Document:

EMPLOYMENT AGREEMENT

 Exhibit 10.18 
 REGIONAL DIRECTOR EMPLOYMENT AGREEMENT 
 This REGIONAL DIRECTOR EMPLOYMENT AGREEMENT
(hereinafter “Agreement”), effective             ,             , (hereinafter the “Effective Date”) is made
between HILB ROGAL & HOBBS COMPANY, a Virginia Corporation (hereinafter “Employer”), and             (hereinafter “Employee”). In consideration of
the mutual promises contained in this Agreement and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties agree as follows: 
  

	1.	CONSIDERATION FOR AND TERM OF AGREEMENT. 

 1.1.
Employment Relationship. As of the Effective Date, Employee will be jointly employed by Employer and Hilb Rogal & Hobbs Services Company, a Virginia Corporation, (hereinafter “HRH Services Company”), in accordance with the
agreement between such parties, as the Regional Director for Employer’s             (hereinafter “Employee’s Region”). Employer desires that Employee operate the
Employee’s Region, with an emphasis on maximizing the profitability of each office in the Employee’s Region, developing an exceptional sales force and culture, and supporting other corporate goals, initiatives and lines of business, all as
may be set from time-to-time by Employer. Employee shall diligently and faithfully perform such tasks, duties, and services for Employer as may be assigned to Employee by Employer from time to time upon the terms and conditions established by
Employer. Employee acknowledges that, through such employment, Employee will serve a role in the operations of Employer and Employer’s affiliates, subsidiaries, and related companies (hereinafter the “HRH Companies”) and that the
obligations contained herein are necessary to protect the legitimate interest of each such entity due to the substantial interaction of such entities. 
 1.2. Consideration. As good and valuable consideration for Employee’s entering into this Agreement, Employee shall receive the following during the Term of this Agreement and in accordance with the terms
of this Agreement and Employer’s discretion, policies, and practices: (i) continued employment upon the terms and conditions specified herein; (ii) the compensation described in Sections 1.3; (iii) Employer’s permitting
Employee access to and use of selected Confidential Information, Customer Information, and Company Information (as those terms are defined below) of Employer and the HRH Companies, which such access and use is required for the successful performance
of Employee’s duties hereunder; (iv) Employer’s permitting Employee access to selected customers and the relationships and goodwill developed therewith; (v) reimbursement for appropriate business expenses in accordance with
Employer’s reimbursement policies and practices; and (vi) the benefit of the name recognition and marketing efforts of Employer. As good and valuable consideration for Employer’s entering into this Agreement, Employee agrees:
(i) to provide loyal and quality service on behalf of Employer in accordance with the terms of this Agreement; and (ii) to comply with all terms of this Agreement, as Employer would not have entered into this Agreement or hired Employee
but for Employee’s agreement to abide by the covenants and restrictions contained in Sections 2 and 3. 
 1.3. Compensation.
Employee will be compensated pursuant to plans and policies overseen presently by the Human Resources & Compensation Committee (“Committee”) of the Board of Directors of Employer, which compensation package presently includes a
combination of salary, bonus incentives, restricted stock, nonqualified stock options and such other perks and 

  

  

			
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benefits as established by the Committee, all of which elements of compensation are subject to change from time-to-time by the Committee or the Board of
Employer. Employee acknowledges that the executive compensation and benefits that may be offered are subject to change in the discretion of Employer and the Committee and the Board of Employer and are not guaranteed to continue or to be without
change and may be terminated or altered as deemed prudent by any of the foregoing. 
 1.4. Business Ownership. All business, including
insurance, bond, risk management, self-insurance and any other services transacted through the efforts of Employee or any other employee of Employer, shall be the sole property of the Employer, and Employee acknowledges that Employee shall have no
right to any commission or fee resulting from the conduct of such business other than in the form of the compensation referred to in Section 1.3. Employee represents and agrees that Employee presently has, and will have, no ownership interest
whatsoever in accounts originated or serviced by Employee and that all such accounts shall belong solely to Employer. Premiums, commissions or fees on the business transacted through the efforts of Employee, whether received from an insured or from
one of the companies represented by Employer or Employee, are at all times the sole property of Employer. All checks or bank drafts received by Employee from any company or insured shall be made payable to Employer and all amounts collected by
Employee shall be promptly turned over to Employer. Employee covenants to cooperate with Employer, and to take all actions reasonably requested by Employer, whenever Employer attempts to verify that all income has been paid to it and whenever
Employer, before or after termination of Employee’s employment, desires to have commissions from business assigned to itself or another employee. 
 1.5. Term. This Agreement, and Employee’s employment hereunder, shall commence on the Effective Date and shall continue thereafter until terminated by either party (hereinafter the “Term”).
Either Employer or Employee may terminate this Agreement and Employee’s employment hereunder at any time and for any reason. Notwithstanding the termination of this Agreement, the parties shall be required to carry out any provisions of this
Agreement which contemplate performance by them subsequent to such termination. 
 1.6. Insider Status & Stock Ownership.
Employee will be considered an “insider” of Employer for securities law purposes and will be expected to comply with Employer’s policies and initiatives, including, without limitation, ownership of Employer stock, as may be
established from time-to-time. 
  

