Hallmark Financial Services, Inc.

Mark E. Schwarz was elected Executive Chairman of the Company in August, 2006. He served as Chief Executive Officer of the Company from January, 2003 until August, 2006, and as President from November, 2003 through March, 2006. Since 1993, Mr. Schwarz has served, directly or indirectly through entities he controls, as the sole general partner of Newcastle Partners, L.P., a private investment firm. Since 2000, he has also served as the President and sole Managing Member of Newcastle Capital Group, L.L.C., the general partner of Newcastle Capital Management, L.P., a private investment management firm. From 1995 until 1999, Mr. Schwarz was also a Vice President of Sandera Capital Management, L.L.C. and, from 1993 until 1996, was a securities analyst and portfolio manager for SCM Advisors, L.L.C., both of which were private investment management firms associated with the Lamar Hunt family. Mr. Schwarz presently serves as Chairman of the boards of directors of Pizza Inn, Inc., an operator and franchisor of pizza restaurants; Bell Industries, Inc., a company primarily engaged in providing computer systems integration services; and New Century Equity Holdings Corp., a company in transition that is currently seeking potential merger and acquisition candidates. Mr. Schwarz is also a director of Nashua Corporation, a manufacturer of specialty papers, labels and printing supplies; and SL Industries, Inc., a developer of power systems used in a variety of aerospace, computer, datacom, industrial, medical, telecom, transportation and utility equipment applications.

Mark J. Morrison

Mark J. Morrison was named President of the Company in April, 2006 and became Chief Executive Officer in August, 2006. He joined the Company in March, 2004, as Executive Vice President and Chief Financial Officer and was appointed to the additional position of Chief Operating Officer in April, 2005. Mr. Morrison has been employed in the property and casualty insurance industry since 1993. Prior to joining the Company, he had since 2001 served as President of Associates Insurance Group, a subsidiary of St. Paul Travelers. From 1996 through 2000, he served as Senior Vice President and Chief Financial Officer of Associates Insurance Group, the insurance division of Associates First Capital Corporation. From 1995 to 1996, Mr. Morrison served as Controller of American Eagle Insurance Group, and from 1993 to 1995 was Director of Corporate Accounting for Republic Insurance Group. From 1991 to 1993, he served as Director of Strategic Planning and Analysis at Anthem, Inc. Mr. Morrison began his career as a public accountant with Ernst & Young, LLP from 1982 to 1991, where he completed his tenure as a Senior Manager.

Jeffrey R. Passmore

Jeffrey R. Passmore has served as Senior Vice President and Chief Accounting Officer of the Company since June, 2003, and previously served as Vice President of Business Development for the Company. Prior to joining the Company in November, 2002, Mr. Passmore had since 2000 served as Vice President and Controller of Benfield Blanch, Inc. and its predecessor E.W. Blanch Holdings, Inc., a reinsurance intermediary. From 1998 to 1999, he served E.W. Blanch Holdings, Inc. as Assistant Vice President of Financial Reporting. From 1994 to 1998, he was a senior financial analyst with TIG Holdings, Inc., a property and casualty insurance holding company. Mr. Passmore began his career as an accountant for Gulf Insurance Group from 1990 to 1993. Mr. Passmore is a certified public accountant licensed in Texas.

Robert B. Wilson

Robert B. Wilson was named President of American Hallmark Insurance Services, Inc., a functional segment of the Company handling standard lines commercial insurance, in January 2011. Prior to this role, Mr. Wilson served as the Executive Vice President of Insurance Operations (2008 to 2010) and Senior Vice President and Director of Marketing (2007 to 2008). Before joining the Company, Mr. Wilson was employed by Wm. Rigg Co., an independent insurance agency based in Fort Worth, Texas where he was Senior Vice President and Producer (2004 to 2007) and Vice President of Operations (2001 to 2004). Mr. Wilson began his insurance career in 1994 at the Millers American Group, a Property & Casualty insurance carrier based in Fort Worth, Texas. He was Vice President/Reinsurance Manager & Special Projects (1999 to 2001) and Assistant Vice President/Reinsurance Manager (1997 to 1999). Mr. Wilson has a Masters from Vanderbilt University and BA in Business Administration from Baylor University.

