Document:

EXHIBIT 10.1

 

CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED
FROM THE EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED.

[***] INDICATES THAT INFORMATION HAS BEEN
REDACTED.

 

 

 

 

 

 

QUOTA SHARE REINSURANCE AGREEMENT

 

AMONG

 

UNITED SPECIALTY INSURANCE COMPANY

 

AND

 

CRUSADER INSURANCE COMPANY

 

AND

 

UNIFAX INSURANCE SYSTEMS, INC.

 

 

EFFECTIVE APRIL 1, 2020

 

 

    	 

    	 

    

Table of Contents

 

Article Page

 

Preamble1

 

1Business Reinsured1

 

2Original Conditions
1

 

3Exclusions 2

 

4Commencement, Termination,
Terms & Conditions 3

 

5Loss and Loss Adjustment
Expense5

 

6Reports and Remittances6

 

7Errors and Omissions8

 

8Premium and Commission8

 

9 Access to Records11

 

10Arbitration 11

 

11Assessments, Assignments,
Fines and Penalties 12

 

12Premium Financing
13

 

13Insolvency 13

 

14Alternate Payee 14

 

15Hold Harmless Provisions
14

 

16Loss in Excess of
Policy Limits/ECO16

 

17Regulatory Matters
16

 

18The General Agent
17

 

19Reinsurer or General
Agent or Transfer 18

 

20Miscellaneous 18

 

21Loss and Unearned
Premium Reserve Funding20

 

22Savings Clause21

 

 

    	 

    	 

    

 

QUOTA SHARE REINSURANCE AGREEMENT

 

 

THIS QUOTA SHARE REINSURANCE AGREEMENT (this
"Agreement") is effective April 1, 2020, by and among CRUSADER INSURANCE COMPANY ("Reinsurer"), UNITED SPECIALTY
INSURANCE COMPANY ("Company"), and UNIFAX INSURANCE SYSTEMS, INC. ("General Agent");

 

W I T N E S S E T H:

 

In consideration of the mutual covenants contained
in this Agreement and upon the terms and conditions set forth below, the Parties hereto agree as follows:

 

PREAMBLE

 

It is understood that the Company, the Reinsurer
and the General Agent (hereinafter identified collectively as the "Parties" and each individually a “Party”)
hereto wish to enter into a reinsurance arrangement through which the Company is to bear no business, credit or insurance risk
whatsoever (save the risk of the Reinsurer's insolvency). The Reinsurer shall hold the Company harmless and indemnify it for these
and all risks. The Reinsurer further agrees that it shall make directly to the applicable parties any payments, arising out of
or relating in any way to its obligations and liabilities arising from this Agreement and/or the subject insurance business produced
hereunder, so that the Company shall not be required to make any such payments and then seek reimbursement from the Reinsurer.
The sole consideration provided by the Company, in exchange for the fees as agreed to, is to permit the Policies (as hereinafter
defined), which are reinsured 100% under this Agreement to be issued in the name of the Company. All provisions of this Agreement
shall be interpreted so as to be in accord with this Preamble.

 

ARTICLE I

BUSINESS REINSURED

 

1.01       Effective
as of the effective date of this Agreement, the Company obligates itself to cede to the Reinsurer, and the Reinsurer obligates
itself to accept, 100% of the Company's gross liability under all policies, certificates, contracts, binders, agreements or other
proposals or evidences of insurance, new and renewal policies, binders, and contracts of insurance (hereinafter called "Policies")
issued by and on behalf of the Company, in its sole discretion, as Property, General Liability, CMP Property (burglary and theft;
inland marine), and CMP Liability (burglary and theft, garage, fidelity) and miscellaneous coverages as endorsed during the term
of this Agreement, by or through the General Agent appointed by the Company at the request of the Reinsurer.

 

		1.02	Subject to Section 15.05 hereof, the maximum policy limits for Policies are as follows:

 

	Lines of Business	Maximum Policy Limits
	1.0	Property	
        $[***] total insurable value (greater than $[***]
        shall be facultative)

         

	17.0	General Liability	
        $[***] per occurrence

        $[***] in the aggregate

         

    	 

    	 

    

 

	5.1	CMP Property – burglary and theft; inland marine	
        $[***] total insurable value (greater than $[***]
        shall be facultative)

         

	5.2	CMP Liability – burglary and theft, garage, fidelity	
        $[***] per occurrence

        $[***] in the aggregate

         

 

It is understood that the General Agent shall not bind the Company
to amounts in excess of those stated above.

 

ARTICLE II

ORIGINAL CONDITIONS

 

2.01       Effective
as of the effective date of this Agreement, the Company obligates itself to cede to the Reinsurer, and the Reinsurer obligates
itself to accept, all of the Company's gross liability under all Policies issued by and on behalf of the Company by the General
Agent.

 

2.02       Business
ceded hereunder shall include every original policy, rewrite, renewal or extension (whether before or after the termination of
this Agreement) required by applicable statute, or by rule or regulation of any policy of insurance ceded hereunder by the Company
to the Reinsurer.

 

2.03       The
liability of the Reinsurer shall commence obligatorily and simultaneously with that of the Company as soon as the Company becomes
liable, and the premium on account of such liability shall be credited to the Reinsurer from the original date of the Company's
liability.

 

2.04       All
reinsurance for which the Reinsurer shall be liable, by virtue of this Agreement, shall be subject, in all respects, to the same
rates, terms, conditions, interpretations, waivers, the exact proportion of premiums paid to the Company without any deduction
for brokerage, and to the same modifications, alterations and cancellations, as the respective insurance of the Company to which
such reinsurance relates, the true intent of this Agreement being that the Reinsurer shall, in every case to which this Agreement
applies and in the proportion specified herein, follow the fortunes of the Company.

 

2.05       Nothing
herein shall in any manner create any obligations, establish any rights or create any direct right of action against the Reinsurer
in favor of any third party, or other person not party to this Agreement; or create any privity of contract between the policyholders
and the Reinsurer.

 

ARTICLE III

EXCLUSIONS

 

With respect to the classes
of business which the General Agent may be authorized to produce under this Agreement, the General Agent will not solicit or accept
proposals or bind the Company for insurance coverage on the following risks:

 

(a)All
business not specifically described as business covered under Article I of this Agreement.

 

    	 

    	 

    

ARTICLE
IV

COMMENCEMENT, TERMINATION, TERMS AND CONDITIONS

 

4.01       The
effective date of this Agreement is at 12:01 a.m. Central Time, on April 1, 2020. This Agreement shall remain continuously in force
until terminated according to the provisions set forth herein.

 

4.02       This
Agreement may be terminated as follows:

 

(a)       By
any Party hereto at any time, by providing at least ninety (90) days written notice to the other Parties, such notice to be sent
by certified mail, return receipt requested, postage prepaid;

 

(b)       Immediately
by mutual consent of the Company and Reinsurer;

 

(c)       Immediately
upon written notice by the Reinsurer or the Company in the event of the cancellation or non-renewal of the General Agent's license
by the California Department of Insurance;

 

(d)       By
the Reinsurer after thirty (30) days written notice to the General Agent and Company of the General Agent's failure to pay to the
Reinsurer all payments of premiums due hereunder, provided, however, that in the event such payment is received by the Reinsurer
prior to the date of cancellation stated in the Reinsurer's written notice this Agreement shall not be so terminated and said written
notice shall be of no further force or effect. If the Reinsurer receives such late premium within a ten (10) day period following
receipt of such notice, the Reinsurer shall inform the Company and the General Agent of such receipt as soon as the premium is
received and the termination of the Agreement for reason of default shall be rescinded;

 

(e)       Immediately,
upon written notice by the Company, if the Reinsurer or General Agent is found to be insolvent by a State Insurance Department
or court of competent jurisdiction, or is placed in supervision, conservation, rehabilitation, or liquidation, or has a receiver
or supervisor appointed. By the Reinsurer, upon thirty (30) days written notice, if the Company or General Agent is found to be
insolvent by a State Insurance Department or court of competent jurisdiction, or is placed in supervision, conservation, rehabilitation
or liquidation, or has a receiver or supervisor appointed;

 

(f)       By
the Company immediately and automatically without prior written notice should the Texas Department of Insurance or other regulatory
agency of competent jurisdiction, require cancellation or disallow credit for this reinsurance;

 

(g)       After
thirty (30) days written notice by any party in the event that the Company, the Reinsurer or the General Agent amalgamates with
or passes under the control of any other company or corporation or changes a majority of its officers or board of directors during
the term of this Agreement;

 

(h)       As
provided in Section 22.02 of this Agreement;

 

(i)           
Immediately by the Company if after the effective date of this Agreement: (i) the Reinsurer is required to secure its obligations
under this Agreement and the General Agency Agreement pursuant to Article XXI of this Agreement; or (ii) the Reinsurer is required
to increase the amount of collateral posted pursuant to Article XXI of this Agreement; or (iii) the Reinsurer fails to secure its
obligations as required under this Agreement; or

 

(j)       Automatically
and immediately, without notice upon cancellation or termination of the General Agency Agreement, as hereinafter defined.

 

4.03       When
this Agreement terminates for any reason, reinsurance hereunder shall continue to apply to the business in force at the time and
date of termination until expiration or cancellation of such business. It is understood that any Policies with effective dates
prior to the termination date but issued after the termination date are covered under this Agreement. Additionally, the reinsurance
hereunder shall continue to apply as to Policies, which must be issued or renewed, as a matter of state law or regulation or because
a producing agent has not been timely canceled, until the expiration dates on said Policies. The General Agent agrees that, notwithstanding
anything to the contrary, its appointment by the Company to produce business terminates when this Agreement terminates unless the
General Agent's authority has been terminated earlier; except that the Company shall provide the General Agent with the limited
agency authority needed to service the run-off of the business, e.g., issue, cancel, offer renewal where required by law.

 

4.04       Upon
termination of this Agreement, the Reinsurer and General Agent shall not be relieved of or released from any obligation created
by or under this Agreement in relation to payment, expenses, reports, accounting or handling, which relate to insurance business
reinsured under this Agreement. The Parties hereto expressly covenant and agree that they will cooperate with each other in the
handling of all such run-off insurance business until all Policies have expired either by cancellation or by terms of such Policies
and all outstanding losses and loss adjustment expenses have been settled. While by law and regulation, the Company recognizes
its primary obligations to its policyholders, the Reinsurer and General Agent recognize that to the extent possible there shall
be no cost to or involvement by the Company in servicing this run-off. Upon termination of this Agreement, the General Agent shall
service the run-off of the business, and its duties for such run-off shall include, but not be limited to, handling all claims,
and handling and servicing all policies through their natural expiration, together with any policy renewals, required to be made
by provisions of applicable law, whether or not the effective date of such renewal is subsequent to the effective date of cancellation
of this Agreement. All costs and expenses associated with the handling of such run-off business following the cancellation or termination
of this Agreement shall be borne solely by the General Agent; however, the Reinsurer shall be ultimately responsible for the run-off
and shall pay any such costs and/or expenses if the General Agent does not for any reason pay or cause to be paid such costs and
expenses. If for any reason the General Agent fails or is unable to service any such run-off business (or any business while the
Agreement is still in effect), including the payment of claims, then consistent with this Agreement, the Reinsurer's obligation
with respect to such run-off business shall continue and the Reinsurer shall appoint a successor to the General Agent, subject
to the approval of the Company, to administer and otherwise handle the run-off as provided herein. Such successor shall perform
all of the duties and obligations of the General Agent with respect to servicing such run-off business, including the payment of
claims. In addition, the Company in its sole discretion may terminate the authority of the General Agent or a successor thereto
to handle such run-off business and the Reinsurer shall then appoint a successor to handle the run-off, subject to the Company's
approval, at no cost to the Company.

 

    	 

    	 

    

4.05       In
the event this Agreement is terminated, the Reinsurer shall remain liable to and shall, immediately upon request, reimburse the
Company for any assessment made upon the Company. The Company shall likewise remain liable for, and account to the Reinsurer for
any recovery of such assessment, or any credit allowed to it against its premium tax, applicable to the risks reinsured hereunder.

 

4.06       The
title and ownership of all undelivered Policies, books, supplies or other property related to the reinsured business is in the
name of the Company, and upon termination these shall be delivered immediately by the Reinsurer and/or General Agent to the Company,
without compelling the Company to resort to any legal proceedings to secure the aforesaid described property of the Company.

 

4.07       This
Agreement provides for termination on a run-off basis. The relevant provisions of the Agreement shall apply to the business being
run-off and shall survive the termination of this Agreement.

