Addendum to Tax Sharing Agreement between Fairfax Inc. and Crum & Forster Holding Inc.

Contract Categories: Business Finance › Funding Agreements
Summary

Fairfax Inc. and Crum & Forster Holding Inc. have signed an addendum to their existing Tax Sharing Agreement. This addendum ensures that if Crum & Forster Holding Inc. files a consolidated tax return with its subsidiaries, Fairfax Inc. will reimburse Crum & Forster for any net operating losses used in the consolidation. The agreement is effective as of January 1, 2005, and aims to align tax planning strategies and prevent the expiration of Crum & Forster's net operating losses.

Read More Arrow
EX-10.17 2 t18371exv10w17.htm EX-10.17 exv10w17  

Exhibit 10.17
Fairfax Inc. and Crum & Forster Holding Inc.
Addendum to Tax Sharing Agreement
In order to align the Fairfax, Inc. Tax Allocation Agreement, effective January 1, 2000, (the “Tax Sharing Agreement” ), with tax planning strategy, and ensure that the net operating losses of Crum & Forster Holding Inc. (“CFHI”) are reimbursed by Fairfax, Inc. before their expiration, in the event CFHI implements the tax planning strategy in which they elect to file a consolidated tax return with their subsidiaries for financial tax accounting purposes under the Tax Sharing Agreement, Fairfax Inc. agrees to reimburse CFHI for net operating losses utilized in consolidation.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by duly authorized officers to be effective January 1, 2005.
         
 
FAIRFAX, INC
 
 		    
By:   /s/   John Cassil      
  Name:   John Cassil     
  Title:   Vice President     
 
 
Crum & Forster Holding Inc.
 
 		    
By:   /s/   Mary Jane Robertson      
  Name:   Mary Jane Robertson     
  Title:   Sr. Executive Vice President