EXHIBIT 4(B) STOCK OPTION AGREEMENT This STOCK OPTION AGREEMENT (this "Agreement") is made and entered into as of July 31, 1996, by and between MERIDIAN INSURANCE GROUP, INC., an Indiana corporation (the "Company"), and SPENCER A. BROUGHTON...Stock Option Agreement • July 31st, 1997 • Meridian Insurance Group Inc • Fire, marine & casualty insurance • Indiana
