Termination Endorsement to Excess of Loss Reinsurance Agreement between Western Surety Companies and Continental Casualty Company

Summary

This document is a termination endorsement to a reinsurance agreement between Western Surety Company, Surety Bonding Company of America, Universal Surety of America (collectively, the Company), and Continental Casualty Company (the Reinsurer). Effective January 1, 2004, the agreement is cancelled, and the Reinsurer is no longer liable for any losses discovered after that date. All other terms of the original agreement remain unchanged. The endorsement is executed by authorized representatives of all parties involved.

EX-10.12 4 c83733exv10w12.txt TERMINATION ENDORSEMENT TERMINATION ENDORSEMENT (hereinafter referred to as the "Endorsement") to the SURETY $3,000,000 EXCESS OF $12,000,000 EXCESS OF LOSS REINSURANCE AGREEMENT (hereinafter referred to as the "Agreement") between WESTERN SURETY COMPANY SURETY BONDING COMPANY OF AMERICA UNIVERSAL SURETY OF AMERICA (hereafter collectively referred to as the "Company") and CONTINENTAL CASUALTY COMPANY (hereafter referred to as the "Reinsurer") It is understood and agreed by and between the Company and the Reinsurer that effective 12:00:01a.m., Standard Time, January 1, 2004, the Agreement is cancelled in accordance with the provisions of Article II - TERM and the Reinsurer shall have no liability for any loss discovered subsequent to 12:00:01a.m., Standard Time, January 1, 2004. Standard Time as used in this Endorsement shall mean the location of the original insured. All other terms and conditions of the Agreement remain unchanged. IN WITNESS WHEREOF the parties acknowledge that no intermediary is involved in or brought about this transaction, and the parties hereto, by their authorized representatives, have executed this Endorsement: on this day of 2004 WESTERN SURETY COMPANY By: ------------------------------------------ Name: ---------------------------------------- Title: --------------------------------------- Page 1 of 2 and on this day of 2004 UNIVERSAL SURETY OF AMERICA By: ------------------------------------------ Name: ---------------------------------------- Title: --------------------------------------- and on this day of 2004 SURETY BONDING COMPANY OF AMERICA By: ------------------------------------------ Name: ---------------------------------------- Title: --------------------------------------- and on this day of 2004 CONTINENTAL CASUALTY COMPANY By: ------------------------------------------ Name: ---------------------------------------- Title: --------------------------------------- Page 2 of 2