Document:

Exhibit

    Exhibit 10.72
COMMITMENT INCREASE AGREEMENT 
(Credit Agreement)

THIS COMMITMENT INCREASE AGREEMENT (this “Commitment Increase Agreement”), dated as of December 11, 2015, is among ACE Limited, a Swiss company (the “Parent”), ACE Bermuda Insurance Ltd., a Bermuda company (“ACE Bermuda”), ACE Tempest Life Reinsurance Ltd., a Bermuda company (“Tempest Life”), ACE Tempest Reinsurance Ltd., a Bermuda company (“Tempest”), and ACE INA Holdings Inc., a Delaware corporation (“ACE INA” and together with the Parent, ACE Bermuda, Tempest Life and Tempest, the “Borrowers” and each individually a “Borrower”), the Banks party hereto (the “Increasing Banks” and each individually an “Increasing Bank”), Wells Fargo Bank, National Association, as Administrative Agent, and the Issuing Banks party hereto.

WHEREAS, the Parent, the Borrowers, various financial institutions and the Administrative Agent are party to that certain Credit Agreement dated as of November 6, 2012 (the “Credit Agreement”).  Capitalized terms used but not defined herein have the respective meanings set forth in the Credit Agreement. 

WHEREAS, the Parent has requested an increase in the aggregate Commitments on the terms and subject to the conditions set forth herein.

NOW, THEREFORE, the parties hereto agree as follows:

SECTION 1.Increase in Commitments.  Upon the occurrence of the Commitment Increase Date (as defined below): (a) each Increasing Bank agrees to increase its Commitment as specified in the second column (titled “Amount of Commitment Increase”) opposite its name on Schedule A hereto (collectively, the “Commitment Increase”); (b) after giving effect to the increases in Commitments contemplated by the foregoing clause (a), each Bank’s Commitment shall be the amount specified in the third column (titled “Amount of Commitment after Increase”) opposite its name on Schedule A hereto; (c) the aggregate Commitments under the Credit Agreement shall increase by the aggregate amount of the Commitment Increases of all Increasing Banks; and (d) the Administrative Agent and the Issuing Banks hereby consent to each Increasing Bank providing its Commitment Increase.  For avoidance of doubt, the parties agree that the Commitment Increase shall constitute an increase in the aggregate Commitment consummated in accordance with and pursuant to Section 2.19 of the Credit Agreement.
SECTION 2.Representations and Warranties.  The Parent represents and warrants as follows: 
1.Authorization.  The execution, delivery and performance by each Borrower of this Commitment Increase Agreement are within its corporate powers, have been duly authorized by all necessary corporate action, require no action by or in respect of, or filing with, any governmental authority or other Person and do not contravene, or constitute a default under, any provision of applicable law or regulation or of the memorandum of association, articles of association or by-laws (or any comparable document) of any Borrower or of any material agreement, judgment, injunction, order, decree or other instrument binding upon any Borrower or any of its Subsidiaries or result in the creation or imposition of any Lien on any asset of any Borrower or any of its Subsidiaries. 
2.Enforceability.  This Commitment Increase Agreement constitutes a legal, valid and binding obligation of the Borrowers enforceable against the Borrowers in accordance with its terms, subject to bankruptcy, insolvency or other laws of general application affecting the enforcement of creditors’ rights, the application of equitable principles and the non-availability of the equitable remedies of specific performance or injunctive relief.
3.Representations and Warranties; No Default.  All representations and warranties of the Borrowers contained in the Credit Agreement and the other Loan Documents qualified as to materiality are 

true and correct and those not so qualified are true and correct in all material respects, in each case both immediately before and after giving effect to the Commitment Increase (except to the extent any such representation or warranty is expressly stated to have been made as of a specific date, in which case such representation or warranty is true and correct (if qualified as to materiality) or true and correct in all material respects (if not so qualified), in each case as of such date), and no Default has occurred and is continuing, both immediately before and after giving effect to the Commitment Increase.
SECTION 3. Conditions Precedent.  This Commitment Increase Agreement shall become effective on the date when each of the following conditions is satisfied (such date, the “Commitment Increase Date”):
1.Counterparts.  The Administrative Agent shall have received from each Borrower and each Increasing Bank a counterpart of this Commitment Increase Agreement signed on behalf of such party.
2.Officer’s Certificate.  The Administrative Agent shall have received a certificate of a Responsible Officer, certifying that, as of the Commitment Increase Date, (a) the representations and warranties in Section 2 of this Commitment Increase Agreement are true and correct and (b) the resolutions of each Borrower delivered in connection with the closing of the Credit Agreement remain in full force and effect and are sufficient to authorize the increase in the Commitments contemplated by this Commitment Increase Agreement.
SECTION 4.Miscellaneous.
1.Confirmation; Ratification and Affirmation.  The provisions of the Credit Agreement shall remain in full force and effect following the effectiveness of this Commitment Increase Agreement.  Each Borrower hereby (a) acknowledges the terms of this Commitment Increase Agreement and (b) ratifies and affirms its obligations under, and acknowledges, renews and extends its continued liability under, each Loan Document to which it is a party and agrees that each Loan Document to which it is a party remains in full force and effect.  This Commitment Increase Agreement is a Loan Document.
2.Expenses.  The Parent agrees to pay, promptly upon receipt of a reasonably detailed invoice therefor, all reasonable and documented fees and expenses of counsel to the Administrative Agent in connection with the preparation, negotiation, execution and delivery of this Commitment Increase Agreement.
3.Successors and Assigns.  This Commitment Increase Agreement shall be binding upon, inure to the benefit of and be enforceable by the respective successors and assigns of the parties hereto.
4.Construction.  Headings used herein are for convenience of reference only and shall not affect the meaning of this Commitment Increase Agreement.
5.Incorporation of Certain Provisions.  Sections 1.02, 10.03, 10.10, 10.11, 10.12 and 10.13 of the Credit Agreement shall apply hereto as if fully set forth herein, mutatis mutandis (it being understood that references therein to “this Agreement” or “the Loan Documents” are or include references to this Commitment Increase Agreement).
6.Counterparts.  This Commitment Increase Agreement may be executed in any number of counterparts and by different parties hereto on separate counterparts, each of which shall be an original and all of which taken together shall constitute one and the same agreement.  Delivery to the Administrative Agent of a signed counterpart hereof, or signature page hereto, by facsimile or e-mail (in a .pdf or similar file) shall be effective as delivery of an original signed counterpart hereof or thereof.
 

