Document:

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                                                                   EXHIBIT 10(c)

                                PULTE HOMES, INC.
                           DEFERRED COMPENSATION PLAN
                           FOR NON-EMPLOYEE DIRECTORS

                        (Effective as of January 1, 2005)

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<TABLE>
<CAPTION>
                                TABLE OF CONTENTS
<S>                                                                             <C>
ARTICLE I  DEFINITIONS....................................................      1
1.1    Beneficiary........................................................      1
1.2    Board..............................................................      1
1.3    Company............................................................      2
1.4    Deferral Account...................................................      2
1.5    Deferral Date......................................................      2
1.6    Deferral Period....................................................      2
1.7    Deferral Year......................................................      2
1.8    Determination Date.................................................      2
1.9    Director...........................................................      2
1.10   Disability.........................................................      2
1.11   Effective Date.....................................................      2
1.12   Election Form......................................................      2
1.13   Election Period....................................................      2
1.14   Fees...............................................................      2
1.15   Participant........................................................      2
1.16   Payment Date.......................................................      2
1.17   Plan...............................................................      3

ARTICLE II  ELIGIBILITY...................................................      3

ARTICLE III  DEFERRAL OF FEES.............................................      3

ARTICLE IV  DEFERRAL ACCOUNT..............................................      3
4.1      Creation and Maintenance of Deferral Account.....................      3
4.2      Earnings.........................................................      3

ARTICLE V  PAYMENTS.......................................................      4
5.1    Deferral Periods...................................................      4
5.2    Payment Period.....................................................      4
       (a)  Payment Period For Regular Deferral Period....................      4
       (b)  Payment Period For Termination Deferral Period................      4
5.3    Payment Date.......................................................      4
5.4    Actual Payments....................................................      4

ARTICLE VI  MISCELLANEOUS.................................................      4
6.1    No Trust...........................................................      4
6.2    Funding Arrangements...............................................      4
6.3    Nonforfeitability..................................................      4
6.4    Spendthrift Provision..............................................      4
</TABLE>
                                       i
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<TABLE>
<S>    <C>                                                                     <C>
6.5    Successors, Etc....................................................      6
6.6    Severability.......................................................      6
6.7    Governing Law......................................................      6
6.8    Gender and Number Construction.....................................      6
6.9    Incapacity of Recipient............................................      6
6.10   Amendment and Termination of Plan..................................      6
6.11   Interpretation.....................................................      6
6.12   Procedures and Forms...............................................      6
</TABLE>

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                                PULTE HOMES, INC.
                           DEFERRED COMPENSATION PLAN
                           FOR NON-EMPLOYEE DIRECTORS
                        (EFFECTIVE AS OF JANUARY 1, 2005)

                                    PREAMBLE

      This Pulte Homes, Inc. Deferred Compensation Plan for Non-Employee
Directors (the "Plan") is effective January 1, 2005. This Plan is being
established by Pulte Homes, Inc. (the "Company") to provide members of the Board
of Directors of the Company who are not employees of the Company an additional
incentive to remain in the service of the Company by permitting them to defer
all or a portion of the fees earned for services performed as a member of the
Company's Board of Directors.

                                   ARTICLE I
                                  DEFINITIONS

      The following words and phrases, wherever capitalized, shall have the
following respective meanings, unless the context requires otherwise:

      1.1"BENEFICIARY" means the person or persons designated in writing by a
Participant to the Company. Such a written designation may be made at any time
by a Participant and may, from time to time, be amended or revoked; provided,
however, no designation, amendment or revocation thereof shall be effective if
delivered to the Company after a Participant's death, unless the Company shall
otherwise consent. In the absence of an effective designation of Beneficiary, or
if the designated Beneficiary shall not survive a Participant, such
Participant's Beneficiary shall be deemed to be the individual (or the
individuals in equal shares, per capita) in the first of the following classes
of successive preference beneficiaries, of which there shall be any individual
surviving the Participant:

            (a)   his spouse;

            (b)   his children (and the children of a deceased child, per
                  stirpes);

            (c)   his parents; or

            (d)   his brothers and sisters (and children of deceased brothers
                  and sisters, per stirpes).

