FORM LIMITED GUARANTEEForm Limited Guarantee • December 5th, 2006 • Direct General Corp • Fire, marine & casualty insurance • Delaware
Limited Guarantee, dated as of December 4, 2006 (this “Limited Guarantee”), by [INVESTOR] (the “Guarantor”) in favor of DIRECT GENERAL CORPORATION (the “Guaranteed Party”). Reference is hereby made to the Agreement and Plan of Merger by and among ELARA HOLDINGS, INC. (“Parent”), ELARA MERGER CORPORATION (“Merger Sub”), and the Guaranteed Party, dated as of December 5, 2006 (as the same may be amended from time to time, the “Merger Agreement”). Capitalized terms used herein but not otherwise defined have the meanings ascribed to them in the Merger Agreement.
