Document:

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                                                                    EXHIBIT 10.8

                     PROMISSORY NOTE MODIFICATION AGREEMENT

THIS NOTE MODIFICATION AGREEMENT ("Modification") is dated effective as of
February 3, 2004, by and between SAFE AUTO GROUP, INC., AN OHIO CORPORATION
("Borrower"), and NATIONAL CITY BANK, A NATIONAL BANKING ASSOCIATION ("Bank").

WHEREAS, Bank previously agreed to lend to Borrower an amount not to exceed the
sum of Five Million and 00/100 Dollars ($5,000,000.00) ("Loan"), which Loan was
evidenced by a certain promissory note dated February 22, 2002, (as extended,
amended or otherwise modified to date, the "Note") and a Commercial Note
Addendum dated of even date with said Note (the "Addendum") (the said Note,
Addendum, and any other instrument or document given in connection with or to
secure the Loan being collectively referred to herein as "Loan Documents"); and

WHEREAS, the Loan was jointly and severally guaranteed by Ari Deshe,
individually and Jon Diamond, individually, (collectively, the "Guarantors", and
individually a "Guarantor"), pursuant to that certain limited guaranty agreement
dated of even date with the Note (the "Guaranty"), which Guaranty provides that
the liability of Guarantors is limited to $2,500,000.00, plus interest, late
charges and certain other costs and expenses; and

WHEREAS, the parties hereto have agreed to modify the Note to increase the face
amount thereof to $8,000,000.00.

NOW, THEREFORE, in consideration of the foregoing promises and the covenants
contained herein, the parties hereto agree as follows:

1.    Liability of Borrower. Borrower hereby ratifies and reconfirms Borrower's
      obligations and all liability to Bank under the terms and conditions of
      the Loan Documents and acknowledges that Borrower has no defenses to or
      rights of set-off against Borrower's obligations and all liability to Bank
      thereunder. Borrower further acknowledges that Bank has performed all of
      Bank's obligations under the Loan Documents.

2.    Modification. As of the effective date hereof, the face amount of the Note
      is hereby increased to $8,000,000.00. All references in the Loan Documents
      to $5,000,000.00 as representing either the face amount of the Note or the
      initial amount of the "Subject Commitment" shall as of the effective date
      of this Modification be references to $8,000,000.00. Nothing in the
      foregoing sentence shall modify or otherwise affect any provision of the
      Note that provides or allows for the reduction, termination or other
      change in the amount of the Subject Commitment.

3.    Modification Fee. In consideration of Bank agreeing to this Modification,
      Borrower shall pay Bank, on the date of this Modification, a
      non-refundable modification fee in an amount equal to Seven Thousand Five
      Hundred and 00/100 Dollars ($7,500.00).

4.    Ratification of Loan Documents. The Loan Documents are in all respects
      ratified and confirmed by the parties hereto and incorporated by reference
      herein, and each of the Loan Documents and this Modification shall be
      read, taken and construed as one and the same instrument. All collateral
      securing the Note, shall continue to secure the Note as modified hereby.
      Capitalized terms used herein and not otherwise defined shall have the
      meanings given to them in the Note. In the event of any conflict between
      the terms and provisions of

                                       1

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      this Modification and the terms and provisions of the Note, the terms and
      provisions of this Modification shall control. This Modification shall not
      be effective unless and until each of the Guarantors executes the
      Guarantors' Consent attached to and made a part hereof.

5.    CONFESSION OF JUDGMENT. Borrower hereby authorizes any attorney at law to
      appear in any state or federal court of record in the United States of
      America after the maturity hereof (whether occurring by lapse of time or
      acceleration), to waive the issuance and service of process, to admit the
      maturity of the Note and the amount then appearing due, to confess
      judgment against Borrower in favor of the holder hereof for the amount
      then appearing due, together with interest and costs of suit, and
      thereupon to release all errors and to waive all rights of appeal and stay
      of execution. No judgment shall bar any subsequent judgment. Should any
      judgment be vacated for any reason, this warrant of attorney nevertheless
      may thereafter be used for obtaining additional judgments.

IN WITNESS WHEREOF, the undersigned have caused this Modification to be executed
as of the day and year first above written.

WARNING-BY SIGNING THIS PAPER YOU GIVE UP YOUR RIGHT TO NOTICE AND COURT TRIAL.
IF YOU DO NOT PAY ON TIME A COURT JUDGMENT MAY BE TAKEN AGAINST YOU WITHOUT YOUR
PRIOR KNOWLEDGE AND THE POWERS OF A COURT CAN BE USED TO COLLECT FROM YOU
REGARDLESS OF ANY CLAIMS YOU MAY HAVE AGAINST THE CREDITOR WHETHER FOR RETURNED
GOODS, FAULTY GOODS, FAILURE ON HIS PART TO COMPLY WITH THE AGREEMENT, OR ANY
OTHER CAUSE.

                                        Borrower:

                                        SAFE AUTO GROUP, INC.

