Document:

Supplemental Pension Plan

 Exhibit 10.40 
 BECKMAN COULTER, INC. 
 SUPPLEMENTAL PENSION PLAN 
 (Amended and Restated Effective January 1, 2008) 
 Sections 415 and 401(a)(17) of
the Internal Revenue Code of 1986, as amended (the “Code”), impose certain benefit and compensation limitations under the Beckman Coulter, Inc. Pension Plan (the “Pension Plan”). These limitations may adversely affect certain key
management and highly compensated employees of Beckman Coulter, Inc. (the “Company”), and this Beckman Coulter, Inc. Supplemental Pension Plan (the “Supplemental Plan”) is intended to permit the total pension of such employees to
be determined without respect to such limitations. 
 In addition, the Tax Reform Act of 1986, as amended (“1986 TRA”), imposed new
requirements, effective January 1, 1989, which require changes to the benefit formula under the Pension Plan. In order to implement such changes, the Company has adopted Alternative II-D from Notice 88-131 issued by the Internal Revenue Service
and clarified by Notice 89-92. Alternative II-D specifies that benefit payments from the Pension Plan shall not, for certain highly compensated employees under the circumstances described in Notice 88-131, exceed the benefit accrued as of
December 31, 1988 (or, for individuals who first became highly compensated employees during 1989, the benefit accrued as of December 31, 1989). The Supplemental Plan is intended to provide retirement benefits to the highly compensated
employees whose benefits are so limited by Alternative II-D, so that the benefits under this plan, when combined with benefits under the Pension Plan, will not be less than the benefits to which such highly compensated employees would have been
entitled but for the adoption of Alternative II-D. 

 The Supplemental Plan is a non-qualified plan which is unfunded and is maintained primarily for the
purpose of providing deferred compensation for a select group of management or highly compensated employees. The Company now wishes to amend and restate the Supplemental Plan to comply with Section 409A of the Code and Treasury Regulations and
other guidance promulgated thereunder and to make certain other technical amendments to the Plan. The Company therefore adopts the following Supplemental Plan: 
 1. Administration. The Supplemental Plan will be administered by the Committee appointed under the Pension Plan (the “Committee”) in a manner consistent with the administration of the Pension Plan.
The Committee is hereby granted full discretion to interpret, construe and apply the terms of this Plan, and the Committee’s decisions in such matters will be final. 
 2. Eligibility. Eligibility under the Supplemental Plan is restricted to management or highly compensated “Beckman Employees” whose pension benefits under the Pension Plan are limited pursuant to
Sections 401(a)(17) or 415 of the Code or Alternative II-D of Notice 88-131 (each, a “Participant”). A “Beckman Employee” shall mean any person who is an “Employee” classified as a “Beckman Employee” under the
definition of “Employee” contained in the Pension Plan. “Coulter Employees,” as described in the definition of “Employee” contained in the Pension Plan, are not eligible to participate in the Supplemental Plan.

  

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 3. Benefits. The Company will supplement a Participant’s monthly pension payable under the
Pension Plan by the amount which is the difference, if any, between the Participant’s monthly pension under the Pension Plan, and the monthly pension which would have been payable under the Pension Plan if the provisions of the Pension Plan
were administered without regard to Sections 401(a)(17) and 415 of the Code. The Company will further supplement the Participant’s monthly pension payable under the Pension Plan by the amount by which the Participant’s monthly pension
benefit payable from the Pension Plan was reduced to comply with Alternative II-D of Notice 88-131. Finally, the Company will supplement the Participant’s monthly pension payable under the Pension Plan to the extent that such benefit is lower
than it otherwise would have been because of an election made by the Participant pursuant to a written bonus program or a written deferred compensation plan of the Company which has the effect of reducing the amount of the Participant’s
compensation taken into account in determining the Participant’s monthly pension payable from the Pension Plan. The supplemental benefits provided hereunder shall include such benefits as would, but for the limitations of the Code, Notice
88-131 and any other limitation described herein, be payable to the spouse or beneficiary of the Participant under the Pension Plan, according to the terms of the Pension Plan and the elections made under the Pension Plan by the Participant.

