Document:

Exhibit 10.2

Restricted Stock Award Terms

under the

ACE Limited 2004 Long-Term Incentive Plan

            The Participant has been granted a Restricted Stock Award by ACE Limited (the "Company") under the ACE Limited 2004 Long-Term Incentive Plan (the
"Plan").  The Restricted Stock Award shall be subject to the following Restricted Stock Award Terms:

            1.         Terms of Award.  The following words and phrases used in these Restricted Stock Award Terms
shall have the meanings set forth in this paragraph 1:

(a)        The "Participant” is the individual recipient of the Restricted Stock Award on the specified Grant Date.

(b)        The "Grant Date" is [Insert Date].

(c)        The number of "Covered Shares" shall be that number of shares of Stock awarded to the Participant on the Grant Date as reflected in the corporate records and shown in the
Record-Keeping System in the Participant’s individual account records.

Other words and phrases used in these Restricted Stock Award Terms are defined pursuant to paragraph 9 or elsewhere in these Restricted Stock Award Terms.

            2.         Restricted Period.  Subject to the limitations of These Restricted Stock Award Terms, the
"Restricted Period" for each Installment of Covered Shares of the Restricted Stock Award shall begin on the Grant Date and end as described in the following schedule (but only if the Date of Termination has not occurred before end of the Restricted
Period):

	
                       INSTALLMENT                       

	
                          RESTRICTED                          

                           PERIOD
WILL                          

                               END
ON:                          

	
                      1⁄4 of Covered
Shares                     

	
         One year anniversary of the Grant Date        

	
                      1⁄4 of Covered
Shares                      

	
         Two year anniversary of the Grant Date        

	
                      1⁄4 of Covered
Shares                      

	
        Three year anniversary of the Grant Date       

	
                      1⁄4 of Covered
Shares                      

	
         Four year anniversary of the Grant Date        

Notwithstanding the foregoing provisions of this paragraph 2, if the Change in Control occurs both (i) on or before the Date of Termination and (ii) when the Restricted Period for one or more Installments of Covered Shares has
not previously occurred, the Restricted Period for such Installments shall end upon a Change in Control.

	

            3.         Transfer and Forfeiture of Shares.  Except as otherwise determined by the Committee in its sole
discretion, the Participant shall forfeit the Installments of the Covered Shares as of the Participant's Date of Termination, if such Date of Termination occurs prior to the end of the Restricted Period which applies to those Installments.  If the Participant's
Date of Termination has not occurred prior to the last day of the Restricted Period with respect to any Installment of the Covered Shares, then, at the end of such Restricted Period, that Installment of Covered Shares shall be transferred to the Participant free of
all restrictions.

            4.         Withholding.  All deliveries and distributions under These 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).

            5.         Transferability.  Except as otherwise provided by the Committee, the Restricted Stock Award may
not be sold, assigned, transferred, pledge or otherwise encumbered during the Restricted Period.

            6.         Dividends.  The Participant shall not be prevented from receiving dividends and distributions
paid on the Covered Shares of Restricted Stock merely because those shares are subject to the restrictions imposed by these Restricted Stock Award Terms and the Plan; 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 Shares occurring on or after the date, if any, on which the Participant has forfeited those shares.

            7.         Voting.  The Participant shall not be prevented from voting the Restricted Stock Award merely
because those shares are subject to the restrictions imposed by these Restricted Stock Award Terms and the Plan; provided, however, that the Participant shall not be entitled to vote Covered Shares with respect to record dates for any Covered Shares occurring on or
after the date, if any, on which the Participant has forfeited those shares.

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

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

(a)        Change in Control.  The term "Change in Control" shall be defined as set forth in the Plan.

	

(b)        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
Related Companies 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 Related Company or between two Related Companies; 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 Related Company, nor by reason of a Participant's termination of employment with the Company or a Related Company 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 Related Company approved by the Participant's
employer.

(c)        Director.  The term "Director" means a member of the Board, who may or may not be an employee of the Company or a Related Company.

