, 2007.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	Dakota Fire Insurance Company
	6.5%

	EMC Property & Casualty Company
	3.5%

	EMCASCO Insurance Company
	13.5%

	Hamilton Mutual Insurance Company
	2.0%

	Illinois EMCASCO Insurance Company
	10.0%

	Union Insurance Company of Providence
	2.5%

	 
	38.0%

	EMC’s Net Retained Portion of its Net Liabilities is
	62.0%

	 
	100.0%

With the approval of the Iowa Insurance Division (which has been granted because this Amendment will have no effect, in the aggregate, on the portions of the net liabilities of EMC which are assumed by those Affiliated Companies signatory to this Agreement that are wholly-owned subsidiaries of EMC Insurance Group Inc., a publicly-traded affiliate), the signatories hereto hereby waive the provisions of Article X of this Agreement, as amended by Addendum #V to this Agreement (effective January 1, 2005), which would otherwise, in part, prohibit any amendment to the Affiliated Companies' assumed portions of EMC's net liabilities prior to January 1, 2008 (except upon the occurrence of a material event not in the ordinary course of business, in which case not less than 12 months advance written notice is to be given to each participating company of any company’s intent to terminate its participation in the Pooling Agreement).

Executed this 4th day of January, 2008, but effective December 31, 2007.

	
			
	Employers Mutual Casualty Company
	 
	Union Insurance Company of Providence

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ William A. Murray

	 
	(signature)
	 
	 
	(signature)

	 
	 
	 
	 
	 

	 
	Bruce G. Kelley
	 
	 
	William A. Murray

	 
	 
	 
	 
	 

	 
	President and CEO
	 
	 
	Vice Chairman and Executive Vice President

	 
	(Print Name and Title)
	 
	 
	(Print Name and Title)

200

INTEREST AND LIABILITIES EXHIBIT # II
TO EMPLOYERS MUTUAL COMPANIES
REINSURANCE POOLING AGREEMENT

In consideration of the covenants and agreements as reflected in the Reinsurance Pooling Agreement to which this exhibit is attached, by and between EMC and the Affiliated Company which is signatory to this exhibit, EMC hereby cedes and transfers to the Affiliated Company, and the Affiliated Company hereby accepts reinsurance thereon, 3% of EMC’s net liabilities, pursuant to Article V, effective January 1, 1987.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the date of this Addendum, as follows:

	
		
	American Liberty Insurance Company
	5.0%

	Dakota Fire Insurance Company
	3.0%

	EMCASCO Insurance Company
	8.0%

	Illinois EMCASCO Insurance Company
	6.0%

	Union Mutual Insurance Company of Providence
	2.5%

	 
	24.5%

	EMC’s Net Retained Portions of its Net Liabilities is
	75.5%

	 
	100.0%

Executed by the parties hereto this 25th day of November, 1986.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Richard E. Haskins

	
	
	Dakota Fire Insurance Company

	
		
	By:
	/s/Robb B. Kelley

201

AMENDMENT # I TO
INTEREST AND LIABILITIES EXHIBIT # II
TO EMPLOYERS MUTUAL COMPANIES
REINSURANCE POOLING AGREEMENT

In consideration of the covenants and agreements as reflected in the Reinsurance Pooling  Agreement to which this exhibit is attached, by and between EMC and the Affiliated Company which is signatory to this exhibit, EMC hereby cedes and transfers to the Affiliated Company, and the Affiliated Company hereby accepts reinsurance thereon, 5% of EMC’s net liabilities, pursuant to Article V, effective January 1, 1992.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	American Liberty Insurance Company
	5.0%

	Dakota Fire Insurance Company
	5.0%

	EMCASCO Insurance Company
	9.0%

	Illinois EMCASCO Insurance Company
	8.0%

	Union Mutual Insurance Company of Providence
	2.5%

	 
	29.5%

	EMC’s Net Retained Portions of its Net Liabilities is
	70.5%

	 
	100.0%

Executed by the parties hereto this 20th day of December, 1991.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Richard E. Haskins

	
	
	Dakota Fire Insurance Company

	
		
	By:
	/s/Bruce G. Kelley

202

AMENDMENT #II TO 
INTERESTS AND LIABILITY EXHIBIT  II
TO EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

In consideration of the covenants and agreements as reflected in Addendum #I to the Reinsurance Pooling Agreement to which this Exhibit is attached, EMC and the affiliated company which is signatory to this Exhibit each do hereby ratify Addendum #I as a part of the Pooling Agreement effective from January 1, 1993.

Executed by the parties this 23rd day of December, 1992.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Bruce G. Kelley

	
	
	Dakota Fire Insurance Company

	
		
	By:
	/s/Fred A. Schiek

203

AMENDMENT #III TO
INTEREST AND LIABILITIES EXHIBIT #II
TO EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 1997.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	American Liberty Insurance Company
	5.0%

	Dakota Fire Insurance Company
	5.0%

	EMCASCO Insurance Company
	9.0%

	Hamilton Mutual Insurance Company of Cincinnati, Ohio
	5.0%

	Illinois EMCASCO Insurance Company
	8.0%

	Union Insurance Company of Providence
	2.5%

	 
	34.5%

	EMC’s Net Retained Portion of its Net Liabilities is
	65.5%

	 
	100.0%

Executed by the parties hereto this 26th day of March, 1997.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Bruce G. Kelley

	
	
	Dakota Fire Insurance Company

	
		
	By:
	/s/Fred A. Schiek

204

AMENDMENT #IV TO
INTEREST AND LIABILITIES EXHIBIT #II
TO EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 1998.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	American Liberty Insurance Company
	3.5%

	Dakota Fire Insurance Company
	5.0%

	EMCASCO Insurance Company
	9.0%

	Farm and City Insurance Company
	1.5%

	Hamilton Mutual Insurance Company of Cincinnati, Ohio
	5.0%

	Illinois EMCASCO Insurance Company
	8.0%

	Union Insurance Company of Providence
	2.5%

	 
	34.5%

	EMC’s Net Retained Portion of its Net Liabilities is
	65.5%

	 
	100.0%

Executed by the parties hereto this 15th day of January, 1998.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Bruce G. Kelley

	
		
	Print Name and Title:
	Bruce G. Kelley

	 
	President, and CEO

	
	
	Dakota Fire Insurance Company

	
		
	By:
	/s/Ronald W. Jean

	
		
	Print Name and Title:
	Ronald W. Jean

	 
	Vice President and Actuary

205

AMENDMENT #V TO
INTEREST AND LIABILITIES EXHIBIT #II 
TO THE EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 2005.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	Dakota Fire Insurance Company
	6.5%

	EMC Property & Casualty Company
	3.5%

	EMCASCO Insurance Company
	12.0%

	Farm and City Insurance Company
	1.5%

	Hamilton Mutual Insurance Company of Cincinnati, Ohio
	5.0%

	Illinois EMCASCO Insurance Company
	10.0%

	Union Insurance Company of Providence
	2.5%

	 
	41.0%

	EMC’s Net Retained Portion of its Net Liabilities is
	59.0%

	 
	100.0%

Executed this 11th day of October, 2004, but effective January 1, 2005.

