Document:

Exhibit 10.2 Ameren 2007 Deferred Compensation Plan for Board of Directors

    Exhibit
      10.2

    AMEREN

    DEFERRED
      COMPENSATION PLAN

    FOR
      MEMBERS OF THE BOARD OF DIRECTORS

    2007
      Document

    

    WHEREAS,
      Ameren Corporation (“Ameren”) previously established the Ameren Corporation
      Deferred Compensation Plan for Members of the Board of Directors (“Plan”);
      and

    

    WHEREAS,
      effective January 1, 2007, Ameren desires to amend and restate the portion
      of
      the Plan which is subject to Section 409A of the Internal Revenue Code of 1986,
      as amended (“Code”) to make certain changes;

     

    NOW,
      THEREFORE, effective January 1, 2007, the portion of the Plan which is subject
      to Code Section 409A is amended, restated and renamed as follows:

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

    

     

    

    AMEREN

     

    DEFERRED
      COMPENSATION PLAN

     

    FOR
      MEMBERS OF THE BOARD OF DIRECTORS

     

    2007
      Document

    

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    AMEREN

    

    DEFERRED
      COMPENSATION PLAN FOR MEMBERS

    

    OF
      THE BOARD OF DIRECTORS

    

    2007
      DOCUMENT

    

    

    
      	1.  	
              PURPOSE

            

    

    

    The
      purpose of the Ameren Deferred Compensation Plan for Members of the Board of
      Directors (“Plan”) is to provide members of the Board of Directors of Ameren
      Corporation (“Ameren”) with the opportunity to accumulate capital and postpone
      the income taxes thereon by deferring the receipt of up to 100 percent of their
      Director’s Retainer Fee and/or Meeting Stipends. Participation in the Plan is
      voluntary. The Plan is administered by Ameren Services Company (“the
      Company”).

    

    Effective
      January 1, 2005, Ameren began administering the Plan to the extent necessary
      to
      incorporate requirements of Section 409A of the Internal Revenue Code of 1986,
      as amended (“Code”). Deferred Amounts which were nonforfeitable as of December
      31, 2004 shall be “grandfathered” and shall be governed by the Pre-2005
      Document. Deferred Amounts credited to a Participant’s Deferral Account on or
      after January 1, 2007 shall be governed by the provisions of this
      document.

    

    
      	2.  	
              DEFINITIONS

            

    

    

    Certain
      words and phrases are defined when first used in later paragraphs of the Plan.
      In addition, the following words and phrases when used herein, unless the
      context clearly requires otherwise, shall have the following respective
      meanings:

    

    
      	A.  
               	
              Deferral
                Account:
                Book entries reflecting each Participant’s Deferred Amounts and Interest
                credited thereon pursuant to the provisions of Section 6. A separate
                Deferral Account shall be maintained for each Deferral Commitment
                commenced hereunder.

            

    

    

    
      	B.   
               	
              Deferral
                Commitment:
                The sum of Director Retainer Fee and/or Meeting Stipend deferrals
                to which
                the Participant obligates himself pursuant to the provisions of Section
                4.

            

    

    

    
      	C.  
                	
              Deferred
                Amount:
                The amount of Director’s Retainer Fees and Meeting Stipends which a
                Participant elects to defer pursuant to the provisions of the
                Plan.

            

    

    

    
      	D.  
                	
              Director's
                Retainer Fee:
                The monthly fee paid to a Participant in his capacity as a member
                of the
                Board of Directors of Ameren or a committee thereof (including for
                service
                as lead director or committee chairperson), exclusive of any other
                amounts
                paid by Ameren.

            

    

     

     

    
      
        
        

      

      
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      	E. 
                	
              Effective
                Date:
                August 1, 1986.

            

    

    

    
      	F. 
                	
              Interest:
                The amount of Interest which a Participant shall be deemed to earn
                on his
                Deferred Amounts and which shall be credited to his Deferral Account
                as
                determined pursuant to Section 7.

            

    

    

    
      	G.  
               	
              Meeting
                Stipend:
                The amount paid to the Director for attending Board and Board committee
                meetings.

            

    

    

    
      	H.  
               	
              Participant:
                Any member of the Board of Directors of Ameren who elects or has
                elected
                to defer a portion of his Director’s Retainer Fee and/or Meeting Stipend
                pursuant to the provisions of the Plan, and for whom the Company
                maintains
                one or more Deferral Accounts pursuant to the provisions of the
                Plan.

            

    

    

    Effective
      January 1, 1998, upon termination of the CIPS and CIPSCO Director’s Deferred
      Compensation Plans and the Director’s Retirement Plans, a board member whose
      balance was transferred from these terminated plans into this Ameren Deferred
      Compensation Plan for Members of the Board of Directors immediately became
      a
      participant in the Plan on such transfer date. 

    

    
      	I.  
               	
              Plan:
                The Ameren Deferred Compensation Plan for Members of the Board of
                Directors, as revised and restated.

            

    

    

    
      	J. 
                	
              Plan
                Year:
                The 12-month period commencing January 1 and ending on December 31,
                except
                in the case of the 1986 Plan Year in which case the 5-month period
                commencing August 1, 1986 and ending on December 31,
                1986.

            

    

    

    
      	K.   	
              Retirement:
                Ceasing to be a member of the Board of Directors of Ameren for any
                reason
                after attainment of at least age
                55.

            

    

    

             
      3.  ELIGIBILITY

    

    Members
      of the Board of Directors of Ameren who are receiving a Director’s Retainer Fee
      and/or Meeting Stipend from Ameren shall be eligible to participate in the
      Plan.
      Any individual who is eligible to participate in the Plan may become a
      Participant by commencing a Deferral Commitment.

    

    
      	4.  	
              COMMENCING
                A DEFERRAL COMMITMENT

            

    

    

    A.     
      Maximum
      Deferrals:

    

    A
      Participant may commence a Deferral Commitment by making an election to defer
      a
      percentage of his Director’s Retainer Fee and/or his Meeting Stipend in the
      manner set forth in Section 5. A Participant may defer a percentage of his
      Director’s Retainer Fee and/or Meeting Stipend up to a maximum of 100 percent.

    

    
      
        
        

      

      
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    B.      
      Irrevocability
      of Deferral Commitment:

    

    During
      a
      Plan Year, a Deferral Commitment shall be irrevocable, and the deferral
      percentage elected by the Participant thereunder shall not be increased or
      decreased.

    

    C.      
      Term
      of Deferral Commitment:

    

    The
      term
      of a Deferral Commitment shall be the Plan Year. 

