LIBERTE INVESTORS INC
EX-10.1
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.1</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ADVISORY
SERVICES AGREEMENT</font></u></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">THIS
ADVISORY SERVICES AGREEMENT</font></b><font size="2" style="font-size:10.0pt;"> (this &#147;<u>Agreement</u>&#148;) is entered into as of
April&nbsp;30, 2004, by and between Edwards Capital, LLC, an Illinois limited
liability company (&#147;<u>Advisor</u>&#148;), and First Acceptance Corporation (f/k/a
Libert&#233; Investors Inc.), a Delaware corporation (the &#147;<u>Company</u>&#148;).&#160; The Company and Advisor are sometimes
collectively referred to herein as the &#147;<u>Parties</u>&#148; and individually as a &#147;<u>Party</u>.&#148;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WHEREAS</font></b><font size="2" style="font-size:10.0pt;">, Donald J. Edwards, the sole and
managing member of Advisor (&#147;<u>Edwards</u>&#148;), has been an employee, officer,
director and stockholder of the Company and, as such, possesses special
knowledge, abilities and experience regarding the business of the Company;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WHEREAS</font></b><font size="2" style="font-size:10.0pt;">, the Company, USAH Merger Sub, Inc., a
Delaware corporation and direct wholly-owned subsidiary of the Company (&#147;<u>Merger
Sub</u>&#148;), USAuto Holdings, Inc., a Delaware corporation (&#147;<u>USAuto</u>&#148;), and
the stockholders of USAuto are parties to the Agreement and Plan of Merger,
dated as of December&nbsp;15, 2003 (the &#147;<u>Merger Agreement</u>&#148;), pursuant to
which USAuto will merge with and into Merger Sub upon the terms and subject to
the conditions set forth therein (the &#147;<u>Merger</u>&#148;);</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WHEREAS</font></b><font size="2" style="font-size:10.0pt;">, upon the Merger becoming effective,
Edwards&#146; employment as an employee and officer of the Company will terminate;
and</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WHEREAS</font></b><font size="2" style="font-size:10.0pt;">, upon the Merger becoming effective, the
Company desires to obtain the services of Advisor to provide the financial
advisory services described herein as an independent contractor for the
Company, and Advisor desires to provide such services to the Company upon the
terms and conditions set forth in this Agreement.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">NOW,
THEREFORE</font></b><font size="2" style="font-size:10.0pt;">, in
consideration of the mutual covenants and agreements set forth herein, the
Parties agree as follows:</font></p>

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<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Financial Advisory Services</font></u><font size="2" style="font-size:10.0pt;">.&#160;
The Company hereby engages Advisor as an independent contractor to
render the Advisory Services (as defined below) to the Company as hereinafter
provided, and Advisor hereby accepts such engagement, for a period commencing
on the Closing Date (as defined in the Merger Agreement) and, unless otherwise
earlier terminated in accordance with the provisions hereof, terminating on the
fourth anniversary of the Closing Date, unless extended by the mutual written
consent of Advisor and the Company (the &#147;<u>Advisory Period</u>&#148;).&#160; During the Advisory Period, Advisor shall
render such reasonable financial advisory services (the &#147;<u>Advisory Services</u>&#148;)
to the Company in connection with financings, mergers and acquisitions and
related matters involving the Company as the Company&#146;s Chairman or Chief
Executive Officer from time to time reasonably requests; provided that, the
total number of hours that Advisor will be required to spend providing the
Advisory Services to the Company shall not exceed 100 hours in any twelve-month
period occurring during the Advisory Period.&#160;
Unless otherwise consented to by the Company, substantially all of the
financial advisory services to be rendered hereunder shall be rendered by
Edwards.</font></h1>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


