Document:

Exhibit 10.3 NEW

     

    Exhibit
      10.3

    
 

    INCREMENTAL
      TERM LOAN COMMITMENT AGREEMENT

     

    JPMorgan
      Chase Bank, N.A.

     

    USI
      Holdings Corporation

    555
      Pleasantville Road

    Suite
      160
      South

    Briarcliff
      Manor, NY 10510

    

    Re:
      Incremental
      Term Loan Commitments

     

    Ladies
      and
      Gentlemen:

     

    Reference
      is hereby made to the Credit Agreement, dated as of March 24, 2006, among USI
      Holdings Corporation (the "Borrower"),
      the
      lenders from time to time party thereto (the "Lenders")
      and
      JPMorgan Chase Bank, N.A., as Administrative Agent (the "Administrative
      Agent")
      (as
      amended, restated, modified and/or supplemented from time to time, the
      "Credit
      Agreement").
      Unless
      otherwise defined herein, capitalized terms used herein shall have the
      respective meanings set forth in the Credit Agreement.

     

    Each
      Lender (each, an "Incremental
      Term Loan Lender")
      party
      to this letter agreement (this "Agreement")
      hereby
      severally agrees to provide the Incremental Term Loan Commitment set forth
      opposite its name on Annex
      I
      attached
      hereto (for each such Incremental Term Loan Lender, its "Incremental
      Term Loan Commitment").
      Each
      Incremental Term Loan Commitment provided pursuant to this Agreement shall
      be
      subject to all of the terms and conditions set forth in the Credit Agreement,
      including, without limitation, Sections 1.01(c) and 1.14 thereof.

     

    Each
      Incremental Term Loan Lender, the Borrower and the Administrative Agent
      acknowledge and agree that the Incremental Term Loan Commitments provided
      pursuant to this Agreement shall constitute Incremental Term Loan Commitments
      of
      the respective Tranche specified in Annex
      I
      attached
      hereto and, upon the incurrence of Incremental Term Loans pursuant to such
      Incremental Term Loan Commitments, shall constitute Incremental Term Loans
      under
      such specified Tranche for all purposes of the Credit Agreement and the other
      applicable Credit Documents. Each Incremental Term Loan Lender, the Borrower
      and
      the Administrative Agent further agree that, with respect to the Incremental
      Term Loan Commitment provided by each Incremental Term Loan Lender pursuant
      to
      this Agreement, such Incremental Term Loan Lender shall receive from the
      Borrower such upfront fees, unutilized commitment fees and/or other fees, if
      any, as may be separately agreed to in writing by the Borrower and
      such
      Incremental Term Loan Lender, all of which fees shall be due and payable to
      such
      Incremental Term Loan Lender on the terms and conditions set forth in each
      such
      separate agreement.

     

    Furthermore,
      each of the parties to this Agreement hereby agree to the terms and conditions
      set forth on Annex
      I
      hereto in
      respect of each Incremental Term Loan Commitment provided pursuant to this
      Agreement.

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Each
      Incremental Term Loan Lender party to this Agreement, to the extent not already
      a party to the Credit Agreement as a Lender thereunder, (i) confirms that it
      is
      an Eligible Transferee, (ii) confirms that it has received a copy of the Credit
      Agreement and the other Credit Documents, together with copies of the financial
      statements referred to therein and such other documents and information as
      it
      has deemed appropriate to make its own credit analysis and decision to enter
      into this Agreement and to become a Lender under the Credit Agreement, (iii)
      agrees that it will, independently and without reliance upon the Administrative
      Agent or any other Lender and based on such documents and information as it
      shall deem appropriate at the time, continue to make its own credit decisions
      in
      taking or not taking action under the Credit Agreement and the other Credit
      Documents, (iv) appoints and authorizes the Administrative Agent and the
      Collateral Agent to take such action as agent on its behalf and to exercise
      such
      powers under the Credit Agreement and the other Credit Documents as are
      delegated to the Administrative Agent and the Collateral Agent, as the case
      may
      be, by the terms thereof, together with such powers as are reasonably incidental
      thereto, (iv) agrees that it will perform in accordance with their terms all
      of
      the obligations which by the terms of the Credit Agreement and the other Credit
      Documents are required to be performed by it as a Lender, and (v) in the case
      of
      each Incremental Term Loan Lender organized under the laws of a jurisdiction
      outside the United States, attaches the forms and/or Section 4.04(b)(ii)
      Certificate referred to in Section 4.04(b) of the Credit Agreement, certifying
      as to its entitlement as of the date hereof to a complete exemption from United
      States withholding taxes with respect to all payments to be made to it by the
      Borrower under the Credit Agreement and the other Credit Documents.

