Document:

Exhibit

Exhibit 10.3

ASSIGNMENT AGREEMENT

This ASSIGNMENT AGREEMENT ("Agreement") is entered into as of January 16, 2017 (“Effective Date”) by and between:
Erie Insurance Exchange, a reciprocal insurance exchange organized under the provisions of Article X of the Insurance Company Law of 1921 of the Commonwealth of Pennsylvania, as amended, acting by and through its Attorney-in-Fact, Erie Indemnity Company, a Pennsylvania business corporation (“Exchange”), and
Erie Indemnity Company, a Pennsylvania business corporation (“Indemnity”).
The foregoing parties are referred to herein individually as a “Party” and collectively as the “Parties.”
RECITALS

A.Exchange and P.J. Dick, Inc. (“P. J. Dick”) entered into a Standard Form of Agreement Between Owner and Construction Manager (AIA Document A133-2009), as modified, and dated as of February 27, 2015 (the “P.J. Dick Agreement”), which is comprised of the executed AIA Document A133-2009 and all other documents and Exhibits referenced in Section 12.2 thereof.

B.Pursuant to the P.J. Dick Agreement, P.J. Dick agreed to perform construction management services for the construction of an approximately 340,000 square foot  office building (the “Project”), which will become part of Erie Insurance’s home office campus located in Erie, Pennsylvania (“HOC”).

C.Under the terms of the P.J. Dick Agreement, P.J. Dick agreed that Exchange has the right, in its sole discretion, to transfer and assign the P.J. Dick Agreement to Indemnity.

D.Exchange has sold, assigned and conveyed to Indemnity ownership of the real property that comprises the land upon which the office building will be built.

E.Exchange now wishes to transfer and assign to Indemnity all of its rights, benefits, interests and obligations in and under the P.J. Dick Agreement, and Indemnity wishes to accept all such rights, benefits, interests and obligations.

AGREEMENT

NOW, THEREFORE, in consideration for the mutual promises and consideration provided for herein, and other good and valuable consideration, the sufficiency of which is hereby acknowledged, and intending to be legally bound, the Parties hereby agree as follows:

1.Incorporation of Recitals.  The Recitals stated above are incorporated herein and form a part of the contractual Agreement between the Parties.

2.Assignment and Assumption.  Exchange hereby conveys, transfers, assigns and delegates to Indemnity the P.J. Dick Agreement (in its entirety) and all of its rights, benefits, interests, liabilities, duties and obligations in, to and under the P.J. Dick Agreement, or which arise out of or relate to the P.J. Dick Agreement, of whatever kind or nature, including, without limitation, all rights, interests and benefits in, to and under any insurance policy or additional insured coverage that may provide coverage relative to the P.J. Dick Agreement and/or the Project (collectively, the “Assigned Rights/Obligations”).  Indemnity hereby accepts, assumes and acquires all of the Assigned Rights/Obligations, and agrees to 

fully perform and assume all liabilities, duties and obligations under the P.J. Dick Agreement, of whatever kind or nature.

3.Effective.  This Agreement and the assignment and assumption provided for in Section 2 above is and shall be effective as of the Effective Date stated above.

4.Further Assurances.  The Parties will execute, acknowledge and deliver all such other and additional instruments, notices, releases and other documents and will do all such other acts as may be necessary or advisable to fully transfer, assign and delegate to Indemnity all of the Assigned Rights/Obligations and to fully carry out their respective obligations under this Agreement.

5.Representations.  Each Party hereby represents and warrants to the other Party that the execution, delivery and performance of this Agreement are within its corporate powers and have been duly authorized by all necessary corporate or other action, and that this Agreement constitutes its legal, valid and binding obligation.

6.Severability.  The invalidity or unenforceability of any portion or provision of this Agreement shall in no way affect the validity or enforceability of any other portion or provision hereof.  Any invalid or unenforceable portion or provision shall be deemed severed from this Agreement and the balance of the Agreement shall be construed and enforced as if the Agreement did not contain such invalid or unenforceable portion or provision.  If any provision of this Agreement is so declared invalid, the Parties shall promptly negotiate in good faith new provisions to eliminate such invalidity and to restore this Agreement as near as possible to its original intent and effect.

7.Governing Law.  This Agreement and the Parties’ performance hereunder shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania applicable to contracts made and performed in Pennsylvania without giving effect to any choice of law principles that would require or permit the application of the laws of another jurisdiction.