	
			
	Employers Mutual Casualty Company
	 
	Dakota Fire Insurance Company

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ William A. Murray

	 
	(signature)
	 
	 
	(signature)

	 
	 
	 
	 
	 

	 
	Bruce G. Kelley
	 
	 
	William A. Murray

	 
	 
	 
	 
	 

	 
	President and CEO
	 
	 
	Executive Vice President

	 
	(Print Name and Title)
	 
	 
	(Print Name and Title)

206

AMENDMENT #VI TO
INTEREST AND LIABILITIES EXHIBIT #II 
TO THE EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 2007.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	Dakota Fire Insurance Company
	6.5%

	EMC Property & Casualty Company
	3.5%

	EMCASCO Insurance Company
	12.0%

	Farm and City Insurance Company
	1.5%

	Hamilton Mutual Insurance Company
	2.0%

	Illinois EMCASCO Insurance Company
	10.0%

	Union Insurance Company of Providence
	2.5%

	 
	38.0%

	EMC’s Net Retained Portion of its Net Liabilities is
	62.0%

	 
	100.0%

With the approval of the Iowa Insurance Division (which has been granted because this Amendment will have no effect on the portions of the net liabilities of EMC which are assumed by those Affiliated Companies signatory to this Agreement that are wholly-owned subsidiaries of EMC Insurance Group Inc., a publicly-traded affiliate), the signatories hereto herby waive the provisions of Article X of this Agreement, as amended by Addendum #V to this Agreement (effective January 1, 2005), which would otherwise prohibit any adjustment to EMC’s net retained portion of its net liabilities or any amendment to the Affiliated Companies’ assumed portions of EMC’s net liabilities prior to January 1, 2008.

Executed this 3rd day of January, 2007, but effective January 1, 2007.

	
			
	Employers Mutual Casualty Company
	 
	Dakota Fire Insurance Company

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ William A. Murray

	 
	(signature)
	 
	 
	(signature)

	 
	 
	 
	 
	 

	 
	Bruce G. Kelley
	 
	 
	William A. Murray

	 
	 
	 
	 
	 

	 
	President and CEO
	 
	 
	Executive Vice President

	 
	(Print Name and Title)
	 
	 
	(Print Name and Title)

207

AMENDMENT #VII TO
INTEREST AND LIABILITIES EXHIBIT #II 
TO THE EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective December 31, 2007.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	Dakota Fire Insurance Company
	6.5%

	EMC Property & Casualty Company
	3.5%

	EMCASCO Insurance Company
	13.5%

	Hamilton Mutual Insurance Company
	2.0%

	Illinois EMCASCO Insurance Company
	10.0%

	Union Insurance Company of Providence
	2.5%

	 
	38.0%

	EMC’s Net Retained Portion of its Net Liabilities is
	62.0%

	 
	100.0%

With the approval of the Iowa Insurance Division (which has been granted because this Amendment will have no effect, in the aggregate, on the portions of the net liabilities of EMC which are assumed by those Affiliated Companies signatory to this Agreement that are wholly-owned subsidiaries of EMC Insurance Group Inc., a publicly-traded affiliate), the signatories hereto hereby waive the provisions of Article X of this Agreement, as amended by Addendum #V to this Agreement (effective January 1, 2005), which would otherwise, in part, prohibit any amendment to the Affiliated Companies' assumed portions of EMC's net liabilities prior to January 1, 2008 (except upon the occurrence of a material event not in the ordinary course of business, in which case not less than 12 months advance written notice is to be given to each participating company of any company’s intent to terminate its participation in the Pooling Agreement).

Executed this 4th day of January, 2008, but effective December 31, 2007.

	
			
	Employers Mutual Casualty Company
	 
	Dakota Fire Insurance Company

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ William A. Murray

	 
	(signature)
	 
	 
	(signature)

	 
	 
	 
	 
	 

	 
	Bruce G. Kelley
	 
	 
	William A. Murray

	 
	 
	 
	 
	 

	 
	President and CEO
	 
	 
	Vice Chairman &Executive Vice President

	 
	(Print Name and Title)
	 
	 
	(Print Name and Title)

208

INTEREST AND LIABILITIES EXHIBIT #III
TO EMPLOYERS MUTUAL COMPANIES
REINSURANCE POOLING AGREEMENT

In consideration of the covenants and agreements as reflected in the Reinsurance Pooling Agreement to which this exhibit is attached, by and between EMC and the Affiliated Company which is signatory to this exhibit, EMC hereby cedes and transfer to the Affiliated Company, and the Affiliated Company hereby accepts reinsurance thereon, 6% of EMC’s net liabilities, pursuant to Article V, effective January 1, 1987.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the date of this Addendum, as follows:

	
		
	American Liberty Insurance Company
	5.0%

	Dakota Fire Insurance Company
	3.0%

	EMCASCO Insurance Company
	8.0%

	Illinois EMCASCO Insurance Company
	6.0%

	Union Mutual Insurance Company of Providence
	2.5%

	 
	24.5%

	EMC’s Net Retained Portions of its Net Liabilities is
	75.5%

	 
	100.0%

Executed by the parties hereto this 25th day of November, 1986.

	
	
	EMPLOYERS MUTUAL CASUALTY COMPANY

	
		
	By:
	/s/Richard E. Haskins

	
	
	ILLINOIS EMCASCO INSURANCE COMPANY

	
		
	By:
	/s/Robb B. Kelley

209

AMENDMENT # I TO
INTEREST AND LIABILITIES EXHIBIT # III
TO EMPLOYERS MUTUAL COMPANIES
REINSURANCE POOLING AGREEMENT

In consideration of the covenants and agreements as reflected in the Reinsurance Pooling Agreement to which this exhibit is attached, by and between EMC and the Affiliated Company which is signatory to this exhibit, EMC hereby cedes and transfers to the Affiliated Company, and the Affiliated Company hereby accepts reinsurance thereon, 8% of EMC’s net liabilities, pursuant to Article V, effective January 1, 1992.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	American Liberty Insurance Company
	5.0%

	Dakota Fire Insurance Company
	5.0%

	EMCASCO Insurance Company
	9.0%

	Illinois EMCASCO Insurance Company
	8.0%

	Union Mutual Insurance Company of Providence
	2.5%

	 
	29.5%

	EMC’s Net Retained Portions of its Net Liabilities is
	70.5%

	 
	100.0%

Executed by the parties hereto this 20th day of December, 1991.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Richard E. Haskins

	
	
	Illinois EMCASCO Insurance Company

	
		
	By:
	/s/Bruce G. Kelley

210

AMENDMENT #II TO 
INTERESTS AND LIABILITY EXHIBIT  III
TO EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

In consideration of the covenants and agreements as reflected in Addendum #I to the Reinsurance Pooling Agreement to which this Exhibit is attached, EMC and the affiliated company which is signatory to this Exhibit each do hereby ratify Addendum #I as a part of the Pooling Agreement effective from January 1, 1993.