	2.	LOYAL SERVICE 

 2.1. No Obligations Preventing
Employment. Employee represents to Employer that Employee has no employment or other relationship with any competitor of the Employer that would restrict Employee in performing the duties contemplated herein. Employee agrees to indemnify and
hold Employer harmless from all claims and damages (including reasonable attorneys’ fees and costs) suffered by Employer or any of the HRH Companies which arise out of a breach of the foregoing representation. 
 2.2. Affirmative Obligations. During the Term of this Agreement, Employee agrees (i) to devote Employee’s full business time and
energies to the business and affairs of Employer, (ii) to use Employee’s best efforts, skills and abilities to promote the interests of the Employer, and (iii) to perform faithfully and to the best of Employee’s ability all
assignments of work given to Employee by 

  

  

			
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Employer. Employee’s duties shall be performed at Employer’s direction and at places Employer requires. Employee shall make full and prompt written
disclosure to Employer of any business opportunity of which Employee becomes aware and which relates to the business of Employer. Employee shall comply with all Employer and HRH rules, procedures, and standards governing the conduct of employees and
their access to and use of property, equipment, facilities, and Confidential Information, Customer Information, and Company Information. 
 2.3. Duty of Loyalty. Employee acknowledges that, during Employee’s employment with Employer, Employee owes a duty of loyalty to Employer to act in the Employer’s best interests. In addition to the covenants and
restrictions contained herein and any common law duties owed by Employee to Employer, Employee, during Employee’s employment with Employer, shall not, either directly through Employee’s own actions or indirectly through an agent or other
person acting on behalf of Employee or under the supervision or direction of Employee: (i) undertake any business activity competitive with Employer or the planning, organization, or preparation of any business activity competitive with
Employer; (ii) enter into or engage in any other business activity or other gainful employment without the prior written consent of Employer; (iii) divert any business opportunity related to Employer’s business from Employer;
(iv) fail to disclose any information which may be valuable to Employer’s business interests; (v) communicate with any customer of Employer or any of the HRH Companies regarding Employee’s termination of employment with Employer
or Employee’s working for any competitor of Employer; (vi) communicate with any customer of Employer or any of the HRH Companies with the purpose or intent of encouraging such customer to terminate or curtail in any manner their business
relationship with Employer or move any portion of their business from Employer to a competitor; or (vii) solicit for hire, hire, or assist in the solicitation for hire or hiring of any employee of Employer or any of the HRH Companies.

 2.4. Protection of Information and Property. During the Term of this Agreement, Employee shall protect and safeguard the
Confidential Information (as defined in Section 3.2), Customer Information (as defined in Section 2.5), Company Information (as defined in Section 2.6), and other property of Employer and the HRH Companies and shall not, either
directly through Employee’s own actions or indirectly through an agent or other person acting on behalf of Employee or under the supervision or direction of Employee, except as may be required during the course of Employee’s performing
duties for the benefit of Employer: (i) use for Employee’s own account or for the account of any other person or entity any Confidential Information, Customer Information, Company Information, or property of Employer or any of the HRH
Companies; (ii) disclose, disseminate, communicate, convey, or divulge to any third party any Confidential Information, Customer Information, Company Information, or property of Employer or any of the HRH Companies; (iii) solicit or
communicate with any customer of Employer or any of the HRH Companies through the use or disclosure of any Confidential Information, Customer Information, Company Information, or property of Employer or any of the HRH Companies; (iv) utilize
any Confidential Information, Customer Information, Company Information, or property of Employer or any of the HRH Companies in the provision of any products or services to any customer of Employer or any of the HRH Companies; or (v) solicit
for hire, hire, or assist in the solicitation for hire or hiring of any employee of Employer or any of the HRH Companies through the use or disclosure of any Confidential Information, Customer Information, Company Information, or property of
Employer or any of the HRH Companies. Nothing herein shall limit Employer’s right to protect any trade secret information under applicable state law for as long as such information remains a trade secret under such applicable law. 

 

  

			
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 2.5. Customer Information. For purposes of this Agreement, the term “Customer
Information” shall mean all information regarding or relating to any customer or prospective customer collected, compiled, maintained, or created by Employer or any of the HRH Companies. “Customer Information” shall include, but shall
not be limited to, customer identities and lists; revenues from customers’ accounts; customer requirements; customer contact personnel information; customer financial data; customer renewal dates; information collected for any customer; and
information collected or developed by Employer about any prospective customer. 
 2.6. Company Information. For purposes of this
Agreement, the term “Company Information” shall mean all information regarding or relating to the methods of soliciting business, methods of conducting business, financial data, business plans, business strategies, marketing programs,
personnel, business relationships, and agreements of Employer or any of the HRH Companies. 
 2.7. Return of Information &
Property. No later than the effective date of the termination of Employee’s employment, Employee covenants to deliver to Employer all information, documents, computer or electronic files, and materials, including personal notes and
reproductions and copies, containing or relating to any Confidential Information, Company Information, or Customer Information and all other property of Employer or the HRH Companies which is in Employee’s possession or control. If Employer
reasonably believes that Employee has sent, transferred, or stored any Confidential Information, Customer Information, or Company Information to any electronic device or medium which can be used to save documents or information (including but not
limited to any computer, Blackberry, cellular telephone, fax machine, CD-ROM, memory stick, zip drive, computer disk, email account, or electronic database) and which Employee does not deliver to Employer prior to the effective date of
Employee’s termination, Employer may, at its sole discretion and at any time it so elects during the Restricted Period, search any such device and/or medium for any such documents or information and remove such documents and/or information from
any such device and/or medium, and Employee hereby expressly consents to such search and removal. 
 2.8. Proprietary Rights. All
rights, including without limitation any writing, discoveries, inventions, innovations, and computer programs and related documentation and all intellectual property rights therein, including without limitation copyright (collectively
“Intellectual Property”) created, designed or constructed by Employee during the Employee’s term of employment with Employer, that are related in any way to Employee’s work with Employer or to any of the services provided by
Employer shall be the sole and exclusive property of Employer. Employee agrees to deliver and assign to Employer all such Intellectual Property and all rights which Employee may have therein and Employee agrees to execute all documents or, including
without limitation patent applications, and make all arrangements necessary to further document such ownership and/or assignment and to take whatever other steps may be needed to give Employer the full benefit thereof. Without limitation to the
foregoing, Employee specifically agrees that all copyrightable materials generated during the term of Employee’s employment with Employer, including but not limited to, computer programs and related documentation, that are related in any way to
Employee’s work with Employer or to any of the services provided by Employer shall be considered works made for hire under the copyright laws of the United States and shall upon creation be owned exclusively by Employer. To the extent that any
such materials, under applicable law, may not be considered works made 

