Exhibit 11
SECOND AMENDMENT TO
AMENDED AND RESTATED ALLIED GROUP
INTERCOMPANY OPERATING AGREEMENT
THIS AMENDMENT is made this 16th day of May, 1994, by and between ALLIED
Mutual Insurance Company ("Mutual"), ALLIED Group, Inc. ("AGI"), and ALLIED Life
Financial Corporation ("ALFC").
WHEREAS, Mutual, AGI, and ALFC and their respective subsidiaries entered
into the Amended and Restated ALLIED Group Intercompany Operating Agreement on
August 25, 1993, as amended as of November 1, 1993 (the "Agreement"); and
WHEREAS, on May 16, 1994, the Executive Committee of the Board of Directors
for each of Mutual, AGI, and ALFC approved the amendment to the Agreement
regarding the fees for employee leasing and other services;
NOW, THEREFORE, in consideration of the foregoing, and of the mutual
covenants set forth below and other valuable consideration, the receipt of
which is hereby acknowledged, the parties agree as follows:
1. Section 2.1 (e), second sentence, subsection (i) is hereby amended by
replacing "5.07%" with "3.5%".
2. Section 2.1(e), second sentence, subsection (iv) is hereby amended by
replacing "4.62%" with "3.5%".
3. All other terms and conditions remain in full force and effect.
IN WITNESS WHEREOF, the parties have caused this Amendment to be executed
as of the day and year above first written.
ALLIED Mutual Insurance Company
By: /s/ Xxxxxxx X. Xxxxxxxx
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Xxxxxxx X. Xxxxxxxx, President
By: /s/ Xxxxxx X. Xxxxxx
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Xxxxxx X. Xxxxxx, Secretary
ALLIED Group, Inc.
By: /s/ Xxxx X. Xxxxx
---------------------------------
Xxxx X. Xxxxx, Chairman of the
Board and President
By: /s/ Xxxxxx X. Xxxxxx
---------------------------------
Xxxxxx X. Xxxxxx, Secretary
ALLIED Life Financial Corporation
By: /s/ Xxxxxx X. Xxxxx
---------------------------------
Xxxxxx X. Xxxxx, President
By: /s/ Xxxxxx X. Xxxxxx
---------------------------------
Xxxxxx X. Xxxxxx, Secretary