 In the case of any employee identified under Section III of Appendix IV of the Pension Plan, the supplement provided by the Company under
this Supplemental Plan shall be calculated as follows. For each such employee, the supplement that would have been provided under this Supplemental Plan if the benefit increases under Appendix IV of the Pension Plan had not been adopted shall be
calculated (such amount shall be referred to as the “Gross Supplement”). The supplement to be provided by the Company under this Supplemental Plan shall be the Gross Supplement reduced by the increase to such employee’s Pension Plan
benefit 

  

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provided under Appendix IV of the Pension Plan. The increase provided under Appendix IV of the Pension Plan shall be the increase provided after taking into
account any applicable limitation on such increase under Section 4.15 of the Pension Plan. 
 4. Payment of Benefits. This
Section 4 reflects the rules governing distributions of benefits made under the Supplemental Plan with respect to Participants who incur a Separation from Service with the Company on or after January 1, 2008. For distributions with respect
to Participants who incurred a Separation from Service (or other event triggering distributions hereunder) prior to that date, see the applicable provisions of the Supplemental Plan in effect as of the date of such Separation from Service (or other
event). Prior to January 1, 2009, certain Participants were also permitted to make distribution elections in accordance with certain transition rules set forth in Treasury Regulations and other guidance promulgated under Section 409A of
the Code. 
 (a) A Participant’s benefits under the Supplemental Plan shall be paid to the Participant in cash in a lump sum as soon as
administratively practical following the date that is six (6) months after the Participant’s Separation from Service for any reason; provided, however, that if the Participant’s aggregate benefits under the Supplemental Plan exceed
$500,000, the Participant’s benefits shall be payable in (i) a lump sum payment of $500,000 as soon as administratively practical following the date that is six (6) months after the Participant’s Separation from Service for any
reason, and (ii) a lump sum payment equal to the amount by which the Participant’s benefits exceed $500,000 as soon as administratively practical after the January 1 which follows the calendar year during which the initial $500,000
payment was made. Subject to Section 4(b), the aggregate amount of the payment or payments to be made pursuant to this Section 4(a) shall be the actuarial equivalent of the Participant’s benefits under the Supplemental Plan as
determined in accordance with Section 3. For these purposes, the term “actuarial equivalent” shall have the same meaning as specified under the Pension Plan. 
  

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 (b) With respect to any payment of benefits made pursuant to Section 4(a), the Participant shall be
entitled to receive interest on each such payment for the period commencing on the date of the Participant’s Separation from Service and ending on the date such payment is made. For these purposes, interest shall be credited based on the
interest rate used to calculate lump-sum distributions under the Pension Plan for the year in which the Participant’s Separation from Service occurs in accordance with Section 1.2(b) of the Pension Plan. 
 (c) For purposes of the Supplemental Plan, “Separation from Service” means, as to a particular Participant, a termination of services provided
by the Participant to his or her Employer (as defined below), whether voluntarily or involuntarily, as determined by the Committee in accordance with Section 409A of the Code and Treasury Regulation Section 1.409A-1(h). In determining
whether a Participant has experienced a Separation from Service, the following provisions shall apply: 
 (i) For a Participant who provides
services to an Employer as an employee, except as otherwise provided in clause (iii) below, a Separation from Service shall occur when the Participant has experienced a termination of employment with the Employer. A Participant shall be
considered to have experienced a termination of employment for this purpose when the facts and circumstances indicate that the Participant and his or her Employer reasonably anticipate that either (A) no further services will be performed by
the Participant for the Employer after the applicable date, or (B) that the level of bona fide services the Participant will 

  