In the event of the failure of all of the above categories, a Participant's
estate shall be deemed to be his Beneficiary.

      1.2"BOARD" means the Board of Directors of the Company.

      1.3."COMPANY" shall have the meaning set forth in the Preamble hereof.

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      1.4 "DEFERRAL ACCOUNT" means the bookkeeping account established by the
Company with respect to a Director pursuant to Article IV (Deferral Account) for
the purpose of recording the amount of the Fees being deferred pursuant to this
Plan, the amount of any earnings credited thereto pursuant to Article IV
(Deferral Account), and any payments made pursuant to Article V (Payments).

      1.5 "DEFERRAL DATE" means the first business day of the calendar quarter
following the calendar quarter during which Fees are earned on which it is
reasonably possible to credit amounts to a Participant's Deferral Account.

      1.6 "DEFERRAL PERIOD" means the interval between the Deferral Date and
the first Payment Date.

      1.7 "DEFERRAL YEAR" means a calendar year during which Fees are earned
by a Director and are deferred pursuant to Article III (Deferral of Fees).

      1.8 "DETERMINATION DATE" means each December 31st and such other date or
dates as of which the Company determines the balance of the Deferral Account.

      1.9 "DIRECTOR" means a member of the Board who is not an employee of the
Company.

      1.10 "DISABILITY" means a physical or mental condition of a Participant
which the Company finds would qualify him for a disability benefit under the
Federal Social Security Act.

      1.11 "EFFECTIVE DATE" means January 1, 2005.

      1.12 "ELECTION FORM" means the form provided by the Company on which each
of a Participant's elections are made under this Plan.

      1.13 "ELECTION PERIOD" means the period designated by the CEO before each
Deferral Year during which elections under Articles III (Deferral of Fees) and V
(Payments) must be made with respect to that Deferral Year; or with respect to
an individual who becomes a Director during a Deferral Year, the 30-day period
immediately following his election or appointment to the Board.

      1.14 "FEES" means the annual retainer, any Committee Chairperson fees,
meeting fees and any other fees earned by the Director on and after January 1,
2005 for the performance of services as a member of the Board.

      1.15 "PARTICIPANT" means any Director who elects to defer all or a
portion of his Fees earned in a Deferral Year in accordance with Article III.

      1.16 "PAYMENT DATE" means, with respect to the Deferral Account, the date
payments of the Deferral Account commence pursuant to Section 5.3 (Payment Date)
and, for annual installments after the initial payment, each anniversary of the
first Payment Date until the Deferral Account has been paid in full.

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      1.17 "PLAN" shall have the meaning set forth in the Preamble hereof.

                                   ARTICLE II
                                   ELIGIBILITY

      Each Director shall be eligible to elect to defer all or any portion of
Fees earned subsequent to his election or appointment to the Board in any
Deferral Year pursuant to the terms of this Plan.

                                  ARTICLE III
                                DEFERRAL OF FEES

      During the Election Period, each Director may elect, on the Election Form,
that all or a portion of his Fees to be earned in a Deferral Year shall not be
paid in accordance with the normal quarterly payment schedule, but shall instead
be distributed to him (or in the event of his death, to his Beneficiary) in
accordance with the provisions of Article V (Payments). Elections shall be in
one percent (1%) increments, or such other increments as may be specified by the
Company.

                                   ARTICLE IV
                                DEFERRAL ACCOUNT

      4.1   Creation and Maintenance of Deferral Account. The Company shall
establish a Deferral Account for each Participant. The portion of each
Director's Fees deferred pursuant to Article III (Deferral of Fees) shall be
credited to his Deferral Account as of the applicable Deferral Date. The Company
may establish subaccounts within each Deferral Account for each Deferral Year.
The Company shall maintain records for each Deferral Account and any subaccounts
until the balance of the Deferral Account has been paid in full pursuant to
Article V (Payments).

