EX-10.1





Exhibit 10.1



	 	 	 	 	 
	

	 	Mary O’Neill
	 	Citigroup
	 

	 	Vice President
	 	1 North Wall Quay
	 

	 	Trade Business Management
	 	Dublin 1,
Ireland






Aspen Insurance Limited (“Aspen”)

Maxwell Roberts Building

1 Church Street

Hamilton

HM 11

Bermuda




Attention: Bryan Astwood




Date: 28 October 2008




Dear Sir,



Committed Letter of Credit Facility Letter dated 11 October 2006, as amended, varied, supplemented,
novated or assigned as the case may be.


With reference to the above Facility Letter, and with effect upon Aspen’s counter-signature of a
copy of this letter, the following amendments shall be made:-



	 	1.	 	The paragraph headed “Amount” shall be deleted in its entirety and replaced by the
following:-
	 
	 	 	 	“The Facility shall be in a maximum aggregate amount of US$450,000,000 (“the Facility
Limit”)”.
	 
	 	2.	 	The paragraph headed “Fees” shall be deleted in its entirety and replaced by the
following:-
	 
	 	 	 	“The Company shall pay to the Bank in arrears on each Quarter Day a letter of credit fee in
an amount equal to






	 	(a)	 	0.2% (on an annualised basis) in respect of the amount of credit drawn, where
such amount is secured by Type 1 Financial Assets (as defined in the Schedule 1 of
the Pledge Agreement); and/or
	 
	 	(b)	 	0.25% (on an annualised basis) in respect of the amount of credit drawn,
where such amount is secured by Type 2 Financial Assets (as defined in Schedule 1 of
the Pledge Agreement).






	 	 	 	and each within the Facility Limit and the terms of Schedule 1 of the Pledge Agreement.
	 
	 	 	 	The Company shall pay to the Bank in arrears on each Quarter Day a commitment fee in an
amount equal to (a) 0.1% (on an annualised basis) of the principal amount of undrawn credit
on that Quarter Day.”




Save as expressly provided in this letter, the provisions of the Facility Letter shall remain in
full force and effect.




Citibank Europe plc




Directors: Shirish Apte (U.K.) Aidan M Brady, Sanjeeb Chaudhuri (U.K.), Maurice F Doyle, Mark Fitzgerald, James Foster (U.K.), Brian Hayes,
Peter Maskrey (U.K.), Frank McCabe, Naveed Sultan (U.K.), Francesco Vanni d’Archirafi (Italy), Tony Woods.




Registered in Ireland: Registration Number 132781. Registered Office: 1 North Wall Quay, Dublin 1.

Ultimately owned by Citigroup Inc., New York, U.S.A.

Citibank Europe plc is regulated by the Financial Regulator




 









 







Please countersign and return the enclosed copy of this letter, which may be in any number of
counterparts (including facsimile counterparts).




	 	 	 	 	 
	Yours faithfully

 	 	 
	/s/ Mary O'Neill
 	 	 
	For Citibank Europe Plc 	 	 


We hereby confirm our agreement to the above.






	 	 	 	 	 	 
	Dated: October 29, 2008
	 	Dated: October 29,
2008 
	
Signed:	 	
Signed:
	
/s/ Bryan Astwood
 	 	
/s/ David Skinner
	for and on behalf of 	 	for and on behalf of 
	ASPEN INSURANCE LIMITED 	 	ASPEN INSURANCE LIMITED 
	 



Citibank Europe plc




Directors: Shirish Apte (U.K.) Aidan M Brady, Sanjeeb Chaudhuri (U.K.), Maurice F Doyle, Mark Fitzgerald, James Foster (U.K.), Brian Hayes,
Peter Maskrey (U.K.), Frank McCabe, Naveed Sultan (U.K.), Francesco Vanni d’Archirafi (Italy), Tony Woods.




Registered in Ireland: Registration Number 132781. Registered Office: 1 North Wall Quay, Dublin 1.

Ultimately owned by Citigroup Inc., New York, U.S.A.

Citibank Europe plc is regulated by the Financial Regulator