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perform for the Employer after such date (whether as an employee or as an independent contractor) will permanently decrease to no more than 20% of the
average level of bona fide services performed by the Participant (whether as an employee or an independent contractor) over the immediately preceding 36-month period (or the full period of services to the Employer if the Participant has been
providing services to the Employer less than 36 months). However, if the Participant is on military leave, sick leave, or other bona fide leave of absence, the employment relationship between the Participant and the Employer shall be treated as
continuing intact, provided that the period of such leave does not exceed 6 months, or if longer, so long as the Participant retains a right to reemployment with the Employer under an applicable statute or by contract. If the period of a military
leave, sick leave, or other bona fide leave of absence exceeds 6 months and the Participant does not retain a right to reemployment under an applicable statute or by contract, the employment relationship shall be considered to be terminated for
purposes of this Plan as of the first day immediately following the end of such 6-month period. In applying the provisions of this paragraph, a leave of absence shall be considered a bona fide leave of absence only if there is a reasonable
expectation that the Participant will return to perform services for the Employer. 
 (ii) For a Participant who provides services to an
Employer as an independent contractor, except as otherwise provided in clause (iii) below, a Separation from Service shall occur upon the expiration of the contract (or in the case of more than one contract, all contracts) under which services
are performed for such Employer, provided that the expiration of such contract(s) is determined by the Committee to constitute a good-faith and complete termination of the contractual relationship between the Participant and such Employer.

  

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 (iii) For a Participant who provides services to an Employer as both an employee and an independent
contractor, a Separation from Service generally shall not occur until the Participant has ceased providing services for the Employer as both an employee and as an independent contractor, as determined in accordance with the provisions set
forth in clauses (i) and (ii) above. Similarly, if a Participant either (A) ceases providing services for an Employer as an independent contractor and begins providing services for such Employer as an employee, or (ii) ceases
providing services for an Employer as an employee and begins providing services for such Employer as an independent contractor, the Participant will not be considered to have experienced a Separation from Service until the Participant has ceased
providing services for such Employer in both capacities, as determined in accordance with clauses (i) and (ii) above. 
 Notwithstanding the foregoing provisions in this definition, if a Participant provides services for an Employer as both an employee and as a member of its board of directors, to the extent permitted by Treasury Regulation
Section 1.409A-1(h)(5), the services provided by the Participant as a director shall not be taken into account in determining whether the Participant has experienced a Separation from Service as an employee, and the services provided by such
Participant as an employee shall not be taken into account in determining whether the Participant has experienced a Separation from Service as a director, for purposes of this Plan. 
 For purposes of this definition of “Separation from Service,” the term “Employer” means the Company or subsidiary of the Company that
the Participant last performed services for or was employed by, as applicable, on the date of his or her Separation from Service, and all other entities that are required to be aggregated together and treated as the employer under Treasury
Regulation Section 1.409A-1(h)(3). 
  

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 5. Death Benefits. In the event of the death of a Participant on or after January 1, 2008 and
prior to the payment in full of the Participant’s benefits hereunder, the Participant’s unpaid benefits hereunder will be paid in a lump sum to the beneficiary or beneficiaries entitled to the Participant’s survivor and death benefits
under the Pension Plan as soon as administratively practical after the date of death; provided, however, that if payment of the Participant’s benefits hereunder commenced at any time prior to January 1, 2008, the Participant’s unpaid
benefits hereunder shall be paid to the beneficiary or beneficiaries entitled to the Participant’s survivor and death benefits under the Pension Plan in accordance with the applicable provisions of the Pension Plan. 
 6. No Assignment or Alienation of Benefits. Benefits under the Supplemental Plan may not be voluntarily or involuntarily assigned, alienated,
sold, transferred, pledged or encumbered in any manner whatsoever. 
 7. Amendment or Termination. The Organization and Compensation
Committee of the Company’s Board of Directors (the “Committee”) may amend the Supplemental Plan, provided that no amendment shall reduce the Company’s liability for any benefits accrued under the Supplemental Plan as of the date
of such action, with benefits to be determined on the basis of the Participant’s presumed Separation from Service as of the date of such amendment. The Committee or the Company’s Board of Directors may also appoint a committee of one or
more of its members who may amend the Supplemental Plan, subject to the foregoing provisos and further provided that no such amendment may (a) affect the benefits of an individual elected officer or the group of elected officers (unless the
amendment (i) is for administrative purposes only, or (ii) affects benefits of an elected officer or group of elected officers in the same manner as a broad class of participants other than elected officers), (b) result in an annual
cost greater than $250,000, 

  

