SEC Contract Filing

Filing Date: 2017-05-11

Document Content:
<DOCUMENT>
<TYPE>EX-10.8
<SEQUENCE>9
<FILENAME>q12017exhibit108.htm
<DESCRIPTION>EXHIBIT 10.8
<TEXT>
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<div><a name="sD3ADA60A3E6847DDFAFBA6B1BF0ACED7"></a></div><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.8</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">AGER Bermuda Holding Ltd.</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">96 Pitts Bay Road</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Pembroke, HM08, Bermuda</font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">April 14, 2017</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Procific</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Willow House, Cricket Square</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">P.O. Box 709</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Grand Cayman, KY1-1107</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Cayman Islands</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Ladies and Gentlemen:</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">In connection with an investment by Procific (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Investor</font><font style="font-family:inherit;font-size:12pt;">&#8221;) in AGER Bermuda Holding Ltd., a Bermuda domiciled insurance holding company (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and as an inducement for such investment by the Investor in the Company (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Investment</font><font style="font-family:inherit;font-size:12pt;">&#8221;), the Company has agreed to provide the Investor with this letter agreement (this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Letter Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;). The Investor is, contemporaneously herewith, subscribing for an interest in the Company in a private placement (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Private Placement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) pursuant to the Subscription Agreement (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Subscription Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) between the Investor and the Company.</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Capitalized terms used herein and not otherwise defined shall have the meanings given to them in the Subscription Agreement or the Shareholders Agreement (as defined in the Subscription Agreement), as applicable. The Subscription Agreement, the Shareholders Agreement and the Bye-laws are referred to herein as the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Transaction Documents</font><font style="font-family:inherit;font-size:12pt;">&#8221;.</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties hereto, the parties hereto hereby agree to the definitions above and as follows:</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1.</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#160;&#160;&#160;&#160;Post-7 Year ROFR Waiver</font><font style="font-family:inherit;font-size:12pt;">. Notwithstanding anything contained in the Shareholders Agreement to the contrary, the Company agrees not to exercise its right of first refusal rights under Section 2.2 of the Shareholders Agreement with respect to Transfers by the Investor following the seventh (7</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">th</sup></font><font style="font-family:inherit;font-size:12pt;">) anniversary of the Initial Share Issuan