Common use of COMMENCEMENT AND TERMINATION Clause in Contracts

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January 1, 2005, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January April 1, 20052002, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January June 1, 20052006, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January July 1, 20052004, and remain in force until December 31June 30, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of June 30, 2005 or any Agreement Year June 30th thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January 1, 20052004, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January December 1, 20052002, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January 1, 20052002, and remain in force until December January 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of December 31, 2002 or any Agreement Year December 31 thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January July 1, 20052002, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of June 30, 2003 or at any Agreement Year December 31st thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. Covering the liabilities for Proportionate Share of Net Loss and Net Allocated Loss Adjustment Expenses on Policies attaching on or after 12:01 a.m. (in the time zone in which the Policy is issued), July 1, 2005 (the "Effective Time"). This Exhibit shall apply to Policies issued or renewed Agreement may be terminated on a run-off basis by the Company or its representative by the Reinsurer as of 12:01 a.m. Eastern Standard Time, July 1, 2006 or any July 1 thereafter by one party giving to the other at least 120 days' prior notice of termination (the "Termination Time"). Notice of termination must be provided in writing by certified letter. In addition, this Agreement shall automatically terminate on a run-off basis on or after 12:01 A.M. Eastern Standard Time on January July 1, 20052006, as of the effective time and date of any replacement Comprehensive Automatic Reinsurance Treaty entered into by the Company with respect to the Policies described under "Business and Territory" below. In the event of termination on a run-off basis (and until any termination on a cut-off basis as provided herein), the Reinsurer will be entitled to receive its Proportionate Share of all premiums paid after the Termination Time with respect to, and will remain in force liable for the Reinsurer's Proportionate Share of Losses, Allocated Loss Adjustment Expenses and applicable reserves with respect to, all Policies ceded hereunder prior to the Termination Time until December 31, 2014, but the Reinsurer natural expiration of such Policies. Only the Company shall have the right to terminate the Policies covered by this Exhibit Agreement on a cut-off basis (whether or not this Agreement has been previously terminated on run-off basis) or run-off basis at any time by written notice to the Reinsurer in the event: A. that a Reinsurer Downgrade Event (as defined below) has occurred; provided that the foregoing shall not be deemed an event of termination if the Reinsurer, within 90 days of the occurrence of such Reinsurer Downgrade Event, either (1) restores the Reinsurer's Standard & Poor's and Moody's financial strength ratings and/or financial enhancement ratings to the ratings in effect as of the end Effective Time, or (2) provides such additional security or takes any additional action that restores the reinsurance credit that the Company receives under any Applicable Rating Agency or regulatory method with respect to this Agreement as of the Effective Time, it being agreed that all costs and expenses related to such efforts shall be the sole responsibility of the Reinsurer, B. that the Policyholders' Surplus of the Reinsurer is less than the amount required in order for the Company to be entitled to credit for the reinsurance provided by this Agreement by any Applicable Rating Agency, regulatory body of any jurisdiction in which the Company legally operates or to which it submits its statutory financial statements; or C. there is a breach of any provision of this Agreement Year thereafter by giving at least 90 days the Reinsurer, provided that the Company shall have first given written notice by certified or registered mail. In letter to the event either party terminates this Exhibit in accordance with the paragraph above, Reinsurer of such breach and the Reinsurer shall participate not have cured such breach within 30 Business Days following receipt of such notice from the Company; or D. of a Change in all Policies ceded within the terms of this ExhibitControl (as defined below), including those written or renewed by provided that the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior gives written notice by certified or registered mail letter of its intention to terminate within 120 Business Days of becoming aware of the Change of Control or of receipt of the notice set forth below. The Reinsurer shall be required to notify the Company in writing (by certified letter) of any Change of Control within no more than 15 Business Days after the Reinsurer becomes aware of such reinsuranceChange of Control. If all Reinsurance Premiums For the purposes of this Agreement, a "Change of Control" will be deemed to occur when (x) an individual person, corporation or other entity acquires directly or indirectly more than forty-nine percent (49%) of the voting securities of the Reinsurer or the Reinsurer's intermediate or ultimate parent or obtains the power to vote (directly or through proxies) more than forty-nine percent (49%) of the voting securities of the Reinsurer or the Reinsurer's intermediate or ultimate parent or (y) an individual person, corporation or other entity who is a monoline insurance company who issues financial guarantee or similar policies or a multiline insurance company that issues financial guarantee or similar policies acquires directly or indirectly more than twenty-five percent (25%) of the voting securities of the Reinsurer or the Reinsurer's intermediate or ultimate parent or obtains the power to vote (directly or through proxies) more than twenty-five percent (25%) of the voting securities of the Reinsurer or the Reinsurer's intermediate or ultimate parent; provided, however, that a "Change of Control" shall not be deemed to have occurred pursuant to this paragraph D if (i) such individual person, corporation or other entity is under common control with the Reinsurer or the Reinsurer's intermediate or ultimate parent or (ii) as a result of a merger, exchange offer, or similar transaction, the holders of the voting securities of the ultimate controlling person or persons of the Reinsurer exchange such securities for, or such securities are converted into the right to receive, an equivalent amount of voting securities of a newly-formed holding company; or E. the Reinsurer undertakes, as a new line of business, to write, on a primary basis, financial guaranty or similar policies in arrearsdirect competition with the business the Company is engaged in as of the date of this Agreement; provided that such activities shall expressly not include any reinsurance business, including any which may become due during the 30 day period are not received retrocessions accepted by the Reinsurer before or any financial guaranty or similar policy written incidentally to the expiration Reinsurer's reinsurance business; and provided further that the Company shall have first provided written notice by certified letter to the Reinsurer of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, competitive activity and the liability of requesting that it cease and the Reinsurer shall cease with respect to losses occurring after not have ceased such datebusiness activity within a period of 60 days following receipt of such notice from the Company.