 

4.08       At
the option of the Company, this Agreement may be terminated on a cut-off basis. If the Company so elects, (i) the Reinsurer shall
pay to the Company (or its designee) an amount equal to the sum of the ceded outstanding unearned premium as of the date of termination,
and (ii) the Reinsurer shall incur no liability for losses occurring subsequent to the date of termination.

 

4.09       Upon
termination of this Agreement, the Reinsurer shall ensure the General Agent takes those actions necessary, including, but not limited
to, sending statutorily prescribed non-renewal notices to insureds in a timely manner to effectuate the intent that there be no
renewals or new policies (but for those required by applicable law or regulation) after the termination of this Agreement.

 

ARTICLE V

LOSS AND LOSS ADJUSTMENT EXPENSE

 

5.01       All
loss settlements made by the Company or the General Agent under the terms of this Agreement, whether under strict policy conditions
or by way of compromise, shall be unconditionally binding upon the Reinsurer in proportion to its participation, and the Reinsurer
shall benefit proportionately in all salvage and recoveries. The Reinsurer shall assume and be liable for and pay on behalf of
the Company, 100% of all losses incurred in connection with the risks covered by this Agreement, including, but not limited to,
judgments (including interest thereon) and settlements in connection therewith. The Reinsurer shall also be liable for 100% of
and pay on behalf of the Company all costs, expenses, and fees (including, but not limited to, attorney's fees) incurred by the
Company in connection with the investigation or settlement or contesting the validity of claims or losses covered under this Agreement
(this shall include but, of course, is not limited to, costs, expenses and fees resulting from a declaratory judgment or injunctive
action brought by an insured or other person).

 

5.02       The
Reinsurer's 100% share of losses, expense and loss recovery shall be carried into the monthly accounting for which provision is
hereinafter made.

 

5.03       The
Company hereby empowers the Reinsurer, and the Reinsurer may, in its discretion, and under its supervision appoint the General
Agent, to accept notice of and investigate any claim arising under any of the Policies, to pay, adjust, settle, resist or compromise
any such claim, unless the Company specifically directs to the contrary with respect to any individual

    	 

    	 

    

claim. In the latter event, the Reinsurer and/or General Agent shall
follow the instructions of the Company as respects such claim. All such loss settlements, whether under strict policy conditions
or by the way of compromise, shall be unconditionally binding upon the Reinsurer. However, should the Company be ordered or instructed
by an applicable Department of Insurance or any other regulatory agency of competent jurisdiction to take any action or refrain
from taking any action with regard to any claim, the Reinsurer shall be bound by and shall follow the order or instructions of
such regulatory agency as though Reinsurer were the object of such order or instruction. The Reinsurer will exercise the authority
granted hereunder in good faith and toward the end of paying any and all valid claims.

 

5.04       All
records pertaining to claims arising under insurance policies issued on behalf of the Company through or by the General Agent subject
to this Agreement shall be deemed to be jointly owned records of the Company and the Reinsurer, and shall be made available to
the Company or the Reinsurer or their respective representatives or any duly appointed examiner for any state within the United
States; and these records shall be kept in the State of California or such other jurisdiction as may be required by applicable
state law or regulation. Notwithstanding the foregoing, the Reinsurer is authorized to maintain duplicate working files of all
such records outside the State of California. The Company, the Reinsurer and the General Agent each agree that it will not destroy
any such records in its possession without the prior written approval of the other parties except that the Company shall not be
required to retain files longer than required by the guidelines set forth by any applicable state department of insurance.

 

5.05       The
Reinsurer shall, or shall cause the General Agent to, establish a separate claim register or method of recording claims arising
under the Policies covered by this Agreement so that all claims may be segregated and identified separate and apart from other
records of the Reinsurer or General Agent, with such claims register to identify each claim on an individual case basis both as
to identify the insured(s) and the claimant, the reserve for loss and adjusting expense. Such claim register shall be kept in a
manner whereby the Company can, at any time, determine the status of any claim arising under Policies covered by this Agreement.
Such records shall reflect the amount of reserves established for the individual claim and the date when such reserve was established,
and if closed, whether such claim was closed with or without payment, and if with payment, the amount paid thereon.

 

ARTICLE VI

REPORTS AND REMITTANCES

 

6.01       In
lieu of the Company furnishing the Reinsurer with bordereaux showing the particulars of all reinsurances ceded hereunder, the Reinsurer
shall furnish or cause to be furnished to the Company, within thirty (30) days after the close of each of the respective periods
indicated below (on forms agreeable to the Parties), with monthly, quarterly and annual reports showing the following statistical
data in respect to the business reinsured hereunder:

 

(a) Monthly, with the
data segregated by major classes.

 

(i)       Ceded
premiums written.

(ii)       Ceded
unearned premiums.

(iii)       Ceded
losses paid.

(iv)       Ceded
adjustment expenses paid during this month.

(v)       Losses
outstanding.

(vi)       Ceding
fee due the Company.

(vii)       Commission
due the General Agent.

 

 

    	 

    	 

    

(b)       Annually, with the data
segregated by major classes.

 

		(i)	Annual summaries of net premiums written, net losses paid, net adjusting expenses paid during the
year in such form so as to enable the Company to record such data in its annual convention statement. Such information is to be
furnished not later than December 15th of the year being reported. In force and unearned premium segregated as to advance premiums,
premiums running twelve (12) months or less from inception date of policy, and premiums running more than twelve (12) months from
inception date of policy in such form as to enable the Company to record such data in its convention annual statement.

 

		(ii)	Annual summaries of net premiums written by geographical location in such form as to enable the
Company to record such premiums in its annual report to the applicable Catastrophe Property Insurance Association.

 

(c)       Periodic,
with data segregated by major lines.

 

Statistical or other
data as may be requested from time to time by regulatory authorities.

 

6.02       In
order to facilitate the handling of the business reinsured under this Agreement, the Reinsurer agrees to furnish the Company with
any additional reports necessary to provide the information needed by the Company to prepare its monthly, quarterly and annual
statements to regulatory authorities.

6.03       Within
thirty (30) days after the end of each month, the General Agent shall remit to the Reinsurer the following:

 

(a)       Ceded
net written premium during the month, less;

 

(b)       General
Agent's commission thereon, less;

 

		(c)	Paid losses and loss adjustment expenses paid, provided such losses and loss adjustment expenses
have not been deducted on behalf of the Company in any previous monthly report.

 

The positive balance of (a) less (b) less (c)
shall be remitted by the General Agent with its report. Any balance shown to be due the Company shall be remitted by the Reinsurer
as promptly as possible after receipt and verification of the General Agent's report.

 

ARTICLE VII

ERRORS AND OMISSIONS

 

7.01       The
Company shall not be prejudiced in any way by any omission through clerical error, accident or oversight to cede to the Reinsurer
any reinsurance rightly falling under the terms of this Agreement, or by erroneous cancellation, either partial or total, or any
cession, or by omission to report, or by erroneously reporting any losses, or by any other error or omission, but any such error
or omission shall be corrected immediately upon discovery.

 

    	 

    	 

    

7.02       Should
the Company suffer any loss whatsoever arising out of, relating to or in connection with this Agreement, the Reinsurer shall assume
loss for its own account and save and hold the Company harmless therefor.

 

ARTICLE VIII

PREMIUM AND COMMISSION

 

8.01       In
consideration of the acceptance by the Reinsurer of one hundred percent (100%) of the Company's liability on insurance business
reinsured hereunder, the Reinsurer is entitled to one hundred percent (100%) of the Net Premiums (as hereinafter defined) received
by the General Agent or the Reinsurer on Policies reinsured less (i) the ceding fee allowed the Company pursuant to Section 8.02
hereof, (ii) the commission paid to the General Agent and (iii) premium taxes on Policies subject to reinsurance hereunder. "Net
Premiums" shall mean the gross premiums charged on all original and renewal Policies written on behalf of the Company, less
return premiums (excluding policy fees). Such amounts as provided in Section 5.09 of the General Agency Agreement (as hereinafter
defined) shall be paid to the Reinsurer or received from the Reinsurer by the General Agent on behalf of the Company. “Net
Policy Fees” shall mean gross policy fees, if any, charged on all original and renewal Policies written on behalf of the
Company, less return policy fees.

 

8.02       It
is understood that the General Agent shall pay, and the Reinsurer shall guarantee, the Company directly a fee within thirty (30)
days following the end of each month, [***] percent ([***]%) of Net Premiums and Net Policy Fees, plus the amount of assessments
and state premium taxes as provided in this Article VIII. Notwithstanding anything else contained herein to the contrary, regardless
of the amount of Net Premiums, the minimum ceding fee due the Company shall be (i) $500,000 for the first twenty-four month period
after the effective date of the Agreement, plus the aforementioned assessments and state premium taxes and (ii) $250,000 for each
twelve-month period thereafter during which the Agreement is in effect, plus the aforementioned assessments and state premium taxes.
This minimum ceding fee shall not be affected by the amounts of Net Premiums written in other twelve-month or twenty-four month,
as applicable, and shall not be reduced by reason of payments in excess of the minimum in other periods. Upon termination of this
Agreement, the minimum fee shall be prorated to the effective date of such termination unless there are Policies issued after the
termination of this Agreement. In such cases, the minimum fee shall continue past the termination of this Agreement until such
time as no further Policies are issued. The minimum ceding fee for each period shall be paid within sixty (60) days of the end
of each period. For these purposes, a policy's entire premium shall be applied to the period in which the policy is written. During
the term of this Agreement, the General Agent shall be allowed to pay the ceding fee payable to the Company under this Section
8.02 on the basis of premiums written; provided, however, that the General Agent shall remain liable for the full amount of the
ceding fee (i.e., based on premiums written) as specified above.

 

8.03       The
General Agent shall allow and pay within thirty (30) days of the end of each month to the Company an amount equal to the state
premium tax on the Net Premiums and Net Policy Fees reinsured hereunder for the past month. Should any additional premium tax be
assessed at any time on the Net Premiums and Net Policy Fees reinsured hereunder, the Reinsurer shall pay the Company such additional
premium tax within thirty (30) days of being informed by the Company of such additional premium tax. The Parties acknowledge that
at the effective date of this Agreement, the applicable Departments of Insurance (or other state agency responsible for collecting
premium taxes) may require the payment of estimated premium taxes in advance on

    	 

    	 

    

a semi-annual basis. The Reinsurer shall, therefore, pay to the Company
within five days prior to the due date of any such estimated premium tax payment, the amount that would be due based upon the business
produced hereunder. The General Agent shall also be responsible for the filing and payment of any and all other applicable taxes
including, but not limited to, federal excise taxes. All such filings shall be made in the name of the party chosen by the Company.
Should the General Agent fail to file for or pay any taxes due under this Section 8.03, the Reinsurer shall make such filings and/or
payments as required hereunder.

 

8.04       The
Reinsurer hereby guarantees that the Company will receive the ceding fee provided hereunder irrespective of any events, losses
or developments for the term of this Agreement. Such payment is not dependent upon the performance of the General Agent, underwriting
experience, loss experience, whether premium is collected or not, or any other event foreseen or unforeseen by the parties at the
inception of this Agreement. The Reinsurer shall guarantee payment to the Company of its ceding fee on all premiums reinsured hereunder
(prior to deduction of premiums, if any, ceded by the Company for inuring reinsurance), and in addition guarantees those amounts
described in Section 8.06 of this Agreement and is directly responsible for payment of the amount described in Article XI. The
Company shall allow return ceding fees on return premiums at the same rates.

 

8.05       The
Reinsurer shall allow the General Agent a provisional commission of [***]% on all premiums ceded to the Reinsurer hereunder. The
General Agent shall allow the Reinsurer return commission on return premiums at the same rate. This is an obligation owing directly
from the Reinsurer to the General Agent. The General Agent shall not seek to recover from the Company, any commissions due and
the Reinsurer shall not seek to recover from the Company, any return commissions due. No funds are due the General Agent from the
Company.

 

8.06       It
is expressly agreed that the commission allowed the General Agent includes provision for premium taxes, bureau fees and ceding
fees. General Agent shall pay to the Company all premium taxes and ceding fees payable for policies subject to reinsurance hereunder.
In the event that the ceding fee and premium taxes are not so paid by the General Agent within 60 days following the end of the
month, the unpaid balance shall be paid directly to the Company by the Reinsurer.

