Document:

exv10w1

EXHIBIT 10.1

AMENDED AND RESTATED

STOCK APPRECIATION RIGHTS AGREEMENT

     THIS AMENDED AND RESTATED STOCK APPRECIATION RIGHT AGREEMENT UNDER THE NASH-FINCH COMPANY 2000
STOCK INCENTIVE PLAN is entered into and effective as of December 17, 2008 (the “Date of
Grant”), by and between Nash-Finch Company (the “Company”) and [ ] (the
“Executive”).

     This Stock Appreciation Right Agreement (the “Agreement”) sets forth the terms and
conditions of an award of [ ] stock appreciation rights (each a “Stock Appreciation
Right” or “SAR”)) that are subject to the terms and conditions specified herein and that are
granted to the Executive under the Nash-Finch Company 2000 Stock Incentive Plan (the
“Plan”). Each capitalized term used but not defined in this Agreement shall have the
meaning assigned to that term in the Plan.

     The parties hereto agree as follows:

     1. Grant of Stock Appreciation Right. Subject to the terms and conditions of this
Agreement and the Plan, the Company hereby grants the Executive a Stock Appreciation Right (the
“Award”) relating to an aggregate of [ ] shares of common stock, par value $1.66-2/3 par
value, per share, of Nash-Finch Company (“Common Stock”) with a per share price of $38.44
(the “Base Price”), which is the Fair Market Value of the Common Stock on the Date of
Grant.

     2. Vesting. Subject to Section 4, the SAR is eligible to become vested during the
period commencing on the closing of the transaction contemplated by that certain Asset Purchase
Agreement by and among Nash-Finch Company, GSC Enterprises, Inc., MKM Management, L.L.C., Michael
K. McKenzie and Grocery Supply Acquisition Corp. dated December 17, 2008 (the “Closing
Date”) and ending on the 36 month anniversary of the Closing Date (the “Vesting
Period”). The SAR will vest (and become exercisable pursuant to Section 3) on the first
business day (the “Vesting Date”) which falls within the Vesting Period and follows either:

     (a) the date on which the Fair Market Value for a share of Common Stock on NASDAQ (or
if not there principally traded, the principal market on which such shares are traded) for
each of the 90 previous trading days has been at least $55.00, or

     (b) (i) a Change in Control which occurs on or following the six month anniversary of
the Date of Grant or (ii) the termination of the Executive’s employment with the Company and
all Subsidiaries by reason of death or Disability,

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so long as the Executive remains continuously employed (or has previously died or become disabled
as described in Section 2(b)(ii)) by the Company from the Closing Date to the Vesting Date. If the
SAR has not become vested by the last day of the Vesting Period, it shall thereupon be forfeited.

     3. Exercise of Award.

          a. Subject to Section 8, only the Executive may exercise the SAR or any portion thereof. The
SAR may be exercised in whole or in part at any time during the period (i) commencing on the later
of (x) the Vesting Date and (y) the six month anniversary of the Date of Grant and (ii) ending at
the time when the SAR becomes unexercisable under Section 4.

          b. The Executive may exercise the SAR by delivery in person, by facsimile or electronic
transmission or through the mail of written notice of exercise to the Company (Attention:
Secretary) at its principal executive office in Minneapolis, Minnesota specifying the number of
shares of Common Stock with respect to which the SAR is being exercised.

     4. Expiration of the Award. The SAR may not be exercised to any extent by anyone
after the first to occur of the following:

          a. December 31, 2009 if the Closing Date has not occurred by such date;

          b. the date that is 24 months after the Vesting Date;

          c. the tenth anniversary of the Date of Grant; or

          d. the termination of Executive’s employment with the Company and all Subsidiaries, or, if
such termination is by reason of death or Disability, the third anniversary of such termination of
employment.

