Amendment No. 2 to Services Agreement between FireMark Partners, LLC and Bristol West Holdings, Inc.
This amendment, effective October 1, 2006, modifies the Services Agreement between FireMark Partners, LLC and Bristol West Holdings, Inc. Instead of paying monthly license fees totaling $900,000, Bristol West will make a single discounted payment of $818,091 to FireMark by October 6, 2006. This payment fully satisfies Bristol West's remaining license fee obligations under the agreement. Both parties have agreed to these revised terms and executed the amendment.
Exhibit 10.17
Amendment No. 2
This Amendment No. 2 to the July 24, 2002 Services Agreement (“Services Agreement”) is entered as of October 1, 2006 (the “Effective Date”) by and between FireMark Partners, LLC (“FireMark”) a Delaware limited liability company and Bristol West Holdings, Inc a Delaware corporation formerly known as BRW Acquisition, Inc. (“BRW”).
WHEREAS, BRW is required to pay monthly License Fees from and after the Effective Date totaling $900,000, subject to the terms and conditions of the Services Agreement and the Correction and Amendment of the Services Agreement dated November 8, 2005; and
WHEREAS, BRW and FireMark desire to satisfy such requirement with one single discounted payment of $818,091 on Friday October 6, 2006;
NOW THEREFORE, the Services Agreement is hereby amended as follows:
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| On or around October 6, 2006, BRW shall pay FireMark $818,091 in full satisfaction of its remaining obligation to make License payments under Section 7.3 of the Services Agreement. |
IN WITNESS WHEREOF, the parties hereto have signed this Amendment intending to be legally bound.
| BRISTOL WEST HOLDINGS, INC., |
| FIREMARK PARTNERS, LLC | ||
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| By: | /s/ Craig Eisenacher |
| By: | /s/ John McManus |
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| Name: | Craig Eisenacher |
| Name: | John McManus |
| Title: | Senior Vice President |
| Title: | Member |
| Date: | 10/4/06 |
| Date: | 10/3/06 |