 

ARTICLE IX

ACCESS TO RECORDS

 

The Reinsurer or its duly
appointed representatives shall have free access at any and all reasonable times to such books and records of the Company or General
Agent, its departmental or branch offices, as shall reflect premium and loss transactions of the Company and/or the business produced
hereunder, for the purpose of obtaining any and all information concerning this Agreement or the subject matter thereof. Likewise,
the Company or its duly appointed representatives shall have free access at any and all reasonable times to such books and records
of the Reinsurer and/or General Agent, its departmental or branch offices as shall reflect premium and loss transactions of the
Company and/or the business produced hereunder, for the purpose of obtaining any and all information concerning this Agreement
or the subject matter hereof.

 

ARTICLE X

ARBITRATION

 

    	 

    	 

    

10.01       As
a condition precedent to any right of action hereunder, in the event of any dispute or difference of opinion hereafter arising
between the Company and the Reinsurer with respect to this Agreement, or with respect to these Parties' obligations hereunder,
it is hereby mutually agreed that such dispute or difference of opinion shall be submitted to arbitration.

 

10.02       One
arbiter (an "Arbiter") shall be chosen by the Company and one Arbiter shall be chosen by the Reinsurer and an umpire
(an "Umpire") shall be chosen by the Arbiters, all of whom shall be active or retired disinterested executive officers
of property and casualty insurance or reinsurance companies.

 

10.03       In
the event that a party fails to choose an Arbiter within thirty (30) days following a written request by either party to the other
to name an Arbiter, the party who has chosen its Arbiter may choose the unchosen Arbiter. Thereafter, the Arbiters shall choose
an Umpire before entering upon arbitration. If the Arbiters fail to agree upon the selection for the Umpire within thirty (30)
days following their appointment, each Arbiter shall name three nominees, of whom the other shall decline two, and the decision
shall be made by drawing lots.

 

10.04       Each
party shall present its case to the Arbiters and Umpire within a reasonable amount of time after selection of the Umpire, unless
the period is extended by the Arbiters and the Umpire in writing and/or at a hearing in Dallas, Texas. The Arbiters and Umpire
shall consider this Agreement as an honorable engagement, as well as a legal obligation, and they are relieved of all judicial
formalities and may abstain from following the strict rules of law regarding entering of evidence. The decision in writing by a
majority of the Arbiters and Umpire when filed with the Parties shall be final and binding on the parties. Judgment upon the final
decision of the Arbiters and Umpire may be entered in any court of competent jurisdiction.

 

10.05       In
the event of a dispute between the Company and the Reinsurer concerning this Agreement and the General Agency Agreement (regardless
of whether either party has claims against the General Agent), the entire dispute between the Company and the Reinsurer shall be
subject to arbitration as provided in this Article X.

 

10.06       The
costs of the arbitration, including the fees of the arbitrators and the umpire, shall be borne equally unless the Arbiters and
Umpire shall decide otherwise.

 

10.07       This
Agreement shall be interpreted under the laws of Texas and the arbitration shall be governed and conducted according to the Texas
General Arbitration Act.

 

ARTICLE XI

ASSESSMENTS, ASSIGNMENTS, FINES AND PENALTIES

 

11.01       The
Reinsurer hereby assumes liability for any and all assessments and assignments imposed as a result of Policies reinsured hereunder
(whether before or after the termination of this Agreement). The Reinsurer shall immediately reimburse the Company for any assessments
made against the Company pursuant to those laws and regulations creating obligatory funds (including, but not limited to, insurance
guaranty and insolvency funds), pools, joint underwriting associations, FAIR plans and similar plans. Amounts owed by the Reinsurer
under this Section shall be payable directly by the Reinsurer to the Company. The Reinsurer shall be entitled to receive from the
Company on or prior to June 30 of each year thereafter (or such date on which such premium taxes are paid) a sum equal to the premium
tax credit that is allowed to the Company with respect to such assessments. The premium tax credit allowed the Reinsurer hereunder
is to be on a pro-rata and first-in, first-out basis. The Company shall

    	 

    	 

    

promptly return to the Reinsurer any amount of assessment refunded
to or credited to the Company.

 

11.02       This
Agreement shall apply to risks assigned to the Company under any assigned risk plan if, in the reasonable judgment of the Company,
such risks were assigned to the Company because of the business written and reinsured hereunder. Should it be determined, in the
Company’s sole discretion, that the General Agent, or any agent with whom assigned risks are also allocated under a specific
assigned risk plan with the General Agent, is unwilling or unable to fulfill policyholder obligations under such assigned risk
plan, the Company may elect alternative means to fulfill the policyholder obligations under the assigned risk plan. Any cost or
expense arising out of or related to the administration of the assigned risks shall be paid by the Reinsurer under this Agreement.

 

11.03       The
Reinsurer shall also pay promptly and directly to the Company any fines, penalties and/or any other charge incurred by the Company
as respects the business reinsured hereunder arising out of the actions or inactions of the General Agent unless such fines, penalties
and/or any other charge was a direct result of any willful misconduct on the part of the Company, which has been finally determined
by a court of competent jurisdiction after the exhaustion of all appeals.

 

ARTICLE
XII

PREMIUM FINANCING

 

With respect to Policies
covered under the provisions of this Agreement, if any premiums are financed, the General Agent shall receive and accept on behalf
of the Company all notices required by statute, contract or otherwise to be given to the Company, including, without limitation,
notices of the existence of premium finance agreements or of cancellation of policies the premiums of which are financed ("financed
policies"). No producing agent or any other agent shall be entitled to receive or accept any notice on behalf of the Company,
and the General Agent shall be responsible for and will indemnify and hold the Company harmless from and against any and all liabilities,
losses, claims, damages and expenses incurred by reason of or arising out of any action taken or inaction suffered as a result
of receipt of any notice by any person, firm or entity other than the General Agent or the Company. Notwithstanding any other term
or provision of this Agreement, the General Agent agrees to return and pay over to any premium finance company (whether affiliated
with the Company or not) which has sent notice of cancellation of a financed policy to the General Agent, on behalf of the Company,
within thirty (30) days of receipt of such notice of cancellation, any and all unearned commissions as of the date of cancellation,
together with any and all unearned premiums due any premium finance company. The General Agent agrees to and does hereby relinquish
any and all rights to any unearned commissions for any such financed policy as of the date of cancellation. The obligation of the
General Agent to refund unearned commissions and unearned premiums on a canceled financed policy shall survive the termination
or cancellation of this Agreement for so long as any policy written under the terms of this Agreement remains in force. If the
General Agent does not fulfill its obligations to refund unearned commissions and unearned premiums as provided in this Article
XII and/or to indemnify the Company as provided in this Article XII, then the Reinsurer shall pay the amount of the refund owed
and/or shall indemnify the Company even if the premium finance company is an affiliate of the Company.

 

ARTICLE XIII

INSOLVENCY

 

    	 

    	 

    

13.01       In
the event of insolvency of the Company, this reinsurance shall be payable directly to the Company or to its liquidator, receiver,
conservator or statutory successor on the basis of the liability of the Company without diminution because of the insolvency of
the Company or because the liquidator, receiver, conservator or statutory successor of the Company has failed to pay all or a portion
of any claims.

 

13.02       It
is agreed, however, that the liquidator, receiver, conservator or statutory successor of the Company shall give written notice
to the Reinsurer of the pendency of a claim against the Company indicating the policy or bond reinsured which claim would involve
a possible liability on the part of the Reinsurer within thirty (30) days after such claim is filed in the insolvency, conservation
or liquidated proceeding or in the receivership, and that during the pendency of such claim, the Reinsurer may investigate such
claims and interpose, at its own expense, in the proceeding where such claim is to be adjudicated, any defense or defenses that
it may deem available to the Company or its liquidator, receiver, conservator or statutory successor. The expense thus incurred
by the Reinsurer shall be chargeable, subject to the approval of the Court, against the Company as part of the expense of conservation
or liquidation to the extent of a pro rata share of the benefit which may accrue to the Company solely as a result of the defense
undertaken by the Reinsurer.

 

13.03       Where
two or more reinsurers are involved in the same claim and a majority in interest elect to interpose defense to such claim, the
expense shall be apportioned in accordance with the terms of this Agreement as though such expense had been incurred by the Company.

 

13.04       It
is further understood and agreed that, in the event of the insolvency of the Company, the reinsurance under this Agreement shall
be payable directly by the Reinsurer to the Company or to its liquidator, receiver or statutory successor, except (i) as provided
by applicable law, (ii) where the Agreement specifically provides another payee of such reinsurance in the event of the insolvency
of the Company and (iii) where the Reinsurer with the consent of the direct insured or insureds has assumed such policy obligations
of the Company as direct obligations of the Reinsurer to the payees under such policies and in substitution for the obligation
of the Company to such payees.

 

ARTICLE XIV

ALTERNATE PAYEE

 

14.01       As
respects subject business assumed as reinsurance under this Agreement, it is agreed that if the Company has a conservator, liquidator
or receiver appointed for it, or becomes the subject of any conservation, liquidation or insolvency proceeding, and the General
Agent exercises its option to require the Company to permit all its liabilities under the Policies reinsured hereunder to be assumed
by another licensed insurer as is permitted pursuant to the General Agency Agreement, such assuming insurer shall be substituted
for the Company as payee of any reinsurance recoverable hereunder in respect of losses under Policies subject hereto, and the Reinsurer,
shall make payment thereof directly to the substituted insurer. In the event of assumption, the Company shall, however, be entitled
to any ceding fees and other sums owing hereunder with respect to Policies originally issued on its behalf.

 

14.02       In
the event that an assuming insurer is substituted for the Company under Section 14.01, all the other provisions of this Agreement
shall apply to the substituted insurer in the same manner as if said insurer were substituted for the Company as the reinsured
party hereunder, and to the extent this Agreement reinsures such substituted insurer, coverage hereunder shall be excluded as respects
the Company.

 

    	 

    	 

    

ARTICLE
XV

HOLD HARMLESS PROVISIONS

 

15.01       Notwithstanding
anything else contained herein to the contrary, as respects all matters related to this Agreement, in addition to those specific
provisions insulating the Company from specific risks hereunder, the Reinsurer hereby covenants and agrees to reimburse and hold
the Company harmless from and against every claim, demand, liability, loss, damage, cost, charge, attorneys' fees, expense, suit,
order, judgment and adjudication of whatever kind or character regarding (i) this Agreement and/or (ii) the business reinsured
hereunder (including, but not limited to, underwriting loss, credit loss, and/or run-off expense and/or all legal fees and expenses
incurred by the Company in asserting its rights under this Agreement) whether or not such claim, demand, loss, damage, cost, charge,
attorneys' fees, expense, suit, order, judgment or liability is within the terms of Policies written and reinsured hereunder. The
Reinsurer's obligation hereto relates to, but is not limited to the following: all liability for agents' balances; return premiums
and commissions; deceptive trade practice liability; premiums, policy fees or other charges (whether collected or not); costs,
liability, damages, fees and/or expenses incurred by the Company due to a lawsuit between the Reinsurer and/or the General Agent
(any dispute involving the Company and the Reinsurer is subject to arbitration); all actions or inactions by General Agent relating
to this Agreement, any agreement with a premium finance company or claims administrator; and/or all fees and/or commissions owing
to the General Agent under this and the aforementioned related agreements.

 

15.02       The
Company shall not be liable to the Reinsurer for premiums unless the Company itself has actually received those premiums and wrongfully
not remitted them to the Reinsurer. The Reinsurer may not offset any balances on account of losses, loss adjustment expenses or
any other amounts due except as to premiums actually received by the Company itself (as distinct from premiums not collected, or
premiums collected by the General Agent, or premium placed in the premium trust account pursuant to the General Agency Agreement)
which have wrongfully not been transmitted to the Reinsurer.

 

15.03       If
for any reason the General Agent fails or is unable to administer the policies reinsured hereunder (whether the Agreement is still
in effect or the business is being run-off), (i) the Reinsurer shall appoint a party (acceptable and approved by the Company) to
administer the business and the Reinsurer shall be responsible for 100% of the cost of said administration and (ii) the General
Agent will fully cooperate with the Company (or its designated representative) in providing access to such of the General Agent’s
personnel, computer systems or other assets or procedures as the Company may deem necessary to provide for an orderly transition
of the administration of the Policies reinsured hereunder. If return premiums or other funds need to be returned to premium finance
companies, policyholders or sub-agents, the Reinsurer shall pay these amounts if the successor or administrator does not.

 

15.04       The
Reinsurer shall not sue, or seek arbitration, against the Company for any acts of the General Agent for any monies which the General
Agent owes unless the Company has actually received those monies and has wrongfully not remitted them to the Reinsurer; and the
Reinsurer shall indemnify the Company for any damages, liabilities and expenses incurred by reason of the General Agent's acts
or failure to act. The Company is not responsible for any commissions or other monies payable to the General Agent in connection
with this Agreement and the General Agent shall not sue, or seek arbitration against, the Company for any actions by, or debts
owing from, the Reinsurer. The Reinsurer shall not seek to recover from, or offset against, the Company any sums, whether premiums
or other monies, which the General Agent

    	 

    	 

    

was unable or unwilling to remit to the Company or the Reinsurer.

