EXHIBIT 2
XXXXX X. XXXXX
C/O CHASE ENTERPRISES, ONE COMMERCIAL PLAZA
XXXXXXXX, XX 00000
January 14, 1998
Insurance Holdings Limited Partnership
C/O Chase Enterprises
Xxx Xxxxxxxxxx Xxxxx
Xxxxxxxx, XX 00000
Re: LOAN OF COMMON STOCK OF ACCEL INTERNATIONAL CORPORATION
This letter will set forth a modification to an Agreement entered into between
Xxxxx X. Xxxxx (the "Lender") and Insurance Holdings Limited Partnership (the
"Borrower") regarding shares of stock of ACCEL International Corporation (the
"Company") dated December 15, 1995 and amended July 31, 1997 ("the Agreement").
The purpose of this modification is to decrease the number of shares from
670,000 to 335,000. To this end, effective January 14, 1998 paragraph 1 of the
Agreement is amended to read as follows:
1. Xxxxxx xxxxxx confirms that it has loaned to Borrower 335,000 shares of
the common stock, no par value of the Company ("Borrowed Securities").
Please confirm that the foregoing sets forth our understanding regarding the
modification of the Agreement for the Borrowed Securities by signature below.
Very truly yours,
/s/ Xxxxx X. Xxxxx
Xxxxx X. Xxxxx
THE FOREGOING IS XXXXXX
CONFIRMED AND AGREED TO:
Insurance Holdings Limited Partnership
By: Chase Insurance Corporation
Its: General Partner
/S/ XXXXXX X. XXXXX
By: Xxxxxx X. Xxxxx
Its: Executive Vice President