  

  

			
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for hire, Employee hereby assigns to Employer the ownership of all copyrights in such materials, without the necessity of any further consideration, and
Employer shall be entitled to register and hold in its own name all copyrights in respect of such materials. The provisions of this section shall apply regardless of whether any activities related to the creation of any Intellectual Property took
place inside or outside of Employer’s working hours. 
 2.9. Litigation Cooperation. Employee hereby agrees that, when requested
by Employer, Employee shall cooperate fully with Employer, HRH, and/or any of the HRH Companies in the defense or prosecution of any claims now in existence or which may be brought or threatened in the future against or on behalf of Employer, HRH,
and/or any of the HRH Companies which relate in any manner to any event that transpired while Employee was employed by Employer or to any event in which Employee was directly involved. Employee’s full cooperation in connection with such claims
or actions shall include, but not be limited to, Employee’s being available to speak and/or meet with counsel to answer any questions or prepare for trial or discovery; Employee’s assisting in connection with any audit, inspection,
proceeding or inquiry; Employee’s acting as a witness in connection with litigation; and Employee’s cooperating with any auditor or government agent. 
  

	3.	PROTECTION OF CONFIDENTIAL INFORMATION AND VALUABLE ASSETS 

 3.1. Recitals. Employee has been provided with and will continue to be provided with the means to access Confidential Information and customer relationships and goodwill belonging to Employer and/or the HRH Companies and developed
and maintained through their efforts and expense. Employee acknowledges that the continued success of the business of Employer and the HRH Companies depends in large part upon the protection of Confidential Information and retention of such customer
relationships, and Employee agrees that the following covenants are reasonably necessary for the protection of its legitimate business interests, including but not limited to the protection of its trade secrets, valuable confidential business and
professional information, substantial relationships with prospective and existing customers, customer goodwill associated with its on-going business. 
 3.2. Confidential Information. For purposes of this Agreement, the term “Confidential Information” shall mean any trade secret (as that term is defined under the state law governing this Agreement) of
Employer or any of the HRH Companies, and any information disclosed to or learned by Employee or known to Employee as a consequence of or through Employee’s employment with Employer regarding Employer, any of the HRH Companies, or any customer
of Employer or any of the HRH Companies, that (i) is not generally known by the public through lawful means; (ii) was treated as confidential by Employer or any of the HRH Companies, whether by explicit designation, restriction of access,
or other means; or (iii) was regarded or treated as proprietary by Employer or any of the HRH Companies. Confidential Information shall not include any such information that has been voluntarily disclosed to the public by a duly authorized
representative of Employer, independently developed and disclosed by others, or otherwise enters the public domain through lawful means. Confidential Information, however, shall include, but shall not be limited to, all Customer Information and
Company Information which meet the above definition for “Confidential Information.” 
  

  

