ADDENDUM NO. 3
TO THE
PXRE GROUP AMENDED AND RESTATED AGREEMENT
CONCERNING FILING OF CONSOLIDATED
FEDERAL INCOME TAX RETURNS
BETWEEN
PXRE CORPORATION ("PXRE")
AND
TRANSNATIONAL REINSURANCE COMPANY ("Transnational")
WHEREAS, Transnational is a wholly-owned subsidiary of PXRE
Reinsurance Company ("Reinsurance"), and Reinsurance is a wholly-owned
subsidiary of PXRE; and
WHEREAS, Transnational is, therefore, a member of the PXRE
affiliated group of corporations filing consolidated federal income tax returns
(the "PXRE Group") and has, by this Addendum No. 3 dated as of December 11, 1996
become a participant in the Amended and Restated Agreement dated as of August
23, 1993 between PXRE and Reinsurance establishing the terms pursuant to which
the PXRE Group files its consolidated federal income tax returns, and
NOW, THEREFORE, it is hereby agreed that Transnational shall be a
participant in the PXRE Group Amended and Restated Agreement Concerning Filing
of Consolidated Federal Income Tax Returns dated as of August 23, 1993 to which
this Addendum is annexed.
PXRE CORPORATION
By: /s/ Xxxxxx X. Xxxxx
--------------------------------
Name: Xxxxxx X. Xxxxx
Title: Chairman of the Board, President
and Chief Executive Officer
TRANSNATIONAL REINSURANCE COMPANY
By: /s/ Xxxxxx X. Xxxxx
--------------------------------
Name: Xxxxxx X. Xxxxx
Title: Chairman of the Board, President
and Chief Executive Officer