     

    Upon
      the
      date of (i) the execution of a counterpart of this Agreement by each Incremental
      Term Loan Lender, the Administrative Agent, the Borrower and
      each
      Subsidiary Guarantor, (ii) the delivery to the Administrative Agent of a fully
      executed counterpart (including by way of facsimile or other electronic
      transmission) hereof, (iii) the payment of any fees then due and payable in
      connection herewith and (iv) the satisfaction of any other conditions precedent
      set forth in Section 9 of Annex
      I
      hereto,
      each Incremental Term Loan Lender party hereto (i) shall be obligated to make
      the Incremental Term Loans provided to be made by it as provided in this
      Agreement on the terms, and subject to the conditions, set forth in the Credit
      Agreement and in this Agreement and (ii) to the extent provided in this
      Agreement, shall have the rights and obligations of a Lender thereunder and
      under the other applicable Credit Documents.

     

    The
      Borrower acknowledges and agrees that (i) it shall be liable for all Obligations
      with respect to the Incremental Term Loan Commitments provided hereby including,
      without limita-tion, all Incremental Term Loans made pursuant thereto, and
      (ii)
      all such Obligations (including all such Incremental Term Loans) shall be
      entitled to the benefits of the Pledge Agreement and the Subsidiaries
      Guaranty.

     

    Each
      Subsidiary Guarantor acknowledges and agrees that all Obligations with respect
      to the Incremental Term Loan Commitments provided hereby and all Incremental
      Term Loans made pursu-ant thereto shall (i) be fully guaranteed pursuant to
      the
      Subsidiaries Guaranty as, and to the extent, provided therein and in the Credit
      Agreement (and shall constitute (and be included in the definition of)
      "Guaranteed Obligations" under the Subsidiaries Guaranty) and (ii) be entitled
      to the benefits of the Credit Documents as, and to the extent, provided therein
      and in the Credit Agreement.

     

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

    

     

    Attached
      hereto as Annex
      II
      is the
      officers' certificate required to be delivered pursuant to clause (v) of the
      definition of "Incremental Commitment Requirements" appearing in Section 10
      of
      the Credit Agreement certifying that the conditions set forth in clauses (t)
      and
      (u) of the definition of "Incremental Commitment Requirements" appearing in
      Section 10 of the Credit Agreement have been satisfied (together with
      calculations demonstrating same (where applicable) in reasonable
      detail).

     

    Attached
      hereto as Annex
      III
      is an
      opinion of Cahill Gordon & Reindel LLP,
      counsel
      to the respective Credit Parties, delivered as required pursuant to clause
      (x)
      of the definition of "Incremental Commitment Requirements" appearing in Section
      10 of the Credit Agreement. 

     

    Attached
      hereto as Annex
      IV
      are true
      and correct copies of officers' certificates, board of director resolutions
      and
      good standing certificates of the Credit Parties required to be delivered
      pursuant to clause (y) of the definition of "Incremental Commitment
      Requirements" appearing in Section 10 of the Credit Agreement.

     

    You
      may
      accept this Agreement by signing the enclosed copies in the space provided
      below, and returning one copy of same to us before the close of business on
      October 16, 2006. If you do not so accept this Agreement by such time, our
      Incremental Term Commitments set forth in this Agreement shall be deemed
      canceled.

     

    After
      the
      execution and delivery to the Administrative Agent of a fully executed copy
      of
      this Agreement (including by way of counterparts and by facsimile or other
      electronic transmission) by the parties hereto, this Agreement may only be
      changed, modified or varied by written instrument in accordance with the
      requirements for the modification of Credit Documents pursuant to Section 12.11
      of the Credit Agreement.