[remainder of page intentionally LEFT BLANK]

IN WITNESS WHEREOF, the parties hereto have caused this Commitment Increase Agreement to be executed by their duly authorized officers as of the date first above written.  

ACE LIMITED
    
Authorized Officer
    
Authorized Officer
    
ACE BERMUDA INSURANCE LTD.
The Common Seal of ACE Bermuda Insurance Ltd. was hereunto affixed in the presence of:
    
Authorized Officer
    
Authorized Officer

ACE TEMPEST LIFE REINSURANCE LTD.
The Common Seal of ACE Tempest Life Reinsurance Ltd. was hereunto affixed in the presence of:
    
Authorized Officer
    
Authorized Officer

(signatures continued)

Signature Page to Commitment Increase Agreement
ACE / Wells Fargo

ACE TEMPEST REINSURANCE LTD.
The Common Seal of ACE Tempest Reinsurance Ltd. was hereunto affixed in the presence of:
    
Authorized Officer
    
Authorized Officer

ACE INA HOLDINGS INC.
    
Authorized Officer
    
Authorized Officer

(signatures continued)

Signature Page to Commitment Increase Agreement
ACE / Wells Fargo

WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent, as an Issuing Bank, and as an Increasing Bank

By:    ________________________________
Name:    ________________________________
Title:    ________________________________

Signature Page to Commitment Increase Agreement
ACE / Wells Fargo 

Citibank N.A., as an Issuing Bank and as an Increasing Bank

                                                                      	
		
	By:
	 

	Name:
	 

	Title:
	 

JMORGAN CHASE BANK, N.A., as an Increasing Bank

                                                                       	
		
	By:
	 

	Name:
	 

	Title:
	 

BARCLAYS BANK PLC, as an Increasing Bank

                                                                            	
		
	By:
	 

	Name:
	 

	Title:
	 

HSBC BANK USA, National Association,
as an Increasing Bank

                                                                               	
		
	By:
	 

	Name:
	 

	Title:
	 

LLOYDS BANK plc, as an Increasing Bank
                                                                                	
		
	By:
	 

	Name:
	 

	Title:
	 

	 
	 

                                                                               	
		
	By:
	 

	Name:
	 

	Title:
	 

	 
	 

Signature Page to Commitment Increase Agreement
ACE / Wells Fargo 

The Bank of Tokyo-Mitsubishi, UFJ, Ltd. as an Increasing Bank

                                                                             	
		
	By:
	 

	Name:
	 

	Title:
	 

BANK OF AMERICA, N.A., as an Increasing Bank

                                                                             	
		
	By:
	 

	Name:
	 

	Title:
	 

Australia and New Zealand Banking Group 
Limited, as an Increasing Bank

                                                                                	
		
	By:
	 

	Name:
	 

	Title:
	 

ING BANK N.V., London Branch, as an Increasing Bank

                                                                                  	
		
	By:
	 

	Name:
	 

	Title:
	 

                                                                                 	
		
	By:
	 

	Name:
	 

	Title:
	 

Signature Page to Commitment Increase Agreement
ACE / Wells Fargo

State Street Bank and Trust Company, as an 
Increasing Bank

                                                                                 	
		
	By:
	 

	Name:
	 

	Title:
	 

The Royal Bank of Scotland, plc, as an Increasing Bank

                                                                                   	
		
	By:
	 

	Name:
	 

	Title:
	 

GOLDMAN SACHS BANK USA, as an Increasing Bank

                                                                                    	
		
	By:
	 

	Name:
	 

	Title:
	 

MORGAN STANLEY BANK, N.A.,
as an Increasing Bank

                                                                                     	
		
	By:
	 

	Name:
	 

	Title:
	 

Royal Bank of Canada, as an Increasing Bank

                                                                                    	
		
	By:
	 

	Name:
	 

	Title:
	 

Signature Page to Commitment Increase Agreement
     ACE / Wells Fargo

Standard Chartered Bank, 
as an Increasing Bank

                                                                              	
		
	By:
	 

	Name:
	 

	Title:
	 

THE BANK OF NEW YORK MELLON, as an Increasing Bank

                                                                             	
		
	By:
	 

	Name:
	 

	Title:
	 

Signature Page to Commitment Increase Agreement
ACE / Wells Fargo

SCHEDULE A

COMMITMENTS

	
				
	Bank
	Amount of Existing Commitment
	Amount of Commitment Increase
	Amount of Commitment after Increase

	Wells Fargo Bank, National Association
	$100,000,000
	$50,000,000
	$150,000,000

	Citibank, N.A.
	$100,000,000
	$50,000,000
	$150,000,000

	JPMorgan Chase Bank, N.A.
	$100,000,000
	$50,000,000
	$150,000,000

	Barclays Bank PLC
	$75,000,000
	$37,500,000
	$112,500,000

	HSBC Bank USA, National Association
	$75,000,000
	$37,500,000
	$112,500,000

	Lloyds Bank plc
	$75,000,000
	$37,500,000
	$112,500,000

	The Bank of Tokyo-Mitsubishi UFJ, Ltd.
	$75,000,000
	$37,500,000
	$112,500,000

	Bank of America, N.A.
	$75,000,000
	$37,500,000
	$112,500,000

	Australia and New Zealand Banking Group Limited
	$50,000,000
	$25,000,000
	$75,000,000

