NI Holdings, Inc. Sample Contracts

AMENDED AND RESTATED EMPLOYMENT AGREEMENT
Employment Agreement • August 8th, 2023 • NI Holdings, Inc. • Fire, marine & casualty insurance • North Dakota

THIS AMENDED AND RESTATED AGREEMENT (“Agreement”) is made as of this 8th day of August, 2023 (the “Effective Date”), between NI Holdings, Inc., a North Dakota business corporation, (the “Corporation”), NODAK Insurance Company, a North Dakota insurance company (the “Company”), and Seth C. Daggett, an adult individual (“Executive”).

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NI HOLDINGS, INC. Adjusted Return on Equity Performance Share Unit Agreement
Performance Share Unit Agreement • March 15th, 2024 • NI Holdings, Inc. • Fire, marine & casualty insurance • North Dakota

THIS PERFORMANCE SHARE UNIT AGREEMENT (this “Agreement”) governs the Stock Unit Award granted by NI HOLDINGS, INC., a North Dakota corporation (the “Company”) to the above-named individual (the “Participant”), in accordance with and subject to the provisions of the Company’s 2020 Stock and Incentive Plan (the “Plan”). A copy of the Plan has been made available to the Participant. Unless the context indicates otherwise, capitalized terms that are not defined in this Agreement shall have the meaning set forth in the Plan.

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ESCROW AGREEMENT
Escrow Agreement • November 14th, 2016 • NI Holdings, Inc. • Fire, marine & casualty insurance • Delaware

THIS ESCROW AGREEMENT (this “Escrow Agreement”), dated as of November __, 2016, is entered into by and among NI Holdings, Inc., a North Dakota corporation (the “Company”), Nodak Mutual Insurance Company, a North Dakota mutual insurance company (“Nodak Mutual”), Griffin Financial Group LLC (the “Placement Agent”) and Christiana Trust, a division of Wilmington Savings Fund Society, FSB, (“WSFS Bank”) as escrow agent (the “Escrow Agent”).

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NI HOLDINGS, INC. Time Based Restricted Stock Unit Agreement for Executives
Time Based Restricted Stock Unit Agreement • March 9th, 2022 • NI Holdings, Inc. • Fire, marine & casualty insurance • North Dakota

THIS RESTRICTED STOCK UNIT AGREEMENT (this “Agreement”) governs the Stock Unit Award granted by NI HOLDINGS, INC., a North Dakota corporation (the “Company”) to the above named individual (the “Participant”), in accordance with and subject to the provisions of the Company’s 2020 Stock and Incentive Plan (the “Plan”). A copy of the Plan has been made available to the Participant. Unless the context indicates otherwise, capitalized terms that are not defined in this Agreement shall have the meaning set forth in the Plan.

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NI Holdings, Inc. Up to 10,350,000 Shares COMMON STOCK ($0.01 Par Value) Subscription Price $10.00 Per Share AGENCY AGREEMENT
Agency Agreement • October 11th, 2016 • NI Holdings, Inc. • Fire, marine & casualty insurance • Pennsylvania
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NI HOLDINGS, INC. Time-Based Restricted Stock Unit Agreement for Non-Employee Directors
Restricted Stock Unit Agreement • May 29th, 2020 • NI Holdings, Inc. • Fire, marine & casualty insurance • North Dakota

THIS RESTRICTED STOCK UNIT AGREEMENT (this “Agreement”) governs the Stock Unit Award granted by NI HOLDINGS, INC., a North Dakota corporation (the “Company”) to the above-named individual (the “Participant”), in accordance with and subject to the provisions of the Company’s 2020 Stock and Incentive Plan (the “Plan”). A copy of the Plan has been made available to the Participant. Unless the context indicates otherwise, capitalized terms that are not defined in this Agreement shall have the meaning set forth in the Plan.

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NI HOLDINGS, INC. Time-Based Restricted Stock Unit Agreement for Non-Employee Directors
Time-Based Restricted Stock Unit Agreement • March 7th, 2018 • NI Holdings, Inc. • Fire, marine & casualty insurance • North Dakota

THIS RESTRICTED STOCK UNIT AGREEMENT (this “Agreement”) governs the Stock Unit Award granted by NI HOLDINGS, INC., a North Dakota corporation (the “Company”) to the above-named individual (the “Participant”), in accordance with and subject to the provisions of the Company’s 2017 Stock and Incentive Plan (the “Plan”). A copy of the Plan has been made available to the Participant. Unless the context indicates otherwise, capitalized terms that are not defined in this Agreement shall have the meaning set forth in the Plan.

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STOCK PURCHASE AGREEMENT among NI HOLDINGS, INC. and the Selling Holders named herein, THE ULTIMATE OWNER NAMED HEREIN, and JOSEPH FITZGERALD dated as of May 31, 2018
Stock Purchase Agreement • September 5th, 2018 • NI Holdings, Inc. • Fire, marine & casualty insurance • Illinois

This Stock Purchase Agreement (this “Agreement”), dated as of May 31, 2018, is entered into by and among NI Holdings, Inc., a North Dakota corporation (“Buyer”) and Martin W. Joseph, The Lutz Corporation (f/k/a Nationwide Acceptance Corporation), and Fitzgerald, Inc., (each a “Selling Holder” and collectively the “Seller”), Joseph Fitzgerald (the “Stockholder Representative”), and Joseph Fitzgerald (the “Ultimate Owner”).

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STOCK PURCHASE AGREEMENT between NI HOLDINGS, INC. and SCOTT INSURANCE HOLDINGS, LLC dated as of May 7, 2024
Stock Purchase Agreement • May 8th, 2024 • NI Holdings, Inc. • Fire, marine & casualty insurance • North Dakota

This Stock Purchase Agreement (this “Agreement”), dated as of May 7, 2024, is entered into by and between NI Holdings, Inc., a North Dakota corporation (“Seller”), and Scott Insurance Holdings, LLC, a Maryland limited liability company (“Buyer”).