 

15.05       In
the event the Reinsurer, or any agent appointed pursuant to this Agreement, binds the Company for insurance coverage on insurance
risks which are in excess of the policy limits set forth in Article I, and/or are not within the terms of business specified in
Article I, and/or are not within the territory specified in Article I, and/or are excluded under Article III, whether intentional
or not, the Reinsurer and General Agent will do such things and take such actions as may be necessary to reduce the Company's exposure
to such risks and to hold the Company harmless against any liability or loss which may be incurred by the Company in excess hereof.
At the Company's request, the General Agent in accordance with applicable law, and policy terms, shall cancel or not renew any
risk bound which is not in conformance with this Agreement. Any such insurance coverage on insurance risks bound contrary to the
limitations which are in excess of the policy limits set forth in Article I, and/or are not within the classes of business specified
in Article I, and/or are not within the territory specified in Article I, and/or are excluded under Article III, whether intentional
or not, shall be 100% reinsured and subject to this Agreement.

 

15.06       In
furtherance of the protections afforded to the Company under this Agreement, the Reinsurer expressly acknowledges that certain
circumstances may come to exist with respect to the Policies reinsured hereunder that require adjustment to the timing of Reinsurer
remittances. If, in the sole discretion of the Company, an advance payment or payments of the Reinsurer’s obligations under
this Agreement is necessary to avoid irreparable harm to the Company (as, for example, in the circumstance where the funds available
in the premium trust account established pursuant to Section 2.01 of the General Agency Agreement are insufficient to provide for
timely payment of claims), the Reinsurer shall make such payment or payments promptly upon the Reinsurer’s receipt of the
Company’s good faith estimate or calculation of the necessity thereof.

 

15.07       When
a claim is asserted or action commenced, including class actions regardless of whether the class has been certified, relating in
any way to the Policies produced under this Agreement, the General Agent shall assume the defense and associated costs and expenses
thereof. The Company may elect, however, at its sole discretion, on a case-by-case basis, to engage counsel directly on its own
behalf, and the expenses and costs related to such defense shall be passed on to and paid by the General Agent within 60 days written
notice from the Company. In such cases where the claim or action relates to business written by more than one agent of the Company,
costs and expenses shall be proportioned among applicable agents at the Company’s sole discretion. Should the General Agent
fail to remit any amounts due to Company under this Section 15.07, then the Reinsurer shall pay such amounts within 60 days written
notice from the Company.

 

ARTICLE XVI

LOSS IN EXCESS OF POLICY LIMITS/EXTRA CONTRACTUAL
OBLIGATIONS

 

16.01       In
the event the Company pays or is held liable to pay an amount of loss in excess of its policy limit, but otherwise within the terms
of its policy (hereinafter called "loss in excess of policy limits") or any punitive, exemplary, compensatory or consequential
damages (hereinafter called "extra contractual obligations") because of alleged or actual bad faith or negligence on
its part in rejecting a settlement within policy limits, or in discharging its duty to defend or prepare the defense in the trial
of an action against its policyholder, or in discharging its duty to prepare or prosecute an appeal consequent upon such an action,
or in otherwise handling a claim under a policy subject to this Agreement, 100% of the loss in excess of policy limits and/or 100%
of

    	 

    	 

    

the extra contractual obligations shall be added to the Company's
loss, if any, under the Policy involved, and the sum thereof shall be reinsured 100% under this Agreement.

 

16.02       An
extra contractual obligation shall be deemed to have occurred on the same date as the loss covered or alleged to be covered under
the Policy.

 

16.03       Notwithstanding
anything stated herein, this Agreement shall not apply to any loss incurred by the Company as a result of any fraudulent and/or
criminal act which has been finally determined by a court of competent jurisdiction, after the exhaustion of all appeals, by any
officer or director of the Company acting individually or collectively or in collusion with any individual, corporation or any
other organization or party involved in the presentation, defense or settlement of any claim covered hereunder.

 

ARTICLE XVII

REGULATORY MATTERS

 

17.01       It
is the Parties' understanding that any premiums which are overdue from the General Agent to the Company may be deemed non-admitted
assets. In confirmation of the liabilities assumed by the Reinsurer under this Agreement, the Reinsurer hereby assumes 100% of
all liability and responsibility for all premiums in the course of collection.

 

17.02       The
Reinsurer shall agree, at no cost to the Company, to take those actions (including, but not limited to, modifications in how funds
are handled and how accounts are cleared, settled and the manner in which incurred losses are accounted for) and agree to those
arrangements necessary to ensure that the Company suffers no adverse impact because of this reinsurance program and is in compliance
with any applicable laws of a state insurance department, insofar as this reinsurance program is concerned.

 

ARTICLE XVIII

THE GENERAL AGENT

 

18.01       The
Company, the Reinsurer and the General Agent have entered into a General Agency Agreement effective April 1, 2020 (the "General
Agency Agreement"), which is incorporated herein by this reference. The Reinsurer has selected the General Agent to administer
the business reinsured hereunder. While for regulatory purposes, the General Agent may need to be appointed as the Company's agent,
it is recognized that the General Agent is acting on behalf of the Reinsurer. The Company is making no evaluation of the General
Agent's qualification, has no obligation to furnish reports or statistics to the Reinsurer, or to monitor the performance of the
General Agent. The Company shall file with the State all reports requested by the State based upon information received from the
General Agent and Reinsurer.

 

18.02       The
Company will, at the request of the General Agent and the Reinsurer, appoint producing agents to produce business through the General
Agent. The Company, in its sole discretion, may refuse to appoint any such agent; provided, however, that such appointment shall
not be unreasonably withheld. The General Agent will not establish any sub-general agencies or any agencies with the authority
of a general agency. The Reinsurer shall hold the Company harmless from and indemnify it for any damage, liability, claim, expense,
cost or fees (including attorneys' fees and expenses) of whatever kind or character caused directly or indirectly by any action
of or failure to act, by any such producing agent.

 

18.03       The
General Agent shall be responsible for the control of the producing agents

    	 

    	 

    

appointed by the Company at the request of and on behalf of the Reinsurer,
including compliance with state licensing laws and the financial condition of such agents.

 

18.04       The
Reinsurer shall guarantee payment to the Company of any amounts due the Company from business produced by and/or policies issued
by or through the producing agents appointed by the Company at the request of and on behalf of the General Agent and the Reinsurer.
The Reinsurer and the General Agent shall be solely responsible for notifying such agents of this Agreement and of any termination
hereof, and the Reinsurer shall be responsible for the consequences of any failure to provide such notification.

 

18.05       The
General Agent shall not sue, or seek arbitration, against the Company for any acts of the Reinsurer and shall indemnify and hold
the Company harmless from and against any damages, liabilities and expenses incurred by reason of the Reinsurer's acts or failures
to act.

 

18.06       The
Company shall conduct or have conducted the examinations of the General Agent as provided in Section 5.13 of the General Agency
Agreement. The examinations provided for herein shall be at no cost to the Company, and the Reinsurer shall indemnify and hold
the Company completely harmless as respects any liability, damage, charge, cost, fine, or penalty, the Company may incur as a result
of such examinations.

 

ARTICLE XIX

REINSURER OR GENERAL AGENT SALE OR TRANSFER

 

The Reinsurer or the General
Agent agree to give the Company, 90 days advance written notice of any sale or transfer of such party's business, or such party's
consolidation with a successor firm, in order that the Company may, in its sole discretion:

 

		(a)	Assign this Agreement to the successor; or

 

		(b)	Enter into a new reinsurance agreement with the successor; or

 

		(c)	Terminate this Agreement as provided in Section 4.02(g) of this Agreement.

 

ARTICLE XX

MISCELLANEOUS

 

20.01       This
Agreement has been made and entered into in the State of Texas and the Agreement shall be subject to and construed under the laws
of the State of Texas. This Agreement shall be deemed performable at the Company's administrative office in Bedford, Texas, and
it is agreed that the venue of any controversy arising out of this Agreement, or any breach thereof, shall be in Tarrant County,
Texas.

 

20.02       All
notices required to be given hereunder shall be deemed to have been duly given by personally delivering such notice in writing
or by mailing it, Certified Mail, return receipt requested, with postage prepaid. Any Party may change the address to which notices
and other communications hereunder are to be sent to such Party by giving the other Party prior written notice thereof in accordance
with this provision.

 

20.03       This
Agreement shall be binding upon the Parties hereto, together with their respective successors. None of the Parties hereto may assign
any of their rights or obligations under this Agreement.

 

    	 

    	 

    

20.04       This
Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument.

 

20.05       This
Agreement is the entire agreement between the parties and supersedes any and all previous agreements, written or oral, and amendments
thereto with respect to the subject matter hereof.

 

20.06       This
Agreement may only be modified or changed by a written amendment to this Agreement executed by all Parties hereto.

 

20.07       A
waiver by the Company, Reinsurer or General Agent of any breach or default by the other party under this Agreement shall not constitute
a continuing waiver or a waiver by the Company or the Reinsurer of any subsequent act in breach or of default hereunder.

 

20.08       Headings
used in this Agreement are for reference purposes only and shall not be deemed a part of this Agreement.

 

20.09       The
Parties hereto intend all provisions of this Agreement to be enforced to the fullest extent permitted. Accordingly, should a court
of competent jurisdiction or arbitration panel determine that the scope of any provision is too broad to be enforced as written,
the Parties intend that the court or arbitration panel should reform the provision to such narrower scope as it determines to be
enforceable under present or future law; such provision shall be fully severable; this Agreement shall be construed and enforced
as if such illegal, invalid, or unenforceable provision were never a part hereof; and the remaining provisions of this Agreement
shall remain in full force and effect and shall not be affected by the illegal, invalid, or unenforceable provision or by its severance.

 

20.10       This
Agreement is not exclusive and the Company reserves the right to appoint or contract with other reinsurers, agents and/or managing
agents in the territory covered by this Agreement.

 

20.11       The
Reinsurer or General Agent shall not insert any advertisement respecting the Company or the business to be written under this Agreement
in any publication or issue any circular or paper referring to the Company or such business without first obtaining the written
consent of the Company. The Reinsurer and/or General Agent shall establish and maintain records of any such advertising as required
by applicable statutes and regulations.

 

20.12       Policy
cancellations at the Company's request will be made strictly subject to requirements imposed by the Company's underwriting rules
and practices or the Reinsurer's underwriting rules and practices, as approved by the Company, and in compliance with applicable
statutes and regulations and the applicable provisions contained in this Agreement and the pertinent policy. Such cancellation
authority shall be exercised only for causes inherent in the particular risk and shall not be construed as authority to make general
or indiscriminate cancellations or replacement of the Policies with those of another Company, except upon specific written instructions
from the Company. When directed by the Company, the Reinsurer will cancel any and all Policies produced by it for any reason the
Company deems necessary.

 

20.13       This
Agreement shall be interpreted in conformance with applicable Texas law and regulation. If it is found or ordered by a court or
regulatory body that a term or provision of this Agreement does not conform to such law or regulation then this Agreement shall
be deemed to

    	 

    	 

    

be amended and modified in accordance with such law. However, where
this Agreement is found not to comply with applicable law or regulation, the Company may in its sole discretion terminate this
Agreement immediately and without prior notice.

 

20.14       The
Company agrees that the Reinsurer shall have the right, with the approval of the Company, to determine the rates and prepare the
rate filing for the Company to file during the term of this Agreement and during the term of the run-off. The Reinsurer and General
Agent understand and agree that no business shall be produced, until a written approval of the applicable rate rules and forms
is received from the regulatory authority of competent jurisdiction, if applicable or required by statute.

 

20.15       It
is agreed that in the event the Reinsurer fails to pay any amount claimed to be due hereunder, the Reinsurer, at the request of
the Company, will submit to the jurisdiction of any court of competent jurisdiction within the United States. Nothing in this Article
constitutes or should be understood to constitute a waiver of the Reinsurer's rights to commence an action in any court of competent
jurisdiction in the United States, to remove an action to a United States District Court, or to seek a transfer of a case to another
court as permitted by the laws of the United States or of any state in the United States. Further, pursuant to any statute of any
state, territory or district of the United States which makes provision therefor, the Reinsurer hereby designates the Superintendent,
Commissioner or Director of Insurance or other officer specified for that purpose in the statute, or his successor or successors
in office, as its true and lawful attorney upon whom may be served any lawful process in any action, suit or proceeding instituted
by or on behalf of the Company or any beneficiary hereunder arising out of this Agreement.