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or (c) result in a material change in the benefits provided under the Supplemental Plan. The Committee may terminate and liquidate the Supplemental Plan
and distribute all benefits hereunder in accordance with the requirements of Treasury Regulation 1.409A-3(j)(4)(ix)(A), (B) or (C) promulgated under Section 409A of the Code (or any similar successor provision), which regulation
generally provides that a deferred compensation arrangement such as the Supplemental Plan may be terminated within twelve (12) months following a dissolution or change in control of the Company or may be terminated if the Company also
terminates all other similar deferred compensation arrangements and distributes all benefits under the Supplemental Plan not less than twelve (12) months and not more than twenty-four (24) months following such termination. 
 8. No Right to Continued Employment. The Supplemental Plan shall not confer upon any person any right to be continued in the employment of the
Company. 
 9. Unsecured General Creditor; Tax Withholding. All amounts payable in accordance with the Supplemental Plan shall
constitute a general unsecured obligation of the Company. The Company shall not be required to fund such benefits through a trust, insurance policy or otherwise. Notwithstanding the above, all or portion of the benefits may be paid from a grantor
trust established by the Company. The assets held by any such trust are subject to the claims of the Company’s general, unsecured creditors in the event of the Company’s insolvency. The Company shall have the right to deduct from each
payment to be made under the Supplemental Plan any required withholding taxes. 
  

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 10. Governing Law. The Supplemental Plan shall be governed by the laws of the State of California,
except to the extent such laws are preempted by federal law, in which case federal law shall govern the Supplemental Plan. 
 11.
Inability to Locate Participant. In the event that the Committee is unable to locate a Participant or beneficiary within two years following the date the Participant was to commence receiving payment of benefits under the Supplemental Plan,
the Participant’s entire benefit under the Supplemental Plan shall be forfeited. Furthermore, if any benefit payment (by check or other form of payment) to a Participant or beneficiary remains uncashed or unclaimed for two years following its
delivery to the last known address of the Participant or beneficiary, the amount of such benefit payment shall be forfeited. Any forfeited amount shall immediately become the property of the Company. If, after such forfeiture, the Participant or
beneficiary later claims such benefit, such benefit shall be reinstated without interest or earnings. The distribution of such benefits shall thereafter be made in the manner determined by the Committee. 
 12. Section 409A; Construction. To the extent that the Supplemental Plan is subject to Section 409A of the Code, the Supplemental Plan
shall be construed and interpreted to the maximum extent reasonably possible to avoid the imputation of any tax, penalty or interest pursuant to Section 409A of the Code. If any portion of a Participant’s benefits under the Supplemental
Plan is required to be included in income by the Participant prior to receipt due to a failure of the Supplemental Plan to comply with the requirements of Section 409A of the Code and related Treasury Regulations, the Committee may determine
that such Participant shall receive a distribution from the Supplemental Plan in an amount equal to the lesser of (i) the portion of his or her benefits hereunder required to be included in income as a result of the failure of the Supplemental
Plan to comply with the requirements of Section 409A of the Code and related Treasury Regulations, or (ii) the Participant’s unpaid benefits hereunder. For purposes of the Supplemental Plan, a payment shall be considered to have been
made “as soon as administratively practical after” a particular date only if it is made within ninety (90) days after that date. 
  

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 This restated Supplemental Plan is hereby adopted by Beckman Coulter, Inc. effective as of
January 1, 2008. 
  

			
	BECKMAN COULTER, INC.
		
	By:	 	 /s/ James Robert Hurley

		 	James Robert Hurley
		
	Its:	 	 Senior Vice President, Human Resources

		
	Date:	 	 February 20, 2008

  

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 FOREIGN OFFSET APPENDIX. 
 1. This Foreign Offset Appendix shall apply to the Beckman Employees having the employee numbers specified below; provided, however, that in order for
this Foreign Offset Appendix to apply to any such individual, upon the commencement of his benefits from the Pension Plan, such individual must execute and deliver (and not revoke) the agreement and release described in paragraph 3 of this Foreign
Offset Appendix. 
  