Executed by the parties this 23rd day of December, 1992.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Bruce G. Kelley

	
	
	Illinois EMCASCO Insurance Company

	
		
	By:
	/s/Fred A. Schiek

211

AMENDMENT #III TO
INTEREST AND LIABILITIES EXHIBIT #III
TO EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 1997.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	American Liberty Insurance Company
	5.0%

	Dakota Fire Insurance Company
	5.0%

	EMCASCO Insurance Company
	9.0%

	Hamilton Mutual Insurance Company of Cincinnati, Ohio
	5.0%

	Illinois EMCASCO Insurance Company
	8.0%

	Union Insurance Company of Providence
	2.5%

	 
	34.5%

	EMC’s Net Retained Portion of its Net Liabilities is
	65.5%

	 
	100.0%

Executed by the parties hereto this 26th day of March, 1997.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Bruce G. Kelley

	
	
	Illinois EMCASCO Insurance Company

	
		
	By:
	/s/Fred A. Schiek

212

AMENDMENT #IV TO
INTEREST AND LIABILITIES EXHIBIT #III
TO EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 1998.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	American Liberty Insurance Company
	3.5%

	Dakota Fire Insurance Company
	5.0%

	EMCASCO Insurance Company
	9.0%

	Farm and City Insurance Company
	1.5%

	Hamilton Mutual Insurance Company of Cincinnati, Ohio
	5.0%

	Illinois EMCASCO Insurance Company
	8.0%

	Union Insurance Company of Providence
	2.5%

	 
	34.5%

	EMC’s Net Retained Portion of its Net Liabilities is
	65.5%

	 
	100.0%

Executed by the parties hereto this 15th day of January, 1998.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Bruce G. Kelley

	
		
	Print Name and Title:
	Bruce G. Kelley

	 
	President, and CEO

	
	
	Illinois EMCASCO Insurance Company

	
		
	By:
	/s/Ronald W. Jean

	
		
	Print Name and Title:
	Ronald W. Jean

	 
	Vice President and Actuary

213

AMENDMENT #V TO
INTEREST AND LIABILITIES EXHIBIT #III 
TO THE EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 2005.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	Dakota Fire Insurance Company
	6.5%

	EMC Property & Casualty Company
	3.5%

	EMCASCO Insurance Company
	12.0%

	Farm and City Insurance Company
	1.5%

	Hamilton Mutual Insurance Company of Cincinnati, Ohio
	5.0%

	Illinois EMCASCO Insurance Company
	10.0%

	Union Insurance Company of Providence
	2.5%

	 
	41.0%

	EMC’s Net Retained Portion of its Net Liabilities is
	59.0%

	 
	100.0%

Executed this 11th day of October, 2004, but effective January 1, 2005.

	
			
	Employers Mutual Casualty Company
	 
	Illinois EMCASCO Insurance Company

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ William A. Murray

	 
	(signature)
	 
	 
	(signature)

	 
	 
	 
	 
	 

	 
	Bruce G. Kelley
	 
	 
	William A. Murray

	 
	 
	 
	 
	 

	 
	President and CEO
	 
	 
	Executive Vice President and COO

	 
	(Print Name and Title)
	 
	 
	(Print Name and Title)

214

AMENDMENT #VI TO
INTEREST AND LIABILITIES EXHIBIT #III 
TO THE EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 2007.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	Dakota Fire Insurance Company
	6.5%

	EMC Property & Casualty Company
	3.5%

	EMCASCO Insurance Company
	12.0%

	Farm and City Insurance Company
	1.5%

	Hamilton Mutual Insurance Company
	2.0%

	Illinois EMCASCO Insurance Company
	10.0%

	Union Insurance Company of Providence
	2.5%

	 
	38.0%

	EMC’s Net Retained Portion of its Net Liabilities is
	62.0%

	 
	100.0%

With the approval of the Iowa Insurance Division (which has been granted because this Amendment will have no effect on the portions of the net liabilities of EMC which are assumed by those Affiliated Companies signatory to this Agreement that are wholly-owned subsidiaries of EMC Insurance Group Inc., a publicly-traded affiliate), the signatories hereto herby waive the provisions of Article X of this Agreement, as amended by Addendum #V to this Agreement (effective January 1, 2005), which would otherwise prohibit any adjustment to EMC’s net retained portion of its net liabilities or any amendment to the Affiliated Companies’ assumed portions of EMC’s net liabilities prior to January 1, 2008.

Executed this 3rd day of January, 2007, but effective January 1, 2007.

	
			
	Employers Mutual Casualty Company
	 
	Illinois EMCASCO Insurance Company

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ William A. Murray

	 
	(signature)
	 
	 
	(signature)

	 
	 
	 
	 
	 

	 
	Bruce G. Kelley
	 
	 
	William A. Murray

	 
	 
	 
	 
	 

	 
	President and CEO
	 
	 
	Executive Vice President and COO

	 
	(Print Name and Title)
	 
	 
	(Print Name and Title)

215

AMENDMENT #VII TO
INTEREST AND LIABILITIES EXHIBIT #III
TO THE EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective December 31, 2007.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	Dakota Fire Insurance Company
	6.5%

	EMC Property & Casualty Company
	3.5%

	EMCASCO Insurance Company
	13.5%

	Hamilton Mutual Insurance Company
	2.0%

	Illinois EMCASCO Insurance Company
	10.0%

	Union Insurance Company of Providence
	2.5%

	 
	38.0%

	EMC’s Net Retained Portion of its Net Liabilities is
	62.0%

	 
	100.0%

With the approval of the Iowa Insurance Division (which has been granted because this Amendment will have no effect, in the aggregate, on the portions of the net liabilities of EMC which are assumed by those Affiliated Companies signatory to this Agreement that are wholly-owned subsidiaries of EMC Insurance Group Inc., a publicly-traded affiliate), the signatories hereto hereby waive the provisions of Article X of this Agreement, as amended by Addendum #V to this Agreement (effective January 1, 2005), which would otherwise, in part, prohibit any amendment to the Affiliated Companies' assumed portions of EMC's net liabilities prior to January 1, 2008 (except upon the occurrence of a material event not in the ordinary course of business, in which case not less than 12 months advance written notice is to be given to each participating company of any company’s intent to terminate its participation in the Pooling Agreement).

Executed this 4th day of January, 2008, but effective December 31, 2007.