 

ARTICLE XXI

LOSS AND UNEARNED PREMIUM RESERVE FUNDING

 

21.01       Within
10 business days of the effective date of this Agreement, the Reinsurer will secure [***]% of its obligations under this Agreement
(“Obligations Under the Reinsurance Agreement”), which include but are not limited to [***]% of the obligations for
unearned premiums reserves, if any, and reserves for losses incurred but not reported and losses reported but unpaid, via a security
fund or trust agreement or letter of credit to be obtained by the Reinsurer in favor of the Company, which shall be in all respects
acceptable to the Company and allow the Company to receive credit for the reinsurance hereunder from the Department of Insurance
or applicable regulator of the state of domicile of the Company.

 

		(a)	At a minimum, the security fund or trust or letter of credit must:

 

		(i)	comply with the applicable laws and regulations; and

		(ii)	be issued by or held with a Qualified United States Financial Institution
acceptable to the Company (as defined by the applicable statute and regulation).

 

		(b)	The Company may draw the full amount of the security fund or trust
or letter of credit to satisfy, in whole or in part the obligations of the Reinsurer hereunder or, if:

 

		(i)	The Reinsurer fails to comply with the provisions of this Agreement;
or

		(ii)	the issuer of the security fund or trust or letter of credit gives
the Company notice of cancellation or non-renewal of the security fund or 

    	 

    	 

    

letter of credit.

 

21.02       
Within 10 business days of the effective date of this Agreement, and within 10 business days prior to the end of each calendar
quarter thereafter, the Company shall provide the Reinsurer with a good faith estimate of the expected sum of [***]% of the Company’s
ceded Unearned Premium and Loss Reserves as of the end of the forthcoming calendar quarter (the “Estimate”). The Reinsurer
shall, within 2 business days of first receiving the Estimate, and within 2 business days prior to the commencement of such forthcoming
calendar quarter thereafter, fund/obtain a security fund or letter of credit in an amount equivalent to [***]% of the Estimate.
Additionally, each time thereafter that: (i) the Reinsurer’s A.M. Best rating or outlook is at any time reduced; or (ii)
the Reinsurer’s A.M. Best rating or outlook is at any time removed or withdrawn such that the Reinsurer is not rated or unrated
by A.M. Best; or (iii) the Reinsurer’s capital and policyholder surplus (or its equivalent) reduces [***] percent ([***]%)
or more during any rolling twelve (12) month period measured quarterly; or (iv) the Reinsurer fails to maintain its CAT XOL reinsurance
with coverage up to [***] dollars ($[***]) with a [***]
($[***]) retention and its multiline XOL reinsurance with coverage
up to [***] dollars ($[***]) with a [***] dollar
($[***]) retention, each provided by the Reinsurer’s reinsurers existing as of the effective
date of this Agreement, provided that the Reinsurer may add reinsurers with a minimum surplus of at least [***] dollars
($[***]) and an “A” rating by A.M. Best, the components of the Estimate shall
increase by [***]% (i.e. the first time the Estimate shall increase to [***]% of the Company’s ceded outstanding Unearned
Premium and Loss Reserves as of the end of the forthcoming calendar quarter, the second time the Estimate shall increase to [***]%
of the Company’s ceded outstanding Unearned Premium and Loss Reserves as of the end of the forthcoming calendar quarter,
etc.). 

 

21.03       If
at any time, based upon the monthly reporting provided to Company under this Agreement, it shall be determined by the Company or
Reinsurer that the amount of the security fund or letter of credit may not be equivalent to the greater of: (i) [***]% of Company’s
ceded Unearned Premium and Loss Reserves; (ii) [***]% of Company’s ceded Unearned Premium and Loss Reserves as of the end
of the current calendar quarter (the “Revised Estimate”); or (iii) the amounts required under Section 21.02 of this
Agreement, then upon written notice from Company, the Reinsurer shall immediately increase the amount of the security fund or letter
of credit to an amount equivalent to the greater of (i), (ii) or (iii) and the Company shall at all times be in possession of a
security fund or letter of credit equivalent to the greater of (i), (ii) or (iii) as of the end of the current calendar quarter.

 

21.04       Should
the amount of the security fund or letter of credit at the end of any calendar quarter be greater than the amount required in this
Article XXI, the Reinsurer shall be entitled to reduce the amount of the security fund or letter of credit to an amount not less
than the amount required in this Article XXI. The Qualified United States Financial Institution shall permit such reduction upon
receipt by it of the Company’s written statement that Reinsurer is entitled to such reduction, which written statement shall
not be unreasonably withheld by Company.

 

21.05       For
the purpose of this Article XXI, Unearned Premiums means, as of any given date, the aggregate premium attributable to the unexpired
coverage period of all insurance policies produced under the Agreement, as determined in accordance with generally accepted statutory
accounting principles consistently applied. For this purpose, premium shall be the written premium charged on the insurance policy
for the period such policy is in force irrespective of the subsequent billing and collection of such premium.

 

    	 

    	 

    

21.06       For
the purpose of this Article XXI, Loss Reserves means, as of any given date, the reserve attributable to losses incurred but not
reported and losses reported but not paid with respect to the insurance policies produced under this Agreement, and shall include
provision for both allocated and unallocated loss adjustment expense, in each instance as determined in accordance with generally
accepted accounting principles consistently applied.

 

21.07       The
Reinsurer hereby agrees that the actuarial opinion of the Company’s internal actuary shall be controlling, in its sole discretion,
as to the timing and determination of the adequacy of loss reserves established for losses incurred and outstanding on business
produced under this Agreement and the General Agency Agreement for the purposes of posting collateral hereunder. However, the Reinsurer
shall have the right to have the Company engage on a semi-annual basis, at the expense of the Reinsurer an independent actuarial
opinion, performed by MILLIMAN USA’s Dallas office, attesting to the adequacy of loss reserves established for losses incurred
and outstanding on business produced under this Agreement and the General Agency Agreement. If the Reinsurer requests hereunder
the actuarial opinion of MILLIMAN USA’s Dallas office, the Reinsurer hereby agrees to post the collateral required hereunder
in accordance with the actuarial analysis of the Company’s internal actuary until an analysis is completed by MILLIMAN USA’s
Dallas office.  At such time, the Reinsurer shall post the collateral required hereunder in accordance with the actuarial
analysis of MILLIMAN USA’s Dallas office. If MILLIMAN USA’s Dallas office is unable to perform the actuarial analysis,
the analysis of the Company’s internal actuary shall be controlling for the purpose of determining the ultimate loss ratio
and loss adjustment expense ratio picks required for posting collateral under the Agreements.  If subsequent to the receipt
of the applicable independent actuarial opinion, the Company determines in its sole discretion that there has been a significant
change in the loss reserves as compared to the applicable independent actuarial opinion, the Company’s internal actuary shall
again be controlling, in its sole discretion, as to the timing and determination of the adequacy of loss reserves established for
losses incurred and outstanding on business produced under this Agreement and the General Agency Agreement until the Company again
engages, at the expense of the Reinsurer, an independent actuarial opinion, performed by MILLIMAN USA’s Dallas office, attesting
to the adequacy of loss reserves established for losses incurred and outstanding on business produced under this Agreement and
the General Agency Agreement. Additionally, if the actuarial opinion of the Company’s internal actuary is not available,
for any reason, the Company shall engage semi-annually, at the expense of the Reinsurer, an independent actuarial opinion, performed
by MILLIMAN USA’s Dallas office, attesting to the adequacy of loss reserves established for losses incurred and outstanding
on business produced under this Agreement and the General Agency Agreement.

 

ARTICLE XXII

SAVINGS CLAUSE

 

22.01       If
any law or regulation of any Federal, State or local government of the United States of America, or the ruling of officials having
supervision over insurance companies, should prohibit or render illegal this Agreement, or any portion thereof, as to risks or
properties located in the jurisdiction of such authority, either the Company or the Reinsurer may upon written notice to the other
suspend or abrogate this Agreement insofar as it relates to risks or properties located within such jurisdiction to such extent
as may be necessary to comply with such law, regulations or ruling. Such illegality shall in no way affect any other portion thereof;
provided, however, that the Reinsurer or the Company may terminate or suspend this Agreement insofar as it relates to the business
to which such law or regulation may apply.

 

22.02       This
Agreement shall be interpreted in accordance with the laws of the State of Texas.

    	 

    	 

    

All provisions of this Agreement are intended to be enforced to the
fullest extent permitted. Accordingly, should a court of competent jurisdiction or arbitration panel determine that the scope of
any provision is too broad to be enforced as written, the Parties intend that the court or arbitration panel should reform the
provision to such narrower scope as it determines to be enforceable under present or future law; such provision shall be fully
severable; this Agreement shall be construed and enforced as if such illegal, invalid, or unenforceable provision were never a
part hereof; and the remaining provisions of this Agreement shall remain in full force and effect and shall not be affected by
the illegal, invalid, or unenforceable provision or by its severance; provided, however, that where this Agreement is so found
not to comply with applicable law or regulation, the Company may in it sole discretion terminate this Agreement immediately without
prior notice.

 

[THE REMAINDER OF THE PAGE IS LEFT INTENTIONALLY
BLANK.

SIGNATURES APPEAR ON THE FOLLOWING PAGE.]

    	 

    	 

    

 

IN WITNESS WHEREOF, the Parties hereto by their
respective duly authorized representatives have executed this Agreement as of the date first above written.

 

UNITED SPECIALTY INSURANCE COMPANY

 

 

BY: /s/ David Cleff

 

ITS: EVP

 

DATE:4-3-2020

 

 

CRUSADER INSURANCE COMPANY

 

 

BY: /s/ Cary L. Cheldin

 

ITS: President

 

DATE:4-1-20

 

 

UNIFAX INSURANCE SYSTEMS, INC.

 

 

BY: /s/ Cary L. Cheldin

 

ITS: President

 

DATE:4-1-20EXHIBIT 10.2

 

CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED
FROM THE EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED.

[***] INDICATES THAT INFORMATION HAS BEEN
REDACTED.

 

GENERAL AGENCY AGREEMENT

 

 

THIS GENERAL AGENCY AGREEMENT
(this "Agreement") is effective April 1, 2020, by and among UNITED SPECIALTY INSURANCE COMPANY ("Company"),
CRUSADER INSURANCE COMPANY ("Reinsurer"), and UNIFAX INSURANCE SYSTEMS, INC. ("General Agent");

 

W I T N E S S E T H:

 

In consideration of the
mutual covenants contained in this Agreement, and upon the terms and conditions set forth below, the parties hereto agree as follows:

 

PREAMBLE

 

The Company, the Reinsurer
and the General Agent have entered into a Quota Share Reinsurance Agreement dated as of April 1, 2020 (the "Reinsurance Agreement"),
which is incorporated herein by this reference, which Reinsurance Agreement requires the appointment of the General Agent to perform
certain specified acts on behalf of the Company and Reinsurer. The General Agent desires to perform the functions and duties necessary
under the Reinsurance Agreement. It is therefore mutually agreed by the parties that the General Agent will perform all functions
necessary for the production, service and management of policies issued under the Reinsurance Agreement in accordance with the
terms and conditions set forth therein and herein. To the extent that there is any conflict between the terms of this Agreement
and the Reinsurance Agreement, the Reinsurance Agreement shall govern. Notwithstanding any provisions to the contrary contained
elsewhere herein or in any other document, it is expressly understood that the execution and delivery of this Agreement and the
Company's performance hereunder shall not under any circumstances be interpreted to affect, weaken or modify the Reinsurer's obligation
to indemnify and hold the Company harmless from and against the business, credit and insurance risks as set forth in the Reinsurance
Agreement. The contractual assumption by the Reinsurer of these risks in the Reinsurance Agreement is a condition precedent to
the Company's entering into this Agreement with the General Agent.

 

ARTICLE I

APPOINTMENT AND DUTIES

 

1.01       The
Company, at the direction of the Reinsurer, hereby appoints the General Agent as its general agent for the purpose of producing
and handling the business which is the subject of the Reinsurance Agreement issued or renewed on or after the effective date of
this Agreement. The Company, at the request of the Reinsurer, hereby grants authority to the General Agent to solicit, accept and
receive applications for such classes of coverage as are specified in the Reinsurance Agreement; to secure, at its own expense,
reasonable underwriting information through reporting agencies or other appropriate sources relating to each risk insured; to issue,
renew and countersign policies, certificates, endorsements and binders which the Company may, from time to time, authorize to be
issued, delivered, renewed and countersigned; and to collect and receipt for the premiums thereon and therefor.

