Letter Agreement Confirming Continuation of Executive Employment Terms for Jon S. Saltzman with United America Indemnity, Ltd.

Contract Categories: Human Resources › Employment Agreements
Summary

This letter agreement confirms that Jon S. Saltzman will become President of United America Indemnity, Ltd. upon the closing of a transaction. It also states that the terms of his existing executive employment agreement with Penn-America Group, Inc. will continue in effect. The agreement is acknowledged by both parties and requires Jon S. Saltzman to sign and return the letter to confirm his acceptance.

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EX-10.18 5 w06706exv10w18.txt LETTER AGREEMENT EXHIBIT 10.18 January 20, 2005 Jon S. Saltzman 435 Dreshertown Road Ft. Washington, PA 19034 Dear Jon: This is to confirm that upon the Closing you will assume the position of President of United America Indemnity, Ltd., and the terms of the executive employment agreement between you and Penn-America Group, Inc, dated as of October 14, 2004 (the "Agreement") shall continue. Please acknowledge these plans by signing and returning this letter to me. Capitalized terms used herein shall have the meanings set forth in the Agreement. Sincerely, /s/ David Bradley - ----------------------------------- David Bradley CEO, United America Indemnity, Ltd. ACCEPTED AND AGREED: /s/ Jon S. Saltzman - ----------------------------------- Jon S. Saltzman