                                        By:/s/ Ari Deshe
                                           -------------------------------------
                                           ARI DESHE, CHAIRMAN

                                        Bank:

                                        NATIONAL CITY BANK

                                        By:/s/ Brian T. Strayton
                                           -------------------------------------
                                           BRIAN T. STRAYTON, VICE PRESIDENT

                 [GUARANTORS' CONSENT APPEARS ON FOLLOWING PAGE]

                                        2
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                               GUARANTORS' CONSENT

Each of the undersigned Guarantors, intending to be legally bound, hereby
acknowledges and agrees that: (i) such Guarantor consents to the foregoing
Promissory Note Modification Agreement ("Modification") dated February 3, 2004,
by and between SAFE AUTO GROUP, INC., AN OHIO CORPORATION ("Borrower") and
NATIONAL CITY BANK, A NATIONAL BANKING ASSOCIATION ("Bank"); (ii) the Guaranty
given by such Guarantor to secure the payment of the obligations and
indebtedness of Borrower to Bank remains in full force and effect and is
unaffected by the Modification; (iii) such Guarantor is bound as if such
Guarantor were a party to the Modification; and (iv) such Guarantor hereby
reaffirms and restates such Guarantor's absolute and unconditional guaranty of,
and agreement to become a surety for, the obligations and indebtedness of
Borrower to Bank, whether now existing or hereafter arising, including, but not
limited, to those obligations and indebtedness evidenced by the Modification.

                                       GUARANTORS:

Date: Feb. 3rd, 2004                     /s/ Ari Deshe
                                        ----------------------------------------
                                        ARI DESHE, INDIVIDUALLY

                                        /s/ Jon Diamond
                                        ----------------------------------------
Date: Feb. 3rd, 2004                    JON DIAMOND, INDIVIDUALLY

WARNING-BY SIGNING THIS PAPER YOU GIVE UP YOUR RIGHT TO NOTICE AND COURT TRIAL.
IF YOU DO NOT PAY ON TIME A COURT JUDGMENT MAY BE TAKEN AGAINST YOU WITHOUT YOUR
PRIOR KNOWLEDGE AND THE POWERS OF A COURT CAN BE USED TO COLLECT FROM YOU
REGARDLESS OF ANY CLAIMS YOU MAY HAVE AGAINST THE CREDITOR WHETHER FOR RETURNED
GOODS, FAULTY GOODS, FAILURE ON HIS PART TO COMPLY WITH THE AGREEMENT, OR ANY
OTHER CAUSE.

                                       3<PAGE>
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                                                                               .

                                                                 EXHIBIT 10.9

[NATIONAL CITY LOGO]

                           COMMERCIAL PLEDGE AGREEMENT

<TABLE>
<S>                                    <C>                                               <C>
GRANTOR: SAFE AUTO GROUP, INC.         LENDER:  NATIONAL CITY BANK
         3883 EAST BROAD STREET                 COLUMBUS - CORPORATE BANKING LOC
         COLUMBUS, OH  43213-1129               155 EAST BROAD STREET
                                                COLUMBUS, OH  43215
</TABLE>

THIS COMMERCIAL PLEDGE AGREEMENT DATED FEBRUARY 22, 2002 IS MADE AND EXECUTED
BETWEEN SAFE AUTO GROUP, INC. ("GRANTOR") AND NATIONAL CITY BANK ("LENDER").

GRANT OF SECURITY INTEREST. FOR VALUABLE CONSIDERATION, GRANTOR GRANTS TO LENDER
A SECURITY INTEREST IN THE COLLATERAL TO SECURE THE INDEBTEDNESS AND AGREES THAT
LENDER SHALL HAVE THE RIGHTS STATED IN THIS AGREEMENT WITH RESPECT TO THE
COLLATERAL, IN ADDITION TO ALL OTHER RIGHTS WHICH LENDER MAY HAVE BY LAW.

COLLATERAL DESCRIPTION. The word "Collateral" as used in this Agreement means
all of Grantor's property (however owned if more than one), in the possession of
Lender (or in the possession of a third party subject to the control of Lender),
whether existing now or later and whether tangible or intangible in character,
including without limitation each and all of the following:

     100 SHARES OF SAFE AUTO INSURANCE COMPANY STOCK, CERTIFICATE NO. 1

In addition, the word "Collateral" includes all of Grantor's property (however
owned), in the possession of Lender (or in the possession of a third party
subject to the control of Lender), whether now or hereafter existing and whether
tangible or intangible in character, including without limitation each of the
following:

     (A)  ALL PROPERTY TO WHICH LENDER ACQUIRES TITLE OR DOCUMENTS OF TITLE.

     (B)  ALL PROPERTY ASSIGNED TO LENDER.

     (C)  ALL PROMISSORY NOTES, BILLS OF EXCHANGE, STOCK CERTIFICATES, BONDS,
          SAVINGS PASSBOOKS, TIME CERTIFICATES OF DEPOSIT, INSURANCE POLICIES,
          AND ALL OTHER INSTRUMENTS AND EVIDENCES OF AN OBLIGATION.

     (D)  ALL RECORDS RELATING TO ANY OF THE PROPERTY DESCRIBED IN THIS
          COLLATERAL SECTION, WHETHER IN THE FORM OF A WRITING, MICROFILM,
          MICROFICHE, OR ELECTRONIC MEDIA.

     (E)  ALL INCOME AND PROCEEDS FROM THE COLLATERAL AS DEFINED HEREIN.