     5. Form of Payment. Upon exercise (the “Date of Exercise”) of the SAR, or any
portion thereof, the Company shall award the Executive a number of shares of restricted stock (the
“Restricted Stock”) equal to (a) the product of (i) the number of shares with respect to
which the SAR is exercised and (ii) the excess, if any, of (x) the Fair Market Value per share of
Common Stock upon the date of such exercise over (y) the Base Price per share relating to such SAR,
divided by (b) the Fair Market Value of a share of Common Stock on the date such SAR is exercised.
The Restricted Stock shall vest on the first anniversary of the Date of Exercise (the
“Anniversary Date”) so long as the Executive has remained continuously employed with the
Company or one of its Subsidiaries from the Date of Exercise to such date, or Executive’s earlier
death or Disability.. The grant of any Restricted Stock shall otherwise be subject to the terms
and conditions of an applicable Restricted Stock Agreement and the Plan.

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     6. Termination of Employment. If the Executive’s employment with the Company is
terminated prior to the Anniversary Date for any reason other than death or Disability the
Restricted Stock that has not vested will thereupon be terminated and forfeited

     7. Adjustments to Awards. If any reorganization, merger, consolidation,
recapitalization, liquidation, reclassification, stock split, combination of shares, rights
offering or divestiture (including a spin-off) or any other similar change in the corporate
structure or shares of the Company occurs, the Board, in order to prevent dilution or enlargement
of the Executive’s rights, will make appropriate adjustment (which determination will be
conclusive) in the number and kind of Common Stock or other securities or other property (including
cash) subject to the SAR or, if applicable, the Restricted Stock; provided, however, that any such
securities or other property distributable with respect to the SAR shall be, unless otherwise
determined by the Board, distributed to the Executive in the manner described in Section 5 and
shall, together with the SAR, otherwise be subject to the terms and conditions of this Agreement.

     8. Beneficiary Designation.

     The Executive shall have the right, at any time, to designate any person or persons as
beneficiary or beneficiaries to receive the SAR and/or the Restricted Stock upon the Executive’s
death. After the death of the Executive, any exercisable portion of the SAR may, prior to the time
when the SAR becomes unexercisable under Section 4, be exercised by his personal representative or
by any person empowered to do so under the deceased Executive’s will or under the then applicable
laws of descent and distribution. The Executive shall have the right to change the Executive’s
beneficiary designation at any time. Each beneficiary designation shall become effective only when
filed in writing with the Company during the Executive’s life on a form prescribed by or approved
by the Company. If the Executive fails to designate a beneficiary as provided above, or if all
designated beneficiaries die before the Executive, then the beneficiary shall be the Executive’s
estate.

     9. Miscellaneous.

          a. No Rights as Stockholder. The Executive shall not be, nor have any of the rights or
privileges of, a stockholder of the Company in respect of any shares relating to the SAR.

          b. Employment with the Company. Any references in this Agreement to employment with or by the
Company shall be deemed to include employment with the Company or any parent or subsidiary
corporation thereof.

          c. Code Section 409A. This grant is intended to comply with the provisions of Section 409A of
the Code and Department of Treasury regulations and other interpretive guidance issued thereunder
(“Section 409A”). Notwithstanding anything to the contrary in this Agreement, if any
distribution to the Executive hereunder is subject to the requirements of

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Section 409A(a)(2)(B)(i) of the Code, then such distribution will be suspended and not made
until after the six-month anniversary of the applicable termination date (or, if earlier, upon the
date of the Executive’s death). Any distribution that was otherwise distributable during the
six-month suspension period referred to in the preceding sentence will be made as soon as
administratively practicable following the six-month anniversary of the applicable termination
date. The parties agree that other appropriate modifications shall be made to the Agreement as
necessary for any deferred compensation provided under the Agreement to satisfy the requirements of
Sections 409A(a)(2), (3) and (4) of the Code (including current and future guidance issued by the
Department of Treasury and/or Internal Revenue Service). To the extent that any provision of this
Agreement fails to satisfy those requirements, the provision shall be applied in operation in a
manner that, in the good-faith opinion of the Company, brings the provision into compliance with
those requirements while preserving as closely as possible the original intent of the provision and
the value of the Agreement to the Executive. The Company (including any successor) shall propose
subsequent amendments to this Agreement to the Executive if and as necessary to conform the terms
of the Agreement to any such operational modifications.