     

    In
      the
      event of any conflict between the terms of this Agreement and those of the
      Credit Agreement, the terms of the Credit Agreement shall control.

     

    *****

     

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

    THIS
      AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF
      THE
      STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES.

     

    
      	
              Very
                truly yours,

            
	
              JPMORGAN
                CHASE BANK, N.A.,

            
	 
	
              By:
                /s/
                Erin O'Rourke

            
	
              Name:
                Erin O'Rourke

            
	
              Title:
                Vice President

            
	 
	
              Agreed
                and Accepted

            
	
              this
                16th
                day
                of October, 2006:

               

            

    

    

     

    
      	
              USI
                HOLDINGS CORPORATION

               

               

              By:
                /s/
                Robert S. Schneider        

                    
                Name: Robert S. Schneider

                    
                Title: Executive Vice President & CFO, 

                             
                Treasurer

            

    

    

    

    JPMORGAN
      CHASE BANK, N.A.,

     

    as
      Administrative Agent

     

    By:
      /s/
      Erin O'Rourke        

    Name:
      Erin
      O'Rourke

    Title:
      Vice President

    

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Each
      Subsidiary Guarantor acknowledges and agrees to each of the foregoing provisions
      of this Incremental Loan Commitment Agreement and to the incurrence of the
      Incremental Term Loans to be made pursuant thereto.

    

    USI
      SERVICES CORPORATION,

    ASSOCIATION
      GROWTH ENTERPRISES, INCORPORATED,

    BERTHOLON-ROWLAND,
      INC., New Jersey Corporation,

    SIGNATURE
      PREMIUM FINANCE, INC.,

    DEXTER-BERTHOLON-ROLAND,
      INC.,

    BERTHOLON-ROWLAND
      INC., a Pennsylvania Corporation,

    PROGRESSIVE
      PLAN ADMINISTRATORS, INC.,

    USI
      RETIREMENT SERVICES, INC.,

    EMERSON,
      REID & COMPANY, INC.,

    RIVERSIDE
      INSURANCE ASSOCIATES, INC.,

    USI
      INSURANCE SERVICES OF RHODE ISLAND, INC.,

    USI
      MIDATLANTIC, INC.,

    USI
      NORTHEAST, INC.,

    HENDERSON
      & PHILLIPS, INCORPORATED,

    USI
      OF
      GEORGIA, INC.,

    COLONIAL
      PREMIUM FINANCE COMPANY,

    USI
      GULF
      COAST, INC.,

    USI
      INSURANCE SERVICES OF FLORIDA, INC.,

    CICORP
      -
      USI, INC.,

    COMMERCIAL
      BROKER SERVICES, INC.,

    USI
      MIDWEST, INC.,

    USI
      INSURANCE SERVICES CORP. OF ILLINOIS, INC.,

    USI
      OF
      ILLINOIS, INC.,

    WRIMS,
      CORP.,

    INSURANCE
      RISK MANAGERS, INC.,

    ANCO
      CORPORATION,

    MD
      PREMIUM
      FINANCE CORPORATION,

    WESTERN
      CLAIM SERVICES, INC.,

    ANCO
      LIFE
& BENEFITS SERVICES, INC.,

    STRATEGIC
      BENEFIT PLANNING CORPORATION,

    as
      Guarantors

    

    

    By:
      /s/
      Robert S. Schneider        

    Name:
      Robert S. Schneider

    Title:
      Treasurer

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    ANCO
      INSURANCE SERVICES OF HOUSTON, INC.,