      4.2   Earnings. As of each Determination Date, the balance of each
Participant's Deferral Account shall be credited with an amount determined by
multiplying the Deferral Account balance as of the Determination Date by a
percentage equal to two hundred (200) basis points over the yield, as of January
1st of that year, on U.S. Treasury Notes with a term of five (5) years. The
earnings credited shall be weighted to reflect the timing of credits and
payments, if any, occurring during the year then ended. On January 1st of each
year, the earnings rate shall be reviewed and adjusted, if necessary, to ensure
that the rate is a minimum of two hundred (200) basis points over the prevailing
yield on U.S. Treasury Notes with a term of five (5) years.

                                   ARTICLE V
                                    PAYMENTS

      5.1   Deferral Periods. For any Deferral Year after the Effective Date,
the Deferral Period for the subaccount established within a Participant's
Deferral Account for that Deferral Year shall be the period set forth on the
applicable Election Form (not to exceed eight (8) years from the Deferral Date)
(the "Regular Deferral Period"). Notwithstanding the preceding sentence, a
Director's elected Deferral Period shall be overridden and end on the date of
the

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Director's termination of service as a Director with the Company for any reason,
including Disability or death (the "Termination Deferral Period").

      5.2   Payment Period. Payments made by the Company with respect to the
subaccounts established within a Participant's Deferral Account for Deferral
Years beginning on or after the Effective Date shall be paid over the period
specified below.

                  (a) Payment Period For Regular Deferral Period. At the end of
            the Regular Deferral Period described under Section 5.1 (Deferral
            Periods), annual payments shall be paid over the period specified in
            such Participant's applicable Election Form (not to exceed eight (8)
            years).

                  (b) Payment Period For Termination Deferral Period. Except as
            otherwise provided in Section 5.3, at the end of the Termination
            Deferral Period described under Section 5.1 (Deferral Periods),
            annual payments shall be paid over the period specified in such
            Participant's applicable Election Form (not to exceed three (3)
            years).

      5.3   Payment Date. Payments made in accordance with Section 5.2(a)
(Payment Period For Regular Deferral Period) and Section 5.2(b) (Payment Period
For Termination Deferral Period) shall be made, or commence, as soon as
reasonably possible after the January 1st or July 1st that is at least six (6)
months after the end of the applicable Deferral Period set forth in Section 5.1
(Deferral Periods). Annual installments shall continue to be paid thereafter on
each anniversary of the first Payment Date over the period specified on the
Election Form. Notwithstanding the foregoing sentence, however, in the event
that a Participant dies (i) during the Deferral Period, (ii) after the end of
the Deferral Period, but prior to the commencement of the payment period or
(iii) after the commencement of the payment period but before the end of his
elected payment period, the balance of his Deferral Account will be paid in a
lump sum to his Beneficiary on the next Payment Date after his death.

      5.4   Actual Payments. Payments made by the Company with respect to a
Participant's Deferral Account shall be made in cash (reduced by required tax
withholdings) and, for any reason other than the Participant's death or election
of a lump sum, annual payments shall be in an amount equal to a percentage of
his relevant subaccount balance on the relevant Payment Date, determined by
dividing the subaccount balance at the applicable Payment Date by the total
remaining years of the payment term.

      Examples:   A.    Assume a Participant remains a Director until the end
                        of his elected Deferral Period and elected a five
                        (5) year payment period. The Deferral Account balance
                        would be paid out as indicated below.

                  B.    Assume a Participant terminates as a member of the Board
                        because of Disability and elected a two (2) year payment
                        period. The Deferral Account balance would be paid out
                        as indicated below.