	
			
	Employers Mutual Casualty Company
	 
	Illinois EMCASCO Insurance Company

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ William A. Murray

	 
	(signature)
	 
	 
	(signature)

	 
	 
	 
	 
	 

	 
	Bruce G. Kelley
	 
	 
	William A. Murray

	 
	 
	 
	 
	 

	 
	President and CEO
	 
	 
	Executive Vice President and COO

	 
	(Print Name and Title)
	 
	 
	(Print Name and Title)

216

INTEREST AND LIABILITIES EXHIBIT #IV
TO EMPLOYERS MUTUAL COMPANIES
REINSURANCE POOLING AGREEMENT

In consideration of the covenants and agreements as reflected in the Reinsurance Pooling Agreement to which this exhibit is attached, by and between EMC and the Affiliated Company which is signatory to this exhibit, EMC hereby cedes and transfers to the Affiliated Company, and the Affiliated Company hereby accepts reinsurance thereon, 8% of EMC’s net liabilities, pursuant to Article V, effective January 1, 1987.  The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the date of this Addendum, as follows:

	
		
	American Liberty Insurance Company
	5.0%

	Dakota Fire Insurance Company
	3.0%

	EMCASCO Insurance Company
	8.0%

	Illinois EMCASCO Insurance Company
	6.0%

	Union Mutual Insurance Company of Providence
	2.5%

	 
	24.5%

	EMC’s Net Retained Portions of its Net Liabilities is
	75.5%

	 
	100.0%

Executed by the parties hereto this 25th day of November, 1986.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Richard E. Haskins

	
	
	EMCASCO Insurance Company

	
		
	By:
	/s/Robb B. Kelley

217

AMENDMENT # I TO
INTEREST AND LIABILITIES EXHIBIT #IV
TO EMPLOYERS MUTUAL COMPANIES
REINSURANCE POOLING AGREEMENT

In consideration of the covenants and agreements as reflected in the Reinsurance Pooling Agreement to which this exhibit is attached, by and between EMC and the Affiliated Company which is signatory to this exhibit, EMC hereby cedes and transfers to the Affiliated Company, and the Affiliated Company hereby accepts reinsurance thereon, 9% of EMC’s net liabilities, pursuant to Article V, effective January 1, 1992.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	American Liberty Insurance Company
	5.0%

	Dakota Fire Insurance Company
	5.0%

	EMCASCO Insurance Company
	9.0%

	Illinois EMCASCO Insurance Company
	8.0%

	Union Mutual Insurance Company of Providence
	2.5%

	 
	29.5%

	EMC’s Net Retained Portions of its Net Liabilities is
	70.5%

	 
	100.0%

Executed by the parties hereto this 20th day of December, 1991.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Richard E. Haskins

	
	
	EMCASCO Insurance Company

	
		
	By:
	/s/Bruce G. Kelley

218

AMENDMENT #II TO 
INTERESTS AND LIABILITY EXHIBIT IV
TO EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

In consideration of the covenants and agreements as reflected in Addendum #I to the Reinsurance Pooling Agreement to which this Exhibit is attached, EMC and the affiliated company which is signatory to this Exhibit each do hereby ratify Addendum #I as a part of the Pooling Agreement effective from January 1, 1993.

Executed by the parties this 23rd day of December, 1992.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Bruce G. Kelley

	
	
	EMCASCO Insurance Company

	
		
	By:
	/s/Fred A. Schiek

219

AMENDMENT #III TO
INTEREST AND LIABILITIES EXHIBIT #IV
TO EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 1997.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	American Liberty Insurance Company
	5.0%

	Dakota Fire Insurance Company
	5.0%

	EMCASCO Insurance Company
	9.0%

	Hamilton Mutual Insurance Company of Cincinnati, Ohio
	5.0%

	Illinois EMCASCO Insurance Company
	8.0%

	Union Insurance Company of Providence
	2.5%

	 
	34.5%

	EMC’s Net Retained Portion of its Net Liabilities is
	65.5%

	 
	100.0%

Executed by the parties hereto this 26th day of March, 1997.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Bruce G. Kelley

	
	
	EMCASCO Insurance Company

	
		
	By:
	/s/Fred A. Schiek

220

AMENDMENT #IV TO
INTEREST AND LIABILITIES EXHIBIT #IV
TO EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 1998.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	American Liberty Insurance Company
	3.5%

	Dakota Fire Insurance Company
	5.0%

	EMCASCO Insurance Company
	9.0%

	Farm and City Insurance Company
	1.5%

	Hamilton Mutual Insurance Company of Cincinnati, Ohio
	5.0%

	Illinois EMCASCO Insurance Company
	8.0%

	Union Insurance Company of Providence
	2.5%

	 
	34.5%

	EMC’s Net Retained Portion of its Net Liabilities is
	65.5%

	 
	100.0%

Executed by the parties hereto this 15th day of January, 1998.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Bruce G. Kelley

	
		
	Print Name and Title:
	Bruce G. Kelley

	 
	President, and CEO

	
	
	EMCASCO Insurance Company

	
		
	By:
	/s/Ronald W. Jean

	
		
	Print Name and Title:
	Ronald W. Jean

	 
	Vice President and Actuary

221

AMENDMENT #V TO
INTEREST AND LIABILITIES EXHIBIT #IV 
TO THE EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 2005.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	Dakota Fire Insurance Company
	6.5%

	EMC Property & Casualty Company
	3.5%

	EMCASCO Insurance Company
	12.0%

	Farm and City Insurance Company
	1.5%

	Hamilton Mutual Insurance Company of Cincinnati, Ohio
	5.0%

	Illinois EMCASCO Insurance Company
	10.0%

	Union Insurance Company of Providence
	2.5%

	 
	41.0%

	EMC’s Net Retained Portion of its Net Liabilities is
	59.0%

	 
	100.0%

Executed this 11th day of October, 2004, but effective January 1, 2005.

	
			
	Employers Mutual Casualty Company
	 
	EMCASCO Insurance Company

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ William A. Murray

	 
	(signature)
	 
	 
	(signature)

	 
	 
	 
	 
	 

	 
	Bruce G. Kelley
	 
	 
	William A. Murray

	 
	 
	 
	 
	 

	 
	President and CEO
	 
	 
	Executive Vice President and COO

	 
	(Print Name and Title)
	 
	 
	(Print Name and Title)

222

AMENDMENT #VI TO
INTEREST AND LIABILITIES EXHIBIT #IV 
TO THE EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 2007.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	Dakota Fire Insurance Company
	6.5%

	EMC Property & Casualty Company
	3.5%

	EMCASCO Insurance Company
	12.0%

	Farm and City Insurance Company
	1.5%

	Hamilton Mutual Insurance Company
	2.0%

	Illinois EMCASCO Insurance Company
	10.0%

	Union Insurance Company of Providence
	2.5%

	 
	38.0%

	EMC’s Net Retained Portion of its Net Liabilities is
	62.0%

	 
	100.0%

With the approval of the Iowa Insurance Division (which has been granted because this Amendment will have no effect on the portions of the net liabilities of EMC which are assumed by those Affiliated Companies signatory to this Agreement that are wholly-owned subsidiaries of EMC Insurance Group Inc., a publicly-traded affiliate), the signatories hereto herby waive the provisions of Article X of this Agreement, as amended by Addendum #V to this Agreement (effective January 1, 2005), which would otherwise prohibit any adjustment to EMC’s net retained portion of its net liabilities or any amendment to the Affiliated Companies’ assumed portions of EMC’s net liabilities prior to January 1, 2008.