          d. Relationship to Plan and Other Agreements. The SAR subject to this Agreement has been
granted under, and is subject to the terms of, the Plan and the related Restricted Stock that may
be granted will be subject to the terms of the Plan and an applicable award agreement. The
provisions of this Agreement will be interpreted so as to be consistent with the terms of the Plan,
and any ambiguities in this Agreement will be interpreted by reference to the Plan. If any
provision of this Agreement is in conflict with the terms of the Plan, the terms of the Plan will
prevail. To the extent any provision of any other agreement between the Company and the Executive
limits, qualifies or is inconsistent with any provision of this Agreement, then for purposes of
this Agreement, the provision of this Agreement will control and such provision of such other
agreement will be deemed to have been superseded, as if such other agreement had been amended to
the extent necessary to accomplish such purpose.

          e. Binding Effect. This Agreement will be binding upon the heirs, executors, administrators
and successors of the parties hereto.

          f. Governing Law. This Agreement and all rights and obligations hereunder shall be construed
in accordance with the Plan and governed by the laws of the State of Minnesota, without regard to
conflicts of laws provisions. Any legal proceeding related to this Award or Agreement will be
brought in an appropriate Minnesota court, and the parties hereto consent to the exclusive
jurisdiction of the court for this purpose.

          g. Amendment and Waiver. Other than as provided in the Plan, this Agreement may be amended,
waived, modified or canceled only by a written instrument executed by the parties hereto or, in the
case of a waiver, by the party waiving compliance.

[Signature page follows]

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     The parties hereto have executed this Agreement effective the day and year first written
above.

	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	NASH-FINCH COMPANY	 	EXECUTIVE:	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	 	 	By:	 	 	 	 
	 

	 	 
	 	 	 	 	 	 
	 

	 	Alec C. Covington
	 	 	 	[ ]	 	 
	 

	 	President and Chief Executive Officer	 	 	 	 	 	 

7EX-10.1

Exhibit 10.1

Date 29 April 2009

Aspen Insurance Limited

Maxwell Roberts Building

1 Church Street

Hamilton

HM 11

Bermuda

Attention: Bryan Astwood

Dear Bryan

	1	 	Committed letter of credit facility
	 
	 	 	Further to recent discussions, Citibank Europe plc (the “Bank”) is pleased to confirm its
committed letter of credit issuance facility (the “Facility”) subject to the terms and
conditions set out in this Letter.
	 
	 	 	The Facility is intended to replace the committed letter of credit facility established
pursuant to a facility letter between Aspen Insurance Limited and Citibank Ireland Financial
Services plc (the previous name of Citibank Europe plc) dated 11 October 2006 (as amended,
varied, supplemented, novated or assigned as the case may be) (“the Old Facility”). The Old
Facility is hereby terminated with immediate effect and the parties fully released from all
rights, obligations and liabilities arising therefrom.
	 
	2	 	Amount
	 
	 	 	The Facility shall be in a maximum aggregate amount of USD 550,000,000 (Five Hundred and
Fifty Million United States Dollars) (the “Facility Limit”). Should the Company (as defined
below) wish to reduce the Facility Limit, it may do so upon written notification to the
Bank. The notification must (i) specifically reference this Facility
Letter and (ii) clearly state the new facility limit that is to apply (“the New Limit”)
(“the Notification”). The New Limit will take effect five Business Days following receipt,
by the Bank, of the Notification.