	ING Bank N.V., London Branch
	$50,000,000
	$25,000,000
	$75,000,000

	State Street Bank and Trust Company
	$50,000,000
	$25,000,000
	$75,000,000

	The Royal Bank of Scotland plc
	$50,000,000
	$25,000,000
	$75,000,000

	Goldman Sachs Bank USA
	$25,000,000
	$12,500,000
	$37,500,000

	Morgan Stanley Bank, N.A.
	$25,000,000
	$12,500,000
	$37,500,000

	Royal Bank of Canada
	$25,000,000
	$12,500,000
	$37,500,000

	Standard Chartered Bank
	$25,000,000
	$12,500,000
	$37,500,000

	The Bank of New York Mellon
	$25,000,000
	$12,500,000
	$37,500,000

	TOTAL
	$1,000,000,000
	$500,000,000
	$1,500,000,000Exhibit

Exhibit 10.73

Chubb Limited
Performance Based Restricted Stock Award Terms
under the
ACE Limited 2004 Long-Term Incentive Plan
The Participant has been granted a Performance Based Restricted Stock Award by Chubb Limited (the “Company”) under the ACE Limited 2004 Long-Term Incentive Plan (the “Plan”).  The shares of Stock granted as Covered Performance Shares and Premium Performance Shares pursuant to this Performance Based Restricted Stock Award shall be subject to the following Performance Based Restricted Stock Award Terms:
1.Terms of Award.  The following words and phrases used in these Performance Based Restricted Stock Award Terms shall have the meanings set forth in this paragraph 1:

		
	(a)
	The “Participant” is [Insert Name], who is the individual recipient of the Performance Based Restricted Stock Award on the specified Grant Date.

		
	(b)
	The “Grant Date” is [Insert Date].

		
	(c)
	The “Commencement Date” is [Insert Date].

		
	(d)
	The number of “Covered Performance Shares” is [Insert Number], which is 50% [75% for Chief Executive Officer][66% for Vice Chairman and COO] of that portion of the Participant’s annual Long-Term Incentive Award which is granted in the form of restricted shares for the year in which the Grant Date occurs, as reflected in the corporate records and shown in the Record-Keeping System in the Participant’s individual account records.

		
	(e)
	The number of Premium Performance Shares is [Insert number equal to the number of Covered Performance Shares].

Other words and phrases used in these Performance Based Restricted Stock Award Terms are defined pursuant to paragraph 13 or elsewhere in these Performance Based Restricted Stock Award Terms.
2.Restricted Period.  Subject to the limitations of these Performance Based Restricted Stock Award Terms, the “Restricted Period” for each Installment of Covered Performance Shares of the Performance Based Restricted Stock Award shall begin on the Grant Date and end as described below (but only if the Date of Termination has not occurred before the end of the Restricted Period):

		
	(a)
	The Restricted Period shall end with respect to a number of the Covered Performance Shares determined by multiplying one quarter (1/4) of the Covered Performance Shares (the “First Installment”) by the applicable Performance Percentage on the later of the applicable Certification Date (as defined below) or the one-year anniversary of the Grant Date, if the Performance Goal has been fully or partially satisfied for the measurement period beginning on the Commencement 

Date and ending on the one-year anniversary of the Commencement Date (the “First Installment Primary Performance Measurement Period”).  If the Performance Goal with respect to the First Installment Primary Performance Measurement Period has not been fully satisfied such that the applicable Performance Percentage did not equal 100% for the First Installment Primary Performance Measurement Period, then the Restricted Period for all or a portion of the First Installment shall end on the earliest of the two-year, three-year, or four-year anniversary of the Grant Date (or, if later than the anniversary of the Grant Date, on the applicable Certification Date) on which the Performance Goal has been fully or partially satisfied for the measurement period beginning on the Commencement Date and ending on the two-year, three-year, or four-year anniversary of the Commencement Date, as applicable (each, a “First Installment Secondary Performance Measurement Period”) and the Performance Percentage as measured over any First Installment Secondary Performance Measurement Period is greater than it was over the First Installment Primary Performance Measurement Period or any previous First Installment Secondary Performance Measurement Period.  For any First Installment Secondary Performance Measurement Period pursuant to which the conditions of the previous sentence have been met, the Restricted Period shall end with respect to a number of the Covered Performance Shares determined by multiplying the number of shares in the First Installment by the applicable Performance Percentage for such First Installment Secondary Performance Measurement Period minus the greatest applicable Performance Percentage taken into account in any previous Performance Measurement Period for the First Installment on the later of the applicable Certification Date (as defined below) or the applicable anniversary of the Grant Date.

		
	(b)
	The Restricted Period shall end with respect to a number of the Covered Performance Shares determined by multiplying one quarter (1/4) of the Covered Performance Shares (the “Second Installment”) by the applicable Performance Percentage on the later of the applicable Certification Date or the two-year anniversary of the Grant Date, if the Performance Goal has been fully or partially satisfied for the measurement period beginning on the one-year anniversary of the Commencement Date and ending on the two-year anniversary of the Commencement Date (the “Second Installment Primary Performance Measurement Period”).  If the Performance Goal with respect to the Second Installment Primary Performance Measurement Period has not been fully satisfied such that the applicable Performance Percentage did not equal 100% for the Second Installment Primary Performance Measurement Period, then the Restricted Period for all or a portion of the Second Installment shall end on the earlier of the three-year anniversary or the four-year anniversary of the Grant Date (or, if later than the anniversary of the Grant Date, on the applicable Certification Date) on which the Performance Goal has been fully or partially satisfied for the measurement period beginning on the one-year anniversary of the Commencement Date and ending on the three-year or four-year anniversary date of the Commencement Date, as applicable (each, a “Second Installment Secondary Performance Measurement Period”) and the Performance Percentage as measured over any Second Installment Secondary Performance Measurement Period is greater than it was over the Second Installment Primary Performance Measurement Period or any previous Second Installment Secondary Performance Measurement Period.  For any Second Installment Secondary Performance Measurement Period pursuant to which the conditions of the previous sentence have been met, the Restricted Period shall end with respect to a number of the Covered Performance Shares determined by multiplying the number of shares in the Second Installment by the applicable Performance Percentage for such Second Installment Secondary Performance Measurement Period minus the greatest applicable Performance Percentage taken into account in any previous Performance Measurement Period for the Second Installment on the later of the applicable Certification Date (as defined below) or the applicable anniversary of the Grant Date.