8.Counterpart Execution.  This Agreement may be executed by the Parties hereto in any number of counterparts (and by each of the Parties hereto on separate counterparts), each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute but one and the same instrument.

IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed as of the date first above written.

Erie Insurance Exchange, by its Attorney-in-
Fact, Erie Indemnity Company

By: /s/ Gregory J. Gutting    
Gregory J. Gutting,    EVP and CFO

Erie Indemnity Company

 /s/ Sean J. McLaughlin    
By: Sean J. McLaughlin 
Title: EVP and General Counsel

Page 2 of 2EX-10.4

 Exhibit 10.4 
  

			
	

	  	Document A133TM – 2009 Exhibit A

 Guaranteed Maximum Price Amendment 

for the following PROJECT: 
 (Name and address or
location) 
  

			
	 Construction of an approximately 340,000 square foot new office building at Erie

Insurance’s home office complex located in Erie, Pennsylvania at the following address:

125 East Sixth Street
 Erie, PA 16501

 
 THE OWNER:

 
 (Name, legal status and address)

 
 Erie Indemnity Company, a Pennsylvania business corporation with its principal offices
and place of business at
 144 East Sixth Street
 Erie, PA
16530
  
 THE CONSTRUCTION MANAGER:

 
 (Name, legal status and address)

 
 P.J. Dick, Inc.

P.O. Box 6774
 225 North Shore Drive

Pittsburgh, Pennsylvania 15212
  

ARTICLE A.1
  

§ A.1.1 Acceptance Of Guaranteed Maximum Price Proposal
  

In accordance with Section 2.2 of the Agreement, Construction Manager submitted to Owner its Guaranteed Maximum Price Proposal, dated June 30, 2017 (the
“GMP Proposal”), a copy of which is attached hereto. Owner hereby accepts the GMP Proposal, and the Owner and Construction Manager hereby amend the Agreement, pursuant to Section 2.2.6 of the Agreement, to establish a Guaranteed Maximum
Price and a guaranteed schedule for the Project as set forth below and in the GMP Proposal. Except as expressly amended by this Amendment, the Agreement shall remain in full force and effect and is otherwise unchanged by this Amendment.
	 	 ADDITIONS AND DELETIONS:
  

The author of this document has added information needed for its completion. The author may also have revised the text of the original AIA standard form. An
Additions and Deletions Report that notes added information as well as revisions to the standard form text is available from the author and should be reviewed . A vertical line in the left margin of this document indicates where
the author has added necessary information and where the author has added to or deleted from the original AIA text.
  

This document has important legal consequences. Consultation with an attorney is encouraged with respect to its completion or modification.

 
 AIA Document A201TM 2007,
General Conditions of the Contract for Construction, is adopted in this document by reference. Do not use
 with other general conditions unless this
document is modified.

	  
 ARTICLEA.2

 
 § A.2.1 Guaranteed Maximum Price

 
 Pursuant to Section 2.2.6 of the Agreement, the Owner and Construction Manager hereby
amend the Agreement to establish a Guaranteed Maximum Price. As agreed by the Owner and Construction Manager, the Guaranteed Maximum Price is an amount that the Contract Sum shall not exceed. The Contract Sum consists of the Construction
Manager’s Fee plus the Cost of the Work, as that term is defined in Article 6 of this Agreement.
	 	

  

			
	  
 § A.2.1.1 The Contract Sum is guaranteed by
the Construction Manager not to exceed Ninety Nine Million, Eight Hundred Seventy Five Thousand, Five Hundred Thirty-One U.S. Dollars ($99,875,531.00), subject to additions and deductions by Change Order as provided in the Contract Documents.

 
 § A.2.1.2 Itemized Statement of the Guaranteed Maximum Price. An
itemized statement of the Guaranteed Maximum Price organized by trade categories, allowances, contingencies, alternates, the Construction Manager’s Fee and other items that comprise the Guaranteed Maximum Price, is set forth in
Section 2 of the GMP Proposal.
	 	

  

			
	  
 lnit.