			
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 3.3. Restricted Period. For purposes of this Agreement, the term “Restricted Period”
shall mean the period of twenty-four (24) months after the termination of Employee’s employment with Employer, regardless of the reason for such termination. 
 3.4. Prohibited Services. For purposes of this Agreement, the term “Prohibited Services” shall mean all brokerage, risk management, insurance, employee benefits, and consulting services that are
similar to those services provided, during the two (2) year period preceding the termination of Employee’s employment with Employer (herein the “Relevant Period”), by Employer or any of the HRH Companies located within
Employee’s Region for which Employee was responsible during the Relevant Period and competitive with those services provided, at the time of the relevant violation of Section 3.7, 3.9, or 3.10, by Employer or any of the HRH Companies
located in Employee’s Region for which Employee was responsible during the Relevant Period. 
 3.5. Restricted Area. For purposes
of this Agreement, the term “Restricted Area” shall mean the geographic area composed of all states located within the United States. Employee agrees that, due to the national and international scope of Employer’s operations and
Employee’s position with Employer, the “Restricted Area” need include all states within the United States and that a defined geographic limitation is not necessary for the restrictions contained in Sections 3.9 and 3.10 due to the
substantial connection with and/or knowledge about the Known Customers and Confidential Customers to which such restrictions are limited and the inherent geographic limitation associated with the location of such Known Customers and Confidential
Customers. 
 3.6. Prohibited Use or Disclosure of Confidential Information. During the Restricted Period, Employee shall not, either
directly through Employee’s own actions or indirectly through an agent or other person acting on behalf of Employee or under the supervision or direction of Employee: (i) use for Employee’s own account or for the account of any other
person or entity any Confidential Information; (ii) disclose, disseminate, communicate, or divulge to any third party any Confidential Information; (iii) solicit any Active Customer through the use or disclosure of any Confidential
Information; (iv) utilize any Confidential Information in the provision of any products or services to any Active Customer; or (v) solicit for hire, hire, or assist in the solicitation for hire or hiring of any employee of Employer or any
of the HRH Companies through the use or disclosure of any Confidential Information. Nothing herein shall limit Employer’s right to protect any trade secret information under applicable state law for as long as such information remains a trade
secret under applicable law. 
 3.7. Non-Solicitation of Active Customers. During the Restricted Period, Employee shall not, either
directly through Employee’s own actions or indirectly through an agent or other person acting on behalf of Employee or under the supervision or direction of Employee, within the Restricted Area: (i) solicit any Active Customer for the
purpose of selling or providing any Prohibited Services to such Active Customer; (ii) provide any Prohibited Services to any Active Customer; (iii) accept an invitation to sell or provide any Prohibited Services to any Active Customer; or
(iv) induce or attempt to induce any Active Customer to curtail or terminate any business relationship with Employer or any of the HRH Companies. For purposes of this Agreement, the term “Active Customer” shall mean any individual or
entity that any of the HRH Companies located with Employee’s Region for which Employee was responsible as Regional Director, both at any time during Employee’s employment with Employer and at any time during the twelve (12) month
period preceding the relevant act in violation of this Section 3.7, either (1) placed one or more lines of insurance or bonds for or on behalf of, or (2) has provided any products or services to or on behalf of. 
  

  

			
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 3.8. Non-Piracy of Workers. During the Restricted Period, Employee shall not, either directly
through Employee’s own actions or indirectly through an agent or other person acting on behalf of Employee or under the supervision or direction of Employee, solicit for hire, initiate contact with for the purpose of soliciting for hire, hire,
or assist any other person or entity in the solicitation or hiring of any Worker. For purposes of this Agreement, “Worker” shall mean any individual (i) who, during the Term of this Agreement, was an employee of any of the HRH
Companies located within Employee’s Region for which Employee was responsible as Regional Director or was an employee of Employer, HRH, or any of the HRH Companies whom Employee, during the Relevant Period, had any material contact or
communications with, worked with, or supervised or was responsible for managing; and (ii) who was an employee of Employer, HRH, or any of the HRH Companies at any time during the three (3) month period preceding the relevant act in
violation of this Section. 
 3.9. Non-Piracy of Confidential Customers. During the Restricted Period, Employee shall not, either
directly through Employee’s own actions or indirectly through an agent or other person acting on behalf of Employee or under the supervision or direction of Employee, (i) solicit any Confidential Customer for the purpose of selling or
providing any Prohibited Services to such Confidential Customer; (ii) provide any Prohibited Services to a Confidential Customer; (iii) accept an invitation to sell or provide any Prohibited Services to a Confidential Customer; or
(iv) induce or attempt to induce any Confidential Customer to curtail or terminate any business relationship with Employer or any of the HRH Companies. For purposes of this Agreement, the term “Confidential Customer” means
(i) any individual or entity that Employer or any of the HRH Companies, both at any time during Employee’s employment with Employer and at any time during the twelve (12) month period preceding the relevant act in violation of this
Section 3.9, either placed one or more lines of insurance or bonds for or on behalf of or has provided any products or services to or on behalf of, provided that Employee, during the Relevant Period, learned or obtained any Confidential
Information about such individual or entity and (ii) any prospective customer that HRH or any of the HRH Companies met with or provided a written proposal to, within six (6) months of Employee’s employment with Employer ending, for
the purpose of offering any Prohibited Services, provided that Employee learned information about such meeting or proposal through Employee’s employment with Employer. 
 3.10. Non-Piracy of Known Customers. During the Restricted Period, Employee shall not, either directly through Employee’s own actions or
indirectly through an agent or other person acting on behalf of Employee or under the supervision or direction of Employee, (i) solicit any Known Customer for the purpose of selling or providing any Prohibited Services to such Known Customer;
(ii) provide any Prohibited Services to a Known Customer; (iii) accept an invitation to sell or provide any Prohibited Services to a Known Customer; or (iv) induce or attempt to induce any Known Customer to curtail or terminate any
business relationship with Employer or any of the HRH Companies. For purposes of this Agreement, the term “Known Customer” means (i) any individual or entity that Employer or any of the HRH Companies, both at any time during
Employee’s employment with Employer and at any time during the twelve (12) month period preceding the relevant act in violation of this Section 3.10, either placed one or more lines of insurance or bonds for or on behalf of or has
provided any products or services to or on behalf of, provided that Employee, during the Relevant Period, either had material personal contact or communications with as part of Employee’s performing duties on behalf of 

  

  

