TERMINATION ENDORSEMENT
to the
INTERESTS AND LIABILITIES AGREEMENT
(the "Agreement")
of
CONVERIUM REINSURANCE (NORTH AMERICA) INC.
(the "Subscribing Reinsurer")
with respect to the
PROPERTY CATASTROPHE EXCESS OF LOSS
REINSURANCE CONTRACT
(the "Contract")
issued to
PENN-AMERICA INSURANCE COMPANY
PENN-STAR INSURANCE COMPANY
PENN-PATRIOT INSURANCE COMPANY
Hatboro, Pennsylvania
and any additional company established or acquired by the Company
(the "Company")
IT IS HEREBY AGREED that this Agreement, under which the Subscribing Reinsurer
has a 21.00% share in the interests and liabilities of the "Reinsurer" on the
First. Second, and Third Property Catastrophe Excess of Loss Reinsurance Layers,
shall be terminated at 12:01 a.m., Eastern Standard Time, October 1, 2004. The
Subscribing Reinsurer shall have no liability for losses occurring at or after
that time and date.
IN WITNESS WHEREOF, the Subscribing Reinsurer by its duly authorized
representative has executed this Termination Endorsement as of the date
specified below:
Signed this ____12th_________day of ______October_________________, 2004.
PENN-AMERICA INSURANCE COMPANY
PENN-STAR INSURANCE COMPANY
PENN-PATRIOT INSURANCE COMPANY
By____________________________
Signed this ____28th_________day of ______September_______________, 2004.
CONVERIUM INSURANCE (NORTH AMERICA) INC.
By _____________________________________
Xxxxxx