    

    D.      
      Crediting
      of Deferred Amounts:

    

    The
      Participant’s Deferred Amounts shall be credited to his Deferral Account by no
      later than the end of the month in which such amounts would, but for such
      deferral, be payable to the Participant.

    

    
      	5.  	
              TERMS
                OF DEFERRAL ELECTION

            

    

    

    A
      written
      deferral election for a Plan Year shall indicate: (a) the percentage amount
      the
      Participant is electing to defer under the Plan; (b) whether the Participant
      wishes to defer his Director’s Retainer Fee, his Director’s Meeting Stipend or
      both; and (c) the method of distribution of such amounts, as permitted under
      Section 8. Such election form shall be filed by the Participant with the Company
      by no later than the last date specified by the Company for such filing. Such
      election shall be effective on the first day of the next Plan Year. In the
      case
      of a Participant who becomes eligible during a Plan Year, an election to defer
      may be made within 30 days after the date he or she becomes eligible to
      participate in the Plan (and any other “plan” (as defined in Treasury
      Regulations promulgated under Code Section 409A) of deferred compensation)
      with
      respect to services to be performed subsequent to the election, which shall
      be
      irrevocable during such initial year of participation. Such election shall
      be
      effective no earlier than the first day of the month following the date he
      or
      she becomes a member of the Board of Directors of Ameren.

    

    
      	6.  	
              PARTICIPANT
                DEFERRAL ACCOUNT

            

    

    

    There
      shall be established a Deferral Account in the name of each Participant who
      elects to defer his Director’s Retainer Fee and/or Meeting Stipend by commencing
      a Deferral Commitment under the provisions of the Plan. A separate Deferral
      Account will be maintained for each Deferral Commitment commenced by each
      Participant. The Deferral Account shall reflect the value of the Participant's
      Deferred Amounts plus Interest credited thereon with respect to the specific
      Deferral Commitment. The records for each Deferral Account maintained by the
      Company for the Participant shall be available for inspection by the Participant
      at reasonable times, and the Company shall make available to the Participant
      a
      statement indicating the aggregate amount credited to each of the Participant’s
      Deferral Accounts and the value of each such Deferral Account.

     

    
      
        
        

      

      
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      	7.  	
              INTEREST
                ON DEFERRED AMOUNTS

            

    

    

    Interest
      calculated at the rate or rates, as hereinafter described, shall accrue from
      the
      date deferrals are credited to the Participant’s Deferral Account and shall be
      compounded annually and credited to the Participant’s Deferral Account as of the
      last business day of each Plan Year (or as of such other dates as determined
      by
      the Company) for which the Participant has a Deferral Account balance. While
      the
      Participant is a member of the Board of Directors of Ameren, the Participant’s
      Deferral Account balance shall earn Interest at the “Plan Interest Rate.” After
      Retirement from the Board of Directors or following the death of the
      Participant, the Participant’s Deferral Account balance shall earn Interest at
      the “Base Interest Rate.”

    

    Interest
      rates are calculated annually as of the first day of the Plan Year. The “Plan
      Interest Rate” for any Plan Year shall be 150 percent of the average Mergent’s
      Seasoned AAA Corporate Bond Yield Index (“Mergent’s Index”, formerly called
“Moody’s Index”) for the previous calendar year. 

    

    The
“Base
      Interest Rate” for any Plan Year shall be equal to the average Mergent’s Index
      for the previous calendar year.

    

    
      	8.  	
              DISTRIBUTION
                AT RETIREMENT

            

    

    

    Upon
      Retirement, the balance of each of a Participant’s Deferral Accounts shall be
      distributed to the Participant, each according to the pay-out method selected
      by
      the Participant, beginning no later than the first day of the first month
      following the month in which the Participant’s Retirement occurs. In the event
      the balances of one or more of the Participant’s Deferral Accounts are to be
      distributed as a single lump sum, such distribution shall take place no later
      than the first day of the first month following the month in which the
      Participant’s Retirement occurs.

    

    A.          
      Distribution
      Alternatives:

    

    At
      the
      time that a Participant makes an election to defer his Director’s Retainer Fee
      and/or Meeting Stipends under the Plan, the Participant shall select a method
      for the distribution of the balance of that Deferral Account at Retirement
      by
      choosing one of the following alternative methods of distribution:

    

    
      	1.           
               	
              The
                balance of Participant’s Deferral Account to be distributed in a single
                lump sum.

            

    

    

    
      	2.           
               	
              The
                balance of the Participant’s Deferral Account to be distributed in
                substantially equal payments over a period of 5 years commencing
                at
                Retirement.

            

    

    

    
      	3.           
               	
              The
                balance of the Participant’s Deferral Account to be distributed in
                substantially equal installments over a period of 10 years commencing
                at
                Retirement.

            

    

    

    
      	4.           
               	
              The
                balance of the Participant’s Deferral Account to be distributed in
                substantially equal installments over a period of 15 years commencing
                at
                Retirement.

            

    

     

    
 

    
      
        
        

      

      
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    (Methods
      2 through 4 shall be payable either in monthly or annual installments as elected
      by the Participant or his beneficiary.)

    

    B.           
       Subsequent
      Election Changes:

     

    
      	 	
              In
                accordance with the procedures established by the Company, a Participant
                may elect to change his method of distribution with respect to Deferral
                Commitments related to years prior to 2008, with respect to amounts
                not
                otherwise payable in 2007, if such an election is made no later than
                December 31, 2007.

            

    

    

    
      	 	
              On
                and after January 1, 2008, a Participant may elect to change his
                method of
                distribution with respect to one or more Deferral Accounts in accordance
                with rules established by the Company. If a Participant makes such
                election, then (a) such election shall not take effect until at least
                12
                months after the date on which such election is made, and submitted
                to the
                Company; (b) the first payment with respect to which such election
                is made
                shall be deferred for a period of not less than 5 years from the
                date such
                payment would otherwise have been made; (c) any election related
                to a
                payment that was otherwise to be made at a specified time may not
                be made
                less than 12 months prior to the date of the first scheduled payment;
                and
                (d) with respect to a change in payment form, such change may not
                impermissibly accelerate the time or schedule of any payment under
                the
                Plan, except as provided in regulations promulgated by the Secretary
                of
                Treasury.

            

    

    

    
      	9.   	
              TERMINATION
                PRIOR TO BECOMING ELIGIBLE FOR
                RETIREMENT

            

    

    

    
      	   
              A.	
              General:

            

    

    

    Except
      as
      described in Paragraph B below, in the event that a Participant ceases to be
      a
      member of the Board of Directors after completing one or more Deferral
      Commitments but prior to becoming eligible for Retirement, the balance of the
      Participant’s corresponding Deferral Account(s) shall be distributed in a single
      sum to the Participant no later than 30 days after the date the Participant
      ceases to be a member of the Board of Directors.

