Fee Agreement Between Accom, Inc., American Bankers Insurance Group, Inc., and Eugene Matalene for Waiver Services

Summary

Accom, Inc. agrees to pay Eugene Matalene, an outside director, a fee of $52,500 (1.5% of the principal amount of certain Notes) for assisting in obtaining a waiver from American Bankers Insurance Group, Inc. (ABIG). ABIG acknowledges and consents to Matalene's representation of Accom, Inc. and his receipt of the fee. The agreement is effective as of January 29, 2001, and is confirmed by the signatures of all parties.

EX-10.17 8 0008.txt LETTER FROM JUNAID SHEIKH EXHIBIT 10.17 ACCOM, INC. 1490 O'Brien Drive Menlo Park, CA 94025 January 29, 2001 American Bankers Insurance Group, Inc. Mr. Eugene Matalene c/o Reboul, MacMurray, Hewitt, Maynard & Kristol Attn: Isabel Barzun 45 Rockefeller Plaza New York, NY 10111 Dear Sirs: Reference is made to that certain Third Amendment Agreement and Waiver dated as of January 29, 2001, between American Bankers Insurance Group, Inc. ("ABIG") and Accom, Inc. (the "Company"), attached herewith (the "Waiver"). The Company has asked Mr. Matalene, one of its outside directors, to assist it in obtaining the Waiver and agrees, by its signature below, to pay Eugene Matalene a fee of 1.5% of the principal amount of the Notes (as defined in the Waiver), i.e. $52,500, for his services. ABIG acknowledges and agrees to Eugene Matalene representing the Company in this capacity and acknowledges that Eugene Matalene will receive the aforesaid fee. Please indicate your understanding of, and agreement with, the provisions of this letter by signing and returning to us the enclosed copy of this letter. Sincerely, ACCOM, INC. /s/ JUNAID SHEIKH ------------------------- Junaid Sheikh Chairman & CEO AGREED AND ACCEPTED As of the 29th day of January, 2001 American Bankers Insurance Group, Inc. By: /s/ LEN GARCIA ---------------- Len Garcia /s/ EUGENE MATALENE ---------------------- Eugene Matalene, in his individual capacity