Table of Contents
Exhibit
10.2

3rd August
2006

Stuart
Sinclair
[Address]

Dear
Stuart,

Further to recent discussions I am pleased to
offer you the position of President and Chief Operating Officer. This
letter and the attached agreements are by necessity formal in nature,
but I would like to start by saying on behalf of Aspen, that we are
very much looking forward to you joining the Company and believe that
you can make a significant difference to the further development of the
Company.

I enclose the Service Agreement and if you would
like to accept this offer of employment please sign both copies of the
agreement and return one to me at this office.

As you are
aware from our discussions, the Compensation Committee have approved a
number of specific matters which fall outside of the Service Agreement
but relate to your employment. They are as
follows:

			
		a) 	You will be are invited
to participate in the 2006 Long Term Incentive Plan. You have been
granted 100,000 shares under the plan, consisting of 1042 performance
shares and 98,958 options. They will be granted at the price of the day
that you sign the service agreement. The Performance Shares agreement
and the Options agreement are
enclosed.


			
		b) 	In addition you will be
granted 43,200 options, subject to the performance conditions of the
2006 Long Term Incentive Plan.


			
		c) 	You
will receive a payment of £31,428 ($55,000) to buy out the
option value from GE. This will be paid with your first monthly salary
payment.


			
		d) 	You have been granted
$550,000 Restricted Stock Units which seek to compensate you for the
loss of your Restricted Stock Units at GE. The Restricted Stock Units
agreement is attached.


			
		e) 	You will
receive a guaranteed bonus of £210,000, payable in the
March  2007 payroll subject to you being an employee at that time
and subject to your start date with the Company occurring by the end of
September  2006.


			
		f) 	You will be
eligible to receive a payment of £30,000 towards relocation
costs to the UK. This will be subject to tax, and will be paid with
your first monthly salary payment. If you were to give notice of
resignation from the company within one year of your official start
date, this £30,000 sum will be repayable in full within one
month of such termination date.


There are a number of
practical matters that need to be attended to, and these are detailed
below:

In accordance with the Asylum and Immigration Act
1996 we are required to ensure that employees have the right to work in
the UK. Therefore, to comply with this legislation, you will need to
send to me, before you commence employment, a copy of either your birth
certificate or passport and then the original document when you
commence employment with Aspen. You will also be required to complete
the pre-employment screening form and return it to our provider, Kroll.
Your employment with the Company is conditional upon the satisfactory
completion of this assessment process.

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Table of Contents
Please find enclosed a number of
forms, which should be completed and returned to the HR department,
unless otherwise stated, as soon as possible as we require these
before you commence employment. We will also require your P45,
which will be provided by your current employer when you leave their
employment.

		
	1. 	Group Pension Scheme and
Membership Application Form — Please complete the member
application form, and return to HR, together with details of your
retained benefits (if applicable), any additional voluntary
contributions you wish to make (if applicable) and a copy of your birth
certificate. If you wish to join the Life Assurance scheme only, please
complete section 2 of the member application form and return to HR, in
which case we shall still require a copy of the relevant
certificates.


		
	2. 	From your first day
with the Company you will be covered for Death in Service Lump Sum
Benefit equivalent of up to four times your basic salary. Attached is a
Nomination Form, which we would ask you to complete, sign and return
for HR to hold on your
file.


		
	3. 	Pre-employment screening form
— return to Kroll by fax on
[                    ] for the attention of
[                    ].


		
	4. 	Employee
Details Form — please complete and return to HR for Payroll
records.


		
	5. 	Details of the Norwich
Union Healthcare scheme — please complete relevant section at
the bottom of the form and return to
me.


		
	6. 	Please sign the attached Consent
to Use of Data Form. If you have any questions regarding this document
please contact me.


		
	7. 	Codes of Practice
Form — please read the enclosed, signing the Codes of Practice
form to confirm you have read an understood the
same.


		
	8. 	Sports Club Membership
— information for you.


		
	9. 	Season
Ticket Loan — information for
you.


		
	10. 	BUPA Dental Scheme Memo
— please contact HR if you wish to
join.


		
	11. 	Please provide a copy of your
degree certificate.


Should you have any questions about
any of the above, please do not hesitate to contact Chris Woodman on
[                    ].

May I conclude
by saying we are looking forward to you joining the
Company,

Yours sincerely,

Chris
O’Kane
Chief Executive
Officer

Encl.

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