Exhibit 10.5
November 30, 2004
VIA DHL EXPRESS
Mr. Roger Smith
Infinity Property & Casualty
Corporation
2204 Lakeshore Drive
Birmingham, AL 35209
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RE:
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E
XTENSION
OF S ERVICES A GREEMENT
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Dear Roger:
This letter is a formal extension of the
Services Agreement effective January 1, 2003 by and between
American Financial Group, Inc. (AFG) and Infinity Property and
Casualty Corporation (IPCC), as amended by the Letter Agreement
dated December 11, 2003 and Amendment No. 1 to Services Agreement
dated April 16, 2004 (the “Services
Agreement”).
The Services Agreement currently expires
December 31, 2005 (the “Termination Date”). There is no
provision for IPCC to request an extension, nor is there any
provision for a renewal term. However, we have had discussions
between AFG and IPCC representatives throughout 2004 relating to
the need for IPCC to have some continued servicing and use of Great
American Insurance Group paper beyond the Termination Date as they
continue to run off, convert, or otherwise transition the Reinsured
Business (as defined in the Services Agreement).
By this letter, AFG confirms the extension of
the “Basic Services” listed in the Services Agreement
through December 31, 2006. AFG and IPCC agree to add the Agency
Administration Services detailed on Exhibit A as a “Basic
Service” effective immediately. AFG and IPCC representatives
will negotiate and document the elimination of as many of these
Basic Services as possible for calendar year 2006, it being the
intent of both AFG and IPCC t