CROSS-COLLATERALlZATION. In addition to the Note, this Agreement secures all
obligations, debts and liabilities, plus interest thereon, of Grantor to Lender,
or any one or more of them, as well as all claims by Lender against Grantor or
any one or more of them, whether now existing or hereafter arising, whether
related or unrelated to the purpose of the Note, whether voluntary or otherwise,
whether due or not due, direct or indirect, determined or undetermined, absolute
or contingent, liquidated or unliquidated whether Grantor may be liable
individually or jointly with others, whether obligated as guarantor, surety,
accommodation party or otherwise, and whether recovery upon such amounts may be
or hereafter may become barred by any statute of limitations, and whether the
obligation to repay such amounts may be or hereafter may become otherwise
unenforceable.

REPRESENTATIONS AND WARRANTIES WITH RESPECT TO THE COLLATERAL. Grantor
represents and warrants to Lender that:

     OWNERSHIP. Grantor is the lawful owner of the Collateral free and clear of
     all security interests, liens, encumbrances and claims of others except as
     disclosed to and accepted by Lender in writing prior to execution of this
     Agreement.

     RIGHT TO PLEDGE. Grantor has the full right, power and authority to enter
     into this Agreement and to pledge the Collateral.

     AUTHORITY; BINDING EFFECT. Grantor has the full right, power and authority
     to enter into this Agreement and to grant a security interest in the
     Collateral to Lender. This Agreement is binding upon Grantor as well as
     Grantor's successors and assigns, and is legally enforceable in accordance
     with its terms. The foregoing representations and warranties, and all
     other representations and warranties contained in this Agreement are and
     shall be continuing in nature and shall remain in full force and effect
     until such time as this Agreement is terminated or cancelled as provided
     herein.

     NO FURTHER ASSIGNMENT. Grantor has not, and shall not, sell, assign,
     transfer, encumber or otherwise dispose of any of Grantor's rights in the
     Collateral except as provided in this Agreement.

     NO DEFAULTS. There are to defaults existing under the Collateral, and there
     are no offsets or counterclaims to the same. Grantor will strictly and
     promptly perform each of the terms, conditions, covenants and agreements,
     if any, contained in the Collateral which are to be performed by Grantor.

     NO VIOLATION. The execution and delivery of this Agreement will not violate
     any law or agreement governing Grantor or to which Grantor is a party, and
     its certificate or articles of incorporation and bylaws or code of
     regulations do not prohibit any term or condition of this Agreement.

     FINANCING STATEMENTS. Grantor authorizes Lender to file a UCC-1 financing
     statement, or alternatively, a copy of this Agreement to perfect Lender's
     security interest. At Lender's request, Grantor additionally agrees to sign
     all other documents that are necessary to perfect, protect, and continue
     Lender's security interest in the Property. Grantor will pay all filing,
     fees, title transfer fees, and other fees and costs involved unless
     prohibited by law or unless Lender is required by law to pay such fees and
     costs. Grantor irrevocably appoints Lender to execute financing statements
     and documents of title in Grantor's name and to execute all documents
     necessary to transfer title if there is a default. Lender may file a copy
     of this Agreement as a financing statement. If Grantor changes Grantor's
     name or address, or the name or address of any person granting a security
     interest under this Agreement changes, Grantor will promptly notify the
     Lender of such change.

LENDER'S RIGHTS AND OBLIGATIONS WITH RESPECT TO THE COLLATERAL. Lender may hold
the Collateral until all Indebtedness has been paid and satisfied. Thereafter
Lender may deliver the Collateral to Grantor or to any other owner of the
Collateral. Lender shall have the following rights in addition to all other
rights Lender may have by law:

     MAINTENANCE AND PROTECTION OF COLLATERAL. Lender may, but shall not be
     obligated to, take such steps as it deems necessary or desirable to
     protect, maintain, insure, store, or care for the Collateral, including
     paying of any liens or claims against the Collateral. This may include such
     things as hiring other people, such as attorneys, appraisers or other
     experts. Lender may charge Grantor for any cost incurred in so

<PAGE>

                           COMMERCIAL PLEDGE AGREEMENT
                                   (CONTINUED)                            PAGE 2

     doing. When applicable law provides more than one method of perfection of
     Lender's security interest, Lender may choose the method(s) to be used. If
     the Collateral consists of stock, bonds or other investment property for
     which no certificate has been issued, Grantor agrees, at Lender's request,
     either to request issuance of an appropriate certificate or to give
     instructions on Lender's forms to the issuer, transfer agent, mutual fund
     company, or broker, as the case, may be, to record on its books or records
     Lender's security interest in the Collateral.

     INCOME AND PROCEEDS FROM THE COLLATERAL. Lender may receive all Income and
     Proceeds and add it to the Collateral. Grantor agrees to deliver to Lender
     immediately upon receipt, in the exact form received and without
     commingling with other property, all Income and Proceeds from the
     Collateral which may be received by, paid, or delivered to Grantor or for
     Grantor's account, whether as an addition to, in discharge of, in
     substitution of, or in exchange for any of the Collateral.

     APPLICATION OF CASH. At Lender's option, Lender may apply any cash, whether
     included in the Collateral or received as Income and Proceeds or through
     liquidation, sale, or retirement, of the Collateral, to the satisfaction of
     the Indebtedness or such portion thereof as Lender shall choose, whether or
     not matured.

