AMENDMENT NUMBER TWO TO EMPLOYMENT AGREEMENT
This Amendment Number Two to Employment Agreement (this "amendment") is made and entered into as of the
2nd day of January, 2000, by and between IGF Holdings, Inc., an Indiana corporation, and Thomas F. Gowdy
with respect to that certain Employment Agreement executed April 9, 1996 and April 15, 1996 and that certain
Amendment thereto dated August 1, 1997 and that certain Assignment and Assumption by and between IGF
Insurance Company, an Indiana corporation, and IGF Holdings, Inc. dated August 1, 1997 (collectively, the
WHEREAS, the parties desire to amend the Agreement as set forth herein.
NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto agree as follows:
1. Section 2.1 is hereby deleted in its entirety and there is inserted in lieu thereof the following:
"2.1 Salary. During the term of this agreement, the Company shall pay Executive a salary at the minimum annual
rate of One Hundred Sixty-Five Thousand Dollars ($165,000). This salary shall be payable in twenty-six (26)
equal installment. Company may increase this annual rate at its discretion but no reduction of Executive's then
current rate of pay shall be made without his prior written consent."
2. Section 2.6 (b) is hereby amended as follows: The words "Seven Hundred Fifty Dollars ($750)" are hereby
deleted and there is inserted in lieu thereof, "One Thousand Dollars ($1,000)".
3. The first sentence of Section 1.1 is hereby amended as follows:
The words "effective as of February 1, 1996 and continuing for a period of thirty-six (36) months through
January 31, 1999" are
hereby deleted and there is inserted in lieu thereof, "effective
as of January 1, 2000 and continuing for a period of thirty-six
(36) months through December 31, 2002".
4. There is hereby added to the end of the last sentence of Section
1.1 the f