			
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Employer or assisted in or was responsible for, either alone or with others, placing coverage for, soliciting business from, and/or otherwise providing any
services to such individual or entity and (ii) any prospective customer that HRH or any of the HRH Companies met with or provided a written proposal to, within six (6) months of Employee’s employment with Employer ending, for the
purpose of offering any Prohibited Services, provided that Employee assisted in or was responsible for, either alone or with others, soliciting business from, preparing or reviewing the proposal for, meeting with, or preparing for the meeting with
such prospective customer. 
 3.11. Importance of Covenants. Employee acknowledges and agrees that Employee’s engaging in any of
the acts prohibited by Section 3.6, 3.7, 3.8, 3.9, or 3.10 would inevitably involve the use and disclosure of Confidential Information and that the obligations set forth in these Sections are necessary and appropriate to protect against the
unauthorized use and disclosure of such Confidential Information and the goodwill and relationships that Employer has established with such customers and with which Employee is entrusted as a custodian through Employee’s position with Employer.
The restrictive covenants from Employee set forth herein are essential to Employer’s agreeing to employ Employee and each such covenant shall be construed as independent of any other provision in this Agreement. The existence of any claim or
cause of action of the Employee against the Employer, whether predicated on this Agreement or not, shall not constitute a defense to the enforcement by the Employer of any of the restrictive covenants contained herein. Employer shall at all times
maintain the right to seek enforcement of these provisions whether or not Employer has previously refrained from seeking enforcement of any such provision as to Employee or any other individual who has signed an agreement with similar provisions.

 3.12. PRAYER FOR REFORMATION. EACH OF EMPLOYER AND EMPLOYEE KNOWINGLY AND VOLUNTARILY REQUESTS THAT ANY COURT OR ARBITER BEFORE
WHOM THIS EMPLOYMENT AGREEMENT IS IN CONTROVERSY REFORM THE RESTRICTIVE COVENANTS HEREIN, IF SUCH REFORMATION IS NECESSARY TO MAKE ANY OF THEM ENFORCEABLE, TO THE MAXIMUM LEVEL OF ENFORCEMENT PERMISSIBLE TO EMPLOYER AND EQUITABLE UNDER THE
CIRCUMSTANCES. THIS PROVISION IS A MATERIAL INDUCEMENT FOR EMPLOYER TO ENTER INTO THIS AGREEMENT. 
 3.13. Notification of New
Employer. During the Restricted Period, Employee shall notify any prospective employer or joint venturer, which is a competitor of Employer, of this Agreement and the covenants and restrictions therein prior to accepting employment or entering
into any business venture with such competitor; and if Employee accepts employment or establishes a relationship with such competitor, Employee covenants to notify Employer immediately of such relationship. If Employer reasonably believes that
Employee is affiliated or employed by or with a competitor of Employer during the Restricted Period, then Employee grants Employer the right to forward a copy of this Agreement to such competitor and any Active Customer. 
 3.14. Remedies. If Employee breaches any provision of this Agreement, each of Employer and the HRH Companies reserves the right to avail itself of
any remedy available to it at law or in equity. Employer and the HRH Companies shall be entitled to injunctive relief against Employee for any violation by Employee of this Agreement. Notwithstanding the foregoing, Employer may, at its sole option,
seek liquidated damages with respect to each Active Customer, Known Customer, or Confidential Customer procured by or 

  

  

			
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through the use of Confidential Information in violation of Section 3.6 of this Agreement; by or through Employee in violation of Section 3.7, 3.9,
or 3.10 of this Agreement; by or through any Worker solicited or hired in violation of Section 3.8 of this Agreement; or as a direct or indirect result of any violation of Section 2.3 or 2.4 of this Agreement (with such Active Customers,
Confidential Customers, and Known Customers being hereafter referred to as “Lost Customers”). A Lost Customer shall be valued at 175% of the gross revenue to Employer in the most recent twelve (12) month period preceding the date of
loss of such account. If such Lost Customer had not been a customer of Employer for an entire twelve (12) month period, such liquidated damages shall be 175% of the gross revenue which would have been, in the absence of a breach by Employee,
realized by Employer in the initial twelve (12) month period of such customer being served by Employer. Employee shall pay such liquidated damages to Employer within five (5) business days of Employer’s first written demand for the
payment of such liquidated damages. Thereafter, such liquidated damages shall bear interest at the maximum lawful rate. Employee acknowledges that it would be difficult to calculate the full extent of damages incurred by Employer in the event of
such a breach; that an industry rule of thumb for the valuation of an account is 175% of revenue generated for the prior twelve months; and that such liquidated damages are a fair and reasonable valuation of the harm suffered and are not out of
proportion with the actual harm suffered. Employer may or may not choose to exercise this liquidated damages provision and may, at its sole option, seek injunctive relief with respect to some Lost Customers and liquidated damages with respect to
other Lost Customers. Employee has no right whatsoever to force Employer to exercise this liquidated damages provision, as such choice remains entirely Employer’s. Employee agrees that the foregoing remedies shall be cumulative and not
exclusive, shall not be waived by any partial exercise or nonexercise thereof and shall be in addition to any other remedies available. 
  

	4.	INTERPRETATION AND ADMINISTRATION 

 4.1.
Severability. If any provision of this Agreement or any part of any provision of this Agreement is determined to be unenforceable for any reason whatsoever, it shall be severable from the rest of this Agreement and shall not invalidate or
affect the other portions or parts of the Agreement, which shall remain in full force and effect and be enforceable according to their terms. Furthermore, no covenant herein shall be dependent upon any other covenant or provision herein, each of
which covenants shall stand independently and be enforceable without regard to the other or to any other provision of this Agreement. 
 4.2.
Interpretation. There shall be no presumption that this Agreement is to be construed against the Employer, since Employee acknowledges that Employee understands all provisions of this Agreement, that the restrictive covenants contained herein
are ancillary to an enforceable agreement and are fair, necessary for the protection of Employer and relatively standard to the insurance agency industry and that Employee was offered the opportunity to negotiate, alter, and amend any and all
provisions of this Agreement before executing this Agreement and legally binding himself hereto. 
 4.3. Governing Law and Forum
Selection. This Agreement shall be construed under and governed by the laws of the Commonwealth of Virginia. The sole and exclusive jurisdiction for any legal action, suit, or proceedings arising out of this Agreement
or concerning its interpretation, construction, application, or enforcement shall be a court of competent jurisdiction for Henrico County, Virginia (hereinafter the “Proper Courts”). The parties hereby irrevocably agree to submit to the
jurisdiction of all of 

