Document:

Exhibit

EXHIBIT 10.23

THIRD AMENDMENT TO AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT
THIS THIRD AMENDMENT TO AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT (this “Amendment”), dated as of September 22, 2017, is made by and among MAXIMUS, INC., a Virginia corporation (the “Borrower”), the several banks and other financial institutions and lenders party hereto (the “Lenders”), and SUNTRUST BANK, in its capacity as administrative agent (the “Administrative Agent”) for the Lenders (as defined in the Credit Agreement), as issuing bank (the “Issuing Bank”) and as Swingline Lender (the “Swingline Lender”), and MAXIMUS FEDERAL SERVICES, INC., a Virginia corporation (“MAXIMUS Federal”), MAXIMUS HUMAN SERVICES, INC., a Virginia corporation (“MAXIMUS Human”), MAXIMUS HEALTH SERVICES, INC., an Indiana corporation (“MAXIMUS Health”), PSI SERVICES HOLDING INC., a Delaware corporation (“PSI Holding”), POLICY STUDIES INC., a Colorado corporation (“PSI”), ACENTIA, LLC, a Maryland limited liability company (“Acentia”), OPTIMOS, LLC, a Maryland limited liability company (“Optimos”), 2020 COMPANY, LLC, an Illinois limited liability company (“2020”), ITSOLUTIONS NET GOVERNMENT SOLUTIONS, INC., a Maryland corporation (“ITSolutions Net Government”), ITSOLUTIONS NET, INC., a Delaware corporation (“ITSolutions”), INTERACTIVE TECHNOLOGY SOLUTIONS, LLC, a Maryland limited liability company (“ITS”), and ITEQ HOLDING COMPANY, inc., a Maryland corporation (“ITEQ,” and together with MAXIMUS Federal, MAXIMUS Human, MAXIMUS Health, PSI Holding, PSI, Acentia, Optimos, 2020, ITSolutions Net Government, ITSolutions and ITS, collectively, the “Subsidiary Loan Parties,” and individually, a “Subsidiary Loan Party,” and together with the Borrower, collectively, the “Loan Parties,” and individually, a “Loan Party”).
RECITALS
WHEREAS, the Borrower, the Lenders and the Administrative Agent are parties to the Amended and Restated Revolving Credit Agreement, dated as of March 15, 2013, by and among the Borrower, the Lenders and the Administrative Agent, as amended by the First Amendment to Amended and Restated Revolving Credit Agreement, dated as of March 9, 2015, by and among the Borrower, the other Loan Parties party thereto, the Lenders party thereto and the Administrative Agent, as amended by the Supplement and Joinder Agreement, dated as of March 9, 2015, by and among the Borrower, the other Loan Parties party thereto, the Lenders party thereto and the Administrative Agent, as amended by the Second Amendment to Amended and Restated Revolving Credit Agreement, dated as of October 23, 2015, by and among the Borrower, the other Loan Parties party thereto, the Lenders party thereto and the Administrative Agent (as further amended, supplemented, amended and restated or otherwise modified through the date hereof, the “Credit Agreement”).  Capitalized terms defined in the Credit Agreement and undefined herein shall have the same defined meanings when such terms are used in this Amendment;
WHEREAS, the Borrower has requested that the Administrative Agent and the Lenders amend certain provisions of the Credit Agreement as set forth below; and
WHEREAS, the Administrative Agent and the Lenders have agreed to do so, subject to the terms and conditions of this Amendment;
NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration (the receipt and sufficiency of which is hereby acknowledged), the parties hereto hereby agree as follows:
AGREEMENT
		
	1.
	Incorporation of Recitals.  The Recitals hereto are incorporated herein by reference to the same extent and with the same force and effect as if fully set forth herein.

2.Amendments to Credit Agreement.  The Credit Agreement is hereby amended as follows:
(a)Section 1.1 of the Credit Agreement is amended to add the following definitions, to appear in their appropriate alphabetical order:
“Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution.

“Bail-In Legislation” means, with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule. 
“EEA Financial Institution” means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent. 
“EEA Member Country” means any of the member states of the European Union, Iceland, Liechtenstein, and Norway.
“EEA Resolution Authority” means any public administrative authority or any Person entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution.
“EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from time to time.   
“Permitted Sale Leaseback” means any Sale Leaseback consummated by Borrower or any of its Subsidiaries; provided, that (a) no Event of Default shall exist immediately prior to, or after, giving effect to such Sale Leaseback, (b) the aggregate amount of Indebtedness secured by all Sale Leasebacks at any time does not exceed $40,000,000, and (c) either (i) the subject asset was acquired before the Third Amendment Effective Date and is listed in Appendix C to the Third Amendment or (ii) (x) the subject asset was acquired after the Third Amendment Effective Date and (y) the Indebtedness is incurred prior to or within 360 days after the acquisition or the completion of such subject asset. 
“Sale Leaseback” means any transaction or series of related transactions pursuant to which Borrower or any of its Subsidiaries (a) sells, transfers or otherwise disposes of any property, real or personal, whether now owned or hereafter acquired, and (b) as part of such transaction, thereafter rents or leases such property or other property that it intends to use for substantially the same purpose or purposes as the property being sold, transferred or disposed.
“Specified Event of Default” means an Event of Default occurring under clause (a), (h), (i) or (j) of Section 8.1 or under clause (d) of Section 8.1 with respect to a breach of a covenant in Section 6 or 7 of this Agreement.
“Third Amendment” shall mean the Third Amendment to Amended and Restated Revolving Credit Agreement, dated as of September 22, 2017, by and among the Borrower, the other Loan Parties party thereto, the Lenders party thereto and the Administrative Agent.
“Third Amendment Effective Date” shall mean the Third Amendment Effective Date (as such term is defined in the Third Amendment).
“Write-Down and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member 

Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule.
(b)Schedule I to the Credit Agreement is amended to read in its entirety as set forth in Appendix A attached hereto and made a part hereof.
(c)The last sentence of the definition of “Applicable Margin” set forth in Section 1.1 of the Credit Agreement is amended to read in its entirety as follows:
Notwithstanding the foregoing, the Applicable Margin from the Third Amendment Effective Date until the financial statements and Compliance Certificate for the Fiscal Quarter ending September 30, 2017, are required to be delivered shall be at Level I as set forth on Schedule I.
(d)The last sentence of the definition of “Applicable Percentage” set forth in Section 1.1 of the Credit Agreement is amended to read in its entirety as follows:
Notwithstanding the foregoing, the Applicable Percentage for the commitment fee from the Third Amendment Effective Date until the financial statements and Compliance Certificate for the Fiscal Quarter ending September 30, 2017, are required to be delivered shall be at Level I as set forth on Schedule I.
(e)The first sentence of the definition of “Defaulting Lender” set forth in Section 1.1 of the Credit Agreement is amended to delete the word “or” appearing before clause (d), add the following clause (e) to appear in proper alphabetical order and to immediately precede the proviso to such sentence:
, or (e) become the subject of a Bail-in Action
(f)The definition of “Fee Letter” set forth in Section 1.1 of the Credit Agreement and the usages of such term in the Credit Agreement are amended to include a reference to that certain fee letter, dated as of July 20, 2017, executed by SunTrust Robinson Humphrey, Inc. and SunTrust Bank and accepted by the Borrower on July 20, 2017.
(g)Schedule II to the Credit Agreement is amended to read in its entirety as set forth in Appendix B attached hereto and made a part hereof.
(h)The definition of “Revolving Commitment Termination Date” contained in Section 1.1 of the Credit Agreement is amended to read in its entirety as follows:
“Revolving Commitment Termination Date” shall mean the earliest of (i) September 22, 2022, (ii) the date on which the Revolving Commitments are terminated pursuant to Section 2.9 and (iii) the date on which all amounts outstanding under this Agreement have been declared or have automatically become due and payable (whether by acceleration or otherwise).
(i)Section 2.14(c) of the Credit Agreement is amended to read in its entirety as follows:
(c)    At the option of the Required Lenders, while a Specified Event of Default exists (or automatically after acceleration), the Borrower shall pay interest (“Default Interest”) with respect to all Eurocurrency Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period plus any Mandatory Cost, and thereafter, and with respect to all Index Rate Loans and Base Rate Loans (including all Swingline Loans) and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(j)The second sentence of Section 2.27(c) of the Credit Agreement is amended to read in its entirety as follows:
Subject to Section 10.17, no reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased exposure following such reallocation.
(k)Section 5.8 of the Credit Agreement is amended to add the following to the end of such Section:
If at any time any owned real property is pledged as Collateral and such real property is located in an area identified by the Federal Emergency Management Agency (or any successor agency) as a "special flood hazard area" and flood insurance coverage is available under the National Flood Insurance Program, the applicable Loan Party (A) has obtained and will maintain, if available, flood 

