EXHIBIT 10 (B)
ADDENDUM NO. 2
to the
RETROCESSION CONTRACT
Effective: June 1, 1998
issued to
DORINCO REINSURANCE COMPANY
Midland, Michigan
by
AMERICAN HALLMARK INSURANCE COMPANY OF TEXAS
Dallas, Texas
IT IS HEREBY AGREED, effective October 1, 1999, that paragraph A. 1. of
ARTICLE IV shall be deleted and the following substituted therefor:
"A. 1. The Retrocedant shall furnish the Retrocessionaire an account
within 45 days following the end of each month. The Retrocedant shall
include in this report for informational purposes, the amount of ceded
unearned premium and outstanding loss reserves. The Retrocessionaire's
proportion (i.e., the percent stipulated in ARTICLE I) of the
Retrocedant's reinsurance premiums under the Underlying Agreement,
less the provisional ceding commission allowed thereunder and less loss
and loss adjustment expenses paid on losses ascribed to the
Underwriting Year, shall be paid by the debtor party to the creditor
within 75 days following the end of each month."
The provisions of this Contract shall remain otherwise unchanged.
IN WITNESS WHEREOF, the parties hereto have caused this Addendum to be
executed by their duly authorized representatives at:
Midland, Michigan, this _______________ day of_______________________, 20__.
___________________________________________________
DORINCO REINSURANCE COMPANY
Dallas, Texas, this __________________ day of _______________________, 20__.
___________________________________________________
AMERICAN HALLMARK INSURANCE COMPANY OF TEXAS
