Document:

Retention Agreement between State Auto and Steven E. English

 Exhibit 10.61 
 Dear Mr. Steven E. English: 
 The purpose of this letter is to confirm our understanding with respect to the
disposition of your rights under your Termination Benefits Agreement with Meridian Insurance Group, Inc (the “Agreement”). By signing this letter you have agreed to continue your employment with State Auto, and to forego collecting the
full amount of your benefits due under such Agreement were you to leave the employ of the Company prior to June 1, 2004. In consideration of that, State Auto P&C has agreed to pay you an amount equal to $450,000. (the “Retention
Payment”) under the terms described below. 
 This Retention Payment will be paid to you in the form of $350,000 in cash and $100,000 in
options. The $350,000 will be paid to you in five annual payments of $70,000. The first $70,000 payment will be made on June 1, 2004. It is understood that your base salary of $150,000 will not be reduced during the term of the five annual cash
installments, by virtue of the Retention Payment installments. 
 A one time grant of non-qualified stock options to be made on June 1, 2004
will be proposed by the Company to the Compensation Committee of STFC. The number of options will be calculated by dividing $100,000 by STFC’s closing stock price on May 31, 2004. The options granted will vest in five annual increments of 20%
each with the first 20% vesting on June 1, 2004. The term of the options will be 10 years. Aside from the vesting provisions, the terms of the options will be substantially similar to the non-qualified stock options previously granted to you by the
Compensation Committee. 

 If your employment terminates, any unpaid installments of the Retention Payment are forfeited and any
unvested options lapse and become void. The following exceptions to the foregoing sentence apply: If your employment terminates (i) at the initiation of the Company without “good cause” or (ii) as a result of your death or your becoming
permanently and totally disabled, as defined by the Company’s ERG, then the cash portion of the Retention Payment remaining unpaid as of such employment termination date will be paid to you or your designated beneficiary (in the event of your
death) and any unvested stock options granted pursuant to this letter will vest on the date of such termination of your employment. For the purposes of this letter, “good cause” for the Company to initiate (and effect) the termination of
your employment means your having been convicted for fraud or a felony involving the Company or for theft of corporate assets. Except as set forth herein, payment of any Retention Payment installments may not be accelerated. 
 If the Compensation Committee in its sole discretion decides not to grant the option portion of the Retention Payment, there shall be substituted for
such options a cash payment equal to $100,000. 
 Please acknowledge your consent to the provisions of this letter by designating a
beneficiary below, signing a copy of this letter and returning it to me. Your Termination Benefit Agreement with MIGI is hereby cancelled. It is also understood and agreed that this does not constitute an agreement of employment. You remain an
employee at will. 
  

	
	 Sincerely,

	
	 /s/ Steven J. Johnston

  

			
	 For State Auto P&C

		
	 Signed:
	 	 /s/ Steven J. Johnston

	 Date:
	 	 2/9/04

  

			
	 I agree to the foregoing.

		
	 Signed:
	 	 /s/ Steven E. English

	 Date:
	 	 2/9/04

	 Beneficiary:
	 	 Deanna C. EnglishRetention Agreement between State Auto and Steven R. Hazelbaker

 Exhibit 10.62 
  

	 To:
	 Steve Hazelbaker 

  

	 From:
	 Bob Moone 

  

	 Subject:
	 Termination Benefits Agreement 

 The purpose of this letter is to confirm our understanding with respect to the disposition of your rights under your Termination Benefits Agreement with Meridian Insurance Group, Inc (the “Agreement”). By signing this letter you
have agreed to continue your employment with State Auto, and to forego collecting the full amount of your benefits due under such Agreement were you to leave the employ of the Company prior to June 1, 2004. In consideration of that, State Auto
P&C has agreed to pay you an amount equal in value to 50% of the Base Amount as defined in the Agreement that would have been due you had you terminated your employment prior to June 1, 2004 (the “Retention Payment”). The total
Retention Payment is $337,500. 
 This Retention Payment will be paid to you in the form of cash, paid in annual installments over a five
year period and stock options. 80% of the Retention Payment, which equals $270,000, will be paid in cash, while the other 20% will be paid in the form of a one-time grant of non-qualified stock options with a value equal to $67,500 at the time of
issue. This grant will be proposed by the Company to the Compensation Committee of STFC and is subject to their approval. The annual installments of the cash portion of the Retention Payment shall be $54,000. The options granted will vest over five
years in 20% increments, with a total option term of 10 years. Aside from the vesting provisions, the terms of the options will be substantially similar to those previously granted to you by the Compensation Committee. The first tranch of options
will vest immediately upon their issue. 
 If the Compensation Committee in its sole discretion decides not to grant the option portion of
the Retention Payment, there shall be substituted for such options a cash payment equal to 1/5 or 20% of the total Retention Payment. 
 If
your employment terminates, any unpaid installments of the Retention Payment are forfeited and any unvested options lapse and become void. The following exceptions to the foregoing sentence apply: If your employment terminates (i) at the initiation
of the Company without “good cause” or (ii) as a result of your death or your becoming permanently and totally disabled, as defined by the Company’s ERG, then the cash portion of the Retention Payment remaining unpaid as of such
employment termination date will be paid to you or your designated beneficiary (in the event of your death) and any unvested stock options granted pursuant to this letter will vest on the date of such termination of your employment. For the purposes
of this letter, “good cause” for the Company to initiate (and effect) the termination of your employment means your having been convicted for fraud or a felony involving the Company or for theft of corporate assets. Except as set forth
herein, payment of any Retention Payment installments may not be accelerated. 
 Please acknowledge your consent to the provisions of this
letter by designating a beneficiary below, signing a copy of this letter and returning it to me. Your Termination 

 Benefit Agreement with MIGI is hereby cancelled. It is also understood and agreed that this does not
constitute an agreement of employment. You remain an employee at will. 
 Sincerely, 
  

			
	 For State Auto P&C

		
	 Signed:
	 	 /s/ Robert H. Moone

	 Date:
	 	 5/3/2004

  

			
	 I agree to the foregoing.