	
	 Employee Number

	640549
	873438
	640751
	622401
	636053

 Former Beckman Employees who satisfy the above requirements are referred to in this Appendix as
“Foreign Offset Participants.” 
 The purposes of this Foreign Offset Appendix are to (i) resolve any possible disputes
concerning the calculation of benefits of Foreign Offset Participants under this Plan and the Pension Plan, and (ii) to obtain releases of all claims against the Company, the Pension Plan and their affiliates in exchange for providing the
Foreign Offset Participants an increased benefit under this Plan. Such increased benefit is intended to result in a total benefit from this Plan and the Pension Plan equal to what would have been provided if the offset for foreign benefits provided
for by Sections 2, 3 and 4 of Appendix B of the Pension Plan had been calculated using the actuarial assumptions applicable to individuals who were active employees on December 1, 2004. 
  

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 2. Subject to the requirements of paragraph 3 of this Foreign Offset Appendix, the Company will
supplement the monthly pension payable under the Pension Plan to a Foreign Offset Participant by the amount which is the difference, if any, between (i) the employee’s monthly pension under the Pension Plan, with the offset described in
Section 2, 3 and 4 of Appendix B of the Pension Plan calculated using the actuarial assumptions actually applicable to such participants (i.e., the assumptions applicable to individuals who were not “Employees” under the Pension Plan
as of December 1, 2004), and (i) the monthly pension that would have been payable under the Pension Plan had the offset described in Sections 2, 3 and 4 of Appendix B of the Pension Plan been calculated using the actuarial assumptions
applicable to individuals who were “Employees” under the Pension Plan as of December 1, 2004. 
 3. The agreement and release
that must be executed and delivered as one of the requirements to be classified as a Foreign Offset Participant shall be in the form and have the content prescribed by the Company. Unless otherwise determined by the Company, such release shall,
among other provisions required by the Company, provide for (i) the acceptance of and consent to the Company’s calculation of the Foreign Offset Participant’s benefits under the Pension Plan and this Plan, (ii) the release of all
known and unknown claims against the Company, its subsidiaries, the Pension Plan, its fiduciaries and the affiliates of such released parties, (iii) a covenant not to sue any of the released parties, (iv) a covenant not to make any claim
for benefits under any employee benefit plan sponsored by or contributed to by the Company, its subsidiaries or affiliates, and (v) a covenant to keep confidential such release and the benefits provided under this Foreign Offset Appendix.

  

 13Form of Restricted Stock Award Agreement

 Exhibit 10.1 
 FORM OF RESTRICTED STOCK AWARD AGREEMENT 
 This Restricted Stock Award Agreement (the
“Agreement”) is made, effective as of the 17th day of February, 2009 (the “Grant Date”), by and between Max Capital Group Ltd. (the “Company”) and W. Marston Becker (the
“Grantee”). 
 RECITALS: 
 WHEREAS, the Company has adopted the Max Capital Group Ltd. 2008 Stock Incentive Plan (the “Plan”) pursuant to which awards of restricted common shares of the Company
(“Common Shares”) may be granted; and 
 WHEREAS, the Committee has determined that it is in the best
interests of the Company and its shareholders to grant the award of restricted Common Shares provided for herein (the “Restricted Stock Award”) to the Grantee in recognition of the Grantee’s services to the
Company, such grant to be subject to the terms set forth herein. 
 NOW, THEREFORE, in consideration for the mutual covenants
hereinafter set forth, the parties hereto agree as follows: 
  

	1.	Grant of Restricted Stock Award. Pursuant to Section 9 of the Plan, the Company hereby issues to the Grantee on the Grant Date a Restricted Stock Award consisting
of, in the aggregate, 33,333 Common Shares in the capital of the Company (hereinafter called the “Restricted Stock”). 

  

	2.	Incorporation by Reference. The provisions of the Plan are hereby incorporated herein by reference. Except as otherwise expressly set forth herein, this Agreement
shall be construed in accordance with the provisions of the Plan and any capitalized terms not otherwise defined in this Agreement shall have the definitions set forth in the Plan. The Committee shall have the authority to interpret and construe the
Plan and this Agreement and to make any and all determinations thereunder, and its decision shall be binding and conclusive upon the Grantee and his legal representative in respect of any questions arising under the Plan or this Agreement.

