AMENDED AND RESTATED EMPLOYMENT AGREEMENT
THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “ Agreement ”), effective as of
February 8, 2008, to be effective as of January 1, 2008, is by and between First Acceptance Corporation, a
Delaware corporation (the “ Company ”), and Keith Bornemann (“ Executive ”).
In consideration of the continued employment of Executive by the Company, the grant to Executive by the
Company on the date hereof of an equity award, and the mutual covenants contained herein and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and
Executive, intending to be legally bound, hereby agree as follows:
1. Employment . The Company agrees to employ Executive, and Executive accepts such employment, upon
the terms and conditions set forth in this Agreement, for the period beginning as of the date hereof and ending
upon his separation pursuant to Section 4 hereof (the “ Employment Period ”).
2. Position and Duties .
(a) During the Employment Period, Executive shall serve as Corporate Controller of the Company and shall
have the normal duties, responsibilities, functions and authority of such position.
(b) During the Employment Period, Executive shall report to the Chief Financial Officer of the Company and
shall devote his best efforts and his full business time and attention (except for time devoted to charitable and
non-profit activities and service as a director on the board(s) of directors of companies (whether public or
private) other than the Company, in each case, in a manner that does not interfere with the performance of his
duties to the Company, vacation periods in accordance with the terms set forth herein, and periods of illness) to
the business and affairs of the Company. Executive shall perform his duties, responsibilities and functions to the
Company hereunder to the best of his abilities in a diligent, trustworthy and businesslike manner.