Common Contracts
2 similar Executive Employment Agreement contracts by United America Indemnity, LTD
EXHIBIT 10.17 October 14, 2004 Jon S. Saltzman 420 S. York Road Hatboro, PA 19040 Dear Jon: Reference is made to Executive Employment Agreement dated as of October 14, 2004 (the "Agreement") between you, Penn-America Group, Inc., its insurance...Executive Employment Agreement • March 16th, 2005 • United America Indemnity, LTD • Fire, marine & casualty insurance • York
If the Company terminates Executive's employment on or before the first anniversary date of the Closing, and if it shall be determined that as a result of such termination that any amount or benefit paid or distributed to the Executive pursuant to the Agreement, taken together with any amounts or benefits otherwise paid or distributed to the Executive in connection with the merger contemplated by the Agreement and Plan of Merger ("Merger Agreement"), dated as of the date hereof, by and among United National Group, Ltd., Cheltenham Acquisition Corp., U.N. Holdings II, Inc. (collectively, "UNGL") and the Company (collectively, the "Covered Payments"), would be an "excess parachute payment" as defined in Section 280G of the Internal Revenue Code of 1986, as amended (the "Code") and would thereby subject the Executive to the tax (the "Excise Tax") imposed under Section 4999 of the Code (or any similar tax that may hereafter be imposed), then the Company will reimburse the Executive in an a
EXHIBIT 10.20 October 14, 2004 Joseph F. Morris 420 S. York Road Hatboro, PA 19040 Dear Joe: Reference is made to Executive Employment Agreement dated as of October 14, 2004 (the "Agreement") between you and Penn-America Group, Inc. and its insurance...Executive Employment Agreement • March 16th, 2005 • United America Indemnity, LTD • Fire, marine & casualty insurance • York
If the Company terminates Executive's employment on or before the first anniversary date of the Closing, and if it shall be determined that as a result of such termination that any amount or benefit paid or distributed to the Executive pursuant to the Agreement, taken together with any amounts or benefits otherwise paid or distributed to the Executive in connection with the merger contemplated by the Agreement and Plan of Merger ("Merger Agreement"), dated as of the date hereof, by and among United National Group, Ltd., Cheltenham Acquisition Corp., U.N. Holdings II, Inc. (collectively, "UNGL") and the Company (collectively, the "Covered Payments"), would be an "excess parachute payment" as defined in Section 280G of the Internal Revenue Code of 1986, as amended (the "Code") and would thereby subject the Executive to the tax (the "Excise Tax") imposed under Section 4999 of the Code (or any similar tax that may hereafter be imposed), then the Company will reimburse the Executive in an a