    

    
      	B.	
              Change
                of Control:

            

    

    

    In
      the
      event that a Participant ceases to be a member of the Board of Directors after
      completing one or more Deferral Commitments but prior to becoming eligible
      for
      Retirement and after the occurrence of a Change of Control, the balance of
      the
      Participant’s Deferral Account(s), including Interest calculated at the Plan
      Interest Rate, shall be distributed in a single sum to the Participant no later
      than 30 days after the date the Participant ceases to be a member of the Board
      of Directors. For the purposes of this Paragraph, Change of Control shall have
      the same meaning that it has in the Amended and Restated Ameren Corporation
      Change of Control Severance Plan.

    

    
      	10.  	
              TOTAL
                DISABILITY OF
                PARTICIPANT

            

    

    

    In
      the
      event that it is determined by a duly licensed physician selected by the Company
      that, because of ill health, accident or other disability, a Participant is
      no
      longer able, properly and satisfactorily, to perform his regular duties and
      responsibilities as a member of the Board of 

     

     

    
      
        
        

      

      
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    Directors,
      the Company shall commence distribution of
      the Participant’s Deferral Account(s) according to the method(s) of distribution
      selected by the Participant pursuant to Section 8 no later than the tenth day
      of
      the first month following the date of the physician’s disability determination,
      but only if the Participant is disabled within the meaning of Code Section
      409A(a)(2)(C).

     

    
      	11.  	
              DEATH
                OF PARTICIPANT 

            

    

    

    A.            Prior
      to Retirement

    

    
      	 	
              In
                the event of the Participant’s death prior to his Retirement, the Company
                shall commence distribution of the Participant’s Deferral Account(s) to
                the Participant’s designated beneficiary(ies) according to the method(s)
                selected by the Participant pursuant to Section 8 as soon as
                administratively feasible but no later than 30 days after the month
                in
                which the Participant’s death
                occurs.

            

    

    

    
      	B.           
               	
              After
                Retirement

            

    

    

    
      	 	
              In
                the event of the Participant’s death after Retirement, the Company shall
                continue to make distributions over the remainder of the period(s)
                that
                would have been applicable to the Participant had he survived except
                that
                such continuing distributions shall be made to the Participant’s
                designated beneficiary(ies).

            

    

    

    
      	12.  	
              HARDSHIP
                DISTRIBUTIONS

            

    

    

    In
      the
      event that a Participant (or in the case of the Participant’s death, his
      beneficiary) suffers a Financial Hardship, the Company may, if it deems
      advisable in its sole and absolute discretion, distribute on behalf of the
      Participant or his beneficiary, any portion of the Participant’s Deferral
      Account(s), but in no event more than the amount reasonably necessary to relieve
      the Financial Hardship upon which the request is based, plus the federal and
      state taxes due on the withdrawal, as determined by the Company. Any such
      hardship distribution shall be made at such times as the Company shall
      determine, and the Participant’s Deferral Account(s) shall be reduced by the
      amount so distributed and/or utilized. Financial Hardship means a severe
      financial hardship to a Participant resulting from an illness or accident of
      the
      Participant, his or her spouse or a dependent (as defined in Code Section
      152(a)) of the Participant, loss of the Participant’s property due to casualty,
      or other similar extraordinary and unforeseeable circumstances arising as a
      result of events beyond the control of the Participant.

    

    
      	13.  	
              DESIGNATION
                OF BENEFICIARY

            

    

    

    The
      Participant shall designate in writing, on a form to be furnished by the
      Company, one or more primary and/or secondary beneficiaries who shall receive
      distributions otherwise payable to the Participant or as otherwise authorized
      by
      the Plan, and such beneficiary designation shall be controlling with respect
      to
      all Deferral Accounts such Participant may have pursuant to the provisions
      of
      the Plan. The Participant’s spouse, if any, must consent in writing to the
      designation of a primary beneficiary(ies) other than such spouse as the sole
      primary beneficiary. Subject to the requirement of the preceding sentence,
      the
      Participant 

     

     

    
      
        
        

      

      
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    shall
      have the right, at any time and for any reason, to submit a revised designation
      of beneficiary. Such revised designation of beneficiary shall become effective
      provided it is delivered to the Company prior to the death of such Participant,
      and it shall supersede all prior designations of beneficiary submitted by the
      Participant. A beneficiary may be a natural person or an entity (such as a
      trust
      or a charitable organization).

    

    If
      no
      designation of beneficiary has been received by the Company from the Participant
      prior to his death, or if the beneficiary(ies) designated by the Participant
      has
      not survived the Participant or cannot otherwise be located by the Company
      within a reasonable period of time, distributions shall be made to the person
      or
      persons in the first of the following classes of successive
      preference:

     

    
      	1.  	
              The
                Participant’s lawful spouse.

            

    

    

    
      	2.  	
              The
                Participant’s surviving children,
                equally.

            

    

    

    
      	3.  	
              The
                Participant’s surviving parents,
                equally.

            

    

    

    
      	4.  	
              The
                Participant’s surviving brothers and sisters,
                equally.

            

    

    

    
      	5.  	
              The
                Participant’s personal representative(s), executor(s) or
                administrator(s).

            

    

    

    If
      the
      Participant’s beneficiary is in payment status and subsequently dies prior to
      receiving his/her final payment under the Plan, all remaining payments (except
      for any applicable survivor benefit payments as outlined in Section 13) will
      be
      made to the Participant’s secondary beneficiary, as elected prior to the
      Participant’s death. If no secondary beneficiary designation was received by the
      Company from the Participant prior to his death, or if the secondary
      beneficiary(ies) designated by the Participant is no longer living or cannot
      otherwise be located by the Company within a reasonable period of time, all
      remaining distributions shall be determined in the order outlined in the
      preceding paragraph.

    

    
      	14.  	
              PAYMENTS
                TO MINORS OR
                INCOMPETENTS

            

    

    

    Whenever,
      in the Company’s opinion, a person entitled to receive any payment under the
      Plan is a minor, is under a legal or other disability or is so incapacitated
      as
      to be unable to manage his financial affairs, a distribution may be made to
      such
      person or to his legal representative or to a relative or friend of such person
      for his benefit, or for the benefit of such person in whatever manner the
      Company considers advisable. Any payment of a benefit in accordance with the
      provisions of this Section shall be a complete discharge of any liability for
      the making of such payment under the provisions of the Plan.