                  C.    Assume a Participant elected a three (3) year payment
                        period and dies after receiving his second scheduled
                        payment. The Deferral

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                        Account balance would be paid out as indicated below.
<TABLE>
<CAPTION>
Payment Date                       Percentage of Subaccount Account Balance Paid
                                         A.                  B.              C.
<S>                                     <C>                  <C>             <C>
First Payment Date                          20%               50%            33-1/3%
Second Payment Date                         25%              100%                50%
Third Payment Date                      33-1/3%                                 100%
Fourth Payment Date                         50%
Fifth Payment Date                         100%
</TABLE>

                                   ARTICLE VI
                                  MISCELLANEOUS

      6.1   No Trust. Nothing contained in this Plan and no action taken
pursuant to the provisions hereof shall create or deem to create a trust of any
kind, or a fiduciary relationship between the Company and a Participant, his
Beneficiary or any other person. To the extent that any person acquires the
right to receive benefits from the Company under this Plan, such right shall be
no greater than the right of any other unsecured general creditor of the
Company, and such person shall have no claim on, or any beneficial interest in,
any assets of the Company. The Company may establish bookkeeping reserves or any
funding media, including grantor trusts, to cover its obligation to make the
payments contemplated under Article V (Payments), but amounts designated in such
bookkeeping reserves or contained in such funding media as are established shall
remain solely those of the Company and shall be subject to the claims of the
creditors of the Company until actually paid to a Participant or his
Beneficiary.

      6.2   Funding Arrangements. It is the Company's intention that the amounts
deferred under this Plan shall be unfunded for tax purposes and for purposes of
Title I of the Employee Retirement Income Security Act of 1974, as amended. All
such amounts shall continue for all purposes to be part of the general funds of
the Company and the Plan shall constitute an unsecured promise of the Company to
make benefit payments in the future. The Company may, but is not required to,
deposit in a trust amounts sufficient to pay benefits under the Plan. Any
amounts deposited in a trust will be subject to the Company's general creditors.

      6.3   Nonforfeitability. A Participant's rights to any payments under this
Plan, shall at all times be nonforfeitable.

      6.4   Spendthrift Provision. Benefits, payments, proceeds, claims, rights
or interest of a Participant or his Beneficiary to or under this Plan shall not
be subject in any manner to any claims, attachments or encumbrances due to the
death, contracts, liabilities, engagements or torts of the Participant or his
Beneficiary, directly or indirectly, or be subject to any claim of any creditor
of the Participant or his Beneficiary, through legal process or otherwise; nor
shall a Participant or his Beneficiary be able or permitted in any manner to
transfer, encumber, pledge, anticipate, alienate, sell, or assign any such
benefits, payments, proceeds, claims, rights or interest, contingent or
otherwise.

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      6.5   Successors, Etc. This Plan shall be binding upon and benefit the
Company and its successors, and the Participant and his Beneficiary, their heirs
and personal representatives, all in accordance and subject to the terms of this
Plan.

      6.6   Severability. Each provision of this Plan shall be independent of
and separable from every other provision of this Plan and should any provision
of this Plan be deemed or be declared to be contrary to or unenforceable under
any law, whether constitutional, statutory or otherwise, all of the remaining
provisions of this Plan shall remain in full force and effect.

      6.7   Governing Law. This Plan shall be governed in all respects, whether
as to validity, construction, capacity, performance or otherwise, under the laws
of the State of Michigan, except to the extent superseded by federal law.

      6.8   Gender and Number Construction. In all cases where they would so
apply, words used in the masculine gender shall be construed to include the
feminine gender, and words used in the singular shall be construed to include
the plural.

      6.9   Incapacity of Recipient. In the event a Participant or his
Beneficiary is declared incompetent and a conservator or other person legally
charged with the care of his person is appointed, any benefits under this Plan
to which such Participant or Beneficiary is entitled shall be paid to such
appointed person.

      6.10  Amendment and Termination of Plan. This Plan may be amended or
terminated by the Company at any time with respect to amounts not yet credited
to a Participant's Deferral Account; provided however, no such termination shall
affect a Participant's interest in amounts previously deferred.

      6.11  Interpretation. The Executive Committee of the Board of Directors of
the Company (excluding the Director) shall have exclusive and final authority
and discretion with respect to (a) the interpretation and implementation of the
terms and provisions of this Plan and (b) the adoption or amendment of such
procedures or practices as it deems necessary, helpful or appropriate, in its
sole and absolute discretion, for purposes of administering this Plan.