  

  

			
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the Proper Courts for the purpose of any legal action, suit, or proceedings arising out of this Agreement or concerning its interpretation, construction,
application, or enforcement. Employee warrants and agrees that, through Employee’s Employment with Employer, Employee has a substantial connection to the above-referenced state of the governing law. To the extent permitted by law, the parties
further hereby agree to waive and not to assert as a defense in any action, suit, or proceeding covered by this Section that (1) any of the Proper Courts cannot exercise personal jurisdiction over a party; (2) any party is immune from
extraterritorial injunctive relief or other injunctive relief; (3) any action, suit or proceeding covered by this Section may not be maintained in any of the Proper Courts; (4) any action, suit or proceeding covered by this Section brought
in any of the Proper Courts should be dismissed or transferred on the grounds of forum non conveniens; (5) any action, suit, or proceeding covered by this Section should be stayed by the pendency of any other action, suit, or proceeding
in any court or tribunal other than the Proper Courts; or (6) this Agreement may not be enforced in or by any of the Proper Courts. 
 4.4. WAIVER OF JURY TRIAL. TO THE EXTENT PERMITTED BY LAW, THE PARTIES WAIVE TRIAL BY JURY FOR ANY DISPUTES ARISING OUT OF AND IN CONNECTION WITH THIS AGREEMENT OR EMPLOYEE’S EMPLOYMENT WITH EMPLOYER. 
 4.5. Succession and Assignment. This Agreement shall be binding upon the parties hereto and is not assignable by Employee. This Agreement shall
inure, however, to the benefit of Employer’s successors and assigns, including, without limitation, successor corporations by way of merger or consolidation or any entity which purchases substantially all of the assets of Employer. Employer
shall retain the sole right to assign, and Employee hereby consents to the assignment of, any of its rights, duties, obligations, or benefits hereunder to HRH, any of the HRH Companies, or any successor or purchaser of any of the assets or any
ownership interest of Employer. 
 4.6. Attorneys’ Fees. In the event that either party prevails in any legal action to enforce
any of the terms and conditions of this Agreement, such party shall be entitled to, as contractual damages hereunder for any breach of this Agreement and in addition to any other remedies available for such breach, all reasonable fees and costs,
including attorneys’ fees, incurred by such party to enforce such terms and conditions of this Agreement. 
 4.7. Nonwaiver and
Entire Agreement. The waiver by Employer of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any subsequent breach or as a waiver of any other provisions of this Agreement. This Agreement supersedes
any prior written or unwritten agreement, representation or understanding between the Employer and Employee and represents the entire agreement, representations and understanding between Employer and Employee concerning Employer’s employment of
Employee. 
 [SIGNATURE PAGE FOLLOWS] 
  

  

			
	Regional Director Employment Agreement	 	Page 10 of 11

 IN WITNESS WHEREOF, Employer has caused this Agreement to be signed by its duly authorized agent,
and Employee has hereunto set Employee’s hand below acknowledging Employee’s intent to be bound by the terms and conditions set forth herein. 
  

							
	EMPLOYER:	 		 	EMPLOYEE:
			
	HILB ROGAL & HOBBS COMPANY	 		 	  

				
	By:	 	  
	 		 	  

	Name:	 	  
	 		 	
	Its:	 	  
	 		 	

  

  

			
	Regional Director Employment Agreement	 	Page 11 of 11EXHIBIT 10.29

 Exhibit 10.29 
 Employee: 
 You have been granted a Non-Qualified Stock Option to purchase
                     shares of Common Stock of the Company, subject to the terms and conditions (i) in the Company’s 2007 Stock
Incentive Plan, as amended from time to time (the “Plan”), and (ii) as set forth in Exhibit A, attached hereto and made a part hereof (together with this letter, the “Agreement”), as follows: 
  

							
	Date of Agreement/ Grant:	  	[grant date]	  		  	
	Restricted Shares Granted:	  	[number of options granted]	  		  	
	Expiration Date:	  	[to be determined]	  		  	
	Vesting Schedule:	  	25% per year for 4 years	  		  	

 Please indicate your acceptance by executing two (2) original copies of this Agreement and returning one (1)
original copy by U.S. Mail to Cindy Freeze. 
  

	
	Very truly yours,
	
	Martin L. Vaughan, III

 By my signature below, I hereby acknowledge receipt of this Award on the date shown above, which has been
issued to me under the terms and conditions of the Plan. I further acknowledge receipt of the copy of the Plan and agree to conform to all of the terms and conditions of the Award and the Plan. 
  

											
	Signature:	 	  
	 		 	Date:	 	  
	 	
						
		 	Optionee’s Name	 		 		 		 	

 Note: If there are any discrepancies in the name or address shown above, please make the appropriate corrections
on this form. 

