No. 3154-0016-E002
ENDORSEMENT
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Attached to and forming part of PROPERTY AND CASUALTY EXCESS OF LOSS REINSURANCE
AGREEMENT NO. 3154-0016 between PENN-AMERICA INSURANCE COMPANY, PENN-STAR
INSURANCE COMPANY, both of Hatboro, Pennsylvania, (hereinafter referred to as
the "Company"), and AMERICAN RE-INSURANCE COMPANY, a Delaware Corporation with
administrative offices in Princeton, New Jersey (hereinafter referred to as the
"Reinsurer")
It is understood and agreed that effective 12:01 a.m., Eastern Standard Time,
January 1, 2004, this Agreement is canceled in accordance with the provisions of
ARTICLE XVI, COMMENCEMENT AND TERMINATION. The Reinsurer shall not be bound on
any risk on or after the aforementioned date. All risks bound under the terms of
this Agreement which are in effect as of said date shall remain in force until
cancellation or natural expiration thereof.
It is further understood and agreed that notwithstanding the cancellation of
this Agreement, the provisions of this Agreement shall continue to apply to all
unfinished business hereunder until all obligations and liabilities incurred by
each party thereunder prior to said date shall be fully performed and
discharged.
IN WITNESS WHEREOF the parties hereto have caused this Endorsement to be
executed in duplicate in Hatboro, Pennsylvania, this 28th day of June, 2004;
ACCEPTED:
PENN-AMERICA INSURANCE COMPANY
PENN-STAR INSURANCE COMPANY
/s/ Xxxxxx X. Xxxxxx
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and in Princeton, New Jersey, this 21 day of June 2004.
AMERICAN RE-INSURANCE COMPANY
/s/
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Vice President
DATED: June 15, 2004
