Summary of Consulting Agreement between James River Group, Inc. and Richard W. Wright
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Summary
James River Group, Inc. entered into an oral consulting agreement with Richard W. Wright, its Chairman, in January 2003. Under this agreement, Mr. Wright receives an annual fee of $60,000. Either party can end the agreement with 90 days written notice, and it will automatically end before the completion of a specified offering. After the offering, a new consulting agreement will be made with Mr. Wright, under which he will be paid $40,000 for his services.
EX-10.12 31 file028.htm SUMMARY OF CONSULTING AGREEMENT
SUMMARY OF CONSULTING AGREEMENT In January 2003, James River Group, Inc. entered into an oral consulting agreement (the "Agreement") with Richard W. Wright, the Chairman of the board of directors. Pursuant to the Agreement, Mr. Wright currently receives a fee of $60,000 per year. The Agreement may be terminated by either party with 90 days written notice, and will terminate immediately prior to completion of this offering. Upon completion of the offering, we will enter into a new consulting agreement with Mr. Wright, pursuant to which he will receive a fee of $40,000 for his consulting services.