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January March 1, 20052003, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January 1, 20052002, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of December 31, 2002 or any Agreement Year December 31 thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed business directly produced by the Company or its representative Xxxxxxxx at or after 12:01 A.M. Eastern Standard Time on January September 1, 20052003, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January 1, 2005, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of December 31, 2005 or any Agreement Year December 31st thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. A. This Exhibit shall apply to Policies issued or renewed by the Company or its representative Agreement is effective at or after 12:01 A.M. a.m., Eastern Standard Time Time, April 1 2006 (the “Effective Date”) and shall have a term of three (3) years. Either party may terminate the Agreement as of the date twelve (12) months after the Effective Date and on January 1the twelve month anniversary thereafter thereafter by giving at least sixty (60) days prior written notice to the other party by certified or registered mail, 2005, and remain in force until December 31, 2014, but the or as otherwise provid3ed below. B. The Reinsurer shall have the right to terminate this Exhibit Agreement as of the end of any Agreement Year date twenty four (24) months after the Effective Date and annually thereafter by giving at least 90 sixty (60) days prior written notice by certified or registered mailmail to the Company if the sum of the Net Loss Ratio plus (weighted) ceding commission percentage hereunder for the Business Covered hereunder since the Effective Date equals or exceeds 99 % at the end of the calendar quarter immediately preceding the date of such notice. If the parties cannot agree as to the calculation of the Net Loss Ratio or ceding commission, within 30 days of receiving the appropriate report, the calculation shall be arbitrated. The actuarial firm of Towers Xxxxxx shall furnish an arbiter for Company and Reinsurer will choose another actuarial firm to furnish its arbiter. Those two arbiters will select a third independent actuarial firm to furnish the third arbiter. However, it is agreed that in the event of termination by Reinsurer pursuant to this provision, the parties will act reasonably to negotiate a new reinsurance agreement on terms similar to those then being offered by other reinsurers. C. In the event either party terminates this Exhibit Agreement in accordance with the paragraph Paragraph A. or B. above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those Agreement written or renewed by the Company after receipt of notice of cancellation termination but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. HoweverAgreement; however, the liability of the Reinsurer shall cease with respect to losses occurring Loss Occurrences subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve (12) months after such termination. If The Company and the Reinsurer may agree to terminate this Agreement or some portion of the Business Covered on a cut-off basis. Upon such termination, the Reinsurer shall incur no liability for Loss Occurrences subsequent to the effective date of termination and the Reinsurer shall return to the Company the Reinsurer’s portion of the unearned premium reserve for all in force Policies less previously paid Ceding Commission on such unearned premium reserve. D. Either the Company or the Reinsurer may terminate this Agreement at any Policy issued time by the giving of thirty (30) days prior written notice to the other party upon the happening of any one of the following circumstances: (1) A State Insurance Department or other legal authority orders the other party to cease writing business, or; (2) The other party has become merged with, acquired or controlled by any company, corporation, or individual(s) not controlling the party’s operations previously, or (3) The other party has reinsured its entire liability under this Agreement without the terminating party’s prior written consent, or (4) The Company and covered ceases to retain any of the risks of the Business Covered. E. The Company may terminate this Agreement immediately upon the happening of any of the following circumstances: (1) The Reinsurer has become insolvent or has been placed into liquidation or receivership (whether voluntary or involuntary), or there has been instituted against it proceedings for the appointment of a receiver, liquidator, rehabilitator, conservator, or trustee in bankruptcy, or other agent known by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, howeverwhatever name, to any liability take possession of its assets or control of its operations, or (2) The Reinsurer’s statutory policyholders’ surplus has been reduced by either 50% of the amount of surplus at the inception of this Agreement or 50% of the amount at the latest anniversary, whichever is greater, or has lost any part of, or has reduced its paid-up capital, or F. The Company under may terminate this Agreement upon thirty (30) days notice if the terminated Policy not to extend beyond A.M. Best Rating of the contractual obligations of such Policy. Reinsurer falls below “A-”. G. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of any such termination under such conditionsD., i.e.E. or F., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease be terminated in accordance with respect the termination provisions set forth in Paragraph C. above. However, if the terminating party is the Company, the Company shall have the right, by the giving of prior written notice, to losses occurring after such dateterminate this Agreement on a cut-off basis as provided in Paragraph C. above.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January July 1, 20052002, and remain in force until December 31June 30, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of June 30, 2003 or any Agreement Year June 30th thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. A. This Exhibit AGREEMENT shall apply to Policies issued or renewed by new and renewal policies of the Company or its representative COMPANY becoming effective at or and after 12:01 A.M. Eastern A.M., Standard Time on Time, January 1, 2005, 1996 and remain to policies of the COMPANY in force until at 12:01 A.M., Standard Time, January 1, 1996 with respect to claims or losses resulting from occurrences taking place at and after the aforesaid time and date. B. This AGREEMENT may be terminated as of 12:00 Midnight, Standard Time, December 31, 2014, but 1996 or any December 31st thereafter by either party sending to the Reinsurer other 90 days advance notice of such termination by registered or certified mail to its principal office. The non-cancelling party shall have the right option to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified elect either run-off or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to cut-off termination, and shall remain liable for all cessions in force at . C. Upon termination of this Exhibit. HoweverAGREEMENT on a cut-off basis, the REINSURER shall not be liable for claims or losses resulting from occurrences taking place after the effective time and date of