		
	(c)
	The Restricted Period shall end with respect to a number of the Covered Performance Shares determined by multiplying one quarter (1/4) of the Covered Performance Shares (the “Third Installment”) by the applicable Performance Percentage on the later of the applicable Certification Date or the three-year anniversary of the Grant Date, if the Performance Goal has been fully or partially satisfied for the measurement period beginning on the two-year anniversary of the Commencement Date and ending on the three-year anniversary of the Commencement Date (the “Third Installment Primary Performance Measurement Period”).  If the Performance Goal with respect to the Third Installment Primary Performance Measurement Period has not been fully satisfied such that the applicable Performance Percentage did not equal 100% for the Third Installment Primary Performance Measurement Period, then the Restricted Period for all or a portion of the Third Installment shall end on the four-year anniversary of the Grant Date (or, if later than the anniversary of the Grant Date, on the applicable Certification Date) if the Performance Goal has been fully or partially satisfied for the measurement period beginning on the two-year anniversary of the Commencement Date and ending on the four-year anniversary of the Commencement Date (the “Third Installment Secondary Performance Measurement Period”) and the Performance Percentage as measured over the Third Installment Secondary Performance Measurement Period is greater than it was over the Third Installment Primary Performance Measurement Period.  If, for the Third Installment Secondary Performance Measurement Period, the conditions of the previous sentence have been met, the Restricted Period shall end with respect to a number of the Covered Performance Shares determined by multiplying the number of shares in the Third Installment by the applicable Performance Percentage for such Third Installment Secondary Performance Measurement Period minus the applicable Performance Percentage taken into account for the Third Installment Primary Performance Measurement Period on the later of the applicable Certification Date (as defined below) or the applicable anniversary of the Grant Date.

		
	(d)
	The Restricted Period shall end with respect to a number of the Covered Performance Shares determined by multiplying one quarter (1/4) of the Covered Performance Shares (the “Fourth Installment”) by the applicable Performance Percentage on the later of the applicable Certification Date or the four-year anniversary of the Grant Date, if the Performance Goal has been fully or partially satisfied for the measurement period beginning on the three-year anniversary of the Commencement Date and ending on the four-year anniversary of the Commencement Date (which measurement period shall be both the “Fourth Installment Primary Performance Measurement Period” and the “Fourth Installment Secondary Performance Measurement Period”).

		
	(e)
	If the Cumulative Performance of the Company during the period beginning on the Commencement Date and ending on the four-year anniversary of the Commencement Date (the “Four-Year Performance Measurement Period”) is greater than the Cumulative Performance of 50% of the Peer Companies, the Restricted Period shall end for any Covered Performance Shares that have not previously vested in accordance with this paragraph 2 on the date the Committee certifies that the requisite Cumulative Performance has been achieved during the applicable Four-Year Performance Measurement Period (which date of certification is the “Cumulative Performance Certification Date”).    

For the avoidance of doubt, the Restricted Period with respect to any Installment shall end only upon the Committee’s certification that the Performance Goal with respect to such Installment for the applicable Performance Measurement Period has been satisfied (which date of certification with respect to any Installment is the “Certification Date” applicable to such Installment).

3.Retirement.  If the Participant’s Date of Termination occurs because of Retirement, then for any Covered Performance Shares and any Premium Performance Shares as to which the Restricted Period has not otherwise ended prior to the Date of Termination, the Participant shall become vested and the Restricted Period shall end for any Covered Performance Shares if and when the terms of paragraph 2 are satisfied with respect to such Covered Performance Shares and for any Premium Performance Shares if and when the terms of paragraph 7 are satisfied with respect to such Premium Performance Shares, in each case, determined as though the Participant had remained employed and the Date of Termination had not occurred prior to the end of any applicable Restricted Period for purposes of this Agreement.

4.Death, Long-Term Disability and Change in Control.  Notwithstanding the provisions of paragraph 2, the Restricted Period for one or more Installments of Covered Performance Shares shall end prior to the date specified in the schedule set forth in paragraph 2 to the extent set forth below:

		
	(a)
	For Covered Performance Shares as to which the Restricted Period has not ended prior to the Date of Termination, the Restricted Period for such Covered Performance Shares shall end upon the Participant’s Date of Termination, and the Installments shall vest upon the Date of Termination, if the Date of Termination occurs by reason of the Participant’s death.

		
	(b)
	For Covered Performance Shares as to which the Restricted Period has not ended prior to the Date of Termination, the Restricted Period for such Covered Performance Shares shall end upon the Participant’s Date of Termination, and the Installments shall vest upon the Date of Termination, if the Date of Termination occurs by reason of the Participant’s Long-Term Disability.

		
	(c)
	If the Participant's Date of Termination is a Change in Control Date of Termination, then, for Covered Performance Shares, if any, as to which the Restricted Period has not ended prior to the Participant’s Date of Termination, the Restricted Period for such Covered Performance Shares will end on the Change in Control Date of Termination; provided that if the Participant's Change in Control Date of Termination occurs within the 180-day period immediately preceding the date of a Change in Control, then the Restricted Period for all unvested Covered Performance Shares held by the Participant on the Date of Termination will end, and those Covered Performance Shares will vest on the date of a Change in Control.

5.Qualifying Termination.  Notwithstanding the provisions of paragraph 2, for Installments of Covered Performance Shares as to which the Restricted Period has not ended prior to the Date of Termination and the Date of Termination occurs by reason of the Participant’s Qualifying Termination, vesting shall continue pursuant to the schedule set forth in paragraph 2 following the Date of Termination as though the Participant continued to be employed through the two-year anniversary of the Participant’s Date of Termination, subject to the Participant not engaging in any Competitive Activity during such two-year period and subject to the Participant signing and not revoking a general release and waiver of all claims against the Company and such release is effective no later than the sixty-day anniversary of the Date of Termination.  If such release is not effective within such sixty-day period or in the event that the Participant engages in a Competitive Activity prior to the last day of the Restricted Period for any Installment, the Participant shall immediately forfeit any unvested Installments of Covered Performance Shares. 