    /
	  	AIA Document A133TM – 2009 Exhibit A. Copyright © 1991, 2003 and 2009 by The American Institute of
Architects. All rights reserved. WARNING: This AIA® Document is protected by U.S. Copyright Law and International Treaties. Unauthorized reproduction or distribution of this AIA® Document, or any portion of it, may result in severe civil and criminal penalties, and will be prosecuted to the maximum extent possible under the law. This document was produced by AIA software
at 10:43:17 on 07/02/2017 under Order No.8590459320_ 1 which expires on 10/31/201 7, and is not for resale.
		  	User Notes:
                                         
                                         
                                         
                         (1782674219)

  
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 § A.2.1.3 The GMP Proposal includes various Alternates specified in Section 3. Owner is not, at
this time, accepting any of the Alternates, but shall have the right to do so (by written notice to Construction Manager) for the Alternate prices stated in the GMP Proposal through and including December 31, 2017. 

§ A.2.1.4 Allowances included in the Guaranteed Maximum Price are specified in Section 6 of the GMP Proposal. 

§ A.2.1.5 The Guaranteed Maximum Price and this Amendment are based upon the Qualifications and Exclusions contained in Section 4 of
the GMP Proposal and other clarifications stated therein. 
 § A.2.1.6 The Guaranteed Maximum Price is based upon the Drawings and
Specifications issued for the Project through Issue 114 and Architect’s response to all Requests for Information (RFI’s) received through June 8, 2017, as more fully specified in the GMP Proposal. 

§ A.2.1.7 The Guaranteed Maximum Price is based upon the assumption that Associated Finish Systems (“AFS”), the lowest, qualified
bidder and the subcontractor selected by Construction Manager for performance of Drywall and General Trades work, will execute Construction Manager’s subcontract and be able to obtain and furnish a payment and performance bond for the
prospective AFS subcontract. In the event AFS fails to execute its subcontract or is unable to obtain and furnish appropriate surety bonding for its prospective subcontract, Construction Manager shall negotiate with the other subcontractors that
provided bids for the Drywall and General Trades work and, subject to Owner approval (which shall not be unreasonably withheld), shall enter into a subcontract with the next lowest, qualified bidder for performance of the Drywall and General Trades
work (“Replacement Subcontractor”). In such event, Owner and Construction Manager shall execute a Change Order, amending the Guaranteed Maximum Price as follows: 

(a) In the event the subcontract price with the Replacement Subcontractor exceeds the AFS bid price, the Change Order shall provide for an
increase in the Guaranteed Maximum Price in an amount equal to fifty percent (50%) of the difference between the Replacement Subcontractor subcontract price and the AFS bid amount. 

(b) In the event the subcontract price for the Replacement Subcontractor is less than the AFS bid price, the Change Order shall provide for a
decrease in the Guaranteed Maximum Price equal to the difference between the Replacement Subcontractor subcontract price and the AFS bid amount. 

ARTICLE A.3 
 § A.3.1 Construction Schedule

 Construction Manager hereby agrees that the guaranteed date for achievement of Substantial Completion established by this Amendment is
January 20, 2020 and the date for achievement of Final Completion is April 20, 2020, as such may be adjusted hereafter by Change Order. The construction Schedule, with a data date of June 19, 2017, which is included in Section 7
of the GMP Proposal (a native Phoenix Project Manager file of which has been provided to Owner), shall be the baseline Schedule for this Agreement. 
  

					
	 /s/ Gregory J. Gutting
	 		  	 /s/ Jeffrey D. Turconi

	OWNER (Signature)	 		  	CONSTRUCTION MANAGER (Signature)
			
	 Gregory J. Gutting, EVP and Chief Financial Officer
	 		  	 Jeffrey D. Turconi, President

	(Printed name and title)	 		  	(Printed name and title)
	(Table deleted)	 		  	

  

			
	  
 lnit.     /
	  	AIA Document A133TM – 2009 Exhibit A. Copyright © 1991, 2003 and 2009 by The American Institute of Architects. All rights reserved. WARNING: This AIA®
Document is protected by U.S. Copyright Law and International Treaties. Unauthorized reproduction or distribution of this AIA® Document, or any portion of it, may result in severe civil and
criminal penalties, and will be prosecuted to the maximum extent possible under the law. This document was produced by AIA software at 10:43:17 on 07/02/2017 under Order No.8590459320_1 which expires on 10/31/2017, and is not for resale.
		  	User
Notes:                                       
                                         
                                         
                   (1782674219)

  
 2

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