     TRANSACTIONS WITH OTHERS. Lender may (1) extend time for payment or other
     performance, (2) grant a renewal or change in terms or conditions, or (3)
     compromise, compound or release any obligation, with any one or more
     Obligors, endorsers, or Guarantors of the Indebtedness as Lender deems
     advisable, without obtaining the prior written consent of Grantor, and no
     such act or failure to act shall affect Lender's rights against Grantor or
     the Collateral.

     ALL COLLATERAL SECURES INDEBTEDNESS. All Collateral shall be security for
     the Indebtedness, whether the Collateral is located at one or more offices
     or branches of Lender. This will be the case whether or not the office or
     branch where Grantor obtained Grantor's loan knows about the Collateral or
     relies upon the Collateral as security.

     COLLECTION OF COLLATERAL. Lender at Lender's option may, but need not,
     collect the Income and Proceeds directly from the Obligors. Grantor
     authorizes and directs the Obligors, if Lender decides to collect the
     Income and Proceeds, to pay and deliver to Lender all Income and Proceeds
     from the Collateral and to accept Lender's receipt for the payments.

     POWER OF ATTORNEY. Grantor irrevocably appoints Lender as Grantor's
     attorney-in-fact, with full power of substitution, (a) to demand, collect,
     receive, receipt for, sue and recover all Income and Proceeds and other
     sums of money and other property which may now or hereafter become due,
     owing or payable from the Obligors in accordance with the terms of the
     Collateral; (b) to execute, sign and endorse any and all instruments,
     receipts, checks, drafts and warrants issued in payment for the Collateral;
     (c) to settle or compromise any and all claims arising under the
     Collateral, and in the place and stead of Grantor, execute and deliver
     Grantor's release and acquittance for Grantor; (d) to file any claim or
     claims or to take any action or institute or take part in any proceedings,
     either in Lender's own name or in the name of Grantor, or otherwise, which
     in the discretion of Lender may seem to be necessary or advisable; and (e)
     to execute in Grantor's name and to deliver to the Obligors on Grantor's
     behalf, at the time and in the manner specified by the Collateral, any
     necessary instruments or documents.

     PERFECTION OF SECURITY INTEREST. Upon Lender's request, Grantor will
     deliver to Lender any and all of the documents evidencing or constituting
     the Collateral. When applicable law provides more than one method of
     perfection of Lender's security interest, Lender may choose the method(s)
     to be used. Upon Lender's request, Grantor will sign and deliver any
     writings necessary to perfect Lender's security interest. If any of the
     Collateral consists of securities for which no certificate has been issued,
     Grantor agrees, at Lender's option, either to request issuance of an
     appropriate certificate or to execute appropriate instructions on Lender's
     forms instructing the issuer, transfer agent, mutual fund company, or
     broker, as the case may be, to record on its books or records, by
     book-entry or otherwise, Lender's security interest in the Collateral.
     Grantor hereby appoints Lender as Grantor's irrevocable attorney-in-fact
     for the purpose of executing any documents necessary to perfect, amend, or
     to continue the security interest granted in this Agreement or to demand
     termination of filings of other secured parties.

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would
materially affect Lender's interest in the Collateral or if Grantor fails to
comply with any provision of this Agreement or any Related Documents, including
but not limited to Grantor's failure to discharge or pay when due any amounts
Grantor is required to discharge or pay under this Agreement or any Related
Documents, Lender on Grantor's behalf may (but shall not be obligated to) take
any action that Lender deems appropriate, including but not limited to
discharging or paying all taxes, liens, security interests, encumbrances and
other claims, at any time levied or placed on the Collateral and paying all
costs for insuring, maintaining and preserving the Collateral. All such
expenditures incurred or paid by Lender for such purposes will then bear
interest at the rate charged under the Note from the date incurred or paid by
Lender to the date of repayment by Grantor. All such expenses will become a
part of the Indebtedness and, at Lender's option, will (A) be payable on
demand; (B) be added to the balance of the Note and be apportioned among and be
payable with any installment payments to become due during either (1) the term
of any applicable insurance policy; or (2) the remaining term of the Note; or
(C) be treated as a balloon payment which will be due and payable at the Note's
maturity. The Agreement also will secure payment of these amounts. Such right
shall be in addition to all other rights and remedies to which Lender may be
entitled upon Default.

LIMITATIONS ON OBLIGATIONS OF LENDER. Lender shall use ordinary reasonable care
in the physical preservation and custody of the Collateral in Lender's
possession, but shall have no other obligation to protect the Collateral or its
value. In particular, but without limitation, Lender shall have no
responsibility for (A) any depreciation in value of the Collateral or for the
collection or protection of any Income and Proceeds from the Collateral, (B)
preservation of rights against parties to the Collateral or against third
persons, (C) ascertaining any maturities, calls, conversions, exchanges, offers,
tenders, or similar matters relating to any of the Collateral, or (D) informing
Grantor about any of the above, whether or not Lender has or is deemed to have
knowledge of such matters. Except as provided above, Lender shall have no
liability for depreciation or deterioration of the Collateral.