termination. D. Upon termination of this AGREEMENT on a run-off basis, the liability of the Reinsurer shall cease REINSURER with respect to claims or losses occurring subsequent resulting from occurrences taking place after the effective time and date of termination on policies in force at the time and date of termination shall continue until the expiration, cancellation, or next anniversary date, not to exceed one year, of each such policy of the COMPANY, whichever occurs first. As of the date of termination, the premium rate, as set forth in the Exhibits attached hereto, shall be applied to the first anniversary, natural expiration or cancellation of each Policy ceded, but not COMPANY’s Direct Subject Casualty Unearned Premium Reserve corresponding to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such runoff period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability balance due either party shall be paid as specified in said Exhibits. Should at any time the REINSURER or the COMPANY as regards to the applicability of each condition to each or both of the Reinsurer respective parties: 1. Default in payment due under the terms of this AGREEMENT; 2. Cause an intentional material breach of any term or condition of this AGREEMENT; 3. Cease writing new or renewal business and/or withdraw from the business of insurance; 4. Effect a reduction in the net retained liability without the consent of the other party; 5. Reduce paid-in capital for any reason whatsoever; 6. Change its existing ownership, management or financial operating structure by: a. selling all or substantially all of its assets b. effecting a change in ownership of 10% or more of its stock c. effecting a pertinent change in management d. amalgamating with or having its shares purchased by any other company, corporation, individual or individuals altering the control of its existing ownership and/or management; 7. Have its financial condition impaired by a reduction in policyholder’s surplus of 25% or more in any 12-month or less period from the inception date of this AGREEMENT; 8. File a petition for bankruptcy or have proceedings instituted or filed against them by any insurance regulatory authority for insolvency, receivership, liquidation, rehabilitation, conservation, or dissolution; this AGREEMENT may be terminated by either party sending to the other by registered or certified mail to its principal office, notice stating the time and date when, not less than 30 days after the date of mailing of such notice, termination shall cease with respect to be effective. Upon termination of this AGREEMENT under the conditions set forth in this article, the REINSURER shall not be liable for losses occurring on or after such datethe effective time and date of termination. The REINSURER shall return to the COMPANY the reinsurance premium unearned, if any, calculated on the pro rata basis, for the coverage period elapsed.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January February 1, 20052002, and remain in force until December January 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of January 31, 2003 or any Agreement Year January 31 thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January June 1, 20052002, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January October 1, 20052007, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January May 1, 20052004, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year December 31st thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January 1, 20052003, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January 1, 20052006, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of December 31, 2006 or any Agreement Year December 31st thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January July 1, 2005, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January October 1, 20052009, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January February 1, 20052006, and remain in force until December January 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January March 1, 20052002, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of December 31, 2003 or any Agreement Year December 31st thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. A. This Exhibit Contract shall apply become effective on May 1, 2004, with respect to Policies issued losses under policies allocated to underwriting years commencing on or renewed after that date, and shall continue in force thereafter until terminated. B. Either party may terminate this Contract on any April 30 by giving the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January 1not less than 90 days prior written notice by certified mail, 2005return receipt requested. C. Notwithstanding the provisions of paragraph B above, and remain in force until December 31, 2014, but the Reinsurer shall have the right to either party may terminate this Exhibit as Contract at any time in the event any of the end of any Agreement Year thereafter by giving at least 90 following circumstances occur: 1. After not less than 30 days written notice by the Reinsurer or the Company in the event the Reinsurer, Company or General Agent: a. Is acquired and/or merged by or in any manner becomes under the control of any other company or corporation; b. Is placed in or under supervision by any state insurance department having jurisdiction. 2. After not less than 30 days written notice by the Reinsurer or the Company, in the event of breach of conditions, fraud or default by the other party under the terms and conditions of this Contract. 3. By the Company, immediately and automatically without prior written notice, should the Florida Department of Insurance require cancellation or disallow credit for this reinsurance. 4. Upon written notice by the Reinsurer, if the Company fails to fulfill its obligations under this Contract, a 30 day “cure period” shall be provided the Company, during which time the Company shall come into compliance with its obligations under this Contract. The Special Notice of Termination shall be rescinded automatically by the Reinsurer if the Company comes into compliance with its obligations under this Contract during the “cure period.” Notices hereunder shall be provided by certified or registered mail. In , return receipt requested, and notice shall be deemed to have been provided on the date of mailing. D. Unless the Company elects to reassume the ceded unearned premium in force on the effective date of termination, and so notifies the Reinsurer prior to or as promptly as possible after the effective date of termination, reinsurance hereunder on business in force on the effective date of termination shall remain in full force and effect until expiration, cancellation or next premium anniversary of such business, whichever first occurs, but in no event beyond 12 months following the effective date of termination. E. Notwithstanding the provisions of paragraph D above, in the event either party terminates that any policy subject to this Exhibit Contract is required by statute, regulation or by order of an insurance department to be continued in accordance with the paragraph aboveforce, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not agrees to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated coverage hereunder with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of policy until such Policy. In the event of policy may be cancelled or non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received renewed by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such dateCompany.