6.Transfer and Forfeiture of Shares.  The transfer and forfeiture of shares shall be subject to the following:

		
	(a)
	Except as provided in paragraphs 3, 4 and 5 above, the Participant will be vested in any Covered Performance Shares if the Date of Termination has not occurred prior to the last day of the Restricted Period with respect to those shares and the requirements of paragraph 2 have been satisfied.  Upon vesting at the end of such Restricted Period, those shares will be delivered to the Participant free of all restrictions.

		
	(b)
	Except as otherwise determined by the Committee and as provided in paragraphs 3, 4 and 5 above, the Participant shall forfeit any Covered Performance Shares as of the Date of Termination, if such Date of Termination occurs prior to vesting of those shares.  Any Covered Performance Shares that have not vested as of the end of the Restricted Period that includes the Four-Year Performance Measurement Period shall be forfeited by the Participant as of the Cumulative Performance Certification Date.

		
	(c)
	Notwithstanding anything to the contrary in any agreement between the Participant and the Company or a Subsidiary, the Participant acknowledges and agrees that the Covered Performance Shares and Premium Performance Shares shall vest (and the Restricted Period shall end) only as provided by, and subject to the terms of, this Performance Based Restricted Stock Award.

7.Premium Performance Shares.  The vesting of the Premium Performance Shares  under this paragraph 7 will be based on the Cumulative Performance of Chubb Limited during the Four-Year Performance Measurement Period and will be determined as follows:

		
	(a)
	The Restricted Period shall end for the number of the Premium Performance Shares determined by multiplying the number of Covered Performance Shares that became vested pursuant to the terms of paragraph 2 by the Premium Award Performance Percentage (as determined below).

		
	(b)
	The Premium Award Performance Percentage will be determined in accordance with the following schedule:

	
		
	If the Cumulative Performance of Chubb
Limited during the Four-Year Performance
Measurement Period:
	The Premium Award
Performance Percentage will be:

	Does not exceed the 50th percentile of the
Cumulative Performance of the Peer Companies
	0%

	Exceeds the 50th percentile, but does not exceed
the 65th percentile, of the Cumulative Performance
of the Peer Companies
	0%, as increased to the extent, if any, provided pursuant to the following provisions of this paragraph (b)

	Exceeds the 65th percentile, but does not exceed
the 75th percentile, of the Cumulative Performance
of the Peer Companies
	50%, as increased to the extent, if any, provided pursuant to the following provisions of this paragraph (b)

	Exceeds the 75th percentile of the Cumulative Performance of the Peer Companies
	100%

	If the Cumulative Performance of Chubb Limited exceeds the 50th percentile but does not exceed the 65th percentile of the Cumulative Performance of the Peer Companies during the Four-Year Performance Measurement Period, then the Premium Award Performance Percentage will be a percentage between 0% and 50%, based on an interpolation of the Chubb Limited Cumulative Performance falling between the 50th percentile and 65th percentile of the Cumulative Performance of the Peer Companies during the Four-Year Performance Measurement Period.
If the Cumulative Performance of Chubb Limited exceeds the 65th percentile but does not exceed the 75th percentile of the Cumulative Performance of the Peer Companies during the Four-Year Performance Measurement Period, then the Premium Award Performance Percentage will be a percentage between 50% and 100%, based on an interpolation of the Chubb Limited Cumulative Performance falling between the 65th percentile and 75th percentile of the Cumulative Performance of the Peer Companies during the Four-Year Performance Measurement Period.

		
	(c)
	Notwithstanding the foregoing provisions of this paragraph 7, the Participant shall vest in the number of Premium Performance Shares determined above on the later of the Cumulative Performance Certification Date or the four-year anniversary of the Grant Date, but only if the Committee certifies that the requisite Cumulative Performance has been achieved during the applicable Four-Year Performance Measurement Period on the Cumulative Performance Certification Date. Upon vesting at the end of such Restricted Period, those shares will be delivered to the Participant free of all restrictions.  Except as provided in paragraph 3 for a Date of Termination that occurs because of Retirement, the Participant shall not be entitled to vesting of any Premium Performance Shares if the Date of Termination occurs before the later of the Cumulative Performance Certification Date or the four-year anniversary of the Grant Date for any reason.

8.Withholding.  All deliveries and distributions and the vesting of shares of stock under these Performance Based Restricted Stock Award Terms are subject to withholding of all applicable taxes.  At the election of the Participant, and subject to such rules and limitations as may be established by the Committee from time to time, such withholding obligations may be satisfied through the surrender of shares of Stock which the Participant already owns, or to which the Participant is otherwise entitled under the Plan; provided, however, that such shares may be used to satisfy not more than the Company’s 

minimum statutory withholding obligation (based on minimum statutory withholding rates for Federal and state tax purposes, including payroll taxes, that are applicable to such supplemental taxable income).

9.Transferability.  Except as otherwise provided by the Committee, awards under these Performance Based Restricted Stock Award Terms may not be sold, assigned, transferred, pledged or otherwise encumbered prior to vesting and delivery.