DEFAULT. Each of the following shall constitute an Event of Default under this
Agreement:

     PAYMENT DEFAULT. Grantor fails to make any payment when due under the
     Indebtedness.

     OTHER DEFAULTS. Grantor fails to comply with or to perform any other term,
     obligation, covenant or condition contained in this Agreement or in any of
     the Related Documents or to comply with or to perform any term, obligation,
     covenant or condition contained in any other agreement between Lender and
     Grantor.

     FALSE STATEMENTS. Any warranty, representation or statement made or
     furnished to Lender by Grantor or on Grantor's behalf under this Agreement
     or the Related Documents is false or misleading in any material respect,
     either now or at the time made or furnished or becomes false or misleading
     at any time thereafter.

     DEFECTIVE COLLATERALIZATION. This Agreement or any of the Related Documents
     ceases to be in full force and effect (including failure of any collateral
     document to create a valid and perfected security interest or lien) at any
     time and for any reason.

<PAGE>

                           COMMERCIAL PLEDGE AGREEMENT
                               (CONTINUED)                                PAGE 3

     INSOLVENCY. The dissolution or termination of Grantor's existence as a
     going business, the insolvency of Grantor, the appointment of a receiver
     for any part of Grantor's property, any assignment for the benefit of
     creditors, any type of creditor workout, or the commencement of any
     proceeding under any bankruptcy or insolvency laws by or against Grantor.

     CREDITOR OR FORFEITURE PROCEEDINGS. Commencement of foreclosure or
     forfeiture proceedings, whether by judicial proceeding, self-help,
     repossession or any other method, by any creditor of Grantor or by any
     governmental agency against any collateral securing the Indebtedness. This
     includes a garnishment of any of Grantor's accounts, including deposit
     accounts, with Lender. However, this Event of Default shall not apply if
     there is a good faith dispute by Grantor as to the validity or
     reasonableness of the claim which is the basis of the creditor or
     forfeiture proceeding and if Grantor gives Lender written notice of the
     creditor or forfeiture proceeding and deposits with Lender monies or a
     surety bond for the creditor or forfeiture proceeding, in an amount
     determined by Lender, in its sole discretion, of being an adequate reserve
     or bond for the dispute.

     EVENTS AFFECTING GUARANTOR. Any of the preceding events occurs with respect
     to Guarantor of any of the Indebtedness or Guarantor dies or becomes
     incompetent or revokes or disputes the validity of, or liability under,
     any Guaranty of the Indebtedness.

     ADVERSE CHANGE. A material adverse change occurs in Grantor's financial
     condition, or Lender believes the prospect of payment or performance of the
     Indebtedness is impaired.

RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this
Agreement, at any time thereafter, Lender may exercise any one or more of the
following rights and remedies:

     ACCELERATE INDEBTEDNESS. Declare all Indebtedness, including any prepayment
     penalty which Grantor would be required to pay, immediately due and
     payable, without notice of any kind to Grantor.

     COLLECT THE COLLATERAL. Collect any of the Collateral and, at Lender's
     option and to the extent permitted by applicable law, retain possession of
     the Collateral while suing on the Indebtedness.

     SELL THE COLLATERAL. Sell the Collateral, at Lender's discretion, as a unit
     or in parcels, at one or more public or private sales. Unless the
     Collateral is perishable or threatens to decline speedily in value or is of
     a type customarily sold on a recognized market, Lender shall give or mail
     to Grantor, and other persons as required by law, notice at least ten (10)
     days in advance of the time and place of any public sale, or of the time
     after which any private sale may be made. However, no notice need be
     provided to any person who, after an Event of Default occurs, enters into
     and authenticates an agreement waiving that person's right to notification
     of sale. Grantor agrees that any requirement of reasonable notice as to
     Grantor is satisfied if Lender mails notice by ordinary mail addressed to
     Grantor at the last address Grantor has given Lender in writing. If a
     public sale is held, there shall be sufficient compliance with all
     requirements of notice to the public by a single publication in any
     newspaper of general circulation in the county where the Collateral is
     located, setting forth the time and place of sale and a brief description
     of the property to be sold. Lender may be a purchaser at any public sale.

     SELL SECURITIES. Sell any securities included in the Collateral in a manner
     consistent with applicable federal and state securities laws. If, because
     of restrictions under such laws Lender is unable, or believes, Lender is
     unable, to sell the securities in an open market transaction, Grantor
     agrees that Lender will have no obligation to delay sale until the
     securities can be registered. Then Lender may make a private sale to one or
     more persons or to a restricted group of persons, even though such sale may
     result in a price than is less favorable than might be obtained in an open
     market transaction. Such a sale will be considered commercially reasonable.
     If any securities held as Collateral are "restricted securities" as defined
     in the Rules of the Securities and Exchange Commission (such as Regulation
     D or Rule 144) or the rules of state securities departments under state
     "BLUE SKY" laws, or if Grantor or any other owner of the Collateral is an
     affiliate of the issuer of the securities, Grantor agrees that neither
     Grantor, nor any member of Grantor's family, nor any other person signing
     this Agreement will sell or dispose of any securities of such issuer
     without obtaining Lender's prior written consent.