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<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Compensation for Advisory Services</font></u><font size="2" style="font-size:10.0pt;">.</font></h1>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">In consideration of the Advisory Services
to be provided by Advisor as contemplated herein, during the Advisory Period,
the Company shall pay to Advisor an advisory fee of $250,000 per annum (the &#147;<u>Advisory
Fee</u>&#148;).&#160; The Advisory Fee shall be
payable in advance in equal quarterly installments beginning on April&nbsp;1,
2004 and then on each July&nbsp;1, October&nbsp;1, January&nbsp;1 and
April&nbsp;1 thereafter during the term of this Agreement; provided that, the
pro rata portion of the Advisory Fee owed to Advisor for the period beginning
on the Closing Date and ending on March&nbsp;31, 2004 shall be payable in
advance on the Closing Date; provided, further, that any quarterly installment
paid or payable hereunder shall be pro rated in the event this Agreement is
terminated prior to the expiration of the four (4)-year Advisory Period
contemplated hereby.&#160; In the event that
the Advisory Period is terminated prior to the expiration of the four (4)-year
Advisory Period during a calendar quarter for which a quarterly installment of
the Advisory Fees has been paid to Advisor, Advisor shall refund a pro rata
portion of such quarterly payment based on the number of days remaining in such
quarter following the effective date of the termination of the Advisory
Services.</font></h2>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company shall reimburse Advisor for
all reasonable expenses incurred by Advisor or any of its employees, officers,
managers or members (including Edwards) in the course of performing services
under this Agreement, subject to the Company&#146;s normal requirements with respect
to reporting and documentation of such expenses.</font></h2>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">No Agency Created</font></u><font size="2" style="font-size:10.0pt;">.&#160;
Advisor is providing services solely as a consultant and not as an
employee of the Company.&#160; Advisor shall
be responsible for the payment of all income, social security and other
self-employment taxes relating to its services and the services of its
employees pursuant to this Agreement.&#160;
Nothing contained in this Agreement shall be construed to constitute
Advisor, its agents or employees, as the agent, employee or the legal
representative of the Company for any purpose.&#160;
Nothing contained in this Agreement shall be construed to authorize
Advisor to, nor shall Advisor without other valid authorization from the
Company, hold itself as having, any right or authority to assume or create an
obligation or responsibility, express or implied, on behalf of or in the name
of the Company, or bind the Company in any manner.</font></h1>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Representation and Warranty.</font></u></h1>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Advisor represents and warrants to the
Company that (i) Advisor is duly organized, validly existing and in good standing
under the laws of the State of Delaware, (ii) the execution, delivery and
performance of this Agreement have been duly authorized by all necessary
company action on the part of Advisor, (iii) upon the execution and delivery of
this Agreement by the parties hereto, this Agreement will constitute the legal,
valid and binding obligations of Advisor, enforceable in accordance with its
terms, and (iv) the execution and delivery by Advisor of this Agreement and its
performance of its obligations hereunder will not violate, contravene or
conflict with any employment agreement, consulting agreement, confidentiality
agreement, non-competition agreement or other agreement or contract to which it
is a party or by which it may be bound.</font></h2>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>


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<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>

