EXHIBIT 10.22
AMENDMENT TO
EXECUTIVE EMPLOYMENT AGREEMENT
WHEREAS, Xxxxxx X. Xxxx ("Executive") is party to an executive employment
agreement (the "Agreement") with Penn Independent Corporation (the "Company"),
made as of October 18, 2004; and
WHEREAS, the Company and Executive desire that certain changes be made to
the Agreement so as to clarify the intent of Executive and the Company with
respect to the identity of the parties to the Agreement.
NOW THEREFORE, the Agreement shall be revised as follows, effective as of
October 18, 2004:
1. The first sentence of Section 1 of the Agreement shall be revised in
its entirety to read as follows:
"The word "Company" as used in this Agreement shall refer to and include
Penn Independent Corporation and its "Subsidiaries," as such term is
defined in the Stock Purchase Agreement dated as of October 14, 2004, by
and among UNGL, United National Insurance Company, the Company, certain
shareholders of the Company, and Xxxxx Xxxxxxxx."
2. In all other respects the Agreement shall remain the same.
IN WITNESS WHEREOF, the parties have caused this Amendment to be executed
on this 24th day of January, 2005.
EXECUTIVE PENN INDEPENDENT CORPORATION.
/s/ Xxxxxx X. Xxxx By: /s/ Xxxxx Xxxxxxxx
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Xxxxxx X. Xxxx Name: Xxxxx Xxxxxxxx, Chairman