     RIGHTS AND REMEDIES WITH RESPECT TO INVESTMENT PROPERTY, FINANCIAL ASSETS
     AND RELATED COLLATERAL. In addition to other rights and remedies granted
     under this Agreement and under applicable law, Lander may exercise any or
     all of the following rights and remedies: (1) register with any issuer or
     broker or other securities intermediary any of the Collateral consisting of
     investment property or financial assets (collectively herein, "investment
     property") in Lender's sole name or in the name of Lender's broker, agent
     or nominee; (2) cause any issuer, broker or other securities intermediary
     to deliver to Lender any of the Collateral consisting of securities, or
     investment property capable of being delivered; (3) enter into a control
     agreement or power of attorney with any issuer or securities intermediary
     with respect to any Collateral consisting of investment property, on such
     terms as Lender may deem appropriate, in its sole discretion, including
     without limitation, an agreement granting to Lender any of the rights
     provided hereunder without further notice to or consent by Grantor; (4)
     execute any such control agreement on Grantor's behalf and in Grantor's
     name, and hereby irrevocably appoints Lender as agent and attorney-in-fact,
     coupled with an interest, for the purpose of executing such control
     agreement on Grantor's behalf; (5) exercise any and all rights of Lender
     under any such control agreement or power of attorney; (6) exercise any
     voting, conversion, registration, purchase, option, or other rights with
     respect to any Collateral; (7) collect, with or without legal action, and
     issue receipts concerning any notes, checks, drafts, remittance or
     distributions that are paid or payable with respect to any Collateral
     consisting of investment property. Any control agreement entered with
     respect to any investment property shall contain the following provisions,
     at Lender's discretion. Lender shall be authorized to instruct the issuer,
     broker or other securities intermediary to take or to refrain from taking
     such actions with respect to the investment property as Lender may
     instruct, without further notice to or consent by Grantor. Such actions may
     include without limitation the issuance of entitlement orders, account
     instructions, general trading or buy or sell orders, transfer and
     redemption orders, and stop loss orders. Lender shall be further entitled
     to instruct the issuer, broker or securities intermediary to sell or to
     liquidate any investment property, or to pay the cash surrender or account
     termination value with respect to any and all investment property, and to
     deliver all such payments and liquidation proceeds to Lender. Any such
     control agreement shall contain such authorizations as are necessary to
     place Lender in "control" of such investment collateral, as contemplated
     under the provisions of the Uniform Commercial Code, and shall fully
     authorize Lender to issue "entitlement orders" concerning the transfer,
     redemption, liquidation or disposition of investment collateral, in
     conformance with the provisions of the Uniform Commercial Code.

     FORECLOSURE. Maintain a judicial suit for foreclosure and sale of the
     Collateral.

    TRANSFER TITLE. Effect transfer of title upon sale of all or part of the
    Collateral. For this purpose, Grantor irrevocably appoints Lender as
    Grantor's attorney-in-fact to execute endorsements, assignments and
    instruments in the name of Grantor and each of them (if more than one) as
    shall be necessary or reasonable.

     OTHER RIGHTS AND REMEDIES. Have and exercise any or all of the rights and
     remedies of a secured creditor under the provisions of the Uniform
     Commercial Code, at law, in equity, or otherwise.

     APPLICATION OF PROCEEDS. Apply any cash which is part of the Collateral, or
     which is received from the collection or sale of the Collateral, to

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                           COMMERCIAL PLEDGE AGREEMENT
                               (CONTINUED)                                PAGE 4

     reimbursement of any expenses, including any costs for registration of
     securities, commissions incurred in connection with a sale, attorneys' fees
     and court costs, whether or not there is a lawsuit and including any fees
     on appeal, incurred by Lender in connection with the collection and sale of
     such Collateral and to the payment of the Indebtedness of Grantor to
     Lender, with any excess funds to be paid to Grantor as the interests of
     Grantor may appear. Grantor agrees, to the extent permitted by law, to pay
     any deficiency after application of the proceeds of the Collateral to the
     Indebtedness.

     ELECTION OF REMEDIES. Except as may be prohibited by applicable law, all of
     Lender's rights and remedies, whether evidenced by this Agreement, the
     Related Documents, or by any other writing, shall be cumulative and may be
     exercised singularly or concurrently. Election by Lender to pursue any
     remedy shall not exclude pursuit of any other remedy, and an election to
     make expenditures or to take action to perform an obligation of Grantor
     under this Agreement, after Grantor's failure to perform, shall not affect
     Lender's right to declare a default and exercise its remedies.

FINANCIAL INFORMATION. Grantor will furnish to Lender, at Grantor's expense,
promptly upon each request of Lender, such information in writing regarding
Grantor's financial condition, income taxes, properties, business operations, if
any, and pension plans, if any, as Lender may from time to time reasonably
request, prepared, in the case of financial information, in accordance with
generally accepted accounting principles consistently applied and otherwise in
form and detail satisfactory to Lender.

SHARING INFORMATION. Grantor hereby authorizes Lender to share all credit and
financial information relating to Grantor with Lender's parent company and with
any subsidiary or affiliate of Lender or of Lender's parent company.