hazard on such terms and in such amounts as required by The National Flood Insurance Reform Act of 1994, the Federal Flood Disaster Protection Act and rules and regulations promulgated thereunder or as otherwise required by the Administrative Agent or any Lender, (B) furnish to the Administrative Agent evidence of the renewal (and payment of renewal premiums therefor) of all such policies prior to the expiration or lapse thereof and (C) furnish to the Administrative Agent prompt written notice of any re-designation of any such real property into or out of a special flood hazard area.
(l)Section 5.12 of the Credit Agreement is amended to add the following to the end of such Section:
Notwithstanding anything herein to the contrary, if at any time real property is required to be pledged as Collateral, the applicable Loan Party shall not deliver, and the Administrative Agent shall not enter into, accept or record, any mortgage, deed of trust or like instrument in respect of such real property until (1) the date that occurs 45 days after the Administrative Agent has delivered to the Lenders the following documents in respect of such real property: (i) a completed flood zone determination from a third party vendor; (ii) if such real property is located in a "special flood hazard area", (A) a notification to the applicable Loan Party of that fact and (if applicable) notification to the applicable Loan Party that flood insurance coverage is not available under the National Flood Insurance Program because the community does not participate in the National Flood Insurance Program and (B) evidence of the receipt by the applicable Loan Party of such notice(s); and (iii) if such notice is required to be provided to the Loan Party and flood insurance is available under the National Flood Insurance Program in the community in which such real property is located, evidence of flood insurance in such form, on such terms and in such amounts as required by The National Flood Insurance Reform Act of 1994, the Federal Flood Disaster Protection Act and rules and regulations promulgated thereunder or as otherwise required by the Administrative Agent or any Lender and (2) the Administrative Agent shall have received written confirmation from each Lender that flood insurance due diligence and flood insurance compliance has been completed by such Lender (such written confirmation not to be unreasonably conditioned, withheld or delayed).
(m)Section 6.1 of the Credit Agreement is amended to read in its entirety as follows:
Section 6.1.    Leverage Ratio.  The Borrower will maintain, as of the end of each Fiscal Quarter, commencing with the Fiscal Quarter ending September 30, 2017, a Leverage Ratio of not greater than 3.25:1; provided, however, the foregoing threshold shall be 3.75:1.00 for any fiscal quarter during which a Permitted Acquisition has been consummated (a “Trigger Quarter”), and for the next two succeeding fiscal quarters; provided, further, however, that the threshold shall return to 3.25:1 no later than the third fiscal quarter after such Trigger Quarter.
(n)Section 7.1(c) of the Credit Agreement is amended to read in its entirety as follows:
(c)    (i) Indebtedness of the Borrower or any Subsidiary incurred to finance the acquisition, construction or improvement of any fixed or capital assets, including Capital Lease Obligations, and any Indebtedness assumed in connection with the acquisition of any such assets or secured by a Lien on any such assets prior to the acquisition thereof; provided, that such Indebtedness is incurred prior to or within 90 days after such acquisition or the completion of such construction or improvements or Permitted Refinancings thereof; provided further, that the aggregate principal amount of such Indebtedness does not exceed $25,000,000 at any time outstanding and (ii) Indebtedness of the Borrower or any Subsidiary arising out of Permitted Sale Leasebacks, including Capital Lease Obligations;
(o)Clause (iii) of Section 7.5 of the Credit Agreement is amended to read in its entirety as follows:
(iii) other Restricted Payments made by the Borrower, provided, that such other Restricted Payments may only be made if either at the time of declaration or payment (x) no Default or Event of Default has occurred and is continuing and (y) after giving pro forma effect to such Restricted Payment and the incurrence of any Indebtedness in connection therewith, the Borrower would be in compliance with the financial covenants set forth in Sections 6.1 and 6.2 and
(p)Clause (ii) of Section 7.6(d) of the Credit Agreement is amended to read in its entirety as follows:
(ii) a Permitted Sale Leaseback; 
(q)Section 7.9 of the Credit Agreement is amended to read in its entirety as follows:

Section 7.9.    Sale and Leaseback Transactions.  The Borrower will not, and will not permit any of the Subsidiaries to, enter into any Sale Leaseback, except a Permitted Sale Leaseback.
(r)Section 10.1(a) of the Credit Agreement is amended to change the address for notices to the Administrative to read as follows:

To the Administrative Agent:        SunTrust Bank
3333 Peachtree Rd, NE, 8th Floor
Atlanta, GA 30326
Attention:    Shannon A. Offen
Director
Telecopy Number: (404) 439-7470

(s)Section 10.17 is hereby added to the Credit Agreement, to appear in proper numerical order, and to read as follows:
Section 10.17.    Acknowledgement and Consent to Bail-In of EEA Financial Institutions.  Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:
(a)    the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and
(b)    the effects of any Bail-in Action on any such liability, including, if applicable:
(i)    a reduction in full or in part or cancellation of any such liability;
(ii)    a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document; or
(iii)    the variation of the terms of such liability  in connection with the exercise of the write-down and conversion powers of any EEA Resolution Authority.
(t)Section 10.18 is hereby added to the Credit Agreement, to appear in proper numerical order, and to read as follows:
Section 10.18.  MIRE Events.  Each of the parties hereto acknowledges and agrees that, if any real property is Collateral at such time, any increase, extension or renewal of any of the Commitments or Loans (excluding (i) any continuation or conversion of borrowings, (ii) the making of any Revolving Loans or Swingline Loans or (iii) the issuance, renewal or extension of Letters of Credit) shall be subject to (and conditioned upon): (1) the prior delivery of all flood zone determination certifications, acknowledgements and evidence of flood insurance and other flood-related documentation with respect to such real property sufficient to evidence compliance with The National Flood Insurance Reform Act of 1994, the Federal Flood Disaster Protection Act and rules and regulations promulgated thereunder or as otherwise required by the Administrative Agent or any Lender and (2) the Administrative Agent shall have received written confirmation from each Lender that flood insurance due diligence and flood insurance compliance has been completed by such Lender (such written confirmation not to be unreasonably withheld, conditioned or delayed).
(u)Except as specifically modified by this Amendment, the terms and provisions of the Credit Agreement are ratified and confirmed by the parties hereto and remain in full force and effect.
(v)Each of the Borrower, the other Loan Parties, the Administrative Agent and each Lender agrees that, as of and after the Third Amendment Effective Date (as hereinafter defined), each reference in the Loan 

Documents to the Credit Agreement shall be deemed to be a reference to the Credit Agreement as amended hereby.
3.Effectiveness of Amendment.  This Amendment and the amendments contained herein shall become effective on the date (the “Third Amendment Effective Date”) when each of the conditions set forth below shall have been fulfilled to the satisfaction of the Administrative Agent:
(a)The Administrative Agent shall have received counterparts of this Amendment, duly executed and delivered on behalf of the Borrower, the other Loan Parties, the Administrative Agent and the Lenders party hereto (all of the foregoing, collectively, the “Modification Documents”).
(b)Before and after giving effect to this Amendment, no event shall have occurred and be continuing that constitutes an Event of Default, or that would constitute an Event of Default but for the requirement that notice be given or that a period of time elapse, or both.
(c)Before and after giving effect to this Amendment, all representations and warranties of the Borrower contained in the Credit Agreement, and all representations and warranties of each other Loan Party in each Loan Document to which it is a party, shall be true and correct at the Third Amendment Effective Date as if made on and as of such Third Amendment Effective Date, or, to the extent such representations or warranties are expressly stated to be made as of a particular date, such representations and warranties are true and correct as of such date.
(d)The Borrower shall have delivered to the Administrative Agent (1) either certified copies of any amendments to the articles or certificate of incorporation, formation or organization, bylaws, partnership certificate or operating agreement of the Borrower and each other Loan Party since the date of the Credit Agreement or, as applicable, the joinder of a Loan Party to the Loan Documents or a certificate that the organizational documents of the Borrower or such Loan Party have not changed since such date, (2) a certificate of incumbency for the officers or other authorized agents, members or partners of the Borrower and each other Loan Party executing this Amendment, the other Modification Documents and the other Loan Documents related hereto and (3) such additional supporting documents as the Administrative Agent or counsel for the Administrative Agent reasonably may request.
(e)The Administrative Agent (or its counsel) shall have received a favorable written opinion of Winston & Strawn LLP, special counsel to the Loan Parties, and favorable written opinions of local counsel to the Loan Parties, in each case, addressed to the Administrative Agent and each of the Lenders, and covering such matters relating to the Loan Parties, this Amendment, the other Modification Documents and the other documents required hereby and the transactions contemplated herein and therein as the Administrative Agent shall reasonably request.
(f)The Administrative Agent (or its counsel) shall have received the results of a search of the Uniform Commercial Code filings (or equivalent filings) made with respect to the Loan Parties in the states (or other jurisdictions) of formation of such Persons, and in which the chief executive office of each such Person is located and in the other jurisdictions reasonably requested by the Administrative Agent, together with copies of the financing statements (or similar documents) disclosed by such search, and accompanied by evidence satisfactory to the Administrative Agent that the Liens indicated in any such financing statement (or similar document) would be permitted by Section 7.2 of the Credit Agreement or have been or will be contemporaneously released or terminated.
(g)No change shall have occurred which has had or could reasonably be expected to have a Material Adverse Effect.
(h)All documents delivered pursuant to this Amendment and the other Modification Documents must be of form and substance satisfactory to the Administrative Agent and its counsel, and all legal matters incident to this Amendment and the other Modification Documents must be satisfactory to the Administrative Agent’s counsel.
(i)Payment by the Borrower in immediately available funds of the fees agreed to in the Fee Letter and the fees and expenses required to be paid by Section 10 of this Amendment.
(j)Intentionally deleted.
4.Amendment Only; No Novation; Modification of Loan Documents.  Each of the Borrower and each other Loan Party acknowledges and agrees that this Amendment and the other Modification Documents only amend the terms of the Credit Agreement and the other Loan Documents and does not constitute a novation, and each of the Borrower and each other Loan Party ratifies and confirms the terms and provisions of, and its obligations under, the Credit Agreement and the other Loan Documents in all respects.  Each of the Borrower and each other Loan Party acknowledges and agrees that each reference in the Loan Documents to any particular Loan Document shall be deemed to be a reference to such Loan Document as amended by this Amendment and the other Modification Documents.  To the extent of a conflict between the terms of any Loan Document and the terms of this Amendment, the terms of this Amendment shall control.
5.No Implied Waivers.  Each of the Borrower and each other Loan Party acknowledges and agrees that the amendments contained herein and the other Modification Documents shall not constitute a waiver, express or implied, of any Default, Event of Default, covenant, term or provision of the Credit Agreement or any of the other Loan Documents, nor shall they create any obligation, express or implied, on the part of the Administrative Agent or 

