Consulting Agreement between Atlantic American Corporation and Samuel E. Hudgins
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Consulting Agreements
Summary
Atlantic American Corporation has an informal consulting arrangement with Samuel E. Hudgins, a company director. Mr. Hudgins provides financial and other consulting services as directed by the Chairman or CEO. Either party can end the arrangement with prior notice. Compensation is paid per day, based on the type of work performed. In 2002, Mr. Hudgins received $135,500 for his services.
EX-10.23 5 g81143exv10w23.txt EX-10.23 SUMMARY TERMS OF CONSULTING ARRANGEMENT EXHIBIT 10.23 Summary Terms of Consulting Arrangement Atlantic American Corporation (the "Company") has entered into an informal consulting arrangement with Samuel E. Hudgins, one of the Company's directors, pursuant to which Mr. Hudgins provides various financial and other consulting services to the Company as determined and directed at the discretion of the Chairman and/or the Chief Executive Officer of the Company. The arrangement may be discontinued by either party with prior notice. Mr. Hudgins is compensated on a per diem basis at a rate determined based on the nature of the engagement. Pursuant to the agreement, Mr. Hudgins received $135,500 during 2002 for such services.