 

1.02       All
activities of the General Agent pursuant to this Agreement shall be in strict compliance with the terms of the Reinsurance Agreement
and all rules, regulations and instructions of the Company, including, but not limited to, all rules, instructions and specifications
included in the Company's rate manuals, rate brochures and rate schedules.

 

1.03       The
Company, at the Reinsurer's request, further authorizes the General Agent to perform all acts and duties under policies of insurance
issued by the Company as would otherwise be performed by the Company, including, but not limited to, properly sending and/or receiving
reports and notices and remitting and/or receiving monies due from or to the Company, and adjusting and paying losses or other
claims. The Company grants to the General Agent the authority to settle claims on behalf of the Company. However, the maximum dollar
amount of such authority per claim shall not exceed the greater of [***]% of the Company’s policyholder surplus as of December
31 of the last completed calendar year or $[***]. For claims settlement in excess of the greater of [***]% of the Company’s
policyholder surplus as of December 31 of the last completed calendar year or $[***], the General Agent may only settle such claims
with prior approval of the Company and the Reinsurer. The Company retains final authority to determine any disputes relating to
claims settlement and setting of loss reserves. In performing each of the acts mentioned above, the General Agent shall be under
the direct supervision and control of the Reinsurer, and the Reinsurer shall be solely responsible for the acts of the General
Agent. While there are acts of the General Agent which may be required by applicable law to be performed on behalf of the Company,
the Reinsurer shall remain ultimately responsible for such acts and will indemnify and hold the Company completely harmless for
any damage, cost, liability, expense and/or loss (including attorneys' fees and expenses) incurred by the Company as respects such
acts of the General Agent. The General Agent must send to the Company a report, as soon as it becomes known, that a claim (i) involves
a coverage dispute; (ii) involves a demand in excess of policy limits; (iii) alleges bad faith; (iv) is open for more than six
months; or (v) alleges a violation of any applicable unfair practices and unfair competition statutes. The Company may suspend
or terminate the settlement authority of the General Agent during the pendency of any dispute regarding any event of default by
the General Agent.

 

1.04       The
General Agent is authorized to have claims adjusted through independent claims adjusters, subject to the supervision of the Reinsurer.
The selection of independent claims adjusters shall be subject to prior written approval of the Reinsurer and Company; provided,
that each independent adjuster assigned to assess an individual claim shall not require such prior written approval. Such independent
claims adjusters are not the agents of the Company and the Company shall be held harmless and indemnified by the Reinsurer for
any liability, claim, demand, expense and/or cost of whatever kind or character as a result of, related to or connected with any
action or inaction of such claims adjusters.

 

1.05       The
Company shall not be responsible for the General Agent's expenses and costs, including, but not limited to, salaries, bonuses,
rentals, transportation facilities, clerk hire, solicitors' fees, postage, advertising, exchange, personal license fees, adjustment
by the General Agent of losses under policies issued by the General Agent, or any other agency expenses whatsoever. The General
Agent's sole compensation shall be the amounts payable to the General Agent in Article VIII of the Reinsurance Agreement and in
Article III of this Agreement.

 

1.06       The
General Agent understands and agrees that it has no power or authority granted to it by the Company independent of the Reinsurance
Agreement, and that this Agreement and the General Agent's authority hereunder shall cease immediately upon termination, for any
reason, of this Agreement or of the Reinsurance Agreement (excepting only the General Agent's responsibilities with regard to run-off
and other matters as set forth herein or in the Reinsurance Agreement).

 

1.07       The
General Agent shall not have the power to accept or bind risk other than as set forth herein, as set forth in the Reinsurance Agreement
or as may be subsequently authorized by the Company and Reinsurer in writing. The General Agent may not bind or cede reinsurance
or retrocession on behalf of the Company, may not commit the Company to participation in insurance or reinsurance syndicates, and
may not commit the Company to a claim settlement with a reinsurer other than the Reinsurer without the prior written approval of
the Company. If such prior written approval is given, the General Agent shall forward promptly a report to the Company concerning
such transaction and/or payment. The Company hereby authorizes the General Agent to collect payments for losses and loss adjustment
expenses from a reinsurer. The General Agent shall send a report to the Company concerning such transactions promptly.

 

1.08       The
General Agent acknowledges that, with respect to any state in which business is permitted to be written under the Reinsurance Agreement,
this Agreement shall not become effective until the General Agent is first duly appointed by the Company with the applicable Department
of Insurance. The General Agent agrees that any producing agent receiving commission pursuant to this Agreement shall first be
duly registered by the Company, if applicable, and said appointment on file with any applicable state insurance department. The
General Agent further agrees to be responsible for the payment of any penalty assessed to the Company for any violation by the
General Agent or any producing agent or broker registered by the General Agent pursuant to the provisions of Article IV hereof
of any license or appointment provision of the Texas Insurance Code or other applicable state statutes, and the rules and regulations
promulgated thereunder. If the General Agent fails to pay such penalty, the Reinsurer shall pay it immediately upon written notification
by the Company of the General Agent's failure to pay such penalty.

 

1.09       It
is understood that the Reinsurer has acknowledged that the Company shall not be required to monitor the General Agent's compliance
with the terms of either the Reinsurance Agreement or this Agreement and the Reinsurer shall be responsible for monitoring the
General Agent's compliance with the Reinsurance Agreement and this Agreement.

 

1.10       The
authority and limitations of the General Agent to issue policies are as follows:

 

(a) the maximum annual premium volume
the General Agent may produce under this Agreement is $[***];

 

(b) the basis of the rates charged
are as provided in the Company's rate manuals, rate brochures and rate schedules which the General Agent shall follow, and the
General Agent shall not decrease rates or increase discounts without the prior approval of the Company and Reinsurer;

 

(c) the only classes of business the
General Agent is authorized to produce and handle under this Agreement are the classes of business specified in the Reinsurance
Agreement;

 

(d) the maximum limits of liability
for policies to be produced pursuant to this Agreement are set forth in the Reinsurance Agreement;

 

(e) the General Agent may issue policies
under this Agreement only to insured residents in the states in which business is permitted to be produced under the Reinsurance
Agreement; but this limitation shall not apply to losses if said policies provide coverage outside the aforesaid territorial limit;

 

(f) the General Agent shall only cancel
policies as set forth in the policy form for the policies produced hereunder or as otherwise permitted by applicable law;

 

(g) the maximum term for any policy
issued hereunder shall be twelve (12) months;

 

(h) the General Agent shall employ
all reasonable and appropriate measures to control and keep a record of the issuance of the Company's insurance policies hereunder,
including, but not limited to, keeping records of policy numbers issued and maintaining policy inventories;

 

(i) the excluded
risks are those set forth in the Reinsurance Agreement.

 

In underwriting policies, the General Agent
shall follow the underwriting guidelines developed by the General Agent, the Reinsurer and the Company, and these guidelines are
herein incorporated by reference.

 

ARTICLE II

PREMIUMS

 

2.01       It
is expressly agreed and understood that all premiums collected by the General Agent are collected on behalf of the Company; that
such premiums are the property of the Company and the Reinsurer as their respective interests may appear pursuant to the Reinsurance
Agreement, less such commissions and fees as are due the General Agent as specified herein and in the Reinsurance Agreement. All
premiums collected by the General Agent on the business produced under the Reinsurance Agreement shall be deposited in a premium
trust account. Despite the General Agent’s ownership of the account, funds deposited therein on behalf of the Company are
understood to be owned by the Company. The only disbursements from such account shall be the payment of claims, claims expenses,
return premiums, commission due the General Agent as authorized herein and in the Reinsurance Agreement, and remittance of premiums
to the Reinsurer and Company. In the event that, in the General Agent’s reasonable opinion, the funds in the premium trust
account are not sufficient to make claim payments, the Reinsurer shall wire transfer, within five (5) working days of receipt of
a written request from the General Agent, or as soon as reasonably practicable, but always within any applicable State requirements,
into the premium trust account the funds necessary to make all then outstanding claims payments. The General Agent shall not make
personal use of any funds in this account. The commissions payable to the General Agent are debts due to the General Agent by the
Reinsurer and the privilege herein granted of deducting commissions from said premiums should not be taken as a waiver by the Company
of its exclusive ownership rights of premiums as provided herein. Should any dispute arise between the Company, the Reinsurer and/or
the General Agent regarding payment of premium, the General Agent shall remit immediately all money and property, without deductions
for commissions, to the premium trust account with full reservation of any and all rights reserved by the parties.

 

2.02       The
General Agent shall furnish to the Company and the Reinsurer all necessary premium and loss data (in a form acceptable to the Reinsurer
and the Company) no later than thirty (30) days following the end of the month during which the business is written or losses are
incurred to enable the Company to record statistics required by statutes, regulation or upon call by authorities having competent
jurisdiction. Such data shall include, but is not limited to, premiums written and unearned premium. Said data shall be segregated
by lines of insurance and location of risk.

 

2.03       The
keeping of an account with the General Agent on the Company's books as a creditor and debtor account is declared a record memorandum
of business transacted and neither such keeping of an account, nor alteration in commission rate, nor failure to enforce prompt
remittance or compromise or settlement or declaration of balance of account, shall be held to waive assertion of the trust relation
as to premiums collected by the General Agent.

 

2.04       The
General Agent shall be liable for the payment of all premiums upon all policies of insurance written through the General Agent
or any sub-agents of the General Agent.

 

2.05       The
General Agent shall remit to the Reinsurer, or Company as applicable, any funds of or due to the Company under this Agreement within
thirty (30) days from the end of the month in which premium is recorded.

 

2.06       The
General Agent shall hold all funds of or due the Company in a fiduciary capacity.

 

ARTICLE III

COMPENSATION TO THE GENERAL AGENT

 

3.01       The
Reinsurer shall allow the General Agent in full compensation for all services rendered and in full reimbursement for all expenditures
made by the General Agent the fee specified in Article VIII of the Reinsurance Agreement. The General Agent shall pay the Company
directly its ceding fee as specified in the Reinsurance Agreement (Article VIII), and the amounts for assignments, assessments,
premium taxes, fines and penalties as specified in the Reinsurance Agreement (Articles XI and XII).

 

3.02       The
Company shall not be liable for or responsible for any commissions or other monies payable by the Reinsurer to the General Agent.
The General Agent shall not sue or seek arbitration against the Company for any actions by, or debts owing from, the Reinsurer.

 

3.03       In
the event the Company or the Reinsurer, during the continuance of this Agreement or after its termination, refunds premiums under
any policy of insurance by reasons of cancellation or otherwise, the General Agent agrees immediately to return to the Company
or the Reinsurer, as applicable, the commission previously received by it on the portion of the premium refunded. The General Agent
shall not be required to return, as commission or return commission, monies greater than the total commission paid or otherwise
payable to the General Agent.

 

ARTICLE IV

SUB-AGENTS

 

4.01       The
General Agent shall comply with, and shall be responsible to ensure the compliance by, all such producing agents with the terms
of this Agreement and the Reinsurance Agreement and all other written rules and regulations of the Company, and treat as confidential
and use only in the interest of the Company all instructions, information and materials received from the Company.

 

4.02       The
General Agent shall be solely responsible for the performances of any producing agents under all of the terms and provisions hereof,
including, but not limited to, the collections of premiums and refunds of premiums.

 

4.03       Each
such producing agent must be registered or appointed, as required by the appropriate regulatory body, as an agent of the Company
through the appropriate regulatory body before any application shall be accepted from him or other insurance performances on behalf
of the Company are performed. The General Agent shall be ultimately responsible for the obligation of the producing agent to obtain
an appointment as provided herein.

 

4.04       It
is also specified that the General Agent shall be responsible for all commissions payable to any producing agents. The General
Agent and any producing agent shall not seek to hold the Company or Reinsurer liable through litigation, arbitration or otherwise
for commissions payable to such producing agents.

 

4.05       The
Company, in its sole discretion with or without cause, and without prior written notice, may terminate the appointment of any producing
agent.

 

4.06       The
General Agent shall not permit its subagents or subproducers to serve on its Board of Directors.

 

4.07       The
General Agent shall not appoint sub-managing general agents.

 

4.08       The
General Agent shall not employ an individual who is employed with the Company.

 

ARTICLE V

ADDITIONAL DUTIES OF AGENT

 

5.01       The
General Agent shall, at all times during the period of this Agreement, comply with all applicable laws and all orders, policy decisions
or other requirements of the Texas Department of Insurance or other applicable state insurance department, and in addition shall
also comply with all United States economic trade and sanction laws and regulations, as administered by the Office of Foreign Assets
Control (“OFAC”) of the United States Department of the Treasury.