	3	 	Facility Documents
	 
	 	 	Aspen Insurance Limited (“the Company”) has entered into the following documents in relation to the
Facility (each as amended, varied, supplemented, novated or assigned as the case may be):

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	 	(a)	 	Insurance Letters of Credit — Master Agreement (Form 3/CIFS) dated 15 December
2003 (the “Master Agreement”);
	 
	 	(b)	 	Reinsurance Deposit Agreement (Charge Form – Citibank N.A. as Custodian) dated
15 December 2003 (“Form 12”);
	 
	 	(c)	 	Pledge Agreement dated 17 January 2006 (“the Pledge Agreement”);
	 
	 	(d)	 	Collateral Account Control Agreement dated 17 January 2006 (“the Collateral
Account Control Agreement”);
	 
	 	(e)	 	Corporate Mandate dated 29 April 2009; and
	 
	 	(f)	 	General Communications Indemnity dated 29 April 2009.

	 	 	In the event of any inconsistency between the terms of this letter and the terms of any Facility
Document, the terms of this letter shall prevail.

	 
	4	 	Conditions precedent
	 
	 	 	The Company shall not request the issue of any Credit until the Bank has received the documents and
other evidence specified below in a form and substance satisfactory to the Bank (each a “Condition
Precedent”):

	 	(a)	 	the enclosed duplicate of this Letter, duly executed on behalf of the Company
before 15 May 2009; and
	 
	 	(b)	 	such other documents and other evidence as the Bank may reasonably require.

	5	 	Utilisation requests
	 
	5.1	 	Whenever the Company wishes the Bank to issue a Credit under the Facility, it shall provide a
duly completed application form in accordance with the provisions of the Master Agreement.
	 
	5.2	 	The Bank shall be entitled to examine each request to issue a Credit on a case-by-case basis
and, notwithstanding clause 1(a)(i) of the Master Agreement during the continuance of this
Letter, shall only be entitled to decline any such request without liability where:

	 	(a)	 	such request would cause the Bank to be in breach of any law of any
jurisdiction (including non-exclusively any breach of sanctions imposed by the law of
the United States of America); or
	 
	 	(b)	 	the Credit requested is in a currency other than US dollars, GB pounds
sterling, Canadian dollars or Euros;
	 
	 	(c)	 	the tenor of the Credit is longer than 60 months; and/or
	 
	 	(d)	 	any deposit(s) as may have been requested by the Bank to be placed in the
accounts established pursuant to the terms of the Form 12 and/or Pledge and Collateral
Account Control Agreements have not been carried out to the Bank’s satisfaction.

	6	 	Interest
	 
	6.1	 	the Company shall pay interest on the amount drawn by a Beneficiary under a Credit at a rate
per annum of LIBOR plus 3% (plus Reserve Asset Costs, if any) from the date of drawing until
the date of reimbursement by the Company.

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	6.2	 	Any interest accruing under this paragraph 6 shall be immediately payable by the Company on
demand by the Bank. Overdue interest shall be compounded in accordance with the usual
practice of the Bank in respect of unauthorised overdrafts.
	 
	6.3	 	Interest due from the Company under this Letter shall:

	 	(a)	 	be calculated and accrue from day to day;
	 
	 	(b)	 	be calculated on the basis of the actual number of days elapsed and a 360 day
year (or such other day count convention as is market practice for the relevant
currency); and
	 
	 	(c)	 	be payable both before and after judgment.

	7	 	Fees
	 
	7.1	 	The Company shall pay to the Bank in arrears on each Quarter Day a letter of credit fee in an
amount equal to 0.50% (on an annualised basis) of the Facility Amount less the principal
amount of undrawn credit on that Quarter Day. The fee payable on 1 July 2009 shall be
pro-rated for the number of days beginning on the date of this Letter.
	 
	7.2	 	The Company shall pay to the Bank in arrears on each Quarter Day a commitment fee in an
amount equal to 0.25% (on an annualised basis) of the principal amount of undrawn
credit on that Quarter Day. The fee payable on 1 July 2009 shall be pro-rated for the number of
days beginning on the date of this Letter.
	 