 EXHIBIT A 
 TERMS AND CONDITIONS 
 STOCK OPTION AGREEMENT 
 1. Exercise of Option. Except as provided in paragraphs 4, 5, 6, 11 and 12 of these Terms and Conditions, this Option shall be exercisable as set
forth in the Vesting Schedule for each full year, up to a total of four (4) full years, that Optionee continues to be employed by the Company after the date of this Agreement. Once this Option has become exercisable with respect to any portion
of the total number of shares in accordance with the preceding sentence, it shall continue to be exercisable with respect to such shares until the termination of Optionee’s rights hereunder pursuant to paragraphs 4, 5 or 6, or until the
Expiration Date. A partial exercise of this Option shall not affect Optionee’s right to exercise subsequently this Option with respect to the remaining shares that are exercisable, subject to the conditions of the 2007 Stock Incentive Plan
(Plan) and this Agreement. 
 2. Method of Exercising and Payment for Shares. This Option may be exercised only by written notice
delivered to the attention of the Company’s Secretary at the Company’s principal office. The written notice shall specify the number of shares being acquired pursuant to the exercise of the Option when such Option is being exercised in
part in accordance with the Vesting Schedule. The exercise date shall be the date such notice is received by the Company. Such notice shall be accompanied by payment of the Option price in full for each share (a) in cash (United States dollars)
or by cash equivalent acceptable to the Company, or (b) by a cashless exercise pursuant to Section IX(2) of the Plan. 
 3.
Transferability. 
 (a) Except as otherwise provided in paragraph 3(b), the Option is not transferable and during the
Participant’s life, may be exercised only by the Participant. Transfers at death are governed by paragraph 4 below. 
 (b) The
Participant may transfer the Option during his or her lifetime for no consideration to or for the benefit of the Participant’s Immediate Family, subject to such limits as the Committee may establish, and the transferee shall remain subject to
all the terms and conditions applicable to the Option prior to such transfer. The foregoing right to transfer the Option shall apply to the right to consent to amendments to this Agreement and, in the discretion of the Committee, shall also apply to
the right to transfer ancillary rights associated with the Option. 
 (c) The term “Immediate Family” shall mean Participant’s
child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships, any person
sharing the Participant’s household (other than a tenant or employee), a trust in which these persons have more than fifty percent of the beneficial interest, a foundation in which these persons (or the Participant) control the management of
assets, and any other entity in which these persons (or the Participant) own more than fifty percent of the voting interests. The following transactions are not prohibited transfers for consideration: (i) a transfer under a domestic relations
order in settlement of marital property rights; and (ii) a transfer to an entity in which more than fifty percent of the voting interests are owned by the Immediate Family (or the Participant) in exchange for an interest in that entity.

 4. Exercise in the Event of Death. This Option shall be exercisable in full in the event that Optionee dies while employed by the
Company or an Affiliate and prior to the Expiration Date of this Option. In that event, this Option may be exercised by Optionee’s estate, or the person or persons to whom his rights under this Option shall pass by will or the laws of descent
and distribution. Optionee’s estate or such persons must exercise this Option, if at all, within one year of the date of Optionee’s death or during the remainder of the period preceding the Expiration Date, whichever is shorter, but in no
event may the Option be exercised prior to the expiration of six (6) months from the date of the grant of the Option. 

 5. Exercise in the Event of Permanent and Total Disability. This Option shall be exercisable in
full if Optionee becomes Disabled while employed by the Company or an Affiliate and prior to the Expiration Date of this Option. In that event, Optionee must exercise this Option, if at all, within one year of the date he becomes Disabled or during
the remainder of the period preceding the Expiration Date, whichever is shorter, but in no event may the Option be exercised prior to the expiration of six (6) months from the date of the grant of the Option. 
 6. Exercise After Termination of Employment. In the event that the Optionee retires from employment with the Company after attaining age 62 and
serving at least 10 consecutive years with the Company or an Affiliate or predecessor thereof, then this Option shall be exercisable in full but must be exercised by the Optionee, if at all, within one year following his retirement date or during
the remainder of the period preceding the Expiration Date, whichever is shorter, but in no event may the Option be exercised prior to the expiration of six (6) months from the date of the grant of the Option. In all events other than those
events addressed in paragraphs 4 or 5 or the foregoing sentence of this paragraph 6, in which Optionee ceases to be employed by the Company: (a) Optionee, subject to the provisions of paragraph 12, may exercise the Option in whole or in part
with respect to that number of shares which are exercisable by him under the Vesting Schedule on the date his employment terminated, and (b) this Option must be exercised by Optionee, if at all, within ninety (90) days following the date
upon which he ceases to be employed by the Company or during the remainder of the period preceding the Expiration Date, whichever is shorter, but in no event may the Option be exercised prior to the expiration of six (6) months from the date of
the grant of the Option. 
 7. Fractional Shares. Fractional shares shall not be issuable hereunder, and when any provision hereof may
entitle Optionee to a fractional share such fraction shall be disregarded. 
 8. No Right to Continued Employment. This Option does
not confer upon Optionee any right with respect to continuance of employment by the Company or an Affiliate, nor shall it interfere in any way with the right of the Company or an Affiliate to terminate his employment at any time. 
 9. Investment Representation. Optionee agrees that, unless such shares previously have been registered under the Securities Act of 1933, as
amended (the “Securities Act”): (i) any shares purchased by him hereunder will be purchased for investment and not with a view to distribution or resale and (ii) until such registration, certificates representing such shares may
bear an appropriate legend to assure compliance with the Securities Act. This investment representation shall terminate when such shares have been registered under the Securities Act. 
 10. Change in Capital Structure. Subject to any required action by the shareholders of the Company, the number of shares of Common Stock covered
by this Option, and the price per share thereof, shall be proportionately adjusted by the Company for any increase or decrease in the number of issued and outstanding shares of Common Stock of the Company resulting from any stock dividend (but only
on the Common Stock), stock split, combination, reclassification, recapitalization or general issuance to holders of Common Stock of rights to purchase Common Stock at substantially below its then fair market value, or any change in the number of
such shares outstanding effected without receipt of cash or property or labor or services by the Company, or any spin-off or other distribution of assets to shareholders. 
 In the event of a change in the Common Stock of the Company as presently constituted, which is limited to a change of all or a part of its authorized shares without par value into the same number of shares with a par
value, or any subsequent change into the same number of shares with a different par value, the shares resulting from any such change shall be deemed to be the Common Stock within the meaning of the Plan. 
 The grant of this Option pursuant to the Plan shall not affect in any way the right or power of the Company to make adjustments, reclassifications,
reorganizations or changes of its capital or business structure or to merge or to consolidate or to dissolve, liquidate or sell, or transfer all or any part of its business or assets. 