any other Lender to waive, or to consent to any amendment of, any existing or future Default, Event of Default or violation of any covenant, term or provision of the Credit Agreement or any of the other Loan Documents.  The Administrative Agent and the Lenders shall be entitled to require strict compliance by the Borrower and the other Loan Parties with the Credit Agreement and each of the other Loan Documents, and nothing herein shall be deemed to establish a course of action or a course of dealing with respect to requests by the Borrower or any other Loan Party for waivers or amendments of any Default, Event of Default, covenant, term or provision of the Credit Agreement or any of the other Loan Documents.
6.Successors and Assigns.  This Amendment shall be binding upon and inure to the benefit of the Borrower, the other Loan Parties, the Lenders and the Administrative Agent and their respective successors and assigns.
7.No Further Amendments.  Nothing in this Amendment, the other Modification Documents or any prior amendment to the Loan Documents shall require the Administrative Agent or any Lender to grant any further amendments to the terms of the Loan Documents.  Each of the Borrower and each other Loan Party acknowledges and agrees that there are no defenses, counterclaims or setoffs against any of their respective obligations under the Loan Documents.
8.Representations and Warranties.  All representations and warranties made by the Borrower and each other Loan Party in the Loan Documents are incorporated by reference in this Amendment and are deemed to have been repeated as of the date of this Amendment with the same force and effect as if set forth in this Amendment, except that any representation or warranty relating to any financial statements shall be deemed to be applicable to the financial statements most recently delivered to the Administrative Agent in accordance with the provisions of the Loan Documents, and, to the extent such representations or warranties are expressly stated to be made as of a particular date, such representations and warranties are true and correct as of such date.  Each of the Borrower and each other Loan Party represents and warrants to the Administrative Agent, the Lenders and the Issuing Bank that, after giving effect to the terms of this Amendment and the other Modification Documents, no Default has occurred and been continuing.
9.Intentionally Deleted.  
10.Fees and Expenses.  The Borrower agrees to pay all reasonable, out-of-pocket costs and expenses of the Administrative Agent and its Affiliates, including the reasonable fees, charges and disbursements of counsel for the Administrative Agent and its Affiliates, in connection with the preparation and administration of this Amendment and the other Modification Documents.
11.Severability.  Any provision of this Amendment held to be illegal, invalid or unenforceable in any jurisdiction, shall, as to such jurisdiction, be ineffective to the extent of such illegality, invalidity or unenforceability without affecting the legality, validity or enforceability of the remaining provisions hereof; and the illegality, invalidity or unenforceability of a particular provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.
12.Governing Law.  This Amendment shall be construed in accordance with and be governed by the law (without giving effect to the conflict of law principles thereof) of the State of New York.  THIS AMENDMENT WILL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK (INCLUDING FOR SUCH PURPOSES SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK).
13.Counterparts.  This Amendment may be executed by one or more of the parties to this Amendment on any number of separate counterparts (including by telecopy or by email, in pdf format), and all of said counterparts taken together shall be deemed to constitute one and the same instrument.  It shall not be necessary that the signature of, or on behalf of, each party, or that the signatures of the persons required to bind any party, appear on more than one counterpart.
14.Arrangers and Documentation Agents.  Each of SunTrust Robinson Humphrey, Inc., and Bank of America, N.A., shall have the title “Joint Lead Arranger,” subject to the provisions of Section 9.10 of the Credit Agreement, and references in the Credit Agreement to “Arranger” shall be deemed to refer to each of such Persons.  Each of HSBC Bank USA, N.A., and TD Bank, N.A., shall have the title “Documentation Agent,” subject to the provisions of Section 9.10 of the Credit Agreement.
15.Release.  In accordance with Section 5.11 of the Credit Agreement, the Borrower has provided a written request to the Administrative Agent to release each of ITSOLUTIONS NET HOLDING CORP., a Delaware corporation, OPTIMUS CORPORATION, a Virginia corporation, and AVIEL SYSTEMS, INC., a Virginia corporation (collectively, the “Released Subsidiaries”), as a Subsidiary Loan Party under the Credit Agreement as each no longer qualifies as a Material Subsidiary.  The Administrative Agent and the Lenders hereby release the Released Subsidiaries from their obligations under the Credit Agreement and agree that the Released Subsidiaries are no longer Subsidiary Loan Parties under the Credit Agreement.
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IN WITNESS WHEREOF, the parties hereto have caused this Third Amendment to Amended and Restated Revolving Credit Agreement to be duly executed by their respective duly authorized representatives all as of the day and year first above written.
BORROWER:
MAXIMUS, INC., a Virginia corporation
By:    /S/ Richard J. Nadeau
Name:    Richard J. Nadeau
Title:    CFO

SUBSIDIARY LOAN PARTIES:
MAXIMUS FEDERAL SERVICES, INC., a Virginia corporation

By:    /S/ Thomas D. Romeo
Name:    Thomas D. Romeo
Title:    President

MAXIMUS HUMAN SERVICES, INC., a Virginia corporation
By:    /S/ David R. Francis
Name:    David R. Francis
Title:    Secretary

MAXIMUS HEALTH SERVICES, INC., an Indiana corporation
By:    /S/ David R. Francis
Name:    David R. Francis
Title:    Secretary

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PSI SERVICES HOLDING INC., a Delaware corporation
By:    /S/ Ilene R. Baylinson
Name:    Ilene R. Baylinson
Title:    VP and Secretary

POLICY STUDIES INC., a Colorado corporation
By:    /S/ David R. Francis
Name:    David R. Francis
Title:    Secretary

ACENTIA, LLC, a Maryland limited liability company

By:    /S/ Richard J. Nadeau
Name:    Richard J. Nadeau
Title:    Treasurer and Secretary
 
OPTIMOS, LLC, a Maryland limited liability company 

By:    /S/ Richard J. Nadeau
Name:    Richard J. Nadeau
Title:    Treasurer and Secretary

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2020 COMPANY, LLC, an Illinois limited liability company
By:    /S/ Richard J. Nadeau
Name:    Richard J. Nadeau
Title:    Treasurer and Secretary

ITSOLUTIONS NET GOVERNMENT SOLUTIONS, INC., a Maryland corporation 

By:    /S/ Richard J. Nadeau
Name:    Richard J. Nadeau
Title:    Treasurer and Secretary
 
ITSOLUTIONS NET, INC., a Delaware corporation

By:    /S/ Richard J. Nadeau
Name:    Richard J. Nadeau
Title:    Treasurer and Secretary

INTERACTIVE TECHNOLOGY SOLUTIONS, LLC, a Maryland limited liability company 

By:    /S/ Richard J. Nadeau
Name:    Richard J. Nadeau
Title:    Treasurer and Secretary
 
ITEQ HOLDING COMPANY, inc., a Maryland corporation 

By:    /S/ Richard J. Nadeau
Name:    Richard J. Nadeau
Title:    Treasurer and Secretary

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ADMINISTRATIVE AGENT:

SUNTRUST BANK
as Administrative Agent, as Issuing Bank and as Swingline Lender
By:    /S/ Anika Kirs
Name:    Anika Kirs
Title:    Vice President

LENDERS:

SUNTRUST BANK
as Lender
By:    /S/ Anika Kirs
Name:    Anika Kirs
Title:    Vice President

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BANK OF AMERICA, N.A.
as Lender
By:    /S/ Enyinnaya Ukachi
Name:    Enyinnaya Ukachi
Title:    Vice President

[SIGNATURES CONTINUE ON FOLLOWING PAGES]

HSBC BANK USA, N.A.
as Lender
By:    /S/ Peter Martin
Name:    Peter Martin
Title:    Vice President