Kevin T. Kasitz

Kevin T. Kasitz was named an Executive Vice President of the Company effective April, 2006 and became Chief Operating Officer in December, 2006. He has served as the President of American Hallmark Insurance Services, a functional segment of the Company handling standard lines commercial insurance, since April, 2003. Prior to joining the Company, Mr. Kasitz had since 1991 been employed by Benfield Blanch Inc., a reinsurance intermediary, where he served as a Senior Vice President in the Program Services division (2000 to 2003) and Alternative Distribution division (1999 to 2000), a Vice President in the Alternative Distribution division (1994 to 1999) and a Manager in the Wholesale Insurance Services division (1991 to 1994). From 1989 to 1991, he was a personal lines underwriter for Continental Insurance Company and from 1986 to 1989 was an internal auditor for National County Mutual Insurance Company, a regional non-standard automobile insurer.

Donald E. Meyer

Donald E. Meyer was named President of TGA Insurance Managers, a functional segment of the Company handling primarily excess and surplus lines commercial insurance, after the acquisition of the subsidiaries comprising this operating unit in January, 2006. Mr. Meyer has served as the Vice President of the primary subsidiary within the TGA Operating Unit, Texas General Agency, Inc., since 1981. He has since 1986 also served as the President of Gulf States Insurance Company, which was also acquired by the Company in January, 2006. Mr. Meyer served on the board of directors of the Texas Surplus Lines Association, an industry trade group, from 2002 through 2004. He had previously served on the board of directors of this organization from 1991 through 1996 and served as its President during 1995 and 1996. In 1999, Mr. Meyer was appointed by the Texas Insurance Commissioner to serve a three year term on the board of directors of the Surplus Lines Stamping Office of Texas, a surplus lines self-regulatory organization, where he served as chairman in 2001.

Christopher C. Jones

Christopher C. Jones was named President of the Aerospace Operating Unit, a functional segment of the Company handling general aviation property/casualty insurance, after the retirement of Curtis R. Donnell in December 2008. Mr. Jones has served as Chief Operating Officer of the primary subsidiary within the Aerospace Operating Unit, Aerospace Insurance Managers, Inc., since February, 2006. Since joining Aerospace Insurance Managers, Inc. in 1999 until 2006, Mr. Jones served as Executive Vice President of Underwriting. From 1993 to 1999, Mr. Jones served as a regional underwriter for American Eagle Group and was ultimately promoted to Vice President responsible for large account and program development. From 1989 to 1993, he was an independent retail producer of aviation insurance. From 1983 to 1989, he served Aviation Office of America, Inc. (“AOA”) as Vice President and Regional Manager. From 1982 – 1983, he served AOA as assistant branch manager. From 1978 to 1982, Mr. Jones served CTH Aviation Underwriters in various positions as claims adjuster trainee to underwriter to Vice President and Regional Manager responsible for underwriting multiple lines of aviation insurance as well as managing various regional territories. Mr. Jones has been an active pilot since 1974 and holds a Commercial pilot certificate with airplane, single engine and multi-engine land and instrument-airplane ratings.

James A. Damonte

James A. Damonte was named President of the Heath XS Operating Unit, a functional segment of the Company handling excess and umbrella casualty insurance in March 2010. Mr. Damonte has served as Executive Vice President of the primary subsidiary within the Heath XS Operating Unit, Heath XS LLC., since August, 2008 after the acquisition of the subsidiaries comprising the operating unit. Since joining Heath XS in 2004, Mr. Damonte initially served as Vice President of underwriting and from 2006 to 2008 later served as Executive Vice President of Jeffrey L. Heath, Inc. in charge of insurance operations. From 2003 to 2004, Mr. Damonte was an independent insurance producer for A and H Insurance, Inc. focusing on construction related risks. Mr. Damonte started his insurance career as a facultative underwriter for General Reinsurance Corporation from 1999 to 2003, and was ultimately promoted to Assistant Secretary responsible for a portion of the Western United States handling both individual risk and program reinsurance. Mr. Damonte graduated from the University of Nevada with both a BS in Business Administration and Managerial Science.