ADDITIONAL PROVISION. THE WORD "INDEBTEDNESS" SHALL ALSO MEAN ANY AND ALL
OBLIGATIONS AND LIABILITIES OF GRANTOR, WHETHER ABSOLUTE OR CONTINGENT, WHETHER
NOW EXISTING OR HEREAFTER CREATED, ARISING, EVIDENCED OR ACQUIRED (INCLUDING ALL
RENEWALS, EXTENSIONS AND MODIFICATIONS THEREOF AND SUBSTITUTIONS THEREFOR) UNDER
(i) ANY AGREEMENT, DEVICE OR ARRANGEMENT DESIGNED TO PROTECT GRANTOR FROM
FLUCTUATIONS OF INTEREST RATES, EXCHANGE RATES OR FORWARD RATES, INCLUDING, BUT
NOT LIMITED TO, DOLLAR-DENOMINATED OR CROSS-CURRENCY EXCHANGE AGREEMENTS
FORWARD CURRENCY EXCHANGE AGREEMENTS, INTEREST RATE CAPS, COLLARS OR FLOORS,
FORWARD RATE CURRENCY OR INTEREST RATE OPTIONS, PUTS, WARRANTS, SWAPS,
SWAPTIONS, U.S. TREASURY LOCKS AND U.S. TREASURY OPTIONS, (ii) ANY OTHER
INTEREST RATE HEDGING TRANSACTIONS, SUCH AS, BUT NOT LIMITED TO, MANAGING THE
GRANTOR'S INTEREST RATS RISK ASSOCIATED WITH ANY PENDING OR POTENTIAL CAPITAL
MARKET TRANSACTIONS SUCH AS FIXED RATE BOND ISSUES, AND (iii) ANY AND ALL
CANCELLATIONS, BUY BACKS, REVERSALS, TERMINATIONS OR ASSIGNMENTS OF ANY OF THE
FOREGOING.

MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of
this Agreement:

     AMENDMENTS. This Agreement, together with any Related Documents,
     constitutes the entire understanding and agreement of the parties as to the
     matters set forth in this Agreement. No alteration of or amendment to this
     Agreement shall be effective unless given in writing and signed by the
     party or parties sought to be charged or bound by the alteration or
     amendment.

     ATTORNEYS' FEES; EXPENSES. Grantor agrees to pay upon demand all of
     Lender's costs and expenses, including Lender's attorneys' fees and
     Lender's legal expenses, incurred in connection with the enforcement of
     this Agreement. Lender may hire or pay someone else to help enforce this
     Agreement, and Grantor shall pay the cost and expenses of such enforcement.
     Costs and expenses include Lender's attorneys' fees and legal expenses
     whether or not there is a lawsuit, including attorneys' fees and legal
     expenses for bankruptcy proceedings (including efforts to modify or vacate
     any automatic stay or injunction), appeals, and any anticipated
     post-judgment collection services. Grantor also shall pay all court costs
     and such additional fees as may be directed by the court.

     CAPTION HEADINGS. Caption headings in this Agreement are for convenience
     purposes only and are not to be used to interpret or define the provisions
     of this Agreement.

     GOVERNING LAW. THIS AGREEMENT WILL BE GOVERNED BY, CONSTRUED AND ENFORCED
     IN ACCORDANCE WITH FEDERAL LAW AND THE LAWS OF THE STATE OF OHIO. THIS
     AGREEMENT HAS BEEN ACCEPTED BY LENDER IN THE STATE OF OHIO.

     CHOICE OF VENUE. If there is a lawsuit, Grantor agrees upon Lender's
     request to submit to the jurisdiction of the courts of Franklin County,
     State of Ohio.

     NO WAIVER BY LENDER. Lender shall not be deemed to have waived any rights
     under this Agreement unless such waiver is given in writing and signed by
     Lender, No delay or omission on the part of Lender in exercising any right
     shall operate as waiver of such right or any other right. A Waiver by
     Lender of a provision of this Agreement shall not prejudice or constitute a
     waiver of Lender's right otherwise to demand strict compliance with that
     provision or any other provision of this Agreement. No prior waiver by
     Lender, nor any course of dealing between Lender and Grantor, shall
     constitute a waiver of any of Lender's rights or of any of Grantor's
     obligations as to any future transactions. Whenever the consent of Lender
     is required under this Agreement, the granting of such consent by Lender
     in any instance shall not constitute continuing consent to subsequent
     instances where such consent is required and in all cases such consent may
     be granted or withheld in the sole discretion of Lender.

     NOTICES. Any notice required to be given under this Agreement shall be
     given in writing, and shall be effective when actually delivered, when
     actually received by telefacsimile (unless otherwise required by law),
     when deposited with a nationally recognized overnight courier, or, if
     mailed, when deposited in the United States mail, as first class, certified
     or registered mail postage prepaid, directed to the addresses shown near
     the beginning of this Agreement. Any party may change its address for
     notices under this Agreement by giving formal written notice to the other
     parties, specifying that the purpose of the notice is to change the party's
     address. For notice purposes, Grantor agrees to keep Lender informed at all
     times of Grantor's current address. Unless otherwise provided or required
     by law, if there is more than one Grantor, any notice given by Lender to
     any Grantor is deemed to be notice given to all Grantors.