[SIGNATURES CONTINUE ON FOLLOWING PAGES]

TD BANK, N.A.
as Lender
By:    /S/ Uk-Sun Kim
Name:    Uk-Sun Kim
Title:    Senior Vice President

[SIGNATURES CONTINUE ON FOLLOWING PAGES]

BRANCH BANKING AND TRUST COMPANY
as Lender
By:    /S/ John K. Perez
Name:    John K. Perez
Title:    Senior Vice President

[SIGNATURES CONTINUE ON FOLLOWING PAGES]

FIFTH THIRD BANK
as Lender
By:    /S/ Tamara M. Dowd
Name:    Tamara M. Dowd
Title:    Director

[SIGNATURES CONTINUE ON FOLLOWING PAGES]

JPMORGAN CHASE BANK, N.A.,
as Lender
By:    /S/ Anthony Galea
Name:    Anthony Galea
Title:    Executive Director

[SIGNATURES CONTINUE ON FOLLOWING PAGES]

U.S. BANK NATIONAL ASSOCIATION
as Lender
By:    /S/ Mark Irey
Name:    Mark Irey
Title:    Vice President

[SIGNATURES CONTINUE ON FOLLOWING PAGES]

WELLS FARGO BANK, NATIONAL ASSOCIATION
as Lender
By:    /S/ Nathan R. Rantala 
Name:    Nathan R. Rantala 
Title:    Managing Director

[SIGNATURES CONTINUE ON FOLLOWING PAGE]

CITIZENS BANK OF PENNSYLVANIA
as Lender
By:    /S/ Peggy Sanders
Name:    Peggy Sanders
Title:    Sr. Vice President 

Appendix A
Schedule I
APPLICABLE MARGIN FOR THE REVOLVING LOANS AND 
APPLICABLE PERCENTAGE

	
					
	

Pricing
Level
	Leverage Ratio
	Applicable Margin for Eurocurrency Revolving Loans and Index Rate Revolving Loans
	Applicable Margin for Base Rate Revolving Loans
	Applicable Percentage for Commitment Fee

	I
	Less than 1.00:1
	1.000% per annum
	0.000% per annum
	0.125% per annum

	II
	Greater than or equal to 1.00:1.00 but less than 1.50:1.00
	1.250% per annum
	0.250% per annum
	0.175% per annum

	III
	Greater than or equal to 1.50:1.00 but less than 2.00:1.00
	1.375% per annum
	0.375% per annum
	0.200% per annum

	IV
	Greater than or equal to 2.00:1.00 but less than 2.50:1.00
	1.500% per annum
	0.500% per annum
	0.225% per annum

	V
	Greater than or equal to 2.50:1.00
	1.750% per annum
	0.750% per annum
	0.275% per annum

Appendix B
Schedule II
REVOLVING COMMITMENT AMOUNTS

	
		
	Lender
	Revolving Commitment Amount

	SunTrust Bank
	$70,000,000

	Bank of America, N.A.
	$60,000,000

	HSBC Bank USA, N.A.
	$50,000,000

	TD Bank, N.A.
	$50,000,000

	Branch Banking and Trust Company
	$30,000,000

	Fifth Third Bank
	$30,000,000

	JPMorgan Chase Bank, N.A.
	$30,000,000

	U.S. Bank National Association
	$30,000,000

	Wells Fargo Bank, National Association
	$30,000,000

	Citizens Bank of Pennsylvania
	$20,000,000

	Totals
	$400,000,000

    

Appendix C
Existing Permitted Sale LeasebacksAMENDED AND RESTATED

EMPLOYMENT AGREEMENT

This Amended and Restated Employment Agreement (this "Agreement") is made as of November 20, 2017, between Everest Global Services, Inc., a Delaware corporation (the "Company"), Everest Re Group, Ltd., ("Group"), Everest Reinsurance Holdings, Inc., a Delaware corporation ("Holdings") and Dominic J. Addesso (the "Executive").

WHEREAS, the Executive is currently serving as the President and Chief Executive of the Company;

WHEREAS, the Company, Holdings and the Executive are party to an Employment Agreement entered into as of July 1, 2012 and as amended effective as of December 4, 2015 (the "Prior Agreement") providing for the Executive's employment by the Company, and setting forth the terms and conditions for such employment;

WHEREAS, the Company, Group and Holdings desire to continue to employ the Executive and the Executive desires to continue to be employed by the Company, on the terms and conditions provided below; and

WHEREAS, this Agreement shall govern the employment relationship between Executive and the Company, Group and Holdings and supersedes all previous agreements and understandings with respect to such employment relationship; and

WHEREAS, the Company, Group, Holdings and the Executive desire to amend and restate the Prior Agreement in order to set forth the terms and conditions of the Executive's continued employment with the Company, Group and Holdings and have determined that it is in their respective best interests to enter into this Agreement on the terms and conditions as set forth herein.

NOW, THEREFORE, in consideration of the promises and mutual covenants contained herein and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereto agree as follows:

1.            ENGAGEMENT.

The Company agrees to continue to employ the Executive, and the Executive accepts such continued employment, on the terms and conditions set forth in this Agreement, unless and until such employment shall have been terminated as provided in this Agreement or as may otherwise be agreed to by the parties.

2.            TITLE AND DUTIES.

Executive shall serve as President and Chief Executive Officer of each of Group, Holdings and Everest Reinsurance Company and will report to the Board of Directors of Group ("Board") and shall perform duties consistent with these positions, shall abide by Company policies in effect from time to time, and shall devote his full business time and best efforts to his duties hereunder and the business and affairs of the companies over which he 

presides (except during vacation periods and periods of illness or other incapacity).  While Executive serves as Chief Executive Officer of the Group, if not previously appointed, the Board shall appoint Executive to the Group Board, and thereafter the Group Board shall nominate Executive for re-election as a member of its Board at each annual shareholders meeting during the term of this Agreement.  If elected to the Board by Group's shareholders, Executive shall serve on the Group Board without additional compensation.  Executive shall also serve, subject to his election, as a director and officer of any corporation which is a subsidiary or affiliate of the Company or Group, if elected by the stockholders or the board of directors of such corporation; provided, however, that in no event shall Executive be required to serve as a director of the Company unless he consents to do so.  The Executive may volunteer a reasonable portion of his non-working time to charitable, civic and professional organizations, as shall not interfere with the proper performance of his duties and obligations hereunder, provided the Executive shall not serve on any other board of directors of a public or private "for profit" company without the prior consent of the Board.  Executive will be based at the Company's facility currently located in Liberty Corner, New Jersey, subject to customary travel and business requirements.

3.            TERM.

This Agreement shall commence as of November 20, 2017, and shall continue in effect up through and including December 31, 2019, unless sooner terminated in accordance with this Agreement or as may otherwise be agreed to by the parties.  The parties further agree that any discussions regarding future extension of the term of this Agreement shall commence no later than twelve (12) months prior to the expiration date.  For the avoidance of doubt, the parties agree that Executive's termination of employment upon the expiration of the term of this Agreement shall be treated as "retirement" for purposes of this Agreement and any outstanding equity awards.

4.            COMPENSATION.

(a)            Base Salary.  Executive's base salary ("Base Salary") shall be $1,000,000 per annum, subject to appropriate increases, as determined and approved by the Compensation Committee of Group.  The Base Salary shall be paid in accordance with the Company's normal payroll practices in effect from time to time.

(b)            Annual Incentive Bonus.  Executive shall be eligible to participate in a bonus program or plan established by Group, subject to the approval of Group's shareholders, or to participate in an alternative bonus arrangement, as determined by the Compensation Committee of the Board of Directors of Group in consultation with Executive, and such arrangement to be consistent with current market industry practice.  Executive's target annual bonus opportunity ("Target Bonus") will be 125% of Base Salary.

(c)            Executive Stock Based Incentive Plan.  The Executive shall be eligible to participate in and receive such equity incentive compensation as may be granted by the Compensation Committee from time to time pursuant to the Everest Re Group, Ltd. 2010 Stock Incentive Plan, as such plan may then be in effect and as it may be amended or superseded from time to time or any successor plan (the "Stock Plan"), with a target value of 300% of Executive's 

2

Base Salary as applicable to the fiscal year prior to the calendar year in which the Compensation Committee makes its determination to grant such a share award.  All awards to the Executive under the Stock Plan shall be determined by the Compensation Committee in its discretion.  Except as expressly set forth in this Agreement, all equity awards shall be subject to the terms of the Stock Plan.

With respect to all outstanding and unvested Performance Stock Unit Award Agreements granted to Executive prior to this Agreement and any Performance Stock Unit Awards that may be granted during the term of this Agreement, the following sections of each such agreement shall be deemed amended as follows:

"5.       Termination of Employment.  Except as otherwise provided in this Paragraph 5, if the Participant's Date of Termination occurs for any reason prior to the last day of the Restricted Period, all Covered Units shall be immediately forfeited.