10.Dividends.  Dividends paid with respect to the Covered Performance Shares and the Premium Performance Shares with respect to record dates on or after the Grant Date for such shares but prior to the end of the Restricted Period for such shares shall be accumulated and distributed to the Participant on the date that the Restricted Period ends with respect to the share pursuant to which such dividend was paid; provided, however that no dividends or distributions shall be payable to or for the benefit of the Participant with respect to record dates for such dividends or distributions for any Covered Performance Shares or Premium Performance Shares occurring on or after the date, if any, on which the Participant has forfeited those shares.  Notwithstanding the foregoing, if the right to the payment of dividends with respect to a Covered Performance Share or a Premium Performance Share would otherwise constitute nonqualified deferred compensation subject to Section 457A of the Internal Revenue Code (“Code Section 457A”), then, (i) any dividends accumulated in relation to Covered Performance Shares and Premium Performance Shares as of the date that the right to receive such payments is no longer treated as subject to a substantial risk of forfeiture for purposes of Code Section 457A (the “457A Vesting Date”) shall be used to purchase additional Covered Performance Shares and Premium Performance Shares subject to the same vesting provisions of the original Covered Performance Shares and Premium Performance Shares to which such accumulated dividends relate and any remaining unused cash amounts that are not sufficient to purchase an additional share shall be distributed to the Participant and (ii) any dividends that are paid on or after the 457A Vesting Date but prior to the vesting of the Covered Performance Shares and Premium Performance Shares shall be used to purchase additional Covered Performance Shares and Premium Performance Shares subject to the same vesting provisions of the original Covered Performance Shares and Premium Performance Shares to which such dividends relate and any remaining unused cash amounts that are not sufficient to purchase an additional share shall be distributed to the Participant.

11.Voting.  The Participant shall not be prevented from voting the Covered Performance Shares merely because those shares are subject to the restrictions imposed by these Performance Based Restricted Stock Award Terms and the Plan; provided, however, that the Participant shall not be entitled to vote Covered Performance Shares with respect to record dates for any Covered Performance Shares occurring on or after the date, if any, on which the Participant has forfeited those shares. The Participant acknowledges and agrees that he or she shall not be entitled to vote any Premium Performance Shares if the record date for entitlement to voting occurs prior to the date on which such shares become vested pursuant to paragraph 7.

12.Deposit of Performance Based Restricted Stock Award.  Each certificate issued in respect of the Covered Performance Shares and Premium Performance Shares awarded under these Performance Based Restricted Stock Award Terms shall be registered in the name of the Participant and shall be deposited in a bank designated by the Committee.

13.Definitions.  For purposes of these Performance Based Restricted Stock Award Terms, words and phrases shall be defined as follows:

		
	(a)
	Cause.  The term “Cause” shall mean - unless otherwise defined in an employment agreement between the Participant and the Company or Subsidiary - the occurrence of any of the following:

(i)  a conviction of the Participant with respect to a (x) felony or (y) a misdemeanor involving moral turpitude; or
(ii)  willful misconduct or gross negligence by the Participant resulting, in either case, in harm to the Company or any Subsidiary; or
(iii)  failure by the Participant to carry out the lawful and reasonable directions of the Board or the Participant’s immediate supervisor, as the case may be; or
(iv)  refusal to cooperate or non-cooperation by the Participant with any governmental regulatory authority; or
(v)  fraud, embezzlement, theft or dishonesty by the Participant against the Company or any Subsidiary or a material violation by the Participant of a policy or procedure of the Company, resulting, in any case, in harm to the Company or any Subsidiary.

		
	(b)
	Change in Control.  The term “Change in Control” shall be defined as set forth in the Plan.

		
	(c)
	Change in Control Date Termination.  The term “Change in Control Date of Termination” means the Participant’s Date of Termination that occurs because the Company and/or any of the Related Companies terminates the Participant’s employment with the Company and/or the Related Companies without Cause (other than due to death, a Long-Term Disability or a Retirement) or because the Participant terminates his or her employment for Good Reason, provided that such termination in accordance with this paragraph 13(c) occurs during the period commencing on the 180th day immediately preceding a Change in Control date and ending on the two-year anniversary of such Change in Control date.

		
	(d)
	Competitive Activity - The term “Competitive Activity” means the Participant’s: (i) engagement in an activity - whether as an employee, consultant, principal, member, agent, officer, director, partner or shareholder (except as a less than 1% shareholder of a publicly traded company) - that is competitive with any business of the Company or any Subsidiary conducted by the Company or such Subsidiary during the Participant’s employment with the Company or the two-year period following the Date of Termination; (ii) solicitation of any client and/or customer of the Company or any affiliate with respect to an activity prohibited by subparagraph (d)(i); (iii) solicitation or employment of any employee of the Company or any affiliate for the purpose of causing such employee to terminate his or her employment with the Company or such affiliate; or (iv) failure to keep confidential all Company trade secrets, proprietary and confidential information.  

		
	(e)
	Cumulative Performance.  The term “Cumulative Performance” means, as to Chubb Limited or the Peer Companies, the growth in tangible book value per common shares outstanding as reported under GAAP for Chubb Limited or the Peer Companies during the Four-Year Performance Measurement Period beginning on the Commencement Date and ending on the fourth anniversary of the Commencement Date.  The determination of the Cumulative Performance and its parameters is subject to rules established by the Committee within 90 days of the beginning of the Four-Year Performance Measurement Period.  The Committee, in its discretion, may adjust the reported tangible book value for Chubb Limited or the Peer Companies for any Four-Year Performance Measurement Period; provided, however, that no such adjustment may result in an increase in the number of Covered Performance Shares or Premium Performance Shares which vest (as described in paragraph 7) over the number of shares that would have otherwise vested had the reported tangible book value for either Chubb Limited or the Peer Companies not been adjusted.

		
	(f)
	Date of Termination.  A Participant’s “Date of Termination” means, with respect to an employee, the date on which the Participant’s employment with the Company and the Subsidiaries terminates for any reason, and with respect to a Director, the date immediately following the last day on which the Participant serves as a Director; provided that a Date of Termination shall not be deemed to occur by reason of a Participant’s transfer of employment between the Company and a Subsidiary or between two Subsidiaries; further provided that a Date of Termination shall not be deemed to occur by reason of a Participant’s cessation of service as a Director if immediately following such cessation of service the Participant becomes or continues to be employed by the Company or a Subsidiary, nor by reason of a Participant’s termination of employment with the Company or a Subsidiary if immediately following such termination of employment the Participant becomes or continues to be a Director; and further provided that a Participant’s employment shall not be considered terminated while the Participant is on a leave of absence from the Company or a Subsidiary approved by the Participant’s employer.