Executed this 3rd day of January, 2007, but effective January 1, 2007.

	
			
	Employers Mutual Casualty Company
	 
	EMCASCO Insurance Company

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ William A. Murray

	 
	(signature)
	 
	 
	(signature)

	 
	 
	 
	 
	 

	 
	Bruce G. Kelley
	 
	 
	William A. Murray

	 
	 
	 
	 
	 

	 
	President and CEO
	 
	 
	Executive Vice President and COO

	 
	(Print Name and Title)
	 
	 
	(Print Name and Title)

223

AMENDMENT #VII TO
INTEREST AND LIABILITIES EXHIBIT #IV
TO THE EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective December 31, 2007.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	Dakota Fire Insurance Company
	6.5%

	EMC Property & Casualty Company
	3.5%

	EMCASCO Insurance Company
	13.5%

	Hamilton Mutual Insurance Company
	2.0%

	Illinois EMCASCO Insurance Company
	10.0%

	Union Insurance Company of Providence
	2.5%

	 
	38.0%

	EMC’s Net Retained Portion of its Net Liabilities is
	62.0%

	 
	100.0%

With the approval of the Iowa Insurance Division (which has been granted because this Amendment will have no effect, in the aggregate, on the portions of the net liabilities of EMC which are assumed by those Affiliated Companies signatory to this Agreement that are wholly-owned subsidiaries of EMC Insurance Group Inc., a publicly-traded affiliate), the signatories hereto hereby waive the provisions of Article X of this Agreement, as amended by Addendum #V to this Agreement (effective January 1, 2005), which would otherwise, in part, prohibit any amendment to the Affiliated Companies' assumed portions of EMC's net liabilities prior to January 1, 2008 (except upon the occurrence of a material event not in the ordinary course of business, in which case not less than 12 months advance written notice is to be given to each participating company of any company’s intent to terminate its participation in the Pooling Agreement).

Executed this 4th day of January, 2008, but effective December 31, 2007.

	
			
	Employers Mutual Casualty Company
	 
	EMCASCO Insurance Company

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ William A. Murray

	 
	(signature)
	 
	 
	(signature)

	 
	 
	 
	 
	 

	 
	Bruce G. Kelley
	 
	 
	William A. Murray

	 
	 
	 
	 
	 

	 
	President and CEO
	 
	 
	Executive Vice President and COO

	 
	(Print Name and Title)
	 
	 
	(Print Name and Title)

224

INTEREST AND LIABILITIES EXHIBIT #V
TO EMPLOYERS MUTUAL COMPANIES
REINSURANCE POOLING AGREEMENT

In consideration of the covenants and agreements as reflected in the Reinsurance Pooling Agreement to which this exhibit is attached, by and between EMC and the Affiliated Company which is signatory to this exhibit, EMC hereby cedes and transfers to the Affiliated Company, and the Affiliated Company hereby accepts reinsurance thereon, 5% of EMC’s net liabilities, pursuant to Article V, effective January 1, 1987.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the date of this Addendum, as follows:

	
		
	American Liberty Insurance Company
	5.0%

	Dakota Fire Insurance Company
	3.0%

	EMCASCO Insurance Company
	8.0%

	Illinois EMCASCO Insurance Company
	6.0%

	Union Mutual Insurance Company of Providence
	2.5%

	 
	24.5%

	EMC’s Net Retained Portions of its Net Liabilities is
	75.5%

	 
	100.0%

Executed by the parties hereto this 25th day of November, 1986.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Richard E. Haskins

	
	
	American Liberty Insurance Company

	
		
	By:
	/s/Robb B. Kelley

225

AMENDMENT #I TO
INTEREST AND LIABILITIES EXHIBIT #V
TO EMPLOYERS MUTUAL COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 1992.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	American Liberty Insurance Company
	5.0%

	Dakota Fire Insurance Company
	5.0%

	EMCASCO Insurance Company
	9.0%

	Illinois EMCASCO Insurance Company
	8.0%

	Union Mutual Insurance Company of Providence
	2.5%

	 
	29.5%

	EMC’s Net Retained Portions of its Net Liabilities is
	70.5%

	 
	100.0%

Executed by the parties hereto this 20th day of December, 1991.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Richard E. Haskins

	
	
	American Liberty Insurance Company

	
		
	By:
	/s/Bruce G. Kelley

226

AMENDMENT #II TO 
INTERESTS AND LIABILITY EXHIBIT V
TO EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

In consideration of the covenants and agreements as reflected in Addendum #I to the Reinsurance Pooling Agreement to which this Exhibit is attached, EMC and the affiliated company which is signatory to this Exhibit each do hereby ratify Addendum #I as a part of the Pooling Agreement effective from January 1, 1993.

Executed by the parties this 23rd day of December, 1992.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Bruce G. Kelley

	
	
	American Liberty Insurance Company

	
		
	By:
	/s/Fred A. Schiek

227

AMENDMENT #III TO
INTEREST AND LIABILITIES EXHIBIT #V
TO EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 1997.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	American Liberty Insurance Company
	5.0%

	Dakota Fire Insurance Company
	5.0%

	EMCASCO Insurance Company
	9.0%

	Hamilton Mutual Insurance Company of Cincinnati, Ohio
	5.0%

	Illinois EMCASCO Insurance Company
	8.0%

	Union Insurance Company of Providence
	2.5%

	 
	34.5%

	EMC’s Net Retained Portion of its Net Liabilities is
	65.5%

	 
	100.0%

Executed by the parties hereto this 26th day of March, 1997.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Bruce G. Kelley

	
		
	Print Name and Title:
	Bruce G. Kelley

	 
	President, Treasurer and CEO

	
	
	American Liberty Insurance Company

	
		
	By:
	/s/Fred A. Schiek

	
		
	Print Name and Title:
	Fred A. Schiek

	 
	Executive Vice President

228

AMENDMENT #IV TO
INTEREST AND LIABILITIES EXHIBIT #V
TO EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

In consideration of the covenants and agreements reflected in the Reinsurance Pooling Agreement to which this exhibit is attached, by and between EMC and the Affiliated Company which is signatory to this exhibit, EMC herby cedes and transfers to the Affiliated Company, and the Affiliated Company hereby accepts reinsurance thereon, 3.5% of EMC’s net liabilities, pursuant to Article V, effective January 1, 1998.

The affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	American Liberty Insurance Company
	3.5%

	Dakota Fire Insurance Company
	5.0%

	EMCASCO Insurance Company
	9.0%

	Farm and City Insurance Company
	1.5%

	Hamilton Mutual Insurance Company of Cincinnati, Ohio
	5.0%

	Illinois EMCASCO Insurance Company
	8.0%

	Union Insurance Company of Providence
	2.5%

	 
	34.5%

	EMC’s Net Retained Portion of its Net Liabilities is
	65.5%

	 
	100.0%

Executed by the parties hereto this 15th day of January, 1998.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Bruce G. Kelley

	
		
	Print Name and Title:
	Bruce G. Kelley

	 
	President and CEO

	
	
	American Liberty Insurance Company

	
		
	By:
	/s/Ronald W. Jean

	
		
	Print Name and Title:
	Ronald W. Jean

	 
	Vice President and Actuary

229

AMENDMENT #V TO
INTEREST AND LIABILITIES EXHIBIT #V 
TO THE EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 2005.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	Dakota Fire Insurance Company
	6.5%

	EMC Property & Casualty Company
	3.5%

	EMCASCO Insurance Company
	12.0%

	Farm and City Insurance Company
	1.5%

	Hamilton Mutual Insurance Company of Cincinnati, Ohio
	5.0%

	Illinois EMCASCO Insurance Company
	10.0%

	Union Insurance Company of Providence
	2.5%

	 
	41.0%

	EMC’s Net Retained Portion of its Net Liabilities is
	59.0%

	 
	100.0%

Executed this 11th day of October, 2004, but effective January 1, 2005.

	
			
	Employers Mutual Casualty Company
	 
	EMC Property & Casualty Company
(f/k/a American Liberty Insurance Company)

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ William A. Murray

	 
	(signature)
	 
	 
	(signature)

	 
	 
	 
	 
	 

	 
	Bruce G. Kelley
	 
	 
	William A. Murray

	 
	 
	 
	 
	 

	 
	President and CEO
	 
	 
	Executive Vice President and COO

	 
	(Print Name and Title)
	 
	 
	(Print Name and Title)

230

AMENDMENT #VI TO
INTEREST AND LIABILITIES EXHIBIT #V 
TO THE EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 2007.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	Dakota Fire Insurance Company
	6.5%

	EMC Property & Casualty Company
	3.5%

	EMCASCO Insurance Company
	12.0%

	Farm and City Insurance Company
	1.5%

	Hamilton Mutual Insurance Company
	2.0%

	Illinois EMCASCO Insurance Company
	10.0%

	Union Insurance Company of Providence
	2.5%

	 
	38.0%

	EMC’s Net Retained Portion of its Net Liabilities is
	62.0%

	 
	100.0%

With the approval of the Iowa Insurance Division (which has been granted because this Amendment will have no effect on the portions of the net liabilities of EMC which are assumed by those Affiliated Companies signatory to this Agreement that are wholly-owned subsidiaries of EMC Insurance Group Inc., a publicly-traded affiliate), the signatories hereto herby waive the provisions of Article X of this Agreement, as amended by Addendum #V to this Agreement (effective January 1, 2005), which would otherwise prohibit any adjustment to EMC’s net retained portion of its net liabilities or any amendment to the Affiliated Companies’ assumed portions of EMC’s net liabilities prior to January 1, 2008.

Executed this 3rd day of January, 2007, but effective January 1, 2007.

	
			
	Employers Mutual Casualty Company
	 
	EMC Property & Casualty Company

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ William A. Murray

	 
	(signature)
	 
	 
	(signature)

	 
	 
	 
	 
	 

	 
	Bruce G. Kelley
	 
	 
	William A. Murray

	 
	 
	 
	 
	 

	 
	President and CEO
	 
	 
	Executive Vice President and COO

	 
	(Print Name and Title)
	 
	 
	(Print Name and Title)

231

AMENDMENT #VII TO
INTEREST AND LIABILITIES EXHIBIT #V
TO THE EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective December 31, 2007.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	Dakota Fire Insurance Company
	6.5%

	EMC Property & Casualty Company
	3.5%

	EMCASCO Insurance Company
	13.5%

	Hamilton Mutual Insurance Company
	2.0%

	Illinois EMCASCO Insurance Company
	10.0%

	Union Insurance Company of Providence
	2.5%

	 
	38.0%

	EMC’s Net Retained Portion of its Net Liabilities is
	62.0%

	 
	100.0%

With the approval of the Iowa Insurance Division (which has been granted because this Amendment will have no effect, in the aggregate, on the portions of the net liabilities of EMC which are assumed by those Affiliated Companies signatory to this Agreement that are wholly-owned subsidiaries of EMC Insurance Group Inc., a publicly-traded affiliate), the signatories hereto hereby waive the provisions of Article X of this Agreement, as amended by Addendum #V to this Agreement (effective January 1, 2005), which would otherwise, in part, prohibit any amendment to the Affiliated Companies' assumed portions of EMC's net liabilities prior to January 1, 2008 (except upon the occurrence of a material event not in the ordinary course of business, in which case not less than 12 months advance written notice is to be given to each participating company of any company’s intent to terminate its participation in the Pooling Agreement).

Executed this 4th day of January, 2008, but effective December 31, 2007.

	
			
	Employers Mutual Casualty Company
	 
	EMC Property & Casualty Company

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ William A. Murray

	 
	(signature)
	 
	 
	(signature)

	 
	 
	 
	 
	 

	 
	Bruce G. Kelley
	 
	 
	William A. Murray

	 
	 
	 
	 
	 

	 
	President and CEO
	 
	 
	Executive Vice President and COO

	 
	(Print Name and Title)
	 
	 
	(Print Name and Title)

232

INTEREST AND LIABILITIES EXHIBIT #VI
TO EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

In consideration of the covenants and agreements reflected in the Reinsurance Pooling Agreement to which this exhibit is attached, by and between EMC and the Affiliated Company which is signatory to this exhibit, EMC herby cedes and transfers to the Affiliated Company, and the Affiliated Company hereby accepts reinsurance thereon, 5 % of EMC’s net liabilities, pursuant to Article V, effective January 1, 1997.

The affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Addendum, as follows:

	
		
	American Liberty Insurance Company
	5.0%

	Dakota Fire Insurance Company
	5.0%

	EMCASCO Insurance Company
	9.0%

	Hamilton Mutual Insurance Company of Cincinnati, Ohio
	5.0%

	Illinois EMCASCO Insurance Company
	8.0%

	Union Insurance Company of Providence
	2.5%

	 
	34.5%

	EMC’s Net Retained Portion of its Net Liabilities is
	65.5%

	 
	100.0%

Executed by the parties hereto this 26th day of March, 1997.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Bruce G. Kelley

	
		
	Print Name and Title:
	Bruce G. Kelley

	 
	President, Treasurer & CEO

	
	
	The Hamilton Mutual Insurance Company of 
Cincinnati, Ohio

	
		
	By:
	/s/Jeffrey E. Felts

	
		
	Print Name and Title:
	Jeffrey E. Felts

	 
	President & CEO

233

ENDORSEMENT NO. I TO
REINSURANCE POOLING AGREEMENT BETWEEN
HAMILTON MUTUAL INSURANCE COMPANY OF CINCINNATI, OHIO
AND EMPLOYERS MUTUAL CASUALTY COMPANY