<h2 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company represents and warrants to
Advisor that (i) the execution, delivery and performance of this Agreement have
been duly authorized by all necessary company action on the part of the
Company, and (ii) upon the execution and delivery of this Agreement by the
parties hereto, this Agreement will constitute the legal, valid and binding
obligations of the Company, enforceable in accordance with its terms.</font></h2>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Confidential Information</font></u><font size="2" style="font-size:10.0pt;">.&#160;
Advisor acknowledges that the information, observations and data
(including trade secrets) obtained by it while performing the Advisory Services
hereunder concerning the business or affairs of the Company and/or its
subsidiaries (&#147;<u>Confidential Information</u>&#148;) are the property of the
Company and its subsidiaries.&#160;
Therefore, Advisor agrees that it shall not disclose to any person,
other than in the course of the performance of the Advisory Services, or use
for its own purposes, any Confidential Information, unless and to the extent
that (i) the Confidential Information becomes generally known to and available
for use by the public other than as a result of Advisor&#146;s acts or omissions or
(ii) such disclosure or use is authorized by the Company&#146;s Board of Directors.&#160; Advisor shall deliver to the Company at the
termination of the Advisory Period, or at any other time the Company may
request, all memoranda, notes, plans, records, reports, computer tapes,
printouts and software and other documents and data (and copies thereof)
embodying or relating to the Confidential Information, Work Product (as defined
below) or the business of the Company or any of its subsidiaries which Advisor
may then possess or have under its control.</font></h1>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Inventions, Patents and Other
Intellectual Property</font></u><font size="2" style="font-size:10.0pt;">.&#160; Advisor acknowledges that all
discoveries, concepts, ideas, inventions, innovations, improvements,
developments, methods, designs, analyses, drawings, reports, patent
applications, copyrightable work and mask work (whether or not including any
Confidential Information) and all registrations or applications related
thereto, and all other proprietary information and all similar or related
information (whether or not patentable) which relate to the Company&#146;s or any of
its subsidiaries&#146; actual or anticipated business, research and development or
existing or future products or services and which are conceived, developed or
made by Advisor (whether alone or jointly with others) while performing the
Advisory Services (&#147;<u>Work Product</u>&#148;), belong to the Company or such
subsidiary.&#160; Advisor shall promptly
disclose such Work Product to the Board of Directors of the Company and, at the
Company&#146;s expense, perform all actions reasonably requested by the Company&#146;s
Board of Directors (whether during or after the Advisory Period) to establish
and confirm such ownership (including, without limitation, assignments,
consents, powers of attorney and other instruments).</font></h1>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Liability</font></u><font size="2" style="font-size:10.0pt;">.&#160; Neither
Advisor nor any of its employees, officers, managers, members, affiliates,
agents or representatives (including Edwards) shall be liable to the Company or
its subsidiaries or affiliates for any loss, liability, damage or expense
arising out of or in connection with the performance of services contemplated
by this Agreement, unless such loss, liability, damage or expense shall be
proven to result directly from the gross negligence or intentional wrongdoing
of Advisor or any of its employees, officers, managers, members, affiliates,
agents or representatives (including Edwards).</font></h1>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Indemnification</font></u><font size="2" style="font-size:10.0pt;">.&#160;
The Company agrees to indemnify and hold harmless Advisor and its
employees, officers, managers, members, affiliates, agents and representatives</font></h1>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

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<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(including Edwards)
against and from any and all loss, liability, suits, claims, costs, damages and
expenses (including attorneys&#146; fees) arising from or related to the performance
of services hereunder, except as a result of Advisor&#146;s gross negligence or
intentional wrongdoing or the gross negligence or intentional wrongdoing of any
of its employees, officers, managers, members, affiliates, agents and
representatives (including Edwards).</font></h1>