		
	(g)
	Director.  The term “Director” means a member of the Board, who may or may not be an employee of the Company or a Subsidiary.

		
	(h)
	Forfeiture Payment.  The term “Forfeiture Payment” means the pre-tax proceeds from sales or other transfers, if any, of the number of shares of Stock that became vested during the Restrictive Covenant Period pursuant to this Agreement and that the Participant has sold or otherwise transferred prior to the date of repayment required pursuant to subparagraph 21(b).  For purposes of this definition, pre-tax proceeds for any shares of Stock that were transferred by the Participant in a transaction other than a sale on the New York Stock Exchange means the Fair Market Value of such shares on the New York Stock Exchange as of the date of such transaction.

		
	(i)
	Forfeiture Shares.   The term “Forfeiture Shares” means the number of shares of Stock that became vested during the Restrictive Covenant Period pursuant to this Agreement and that remain held by the Participant as of the date of repayment required pursuant to subparagraph 21(b).  It is the Participant’s responsibility to ensure that the shares of Stock delivered as Forfeiture Shares are the shares of Stock delivered previously pursuant to this Agreement. In the absence of Company records or written documentation from Participant’s broker demonstrating this fact, the Participant must deliver to the Company the Forfeiture Payment determined as of the date that such shares of Stock delivered pursuant to this Agreement are transferred from Participant’s stock account or otherwise become indistinguishable from other shares of Stock that the Participant may hold.

		
	(j)
	Good Reason.  The term “Good Reason” shall mean - unless otherwise defined in an in-force employment agreement between the Participant and the Company or Subsidiary - the occurrence of any of the following within the 60-day period preceding a Date of Termination without the Participant’s prior written consent:

(i)  a material adverse diminution of the Participant’s titles, authority, duties or responsibilities, or the assignment to the Participant of titles, authority, duties or responsibilities that are materially inconsistent with his or her titles, authority, duties and/or responsibilities in a manner materially adverse to the Participant; or
(ii)  a reduction in the Participant’s base salary or annual bonus opportunity (other than any reduction applicable to all similarly situated Executives generally); or
(iii)  a failure of the Company to obtain the assumption in writing of its obligations under the Plan by any successor to all or substantially all of the assets of the Company within 45 days after a merger, consolidation, sale or similar transaction that qualifies as a Change in Control.

		
	(k)
	Long-Term Disability.  A Participant shall be considered to have a “Long-Term Disability” if the Participant is determined to be eligible for long-term disability benefits under the long-term disability plan in which the Participant participates and which is sponsored by the Company or a Subsidiary; or if the Participant does not participate in a long-term disability plan sponsored by the Company or a Subsidiary, then the Participant shall be considered to have a “Long-Term Disability” if the Committee determines, under standards comparable to those of the Company’s long-term disability plan, that the Participant would be eligible for long-term disability benefits if he or she participated in such plan.

		
	(l)
	Peer Companies.  The term “Peer Companies” means the companies which are in the Chubb Financial Performance Peer Group as determined by the Committee within 90 days of the beginning of the applicable Performance Period and for which financial information is available for all year(s) in such Performance Measurement Period.  

		
	(m)
	Performance Goal.  The term “Performance Goal” for any Primary Performance Measurement Period or Secondary Performance Measurement Period means the achievement by Chubb Limited of growth in tangible book value per common shares outstanding as reported under GAAP during such Performance Measurement Period, as compared to the growth in tangible book value per common shares outstanding as reported under GAAP during the same Performance Measurement Period by the Peer Companies.  The determination of the Performance Goal and its parameters is subject to rules established by the Committee within 90 days of the beginning of the applicable Performance Measurement Period.  The Committee, in its discretion, may adjust the reported tangible book value for Chubb Limited or the Peer Companies for any Primary Performance Measurement Period or Secondary Performance Measurement Period; provided, however, that no such adjustment may result in an increase in the number of Covered Performance Shares which are earned and vested at the end of any such Performance Measurement Period over the number of Covered Performance Shares that would have been earned and vested had the reported tangible book value for either Chubb Limited or the Peer Companies not been adjusted.

		
	(n)
	Performance Measurement Period.  The term “Performance Measurement Period” shall mean the Primary Performance Measurement Period or the Secondary Performance Measurement Period, as applicable, with respect to an Installment of Covered Performance Shares; and shall mean the Four-Year Performance Measurement Period with respect to the Covered Performance Shares as described in paragraph 2(e) and Premium Performance Shares as described in paragraph 7.

		
	(o)
	Performance Percentage.  The term “Performance Percentage” shall mean the applicable Performance Percentage determined based on the achievement of the Performance Goal over a Performance Measurement Period by Chubb Limited as compared to the Peer Companies:

	
		
	If the Satisfaction of Chubb
Limited of the Performance Goal during the applicable  Performance Measurement Period:
	The Performance Percentage will be:

	Does not exceed the 25th percentile of the
satisfaction of the Performance Goal of the Peer Companies
	0%

	Exceeds the 25th percentile, but does not exceed
the 50th percentile, of the satisfaction of the Performance Goal of the Peer Companies
	50%, as increased to the extent, if any, provided pursuant to the following provisions of this paragraph (o)

	Exceeds the 50th percentile of the satisfaction of the Performance Goal of the Peer Companies
	100%

If the performance of Chubb Limited exceeds the 25th percentile but does not exceed the 50th percentile of the satisfaction of the Performance Goal of the Peer Companies during the applicable Performance Period, then the Performance Percentage will be a percentage between 50% and 100%, based on an interpolation of the Chubb Limited performance falling between the 25th percentile and 50th percentile of the satisfaction of the Performance Goal of the Peer Companies during the applicable Performance Period.
		
	(p)
	Qualifying Termination.  The term “Qualifying Termination” means the Participant’s Date of Termination that occurs because the Company and/or any of the Related Companies terminates the Participant’s employment with the Company and/or the Related Companies without Cause.  For the avoidance of doubt, the termination of the Participant’s employment due to death or Long-Term Disability, or a voluntary termination of the Participant’s employment by the Participant for any reason (including Good Reason or Retirement) shall not constitute a Qualifying Termination for the purposes of this Agreement. 