    

    
      	15.  	
              ADMINISTRATION

            

    

    

    Except
      as
      specified otherwise in the Plan, the Company shall have full power and
      discretion to administer, construe and interpret the Plan. Any authorized action
      or decision under the provisions of the Plan undertaken by the Company arising
      out of, or in connection with the administration, construction, interpretation
      or effect of the Plan, or recommendations in accordance therewith, or any rules
      and regulations adopted by the Company shall be 

     

    
      
        
        

      

      
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    conclusive
      and binding on all Participants and their beneficiaries and all other persons
      whosoever.

    

    
      	16.  	
              MISCELLANEOUS

            

    

    

    
      	A.  
               	
              Right
                of Setoff:
                If, at such time as the Participant becomes entitled to distributions
                hereunder, the Participant has any debt, obligation or other liability
                representing an amount owing to Ameren, and if such debt, obligation,
                or
                other liability is due and owing at the time that distributions are
                payable hereunder, Ameren Services may offset the amount owing it
                against
                the amount otherwise distributable
                hereunder.

            

    

    

    
      	B.  
               	
              No
                Trust Created:
                The arrangements hereunder are unfunded for tax purposes and for
                the
                purposes of ERISA, Title I. Nothing contained in the Plan, and no
                action
                taken pursuant to its provisions shall create, or be construed to
                create,
                a trust, escrow of any kind, or a fiduciary relationship between
                Ameren
                and the Participant, his designated beneficiary(ies), other beneficiaries
                of the Participant or any other
                person.

            

    

    

    
      	C. 
                	
              Unsecured
                General Creditor Status:
                Distributions to the Participant or his designated beneficiary(ies)
                or any
                other beneficiary(ies) hereunder shall be made from assets which
                prior to
                distribution shall continue, for all purposes, to be a part of the
                general
                corporate assets and no person (including Participants) shall have
                any
                interest in such assets, including without limitation the proceeds
                of life
                or other insurance policies, by virtue of the provisions of the Plan.
                To
                the extent that any person, including the Participant, acquires a
                right to
                receive distributions under the provisions hereof, such right shall
                be no
                greater than the right of any unsecured general creditor of Ameren
                and the
                obligation to pay constitutes a mere promise of Ameren to make payments
                in
                the future.

            

    

    

    
      	D.  
               	
              Recovery
                of Costs:
                In the event that, in its discretion, Ameren purchases an insurance
                policy
                or policies insuring the life of a Participant or any other property
                to
                allow Ameren to recover the costs of providing deferred compensation
                in
                whole or in part, hereunder, neither the Participant, his beneficiary(ies)
                nor any other person or persons shall have any rights therein whatsoever.
                Ameren shall be the sole owner and beneficiary of any such insurance
                policy and shall possess and may exercise all incidents of ownership
                therein.

            

    

    

    
      	E. 
                	
              Protective
                Provisions:
                A
                Participant shall cooperate with the Company by providing all information
                requested including a medical history. In connection therewith, the
                Company reserves the right to require that the Participant submit
                to a
                physical examination if such examination is deemed to be necessary
                or
                appropriate. The costs of all such physical examinations will be
                paid by
                the Company. If the Participant refuses to cooperate with the Company,
                the
                Company shall have no further obligation to the Participant under
                the
                provisions of the Plan. If the Participant makes any material misstatement
                of information or non-disclosure of medical history, then no benefits
                shall be payable to the Participant or beneficiary(ies) over and
                above his
                actual deferrals.

            

    

    

    
      	F. 
                	
              No
                Contract of Services:
                Nothing contained herein shall be construed to confer upon the Participant
                the right to continue to serve on the Board of Directors of
                

            

    

     

     

    
      
        
        

      

      
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    Ameren
      in his present capacity, or in any capacity
      for any term of years. It is expressly understood that the Plan relates to
      the
      payment of deferred compensation for the Participant’s director services
      normally distributable after termination of such services, and the Plan is
      not
      in any way intended to be a contract for the Participant’s
      services.

     

    
      	G.  
               	
              Spendthrift
                Provisions:
                Neither the Participant, his beneficiary(ies), nor any other person
                or
                persons shall have any power or right to sell, alienate, attach,
                garnish,
                transfer, assign, anticipate, pledge or otherwise encumber any part
                or all
                of a Deferral Account maintained or distributable hereunder. No amounts
                hereunder shall be subject to seizure by any creditor of the Participant
                or a beneficiary, beneficiary(ies) or any other person or persons
                by a
                proceeding at law or in equity, nor shall such amounts be transferable
                by
                operation of law in the event of divorce, legal separation, bankruptcy,
                insolvency or death of the Participant, his beneficiary(ies), or
                any other
                person or persons. Any such attempted assignment or transfer shall
                be null
                and void.

            

    

    

    
      	H. 
                	
              Suspension,
                Termination and Amendment:
                The Board of Directors of Ameren Corporation shall have the power
                to
                suspend or terminate the Plan in whole or in part at any time, and
                from
                time-to-time to extend, modify, amend or revise the Plan in such
                respects
                as the Board of Directors by resolution may deem advisable, provided
                that
                (1) no such extension, modification, amendment or revision shall
                deprive a
                Participant, or any beneficiary(ies) thereof, of any part or all
                of the
                Participant’s Deferral Account and (2) no attempt to terminate the Plan
                shall be effective unless such termination complies with the restrictions
                and requirements applicable under Code Section 409A and the regulations
                promulgated thereunder in effect at the time of such termination.
                Subject
                to the foregoing, this Plan document supersedes all previous similar
                Plan
                documents.

            

    

    

    
      	I.    	
              Conflicts:
                Any conflict in the language or terms or interpretation of the language
                or
                terms of the Plan between this Plan document and any other document
                which
                purports to describe the rights, benefits, duties or obligations
                of any
                Participant, Ameren or any other person or entity shall be resolved
                in
                favor of this Plan document.

            

    

    

    
      	J.    	
              Validity:
                In
                the event any provision of the Plan is held invalid, void, or
                unenforceable, the same shall not affect, in any respect whatsoever,
                the
                validity of any other provision of the
                Plan.

            

    

    

    
      	K.  
               	
              Captions:
                The captions of the articles and sections of the Plan are for convenience
                only and shall not control nor affect the meaning or construction
                of any
                of its provision.

            

    

    

    
      	L.  
               	
              Gender
                and Plurals:
                Wherever used in the Plan, words in the masculine gender shall include
                masculine or feminine gender, and unless the context otherwise requires,
                words in the singular shall include the plural, and words in the
                plural
                shall include the singular.

            

    

     

     

    
      
        
        

      

      
        Page
          9

        
          

        

      

      
        
        

      

    

    
 

    
      	M.  
               	