    COMMERCIAL
      INSURANCE CONCEPTS, INC.,

    INTER/NATIONAL
      RENTAL INSURANCE SERVICES, INC.,

    CAMPBELL,
      GALT & NEWLANDS, INC.,

    EL
      CAMINO
      INSURANCE AGENCY,

    HURLEY,
      ATKINS & STEWART, INC.,

    USI
      INSURANCE SERVICES OF NORTHERN CALIFORNIA, INC.,

    USI
      OF
      SOUTHERN CALIFORNIA INSURANCE SERVICES, INC.,

    CUSTOM
      BENEFIT PROGRAMS, INC.,

    USI
      CONSULTING GROUP, INC.,

    USI
      ADVISORS, INC.,

    USI
      CONSULTING GROUP OF NEW YORK, INC.,

    BENEFIT
      STRATEGIES OF MAINE, INC.,

    BMI
      INSURANCE SERVICES, INC.,

    U.S.I.
      INSURANCE SERVICES OF MASSACHUSETTS, INC.,

    NETCARE
      SERVICES, INC.,

    PHOENIX
      INSURANCE AGENCY, INC.,

    HUMANEX,
      INC. - INSURANCE SERVICES,

    USI
      INSURANCE SERVICES OF NEW ENGLAND, INC.,

    EAGLE
      BENEFIT SERVICES LLC,

    TURNER
      P.
      WILLIAMS & ASSOCIATES, LLC,

    FUTURE
      PLANNING ASSOCIATES, INC.,

    BERTHOLON-ROWLAND
      CORP.,

    AMERICAN
      INSURANCE ADMINISTRATORS, INC., an Ohio corporation 

    AMERICAN
      INSURANCE ADMINISTRATORS, INC., a Colorado corporation

    B-R
      INSURANCE BROKERS, INC.,

    DWP/USI
      OF
      SOUTHERN CALIFORNIA INSURANCE AGENCY, INC.,

    SUMMIT
      GLOBAL PARTNERS, INC.

    SUMMIT
      GLOBAL PARTNERS (TEXAS) HOLDINGS, INC.,

    as
      Guarantors

    

    

     

    By:
      /s/
      Robert S. Schneider        

    Name:
      Robert S. Schneider

    Title:
      Treasurer

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    

     

    SUMMIT
      GLOBAL PARTNERS HOLDINGS, INC.,

    SUMMIT
      GLOBAL PARTNERS INSURANCE SERVICES, INC.,

    SUMMIT
      GLOBAL PARTNERS OF ILLINOIS, INC.,

    SUMMIT
      GLOBAL PARTNERS OF MEMPHIS, INC.,

    SUMMIT
      GLOBAL PARTNERS OF MICHIGAN, INC.,

    USI
      SOUTHWEST, INC.,

    SUMMIT
      GLOBAL PARTNERS OF TEXAS, INC.,

    VISTA
      INSURANCE PARTNERS OF ILLINOIS, INC.,

    VISTA
      INSURANCE PARTNERS, INC.,

    as
      Guarantors

    

    

     

    By: 
      /s/
      Robert S. Schneider        

    Name:
      Robert S. Schneider

    Title:
      Treasurer

     

    

    

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ANNEX
      I

     

    TERMS
      AND CONDITIONS FOR

    INCREMENTAL
      TERM LOAN COMMITMENT AGREEMENT

     

    Dated
      as
      of October 16, 2006

     

    1.           
       Name
      of
      Borrower: USI
      Holdings Corporation

     

    2.            
      Incremental
      Term Loan Commitment Amounts:

     

    
      	
              Names
                of Incremental Term Loan Lenders

               

            	
              Amount
                of Incremental Term Loan Commitment

               

            
	
              JPMorgan
                Chase Bank, N.A.

               

            	
              $50,000,000.00

               

            
	 	 

    

    

     

    
      	
              3.

            	
              Designation
                of Tranche of Incremental Term Loan Commitments (and Incremental
                Term
                Loans to be funded thereunder): To be added to the existing Tranche
                of
                Term Loans.

            

    

     

    
      	
              4.

            	
              Indicate
                the Incremental Term Loan Borrowing Date: The Business Day occurring
                on or
                before November 15, 2006 (if any) on which the conditions precedent
                to the
                Borrowing of Incremental Term Loans pursuant to the Incremental Term
                Loan
                Commitments provided pursuant to this Agreement are satisfied and
                such
                Borrowing of Incremental Term Loans
                occurs.

            

    

     

    
      	
              5.

            	
              Incremental
                Term Loan Maturity Date: The Term Loan Maturity
                Date.

            

    

     

    
      	
              7.

