Amendment to Credit Agreement

EX-10.4 5 k96941exv10w4.txt AMENDMENT TO CREDIT AGREEMENT Exhibit 10.4 AMENDMENT TO CREDIT AGREEMENT This Amendment to Credit Agreement ("Amendment") dated this 20th day of May, 2005, between MEADOWBROOK INSURANCE GROUP, INC., (the "Company"), and STANDARD FEDERAL BANK NATIONAL ASSOCIATION, (as "Lender"). RECITALS A. The Company and the Lender entered into a certain credit agreement dated as of November 12, 2004 ("Credit Agreement") pursuant to which the Lender made a Revolving Credit facility in the amount of $25,000,000 available to the Company on terms and conditions set forth therein. B. The parties desire to amend the Credit Agreement to change Section 11.14.4 as provided herein. AGREEMENT NOW, THEREFORE, in consideration of the mutual covenants and conditions contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. AMENDMENT OF CREDIT AGREEMENT. Section 11.14.4 of the Credit Agreement is amended to change "Quarterly" to "Annually at December 31". 2. CONTINUED EFFECTIVE CREDIT AGREEMENT. Except as specifically modified or amended by this Amendment, the Credit Agreement shall remain in full force and effect in accordance with its terms. IN WITNESS WHEREOF, the parties have executed this Amendment to Credit Agreement as of the date first above written. Signatures on following pages MEADOWBROOK INSURANCE GROUP, INC. By /s/ Robert S. Cubbin -------------------- Robert S. Cubbin Its President and CEO -------------------- STANDARD FEDERAL BANK NATIONAL ASSOCIATION By /s/ Dennis J. Harder -------------------- Dennis J. Harder Its Senior Vice President --------------------- Signature page to Amendment to Credit Agreement