              Notice:
                Any election, beneficiary designation, notice, consent or demand
                required
                or permitted to be given under the provisions of the Plan shall be
                in
                writing and shall be signed by the Participant. If such election,
                beneficiary designation, notice, consent or demand is mailed by a
                Participant, it shall be sent by United States Certified Mail, postage
                prepaid, and addressed to the Chief Executive Officer, Ameren Corporation,
                P. O. Box 66149, St. Louis, Missouri 63166-6149. The date of such
                mailing
                shall be deemed to be the date of such notice, consent or
                demand.

            

    

    

    
      	N.  
               	
              Governing
                Law:
                The Plan, and the rights of the parties hereunder, shall be governed
                by
                and construed in accordance with the laws of the State of
                Missouri.

            

    

    

    
      	O.  
               	
              Disputes:
                Time shall be of the essence in determining whether any payments
                are due
                to the Participant or his beneficiary(ies) under the Plan. Therefore,
                a
                Participant or his beneficiary(ies) may submit any claim for payment
                under
                the Plan or dispute regarding the interpretation of the Plan to
                arbitration. This right to select arbitration shall be solely that
                of the
                Participant or his beneficiary(ies), and the Participant or his
                beneficiary(ies) may decide whether or not to arbitrate in his sole
                discretion. The “right to select arbitration” is not mandatory on the
                Participant or his beneficiary(ies), and the Participant or
                beneficiary(ies) may choose in lieu thereof to bring an action in
                an
                appropriate civil court. Once an arbitration has commenced, however,
                it
                may not be discontinued without the mutual consent of the Participant
                or
                beneficiary(ies) and the Company. During the lifetime of the Participant,
                only the Participant can use the arbitration procedure set forth
                herein.

            

    

    

    Any
      claim
      for arbitration may be submitted as follows: if the Participant or his
      beneficiary(ies) disagrees with the Company regarding the interpretation of
      the
      Plan and the claim is finally denied by the Company in whole or in part, such
      claim may be filed in writing with an arbitrator of the Participant’s or his
      beneficiary(ies)’s choice who is selected by the method described in the
      following paragraph.

    

    The
      Participant or his beneficiary(ies) shall submit to the Company a list of five
      potential arbitrators. Each of the five arbitrators so listed must be either
      (1)
      a member of the American Arbitration Association who is also a resident of
      the
      State of Missouri or (2) a retired Missouri Circuit Court of Court of Appeals
      Court judge. Within one week after receipt of said list, the Company shall
      select one of the five arbitrators as the arbitrator for the dispute in question
      and notify said arbitrator of his selection. If the Company fails to select
      an
      arbitrator in a timely manner, the Participant or his beneficiary(ies) shall
      then designate one of the five arbitrators as the arbitrator for the dispute
      in
      question.

    

    The
      arbitration hearing shall be held within seven days (or as soon thereafter
      as
      possible) after the selection of the arbitrator. No continuance of said hearing
      shall be allowed without the mutual consent of the Participant or his
      beneficiary(ies) and the Company. Absence from or nonparticipation at the
      hearing by either the Participant, or his beneficiary(ies), or the Company
      shall
      not prevent the issuance of an award by the arbitrator. Hearing procedures,
      which will expedite the hearing, may be ordered at the arbitrator’s discretion,
      and the arbitrator may close the hearing in his sole discretion when he decides
      he has heard sufficient evidence to justify the issuance of an
      award.

    

    
      
        
        

      

      
        Page
          10

        
          

        

      

      
        
        

      

    

    The
      arbitration award may be enforced in any appropriate court as soon as possible
      after its issuance. For the purposes of apportioning expenses and fees, the
      Company will be considered to the prevailing party in a dispute if the
      arbitrator determines (1) that Ameren has not breached its obligations or duties
      under the provisions of the Plan and (2) the claim of the Participant or his
      beneficiary(ies) was not made in good faith. Otherwise, the Participant or
      his
      beneficiary(ies) will be considered to be the prevailing party. In the event
      that Ameren is the prevailing party, the fee of the arbitrator and all necessary
      expenses of the hearing (excluding any attorneys’ fees incurred by the Company)
      including the fees of stenographic reporting, if employed, shall be paid by
      the
      Participant or beneficiary(ies). In the event that the Participant or his
      beneficiary(ies) is the prevailing party, the fee of the arbitrator and all
      necessary expenses of the hearing (including all attorneys’ fees incurred by the
      Participant or his beneficiary(ies) in pursuing his claim), including the fees
      of stenographic reporting, if employed, shall be paid by the
      Company.

    

    IN
      WITNESS WHEREOF, the foregoing restatement was adopted on November
      29, 2006.

    

    AMEREN
      CORPORATION

    

    

    

    By:           
      /s/ Donna K.
      Martin                                                       

    

    Title:  
      Senior
      Vice President and Chief Human Resources

    Officer
      (Ameren Services Company)Resignation and Restrictive Covenants Agreement - William C. Adair

    RESIGNATION
      AND RESTRICTIVE COVENANTS AGREEMENT

     

    THIS
      RESIGNATION AND RESTRICTIVE COVENANTS AGREEMENT (this “Agreement”) is dated as
      of  December 4, 2006, and is entered into by and between William C. Adair
      (“Executive”), Direct General Corporation, a Tennessee corporation (the
“Company”), and Elara Holdings, Inc., a Delaware corporation (“Holdco” or
      "Parent"). 

     

    RECITALS

     

    WHEREAS,
      pursuant to that certain Agreement and Plan of Merger (the “Merger Agreement”)
      by and among the Company, Holdco, and Elara
      Merger Corporation, a Tennessee corporation, and a wholly-owned subsidiary
      of
      Holdco ("Merger
      Sub"),
      Merger
      Sub will be merged with and into the Company, with the Company surviving as
      a
wholly-owned
      subsidiary of Holdco
      (the
      "Merger");

     

    WHEREAS,
      as of
      the date hereof, Executive is employed as the Chief Executive Officer ("CEO")
      of
      the Company and is subject to an Executive Employment Agreement with the
      Company, dated July 21, 2003 (the "Employment Agreement"), which provides for
      that certain severance payment as described therein and subject to the terms
      and
      conditions set forth therein;

     

    WHEREAS,
      in
      connection with, and upon the consummation of, the Merger, Executive will
      receive substantial consideration in exchange for the sale of his interest
      in
      the Company;

     

    WHEREAS,
      the
      parties hereto desire that effective as of and contingent upon the consummation
      of the Merger, Executive shall cease being an employee and officer of the
      Company in all respects, including as Chief Executive Officer; and 

     

    WHEREAS,
      the
      parties hereto desire Executive to continue to serve as a member of the Board
      of
      Directors of the Company from and following the consummation of the Merger.
      

