ADDENDUM EIGHT
to
MANAGEMENT AGREEMENT NO. 1
between
USBENEFITS INSURANCE SERVICES, INC.
and
THE CONTINENTAL INSURANCE COMPANY, (one of the CNA Insurance Companies)
Management Agreement No. 1 is hereby amended as set forth below, effective
as of March 30, 1996.
Paragraph 6.2 of Section 6 - MANAGEMENT OF CLAIMS AND LOSSES is amended to
read in its entirety as follows:
Claim payments shall be made on the Company's checks issued by the
Underwriting Manager in the Company's name which checks shall be drawn on the
Company's accounts. Scheduled employees of the Underwriting Manager covered by
the fidelity bond required by Section 11.4 hereof are authorized to issue claims
checks up to $100,000, as provided in the Claims Guidelines.
IN WITNESS WHEREOF, the parties hereto by their respective duly authorized
officers have caused this Addendum Eight to be executed in duplicate this 24th
day of April, 1997.
The Continental Insurance Company USBenefits Insurance Services, Inc.
By: /s/ XXXX X. XXXXXXXX By: /s/ XXXXX X. XXXXXX
--------------------------- ----------------------------------
Xxxxx X. Xxxxxx, President and
Chief Operating Officer
Witnessed: Witnessed:
/s/ XXXX XXXXXXX /s/ X. XXXXXX
------------------------- --------------------------------------
ADDENDUM NINE
to
MANAGEMENT AGREEMENT NO. 1
between
USBENEFITS INSURANCE SERVICES, INC.
and
THE CONTINENTAL INSURANCE COMPANY,
(one of the CNA Insurance Companies)
Management Agreement No. 1 is hereby amended as set forth below, effective
as of April 18, 1997.
Paragraph 6.2 of Section 6 - MANAGEMENT OF CLAIMS AND LOSSES is amended to
read in its entirety as follows:
Claim payments shall be made on the Company's checks issued by the
Underwriting Manager in the Company's name which checks shall be drawn on the
Company's accounts. Scheduled employees of the Underwriting Manager covered by
the fidelity bond required by Section 11.4 hereof are authorized to issue claims
checks up to $250,000, as provided in the Claims Guidelines.
IN WITNESS WHEREOF, the parties hereto by their respective duly authorized
officers have caused this Addendum Nine to be executed in duplicate this 24th
day of April, 1997.
The Continental Insurance Company USBenefits Insurance Services, Inc.
By: /s/ Xxxx X. Xxxxxxxx By: /s/ Xxxxx X. Xxxxxx
----------------------------- ----------------------------------
Xxxx X. Xxxxxxxx Xxxxx X. Xxxxxx, President and
Chief Operating Officer
Witnessed: Witnessed:
/s/ Xxxxx X. Xxxxxxxxx /s/ Xxxxxxx X. Xxxxxx
--------------------------------- --------------------------------------