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<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Tax Returns</font></u><font size="2" style="font-size:10.0pt;">.&#160;
The Company and Advisor shall file all tax returns and reports required
to be filed by them on the basis that Advisor is an independent contractor,
rather than an employee, as defined in Treasury Regulation &#167;31.3121(d)-1(c)(2).</font></h1>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Successors and Assigns</font></u><font size="2" style="font-size:10.0pt;">.&#160;
This Agreement shall be binding upon and inure to the benefit of the
Company and its affiliates, successors and assigns and shall be binding upon
and inure to the benefit of Advisor and its legal representatives and assigns;
provided that in no event shall Advisor&#146;s obligations to perform future
services for the Company be delegated or transferred by Advisor, nor shall
Advisor assign this Agreement without the prior written consent of the Company.</font></h1>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Modification or Waiver</font></u><font size="2" style="font-size:10.0pt;">.&#160;
No amendment, modification or waiver of this Agreement shall be binding
or effective for any purpose unless it is made in a writing signed by the Party
against whom enforcement of such amendment, modification or waiver is
sought.&#160; No course of dealing between
the Parties to this Agreement shall be deemed to affect or to modify, amend or
discharge any provision or term of this Agreement.&#160; No delay on the part of the Company or Advisor in the exercise of
any of their respective rights or remedies shall operate as a waiver thereof,
and no single or partial exercise by the Company or Advisor of any such right
or remedy shall preclude other or further exercises thereof.&#160; A waiver of right or remedy on any one
occasion shall not be construed as a bar to or waiver of any such right or
remedy on any other occasion.</font></h1>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Termination</font></u><font size="2" style="font-size:10.0pt;">.</font></h1>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">This Agreement may be terminated by the
Company (i) if Advisor (including, but not limited to, Edwards) (A) without
reasonable cause, refuses to attend to the performance of the Advisory
Services, (B) is unable properly to perform the Advisory Services through
illness or any other cause for a period or periods exceeding three months in any
calendar year or for any period of three consecutive calendar months, or (C) do
any act or fail to do any act which results in an indictment for or conviction
of a felony or similarly serious offense; or (ii) upon the written agreement of
Advisor.</font></h2>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">This Agreement may be terminated by
Advisor (i) upon the written agreement of the Company; or (ii) if the Company
is in material breach of its obligations hereunder.</font></h2>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Governing Law</font></u><font size="2" style="font-size:10.0pt;">.&#160; All issues and questions concerning the
construction, validity, enforcement and interpretation of this Agreement shall
be governed by, and construed in accordance with, the laws of the State of
Illinois, without giving effect to any choice of law or</font></h1>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>


<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

<font size="2" face="Times New Roman" style="font-size:10.0pt;">
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<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>

<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">conflict
of law rules or provisions (whether of the State of Illinois or any other
jurisdiction) that would cause the application of the laws of any jurisdiction
other than the State of Illinois.</font></h1>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Severability</font></u><font size="2" style="font-size:10.0pt;">.&#160;
Whenever possible each provision and term of this Agreement shall be
interpreted in such manner as to be effective and valid under applicable law,
but if any provision or term of this Agreement shall be held to be prohibited
by or invalid under such applicable law, then such provision or term shall be
ineffective only to the extent of such prohibition or invalidity, without
invalidating or affecting in any manner whatsoever the remainder of such
provision or term or the remaining provisions or terms of this Agreement.</font></h1>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">No Strict Construction</font></u><font size="2" style="font-size:10.0pt;">.&#160;
The language used in this Agreement shall be deemed to be the language
chosen by the Parties hereto to express their mutual intent, and no rule of
strict construction shall be applied against any Party.</font></h1>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Notice</font></u><font size="2" style="font-size:10.0pt;">.&#160; All notices
and other communications hereunder shall be in writing and shall be deemed duly
given (a) on the date of delivery if delivered personally, or upon confirmation
of receipt if delivered by telecopy or facsimile (but only if a copy of such
telecopy or facsimile is delivered to the recipient by a recognized next-day
courier service), (b) on the first business day following the date of dispatch
if delivered by a recognized next-day courier service or (c) on the fifth
business day following the date of mailing if delivered by registered or
certified mail, return receipt requested, postage prepaid.&#160; All notices hereunder shall be delivered as
set forth below, or pursuant to such other instructions as have been previously
designated in writing to the party sending such notice by the party to receive
such notice:</font></h1>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="85%" style="border-collapse:collapse;margin-left:.8in;width:85.0%;">
 <tr>
  <td width="100%" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company</font></u>:</p>
  </td>
 </tr>
 <tr>
  <td width="100%" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="100%" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">First Acceptance Corporation<br>
  3813 Green Hills Village Drive<br>
  Nashville, Tennessee 37215 Fax:<br>
  (615) 844-2898<br>
  Attention:&#160; Stephen J. Harrison</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="100%" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Advisor</font></u>:</p>
  </td>
 </tr>
 <tr>
  <td width="100%" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="100%" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Edwards Capital, LLC<br>
  676 North Michigan Avenue,<br>
  Suite 3300<br>
  Chicago, Illinois 60611<br>
  Fax: (312) 327-4525</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Captions</font></u><font size="2" style="font-size:10.0pt;">.&#160; The captions
used in this Agreement are for convenience of reference only and do not
constitute a part of this Agreement and shall not be deemed to limit,
characterize or in any way affect any provision of this Agreement, and all
provisions of this Agreement shall be enforced and construed as if no caption
had been used in this Agreement.</font></h1>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>


