FEDERAL INCOME TAX ALLOCATION AGREEMENT
▇▇▇▇▇ FINANCIAL & SUBSIDIARIES
Effective January 1, l997, the Federal Income Tax filing is to be consolidated
with the following entities:
▇▇▇▇▇ FINANCIAL
PAN AMERICAN UNDERWRITERS, INC.
PAY AMERICAN UNDERWRITERS INSURANCE AGENTS & BROKERS, INC.
▇▇▇▇▇ TRADING COMPANY INSURANCE AGENTS & BROKERS, INC.
AGRI-COMP INSURANCE AGENCY, INC.
PAN PACIFIC BENEFIT ADMINISTRATORS, INC.
▇▇▇▇▇ INSURANCE COMPANY
▇▇▇▇▇ ASSURANCE COMPANY
▇▇▇▇▇ MEXICO, S.A. de C.V.
In consideration of filing a consolidated Federal Income Tax return it is
agreed as follows:
The allocation of the consolidated Federal Income Tax provisions/credits
for ▇▇▇▇▇ Insurance Company and ▇▇▇▇▇ Assurance Company are to be based upon
their separate Federal Income Tax return calculations. The other entities are to
share the remaining Federal Income Tax provisions/credits upon their
proportionate share of taxable income/loss or any other reasonable allocation
method approved by the Audit Committee.
All inter-company balances are to be settled within sixty (60) days
following the filing of the consolidated Federal Income Tax return or receipt of
any applicable share of Income Tax recovery, whichever is later.
Dated: 4/10/97
▇▇▇▇▇ FINANCIAL ▇▇▇▇▇ TRADING COMPANY INSURANCE
AGENTS & BROKERS, INC.
/s/ [ILLEGIBLE] /s/ [ILLEGIBLE]
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President/CEO President/CEO
PAN AMERICAN UNDERWRITERS, INC. AGRI-COMP INSURANCE AGENCY, INC.
/s/ [ILLEGIBLE] /s/ [ILLEGIBLE]
----------------------- ----------------------------
President/CEO President/CEO
PAN AMERICAN UNDERWRITERS INSURANCE PAN PACIFIC BENEFIT ADMINISTRATORS INC.
AGENTS & BROKERS, INC.
/s/ [ILLEGIBLE] /s/ [ILLEGIBLE]
----------------------- ----------------------------
President/CEO President/CEO
1
▇▇▇▇▇ INSURANCE COMPANY ▇▇▇▇▇ MEXICO, S.A. DE C.V.
/s/ [ILLEGIBLE] /s/ [ILLEGIBLE]
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President/CEO President/CEO
▇▇▇▇▇ ASSURANCE COMPANY
/s/ [ILLEGIBLE]
-----------------------
President/CEO
2