Exhibit 10(c)
ADDENDUM NO. 7
POOLING REINSURANCE AGREEMENT
Between
EMPIRE MUTUAL INSURANCE COMPANY
And
ALLCITY INSURANCE COMPANY
EXECUTED MAY 1, 1986
It is mutually agreed, effective 12:01 a.m. December 21, 1985, that the pooling
arrangement between Empire Mutual Insurance Company (hereinafter "Empire") and
Allcity Insurance Company (hereinafter "Allcity"), shall continue in accordance
with Addendum No. 4 which became effective as 12:01 A.M. January 1, 1976, except
as hereinafter provided:
As of December 21, 1985 and subsequent, all expenses relating to the
demutualization of Empire required to be paid pursuant to Conversion Resolution
(Section 7307 of Article 73 of the New York Insurance Law) adopted at a special
meeting of the Board of Directors of Empire held on December 20, 1985, shall not
be shared in the manner of sharing expenses provided for in the said Pooling
Reinsurance Agreement. Demutualization expenses required to be paid by Empire
shall be borne solely by Empire without any portion thereof chargeable to
Allcity.
Nothing contained herein shall otherwise vary, alter, waive, or extend any other
terms or provisions of the Pooling Reinsurance Agreement, except as stated
above.
Executed at New York, New York
this 28th day of March 1986.
ATTEST: EMPIRE MUTUAL INSURANCE COMPANY
By /s/ Xxxx Xxxxxxx By /s/ [illegible]
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Executive Vice President
ATTEST: ALLCITY INSURANCE COMPANY
By /s/ Xxxxxxxxx Xxxxx By /s/ Xxxxxx Xxxxxx
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Vice President and Controller