 

5.02       All
books, records, accounts, documents and correspondence of the General Agent and any producing agent pertaining to the Company's
and Reinsurer's business shall, at all times, be open to examination by any authorized representative of the Company or Reinsurer.
The General Agent shall make copies of records available upon request by the Company or Reinsurer, whether such request is before
or after termination of this Agreement or the Reinsurance Agreement. The General Agent must maintain separate records of business,
including, but not limited to, underwriting files for each insurer for whom it acts as a general agent. Such records must be maintained
for five (5) years or until the completion of a financial examination by the insurance department of the state in which the Company
is domiciled, whichever is longer.

 

5.03       The
General Agent shall maintain adequate accounting procedures and systems, at no cost or expense to the Company, and shall provide
statistics in a timely manner for all reporting requirements under the Reinsurance Agreement or as shall be required from time
to time by the regulatory authorities of the State of Texas or any other applicable governmental agency or authority. Such statistical
information shall be provided to the Company by the General Agent at the General Agent's sole cost and expense.

 

5.04       The
General Agent shall forward to the Company, no later than the 30th day following the month being accounted for, a report in detail
of all policies of insurance written or placed, or liability increased or decreased, or policies continued or renewed or canceled
by or through the General Agent during the month being accounted for, which shall include all premiums due thereon whether collected
or not. Such report shall show the net amount due to the Company and Reinsurer on all such business on the lines of business authorized
to be written by the General Agent and the amounts paid in losses, loss adjustment expenses and commissions. Such report shall
also include, to the extent not already included, both insurance and reinsurance transactions, including:

 

		(a)	statement of written, earned and unearned premiums;

 

		(b)	losses and loss expenses outstanding;

 

(c)       losses
incurred but not reported; and

 

		(d)	any management fees.

 

The report shall be received by or confirmed
to the Company no later than thirty (30) days from the close of the month for which business is reported. The Company shall maintain
such account reports on file for at least five (5) years and shall make the account reports available to the Commissioner of Insurance
of the State of Texas (the "Commissioner"), or other applicable state department of insurance, for review upon request.

 

5.05       The
General Agent shall account for and furnish to the Company, upon request with reasonable notice, complete copies of all policies
issued, copies of all spoiled, voided or otherwise unissued policies, and copies of all claim files created with respect to all
loss occurrences under any policy issued under this Agreement.

 

5.06      
The title of all undelivered policies, books, supplies,
or other property related to the reinsured business is in the Company, and these shall be delivered to the Company by the General
Agent immediately upon the termination of this Agreement. The General Agent agrees to surrender peaceably the same without compelling
the Company to resort to any legal proceedings whatsoever. Upon request of the Company, prior to or after the termination of this
Agreement, the General Agent shall provide to the Company, at the General Agent’s sole cost and expense, electronic copies
of any and all data related to the reinsured business in a format reasonably specified by the Company. Further, the General Agent
shall ensure any vendor or other third party acknowledges and agrees the Company, at no expense to the Company, shall have use
of any systems, data, information, reports, files or statistics prior to or after the termination of this Agreement in support
of or relating to this Agreement as requested by the Company.

 

5.07       The
General Agent shall not insert any advertisement respecting the Company in any publication or issue any circular or paper referring
to the Company without first obtaining the written consent of the Company. The General Agent shall comply with all statutes and
regulations pertaining to advertising, and establish and maintain records of any such advertising as required by the applicable
laws of the states in which it is doing business.

 

5.08       The
General Agent shall maintain on behalf of the Company and Reinsurer complete copies of all policies issued hereunder and copies
of all claim files created with respect to all loss occurrences thereunder. Any or all policies and/or claim files required to
be maintained by General Agent pursuant to this Section 5.08 may be maintained in electronic data storage form accessible by computer
and if so stored in this fashion, no physical copy of such items need be maintained. Where electronic claims files are maintained
by the General Agent, any data from such files requested or required by the Company shall be provided within thirty (30) days or
less if so requested by the Company.

 

5.09       The
General Agent shall pay to the Reinsurer the positive balance, if any, no later than thirty (30) days following the end of the
month during which the business was written, of net written premiums collected hereunder (being defined as premiums received and/or
due the General Agent from the insured in a given month less return premiums) less the General Agent's Provisional Commissions
(as defined in the Reinsurance Agreement) and less loss adjustment expenses and loss payments. Should such balance be a negative
amount, the Reinsurer shall pay the General Agent as soon as possible after the end of the month, after receipt and verification
of the amount due as reported by the General Agent.

 

5.10       The
General Agent shall be solely responsible for procuring any renewal, extension, or new policy of insurance that may be required
by any state or rule or regulation of any state insurance department with respect to policies originally written directly for the
Company. The General Agent and Reinsurer shall indemnify the Company and hold it harmless from any loss, damage, cost, claim or
expense whatsoever that the Company may incur, or for which it may become liable, as a result of the said General Agent's failure,
refusal or neglect to fulfill said responsibility.

 

5.11       The
General Agent agrees that its duties and obligations under this Agreement shall be due and owing also to the Company's and Reinsurer's
successors and assigns.

 

5.12       Nothing
in this Article V shall be construed as requiring the Company to monitor the book of business which is the subject of the Reinsurance
Agreement for the benefit of the Reinsurer.

 

5.13       The
Company shall conduct or cause to be conducted a semi-annual examination of the General Agent, in accordance with the Company’s
examination guidelines. Furthermore, if the Company's aggregate premium volume increases by thirty (30) percent in any thirty (30)
day period, the Reinsurer at no expense to the Company, and on behalf of the Company, shall examine or cause to be examined within
ninety (90) days the General Agent if it writes more than twenty (20) percent of the Company's volume and has also experienced
a twenty (20) percent increase in premium volume during that same thirty (30) day period.

 

The examinations required under the preceding
paragraph shall adequately provide the Commissioner with the information outlined in (a) through (e) below, shall be made available
to the Commissioner for review, shall remain on file with the Company for a minimum of three (3) years and shall, at a minimum,
contain information concerning the following:

 

		(a)	claims procedures of the General Agent;

 

		(b)	timeliness of claims payments by the General Agent (i.e., lag time between date claim is reported
and date claim is paid);

 

		(c)	timeliness of premium reporting and collection by the General Agent;

 

		(d)	compliance by the General Agent with underwriting guidelines under Section 1.10 hereof; and

 

		(e)	reconciliation of policy inventory.

 

5.14       The
General Agent shall return any unearned premium due insureds or other persons on the business which is the subject of the Reinsurance
Agreement; if for any reason, the General Agent does not return such unearned premium, then the Reinsurer shall pay such amount
and/or amounts.

 

5.15       The
General Agent shall be duly licensed as required under applicable law to perform its duties hereunder.

 

5.16       Should
any state insurance department make a request to the Company for any data required to comply with a statistical data call, the
General Agent shall be solely responsible to provide the Company with such data. Should the request from such state insurance department
require the Company to contract the services of an outside source, such as an actuarial firm, to compile the data required, the
General Agent shall be responsible for its proportionate share of the total cost for services rendered.

 

5.17       General
Agent, when placing business under this Agreement, may not charge a per-policy fee in excess of any fees allowed by the applicable
insurance regulatory authority.

 

5.18       The
General Agent shall provide Company, at General Agent's expense, an independent financial examination in a form acceptable to the
applicable state departments of insurance, or other regulatory body, if required.

 

5.19       The
General Agent shall provide annually to Company, at General Agent's expense, an independent actuarial opinion attesting to the
adequacy of loss reserves established for losses incurred and outstanding on business produced hereunder if General Agent establishes
total loss reserves including IBNR, if required by the applicable insurance regulatory authority.

 

5.20       The
General Agent acknowledges receipt of the Company’s Statistical Reporting Policy and Procedure Manual, if applicable, and
will act in accordance therewith. The General Agent will act, at its sole cost and expense, on behalf of the Company to produce,
prepare, and file statistical information with the designated statistical reporting bureau, if applicable. The General Agent will
also furnish the Company, and other parties as designated by the Company, with monthly, quarterly and annual reports showing statistical
data in respect of the business written as required.

 

5.21       The
General Agent shall remit directly to Company on a monthly basis [***]%
of written premium for bureau fees related to statistical reporting, and boards and bureaus participation (“Bureau Fees”).
Should the actual amount of Bureau Fees be greater than the amount remitted to the Company on a monthly basis, the General Agent
shall remit such additional Bureau Fees within thirty (30) days of receiving notice in writing from the Company of such additional
Bureau Fees. In addition to the Bureau Fees, should the Company be charged any fines or penalties for incomplete, inaccurate, or
delinquent reporting, the General Agent shall pay such fines or penalties immediately upon written notice. Should the General Agent
fail to remit any amounts due to Company under this Section 5.21, then the Reinsurer shall pay such amounts within 60 days written
notice from the Company. The Bureau Fees are in addition to other fees and expenses expressly enumerated herein.

 

5.22       Upon
request of the Company or the Reinsurer, the General Agent shall provide an audited balance sheet of the General Agent as at the
end of each such fiscal year and the related audited statements of income and of cash flows for such fiscal year in accordance
with United States generally accepted accounting principles (“GAAP”) setting forth in each case in comparative form
the figures for the previous fiscal year, reported on without a “going concern” or like qualification or exception,
or qualification arising out of the scope of the audit, by an independent certified public accounting firm satisfactory to the
Company (the “Annual Financial Statements”). If the General Agent does not have the audited balance sheet described
above, it shall prepare or cause to be prepared for each of its fiscal quarters an unaudited balance sheet of the General Agent
as at the end of each such fiscal quarter and the related unaudited statements of income and of cash flows for such fiscal year
in accordance with GAAP setting forth in each case in comparative form the figures for the fiscal quarter (the “Quarterly
Financial Statements”). No later than thirty (30) days after they are prepared and issued, the General Agent shall deliver
to the Company and the Reinsurer a copy of the General Agent’s Annual Financial Statements. No later than ten (10) days after
they are prepared, the General Agent shall deliver to the Company and Reinsurer a copy of the General Agent’s Quarterly Financial
Statements.

 

5.23       If
the General Agent produces business in California on behalf of the Company, the General Agent must adhere to the rules and regulations
outlined in California Code of Regulations, Subchapter 9 Insurance Fraud, Article 2 Special Investigative Unit Regulations, in
its entirety, and the applicable provisions of the California Insurance Fraud Prevention Act, in addition to the terms and duties
set forth in this Agreement. The General Agent, the General Agent’s personnel, and the General Agent’s contracted third
party entity(ies), if applicable, must comply with all applicable state or federal anti-fraud requirements, statutes, and regulations.
The General Agent will require its personnel, and any contracted third party entity(ies), with responsibilities for business under
this Agreement, including without limitation, claims handlers, underwriters, policy handlers, call center staff within the claims
or policy function, legal staff and other employee classifications that perform similar duties (collectively “Integral Personnel”),
to refer suspected fraud to the Company’s designated Special Investigative Unit (“SIU”) as part of their regular
duties. Anti-fraud activities performed on behalf of the Company, including processing, investigating, or litigation pertaining
to the payment or denial of a claim or application for adjudication of a claim, or an application for insurance, are to be conducted
with oversight by the Company’s designated SIU. In the event the General Agent maintains any type of SIU facility, all anti-fraud
activities related to applications, policies, and claims underwritten, bound, or executed on behalf of the Company will be conducted
with oversight by, and referred to, the Company’s designated SIU.

 

The General Agent shall comply with all Company
requests for anti-fraud related reporting and information as statutorily required. Monthly reports of anti-fraud related data shall
include, but not be limited to, the number of California closed claims, the number of California SIU referrals to the Company’s
designated SIU, the number of newly hired employees, and the number of Integral Personnel handling the Company’s policies
and claims. If the General Agent produces business in California on behalf of the Company, the General Agent will require all Integral
Personnel to successfully complete anti-fraud in-service training that complies with the California Insurance Fraud Prevention
Act (California Insurance Code Sections 1871 et seq.) and the regulations promulgated thereunder by December 31st of each year,
or other date as may be necessitated by California requirements or reasonably required by the Company. The General Agent will provide
California-compliant documentation of the completion of such training, in a manner designated by the Company, and by the date specified
by the Company. The General Agent and its Integral Personnel are expressly prohibited from reporting suspected fraud to any Department
of Insurance or other regulatory entity. All suspected fraud is to be referred to the Company’s designated SIU. The Company,
directly and through the Company’s designated SIU, shall have the authority to exercise oversight over all aspects of anti-fraud
compliance related to the business under this Agreement or activities performed on behalf of the Company. The General Agent shall
remain responsible for implementation of compliant anti-fraud processes and procedures. The General Agent will fully cooperate
with the Company’s SIU compliance audits and will ensure that all corrective action plans are implemented on a timely basis.

