ADDENDUM #3 TO THE CAPTIVE INSURANCE COMPANY MANAGEMENT SERVICESAGREEMENT BETWEEN CEDAR MANAGEMENT LIMITED (CEDAR) USA RISK GROUP (BERMUDA),LTD. (USABDA) (and their affiliated companies) (hereafter collectively MANAGER) AND AMERINST INSURANCE COMPANY, LTD. (COMPANY) EFFECTIVE: January 1, 2012
EX-10.13 3 d286512dex1013.htm ADDENDUM TO MANAGEMENT AGREEMENT Addendum to Management Agreement
Exhibit 10.13
ADDENDUM #3 TO THE
CAPTIVE INSURANCE COMPANY MANAGEMENT SERVICES AGREEMENT
BETWEEN
CEDAR MANAGEMENT LIMITED (“CEDAR”)
USA RISK GROUP (BERMUDA), LTD. (“USABDA”)
(and their affiliated companies) (hereafter collectively “MANAGER”)
AND
AMERINST INSURANCE COMPANY, LTD. (“COMPANY”)
EFFECTIVE: January 1, 2012
Management Agreement Addendum
| 1) | It is hereby agreed that with effect from 1/1/2012 that USABDA be removed from the Management Agreement as a MANAGER and that CEDAR will be the sole MANAGER for the Company. |
IN WITNESS WHEREOF, the parties have duly executed this Addendum this 9th day of December, 2011.
| By: | /s/ THOMAS R. MCMAHON | |
| Cedar Management Limited (itself and on behalf of its affiliated companies) | ||
| By: | /s/ THOMAS R. MCMAHON | |
| USA Risk Group (Bermuda), Ltd. (itself and on behalf of its affiliated companies) | ||
| By: | /s/ STUART H. GRAYSTON | |
| AmerInst Insurance Company, Ltd. | ||