Notwithstanding the foregoing:

		(a)	
If the Participant's Date of Termination occurs due to a Qualifying Termination prior to the last day of the Restricted Period, then the Participant shall remain eligible to receive shares for any Installments of Covered Units (to the extent not previously forfeited or settled) on or after such Qualifying Termination subject to the terms of this Agreement and subject to the Participant (for all Qualifying Terminations other than due to Retirement or death or Disability) signing and not revoking a general release and waiver of all claims against the Corporation.  If such release is not effective on or before the last day of the sixty-day period following the Date of Termination, the Participant shall immediately forfeit all of the Covered Units.

		(b)	
In the case of a Qualifying Termination that occurs prior to a Change in Control (that is not a Vesting Change in Control) and that is not due to Retirement or death or Disability, the Participant shall immediately forfeit all Covered Units (to the extent not previously settled) in the event the Participant engages in any Competitive Activity or violates any non-compete or non-solicitation obligation contained in any other agreement to which Participant is a party."

With respect to outstanding and unvested restricted stock award agreements granted to Executive with grant dates of February 20, 2013, February 26, 2014, February 25, 2015, and February 24, 2016, and any restricted stock awards that may be granted during the term of this Agreement, paragraph 3(b) of each such agreement (or such successor vesting provision) shall be deemed amended as follows:

		"(b)	
The Participant shall become vested in the Covered Shares on the date that is the six-month anniversary of the Participant's Date of Termination, which Date of Termination occurs prior to the date the Covered Shares would otherwise become vested, provided that (i) such Date of Termination occurs by reason of the Participant's retirement, with the consent of the Committee, at or after the Participant's attainment of age of 65 (or at an earlier age with the consent of the Committee) during the term of the Participant's Employment Agreement or upon

3

or coincident with the expiration of the Employment Agreement, and (ii) the Participant does not engage in any Competitive Activity prior to the date that is the six-month anniversary of the Participant's Date of Termination.  If the Participant engages in Competitive Activity prior to such six-month anniversary of the Date of Termination, the Participant shall immediately forfeit all such unvested Covered Shares.

For purposes of this paragraph 3, 'Competitive Activity' shall mean engaging in, participating in, carrying on, owning, or managing, directly or indirectly, either for himself or as a partner, stockholder, investor, officer, director, employee, agent, independent contractor, representative or consultant of any person, partnership, corporation or other enterprise, in any 'Competitive Business' in any jurisdiction in which the Corporation or any of its affiliates actively conducts business.  For purposes of this Paragraph 3, 'Competitive Business' means the property and casualty insurance or reinsurance business. Engaging in the following activities will not be deemed to be engaging or participating in a Competitive Business: (i) investment banking; (ii) passive ownership of less than 2% of any class of securities of a company; and (iii) engaging or participating solely in a noncompetitive business of an entity which also separately operates a business which is a 'Competitive Business.' Notwithstanding anything herein to the contrary, if the Board of Directors fails to nominate and recommend the Participant for election as a member of the Board of Directors at any annual shareholders meeting following the expiration of the term of the Participant's Employment Agreement or if Participant is not re-elected to the Board of Directors by the Corporation's shareholders at such meeting, then following such meeting the Participant shall be permitted to serve as a non-executive director of any Competitive Business and shall not be considered as having engaged in Competitive Activity."

5.            BENEFITS.

(a)            Employer Benefit Plans.  During the Term, Executive will be eligible to participate, on terms which are generally available to the other senior executives of the Company and subject to the eligibility requirements of the applicable Company plans as in effect from time to time, in the Company's deferred compensation, medical, dental, vacation and disability programs and other benefits generally available to the Company's senior executives from time to time.

(b)            Business Expenses.  The Executive is authorized to incur and the Company shall either pay directly or reimburse the Executive for ordinary and reasonable expenses in connection with the performance of his duties hereunder, including, without limitation, expenses for (A) transportation, (B) business meals, (C) travel and lodging, and (D) similar items. The Executive agrees to comply with Company policies with respect to reimbursement and record keeping in connection with such expenses.

(c)            Retirement Benefits.  Executive will be eligible to participate in the Company's existing tax-qualified retirement plans and the Company's defined contribution supplemental

4

retirement plan ("defined contribution SERP") and defined benefit supplemental retirement plan ("defined benefit SERP"), as they may be in effect from time to time.

6.            TERMINATION OF EMPLOYMENT.

The employment of the Executive hereunder may be terminated by the Company at any time, subject to the Company providing the compensation and benefits in accordance with the terms of this Section 6, which shall constitute the Executive's sole and exclusive remedy and legal recourse upon any such termination of employment (and the Executive hereby waives and releases any and all other claims against the Company and its parent entities, affiliates, officers, directors and employees in such event).

(a)            Termination Due To Death Or Disability.  In the event of the Executive's death, Executive's employment shall automatically cease and terminate as of the date of death. If Executive shall become incapacitated by reason of sickness, accident or other physical or mental disability, as such incapacitation is certified in writing by a physician chosen by the Company and reasonably acceptable to Executive (or his spouse or representative if in the Company's reasonable determination Executive is not then able to exercise sound judgment), and shall therefore be unable to perform his duties hereunder for a period of either (i) one hundred twenty (120) consecutive days, or (ii) more than six (6) months in any twelve month period, with reasonable accommodation as required by law, then to the extent consistent with applicable law, Executive shall be considered "Disabled" and the employment of Executive hereunder and this Agreement may be terminated by Executive or the Company upon thirty (30) days' written notice to the other party following such certification.  In the event of the termination of employment due to Executive's death or Disability, Executive or his estate or legal representatives shall be entitled to receive:

(i)            payment for all accrued but unpaid Base Salary as of the date of Executive's termination of employment;

(ii)            reimbursement for expenses incurred by the Executive pursuant to Section 5(b) hereof up to and including the date on which employment is terminated;

(iii)            any earned benefits to which the Executive may be entitled as of the date of termination pursuant to the terms of any compensation or benefit plans (including, for the avoidance of doubt, any equity plans) to the extent permitted by such plans (with the payments described in subsections (i) through (iii) of this Section 6(a) collectively called the "Accrued Payments");

(iv)            any annual incentive bonuses earned but not yet paid for any completed full fiscal year immediately preceding the employment termination date; and

(v)            if employment termination occurs prior to the end of any fiscal year, a pro rata annual incentive bonus for such fiscal year in which employment termination occurs (based on actual business days in such fiscal year prior to such employment termination, divided by the total annual business days) determined and paid based on actual performance achieved for that fiscal year against the performance goals for that fiscal year.  Any annual incentive bonus due 

5

under section 6(a)(iv) or (v) shall be paid no later than sixty (60) days after Group's Compensation Committee determines the amount, if any, of such bonus.

(b)            Termination For Cause.  The Company may, at any time, terminate Executive's employment for Cause.  The term "Cause" for purpose of this Agreement shall mean (a) repeated and gross negligence in fulfillment of, or repeated failure of Executive to fulfill, his material obligations under this Agreement, in either event after written notice thereof, (b) material willful misconduct by Executive in respect of his obligations hereunder, including, but not limited to, fraudulent misconduct, (c) conviction of any felony, or any crime of moral turpitude or, (d) a material breach in trust committed in willful or reckless disregard of the interests of the Company or its affiliates or undertaken for personal gain.

For purposes of this Section 6 of the Agreement, an act or failure to act shall be considered "willful" only if done or omitted to be done without a good faith reasonable belief that such act or failure to act was in the best interests of the Company.

In the event of the termination of Executive's employment hereunder by the Company for Cause, then Executive shall be entitled to receive payment of the Accrued Payments.

(c)            Termination and Clawback. Notwithstanding anything in this Agreement to the contrary, if the Executive engages in material willful misconduct in respect of his obligations hereunder, including, but not limited to, fraudulent misconduct, during the term of this Agreement or during the period in which he is otherwise entitled to receive payments hereunder following his termination of employment, then (i) the Executive shall be required to repay to the Company any incentive compensation (including equity awards) paid to the Executive during the period in which he engaged in such misconduct, as determined by a majority of the Board of Directors of Group in its sole discretion, provided that no such determination may be made until Executive has been given written notice detailing the specific event constituting such material willful misconduct and an opportunity to appear before the Group Board (with legal counsel if so requested in writing by Executive) to discuss the specific circumstances alleged to give rise to the material willful misconduct; and (ii) upon such determination, if Executive has begun to receive payments or benefits under clauses (ii), (iii), (iv), (v) and (vi) of paragraph (d) of this Section 6, then such payments and benefits shall immediately terminate, and Executive shall be required to repay to the Company the payments and the value of the benefits previously provided to him hereunder.