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AFFILIATION AGREEMENT
Affiliation Agreement • October 11th, 2016 • NI Holdings, Inc. • Fire, marine & casualty insurance

WHEREAS Battle Creek Mutual Insurance Company (“BCMI”) and Nodak Mutual Insurance Company (“NMI”) believe an affiliation between the two companies, pursuant to the terms of this Agreement, are in the best interests of the policyholders of both companies;

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SEPARATION AGREEMENT AND RELEASE
Separation Agreement • December 3rd, 2024 • NI Holdings, Inc. • Fire, marine & casualty insurance • North Dakota

This Separation Agreement and Release (“Agreement”) is made by and between NI Holdings, Inc., a North Dakota corporation, Nodak Insurance Company, a North Dakota insurance company (the “Company”), and Patrick W. Duncan, an individual (“Executive”) (Executive and Company are sometimes each referred to in this Agreement as a “Party” and together as the “Parties”).

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EMPLOYMENT AGREEMENT
Employment Agreement • August 26th, 2024 • NI Holdings, Inc. • Fire, marine & casualty insurance • North Dakota

THIS AGREEMENT (“Agreement”) is made effective as of August 26, 2024 (the “Effective Date”), between NI Holdings, Inc., a North Dakota business corporation, (the “Corporation”), NODAK Insurance Company, a North Dakota insurance company (the “Company”), and Cindy L. Launer, an adult individual (“Executive”).

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CROP HAIL INSURANCE FULL SERVICE AGENCY AGREEMENT by and between AMERICAN FARM BUREAU INSURANCE SERVICES, INC. and NODAK MUTUAL INSURANCE COMPANY, AMERICAN WEST INSURANCE COMPANY and BATTLE CREEK MUTUAL INSURANCE COMPANY CROP YEAR 2016
Crop Hail Insurance Full Service Agency Agreement • August 12th, 2016 • NI Holdings, Inc. • Fire, marine & casualty insurance • North Dakota

THIS CROP HAIL INSURANCE FULL SERVICE AGREEMENT (AGREEMENT) is made and entered into by and between NODAK MUTUAL INSURANCE COMPANY, AMERICAN WEST INSURANCE COMPANY, and BATTLE CREEK MUTUAL INSURANCE COMPANY, 1101 First Avenue North, Fargo, North Dakota, 58102 (collectively referred to as COMPANY) and AMERICAN FARM BUREAU INSURANCE SERVICES, INC., 1501 E. Woodfield Road, Suite 300W, Schaumburg, IL 60173-5422 (AFBIS).

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TRADEMARK LICENSE AGREEMENT
Trademark License Agreement • August 12th, 2016 • NI Holdings, Inc. • Fire, marine & casualty insurance • North Dakota

This Agreement (“Agreement”) is entered into as of this 1st day of October, 2015, (the “Effective Date”) by and between North Dakota Farm Bureau, a non-profit corporation having its principal place of business in Fargo, North Dakota (“Farm Bureau”) and Nodak Mutual Group, an insurance company having its principal place of business in Fargo, North Dakota (“Nodak Mutual”).

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AFFILIATION AGREEMENT
Affiliation Agreement • November 14th, 2016 • NI Holdings, Inc. • Fire, marine & casualty insurance

WHEREAS Battle Creek Mutual Insurance Company (“BCMI”) and Nodak Mutual Insurance Company (“NMI”) believe an affiliation between the two companies, pursuant to the terms of this Agreement, are in the best interests of the policyholders of both companies;

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SEPARATION AGREEMENT AND RELEASE
Separation Agreement • September 19th, 2024 • NI Holdings, Inc. • Fire, marine & casualty insurance • North Dakota

This Separation Agreement and Release (“Agreement”) is made by and between NI Holdings, Inc., a North Dakota corporation, Nodak Insurance Company, a North Dakota insurance company (the “Company”), and Michael J. Alexander, an individual (“Executive”) (Executive and Company are sometimes each referred to in this Agreement as a “Party” and together as the “Parties”).

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MULTIPLE PERIL CROP/LIVESTOCK INSURANCE FULL SERVICE AGENCY AGREEMENT
Full Service Agency Agreement • October 11th, 2016 • NI Holdings, Inc. • Fire, marine & casualty insurance • North Dakota

THIS AGREEMENT (hereinafter referred to as “this AGREEMENT”) is made and entered into by and between NODAK MUTUAL INSURANCE COMPANY, AMERICAN WEST INSURANCE COMPANY, and BATTLE CREEK MUTUAL INSURANCE COMPANY, 1101 First Avenue North, Fargo, ND 58102 (COMPANY), and AMERICAN FARM BUREAU INSURANCE SERVICES, INC., 1501 E. Woodfield Road, Suite 300W, Schaumburg, Illinois 60173-5422 (hereinafter referred to as “AFBIS”).

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NI HOLDINGS, INC. Time Based Restricted Stock Unit Agreement for Executives
Restricted Stock Unit Agreement • May 5th, 2021 • NI Holdings, Inc. • Fire, marine & casualty insurance • North Dakota

THIS RESTRICTED STOCK UNIT AGREEMENT (this “Agreement”) governs the Stock Unit Award granted by NI HOLDINGS, INC., a North Dakota corporation (the “Company”) to the above named individual (the “Participant”), in accordance with and subject to the provisions of the Company’s 2020 Stock and Incentive Plan (the “Plan”). A copy of the Plan has been made available to the Participant. Unless the context indicates otherwise, capitalized terms that are not defined in this Agreement shall have the meaning set forth in the Plan.

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