COMMENCEMENT AND TERMINATION. A. This Exhibit shall apply to Policies issued or renewed by the Company or its representative Agreement is effective at or after 12:01 A.M. a.m., Eastern Standard Time on January Time, April 1, 20052006 (the “Effective Date”) and shall have a term of three (3) years. Either party may terminate the Agreement as of the date twelve (12) months after the Effective Date and on the twelve month anniversary thereafter thereafter by giving at least sixty (60) days prior written notice to the other party by certified or registered mail, and remain in force until December 31, 2014, but the or as otherwise provided below. B. The Reinsurer shall have the right to terminate this Exhibit Agreement as of the end of any Agreement Year date twenty four (24) months after the Effective Date and annually thereafter by giving at least 90 sixty (60) days prior written notice by certified or registered mailmail to the Company if the sum of the Net Loss Ratio plus (weighted) ceding commission percentage hereunder for the Business Covered hereunder since the Effective Date equals or exceeds 99 % at the end of the calendar quarter immediately preceding the date of such notice. If the parties cannot agree as to the calculation of the Net Loss Ratio or ceding commission, within 30 days of receiving the appropriate report, the calculation shall be arbitrated. The actuarial firm of Towers Xxxxxx shall furnish an arbiter for Company and Reinsurer will choose another actuarial firm to furnish its arbiter. Those two arbiters will select a third independent actuarial firm to furnish the third arbiter. However, it is agreed that in the event of termination by Reinsurer pursuant to this provision, the parties will act reasonably to negotiate a new reinsurance agreement on terms similar to those then being offered by other reinsurers. C. In the event either party terminates this Exhibit Agreement in accordance with the paragraph Paragraph A. or B. above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those Agreement written or renewed by the Company after receipt of notice of cancellation termination but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. HoweverAgreement; however, the liability of the Reinsurer shall cease with respect to losses occurring Loss Occurrences subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve (12) months after such termination. If The Company and the Reinsurer may agree to terminate this Agreement or some portion of the Business Covered on a cut-off basis. Upon such termination, the Reinsurer shall incur no liability for Loss Occurrences subsequent to the effective date of termination and the Reinsurer shall return to the Company the Reinsurer’s portion of the unearned premium reserve for all in force Policies less previously paid Ceding Commission on such unearned premium reserve. D. Either the Company or the Reinsurer may terminate this Agreement at any Policy issued time by the giving of thirty (30) days prior written notice to the other party upon the happening of any one of the following circumstances: (1) A State Insurance Department or other legal authority orders the other party to cease writing business, or; (2) The other party has become merged with, acquired or controlled by any company, corporation, or individual(s) not controlling the party’s operations previously, or (3) The other party has reinsured its entire liability under this Agreement without the terminating party’s prior written consent, or (4) The Company ceases to retain any of the risks of the Business Covered. E. The Company may terminate this Agreement immediately upon the happening of any of the following circumstances: (1) The Reinsurer has become insolvent or has been placed into liquidation or receivership (whether voluntary or involuntary), or there has been instituted against it proceedings for the appointment of a receiver, liquidator, rehabilitator, conservator, or trustee in bankruptcy, or other agent known by whatever name, to take possession of its assets or control of its operations, or (2) The Reinsurer’s statutory policyholders’ surplus has been reduced by either 50% of the amount of surplus at the inception of this Agreement or 50% of the amount at the latest anniversary, whichever is greater, or has lost any part of, or has reduced its paid-up capital, or F. The Company may terminate this Agreement upon thirty (30) days notice if the A.M. Best Rating of the Reinsurer falls below “A-” G. Notwithstanding the foregoing, this Agreement will terminate upon the effective date of a Specialty Program Business Pooling Agreement between the Company and covered CastlePoint Insurance Company or such other entity designated by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. Reinsurer. H. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of any such termination under such conditionsD., i.e.E., for nonpayment of premiums onlyor F., the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease be terminated in accordance with respect the termination provisions set forth in Paragraph C. above. However, in the case of a termination under D or E, if the terminating party is the Company, the Company shall have the right, by the giving of prior written notice, to losses occurring after such dateterminate this Agreement on a cut-off basis as provided in Paragraph C. above.

COMMENCEMENT AND TERMINATION. A. This Exhibit shall apply to Policies issued or renewed by the Company or its representative Agreement is effective at or after 12:01 A.M. a.m., Eastern Standard Time on January Time, April 1, 20052006 (the “Effective Date”) and shall have a term of three (3) years. Either party may terminate the Agreement as of the date twelve (12) months after the Effective Date and on the twelve month anniversary thereafter by giving at least sixty (60) days prior written notice to the other party by certified or registered mail, and remain in force until December 31, 2014, but the or as otherwise provided below. B. The Reinsurer shall also have the right to terminate this Exhibit Agreement as of the end of any Agreement Year thereafter date twenty four (24) months after the Effective Date by giving at least 90 sixty (60) days prior written notice by certified or registered mailmail to the Company if the sum of the Net Loss Ratio plus (weighted) ceding commission percentage hereunder for the Business Covered hereunder since the Effective Date equals or exceeds 99 % at the end of the calendar quarter immediately preceding the date of such notice. If the parties cannot agree as to the calculation of the Net Loss Ratio or ceding commission, within 30 days of receiving the appropriate report, the calculation shall be arbitrated. The actuarial firm of Towers Xxxxxx shall furnish an arbiter for Company and Reinsurer will choose another actuarial firm to furnish its arbiter. Those two arbiters will select a third independent actuarial firm to furnish the third arbiter. However, it is agreed that in the event of termination by Reinsurer pursuant to this provision, the parties will act reasonably to negotiate a new reinsurance agreement on terms similar to those then being offered by other reinsurers. C. In the event either party terminates this Exhibit Agreement in accordance with the paragraph Paragraph A,or B. above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those Agreement written or renewed by the Company after receipt of notice of cancellation termination but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. HoweverAgreement; however, the liability of the Reinsurer shall cease with respect to losses occurring Loss Occurrences subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If The Company and the Reinsurer may agree to terminate this Agreement or some portion of the Business Covered on a cut-off basis. Upon such termination, the Reinsurer shall incur no liability for Loss Occurrences subsequent to the effective date of termination and the Reinsurer shall return to the Company the Reinsurer’s portion of the unearned premium reserve for all in force Policies less previously paid Ceding Commission on such unearned premium reserve. D. Either the Company or the Reinsurer may terminate this Agreement at any Policy issued time by the giving of thirty (30) days prior written notice to the other party upon the happening of any one of the following circumstances: (a) A State Insurance Department or other legal authority orders the other party to cease writing business, or; (b) The other party has become merged with, acquired or controlled by any company, corporation, or individual(s) not controlling the party’s operations previously, or (c) The other party has reinsured its entire liability under this Agreement without the terminating party’s prior written consent, or (d) The Company and covered ceases to retain any of the risks of the Business Covered. E. The Company may terminate this agreement immediately upon the happening of any of the following circumstances: (a) The Reinsurer has become insolvent or has been placed into liquidation or receivership (whether voluntary or involuntary), or there has been instituted against it proceedings for the appointment of a receiver, liquidator, rehabilitator, conservator, or trustee in bankruptcy, or other agent known by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, howeverwhatever name, to any liability take possession of its assets or control of its operations, or (b) The Reinsurer’s statutory policyholders’ surplus has been reduced by either 50% of the amount of surplus at the inception of this Agreement or 50% of the amount at the latest anniversary, whichever is greater, or has lost any part of, or has reduced its paid-up capital; F. The Company under may terminate this Agreement upon thirty (30) days notice if the terminated Policy not to extend beyond A.M. Best Rating of the contractual obligations of such Policy. Reinsurer falls below “A-”. G. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of any such termination under such conditionsD., i.e.E or F., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease be terminated in accordance with respect the termination provisions set forth in Paragraph C. above. However, if the terminating party is the Company, the Company shall have the right, by the giving of prior written notice, to losses occurring after such dateterminate this Agreement on a cut-off basis as provided in Paragraph C. above.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January 1, 20052007, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January June 1, 20052003, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January 1, 20052002, and remain in force for until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of December 31, 2002 or any Agreement Year December 31 thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January April 1, 20052002, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of December 31, 2005 or any Agreement Year December 31st thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January March 1, 2005, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit Contract shall apply to Policies issued or renewed by the Company or its representative become effective at or after 12:01 A.M. Eastern 12.01 a.m., Local Standard Time on Time, January 1, 20052003, with respect to losses under policies allocated to underwriting years commencing on or after that date, and remain shall continue in force thereafter until December 31terminated. Runoff is subject to a maximum 18 months, 2014, but the Reinsurer shall have the right to unless Company elects cutoff with return of UEP at termination. Either party may terminate this Exhibit as of the end of Contract on any Agreement Year thereafter January 1 by giving at least the other party not less than 90 days written prior notice by certified or registered mail. In Notwithstanding the event either party terminates this Exhibit in accordance with provisions of the paragraph above, in the Reinsurer shall participate in all Policies ceded within event the terms of this Exhibit, including those written Company is prohibited or renewed precluded by the Company after receipt of notice of appropriate regulatory authorities, or by law (in those states where applicable and enforced), from effecting mid-term cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment renewal of Reinsurance Premiums due under any policies subject to this ExhibitContract beyond their natural expiry, the Reinsurer agrees to extend reinsurance coverage until such policies may be terminated by the Company, but in no event beyond 36 months after the effective date of termination. Underwriting year as used herein shall have mean the right period from 12.01 a.m. January 1, 2003 through December 31, 2003, and each subsequent 12-month period shall be a separate underwriting year. All premiums and losses from policies allocated to terminate reinsurance under this Exhibitan underwriting year shall be credited or charged, respectively, to such underwriting year, regardless of the date said premiums earn or such losses occur. If It is understood that a policy will be allocated to the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums onlyunderwriting year which is in effect as of: 1. As respects all new policies, the Reinsurer effective date of such policies; 2. As respects renewals of one year or less term policies, the renewal date of such policies; 3. As respects continuous or greater than one year term policies, the premium anniversary date of such policies. Such policies shall give remain in the same underwriting year, as originally allocated, until the next renewal date or premium anniversary date, at which time such policies shall be reallocated to the underwriting year in effect as of such date as provided in subparagraphs 2 and 3 above. It is further understood and agreed that the Company 30 days' prior written may reduce or terminate a Subscribing Reinsurer’s participation percentage hereunder at any time by giving notice to the subscribing Reinsurer by certified mail if said subscribing Reinsurer: 1. Is acquired or registered mail controlled by, or merged with any other company; 2. Reinsures its entire business; 3. Acquires the assets and/or liabilities of any other company; 4. Loses the whole or any part of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.paid up capital;

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January March 1, 20052002, and remain in force until December 31February 28, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of February 28, 2003 or any Agreement Year February 28th (or February 29th in leap years) thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued B. Either party may terminate this Contract at any January 1 or renewed July 1 by giving the other party not less than 90 days prior notice in writing. C. Upon termination, the Company may elect a cut-off or its representative at or after 12:01 A.M. Eastern Standard Time run-off basis. 1) Run-off basis" - In the event of termination on January 1a run-off basis, 2005, and the Reinsurer shall remain liable for occurrences arising out of covered policies in force at the date of cancellation until December 31expiration, 2014cancellation or next renewal of such policies, but in no case shall this reinsurance be extended for a period longer than 12 months plus odd time after the date of cancellation of this Contract. 2) Cut-off basis" - In the event of termination on a cut-off basis the Reinsurer shall have no liability with respect to loss occurrences happening after the right to terminate effective time and date of cancellation. If the cut-off basis is elected, upon termination of this Exhibit reinsurance, the Reinsurers shall return the unearned premium, if any, calculated on the monthly pro-rata basis, less the appropriate ceding commission as provided for in Article XII. D. Should at any time the Reinsurer or the Company: 1) Be 100% reinsured without the previous written consent of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit other party; 2) Default in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within payment due under the terms of this Exhibit, including those written Contract if not rendered within 15 days; this provision shall not apply to any items that may be in dispute; 3) Have a reduction of 20% or renewed more of the paid-in capital for any reason whatsoever; 5) Reach mutual agreement to do so; this Contract may be terminated by either the Reinsurer or the Company after receipt of upon giving 30 days notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent writing by certified mail to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policyother party. In the event of non-payment termination under the provision of Reinsurance Premiums due under this Exhibit, paragraph the Reinsurer shall remain liable for losses arising from business written prior to the effective time and date of cancellation, but shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the no liability of the Reinsurer shall cease with respect to losses occurring business written after such that time and date. E. At the Company's request, this Contract may be commuted for any Accident Year at terms To Be Agreed.