<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

<font size="2" face="Times New Roman" style="font-size:10.0pt;">
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</font>

<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>

<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Counterparts</font></u><font size="2" style="font-size:10.0pt;">.&#160;
This Agreement may be executed in counterparts, any one of which need
not contain the signatures of more than one Party, but all such counterparts
taken together shall constitute one and the same instrument.</font></h1>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Tax Disclosures</font></u><font size="2" style="font-size:10.0pt;">.&#160;
Notwithstanding anything herein to the contrary, the Company and Advisor
and each other party to the transaction contemplated hereby (and each affiliate
and person acting on behalf of any such party) agree that each party (and each
employee, representative and other agent of such party) may disclose to any and
all persons, without limitation of any kind, the tax treatment and tax
structure of the transaction and all materials of any kind (including opinions
or other tax analyses) that are provided to such party or such person relating
to such tax treatment and tax structure, except to the extent necessary to
comply with any applicable federal or state securities laws.&#160; </font><font size="2" style="font-size:10.0pt;">This authorization is not
intended to permit disclosure of any other information, including (without
limitation) (i)&nbsp;any portion of any materials to the extent not related to
the tax treatment or tax structure of the transaction, (ii)&nbsp;the identities
of participants or potential participants in the transaction, (iii)&nbsp;the
existence or status of any negotiations, (iv)&nbsp;any pricing or financial
information (except to the extent such pricing or financial information is
related to the tax treatment or tax structure of the transaction) or
(v)&nbsp;any other term or detail not relevant to the tax treatment or the tax
structure of the transaction.</font></h1>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;*</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>


<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

<font size="2" face="Times New Roman" style="font-size:10.0pt;">
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IN WITNESS
WHEREOF, the undersigned have executed this Advisory Services Agreement as of
the date first above written.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.22%;">
  <p align="left" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="34%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:34.78%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">FIRST ACCEPTANCE CORPORATION</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.22%;">
  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.32%;">
  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="29%" valign="top" style="padding:0in 0in 0in 0in;width:29.46%;">
  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.22%;">
  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.32%;">
  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="29%" valign="top" style="padding:0in 0in 0in 0in;width:29.46%;">
  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.22%;">
  <p align="left" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="34%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in 0in 0in 0in;width:34.78%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Ellen V. Billings</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.22%;">
  <p align="left" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="5%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:5.32%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="29%" valign="top" style="border:none;border-top:solid windowtext .5pt;padding:0in 0in 0in 0in;width:29.46%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ellen V. Billings</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.22%;">
  <p align="left" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.32%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Its:</font></p>
  </td>
  <td width="29%" valign="top" style="padding:0in 0in 0in 0in;width:29.46%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice President and Controller,<br>
  Secretary and Treasurer</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.22%;">
  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.32%;">
  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="29%" valign="top" style="padding:0in 0in 0in 0in;width:29.46%;">
  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.22%;">
  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.32%;">
  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
  </td>
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  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
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  <p align="left" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
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  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EDWARDS CAPITAL, LLC</font></b></p>
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  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
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  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
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  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
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  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
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  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
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  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
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  <p align="left" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
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  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Donald J. Edwards</font></p>
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  <p align="left" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
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  <td width="5%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:5.32%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
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  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Donald J. Edwards</font></p>
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  <p align="left" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:left;text-indent:0in;">&nbsp;</p>
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  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.32%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Its:</font></p>
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  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Managing Member</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7</font></p>


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