      6.12  Procedures and Forms. The Executive Committee of the Board
(excluding the Director) may establish and amend such procedures and forms as
are appropriate to implement matters under this Plan.

      IN WITNESS WHEREOF, the Company has caused the Plan to be executed by its
duly authorized officer, this ____ day of _______________, 2004, to be effective
January 1, 2005.

                                   PULTE HOMES, INC.

                                   By: ________________________

                                   Its:________________________

                                       6<PAGE>
                                                                    Exhibit 10.1

                       INTER-COMPANY REINSURANCE AGREEMENT

         THIS INTER-COMPANY REINSURANCE AGREEMENT ("Agreement") is made and
effective January 1, 2006, by and between Star Insurance Company ("Star"), and
Ameritrust Insurance Corporation, Savers Property and Casualty Insurance Company
and Williamsburg National Insurance Company, (hereinafter collectively referred
to as "Affiliated Companies").

                                    RECITALS

         WHEREAS, the parties hereto are engaged in the transaction of various
forms of property, casualty, medical malpractice, commercial auto and workers'
compensation insurance business in the United States and are a member of the
Insurance Company Holding System of Meadowbrook Insurance Group, Inc.;

         WHEREAS, Star shall be considered the lead company for the purposes of
this Agreement;

         WHEREAS, the parties wish to enter into an Inter-Company Reinsurance
Agreement to conform with state legal requirement;

         NOW, THEREFORE, the parties agree as follows:

                                    ARTICLE I
                            APPLICATION OF AGREEMENT

         This Agreement is effective as of 12:01 a.m. on January 1, 2006, (the
"Effective Date") and applies to all insurance risks of the Affiliated Companies
located in the United States as of the Effective Date, as well as to all such
risks written and assumed thereafter.

                                   ARTICLE II
                              REINSURANCE AGREEMENT

    (a) The Affiliated Companies hereby agree to cede to Star and Star agrees to
        reinsure 100% of the liabilities and expenses of the Affiliated
        Companies existing as of January 1, 2005 including any development on
        loss reserves relating to these liabilities and expenses occurring on or
        after January 1, 2006, as well as 100% of the liabilities and expenses
        of the Affiliated Companies during the term of this Agreement, each
        relating to all insurance and reinsurance policies assumed, written or
        issued by of on behalf of the Affiliated Companies.

        (b) Star hereby agrees to cede and the Affiliated Companies hereby agree
        to reinsure Star, their Respective Percentages (as set forth in Appendix
        A) of the liabilities and expenses of the Affiliated Companies existing
        as of January 1, 2005 including any development on loss reserves
        relating to these liabilities and expenses occurring on or after January
        1, 2005, as well as 100% of the liabilities and expenses of the
        Affiliated Companies during the term of the Agreement, each relating to
        all insurance and

                                  Page 1 of 8
<PAGE>

        reinsurance policies assumed, written or issued by or on behalf of the
        Affiliated Companies.

        The liabilities ceded under this Article II(b) shall be net of
    reinsurance ceded to excess of loss and/or quota share reinsurers, excluding
    the parties hereto and shall not include liabilities for federal income
    taxes, liabilities incurred in connection with investment transactions,
    liabilities for dividends and other liabilities not incurred in connection
    with underwriting and claim operations.

                                   ARTICLE III
                              PREMIUMS AND RESERVES

    (a) The Affiliated Companies agree to transfer to Star, and Star agrees to
        accept, all premium and reserves related to the business ceded to Star
        under Article II.

    (b) Star agrees to transfer to the Affiliated Companies their Respective
        Percentages of the premium received and reserves maintained by Star for
        its own account and for business reinsured by it under Article II.

        The premium ceded under this Article II(b) shall be net of reinsurance
    premium placed with unaffiliated quota share or excess of loss reinsurers.
    Until Williamsburg National Insurance Company receives authority to write
    disability insurance in California and Michigan, disability insurance will
    be excluded from this Agreement.