  

	3.	Restrictions. Except as provided in the Plan or this Agreement, the restrictions on the Restricted Stock are that they will be forfeited by the Grantee and all of the
Grantee’s rights to such shares shall immediately terminate without any payment or consideration by the Company, in the event of any sale, assignment, transfer, hypothecation, pledge or other alienation of such Restricted Stock made or
attempted, whether voluntary or involuntary, and if involuntary whether by process of law in any civil or criminal suit, action or proceeding, whether in the nature of an insolvency or bankruptcy proceeding or otherwise, without the written consent
of the Board. 

  

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	4.	Vesting. 

  

	 	(a)	The restrictions described in Section 3 of this Agreement will lapse with respect to 50% of the Restricted Stock on January 1, 2010; provided, that, the book
value of the underlying Common Shares on December 31, 2009 is at least 12.5% greater than the book value of such Common Shares on December 31, 2008 (the book value of Common Shares on December 31, 2008 calculated by dividing Total
Shareholders’ Equity by Common Shares Issued and Outstanding shall be referred to herein as “Baseline 1,” and the amount which is 12.5% greater than Baseline 1 shall be referred to herein as “Baseline
2”); provided, further that, the Grantee is employed by the Company on the relevant vesting date (“Tranche 1”). 

  

	 	(b)	The restrictions described in Section 3 of this Agreement will lapse with respect to 50% of the Restricted Stock on January 1, 2011, provided, that, the book
value of the underlying Common Shares on December 31, 2010 is at least 12.5% greater than Baseline 2 (such amount, “Baseline 3” and such Restricted Stock, “Tranche 2”); provided,
further that, the Grantee is employed by the Company on the relevant vesting date. If Tranche 1 does not vest on January 1, 2010, but Baseline 3 is at least 25% greater than Baseline 1, then Tranche 1 and Tranche 2 shall vest as
of January 1, 2011; provided, that, the Grantee is employed by the Company on the relevant vesting date. For the avoidance of doubt, if any tranche of Restricted Stock is unvested as of January 1, 2011, such tranche shall
automatically be forfeited by the Grantee without any payment or consideration by the Company. 

  

	 	(c)	Notwithstanding the foregoing, if on or prior to January 1, 2011, the Grantee’s employment with the Company is terminated: (i) by the Company without Cause (as
defined in the Employment Agreement between the Company and W. Marston Becker effective November 13, 2006, as may be amended from time to time (the “Employment Agreement”)), (ii) by the Grantee for Good Reason (as
defined in the Employment Agreement), (iii) upon the Grantee’s death or on account of Disability (as defined in the Employment Agreement), or (iv) following a Change in Control (as defined in the Employment Agreement), the
restrictions described in Section 3 of this Agreement shall lapse and all Restricted Stock shall automatically become vested and immediately nonforfeitable in full. 

  

	 	(d)	Change in Control. Upon the occurrence of a Change in Control (as defined in the Plan), all Restricted Stock shall automatically become vested and immediately nonforfeitable
in full. 

 For purposes of this Agreement, Total Shareholders’ Equity and Common Shares Issued and Outstanding shall be as set forth in
the consolidated balance sheet of the Company’s audited consolidated financial statements for the applicable year ended December 31. 
  

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	5.	Tax Withholding. In the event that the Company determines that tax withholding is required with respect to the Grantee, the Grantee shall be required to pay to the
Company, and the Company shall have the right to deduct from any compensation paid to the Grantee pursuant to the Plan, the amount of any required withholding taxes in respect of the Restricted Stock Award and to take such other action as the
Committee deems necessary to satisfy all obligations for the payment of such withholding and taxes. The Committee may permit the Grantee to satisfy the withholding liability: (a) in cash, (b) by having the Company withhold from the number
of Common Shares otherwise issuable or deliverable pursuant to the settlement of the Restricted Stock Award a number of shares with a Fair Market Value equal to the minimum withholding obligation, (c) by delivering Common Shares owned by the
Grantee that are Mature Shares, or (d) by a combination of any such methods. For purposes hereof, Common Shares shall be valued at Fair Market Value. 