	7.3	 	If at any time during the term of the Facility, more than 50% of the Facility Limit remains
undrawn, the Company shall, in addition to 7.1 above, but in replacement of the obligation in
Clause 7.2 above, pay to the Bank in arrears on each Quarter Day (pro rata if applicable) a
low utilisation fee in an amount equal to 0.50% (on an annualised basis) of the Facility Limit
less the principal amount of drawn credit. The fee payable on1 July 2009 shall be pro-rated
for the number of days beginning on the date of this Letter.

	8	 	Repayment and expiry
	 
	 	 	The Facility shall only apply in respect of Credits issued on or prior to 28 April 2012
(“the Facility Period”). The Facility shall expire on the earlier of (1) the date that is
one year from the end of the Facility Period; or (2) the stated expiry date on the last
remaining Credit issued within the Facility Period (“the Expiry Date”). The Bank and the
Company shall commence negotiations, without being under any obligation, on the renewal of
the Facility at least 60 days before the end of the Facility Period.
	 
	9	 	Representations and warranties
	 
	 	 	The Company represents and warrants to the Bank, on the date of its acceptance of this
Letter and with reference to (f)(ii) below only on each day (by reference to the facts and
circumstances then existing) until this Letter has expired or terminated, that:

	 	(a)	 	the Company (i) is duly organised, validly existing and (to the extent
applicable) in good standing under the laws of its jurisdiction of incorporation or
organisation, (ii) is duly qualified to do business and (to the extent applicable) in
good standing in each jurisdiction where, because of the nature of its activities or
properties, such qualification is required, (iii) has the requisite corporate power and
authority and the right to own and operates it properties, to lease the property it
operates under lease, and to conduct its business as now and proposed to be conducted,
and (iv) has obtained all material licenses, permits, consents or approvals from or by,
and has made all filings with, and given all notices to, all governmental authorities
having

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	 	 	 	jurisdictions, to the extent required for such ownership, operation and conduct
(including, without limitation, the consummation of transactions contemplated by this
Letter) as to each of the foregoing, except where the failure to do so would not have a
material adverse effect on the financial condition or prospects of the Group.
	 
	 	(b)	 	The execution, delivery and performance by the Company of this Letter and the
consummation of the transactions contemplated (hereby, are within the Company’s
corporate powers, have been duly authorised by all necessary corporate action, and do
not contravene (i) the Company’s constitutional documents or (ii) law or any
contractual restriction binding on or affecting the Company.
	 
	 	(c)	 	No authorisation or approval or other action by, and no notice to or filing
with, any governmental authority or regulatory body or any third party is required for
the due execution, delivery and performance by the Company of this Letter or in respect
of any Credit, except for those authorisations, approvals, actions, notices and filings
that have been duly obtained, taken, given or made and are in full force and effect.
	 
	 	(d)	 	This Letter has been duly executed and delivered by the Company and constitutes
the legal, valid and binding obligation of the Company enforceable against the Company
in accordance with their respective terms, subject to (i) the effect of any applicable
bankruptcy, insolvency, reorganisation, moratorium or similar law affecting creditors’
rights generally, (ii) the effect of general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or law).
	 
	 	(e)	 	The consolidated financial statements included in the most recent 10Q filing of
the Group, copies of which have been furnished to the Bank, fairly present the
consolidated financial condition of the Group in accordance with generally accepted
accounting principles consistently applied. Since the date of such filing there has
been no material adverse change to the financial condition or property of the Company
or any other member of the Group.
	 
	 	(f)	 	There is no pending or, to the knowledge of the Company, threatened action,
suit, investigation, litigation or proceeding affecting any member of the Group before
any court, governmental agency or arbitrator that (i) could be reasonably likely to
have a material adverse effect on the financial position or prospects of the Group or
(ii) purports to affect the legality, validity or enforceability of this Letter or any
Facility Document or the consummation of the transactions contemplated hereby.