 

ARTICLE VI

TERM AND TERMINATION

 

6.01       The
effective date of this Agency Agreement is 12:01 a.m., Central Time, on April 1, 2020, and shall remain continuously in force unless
canceled as follows:

 

(a)       This
Agreement may be canceled by any party at any time by giving at least ninety (90) days prior written notice to the other party.
Notice shall be provided by registered mail, return receipt requested, and notice shall be deemed to have been provided on the
date of mailing.

 

		(b)	Immediately by mutual consent of the Company and General Agent.

 

(c)       At
any time, by the Company, without prior notice in the event of the General Agent declaring bankruptcy or being declared or found
bankrupt or insolvent, or being the subject of a cease and desist order, corrective order, or being placed in, or subject to, a
proceeding of supervision, conservation, rehabilitation or liquidation.

 

(d)       Immediately
upon written notice by the Company in the event of the cancellation or non-renewal of the General Agent's license by the California
Department of Insurance.

 

(e)       Immediately
upon written notice by the General Agent in the event any action against the Company is commenced by Texas Department of Insurance
or other applicable state insurance department pursuant to rehabilitation or liquidation. The Company agrees to furnish notice
of such action immediately to the General Agent.

 

(f)       If
the General Agent shall default in making remittance for net premiums then this Agreement shall be terminated according to the
terms provided in Section 4.02(d) of the Reinsurance Agreement.

 

(g)       If
the General Agent shall defraud or attempt to defraud the Company; or any policyholder, then the Company may at its sole discretion
cancel this contract by giving the General Agent written notice of cancellation served personally or by mail, which shall be effective
immediately.

 

(h)       As
provided in Section 8.11 of this Agreement.

 

		(i)	Automatically and immediately,
without notice upon cancellation or termination of the Reinsurance Agreement.

 

6.02       This
Agreement shall automatically become renewed from year to year upon the renewal of the license or certificate of authority granted
to the Company by the Delaware Department of Insurance, provided this Agreement shall not be otherwise canceled.

 

6.03       It
is expressly agreed and understood that nothing in this Article VI authorizes the General Agent to write any new business under
this Agreement should the Reinsurance Agreement terminate, except the business that is required to be renewed or issued because
of applicable law or regulation, as provided in Section 4.03 of the Reinsurance Agreement.

 

6.04       The
Company shall have no liability to the General Agent by virtue of the Company's termination of this Agreement as set forth in this
Article; it being expressly understood that partial consideration for the Company's grant of agency authority to the General Agent
is the General Agent's promise that the Company shall not be responsible for any damages which might arise by virtue of any termination
of this Agreement.

 

6.05       In
the event of termination of this Agreement, after the General Agent having promptly accounted for and paid over premiums for which
it may be liable, the General Agent's records, use and control of expirations shall remain the property of the General Agent and
left in its undisputed possession.

 

6.06       In
the event that this Agreement is terminated, the General Agent, for no additional fee, shall have the authority (unless revoked
by the Company at its sole discretion in which case the Reinsurer shall appoint a successor at no cost to the Company) as provided
in this Agreement to continue to perform all of its duties under this Agreement on the remaining policies during the run-off period.
The General Agent's duties during the run-off period shall include handling and servicing of all policies through their natural
expiration, together with any policy renewals required to be made by the provisions of applicable law, whether or not the effective
date of such renewal is subsequent to the effective date of cancellation of this Agreement. Further, upon termination of this Agreement,
the General Agent shall not be relieved of or released from any obligation created by or under this Agreement in relation to payment,
expenses, reports, accounting or handling, which relate to the outstanding insurance business under this Agreement existing on
the date of such termination. The Company, General Agent and Reinsurer will cooperate in handling all such business until the business
has expired either by cancellation or by the terms of the policies and all outstanding losses and loss adjustment expenses have
been settled.

 

6.07       As
the Reinsurance Agreement provides for termination on a run-off basis, the relevant provisions of this Agreement shall apply to
business being run-off. It is also expressly agreed that the terms, conditions and obligations of the Preamble and Articles II,
IV and V, Sections 6.04, 6.05, 6.06, 6.07 and 6.08, Articles VII, Section 8.11 and Article IX herein shall survive termination
of this Agreement.

 

6.08       The
Company may suspend the authority of the General Agent during the pendency of any dispute regarding any event of default by the
General Agent.

 

ARTICLE VII

HOLD HARMLESS AND INDEMNIFICATION

 

The General Agent agrees
to and does hereby indemnify and hold the Company harmless from and against any and all actions, causes of actions, suits, arbitrations,
or proceedings of any kind, liabilities, losses, claims, damages, costs, or expenses (including attorneys' fees and expenses),
incurred by the Company by reason of, arising out of, or relating in any way to this Agreement or any action taken or inaction
by the General Agent in breach of the terms of this Agreement, United States economic trade and sanction laws and regulations as
administered by OFAC, or the terms of the Reinsurance Agreement, or which is not in full compliance therewith.

 

ARTICLE VIII

MISCELLANEOUS

 

8.01       This
Agreement has been made and entered into in the State of Texas and shall be governed by and construed in accordance with the laws
of the State of Texas.

 

8.02       This
Agreement is not exclusive and the Company reserves the right to appoint other agents in the territory covered by this Agreement
and the General Agent reserves the right to act as General Agent for other insurers or reinsurers.

 

8.03       This
Agreement shall be binding upon the parties hereto, together with their respective successors.

 

8.04       The
Company shall have no right of control over the General Agent as to time, means or manner of the General Agent's conduct within
the terms of the Agreement and the Reinsurance Agreement and the authority herein granted and nothing herein is intended or shall
be deemed to constitute the General Agent an employee or servant of the Company. The General Agent shall at all times be an independent
contractor.

 

8.05       This
Agreement shall be deemed performable at the Company's administrative office in Bedford, Texas, and it is agreed that the venue
of any controversy arising out of this Agreement, or for the breach thereof, shall be in Tarrant County, Texas.

 

8.06       No
party shall assign any of its rights or obligations under this Agreement. No verbal modification will be recognized by any party
hereto and this Agreement cannot be modified by any subsequent practices or course of dealing by the parties inconsistent herewith.
If the Company or the General Agent shall fail to take advantage of a breach, if any, by another party of the terms, conditions,
covenants, or any of them herein contained, such failure shall not be deemed to constitute, or be construed as, a waiver of any
rights on the part of the General Agent or Company to thereafter enforce any of the said terms, conditions or covenants.

 

8.07       This
Agreement may be amended, modified or supplemented only by a written instrument executed by all parties hereto. All such amendments
or changes shall specify the effective date of such amendments or changes.

 

8.08       This
Agreement supersedes any and all provisions, terms and/or conditions of any other general agency agreements, whether oral or written,
by between and among the parties with respect to the subject matter hereof.

 

8.09       The
General Agent shall notify the Company in writing within thirty (30) days when there is a change in the ownership of 10% or more
of the outstanding stock in the General Agent or when there is any change in the General Agent's principal officers or directors.

 

8.10       The
General Agent shall not offset balances due under this Agreement against balances due or owing under any other contract.

 

8.11       This
Agreement shall be interpreted in conformance with applicable Texas law and regulation. If it is found or ordered by a court or
regulatory body that any provision or term of this Agreement does not conform to such law or regulation then this Agreement shall
be deemed to be amended, and modified to be in accordance with such law. However, where this Agreement is found not to comply with
applicable law or regulations, the Company may in its sole discretion terminate this Agreement immediately and without prior notice.

 

8.12       This
Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument.

 

ARTICLE IX

ARBITRATION

 

9.01       As
a condition precedent to any right of action hereunder, in the event of any dispute or difference of opinion hereafter arising
between the Company, on the one hand, and the General Agent, on the other hand, with respect to this Agreement or with respect
to the General Agent's and/or the Company's obligations hereunder, it is hereby mutually agreed that such dispute or difference
of opinion shall be submitted to arbitration.

 

9.02       The
Company shall choose one arbiter (an "Arbiter") and the General Agent shall choose one Arbiter. An umpire (an "Umpire")
shall be chosen by the two Arbiters, all of whom shall be active or retired disinterested executive officers of property and casualty
insurance or reinsurance companies.

 

9.03       Both
the General Agent and the Company shall choose an Arbiter within 30 days following a written request by one party to the other
to name an Arbiter. In the event either the Company or the General Agent fails to choose an Arbiter within this time period, the
party who has chosen its Arbiter may choose the unchosen Arbiter. Thereafter, the Arbiters shall choose an Umpire before entering
upon arbitration. If the Arbiters fail to agree upon the selection for the Umpire within 30 days following their appointment, each
Arbiter shall name three nominees, of whom the other shall decline two and the decision shall be made by drawing lots.

 

9.04       Each
side shall present its case to the Arbiters and Umpire, in a hearing in Dallas, Texas. The Arbiters and Umpire shall consider this
Agreement as an honorable engagement, as well as a legal obligation, and they are relieved of all judicial formalities and may
abstain from following the strict rules of law regarding entering of evidence. The decision in writing by a majority of the Arbiters
and Umpire when filed with the Company and the General Agent shall be final and binding. Judgment upon the final decision of the
Arbiters and Umpire may be entered in any court of competent jurisdiction.

 

9.05       In
the event of a dispute between the Company and the General Agent concerning this Agreement and the Quota Share Reinsurance Agreement
between the Company and the Reinsurer, regardless of whether either party has claims against the Reinsurer, the entire dispute
between the Company and the General Agent shall be subject to arbitration as provided under this Article IX.

 

9.06       The
costs of the arbitration, including the fees of the Arbiters and the Umpire, shall be borne equally by the sides unless the Arbiters
and Umpire shall decide otherwise.

 

9.07       This
Agreement shall be interpreted under the laws of Texas and the arbitration shall be governed by the Texas Arbitration Code.

 

ARTICLE X

PRIVACY

 

10.01       The
General Agent shall provide to each new policyholder, prior to or upon the issuance of any Policies written under this Agreement,
and in accordance with applicable state and federal laws, an initial notice of the Company’s privacy policies and practices.
Not less than annually thereafter, the General Agent, upon the request of the Company, distribute a copy of the Company’s
annual privacy notice, as may be amended from time to time, to each existing policyholder. In addition, the General Agent shall,
upon the request of the Company, distribute revised privacy notices and opt-out notices as applicable to each policyholder to reflect
any revisions which may be made to the Company’s privacy policies and practices. In each case, the Company shall be responsible
for providing the General Agent with a copy of the form for its privacy policies and practices notice, which forms the General
Agent shall use to create and deliver the notices described herein, at the General Agent’s sole cost and expense. These notices
shall be created and delivered independent of any separate legal obligation the General Agent may have to create and deliver its
own such notices.

10.02       The
General Agent shall not disclose or use any nonpublic personal financial information or nonpublic personal health information related
to any policyholder, or to any consumer or customer (as such terms are defined under applicable state and federal privacy laws),
except as necessary to carry out its duties and obligations under this Agreement or as otherwise permitted under applicable state
or federal law.

10.03       The
General Agent shall develop and implement, in accordance with applicable state and federal laws, a comprehensive written information
security program designed to (i) ensure the security and confidentiality of nonpublic personal financial information and nonpublic
personal health information related to any policyholder, or to any consumer or customer (as such terms are defined under applicable
state and federal privacy laws), (ii) protect against any anticipated threats or hazards to the security or integrity of such information,
and (iii) protect against unauthorized access to or use of such information that could result in substantial harm or inconvenience
to any customer.

 

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SIGNATURES APPEAR ON THE FOLLOWING PAGE.]

    	 

    	 

    

 

IN WITNESS WHEREOF, the
Parties hereto by their respective duly authorized representatives have executed this Agreement as of the date first above written.

 

 

UNITED SPECIALTY INSURANCE COMPANY

 

 

BY:/s/ David Cleff

 

ITS:EVP

 

DATE:4-3-2020

 

 

UNIFAX INSURANCE SYSTEMS, INC.

 

 

BY:/s/ Cary L. Cheldin

 

ITS:President

 

DATE:4-1-20

 

 

CRUSADER INSURANCE COMPANY

 

BY:/s/ Cary L. Cheldin

 

ITS:President

 

DATE:4-1-20

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