  

	6.	Rights as Shareholder; Dividends. The Grantee shall be the record owner of the Restricted Shares unless and until such Common Shares are sold or otherwise disposed of,
and as record owner shall be entitled to all rights of a shareholder of the Company, including, without limitation, voting rights, if any, with respect to the Restricted Shares and the right to receive dividends, if any, while the Restricted Shares
are held in custody. 

  

	7.	Compliance with Laws and Regulations. The issuance and transfer of Common Shares shall be subject to compliance by the Company and the Grantee with all applicable
requirements of securities laws and with all applicable requirements of any stock exchange on which the Company’s Common Shares may be listed at the time of such issuance or transfer. 

  

	8.	No Right to Continued Employment. Nothing in this Agreement shall be deemed by implication or otherwise to impose any limitation on any right of the Company or any of
its Subsidiaries to terminate the Grantee’s employment at any time. 

  

	9.	Notices. All notices, demands and other communications provided for or permitted hereunder shall be made in writing and shall be delivered by registered or certified
first class mail, return receipt requested, telecopier, courier service or personal delivery: 

 If to the Company: 

Max Capital Group Ltd. 
 Max House 
 2 Front Street 
 Hamilton HM 11 
 Bermuda 
 If to the Grantee, at the Grantee’s last known address on file with the Company. 
 All such notices, demands and other communications shall be deemed to have been duly given when delivered by hand, if personally delivered; when delivered
by courier, if delivered by commercial courier service; five (5) business days after being deposited in the mail, postage prepaid, if mailed; and when receipt is mechanically acknowledged, if telecopied. 
  

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	10.	Bound by Plan. By signing this Agreement, the Grantee acknowledges that he has received a copy of the Plan and has had an opportunity to review the Plan and agrees to
be bound by all of the terms and provisions of the Plan. 

  

	11.	Beneficiary. The Grantee may file with the Committee a written designation of a beneficiary on such form as may be prescribed by the Committee and may, from time to
time, amend or revoke such designation. If no designated beneficiary survives the Grantee, the executor or administrator of the Grantee’s estate shall be deemed to be the Grantee’s beneficiary. 

  

	12.	Successors. The terms of this Agreement shall be binding upon and inure to the benefit of the Company, its successors and assigns, and on the Grantee and the
beneficiaries, executors and administrators, heirs and successors of the Grantee. 

  

	13.	Amendment of Restricted Stock Award. Subject to Section 14 of this Agreement, the Committee at any time and from time to time may amend the terms of this
Restricted Stock Award; provided, however, the Grantee’s rights under this Restricted Stock Award shall not be materially and adversely affected by any such amendment without the Grantee’s consent. 

 

	14.	Adjustments. This Restricted Stock Award is subject to adjustment pursuant to Section 12 of the Plan. 

  

	15.	Governing Law; Modification. This Agreement shall be governed by the laws of the state of New York without regard to the conflict of law principles. The Agreement may
not be modified except in writing signed by both parties. 

  

	16.	Interpretation. Any dispute regarding the interpretation of this Agreement shall be submitted by the Grantee or the Company to the Committee for review. The resolution
of such a dispute by the Committee shall be binding on the Company and the Grantee. 

  

	17.	Severability. Every provision of this Agreement is intended to be severable and any illegal or invalid term shall not affect the validity or legality of the remaining
terms. 

  

	18.	Headings. The headings of the Sections hereof are provided for convenience only and are not to serve as a basis for interpretation of construction, and shall not
constitute a part of this Agreement. 

  

	19.	Signature in Counterparts. This Agreement may be signed in counterparts, each of which shall be deemed an original, with the same effect as if the signatures thereto
and hereto were upon the same instrument. 

  

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 [SIGNATURE PAGE FOLLOWS] 
  

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 IN WITNESS WHEREOF, the parties hereto have signed this Agreement as of the date set forth below.

  

			
	MAX CAPITAL GROUP LTD.
		
	By:	 	  

	Name:	 	
	Title:	 	
	Date:	 	
	
	GRANTEE
		
	By:	 	  

	Name:	 	W. Marston Becker
	Date:	 	

  

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