                                   ARTICLE IV
                               INVESTMENT EXPENSES

        Notwithstanding anything to the contrary in this Agreement, no
    investment expenses of any party (including costs of personnel) shall be
    allocated based on premium volume, but such expenses shall be allocated on a
    cost basis among the parties.

                                    ARTICLE V
                              RESPECTIVE PERCENTAGE

        The term "Respective Percentage" as used in this Agreement shall be as
    stated in Appendix A hereto.

                                   ARTICLE VI
                          OTHER REINSURANCE AGREEMENTS

        Star and Affiliated Companies agree that all reinsurance to be ceded to
    excess of loss and quota share reinsurers, excluding the parties hereto
    shall be ceded by and in the name of Star.

        Star assumes all premium responsibilities associated with any and all
    unaffiliated reinsurance agreements in effect on January 1, 2005 with
    Ameritrust, Savers and/or Williamsburg named separately or collectively
    inclusive of Star. In return for the payment of such premiums Ameritrust,
    Williamsburg and Savers agree to assign all reinsurance recoverables under
    said unaffiliated reinsurance agreements to Star.

                                  Page 2 of 8
<PAGE>

                                   ARTICLE VII
                                   ACCOUNTING

        Accounts, including reports for premiums and losses, and payment of
    losses shall be made no less frequently than on a quarterly basis, unless
    there is no activity during the period. The report of premiums and losses
    shall set forth the ceding Company's total loss and loss expense reserves on
    the policy obligations subject to this agreement. A ceding company may make
    a request at any time for immediate payment of a recovery and the funds will
    be made available without delay.

                                  ARTICLE VIII
                           POLICY AND CLAIMS HANDLING

        As of the Effective Date of this Agreement, the Affiliated Companies
    hereby authorize and empower Star to collect and receive all premium and
    other recoverable amounts, and to take charge of, adjust and pay all losses
    with respect to any and all contracts and policies of insurance issued by
    the Affiliated Companies and to reinsure, administer or terminate all such
    contracts and policies as appropriate.

                                   ARTICLE IX
                                   ASSIGNMENT

        Each of the Affiliated Companies assign to Star all right and interest
    of such Affiliated Company in its agents' balances and uncollected premium
    whether due or overdue underwriting expenses, as well as all right, title
    and interest in regulatory pools, associations or assessments, and any other
    underwriting assets and related liabilities. In turn, Star hereby transfers
    and assigns to each Affiliated Company their Respective Percentage of all
    premium, underwriting expenses and all title and interest in regulatory
    pools, associations or assessments and other underwriting assets and
    liabilities.

        Each of the Affiliated Companies assign to Star all right and interest
    of such Affiliated Company in reinsurance agreements entered into by it, and
    authorizes Star to take such actions as may be necessary to execute
    transactions pursuant to such reinsurance agreements.

                                    ARTICLE X
                                 RIGHT TO OFFSET

        The obligation of each party under this Agreement to transfer
    underwriting assets and liabilities to another party may be offset by the
    reciprocal obligations of such other party so that only the net amount of
    such underwriting assets and liabilities shall be required to be
    transferred.

                                   ARTICLE XI
                             CREDIT FOR REINSURANCE

        Each participant to this Agreement shall take full credit for all
    liabilities ceded to the other participants. To the extent that any
    participant is not identically licensed in the other participants' states of
    domicile, the ceding company will either retain sufficient funds withheld
    trusts or will obtain adequate letters of credit from the assuming party to
    secure reinsurance recoveries.

                                  Page 3 of 8
<PAGE>

                                   ARTICLE XII
                                 ORIGINAL TERMS

        The terms and conditions of the reinsurance hereunder shall in all cases
    be identical with the terms and conditions of the original insurance.