 11. Change of Control. Notwithstanding any other provision of this Agreement to the contrary, in
the event of a Change of Control, the provisions of Section 12.03 of the Plan shall apply to this Option. 
 12. Forfeiture of
Certain Gains. 
 (a) Termination for Cause. If Optionee’s employment is terminated for “Cause” within one year of
any exercise of this Option, in whole or in part, the Optionee shall pay to the Company an amount equal to the gain realized by Optionee from such exercise represented by the excess of the Fair Market Value on the date of exercise over the Option
price multiplied by the number of shares purchased, without regard to any subsequent market price increase or decrease (“Option Gain”). For purposes of this paragraph, “Cause” shall have the meaning ascribed to it in any
employment agreement between the Optionee and the Company that is in effect at the time of termination and, if no such agreement exists, it shall mean: 
 (i) the willful and continued failure of the Optionee to perform substantially the Optionee’s duties with the Company or one of its affiliates (other than any such failure resulting from incapacity due to
physical or mental illness), after a written demand for substantial performance is delivered to the Optionee by the Company which specifically identifies the manner in which the Company believes that the Optionee has not substantially performed the
Optionee’s duties, or 
 (ii) the willful engaging by the Employee in illegal conduct or gross misconduct which is materially and
demonstrably injurious to the Company. 
 (b) Forfeiture if Optionee Engages in Certain Activities. If Optionee, between the date
hereof and one year after the date of termination of Optionee’s employment, engages in any activity in competition with any activity of the Company, or inimical, contrary or harmful to the interests of the Company, including but not limited to
(i) accepting employment with or serving as a consultant advisor or in any other capacity to an employer that is in competition with or acting against the interests of the Company, (ii) disclosing or misusing any confidential information
or material concerning the Company or (iii) participating in any hostile takeover attempt, then (1) this Option, including any vested but unexercised shares, shall terminate effective the date on which Optionee enters into such activity,
unless terminated sooner by operation of another term or condition of this Agreement or the Plan, and (2) the Optionee shall pay to the Company an amount equal to the Option Gain realized by Optionee from any exercise of this Option, in whole
or in part, within one year of the date such activity began. 
 (c) Right of Set-off. Optionee hereby consents to a deduction from any
amounts owed by the Company to Optionee from time to time (including amounts owed as wages or other compensation, fringe benefits or vacation pay, to the extent of any amounts Optionee owes the Company under paragraphs 12(a) and (b). Whether or not
the Company elects to make any set-off in whole or in part, if Company does not recover by means of set-off the full amount owed by Optionee under paragraphs 12(a) and (b), Optionee agrees to immediately pay the unpaid balance to the Company.

 13. Governing Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the Commonwealth
of Virginia, except to the extent that federal law shall be deemed to apply. 
 14. Conflicts. In the event of any conflict between
the provisions of the Plan as in effect on the date hereof and the provisions of this Agreement, the provisions of the Plan shall govern. All references herein to the Plan shall mean the Plan as in effect on the date hereof. 
 15. Optionee Bound by Plan. Optionee hereby acknowledges receipt of a copy of the Plan and agrees to be bound by all the terms and provisions
thereof. 

 16. Binding Effect. Subject to the limitations stated above and in the Plan, this Agreement shall
be binding upon and inure to the benefit of the legatees, distributes, and personal representatives of Optionee and the successors of the Company. 
 17. Gender. All pronouns used herein shall be deemed to refer to either the male or female as appropriate. 
 18. Notice
and Consent to Electronic Delivery. The Company expects to deliver notices and certain documents relating to its employee benefit plans by posting the information on the Company’s web site, intranet or electronic bulletin board or
transmitting the material to employees by e-mail. These documents include employee benefits plans and any amendments thereto, election forms, prospectuses, supplements to prospectuses, annual reports to shareholders, informational brochures and
similar information. The Company will provide you with e-mail notification of the posting of any of the foregoing documents. This method of notification and access to documents relating to employee benefit plans will be in lieu of paper
delivery of the same documents. To satisfy legal requirements, your signature is an affirmative election to accept electronic notification and delivery of these documents in lieu of paper delivery, as well as all other terms of the award.

 19. Defined Terms. All terms used herein that are defined in the Plan shall have the meanings given to them in the Plan.

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