     

    AGREEMENT

     

    NOW,
      THEREFORE,
      in
      consideration of the mutual covenants and promises contained herein and for
      other good and valuable consideration, the receipt and sufficiency of which
      are
      hereby acknowledged, the parties hereto, each intending to be legally bound
      hereby, agree as follows:

     

    1.  Resignation;
      Continued Service on Board of Directors.

     

    Executive
      hereby resigns as CEO and Chairman of the Board of Directors of the Company
      (the
      "Board") effective as of, and contingent upon, the consummation of the Merger
      and agrees that at such time he shall no longer be an employee or officer of
      the
      Company in any capacity. Executive hereby further agrees to continue to serve
      as
      a director on the Board and shall remain a director of the Company from and
      following the consummation of the Merger subject to removal or renomination
      and
      reelection in accordance with the Company's charter and bylaws.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2.  Waiver
      of Change of Control Severance. 

     

    Executive
      hereby knowingly and voluntarily agrees to waive any and all rights that he
      may
      have to any and all amounts provided under Section 3.3(i) of the Employment
      Agreement as a result of or in connection with the Merger and to release the
      Company, Parent, Holdco and/or any of their respective affiliates from any
      and
      all claims he may have thereto; provided, however, that such waiver and release
      shall be contingent upon the consummation of the Merger, and shall have no
      effect unless and until such consummation occurs. For the avoidance of all
      doubt, the specific provision of the Employment Agreement being waived pursuant
      to this Section 2 of this Agreement is as follows: 

     

    (i)
      in the event Executive's employment is terminated in connection with a Change
      of
      Control, the Company shall make an additional payment of a lump sum amount
      equal
      to (a) three times his annual salary as in effect at the time plus (b) three
      times the highest amount of his bonus paid to Executive within the three years
      preceding such termination.

     

    For
      the
      purposes of this Agreement, the parties acknowledge and agree that absent the
      waiver contemplated by this Section 2, the severance amounts contemplated under
      Section 3.3(i) of the Employment Agreement would become due and payable as
      a
      result of the Merger. The parties intend and hereby agree that this Section
      2
      shall amend the Employment Agreement to delete Section 3.3(i) set forth above
      and to remove any and all amounts payable thereunder from the calculation under
      Section 3.3 of the Employment Agreement of the "Aggregate Payment" and the
      "Excise Tax," as each is defined in Section 3.3 of the Employment Agreement.
      Except as described herein, this amendment is not intended to have, and shall
      not be deemed to have, any effect on any of the remaining sections of the
      Employment Agreement.

     

    3.  Severance
      Benefit

     

    The
      parties expressly acknowledge and agree that effective as of, and contingent
      upon, the consummation of the Merger, Executive's resignation pursuant to the
      terms and conditions set forth in this Agreement, including Executive's
      agreement to waive any entitlement to Section 3.3(i) of the Employment
      Agreement, and Executive's execution and non-revocation of a binding general
      waiver and release of claims, as required by the Employment Agreement, Executive
      shall be entitled to receive the payments and benefits set forth in Section
      3.3
      of the Employment Agreement, provided, however, that the Company and Executive
      expressly acknowledge and agree that, notwithstanding anything to the contrary
      in the Employment Agreement, Executive's coverage under the Consolidated Omnibus
      Budget Reconciliation Act of 1986 ("COBRA") shall be limited to the extent
      such
      coverage is required under and shall be governed solely by that statute.

     

    In
      addition to the severance benefits set forth in Section 3.3 of the Employment
      Agreement, as amended herein, Executive also may be entitled to certain
      additional benefits. Specifically, effective as of, and contingent upon, the
      consummation of the Merger, Executive's resignation pursuant to the terms and
      conditions set forth in this Agreement, and Executive's execution and
      non-revocation of a binding general waiver and release of claims, Executive
      shall be entitled to retain as his own property at no cost to him the following
      items of property currently being provided by the Company for use by Executive,
      provided that Executive shall be responsible for any and all taxes associated
      with his retention of such property: 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	(a)  	
              any
                and all cellular telephones and corresponding cellular telephone
                numbers;

            

    

     

    
      	(b)  	
              the
                2004 Cadillac Deville DTS having the vehicle identification number
                of
                1G6KF57974U252709; and

            

    

     

    
      	(c)  	
              the
                2006 Ford F150 truck having the vehicle identification number of
                1FTPW14V76KD42728.

            

    

     

    4.  Exclusive
      Services, Non-Solicitation and Non-Disclosure of Confidential
      Information

     

    (a)  Executive
      agrees that from the date his employment terminates and continuing for a period
      of five (5) consecutive years, Executive shall not, either directly or
      indirectly, make known to any person, firm, corporation or other legal entity
      the names or addresses of any of the prospective (to Executive’s knowledge) or
      current customers, clients, insureds, insurers, reinsurers, brokers, lenders,
      suppliers, service providers, employees, agents, representatives, and/or
      shareholders of the Company or any of its affiliates (hereinafter collectively
      referred to as “Business Contacts”) or any other information pertaining to them.
      Executive further agrees that, for a period of five (5) years immediately
      following the date Executive’s employment with the Company terminates, Executive
      shall not, either directly or indirectly, solicit (to the extent that such
      solicitation in any way relates to or arises out of the provision — whether
      proposed or actual or otherwise — of products and/or services similar in kind or
      purpose to those provided or expected to be provided by the Company and/or
      any
      of its affiliates), divert, take away, or attempt to solicit, divert, or take
      away any prospective (to Executive’s knowledge) or current Business Contacts or
      any persons or legal entities that were prospective (to Executive’s knowledge)
      or current Business Contacts at any point during Executive’s term of employment
      with the Company, either for Executive or for any other person, firm,
      corporation, or other legal entity. Nor shall Executive during the same period
      contact or attempt to contact any prospective (to Executive’s knowledge) or
      current Business Contacts for any reason in any way relating to or arising
      out
      of the provision (whether proposed or actual or otherwise) of products and/or
      services similar in kind or purpose to those provided or expected to be provided
      by the Company and/or any of its affiliates, other than ordinary course contact
      by Executive as a consumer.

