0001047469-03-032227 Sample Contracts

3,850,000 Shares The Navigators Group, Inc. Common Stock FORM OF UNDERWRITING AGREEMENT
Underwriting Agreement • October 1st, 2003 • Navigators Group Inc • Fire, marine & casualty insurance • New York
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INDEMNITY AGREEMENT
Indemnity Agreement • October 1st, 2003 • Navigators Group Inc • Fire, marine & casualty insurance • New York

This INDEMNITY AGREEMENT (the "Agreement") is entered into effective as of this day of , 2003 by The Navigators Group, Inc. (the "Company") and each of the selling stockholders listed on Exhibit A hereto (the "Selling Stockholders").

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