Unassociated Document


     

     

    
      THIS AMENDMENT AGREEMENT is
made as of the 1st Day of July, 2008 and is
supplemental to the Employment Agreement made as of 9th Day
of April, 2008, made by and among Flagstone Reassurance Suisse SA (the
“Company”) and Patrick Boisvert (the “Employee”) (the “Original
Agreement”).

       

      
        WHEREBY
IT IS AGREED as follows:

      

      
        
        

      

       

      
        	
                1)

              	
                Definitions and
      Interpretation

              


      

       

      “Effective Date”, means 1st July,
2008.

       

      Any term
not defined in this Amendment Agreement shall have the meaning as set out in the
Original Agreement.

       

      
        	
                2)

              	
                Amendment

              


      

       

      With
effect from the Effective Date, the amendments are as follows:

       

      Section 5
of the Original Agreement shall be deleted and replaced with the following new
Section 5.

      


      
        
          	
                  3.

                	
                  Term
      and starting date

                	
                  This
      Employment Agreement is concluded for an indefinite duration. The Employee
      shall start working on Start Date. The employment shall be subject at all
      times to the grant and maintenance of any required Swiss Work
      Permit.

                   

                  This
      Employment Agreement may be terminated by either party upon three months’
      notice, effective as of the end of the
month.

                


        

      

      


      Section
14 of the Original Agreement shall be deleted and replaced with the following
new Section 14.

      


      
        
          	
                  14.

                	
                  Accident

                	
                  The
      Employee is insured for occupational as well as non-occupational accidents
      according to the mandatory Swiss accident insurance (LAA).

                   

                  The
      continuation of salary payment in case of accident is
      determined by Art 324a and 324b of the Swiss Code of Obligations. In no
      case shall the Employee be entitled to receive salary after the end of
      this Employment Agreement.

                


        

      

      


      


      


      
        	
                3)

              	
                Whole
      Agreement

              


      

       

      
        
          
            	
                    i)

                  	
                    Except
      as specifically amended hereby, the Original Agreement shall continue in
      full force and effect in accordance with the provisions hereof on the date
      hereof and nothing herein contained shall be construed as waiver or
      modification of existing rights under the Original Agreement, except as
      such rights are expressly modified hereby.

                     

                  
	
                    ii)

                  	
                    This
      Amendment Agreement constitutes an entire agreement and understanding of
      the parties with respect to the subject matter hereof. The Amendment
      Agreement shall be governed by and construed in accordance with the laws
      of Switzerland.

                  


          

        

      

      


       

      IN WITNESS WHEREOF the parties
hereto have set their hands the date first above written.

       

      


      
        
          
            
              
                
                  
                    
                      
                        
                          	
                                  Flagstone
      Réassurance Suisse SA

                                	 	 
      	 
	 	 	 	 
	
                                  Guy
      Swayne

                                  CEO

                                	 	
                                  
                                    Patrick
      Boisvert