EXHIBIT 10(a)
ADDENDUM NO. 1
to the
RETROCESSION CONTRACT
Effective: June 1, 1998
issued to
DORINCO REINSURANCE COMPANY
Midland, Michigan
by
AMERICAN HALLMARK INSURANCE COMPANY OF TEXAS
Dallas, Texas
IT IS HEREBY AGREED, effective March 1, 1999, that ARTICLE XIII shall
be deleted and the following substituted therefor:
"ARTICLE XIII
INTERMEDIARY
Xxxx X. Xxxxxxx Associates, Inc. is hereby recognized as the
intermediary negotiating this Contract. All communications
(including but not limited to notices, statements, premiums,
return premiums, commissions, taxes, losses, loss adjustment
expenses, salvage and loss settlements) relating hereto shall be
transmitted to the Retrocedent and the Retrocessionaire through
Xxxx X. Xxxxxxx Associates, Inc., 0000 Xxxxxx Xxxxxx Xxxxx,
Xxxxxxxxxxx, Xxxxxxxxx 00000. Payments by the Retrocedent to Xxxx
X. Xxxxxxx Associates, Inc. shall be deemed to constitute payment
to the Retrocessionaire. Payments by the Retrocessionaire to Xxxx
X. Xxxxxxx Associates, Inc. shall be deemed only to constitute
payment to the Retrocedent to the extent that such payments are
actually received by the Retrocedent."
The provisions of this Contract shall remain other unchanged.
IN WITNESS WHEREOF, the parties hereto have caused this Addendum to be
executed by their duly authorized representatives at:
Midland, Michigan, this ______________ day of __________________, 1999.
_______________________________________________________________________
DORINCO REINSURANCE COMPANY
Dallas, Texas, this __________________ day of __________________, 1999.
_______________________________________________________________________
AMERICAN HALLMARK INSURANCE COMPANY OF TEXAS