Whereas, pursuant to Article XV of the Reinsurance Pooling Agreement (“Agreement”) to which this endorsement is attached, Employers Mutual Casualty Company (“EMC”) retains its voluntary reinsurance assumed business rather than ceding it to the Affiliated Companies (as defined in the Agreement), and because EMC and Hamilton Mutual Insurance Company of Cincinnati, Ohio (“Hamilton Mutual”) concur that similar treatment should be afforded to Hamilton Mutual’s voluntary reinsurance assumed business, it is agreed and understood by the parties hereto that, notwithstanding any language in Article II of the aforesaid Reinsurance Pooling Agreement to the contrary, Hamilton Mutual shall retain all of its obligations incurred under or in connection with any contracts or agreements to which Hamilton Mutual is a party as of the effective date of this endorsement, and under which Hamilton Mutual has assumed or incurred any actual or potential reinsurance liabilities or commitments, and such business shall not be subject to cession and transfer by Hamilton Mutual to EMC.

This contract or endorsement may be terminated only upon mutual agreement of both parties hereto.

Executed by the parties hereto this 26th day of March, 1997, but effective the 1st day of January, 1997.

	
	
	The Hamilton Mutual Insurance Company of 
Cincinnati, Ohio

	
		
	By:
	/s/Jeffrey E. Felts

	 
	(signature)

	
		
	Print Name and Title:
	Jeffrey E. Felts

	 
	President & CEO

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Bruce G. Kelley

	 
	(signature)

	
		
	Print Name and Title:
	Bruce G. Kelley

	 
	President, Treasurer & CEO

234

AMENDMENT #I TO
INTEREST AND LIABILITIES EXHIBIT #VI
TO EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

In consideration of the covenants and agreements as reflected an Addendum #I to the Reinsurance Pooling Agreement to which this Exhibit is attached, EMC and the Affiliated Company which is signatory to this Exhibit each do hereby ratify Addendum #I as a part of the Reinsurance Pooling Agreement effective from January 1, 1997.

Executed by the parties hereto this 26th day of March, 1997.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Bruce G. Kelley

	
		
	Print Name and Title:
	Bruce G. Kelley

	 
	President, Treasurer and CEO

	
	
	The Hamilton Mutual Insurance Company of 
Cincinnati, Ohio

	
		
	By:
	/s/Jeffrey E. Felts

	
		
	Print Name and Title:
	Jeffrey E. Felts

	 
	President and CEO

235

AMENDMENT #II TO
INTEREST AND LIABILITIES EXHIBIT #VI
TO EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 1998.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	American Liberty Insurance Company
	3.5%

	Dakota Fire Insurance Company
	5.0%

	EMCASCO Insurance Company
	9.0%

	Farm and City Insurance Company
	1.5%

	Hamilton Mutual Insurance Company of Cincinnati, Ohio
	5.0%

	Illinois EMCASCO Insurance Company
	8.0%

	Union Insurance Company of Providence
	2.5%

	 
	34.5%

	EMC’s Net Retained Portion of its Net Liabilities is
	65.5%

	 
	100.0%

Executed by the parties hereto the 15th day of January, 1998.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Bruce G. Kelley

	
		
	Print Name and Title:
	Bruce G. Kelley

	 
	President and CEO

	
	
	The Hamilton Mutual Insurance Company of 
Cincinnati, Ohio

	
		
	By:
	/s/Ronald W. Jean

	
		
	Print Name and Title:
	Ronald W. Jean

	 
	Vice President and Actuary

236

AMENDMENT #III TO
INTEREST AND LIABILITIES EXHIBIT #VI 
TO THE EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 2005.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	Dakota Fire Insurance Company
	6.5%

	EMC Property & Casualty Company
	3.5%

	EMCASCO Insurance Company
	12.0%

	Farm and City Insurance Company
	1.5%

	Hamilton Mutual Insurance Company of Cincinnati, Ohio
	5.0%

	Illinois EMCASCO Insurance Company
	10.0%

	Union Insurance Company of Providence
	2.5%

	 
	41.0%

	EMC’s Net Retained Portion of its Net Liabilities is
	59.0%

	 
	100.0%

Executed this 11th day of October, 2004, but effective January 1, 2005.

	
			
	Employers Mutual Casualty Company
	 
	The Hamilton Mutual Insurance Company of Cincinnati, Ohio

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ William A. Murray

	 
	(signature)
	 
	 
	(signature)

	 
	 
	 
	 
	 

	 
	Bruce G. Kelley
	 
	 
	William A. Murray

	 
	 
	 
	 
	 

	 
	President and CEO
	 
	 
	Executive Vice President

	 
	(Print Name and Title)
	 
	 
	(Print Name and Title)

237

AMENDMENT #IV TO
INTEREST AND LIABILITIES EXHIBIT #VI 
TO THE EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 2007.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	Dakota Fire Insurance Company
	6.5%

	EMC Property & Casualty Company
	3.5%

	EMCASCO Insurance Company
	12.0%

	Farm and City Insurance Company
	1.5%

	Hamilton Mutual Insurance Company
	2.0%

	Illinois EMCASCO Insurance Company
	10.0%

	Union Insurance Company of Providence
	2.5%

	 
	38.0%

	EMC’s Net Retained Portion of its Net Liabilities is
	62.0%

	 
	100.0%

With the approval of the Iowa Insurance Division (which has been granted because this Amendment will have no effect on the portions of the net liabilities of EMC which are assumed by those Affiliated Companies signatory to this Agreement that are wholly-owned subsidiaries of EMC Insurance Group Inc., a publicly-traded affiliate), the signatories hereto herby waive the provisions of Article X of this Agreement, as amended by Addendum #V to this Agreement (effective January 1, 2005), which would otherwise prohibit any adjustment to EMC’s net retained portion of its net liabilities or any amendment to the Affiliated Companies’ assumed portions of EMC’s net liabilities prior to January 1, 2008.

Executed this 3rd day of January, 2007, but effective January 1, 2007.