                                  ARTICLE XIII
                              INDEPENDENT OPERATION

        Notwithstanding any other provision of this Agreement, Star and the
    Affiliated Companies agree: (a) that each company owns, has custody of and
    keeps its own general corporate accounts; (b) that each company owns all the
    records of its business; (c) that each company has the ultimate veto right
    on its underwriting; (d) that each company has the ultimate right to cancel
    its risks; (e) that each company has the ultimate responsibility for and
    control of claims adjustment and claims payment and investment management;
    (f) that premium collected by Star as provided for in the Agreement shall be
    held and paid by Star in a fiduciary capacity under this Agreement; (g) that
    each company retains the right to cancel this Agreement at any time as
    stated in Article XIV; and (h) this Agreement may not be assigned by any
    party without the written consent of all other parties and applicable
    regulatory agencies.

                                   ARTICLE XIV
                                   INSOLVENCY

        In the event of the insolvency of any company that is a party to this
    Agreement, this reinsurance shall be payable directly to the company, or to
    its liquidator, receiver or conservator or statutory successor on the basis
    of the liability of the company without diminution because of the insolvency
    of the company or because the liquidator, receiver, conservator or statutory
    successor of the company has failed to pay all or a portion of any claim. It
    is agreed, however, that the liquidator, receiver, conservator or statutory
    successor of the company shall give written notice to the reinsurers of the
    pendency of a claim against the company indicating the policy or bond
    reinsurance which claim would involve a possible liability on the part of
    the reinsurers within a reasonable time after that claim is filed in the
    conservation or liquidation proceeding or in the receivership, and that
    during the pendency of that claim the reinsurers may investigate that claim
    and interpose, at their own expense, in the proceeding where that claim is
    to be adjudicated any defense (s) they may deem available to the company or
    its liquidator, receiver, conservator or statutory successor. This expense
    incurred by the reinsurers shall be chargeable, subject to the approval of
    the court, against the company as part of the expense conservation or
    liquidation to the extent of a pro rata share of the benefit which may
    accrue to the company solely as a result of the defense undertaken by the
    reinsurers.

        Where two or more reinsurers are involved in the same claim and a
    majority in interest elect to interpose defense to that claim, the expense
    shall be apportioned in accordance with the terms of the reinsurance
    agreement as though that expense had been incurred by the company.

        This insolvency clause shall not preclude the reinsurer from asserting
    any excuse of defense to payment of this reinsurance other than the excuses
    or defenses of the insolvency of the company and the failure of the
    company's liquidator, receiver, conservator or statutory successor to pay
    all or a portion of the claim.

                                  Page 4 of 8
<PAGE>

                                   ARTICLE XV
                            AMENDMENT OR CANCELLATION

        This Agreement may be amended by mutual agreement expressed in writing
    by the parties hereto. If this Agreement is amended, the parties shall
    provide the applicable regulatory agency thirty (30) days advance notice of
    such amendment.

        This Agreement shall remain in force until canceled by written notice
    given by any party to the others, at least ninety (90) days in advance of
    the effective date of cancellation. In addition, written notice shall be
    provided by the parties to the applicable regulatory agency thirty (30) days
    in advance of the cancellation date. In the event of such cancellation, all
    rights and obligations of the parties hereto with respect to policies which
    are then reinsured hereunder shall continue to be governed by this
    Agreement, until such liabilities are fully satisfied.

                                   ARTICLE XVI
                                  SOLE BENEFIT

        This Agreement is solely between and for the benefit of the parties
    hereto, and the acceptance of reinsurance hereunder shall not create any
    right or legal relation whatsoever between any third-party, such as,
    policyholder, unaffiliated quota share reinsurer or excess of loss
    reinsurer.

                                  ARTICLE XVII
                                  GOVERNING LAW

        This Agreement is made in the State of Michigan and shall be construed
    according to the laws of the State of Michigan.

                                  ARTICLE XVIII
                                 PERIODIC REVIEW

        This Agreement shall be reviewed by the parties annually and its terms
    renegotiated as the parties may mutually agree.

                                   ARTICLE XIX
                   PRIOR INTERCOMPANY REINSURANCE AGREEMENTS

        The Inter-Company Reinsurance Agreement dated January 1, 2005 shall be
    terminated on a "run-off" basis.