	10	 	Undertakings
	 
	 	 	The Company undertakes to the Bank that it shall:

	 	(a)	 	provide the Bank with each annual 10K filing made by it, as soon as it is
available and in any event within 90 days of its financial year end;
	 
	 	(b)	 	provide the Bank with each 10Q filing made by it, as soon as it is available
and in any event within 45 days of the end of the relevant quarter;
	 
	 	(c)	 	promptly upon it becoming aware of the event, provide the Bank with notice of
any change in the Company’s ownership structure such that its ultimate parent (as at
the date of this Letter) ceases to own, directly or indirectly, a majority of the
equity of the Company or upon any announcement of such a restructuring by the parent.
Any such event shall entitle the Bank, at its sole discretion, to terminate the
Facility.

	11	 	Costs and expenses
	 
	 	 	The Company undertakes to indemnify the Bank, on demand, for and against all actions,
proceedings, losses, damages, charges, costs, expenses, claims and demands which the

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	 	 	Bank may incur, pay or sustain (apart from the Bank’s own gross negligence or wilful misconduct)
in connection with this Letter (including non-exclusively the cost of all registrations and
any other legal fees that the Bank incurs in relation to the Facility).
	 
	12	 	Certificates
	 
	 	 	Any demand, notification or certificate issued by the Bank specifying any amount due under
this Letter or any Facility Document or any determination of any ratio shall, in the absence
of manifest error, be conclusive and binding on the Company.
	 
	13	 	Miscellaneous
	 
	13.1	 	The rights of the Bank under this Letter and the Facility Documents may be exercised as often
as necessary; are cumulative and not exclusive of its rights under the general law; and may be
waived only in writing and specifically. Delay in exercising or non-exercise of any such right
is not a waiver of that right.
	 
	13.2	 	If any provision of this Letter or any Facility Document is or becomes illegal, invalid or
unenforceable in any jurisdiction, that shall not affect (i) the legality, validity or
enforceability in that jurisdiction of any other provision of that document; or (ii) the
legality, validity or enforceability in any other jurisdiction of that or any other provision
of that document.
	 
	13.3	 	In no event shall the Bank be liable on any theory of liability for any special, indirect,
consequential or punitive damages and the Company hereby waives, releases and agrees (for
itself and on behalf of the other members of the Group) not to sue upon any such claim for any
such damages, whether or not accrued and whether or not known or suspected to exist in its or
their favour.
	 
	13.4	 	The Bank may set off any obligation of the Company under the Facility Documents or in respect
of any Credit (whether present or future, actual or contingent) against any obligation owed by
the Bank to the Company or Citibank N.A., regardless of the place of payment, booking branch
or currency of either obligation. If the obligations are in different currencies, the Bank
may convert either obligation at a market rate of exchange in its usual course of business for
the purpose of the set-off.
	 
	13.5	 	Clauses 13 and 14 [Assignment/Novation] of the Master Agreement shall apply in respect of
this Letter, with necessary changes.
	 
	13.6	 	The terms of this Letter may not be waived, modified or amended unless such waiver,
modification or amendment is in writing and signed by you nor may the Company assign any of
its rights hereunder without the prior written consent of the Bank.
	 
	14	 	Definitions and interpretation
	 
	14.1	 	Terms defined in any Facility Document shall have the same meanings when used in this Letter.
Additionally, the following terms have the following meanings.
	 
	 	 	Business Day means a day (other than a Saturday or a Sunday) on which banks
are generally open in Dublin and London.
	 
	 	 	Facility Documents means the documents specified in paragraphs 3(a) through
3(e) and any other document pursuant to which a security interest,
guarantee or other form of credit support is created or exists in favour of
the Bank in respect of the obligations of the Company under this Letter.
	 
	 	 	Group means the Company and each other person from time to time included in
the

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	 	 	consolidated financial statements of the Company filed with the
Securities and Exchange Commission.
	 