            	
              Dates
                for, and amounts of, Incremental Term Loan Scheduled Repayments:
                The Term
                Loan Scheduled Repayments, as adjusted pursuant to Section 1.14(c)(ii)
                of
                the Credit Agreement.

            

    

     

    
      	
              8.

            	
              Applicable
                Margins: The Applicable Margins for Term Loans, as set forth in the
                Credit
                Agreement.

            

    

     

    
      	
              9.

            	
              Other
                Conditions Precedent:

            

    

     

    
      	 	
              A.

            	
              The
                First Amendment Effective Date (as defined in the First Amendment
                to the
                Credit Agreement, dated as of October 10, 2006) shall have
                occurred.

            

    

     

    
      	 	
              B.

            	
              The
                Borrower shall have provided at least 3 Business Days' prior written
                notice to the Administrative Agent and each Incremental Term Loan
                Lender
                requesting an effective date for the Incremental Term Loan Commitments;
                provided
                that if the 

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        Annex
          I
Page 2

      

    

    Borrower
      has not provided such written notice on or prior to November 15, 2006, then
      the
      Incremental Term Loan Commitments set forth in the Incremental Term Loan
      Commitment Agreement shall be automatically cancelled on such date.

     

    
      	 	
              C.

            	
              The
                Borrower shall have paid to each Incremental Term Loan Lender a commitment
                fee equal to 1.125% per annum of the Incremental Term Loan Commitment
                of
                such Incremental Term Loan Lender (as set forth in the Incremental
                Term
                Loan Commitment Agreement) commencing on October 16, 2006 to and
                including
                the earlier to occur of November 15, 2006 and the Incremental
                Term Loan Borrowing Date,
                which fee shall be due and payable on the earlier of such dates,
                it being
                understood and agreed that the Borrower shall be obligated to pay
                such fee
                regardless of whether the Incremental Term Loan Borrowing Date ever
                occurs.

            

    

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    ANNEX
      II

    [Officers'
      certificate required to be delivered pursuant to clause (v) of the definition
      of
      "Incremental Commitment Requirements" appearing in Section 10 of the Credit
      Agreement certifying that the conditions set forth in clauses (t) and (u) of
      the
      definition of "Incremental Commitment Requirements" appearing in Section 10
      of
      the Credit Agreement have been satisfied]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    ANNEX
      III

    [Opinion
      of Cahill Gordon & Reindell LLP,
      delivered as required pursuant to clause (x) of the definition of "Incremental
      Commitment Requirements" appearing in Section 10 of the Credit
      Agreement]

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    ANNEX
      IV

    [True
      and
      correct copies of officers' certificates, board of director resolutions and
      good
      standing certificates of the Credit Parties required to be delivered pursuant
      to
      clause (y) of the definition of "Incremental Commitment Requirements" appearing
      in Section 10 of the Credit Agreement]Exhibit 10.1 - Consulting Agreement Amendment.

Exhibit 10.1

 

Consulting Agreement Amendment

 

 

Global Green Solutions Inc. (formerly High Grade Mining Corp.) ("GGS") and Windstone Financial Corp. ("WFC") entered into a Consulting Agreement ("the Agreement") dated February 1, 2006. The terms of the Agreement in Section 3-Compensation, item 3.1 Annual Base, provide for a "Base Compensation" payable by GGS in equal monthly installments of $4,000 USD to WFC.

As mutually agreed, the scope of WFC's involvement with GGS and the extent of services provided to GGS by WFC have evolved since the date the parties entered into the Agreement. As a result of these changed circumstances, WFC has proposed and GGS has agreed to an adjustment in the Base Compensation amount from $4,000 USD to $2,500 USD per month, effective October, 2006.

With the exception of Base Compensation, this change does not amend or impact on any other term of the Agreement, which remains in full force and effect.

IN WITNESS WHEREOF, the parties have executed this amendment to the Agreement, the 1st day of September, 2006

 

Global Green Solutions Inc.

 

By:  ROBERT BAKER

Robert Baker, Secretary and Director

 

Windstone Financial Corp.

 

By:  M. ELDEN SCHORN

M. Elden Schorn, President

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