FEDERAL INCOME TAX ALLOCATION AGREEMENT
XXXXX FINANCIAL & SUBSIDIARIES
Effective January 1, l997, the Federal Income Tax filing is to be consolidated
with the following entities:
XXXXX FINANCIAL
PAN AMERICAN UNDERWRITERS, INC.
PAY AMERICAN UNDERWRITERS INSURANCE AGENTS & BROKERS, INC.
XXXXX TRADING COMPANY INSURANCE AGENTS & BROKERS, INC.
AGRI-COMP INSURANCE AGENCY, INC.
PAN PACIFIC BENEFIT ADMINISTRATORS, INC.
XXXXX INSURANCE COMPANY
XXXXX ASSURANCE COMPANY
XXXXX MEXICO, S.A. de C.V.
In consideration of filing a consolidated Federal Income Tax return it is
agreed as follows:
The allocation of the consolidated Federal Income Tax provisions/credits
for XXXXX Insurance Company and XXXXX Assurance Company are to be based upon
their separate Federal Income Tax return calculations. The other entities are to
share the remaining Federal Income Tax provisions/credits upon their
proportionate share of taxable income/loss or any other reasonable allocation
method approved by the Audit Committee.
All inter-company balances are to be settled within sixty (60) days
following the filing of the consolidated Federal Income Tax return or receipt of
any applicable share of Income Tax recovery, whichever is later.
Dated: 4/10/97
XXXXX FINANCIAL XXXXX TRADING COMPANY INSURANCE
AGENTS & BROKERS, INC.
/s/ [ILLEGIBLE] /s/ [ILLEGIBLE]
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President/CEO President/CEO
PAN AMERICAN UNDERWRITERS, INC. AGRI-COMP INSURANCE AGENCY, INC.
/s/ [ILLEGIBLE] /s/ [ILLEGIBLE]
----------------------- ----------------------------
President/CEO President/CEO
PAN AMERICAN UNDERWRITERS INSURANCE PAN PACIFIC BENEFIT ADMINISTRATORS INC.
AGENTS & BROKERS, INC.
/s/ [ILLEGIBLE] /s/ [ILLEGIBLE]
----------------------- ----------------------------
President/CEO President/CEO
1
XXXXX INSURANCE COMPANY XXXXX MEXICO, S.A. DE C.V.
/s/ [ILLEGIBLE] /s/ [ILLEGIBLE]
----------------------- ----------------------------
President/CEO President/CEO
XXXXX ASSURANCE COMPANY
/s/ [ILLEGIBLE]
-----------------------
President/CEO
2