	
			
	Employers Mutual Casualty Company
	 
	The Hamilton Mutual Insurance Company
(f/k/a The Hamilton Mutual Insurance Company of Cincinnati, Ohio)

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ William A. Murray

	 
	(signature)
	 
	 
	(signature)

	 
	 
	 
	 
	 

	 
	Bruce G. Kelley
	 
	 
	William A. Murray

	 
	 
	 
	 
	 

	 
	President and CEO
	 
	 
	Executive Vice President

	 
	(Print Name and Title)
	 
	 
	(Print Name and Title)

238

AMENDMENT #V TO
INTEREST AND LIABILITIES EXHIBIT #VI
TO THE EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective December 31, 2007.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	Dakota Fire Insurance Company
	6.5%

	EMC Property & Casualty Company
	3.5%

	EMCASCO Insurance Company
	13.5%

	Hamilton Mutual Insurance Company
	2.0%

	Illinois EMCASCO Insurance Company
	10.0%

	Union Insurance Company of Providence
	2.5%

	 
	38.0%

	EMC’s Net Retained Portion of its Net Liabilities is
	62.0%

	 
	100.0%

With the approval of the Iowa Insurance Division (which has been granted because this Amendment will have no effect, in the aggregate, on the portions of the net liabilities of EMC which are assumed by those Affiliated Companies signatory to this Agreement that are wholly-owned subsidiaries of EMC Insurance Group Inc., a publicly-traded affiliate), the signatories hereto hereby waive the provisions of Article X of this Agreement, as amended by Addendum #V to this Agreement (effective January 1, 2005), which would otherwise, in part, prohibit any amendment to the Affiliated Companies' assumed portions of EMC's net liabilities prior to January 1, 2008 (except upon the occurrence of a material event not in the ordinary course of business, in which case not less than 12 months advance written notice is to be given to each participating company of any company’s intent to terminate its participation in the Pooling Agreement).

Executed this 4th day of January, 2008, but effective December 31, 2007.

	
			
	Employers Mutual Casualty Company
	 
	Hamilton Mutual Insurance Company

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ William A. Murray

	 
	(signature)
	 
	 
	(signature)

	 
	 
	 
	 
	 

	 
	Bruce G. Kelley
	 
	 
	William A. Murray

	 
	 
	 
	 
	 

	 
	President and CEO
	 
	 
	Executive Vice President

	 
	(Print Name and Title)
	 
	 
	(Print Name and Title)

239

INTEREST AND LIABILITIES EXHIBIT #VII
TO EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

In consideration of the covenants and agreements reflected in the Reinsurance Pooling Agreement to which this exhibit is attached, by and between EMC and the Affiliated Company which is signatory to this exhibit, EMC hereby accepts reinsurance thereon, 1.5% of EMC’s net liabilities, pursuant to Article V, effective January 1, 1998.
 
The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	American Liberty Insurance Company
	3.5%

	Dakota Fire Insurance Company
	5.0%

	EMCASCO Insurance Company
	9.0%

	Farm and City Insurance Company
	1.5%

	Hamilton Mutual Insurance Company of Cincinnati, Ohio
	5.0%

	Illinois EMCASCO Insurance Company
	8.0%

	Union Insurance Company of Providence
	2.5%

	 
	34.5%

	EMC’s Net Retained Portion of its Net Liabilities is
	65.5%

	 
	100.0%

Executed by the parties hereto this 15th day of January, 1998.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Bruce G. Kelley

	
		
	Print Name and Title:
	Bruce G. Kelley

	 
	President and CEO

	
	
	Farm and City Insurance Company

	
		
	By:
	/s/Ronald W. Jean

	
		
	Print Name and Title:
	Ronald W. Jean

	 
	Vice President and Actuary

240

AMENDMENT #I TO
INTEREST AND LIABILITIES EXHIBIT #VII
TO EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

In consideration of the covenants and agreements as reflected in Addendum #I to the Reinsurance Pooling Agreement to which this Exhibit is attached, EMC and the Affiliated Company which is signatory to this Exhibit each do hereby ratify Addendum #I as a part of the Reinsurance Pooling Agreement effective from January 1, 1998.

Executed by the parties hereto this 15th day of January, 1998.

	
	
	Employers Mutual Casualty Company

	
		
	By:
	/s/Bruce G. Kelley

	
		
	Print Name and Title:
	Bruce G. Kelley

	 
	President and CEO

	
	
	Farm and City Insurance Company

	
		
	By:
	/s/Ronald W. Jean

	
		
	Print Name and Title:
	Ronald W. Jean

	 
	Vice President and Actuary

241

 AMENDMENT #II TO
INTEREST AND LIABILITIES EXHIBIT #VII 
TO THE EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 2005.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	Dakota Fire Insurance Company
	6.5%

	EMC Property & Casualty Company
	3.5%

	EMCASCO Insurance Company
	12.0%

	Farm and City Insurance Company
	1.5%

	Hamilton Mutual Insurance Company of Cincinnati, Ohio
	5.0%

	Illinois EMCASCO Insurance Company
	10.0%

	Union Insurance Company of Providence
	2.5%

	 
	41.0%

	EMC’s Net Retained Portion of its Net Liabilities is
	59.0%

	 
	100.0%

Executed this 11th day of October, 2004, but effective January 1, 2005.

	
			
	Employers Mutual Casualty Company
	 
	Farm and City Insurance Company

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ Robert G. Morlan

	 
	(signature)
	 
	 
	(signature)

	 
	 
	 
	 
	 

	 
	Bruce G. Kelley
	 
	 
	Robert G. Morlan

	 
	 
	 
	 
	 

	 
	President and CEO
	 
	 
	President and COO

	 
	(Print Name and Title)
	 
	 
	(Print Name and Title)

242

AMENDMENT #III TO
INTEREST AND LIABILITIES EXHIBIT #VII 
TO THE EMC INSURANCE COMPANIES
REINSURANCE POOLING AGREEMENT

This Amendment is effective January 1, 2007.

The Affiliated Companies signatory to this Agreement and their assumed portions of the net liabilities of EMC are, as of the effective date of this Amendment, as follows:

	
		
	Dakota Fire Insurance Company
	6.5%

	EMC Property & Casualty Company
	3.5%

	EMCASCO Insurance Company
	12.0%

	Farm and City Insurance Company
	1.5%

	Hamilton Mutual Insurance Company
	2.0%

	Illinois EMCASCO Insurance Company
	10.0%

	Union Insurance Company of Providence
	2.5%

	 
	38.0%

	EMC’s Net Retained Portion of its Net Liabilities is
	62.0%

	 
	100.0%

With the approval of the Iowa Insurance Division (which has been granted because this Amendment will have no effect on the portions of the net liabilities of EMC which are assumed by those Affiliated Companies signatory to this Agreement that are wholly-owned subsidiaries of EMC Insurance Group Inc., a publicly-traded affiliate), the signatories hereto herby waive the provisions of Article X of this Agreement, as amended by Addendum #V to this Agreement (effective January 1, 2005), which would otherwise prohibit any adjustment to EMC’s net retained portion of its net liabilities or any amendment to the Affiliated Companies’ assumed portions of EMC’s net liabilities prior to January 1, 2008.

Executed this 3rd day of January, 2007, but effective January 1, 2007.

	
			
	Employers Mutual Casualty Company
	 
	Farm and City Insurance Company

	
					
	By:
	/s/ Bruce G. Kelley
	 
	By:
	/s/ Robert C. Morlan

	 
	(signature)
	 
	 
	(signature)

	 
	 
	 
	 
	 

	 
	Bruce G. Kelley
	 
	 
	Robert C. Morlan

	 
	 
	 
	 
	 

	 
	President and CEO
	 
	 
	President and COO

	 
	(Print Name and Title)
	 
	 
	(Print Name and Title)

243

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