		
	(q)
	Restrictive Covenant Period.  The term “Restrictive Covenant Period” means the twenty-four month period following a Date of Termination due to a Qualifying Termination or a Retirement.

		
	(r)
	Retirement.  The term “Retirement” means the Participant’s Date of Termination that occurs on or after the Participant has both completed at least ten years of service with the Company or a Subsidiary and attained at least age 62; provided, however, that a Date of Termination will not be treated as a Retirement unless the Participant (i) has terminated employment in good standing with the Company or a Subsidiary, and (ii) executes an agreement and release as required by the Company which will include, without limitation, a general release, and non-competition and non-solicitation provisions.  A Participant shall be deemed to have executed a release as described in clause (ii) above only if such release is returned by such time as is established by the Company; provided that to the extent benefits provided pursuant to the Plan would be considered to be provided under a nonqualified deferred compensation plan as that term is defined in Treas. Reg. §1.409A-1, such benefits shall be paid to the Participant only if the release is returned in time to permit the distribution of the benefits to satisfy the requirements of Section 409A of the Internal Revenue Code with respect to the time of payment.

14.Plan Definitions.  Except where the context clearly implies or indicates the contrary, a word, term, or phrase used in the Plan is similarly used in these Performance Based Restricted Stock Award Terms.

15.Heirs and Successors.  These Performance Based Restricted Stock Terms shall be binding upon, and inure to the benefit of, the Company and its successors and assigns, and upon any person acquiring, whether by merger, consolidation, purchase of assets or otherwise, all or substantially all of the Company’s assets and business.  If any benefits deliverable to the Participant under these Performance Based Restricted Stock Terms have not been delivered at the time of the Participant’s death, such benefits shall be delivered to the Designated Beneficiary, in accordance with the provisions of these Performance Based Restricted Stock Terms and the Plan.  The “Designated Beneficiary” shall be the beneficiary or beneficiaries designated by the Participant in a writing filed with the Committee in such form and at such time as the Committee shall require.  If a deceased Participant fails to designate a beneficiary, or if the Designated Beneficiary does not survive the Participant, any rights that would have been exercisable by the Participant and any benefits distributable to the Participant shall be distributed to the legal representative of the estate of the Participant.  If a deceased Participant designates a beneficiary and the Designated Beneficiary survives the Participant but dies before the complete distribution of benefits to the Designated Beneficiary under these Performance Based Restricted Stock Terms, then any benefits distributable to the Designated Beneficiary shall be distributed to the legal representative of the estate of the Designated Beneficiary.

16.Administration.  The authority to manage and control the operation and administration of these Performance Based Restricted Stock Award Terms shall be vested in the Committee, and the Committee shall have all powers with respect to these Performance Based Restricted Stock Award Terms as it has with respect to the Plan.  Any interpretation of these Performance Based Restricted Stock Award Terms by the Committee and any decision made by it with respect to these Performance Based Restricted Stock Award Terms are final and binding on all persons.

17.Plan and Corporate Records Govern.  Notwithstanding anything in these Performance Based Restricted Stock Award Terms to the contrary, these Performance Based Restricted Stock Award Terms shall be subject to the terms of the Plan, a copy of which may be obtained by the Participant from the office of the Secretary of the Company; and these Performance Based Restricted Stock Award Terms are subject to all interpretations, amendments, rules and regulations promulgated by the Committee from time to time pursuant to the Plan.  Notwithstanding anything in the Performance Based Restricted Stock Terms to the contrary, in the event of any discrepancies between the corporate records regarding this award and the Record-Keeping System, the corporate records shall control.

18.Not An Employment Contract.  The Performance Based Restricted Stock Award will not confer on the Participant any right with respect to continuance of employment or other service with the Company or any Subsidiary, nor will it interfere in any way with any right the Company or any Subsidiary would otherwise have to terminate or modify the terms of such Participant’s employment or other service at any time.

19.Notices.  Any written notices provided for in these Performance Based Restricted Stock Award Terms or the Plan shall be in writing and shall be deemed sufficiently given if either hand delivered or if sent by fax or overnight courier, or by postage paid first class mail.  Notices sent by mail shall be deemed received three business days after mailing but in no event later than the date of actual receipt.  Notices shall be directed, if to the Participant, at the Participant’s address indicated by the Company’s records, or if to the Company, at the Company’s principal executive office.

20.Fractional Shares.  In lieu of issuing a fraction of a share, resulting from an adjustment of the Performance Based Restricted Stock Award pursuant to paragraph 5.2(f) of the Plan or otherwise, the 

Company will be entitled to pay to the Participant an amount equal to the fair market value of such fractional share.

21.Competitive Activity.

(a)The Committee may cancel, rescind, suspend, withhold or otherwise limit or restrict the Performance Based Restricted Stock Award at any time if the Participant engages in any "Competitive Activity".

(b)Immediately prior to the vesting of the shares of Stock pursuant to this Agreement, the Participant shall certify, to the extent required by the Committee, in a manner acceptable to the Committee, that the Participant is not engaging and has not engaged in any Competitive Activity.  In the event a Participant has engaged in any Competitive Activity during the Restrictive Covenant Period, then the Participant shall be required to transfer the Forfeiture Shares to the Company and, if applicable, pay the Forfeiture Payment to the Company, in such manner and on such terms and conditions as may be required by the Committee, and the Company shall be entitled to set-off such amounts against any amount owed to the Participant by the Company and/or Subsidiary.

22.Amendment.  These Performance Based Restricted Stock Award Terms may be amended in accordance with the provisions of the Plan, and may otherwise be amended by written agreement of the Participant and the Company without the consent of any other person.

IN WITNESS WHEREOF, the Company has caused these presents to be executed in its name and on its behalf, all as of the Grant Date.

CHUBB LIMITED

By:    
Its:    

I hereby agree to all the terms, restrictions and conditions set forth in the Agreement:

                        
Participant

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