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January 1, 20052010, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January March 1, 2005, and remain in force until December 31February 28, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the W-1 Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January August 1, 20052012, and remain in force until December 31, 20142019, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter hereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. Y-1 In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January March 1, 20052002, and remain in force until December 31February 28, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of February 28, 2003 or any Agreement Year February 28th (or February 29th in leap years) thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. N-1 In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January April 1, 20052002, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of December 31, 2005 or any Agreement Year December 31st thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. T-1 In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January June 1, 20052004, and remain in force until December May 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of May 31, 2005 or any Agreement Year May 31st thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January August 1, 20052012, and remain in force until December 31, 20142019, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter hereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. FF-1 In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January 1, 2005, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. N-1 In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January 1, 2005, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the O-1 Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January April 1, 20052008, and remain in force until December 31April 1, 20142009, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. A. This Exhibit Contract shall apply to Policies issued or renewed by the Company or its representative incept at or after 12:01 A.M. a.m., Eastern Standard Time on Time, January 1, 20052009, and shall remain in force until December 3112:01 a.m., 2014Eastern Standard Time, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph aboveJanuary 1, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to 2010. B. At termination, and at the Company’s option: 1. The Reinsurers shall remain liable for all cessions Policies in force at termination of this Exhibit. HoweverContract; however, the liability of the Reinsurer Reinsurers shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, whichever first occurs, but not to extend beyond twelve in no event for any losses occurring more than eighteen (18) months after each such termination; (“Run-Off”) or 2. The Reinsurers shall be relieved of all liability hereunder for any losses occurring with a date of loss subsequent to termination of this Contract (“Cut-Off’). The Company shall notify the Reinsurer not more than thirty (30) days after termination whether such termination shall be on a Cut-Off or Run-Off basis. C. The Company shall pay reinsurance premium for any Run-Off period in accordance with the Article entitled PREMIUM of this Contract. If the Company elects the Cut-Off option, the Reinsurers shall refund to the Company any unearned reinsurance premium applicable to the unexpired liability (calculated on a pro rata basis) less any commission allowed by the Reinsurers thereon at conclusion of the Run-Off if B(1) above is elected, or at termination if option B(2) above is elected. The Reinsurers shall continue to be liable for their proportionate share of the outstanding losses (reported or unreported) on Policies ceded hereunder with a date of loss prior to the conclusion of the Run-Off, or termination, as the case may be. D. Should any subject Policy issued be extended, continued, or renewed due to regulatory or other legal restrictions, this Contract shall automatically provide extended coverage at the request of the Company until those Policies are actually terminated by the Company. The Reinsurer shall be entitled to reinsurance premium on such Policies as calculated by the Company in accordance with the terms of this Contract. This provision shall not apply and covered by this Exhibit is terminatedthe Reinsurer will not be liable for longer than the Run-Off period elected above, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In in the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.that the

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January February 1, 20052011, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. EE-1 In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. A. This Agreement shall take effect as of 12:01 a.m., Standard Time, September 1, 2001, and shall, except as otherwise stipulated herein or in any Exhibit hereto or any Endorsement hereof, continue in full force and effect until terminated as hereinafter provided. B. This Agreement may be canceled at any December 31, unless otherwise mutually agreed by either party, giving 90 days notice in writing prior to such date, stating to the other its desire to effect such cancellation. However, this Agreement shall apply not be cancelled prior to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January 1, 20052003. C. In the event of cancellation, and remain in force until December 31, 2014, but the Reinsurer Company shall have the right option to terminate this Exhibit Agreement on a cut-off or run-off basis as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mailfollows: 1. In the event either party terminates this Exhibit in accordance with the paragraph aboveCompany elects to cancel cut-off, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for losses occurring prior to such cancellation date, but all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect terminate hereunder as to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policydate. 2. In the event of nonthe Company elects to cancel run-payment of Reinsurance Premiums due under this Exhibitoff, the Reinsurer shall have remain liable for losses occurring prior to such cancellation date, and any risk covered hereunder and in effect as of said cancellation date shall remain in full force until policy cancellation or natural expiration for a period of time not to exceed twelve months. D. Should this Agreement terminate while a covered loss occurrence is in progress, the right entire loss arising out of such loss occurrence shall be subject to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right Agreement. E. Every notice of termination under shall be given by certified letter addressed to the intended recipient at such conditions, i.e., for nonpayment recipient's address as hereinabove set forth. In determining whether the requisite number of premiums onlydays' notice has been given in any case, the Reinsurer date of termination shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on counted but the date for which premiums were last paidof mailing shall not. F. Notwithstanding the termination of this Agreement as hereinabove provided, the provisions of this Agreement shall continue to apply to all unfinished business hereunder to the end that all obligations and the liability of the Reinsurer liabilities incurred by each party hereunder prior to such termination shall cease with respect to losses occurring after such datebe fully performed and discharged.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January October 1, 20052007, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. CC-1 In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January 1, 20052011, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. DD-1 In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. A. This Exhibit Contract shall incept at 12:01 a.m., Local Standard Time, January 1, 2001 at the location of the risk, and shall apply to Policies issued or renewed by the Company or its representative at new and renewal policies attaching on or after 12:01 A.M. Eastern Standard Time on January 1, 20052001, and shall remain in force until December 31, 2014for an indefinite period, but the Reinsurer either party shall have the right to terminate this Exhibit as of the end of cancel on any Agreement Year thereafter January 1 by giving at least 90 ninety (90) days prior written notice by certified or registered mail. The first Contract Year shall be the period of January 1, 2001 through January 1, 2002 and each such annual period thereafter shall constitute a separate Contract Year. B. In the event either party terminates this Exhibit in accordance with of the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms termination of this ExhibitContract, including those written or renewed by at the Company after receipt of notice of cancellation but prior to termination, and Reassured's option: 1. The Reinsurers shall remain liable for all cessions in force at termination of this Exhibit. HoweverContract; however, the liability of the Reinsurer Reinsurers shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy policy ceded, whichever first occurs, but not to extend beyond in no event for any losses occurring more than twelve months after each such termination; and the Reassured shall continue to pay the reinsurance premium earned on policies covered hereunder as described in the Accounts and Reports Article; or 2. If The Reinsurers shall be relieved