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EXHIBIT 10.1
 
TERMINATION ADDENDUM
 
EXCESS OF LOSS RETROCESSION AGREEMENT
 
BY AND BETWEEN
 
PLATINUM UNDERWRITERS BERMUDA, LTD.
 
(RETROCEDANT)
 
and
 
PLATINUM UNDERWRITERS REINSURANCE, INC.
 
(RETROCESSIONAIRE)
 
IT IS HEREBY MUTUALLY AGREED that effective August 5, 2008, the Excess of Loss
Retrocession Agreement dated as of January 1, 2008 (the “Agreement”), by and
between Platinum Underwriters Bermuda, Ltd., a Bermuda insurance company (the
“Retrocedant”), and Platinum Underwriters Reinsurance, Inc., a Maryland
domiciled insurance company (the “Retrocessionaire”), is terminated pursuant to
this Termination Addendum ( the “Addendum”).
 
The Retrocessionaire shall return $1,875,000 in premium which amount represents
50% of all premium paid under the Agreement, as consideration for the early
termination of its exposure.
 
IN WITNESS WHEREOF, the parties have caused this Addendum to be executed in
duplicate by their respective officers duly authorized so to do, on the date set
forth below.
 
                                                Platinum Underwriters Bermuda,
Ltd.
 
                                                By: /s/ Les Waters            
                                                Name: Les Waters
                                                Title: Senior Vice President
                                                Date: September 29, 2008
 
 
                                                Platinum Underwriters
Reinsurance, Ltd.
 
                                                By: /s/ Kevin S.
Marine           
                                                Name: Kevin S. Marine
                                                Title: Chief Operating Officer
                                                Date: September 23, 2008