	 	 	LIBOR means the overnight rate for US Dollars which appears on the screen
display designated “Reuters Screen LIBOR01” on the Reuters Service (or such
other screen display or service as may replace it for the purpose of
displaying the relevant British Bankers’ Association Interest Settlement
Rates for deposits in US Dollars in the London interbank market) at or
about 11.00 a.m. on the relevant day.
	 
	 	 	Quarter Day means 1 January, 1 April, 1 July and 1 October.
	 
	14.2	 	In this Letter (unless otherwise provided):

	 	(a)	 	words importing the singular shall include the plural and vice versa;
	 
	 	(b)	 	references to:

	 	(i)	 	paragraphs are to be construed as references to the paragraphs
of this Letter;
	 
	 	(ii)	 	any document shall be construed as references to that document,
as amended, varied, novated or supplemented;
	 
	 	(iii)	 	any statute or statutory provision shall include any statute
or statutory provision which amends, extends, consolidates or replaces the
same;
	 
	 	(iv)	 	any document or person being acceptable or approved or
satisfactory shall be construed as meaning acceptable to or approved by or
satisfactory to the Bank in its sole discretion;
	 
	 	(v)	 	a person shall be construed so as to include that person’s
assignors, transferees or successors in title and shall be construed as
including references to an individual, firm, partnership, joint venture,
company, corporation, body corporate, unincorporated body of persons or any
state or any agency of a state; and
	 
	 	(vi)	 	time are to London time.

	14.3	 	The headings in this Letter are for convenience only and shall be ignored in construing this
Letter.

	15	 	Communications
	 
	15.1	 	Any notice or demand to be served on the Company by the Bank hereunder may be served:

	 	(a)	 	Personally on any officers listed in the Company’s General Communications
Indemnity and dated this date as amended from time to time (such shall be referred to
as “Authorized Officer(s)”);
	 
	 	(b)	 	by letter addressed to the Company or to any of its officers at the Company’s
registered office or at any one of its principal places of business; or
	 
	 	(c)	 	by telex or facsimile addressed in any such manner as aforesaid to any then
published telex or facsimile number of the Company.

	15.2	 	Unless otherwise stated, any notice or demand to be served on the Bank by the Company
hereunder must be served on the Bank either at its address stated at the beginning of this
Letter (or such other address as the Bank may notify the Company of from time to time) or by
facsimile to such number as the Bank may notify the Company of from time to time.

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	15.3	 	Any notice or demand:

	 	(a)	 	sent by post shall be deemed to have been served on the relevant party on the
third Business Day after and exclusive of the day of posting; or
	 
	 	(b)	 	sent by telex or facsimile shall be deemed to have been served on the relevant
party when confirmation is received.

In proving such service by post it shall be sufficient to show that the letter containing the
notice or demand was properly addressed and posted and such proof of service shall be effective
notwithstanding that the letter was in fact not delivered or was returned undelivered.

	16	 	Governing law
	 
	16.1	 	This Letter shall be governed by English law and for the benefit of the Bank the Company
irrevocably submits to the jurisdiction of the English Courts in respect of any dispute which
may arise from or in connection with this Letter or any Credit.
	 
	16.2	 	A person who is not a party to this Letter has no rights under the Contracts (Rights of Third
Parties) Act 1999 to enforce any terms of this Letter.
	 
	17	 	Anti-Tying
	 
	17.1	 	Citigroup’s Corporate and Investment Bank’s anti-tying policies are incorporated herein by
reference.

	 	 	 
	Yours faithfully
	 	 
	 
	 	 
	/s/ Siva Savaratnam
 

	 	 
	For and on behalf of Citibank Europe plc
	 	 
	 
	 	 
	Accepted and agreed on
	 	 
	 
	 	 
	/s/  Julian Cusack
 

	 	 
	For and on behalf of Aspen Insurance Limited
	 	 
	 
	 	 
	Accepted and agreed on
	 	 
	 
	 	 
	/s/  David Skinner
 

	 	 
	For and on behalf of Aspen Insurance Limited
	 	 

Page 7

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