		
	 Signed:
	 	 /s/ Steven R. Hazelbaker

	 Date:
	 	 5/3/04

	 Beneficiary:
	 	 Deborah K. Hazelbaker

 Disposition of Termination Benefits Agreement 
 Summary 
 Effective June 1, 2004 
  

			
	 Current Salary
	  	 $225,000

		
	 Five year Average Salary
	  	 $225,000

		
	 Total Termination Benefits Amount
	  	 $675,000 (rounded)

		
	 Agreed Settlement with Continued Employment
	  	 $337,500

		
	 Cash Payments
	  	 $54,000 for five consecutive years starting in 2004

		
	 One Time Option Shares with Value At Time of Grant
	  	 $67,500

		
	 New Salary Equal to Maximum of Range
	  	 $186,000Investment Management Agreement

 Exhibit 10.63 
 INVESTMENT MANAGEMENT AGREEMENT 
 This agreement dated this 29th day of March, 2007 is by
and between Stateco Financial Services, Inc. (aka Stateco, Inc.) (“Stateco”), 518 East Broad Street, Columbus, Ohio 43215 and Beacon National Insurance Company, First Preferred Insurance Company, Petrolia Insurance Company, and Beacon
Lloyds Insurance Company, 2915 Central Fwy East Drive, Wichita Falls, Texas 76302 (the Beacon Insurance Companies, each of which is referred to hereinafter as the “Company”). 
 Recitals 
 The Company is a Texas-domiciled corporation engaged in the
property-casualty insurance underwriting business. 
 In the ordinary course of its business it is charged with the responsibility of
managing and investing policyholder premiums. 
 Stateco, an Ohio-domiciled corporation, is engaged in the business of providing financial
services pertinent to an insurance business including, without limitation, investment management services. 
 The Company desires to retain
the services of Stateco as the investment manager for its investable assets, and Stateco is willing to serve in such capacity. 
 Therefore,
in consideration of the mutual covenants set forth herein and INTENDING TO BE LEGALLY BOUND HEREBY, the parties hereto agree as follows: 
 1.Term 
 a.This agreement shall be for a one year term. It shall automatically renew for additional twelve month
terms unless either party hereto gives written notice of its intention to terminate this agreement, which notice must be given at least ninety days prior to the annual anniversary date of the agreement. 
 2.Authority Granted to Stateco 
 a.The Company understands and agrees that as its investment manager, Stateco shall have full discretion as to investment decisions which are consistent with the investment policy set by the Investment Committee of the Board of Directors of
the Company. The Investment Committee agrees to keep Stateco advised of any changes to investment policy adopted by the committee. 
 b.Stateco agrees to attend all Investment Committee meetings to review with the committee members the investment activities undertaken in the prior quarter, to respond to questions from committee members and to communicate with the

  

 Investment Committee with respect to investment plans, strategies and policies to be
pursued by Stateco. 
 c.The Company understands and agrees the discretion granted to Stateco herein empowers Stateco (within
the policy constraints noted) to select investments to purchase, to allocate investable funds between tax free and taxable investments and to make decisions with respect to the sale of investments and the timing of such sale. Stateco is also
authorized to give instructions to Company’s custodian(s), with respect to the purchase, sale, exchange and delivery of securities for Company’s account and disbursements relating thereto. 
 d.Stateco is also authorized to place brokerage orders for Company’s account through such brokerage firms as Stateco, in its sole
discretion, may determine. 
 3.STATECO’S OBLIGATIONS 
 a.Stateco agrees to maintain records of transactions in which it engages on Company’s behalf in such form and format as Company requires to comply with legal requirements applicable to it.

 b.Stateco also agrees to act in good faith and exercise due care in carrying out its responsibilities hereunder. Stateco
will not be liable for any error of judgment with respect to its investment decisions providing Stateco has acted in good faith and has exercised due care. 
 c.Stateco agrees to maintain strict confidence with respect to Company’s financial affairs. Company will maintain confidentiality of investment advice and investment decisions, except to the
extent disclosure is mandated by law or disclosure is made to an affiliate of Company. 
 d.ln consideration for the
foregoing services provided and responsibilities to be accepted, Company agrees to pay Stateco based on the total investable assets of Company under its management, as per the Fee Schedule attached as Exhibit A. The fee will be paid within
forty-five (45) days after the end of each calendar quarter. It will be reviewed annually and may be amended by mutual agreement, which shall be confirmed in a revised Fee Schedule to be executed by the parties. 
 4.ARBITRATION 
 a.In the
event of a dispute arising out of any party’s performance under this agreement, the parties hereby understand and agree that if the dispute cannot be amicably resolved by the parties, they will arbitrate the dispute in accordance with the rules
and procedures set forth in the Ohio Uniform Arbitration Act, which is hereby incorporated by reference. 
  

	 5.
	 Governing Law 

 a. This agreement
shall be governed by Ohio law. 
  

			
	 Stateco Financial Services, lnc.

		
	 By
	 	 /s/ James E. Duemey

	
	 Beacon National Insurance Company

		
	 By
	 	 /s/ Steven E. English

	
	 First Preferred Insurance Company

		
	 By
	 	 /s/ Steven E. English

	
	 Petrolia Insurance Company

		
	 By
	 	 /s/ Steven E. English

	
	 Beacon Lloyds Insurance Company

		
	 By
	 	 /s/ Steven E. English

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