of all liability hereunder for any Policy issued losses occurring subsequent to termination of this Contract. However, the Reinsurers shall continue to be liable for their proportionate share of the outstanding losses (reported or unreported) on policies covered hereunder with a date of loss prior to termination. The Reassured shall not remit any additional premium, earned subsequent to termination, on policies covered hereunder. The Reinsurers shall refund to the Reassured the unearned reinsurance premium applicable to the unexpired liability (calculated on a pro rata basis) less the commission allowed by the Company and Reinsurers thereon. C. If this Contract is terminated while a loss covered by hereunder is in progress, it is agreed that, subject to the other conditions of this Exhibit is terminatedContract, the reinsurance Reinsurers shall also indemnify the Reassured as if the entire loss had occurred during the term of this Contract. D. Notwithstanding any other provision of this Contract, in the event that any policy is required by statute or departmental regulation or order to be terminated continued in force, the Reinsurers will continue to remain liable with respect to each such Policypolicy until the Reassured may legally cancel, subjectnon-renew or otherwise eliminate liability under such policy or policies. E. Notwithstanding the above, howevereither the Reassured or the Reinsurers may terminate this Contract at any time by the giving of 30 days notice in writing to the other party upon the happening of any one of the following circumstances: 1. A State Insurance Department or other legal authority orders the other party to cease writing business; or 2. The other party becomes insolvent or is placed into liquidation or receivership (whether voluntary or involuntary), or proceedings are instituted against it for the appointment of a receiver, liquidator, rehabilitator, conservator, trustee in bankruptcy or other agent known by whatever name, to take possession of its assets or control of its operations; or 3. The other party's policyholders' surplus as of December 31, 2000 is reduced by more than 20% during the term of this Contract; or 4. The other party becomes merged with, acquired or controlled by any company, corporation or individual(s) not controlling the party's operations at the inception of this Contract; or 5. The other party's A.M. Best rating is downgraded below B-; or 6. The other party reinsures its entire liability of under this Contract without the Company under the terminated Policy not to extend beyond the contractual obligations of such Policyother party's prior written consent. In the event of non-payment termination of Reinsurance Premiums due this Contract under the terms of this Exhibitparagraph, the Reinsurer Reinsurers liability shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums be terminated in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease accordance with respect to losses occurring after such dateparagraph B. above.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January July 1, 20052006, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the X-1 Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. A. This Exhibit shall apply to Policies issued or renewed by the Company or its representative Agreement is effective at or after 12:01 A.M. a.m., Eastern Standard Time on January 1Time, 2005April 4, 2006 (the “Effective Date”). Either party may terminate the Agreement as of the date thirty six (36) months after the Effective Date and remain in force until December 31, 2014, but annually thereafter by giving at least six (6) months prior written notice to the other party by certified or registered mail. B. The Reinsurer shall have the right to terminate this Exhibit Agreement as of the end of any Agreement Year date twenty four (24) months after the Effective Date and annually thereafter by giving at least 90 sixty (60) days prior written notice by certified or registered mailmail to the Company if the sum of the Net Loss Ratio plus (weighted) ceding commission percentage hereunder for the Business Covered hereunder since the Effective Date equals or exceeds 99 % at the end of the calendar quarter immediately preceding the date of such notice. If the parties cannot agree as to the calculation of the Net Loss Ratio or ceding commission, within 30 days of receiving the appropriate report, the calculation shall be arbitrated. The actuarial firm of Towers Xxxxxx shall furnish an arbiter for Company and Reinsurer will choose another actuarial firm to furnish its arbiter. Those two arbiters will select a third independent actuarial firm to furnish the third arbiter. However, it is agreed that in the event of termination by Reinsurer pursuant to this provision, the parties will act reasonably to negotiate a new reinsurance agreement on terms similar to those then being offered by other reinsurers. C. In the event either party terminates this Exhibit Agreement in accordance with the paragraph Paragraph A. or B. above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those Agreement written or renewed by the Company after receipt of notice of cancellation termination but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. HoweverAgreement; however, the liability of the Reinsurer shall cease with respect to losses occurring Loss Occurrences subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve (12) months after such termination. If The Company and the Reinsurer may agree to terminate this Agreement or some portion of the Business Covered on a cut-off basis. Upon such termination, the Reinsurer shall incur no liability for Loss Occurrences subsequent to the effective date of termination and the Reinsurer shall return to the Company the Reinsurer’s portion of the unearned premium reserve for all in force Policies less previously paid Ceding Commission on such unearned premium reserve. D. Either the Company or the Reinsurer may terminate this Agreement at any Policy issued time by the Company and covered giving of thirty (30) days prior written notice to the other party upon the happening of any one of the following circumstances: (a) A State Insurance Department or other legal authority orders the other party to cease writing business, or; (b) The other party has become insolvent or has been placed into liquidation or receivership (whether voluntary or involuntary), or there has been instituted against it proceedings for the appointment of a receiver, liquidator, rehabilitator, conservator, or trustee in bankruptcy, or other agent known by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, howeverwhatever name, to any liability take possession of its assets or control of its operations, or (c) The other party’s statutory policyholders’ surplus has been reduced by either 50% of the amount of surplus at the inception of this Agreement or 50% of the amount at the (d) The other party has become merged with, acquired or controlled by any company, corporation, or individual(s) not controlling the party’s operations previously, or (e) The other party has reinsured its entire liability under this Agreement without the terminating party’s prior written consent, or (f) The Company under ceases to retain any of the terminated Policy not to extend beyond risks of the contractual obligations Business Covered. E. The Company may terminate this Agreement upon thirty (30) days notice if the A.M. Best Rating of such Policy. the Reinsurer falls below “A-”. F. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of any such termination under such conditionsD or E, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease be terminated in accordance with respect the termination provisions set forth in Paragraph C. above. However, if the terminating party is the Company, the Company shall have the right, by the giving of prior written notice, to losses occurring after such dateterminate this Agreement on a cut-off basis as provided in Paragraph C above.