(d)            Termination without Cause or for Good Reason.  The Company may terminate Executive's employment hereunder without Cause at any time.  The Executive may terminate his employment for Good Reason by providing thirty (30) days' prior written notice to the Company.  In the event of the termination of Executive's employment under this Section 6(d) by the Company without Cause or by the Executive for Good Reason, in each case prior to or more than twenty-four (24) months following a Material Change (as defined in the Everest Re Group, Ltd. Senior Executive Change of Control Plan, as amended and restated effective January 1, 2009 (the "Change of Control Plan")), then Executive shall be entitled to:

(i)            payment of the Accrued Payments;

6

(ii)            a separation allowance, payable in equal installments in accordance with normal payroll practices over a twenty-four (24) month period beginning immediately following the date of termination, equal to two (2) times the sum of Executive's Base Salary as in effect on January 1, 2014;

(iii)            any annual incentive bonuses as determined by the Group Compensation Committee to have been earned but not yet paid for any completed full fiscal year immediately preceding the employment termination date;

(iv)            if employment termination occurs prior to the end of any fiscal year, an annual incentive bonus for such fiscal year in which employment termination occurs determined and paid based on actual performance achieved for such fiscal year against the performance goals for that fiscal year;

(v)            except for outstanding and unvested Performance Stock Unit Awards addressed in Section 4(c), all of Executive's then unvested restricted stock or restricted stock units granted to Executive will fully vest and restrictions lapse on the last day of the six-month period immediately following such termination date, conditioned on the Company receiving from Executive the release of claims referred to in Section 6(h) below and on Executive's compliance with Section 12; and

(vi)            the Company shall arrange for the Executive to continue to participate on substantially the same terms and conditions as in effect for the Executive (including any required contribution) immediately prior to such termination, in the disability and life insurance programs provided to the Executive pursuant to Section 5(a) hereof until the earlier of (i) the end of the twenty-four (24) month period beginning on the effective date of the termination of Executive's employment hereunder, or (ii) such time as the Executive is eligible to be covered by comparable benefit(s) of a subsequent employer.  The foregoing of this Section 6(d)(vi) is referred to as "Benefits Continuation".  In addition, the Company agrees to pay Executive a single cash sum in order to enable Executive to pay for medical and dental coverage (through COBRA or otherwise) that is comparable to the medical and dental coverage in effect for Executive (and his dependents, if any) immediately prior to his termination of employment, with such cash amount equal to the cost of the premiums for such coverage that would apply if Executive were to elect COBRA continuation coverage under the Company's medical and dental plans following his termination of employment and continue such coverage for the twenty-four (24) month period beginning on the date of Executive's termination of employment.  The Executive agrees to notify the Company promptly if and when he begins employment with another employer and if and when he becomes eligible to participate in any benefit or other welfare plans, programs or arrangements of another employer.

Notwithstanding the foregoing, the payments and benefits described in clauses (ii), (iii), (iv), (v) and (vi) above shall immediately terminate, and the Company shall have no further obligations to Executive with respect thereto, in the event that Executive breaches any provision of Section 11 or Section 12 of this Agreement, and if Executive breaches any provision of Section 11 or Section 12 after receipt of any such payment or benefit, then Executive shall be required to repay the Company the payments and benefits described in clauses (ii), (iii), (iv), (v) 

7

and (vi) above within thirty (30) days after notice from the Company that Executive has so breached the Section 11 or Section 12 of the Agreement.

For purposes of this Agreement, the term "Good Reason" means, without Executive's written consent: (i) a materially adverse change in the nature, title or status of his position or responsibilities; (ii) a reduction by the Company in the Base Salary, Target Bonus or the multiplier of 2.50 that would be used in calculating the Cash Payment referenced in Section IV(A) of the Senior Executive Change of Control Plan; (iii) failure of the Group Board to nominate Executive for election to the Group Board at an annual meeting of shareholders (other than solely due to any future stock exchange or other legal requirement prohibiting management directors or to the extent prohibited by the Group Bye-Laws); (iv) the Company requiring Executive to be based at a location in excess of fifty (50) miles from the location of the Company's principal executive office as of the effective date of this Agreement, except for required travel on company business or if Executive is required to relocate to Group's headquarters in Bermuda; or (v) a material breach of this Agreement by the Company.

Provided that in all cases of which, in each of subsections (i) through (v) in the immediately preceding paragraph, is not remedied by the Company within thirty (30) days of receipt of written notice of such event or breach delivered by Executive to the Company; provided further, that the Executive may only exercise his right to terminate this Agreement for Good Reason within the sixty (60) day period immediately following the occurrence of any of the events described in subsections (i) through (v) above.

(e)            Termination of Employment without Cause or for Good Reason following a Change-in-Control.  If the Company terminates Executive's employment without Cause or Executive terminates his employment for Good Reason, in each case within twenty four (24) months following a Material Change (as defined in the Change of Control Plan), the Company's sole obligation will be to provide to Executive the benefits and payments provided in that Change of Control Plan, and the Executive shall be entitled to no benefits or payments hereunder.  Executive shall be entitled to a multiplier of 2.50 for purposes of calculating the Cash Payment referenced in Section IV(A) of the Change of Control Plan.

Notwithstanding the foregoing, if the rights, compensation and benefits described in the Change of Control Plan pertaining to termination are less than those provided in this Agreement, as determined by Executive and the Group Board, Executive will only be entitled to the compensation, benefits and rights provided in this Agreement, and Executive waives and specifically disclaims any rights, benefits and compensation he would otherwise have been entitled to under the Change of Control Plan.

(f)            Voluntary Termination by the Executive without Good Reason.  In the event Executive terminates his employment without Good Reason, he shall provide ninety (90) days prior written notice of such termination to the Company. Upon such voluntary termination, the Executive will be entitled to the Accrued Payments only, but the Executive shall be entitled to no other benefits or payments hereunder. Without limiting all other rights and remedies of the Company under this Agreement or otherwise, a termination of employment by the Executive without Good Reason upon proper notice, will not constitute a breach by the Executive of this Agreement.

8

(g)            Resignation from all Boards.  Upon termination or cessation of Executive's employment with the Company for any reason, including the cessation of employment upon expiration of the term of this Agreement, Executive agrees immediately to resign his employment with the Company and all affiliates.  Any notice of termination or actual termination or cessation of employment shall act automatically to effect such resignation as well as resignation from any position on all boards of directors of any subsidiary or affiliate of the Company.

Notwithstanding the foregoing, and in further consideration for Executive to become vested in all outstanding and unvested restricted stock awards on the six (6) month anniversary of the date of termination, in addition to the vesting requirements set forth in Section 4(c) above the Executive shall continue to perform his service as a director on the Group Board following his cessation of employment until the conclusion of his elected term, unless such cessation is due to a termination of the Executive's employment by the Company for Cause.

(h)            Release of Claims as Condition.  The Company's obligation to pay the separation allowance and provide all other benefits and rights (including equity vesting) referred to in this Agreement shall be conditioned upon the Executive having delivered to the Company an executed full and unconditional release of claims against the Company, its parent entities, affiliates, employee benefit plans and fiduciaries, officers, employees, directors, agents and representatives satisfactory in form and content to the Company's counsel.

(i)            No Mitigation.  In no event shall Executive be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to Executive under any of the provisions of this Agreement, nor shall the amount of any payment hereunder be reduced by any compensation earned by Executive as a result of subsequent employment.

(j)            Time for Payment.  Subject to the terms and conditions set forth in Section 13, and except as otherwise expressly stated herein, benefits payable pursuant to this Section 6, if any, shall be paid within sixty (60) days following Executive's termination of employment.

7.            INDEMNIFICATION.

(a)            The Company shall indemnify, defend and hold Executive harmless, to the maximum extent permitted by law, against all judgments, fines, amounts paid in settlement and all reasonable expenses, including attorneys' fees incurred by him, in connection with the defense of, or as a result of, any action or proceeding (or any appeal from any action or proceeding) in which Executive is made or is threatened to be made a party by reason of the fact that he is or was an officer or director of the Company, regardless of whether such action or proceeding is one brought by or in the right of the Company.  Each of the parties hereto shall give prompt notice to the other of any action or proceeding from which the Company is obligated to indemnify, defend and hold harmless Executive of which it or he (as the case may be) gains knowledge.

(b)            The Company agrees that the Executive shall be covered and insured up to the full limits provided by all directors' and officers' insurance which the Company then maintains to indemnify its directors and officers (and to indemnify the Company for any obligations which it 

9

incurs as a result of its undertaking to indemnify its officers and directors), subject to applicable deductibles and to the terms and conditions of such policies.

8.            ARBITRATION.

The parties shall use their best efforts and good will to settle all disputes by amicable negotiations. The Company and Executive agree that, with the express exception of any dispute or controversy arising under Sections 11 and 12 of this Agreement, any controversy or claim arising out of or in any way relating to Executive's employment with the Company, including, without limitation, any and all disputes concerning this Agreement and the termination of this Agreement that are not amicably resolved by negotiation, shall be settled by arbitration in New Jersey, or such other place agreed to by the parties, as follows:

Any such arbitration shall be heard by a single arbitrator. Except as the parties may otherwise agree, the arbitration, including the procedures for the selection of an arbitrator, shall be conducted in accordance with the National Rules for the Resolution of Employment Disputes of the American Arbitration Association ("AAA").

All attorneys' fees and costs of the arbitration shall in the first instance be borne by the respective party incurring such costs and fees, but the arbitrator shall have the discretion to award costs and/or attorneys' fees as he or she deems appropriate under the circumstances. The parties hereby expressly waive punitive damages, and under no circumstances shall an award contain any amounts that are in any way punitive in nature.

Judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof.

It is intended that controversies or claims submitted to arbitration under this Section 8 shall remain confidential, and to that end it is agreed by the parties that neither the facts disclosed in the arbitration, the issues arbitrated, nor the view or opinions of any persons concerning them, shall be disclosed to third persons at any time, except to the extent necessary to enforce an award or judgment or as required by law or in response to legal process or in connection with such arbitration.

Notwithstanding the foregoing, each of the parties agrees that, prior to submitting a dispute under this Agreement to arbitration, the parties agree to submit for a period of sixty (60) days, to voluntary mediation before a jointly selected neutral third party mediator under the auspices of JAMS, New York, New York Resolutions Center (or any successor location), pursuant to the procedures of JAMS International Mediation Rules conducted in New Jersey (however, such mediation or obligation to mediate shall not suspend or otherwise delay any termination or other action of the Company or affect the Company's other rights).

9.            ENFORCEABILITY.

It is the intention of the parties that the provisions of this Agreement shall be enforced to the fullest extent permissible under the laws and public policies of each state and jurisdiction in which such enforcement is sought, but that the unenforceability (or the modification to conform with such laws or public policies) of any provisions hereof, shall not render 

10

unenforceable or impair the remainder of this Agreement.  Accordingly, if any provision of this Agreement shall be determined to be invalid or unenforceable, either in whole or in part, this Agreement shall be deemed amended to delete or modify, as necessary, the offending provisions and to alter the balance of this Agreement in order to render the same valid and enforceable to the fullest extent permissible.

10.            ASSIGNMENT.

This Agreement is personal in nature to the Company and the rights and obligations of the Executive under this Agreement shall not be assigned or transferred by the Executive.  This Agreement and all of the provisions hereof shall be binding upon, and inure to the benefit of, the parties hereto and their successors (including successors by merger, consolidation, sale or similar transaction, permitted assigns, executors, administrators, personal representatives, heirs and distributees).

11.            NON-DISCLOSURE; NON-SOLICITATION; COVENANTS OF EXECUTIVE; COOPERATION.

(a)            Executive acknowledges that as a result of the services to be rendered to the Company hereunder, Executive will be brought into close contact with many confidential affairs of the Company, its parents, subsidiaries and affiliates, not readily available to the public. Executive further acknowledges that the services to be performed under this Agreement are of a special, unique, unusual, extraordinary and intellectual character; that the business of the Company is international in scope; that its goods and services are marketed throughout the United States and other countries; and that the Company competes with other organizations that are or could be located in any part of the United States or the world.

(b)            In recognition of the foregoing, Executive covenants and agrees that, except as is necessary in providing services under this Agreement, or as required by law or pursuant to legal process or in connection with an administrative proceeding before a governmental agency, Executive will not knowingly use for his own benefit nor knowingly divulge any Confidential Information and Trade Secrets of the Company, its parents, subsidiaries and affiliated entities, which are not otherwise in the public domain and, so long as they remain Confidential Information and Trade Secrets not in the public domain, will not disclose them to anyone outside of the Company either during or after his employment.  For the purposes of this Agreement, "Confidential Information" and "Trade Secrets" of the Company mean information which is proprietary and secret to the Company, its parents, subsidiaries and affiliated entities.  It may include, but is not limited to, information relating to present future concepts and business of the Company, its parents, subsidiaries and affiliates, in the form of memoranda, reports, computer software and data banks, customer lists, employee lists, books, records, financial statements, manuals, papers, contracts and strategic plans.  As a guide, Executive is to consider information originated, owned, controlled or possessed by the Company, its subsidiaries or affiliated entities which is not disclosed in printed publications stated to be available for distribution outside the Company, its parents, subsidiaries and affiliated entities as being secret and confidential. In instances where doubt does or should reasonably be understood to exist in Executive's mind as to whether information is secret and confidential to the Company, its subsidiaries and affiliated 

11

entities, Executive agrees to request an opinion, in writing, from the Company as to whether such information is secret and confidential.

(c)            Executive will deliver promptly to the Company on termination of his employment with the Company, or at any other time the Company may so request, all memoranda, notes, records, reports and other documents relating to the Company, its parents, subsidiaries and affiliated entities, and all property owned by the Company, its subsidiaries and affiliated entities, which Executive obtained while employed by the Company, and which Executive may then possess or have under his control.

(d)            Executive will promptly disclose to the Company all inventions, processes, original works of authorship, trademarks, patents, improvements and discoveries related to the business of the Company, its subsidiaries and affiliated entities (collectively "Developments"), conceived or developed during Executive's employment with the Company and based upon information to which he had access during the term of employment, whether or not conceived during regular working hours, though the use of Company time, material or facilities or otherwise. All such Developments shall be the sole and exclusive property of the Company, and upon request Executive shall deliver to the Company all outlines, descriptions and other data and records relating to such Developments, and shall execute any documents deemed necessary by the Company to protect the Company's rights hereunder. Executive agrees upon request to assist the Company to obtain United States or foreign letters patent and copyright registrations covering inventions and original works of authorship belonging to the Company.  If the Company is unable because of Executive's mental or physical incapacity to secure Executive's signature to apply for or to pursue any application for any United States or foreign letters patent or copyright registrations covering inventions and original works of authorship belonging to the Company, then Executive hereby irrevocably designates and appoints the Company and its duly authorized officers and agents as his agent and attorney in fact, to act for and in his behalf and stead to execute and file any such applications and to do all other lawfully permitted acts to further the prosecution and issuance of letters patent or copyright registrations thereon with the same legal force and effect as if executed by him.  Executive hereby waives and quitclaims to the Company any and all claims, of any nature whatsoever, that he may hereafter have for infringement of any patents or copyright resulting from registrations belonging to the Company.

(e)            The Executive agrees that for a period of twenty-four (24) months after the termination or cessation of the Executive's employment with the Company for any reason, except in the case of a Voluntary Termination by Executive without Good Reason in which case the period of time shall be twelve (12) months, (except that the time period of such restrictions shall be extended by any period during which the Executive is in violation of this Section 11(e)) the Executive will not:

(i)            directly or indirectly solicit, attempt to hire, or hire any employee of the Company or its affiliates (or any person who may have been employed by the Company or its affiliates during the last year of the Executive's employment with the Company), or assist in such hiring by any other person or business entity or encourage, induce or attempt to induce any such employee to terminate his or her employment with the Company or its affiliates; or

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(ii)           take action intended to encourage any vendor or supplier of the Company or its affiliates to cease to do business with the Company or its affiliates or materially reduce the amount of business the vendor or supplier does with the Company or its affiliates; or

(iii)          materially disparage the Company or its affiliates.

(f)            Executive agrees to cooperate with the Company, during the term of this Agreement and at any time thereafter (including following Executive's termination of employment for any reason), by making himself reasonably available to testify on behalf of the Company, its parents, subsidiaries and affiliates in any action, suit, or proceeding, whether civil, criminal, administrative, or investigative, and to assist the Company, in any such action, suit, or proceeding, by providing information and meeting and consulting with the Board or its representatives or counsel, or representatives or counsel to the Company, as requested; provided, however that it does not materially interfere with his then current professional activities.  The Company agrees to reimburse Executive for all reasonable expenses actually incurred in connection with his provision of testimony or assistance.

12.            NON-COMPETITION AGREEMENT.

The Executive agrees that throughout the term of his employment, and for a period of twenty-four (24) months after termination or cessation of employment for any reason, except in the case of a Voluntary Termination by Executive without Good Reason in which case the period of time shall be twelve (12) months, (except that the time period of such restrictions shall be extended by any period during which the Executive is in violation of this Section 12), he will not engage in, participate in, carry on, own, or manage, directly or indirectly, either for himself or as a partner, stockholder, investor, officer, director, employee, agent, independent contractor, representative or consultant of any person, partnership, corporation or other enterprise, in any "Competitive Business" in any jurisdiction in which the Company or any of its affiliates actively conducts business.  For purposes of this Section 12, "Competitive Business" means the property and casualty insurance or reinsurance business.

The Executive's engaging in the following activities will not be deemed to be engaging or participating in a Competitive Business: (i) investment banking; (ii) passive ownership of less than 2% of any class of securities of a company; and (iii) engaging or participating solely in a noncompetitive business of an entity which also separately operates a business which is a "Competitive Business".

The Executive acknowledges, with the advice of legal counsel, that he understands the foregoing provisions of this Section 12 and that these provisions are fair, reasonable, and necessary for the protection of the Company's business.

Executive agrees that the remedy at law for any breach or threatened breach of any covenant contained in Sections 11 and 12 will be inadequate and that the Company and its affiliates, in addition to such other remedies as may be available to it, in law or in equity, shall be entitled to injunctive relief without bond or other security.