     

    (b)  Executive
      agrees that for a period of five (5) consecutive years from the date Executive's
      employment with the Company terminates, Executive shall not disrupt, damage,
      impair or interfere with the business of the Company and/or any of its
      affiliates, whether by way of interfering with or raiding their employees,
      disrupting their relationships with any prospective (to Executive’s knowledge)
      or current Business Contacts, or otherwise. Nor shall Executive during the
      same
      period either
      directly or indirectly solicit, induce, recruit, or encourage to leave the
      employment of the Company and/or any of its affiliates for any reason and/or
      to
      perform work for a competitor of the Company and/or any of its affiliates (as
      an
      employee, independent contractor, or otherwise) (such conduct is collectively
      referred to as “solicitation”) any person who is then employed by the Company
      and/or any of its affiliates or who left the employ of the Company and/or any
      of
      its affiliates less than one (1) year prior to the solicitation.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (c)  Executive
      agrees that for a period of five (5) consecutive years from the date his
      employment with the Company terminates, he will not in any city, town, county,
      parish or other municipality in any state of the United States or any other
      place in the world that is indirectly or directly affected or reached by the
      activities or services rendered by Executive on behalf of the Company at any
      time during Executive's employment with the Company: (i) engage in a directly
      or
      indirectly competing business for Executive’s own account; (ii) enter the employ
      of, or render any consulting or any other services to, any entity that competes
      directly or indirectly with the Company and/or any of its affiliates; or (iii)
      become interested in any such entity in any capacity, including, without
      limitation, as an individual, partner, shareholder, officer, director,
      principal, agent, trustee or consultant; provided, however, that Executive
      may
      own, directly or indirectly, solely as a passive investment, securities of
      any
      entity traded on any national securities exchange if Executive is not a
      controlling person of, or a member of a group which controls, such entity and
      does not, directly or indirectly, own 5% or more of any class of securities
      of
      such entity.

     

    (d)  Executive
      acknowledges that, in his employment with the Company, he has occupied a
      position of trust and confidence with the Company and/or its affiliates and
      has
      received training that has enhanced his skill and experience. Executive agrees
      that he shall not without limitation in time or until such information shall
      have become public other than by Executive’s unauthorized disclosure, use,
      disclose or disseminate any trade secrets, confidential information or any
      other
      information of a secret, proprietary, confidential or generally undisclosed
      nature (hereinafter collectively referred to as “Confidential Information”)
      relating to the Company and/or any of its affiliates, or their respective
      businesses, contracts, projects, proposed projects, revenues, costs, operations,
      methods or procedures. Executive acknowledges that said information is
      specialized, unique in nature and of great value to the Company and/or its
      affiliates, and that such information gives the Company and/or its affiliates
      a
      competitive advantage in their businesses.

     

    (e)  Executive
      agrees that following the termination of his employment with the Company, he
      will not at any time, without the prior written consent of the Company,
      communicate to any person, any trade secrets, confidential information or any
      other information of a secret, proprietary, confidential or generally
      undisclosed nature relating to the Company and/or its affiliates and/or their
      businesses, or any other information referred to in subsection (d) of this
      Section, obtained by Executive during Executive’s employment by the Company that
      is not generally available public knowledge (other than by acts or omissions
      by
      Executive).

     

    (f)  Executive
      acknowledges and agrees that (i) the trade secrets and confidential and related
      information referred to in this Agreement and (ii) the relationships with the
      Business Contacts referenced in this Agreement each are of substantial value
      to
      the Company and/or its affiliates and that a breach of any of the terms and
      conditions of this Agreement relating to those subjects would cause irreparable
      harm to the Company and/or its affiliates, for which the Company and/or its
      affiliates would have no adequate remedy at law. Therefore, in addition to
      any
      other remedies that may be available to the Company and/or any of its affiliates
      under this Agreement or otherwise, the Company and/or its affiliates shall
      be
      entitled to obtain temporary restraining orders, preliminary and permanent
      injunctions and/or other equitable relief to specifically enforce Executive’s
      duties and obligations under this Agreement, or to enjoin any breach of this
      Agreement, without the need to post a bond or other security and without the
      need to demonstrate special damages. Furthermore, Executive agrees that any
      damages suffered by the Company and/or its affiliates as a result of Executive’s
      breach of Executive’s duties and obligations under this Agreement shall entitle
      the Company and/or its affiliates to offset such damages against any payments
      to
      be made pursuant to this Agreement or his Employment Agreement, to the extent
      permitted by applicable law.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (g)  Executive
      and the Company intend that if any portion of the restrictions set forth in
      this
      Section 4 should, for any reason whatsoever, be declared invalid by an
      arbitrator or a court of competent jurisdiction, the validity or enforceability
      of the remainder of such restrictions shall not thereby be adversely affected,
      and Executive declares that in light of his knowledge of the Company and his
      position of trust and confidence as a founder and principal stockholder of
      the
      Company who, pursuant to the Merger will receive substantial consideration
      in
      exchange for the sale of his interest in the Company, the territorial and time
      limitations set forth in this Section 4 are reasonable and properly required
      for
      the adequate protection of the business of the Company and/or its affiliates.
      In
      the event that any such territorial or time limitation is deemed to be
      unreasonable by an arbitrator or a court of competent jurisdiction, Executive
      agrees to the reduction of the subject territorial or time limitation to the
      area or period which such arbitrator or court shall have deemed
      reasonable.

     

    (h)  All
      of
      the provisions of this Section 4 are in addition to any other written agreements
      on the subjects covered herein that Executive may have with the Company and/or
      any of its affiliates, and are not meant to and do not excuse any additional
      obligations that Executive may have under such agreements.

     

    5.  Return
      of Company Property

     

    Executive
      agrees, upon the termination of his employment with the Company, to return
      all
      physical, computerized, electronic or other types of records, documents,
      proposals, notes, lists, files and any and all other materials including,
      without limitation, computerized and/or electronic information that refers,
      relates or otherwise pertains to the Company and/or its affiliates, and any
      and
      all business dealings of said persons and entities. In addition, Executive
      shall
      return to the Company all property or equipment that Executive has been issued
      during the course of Executive’s employment or which Executive otherwise
      currently possesses, including, but not limited to, any computers, cellular
      phones, BlackBerries, PDAs, and/or pagers. Executive shall immediately deliver
      to the Company any such physical, computerized, electronic or other types of
      records, documents, proposals, notes, lists, files, materials, property and
      equipment that are in Executive’s possession. Executive acknowledges that
      Executive is not authorized to retain any physical, computerized, electronic
      or
      other types of copies of any such physical, computerized, electronic or other
      types of records, documents, proposals, notes, lists, files or materials, and
      is
      not authorized to retain any other property or equipment of the Company and/or
      its affiliates. Executive further agrees that Executive will immediately forward
      to the Company any business information regarding the Company and/or any of
      its
      affiliates that has been or is inadvertently directed to Executive following
      Executive’s last day of employment with the Company. The provisions of this
      Section are in addition to any other written agreements on this subject that
      Executive may have with the Company and/or any of its affiliates, and are not
      meant to and do not excuse any additional obligations that Executive may have
      under such agreements. 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    6.  Cooperation
      in Third-Party Disputes