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January June 1, 20052006, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. Y-1 In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply Agreement takes effect at 12:01 a.m. on the Commencement Date and applies to Policies issued incepting on or renewed by the Company or its representative at with renewal dates on or after 12:01 A.M. Eastern Standard Time on January 1, 2005, and the Commencement Date. This Agreement shall remain in full force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as and effect unless canceled at 12:01 a.m. on any subsequent anniversary of the end of any Agreement Year thereafter Commencement Date by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent giving to the first anniversary, natural expiration or cancellation of each Policy ceded, but other not to extend beyond twelve less than twenty-four (24) months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policyprior notice in writing. In the event of cancellation of this Agreement, all ceded Policies in force as of the effective time and date of cancellation including any written during the period of notice shall remain covered under this Agreement until their earliest individual lawful non-payment of Reinsurance Premiums due under this Exhibitrenewal or termination, the whichever occurs first. Reinsurer shall have follow the right fortunes of the Reinsured with respect to terminate reinsurance under this Exhibit. If the cancellation or non-renewal of any Policies, it being the intention that the liability of Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If continue until all Reinsurance Premiums in arrearsceded Policies and legally required renewals thereof expire, including any endorsements, including discovery, which extend coverage under these policies. The Policies shall be allocated to separate Agreement Years, each for twelve months commencing at 12:01 a.m. on the Commencement Date and each anniversary date thereof. Policy renewals shall be allocated to the Agreement Year in which the renewal incepts. Discovery period endorsements and extended reporting endorsements shall be allocated to the same Agreement Year as the expiring Policies to which they attach. On or after the first anniversary of the Commencement Date, the Schedules attached to the Program Manager Agreement may become due during the 30 day period are not received be amended by the Reinsurer before on behalf of the expiration Reinsured provided that such amendments do not alter the rights and obligations found in the body of such periodthe Program Manager Agreement to which the Schedules are attached and provided they do not contravene any legal or regulatory requirement to which the Reinsured is subject, which has been confirmed in writing by the Reinsured. Amendments to the Schedules attached to the Program Manager Agreement shall be subject to the terms of the Program Manager Agreement governing amendments. In addition to the above, at January 1, 2001 and each anniversary date thereof, the rates to be used for Policies subject to this Agreement during the subsequent twelve (12) month period shall be agreed by Reinsurers. Should the Reinsurers and the Program Manager be unable to mutually agree the rates, this Exhibit will Agreement shall be considered terminated on at the anniversary date for which premiums were last paid, and by either party giving to the liability of the Reinsurer shall cease with respect to losses occurring after such dateother not less than one hundred twenty (120) days prior notice in writing.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January June 1, 20052004, and remain in force until December May 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of May 31, 2005 or any Agreement Year May 31st thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. O-1 In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January October 1, 20052007, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. T-1 In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. A. This Exhibit shall apply to Policies issued or renewed by the Company or its representative Agreement is effective at or after 12:01 A.M. a.m., Eastern Standard Time on January 1Time, 2005April 5, 2006 (the “Effective Date”). Either party may terminate the Agreement as of the date thirty six (36) months after the Effective Date and remain in force until December 31, 2014, but annually thereafter by giving at least six (6) months prior written notice to the other party by certified or registered mail. B. The Reinsurer shall have the right to terminate this Exhibit Agreement as of the end of any Agreement Year date twenty four (24) months after the Effective Date and annually thereafter by giving at least 90 sixty (60) days prior written notice by certified or registered mailmail to the Company if the sum of the Net Loss Ratio plus (weighted) ceding commission percentage hereunder for the Business Covered hereunder since the Effective Date equals or exceeds 99 % at the end of the calendar quarter immediately preceding the date of such notice. If the parties cannot agree as to the calculation of the Net Loss Ratio or ceding commission, within 30 days of receiving the appropriate report, the calculation shall be arbitrated. The actuarial firm of Towers Xxxxxx shall furnish an arbiter for Company and Reinsurer will choose another actuarial firm to furnish its arbiter. Those two arbiters will select a third independent actuarial firm to furnish the third arbiter. However, it is agreed that in the event of termination by Reinsurer pursuant to this provision, the parties will act reasonably to negotiate a new reinsurance agreement on terms similar to those then being offered by other reinsurers. C. In the event either party terminates this Exhibit Agreement in accordance with the paragraph Paragraph A. or B. above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those Agreement written or renewed by the Company after receipt of notice of cancellation termination but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. HoweverAgreement; however, the liability of the Reinsurer shall cease with respect to losses occurring Loss Occurrences subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If The Company and the Reinsurer may agree to terminate this Agreement or some portion of the Business Covered on a cut-off basis. Upon such termination, the Reinsurer shall incur no liability for Loss Occurrences subsequent to the effective date of termination and the Reinsurer shall return to the Company the Reinsurer’s portion of the unearned premium reserve for all in force Policies less previously paid Ceding Commission on such unearned premium reserve. D. Either the Company or the Reinsurer may terminate this Agreement at any Policy issued time by the Company and covered giving of thirty (30) days prior written notice to the other party upon the happening of any one of the following circumstances: (a) A State Insurance Department or other legal authority orders the other party to cease writing business, or; (b) The other party has become insolvent or has been placed into liquidation or receivership (whether voluntary or involuntary), or there has been instituted against it proceedings for the appointment of a receiver, liquidator, rehabilitator, conservator, or trustee in bankruptcy, or other agent known by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, howeverwhatever name, to any liability take possession of its assets or control of its operations, or (c) The other party’s statutory policyholders’ surplus has been reduced by either 50% of the amount of surplus at the inception of this Agreement or 50% of the amount at the latest anniversary, whichever is greater, or has lost any part of, or has reduced its paid-up capital, or (d) The other party has become merged with, acquired or controlled by any company, corporation, or individual(s) not controlling the party’s operations previously, or (e) The other party has reinsured its entire liability under this Agreement without the terminating party’s prior written consent, or (f) The Company under ceases to retain any of the terminated Policy not to extend beyond risks of the contractual obligations Business Covered. E. The Company may terminate this Agreement upon thirty (30) days notice if the A.M. Best Rating of such Policy. the Reinsurer falls below “A-”. F. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of any such termination under such conditionsD. or E., i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease be terminated in accordance with respect the termination provisions set forth in Paragraph C. above. However, if the terminating party is the Company, the Company shall have the right, by the giving of prior written notice, to losses occurring after such dateterminate this Agreement on a cut-off basis as provided in Paragraph C. above.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January September 1, 20052011, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January August 1, 20052006, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January July 1, 20052006, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January April 1, 20052008, and remain in force until December 31April 1, 20142009, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. BB-1 In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January August 1, 20052006, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. AA-1 In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January March 1, 2005, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the P-1 Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.

COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January March 1, 2005, and remain in force until December 31February 28, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.