     SEVERABILITY. If a court of competent jurisdiction finds any provision of
     this Agreement to be illegal, invalid, or unenforceable as to any
     circumstance, that finding shall not make the offending provision illegal,
     invalid, or unenforceable as to any other circumstance. If feasible, the
     offending provision shall be considered modified so that it becomes legal,
     valid and enforceable. If the offending provision cannot be so modified, it
     shall be considered deleted from this Agreement. Unless otherwise required
     by law the illegality, invalidity, or unenforceability of any provision of
     this Agreement shall not affect the legality, validity or enforceability
     of any other provision of this Agreement.

     SUCCESSORS AND ASSIGNS. Subject to any limitations stated in this
     Agreement on transfer of Grantor's interest, this Agreement shall be
     binding upon and inure to the benefit of the parties, their successors and
     assigns. If ownership of the Collateral becomes vested in a person other
     than Grantor Lender, without notice to Grantor, may deal with Grantor's
     successors with reference to this Agreement and the indebtedness by way of
     forbearance or extension without releasing Grantor from the obligations of
     this Agreement or liability under the Indebtedness.

     TIME IS OF THE ESSENCE. Time is of the essence in the performance of this
     Agreement.

     WAIVE JURY. ALL PARTIES TO THIS AGREEMENT HEREBY WAIVE THE RIGHT TO ANY
     ANY JURY TRIAL IN ANY ACTION, PROCEEDING, OR COUNTERCLAIM BROUGHT BY ANY

<PAGE>

                           COMMERCIAL PLEDGE AGREEMENT
                               (CONTINUED)                                PAGE 5

     PARTY AGAINST ANY OTHER PARTY.

DEFINITIONS. The following capitalized words and terms shall have the following
meanings when used in this Agreement. Unless specifically stated to the
contrary, all references to dollar amounts shall mean amounts in lawful money of
the United States of America. Words and terms used in the singular shall include
the plural, and the plural shall include the singular, as the context may
require. Words and terms not otherwise defined in this Agreement shall have the
meanings attributed to such terms in the Uniform Commercial Code:

     AGREEMENT. The word "agreement" means this Commercial Pledge Agreement,
     as this Commercial Pledge Agreement may be amended or modified from time to
     time, together with all exhibits and schedules attached to this Commercial
     Pledge Agreement from time to time.

     BORROWER. The word "Borrower" means Safe Auto Group, Inc., and all other
     persons and entities signing the Note in whatever capacity.

     COLLATERAL. The word "Collateral" means all of Grantor's right, title and
     interest in and to all the Collateral as described in the Collateral
     Description section of this Agreement.

     DEFAULT. The word "Default" means the Default set forth in this Agreement
     in the section titled "Default".

     EVENT OF DEFAULT. The words "Event of Default" mean any of the events of
     default set forth in this Agreement in the default section of this
     Agreement.

     GRANTOR. The word "Grantor" means Safe Auto Group, Inc..

     GUARANTOR. The word "Guarantor" means any guarantor, surety, or
     accommodation party of any or all of the Indebtedness.

     GUARANTY. The word "Guaranty" means the guaranty from Guarantor to Lender,
     including without limitation a guaranty of all or part of the Note.

     INCOME AND PROCEEDS. The words "Income and Proceeds" mean all present and
     future income, proceeds, earnings, increases, and substitutions from or for
     the Collateral of every kind and nature, including without limitation all
     payments, interest, profits, distributions, benefits, rights, options,
     warrants, dividends, stock dividends, stock splits, stock rights,
     regulatory dividends, subscriptions, monies, claims for money due and to
     become due, proceeds of any insurance on the Collateral, shares of stock of
     different par value or no par value issued in substitution or exchange for
     shares included in the Collateral, and all other property Grantor is
     entitled to receive on account of such Collateral, including accounts,
     documents, instruments, chattel paper, and general intangible.

     INDEBTEDNESS. The word "Indebtedness" means the indebtedness evidenced by
     the Note or Related Documents, including all principal and interest
     together with all other indebtedness and costs and expenses for which
     Grantor is responsible under this Agreement or under any of the Related
     Documents.

     LENDER. The Word "Lender" means National City Bank, its successors and
     assigns.

     NOTE. The word "Note" means Promissory Note (including renewal or
     extention) now or hereafter made to Borrower by Bank.

     OBLIGOR. The word "Obligor" means without limitation any and all persons
     obligated to pay money or to perform some other act under the Collateral.

     PROPERTY. The word "Property" means all of Grantor's right, title and
     interest in and to all the Property as described in the "Collateral
     Description" section of this Agreement.

     RELATED DOCUMENTS. The words "Related Documents" mean all promissory notes,
     credit agreements, loan agreements, environmental agreements, guaranties,
     security agreements, mortgages, deeds of trust, security deeds, collateral
     mortgages, and all other instruments, agreements and documents, whether now
     or hereafter existing, executed in connection with the Indebtedness.

GRANTOR HAS READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS COMMERCIAL PLEDGE
AGREEMENT AND AGREES TO ITS TERMS. THIS AGREEMENT IS DATED February 22, 2002

GRANTOR:

SAFE AUTO GROUP, INC.

BY: /s/ Ari Deshe.
   ---------------------------------------------------------
    Ari Deshe, Chairman and CEO of Safe Auto Group, Inc.

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