STOCK PURCHASE AGREEMENT By and Among Embarcadero Insurance Holdings, Inc. The Shareholders of Embarcadero Insurance Holdings, Inc. CRM USA Holdings Inc. - and - CRM Holdings, Ltd. Dated September 8, 2006Stock Purchase Agreement • September 11th, 2006 • CRM Holdings, Ltd. • Services-management services • New York
This Stock Purchase Agreement (this “Agreement”) is made and entered into this 8th day of September, 2006, by and among Embarcadero Insurance Holdings, Inc., a California corporation (“Embarcadero”), the shareholders of Embarcadero listed on Schedule I (individually, a “Seller,” and collectively, “Sellers”); CRM USA Holdings Inc., a Delaware corporation and a wholly-owned subsidiary of Parent (“Purchaser”); and CRM Holdings, Ltd., an exempted holding company incorporated under the laws of Bermuda (“Parent”).