     

    At
      all
      times after Executive's employment with the Company has terminated, Executive
      shall cooperate with the Company and/or its affiliates and each of their
      respective attorneys or other legal representatives (collectively referred
      to as
“Attorneys”) in connection with any claim, litigation, or judicial or arbitral
      proceeding which is now pending or may hereinafter be brought or threatened
      against the Company and/or any of its affiliates by any third party. Executive’s
      duty of cooperation shall include, but shall not be limited to, (a) meeting
      with
      the Company’s and/or its affiliates’ Attorneys by telephone or in person at
      mutually convenient times and places in order to state truthfully Executive’s
      knowledge of the matters at issue and recollection of events; (b) appearing
      at
      the Company’s and/or its affiliates’ and/or their Attorneys’ request (and, to
      the extent possible, at a time convenient to Executive that does not conflict
      with the needs or requirements of Executive’s then-current employer) as a
      witness at depositions, trials or other proceedings, without the necessity
      of a
      subpoena, in order to state truthfully Executive’s knowledge of the matters at
      issue; and (c) signing at the Company’s and/or its affiliates’ and/or their
      Attorneys’ request declarations or affidavits that truthfully state the matters
      of which Executive has knowledge. The Company shall promptly reimburse Executive
      for Executive’s actual and reasonable travel or other out-of-pocket expenses
      that Executive may incur in cooperating with the Company and/or its affiliates
      and/or their Attorneys pursuant to this Section. The provisions of this Section
      are in addition to any other written agreements on this subject that Executive
      may have with the Company and/or its affiliates, and are not meant to and do
      not
      excuse any additional obligations that Executive may have under such
      agreements.

     

    7.  Non-Disparagement
      of the Company

     

    Executive
      agrees that at all times following the termination of his employment, he will
      not make, directly or indirectly, any public or private statements, gestures,
      signs, signals or other verbal or nonverbal, direct or indirect communications
      that are or could be harmful to or reflect negatively on the Company and/or
      any
      of its affiliates and/or their businesses, or that are otherwise disparaging
      of
      the Company and/or any of its affiliates and/or their businesses, or any of
      their past, present or future officers, directors, employees, advisors, agents,
      policies, procedures, practices, decision-making, conduct, professionalism
      or
      compliance with standards. The provisions of this Section are in addition to
      any
      other written agreements on this subject that Executive may have with the
      Company and/or any of its affiliates, and are not meant to and do not excuse
      any
      additional obligations that Executive may have under such
      agreements.

     

    8.  Invalid
      Provision

     

    The
      parties understand and agree that if any provision of this Agreement shall,
      for
      any reason, be adjudged by any court or arbitrator of competent jurisdiction
      to
      be invalid or unenforceable, such judgment shall not affect, impair, or
      invalidate the remainder of this Agreement, but shall be confined in its
      operation to the provision of this Agreement directly involved in the
      controversy in which such judgment shall have been rendered.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    9.  Governing
      Law

     

    This
      Agreement shall be governed by and construed and enforced in accordance with
      the
      laws of the State of Tennessee, without regard to its conflict of laws
      rules.

     

    10.  Headings

     

    Titles
      or
      captions of Sections contained in this Agreement are inserted only as a matter
      of convenience and for reference, and in no way define, limit, extend or
      describe the scope of this Agreement or the intent of any provisions
      hereof.

     

    11.  Interpretation

     

    Executive
      understands that this Agreement is deemed to have been drafted jointly by the
      parties. Any uncertainty or ambiguity shall not be construed for or against
      any
      party based on attribution of drafting to any party.

     

    12.  Notice

     

    Any
      and
      all notice given hereunder shall be in writing and shall be deemed to have
      been
      duly given when received, if personally delivered; when transmitted, if
      transmitted by telecopy, or electronic or digital transmission method, upon
      receipt of telephonic or electronic confirmation; the day after the notice
      is
      sent, if sent for next day delivery to a domestic address using a generally
      recognized overnight delivery service (e.g.,
      FedEx);
      and upon receipt, if sent by certified or registered mail, return receipt
      requested. In each case notice will be sent as follows:

     

    If
      to the
      Company: Direct
      General Corporation

    1281
      Murfreesboro Road

    Nashville,
      Tennessee 37217

    Attention:
      [•]

    Fax
      Number: [•]

    

     

    with
      a
      copy to: Elara
      Holdings, Inc.

    c/o
      Fremont Partners III, L.P.

    199
      Fremont Street

    San
      Francisco, CA 94105

    Attention:
      Kevin Baker, Esq.

    Fax
      Number: (415) 284-8191

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    If
      to
      Executive: William
      C. Adair

     

                           
      [Address]

                                                                   
      [City/State/Zip
      code]

                                                                   
      Telephone:
      [•]

                                                                   
      Facsimile:
      [•]

     

    

     

    Any
      party
      may change its address and/or facsimile number for notice purposes by duly
      giving notice to the other party pursuant to this Section.

     

    13.  Waiver

     

    Failure
      to insist upon strict compliance with any of the terms, covenants, or conditions
      hereof shall not be deemed a waiver of such term, covenant, or condition, nor
      shall any waiver or relinquishment of, or failure to insist upon strict
      compliance with, any right or power hereunder at any one or more times be deemed
      a waiver or relinquishment of such right or power at any other time or times.
      No
      waiver of any breach of any term or provision of this Agreement shall be
      construed to be, nor shall be, a waiver of any other breach of this Agreement.
      No waiver shall be binding unless in writing and signed by the party waiving
      the
      breach.

     

    14.  Counterparts

     

    This
      Agreement may be executed in counterparts, which together shall constitute
      one
      and the same Agreement. The parties may execute more than one copy of this
      Agreement, each of which copies shall constitute an original. A facsimile
      signature shall be deemed to be the same as an original signature. 

     

    
      
         

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF,
      the
      parties hereto, intending to be legally bound, have hereunto executed this
      Agreement on the day and year first written above.

     

    WILLIAM
      C. ADAIR 

     

    /s/
      William C. Adair                        
      

                                           
      William C. Adair

     

    DIRECT
      GENERAL CORPORATION

     

    By:
      /s/ Tammy R. Adair

     

    Its:
      President

    

     

    ELARA
      HOLDINGS, INC.

     

    By:
      /s/ David Lorsch

     

    Its:
      Vice
      President, Secretary and Treasurer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}]]