Notwithstanding anything herein to the contrary, (i) if the Group Board fails to nominate and recommend Executive for election as a member of the Board at any annual shareholders 

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meeting following the expiration of the term of this Agreement or if Executive is not re-elected to the Board by the Group's shareholders at such meeting, then following such meeting the Executive shall be permitted to serve as a non-executive director of any Competitive Business, and (ii) if the Group Board fails to recognize or accept Executive's notice of retirement upon the expiration of the term of this Agreement (other than on account of a termination of Executive's employment hereunder by the Company for Cause), which recognition or acceptance shall not be unreasonably withheld, the provisions of this Section 12 shall not apply to Executive following the Executive's termination or cessation of employment upon the expiration of the term of this Agreement.

To the extent Executive accepts an appointment as a non-executive director of an entity engaged in Competitive Business pursuant to subsection (i) above, Executive shall notify the Group Board of such acceptance and position and identify the entity.

13.            TAXES.

(a)            All payments to be made to and on behalf of the Executive under this Agreement will be subject to required withholding of federal, state and local income, employment and excise taxes, and to related reporting requirements.

(b)            Notwithstanding anything in this Agreement to the contrary, it is the intention of the parties that this Agreement comply with Section 409A of the Internal Revenue Code, as amended (the "Code") and any regulations and other guidance issued thereunder, and this Agreement and the payment of any benefits hereunder shall be operated and administered accordingly.  Specifically, but not by limitation, the Executive agrees that if, at the time of termination of employment, the Company is considered to be publicly traded and he is considered to be a specified employee, as defined in Section 409A, then some or all of such payments to be made hereunder as a result of his termination of employment shall be deferred for no more than six (6) months following such termination of employment, if and to the extent the delay in such payment is necessary in order to comply with the requirements of Section 409A of the Code. Upon expiration of such six (6) month period (or, if earlier, his death), any payments so withheld hereunder from the Executive hereunder shall be distributed to the Executive, with a payment of interest thereon credited at a rate of prime plus 1 % (with such prime rate to be determined as of the actual payment date).

(c)            With respect to any amount of expenses eligible for reimbursement that is required to be included in the Executive's gross income for federal income tax purposes, such expenses shall be reimbursed to the Executive no later than December 31 of the year following the year in which the Executive incurs the related expenses.  In no event shall the amount of expenses (or in-kind benefits) eligible for reimbursement in one taxable year affect the amount of expenses (or in-kind benefits) eligible for reimbursement in any other taxable year (except for those medical reimbursements referred to in Section 105(b) of the Internal Revenue Code of 1986), nor shall Executive's right to reimbursement or in-kind benefits be subject to liquidation or exchange for another benefit. 

(d)            If the benefits payable hereunder constitute deferred compensation within the meaning of Section 409A of the Code, then Executive shall execute and deliver to the Company 

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such release within sixty (60) days following the receipt of the general release, or if later, immediately following the expiration of any revocation period required by law.  Benefits that would have otherwise been payable during such sixty (60) day period shall be accumulated and paid on the 60th day following Executive's termination, provided such release shall have been executed and such revocation periods shall have expired.  If a bona fide dispute exists, then Executive shall deliver a written notice of the nature of the dispute to the Company within thirty (30) days following receipt of such general release.  Benefits shall be deemed forfeited if the release (or a written notice of a bona fide dispute) is not executed and delivered to the Company within the time specified herein.

(e)            Termination of employment, or words of similar import, used in this Agreement means, for purposes of any payments under this Agreement that are payments of deferred compensation subject to Section 409A of the Code, "separation from service" as defined in Section 409A of the Code and the regulations promulgated thereunder.

14.            SURVIVAL.

Anything in Section 6 hereof to the contrary notwithstanding, the provisions of Section 7 through 16 shall survive the expiration or termination of this Agreement, regardless of the reasons therefor.

15.            NO CONFLICT; REPRESENTATIONS AND WARRANTIES.

The Executive represents and warrants that (i) the information (written and oral) provided by the Executive to the Company in connection with obtaining employment with the Company or in connection with the Executive's former employments, work history, circumstances of leaving former employments, and educational background, is true and complete, (ii) he has the legal capacity to execute and perform this Agreement, (iii) this Agreement is a valid and binding obligation of the Executive enforceable against him in accordance with its terms, (iv) the Executive's execution, delivery or performance of this Agreement will not conflict with or result in a breach of any agreement, understanding, order, judgment or other obligation to which the Executive is a party or by which he may be. bound, written or oral, and (v) the Executive is not subject to or bound by any covenant against competition, non-disclosure or confidentiality obligation, or any other agreement, order, judgment or other obligation, written or oral, which would conflict with, restrict or limit the performance of the services to be provided by him hereunder.  The Executive agrees not to use, or disclose to anyone within the Company, its parents, subsidiaries or affiliates, at any time during his employment hereunder, any trade secrets or any confidential information of any other employer or other third party.  Executive has provided to the Company a true copy of any non-competition obligation or agreement to which he may be subject.

16.            MISCELLANEOUS.

(a)            Any notice to be given hereunder shall be in writing and delivered personally or sent by overnight mail, addressed to the party concerned at the address indicated below or to such other address as such party may subsequently give notice of hereunder in writing:

If to the Company or Holdings:

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Everest Global Services, Inc.

Westgate Corporate Center

477 Martinsville Road

P.O. Box 830

Liberty Corner, New Jersey 07938-0830

Attention: General Counsel

If to Executive:

Employee's last known address, as reflected in the Company's records.

With a copy to:

Willkie Farr & Gallagher LLP

787 Seventh Avenue

New York, New York 10019

Attention:  Michael Groll, Esq.

Any notice given as set forth above will be deemed given on the business day sent when delivered by hand during normal business hours, on the business day after the business day sent if delivered by a nationally-recognized overnight courier, or on the third business day after the business day sent if delivered by registered or certified mail, return receipt requested.

(b)            Law Governing.  This Agreement shall be deemed a contract made under and for all purposes shall be construed in accordance with, the laws of the State of New Jersey without reference to the principles of conflict of laws.

(c)            Jurisdiction.  Subject to Section 8 above, (i) in any suit, action or proceeding seeking to enforce any provision of this Agreement or for purposes of resolving any dispute arising out of or related to this Agreement (including Sections 11 and 12 or the transactions contemplated by this Agreement), the Company and the Executive each hereby irrevocably consents to the exclusive jurisdiction of any federal court located in the State of New Jersey or any of the state courts of the State of New Jersey; (ii) the Company and the Executive each hereby waives, to the fullest extent permitted by applicable law, any objection which it or he may now or hereafter have to the laying of venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum; (iii) process in any such suit, action or proceeding may be served on either party anywhere in the world, whether within or without the jurisdiction of such court, and, without limiting the foregoing, each of the Company and the Executive irrevocably agrees that service of process on such party, in the same manner as provided for notices in Section 16(a) above, shall be deemed effective service of process on such party in any such suit, action or proceeding; and (iv) WAIVER OF JURY TRIAL: EACH OF THE COMPANY AND THE EXECUTIVE HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDINGS ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT.

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(d)            Headings.  The Section headings contained in this Agreement are for convenience of reference only and are not intended to determine, limit or describe the scope or intent of any provision of this Agreement.

(e)            Number and Gender.  Whenever in this Agreement the singular is used, it shall include the plural if the context so requires, and whenever the feminine gender is used in this Agreement, it shall be construed as if the masculine, feminine or neuter gender, respectively, has been used where the context so dictates, with the rest of the sentence being construed as if the grammatical and terminological changes thereby rendered necessary have been made.

(f)            Entire Agreement.  This Agreement contains the entire agreement and understanding between the parties with respect to the subject matter hereof and supersedes any prior or contemporaneous understandings and agreements, written or oral, between and among them respecting such subject matter, including without limitation, the Prior Agreement.

(g)            Counterparts.  This Agreement may be executed in counterparts, each of which shall be deemed an original but both of which taken together shall constitute one instrument.

(h)            Expenses.  All reasonable legal and advisor fees and expenses incurred by Executive in negotiating and entering into this Agreement will be paid by the Company.  All such fees and expenses will be paid by the Company within thirty (30) days after the Company's receipt of the invoices therefor.

(i)            Amendments.  This Agreement may not be amended except by a writing executed by each of the parties to this Agreement.

(j)            No Waiver. No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by the Executive and such officer as may be specifically designated by the Board, No waiver by either party at any time of any breach by the other party of, or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time.

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IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of November 20, 2017.

	
EVEREST GLOBAL SERVICES, INC.

	
 

	
EVEREST REINSURANCE

	 
	
 

	
 

	
HOLDINGS, INC.

	 
	
 

	
 

	
 

	 
	
 

	
 

	
 

	 
	/S/ SANJOY MUKHERJEE	 	/S/ SANJOY MUKHERJEE	 
	Sanjoy Mukherjee	 	Sanjoy Mukherjee	 
	
Executive Vice President

	
 

	
Executive Vice President

	 

 

 

	
EVEREST RE GROUP, LTD.

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
/S/ SANJOY MUKHERJEE

	
 

	
Sanjoy Mukherjee

	
 

	
Executive Vice President

	
 

  

	
 

	
/S/ DOMINIC J. ADDESSO

	
Dominic J. Addesso

 

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