                                   ARTICLE XX
                                  JURISDICTION

        If a party fails to perform its obligations under the terms of this
    Agreement, the party may be sued in a court of competent jurisdiction
    located in any state in which the party is domiciled to enforce an
    arbitration award issued pursuant to Article XXIV.

                                  Page 5 of 8
<PAGE>

                                   ARTICLE XXI
                                 ENTIRE CONTRACT

        This Agreement represents the entire agreement and understanding among
    the parties. No other oral or written agreements or contracts relating to
    the risks reinsured hereunder currently exist and/or contemplated between
    parties.

                                  ARTICLE XXII
                              ERRORS AND OMISSIONS

        The position of either party to this Agreement shall not be prejudiced
    by any error or omission in reporting cessions or cancellations of premiums,
    commissions, losses, loss adjustment expenses or other underwriting expenses
    under this Agreement, or in claiming payments collectible hereunder for
    whatever cause.

                                  ARTICLE XXIII
                                ACCESS TO RECORDS

        Each party shall have the right, at any reasonable time, to examine all
    records and documents in the possession of the other party which relate to
    insurance business ceded under this Agreement.

                                  ARTICLE XXIV
                                   ARBITRATION

        Should a dispute arise between the parties relating to this Agreement,
    it is hereby mutually agreed that, as a condition precedent to any right of
    action hereunder, such difference shall be submitted to arbitration. Each
    party shall name their arbitrator within twenty (20) days of receiving a
    notice of appointment of arbitrator. The two (2) appointed arbitrators shall
    appoint the umpire. If they cannot agree, the umpire shall be selected by
    the Circuit Court for the County of Oakland. If either side fails to appoint
    its arbitrator, the other party may appoint the other arbitrator.
    Thereafter, the two (2) appointed arbitrators will appoint a neutral within
    ten (10) days of the appointment of the second arbitrator. The decision of
    the arbiters shall be final and binding upon the parties and enforceable in
    a court of competent jurisdiction. The parties shall bear the expense of its
    arbitrator and jointly and equally bear the expense of the umpire.

        In witness whereof, the parties hereto have caused this Agreement to be
    executed this 1st day of January, 2006.

    STAR INSURANCE COMPANY

    By:     /s/ Gregory L. Wilde
       -------------------------
       Gregory L. Wilde
       President

                                  Page 6 of 8
<PAGE>

    AMERITRUST INSURANCE CORPORATION

    By:      /s/ Gregory L. Wilde
       --------------------------
       Gregory L. Wilde
       President

    SAVERS PROPERTY AND CASUALTY INSURANCE COMPANY

    By:      /s/ Gregory L. Wilde
       --------------------------
       Gregory L. Wilde
       President

    WILLIAMSBURG NATIONAL INSURANCE COMPANY

    By:      /s/ Gregory L. Wilde
       --------------------------
       Gregory L. Wilde
       President

                                  Page 7 of 8
<PAGE>

                                   APPENDIX A
                       INTERCOMPANY REINSURANCE AGREEMENT

         Appendix A to the Inter-Company Reinsurance Agreement (the "Agreement")
is made and effective January 1, 2006 by and between Star Insurance Company
(Star), and Ameritrust Insurance Corporation, Savers Property and Casualty
Insurance Company and Williamsburg National Insurance Company, (hereinafter
collectively referred to as "Affiliated Companies"). The Affiliated Companies'
share in the attached Agreement shall be joint and several.

    1.  Effective January 1, 2006, the Respective Percentage(s) shall be as
        follows:

<Table>
<Caption>
        Company                                              Respective Percentage
        ----------------------------------------------       ---------------------
        <S>                                                  <C>
        Star Insurance Company                               56.6%

        Ameritrust Insurance Corporation                     10.0%

        Savers Property and Casualty Insurance Company       22.0%

        Williamsburg National Insurance Company              11.4%
</Table>

    2.  The initial participation percentages listed above may be adjusted from
        time to time by mutual agreement of the Parties. Any changes to the
        Parties' participation percentages will only be made after receipt of
        appropriate regulatory approval.

                                  Page 8 of 8

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