(d)        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 Restricted
Stock Terms.

            10.       Heirs and Successors.  These 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
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 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 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.

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

	

            12.       Plan and Corporate Records Govern.  Notwithstanding anything in these Restricted Stock Award Terms to the
contrary, these 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 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 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.

            13.       Not An Employment Contract.  The 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 Related Company, nor will it interfere in any way with any right the Company or any Related Company would otherwise have to terminate or modify the terms of such Participant's employment or
other service at any time.

            14.       Notices.  Any written notices provided for in these 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.

            15.       Fractional Shares.  In lieu of issuing a fraction of a share, resulting from an adjustment of the
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.

            16.       Amendment.  These 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.

 

            ACE LIMITED

 

By:       ______________________________________________________

Its:        ______________________________________________________Exhibit 10.3

Restricted Stock Unit Award Terms

under the

ACE Limited 2004 Long-Term Incentive Plan

            The Participant has been granted a Restricted Stock Unit Award by ACE Limited (the "Company") under the ACE Limited 2004 Long-Term Incentive Plan (the
"Plan").  The Restricted Stock Unit Award shall be subject to the following Restricted Stock Unit Award Terms:

            1.         Terms of Award.  Subject to the following Restricted Stock Unit Award Terms, the Participant has
been granted the right to receive shares of Stock of the Company (“Units”) as of the Delivery Date.  Each “Unit” represents the right to receive one share of Stock.  The following words and phrases used in these Restricted Stock Unit
Award Terms shall have the meanings set forth in this paragraph 1:

            (a)        The "Participant" is the individual recipient of the Unit Award on the specified Grant Date.

            (b)        The "Grant Date" is [Insert the
date].

            (c)        The number of "Units" shall be that number of Units awarded to the Participant on the Grant Date as reflected in
the corporate records and shown in the Record-Keeping System in the Participant’s individual account records.

            (d)        The “Delivery Date” shall be end of the Restricted Period, with respect to the applicable
Units.

            (e)        Other words and phrases used in these Restricted Stock Unit Award Terms are defined pursuant to paragraph
9 or elsewhere in these Restricted Stock Unit Award Terms.

            2.         Restricted Period.  Subject to the limitations of these Restricted Stock Unit Award Terms, the
"Restricted Period" for each Installment of Units shall begin on the Grant Date and end as described in the following schedule (but only if the Date of Termination has not occurred before end of the Restricted Period):

	
                         INSTALLMENT                     

	
                     RESTRICTED                             

                     PERIOD
WILL                             

                        END
ON:                                   

	
                1⁄4 of Restricted Stock Units              

	
      One year anniversary of the Grant Date     

	
                1⁄4 of Restricted Stock Units              

	
      Two year anniversary of the Grant Date     

	
                1⁄4 of Restricted Stock Units              

	
     Three year anniversary of the Grant Date    

	
                1⁄4 of Restricted Stock Units              

	
     Four year anniversary of the Grant Date     

 

	

Notwithstanding the foregoing provisions of this paragraph 2, if a Change in Control occurs both (i) on or before the Date of Termination and (ii) when the end of the Restricted Period for one or more Installments of Units has
not previously occurred, the Restricted Period for such Installments shall end upon such Change in Control.

            3.         Transfer and Forfeiture of Shares.  Except as otherwise determined by the Committee in its sole
discretion, the Participant shall forfeit the Units as of the Participant's Date of Termination, if such Date of Termination occurs prior to the end of the Restricted Period which applies to those Installments.  If the Participant's Date of Termination has not
occurred prior to the last day of the Restricted Period with respect to any Installment of the Units, then, as soon as administratively practicable following the end of such Restricted Period, that Installment of Units shall be delivered to the Participant in the
form of Stock free of all restrictions.

            4.         Withholding.  All deliveries and distributions under these Restricted Stock Unit 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.

            5.         Transferability.  Except as otherwise provided by the Committee, the Restricted Stock Unit Award
may not be sold, assigned, transferred, pledge or otherwise encumbered during the Restricted Period.

            6.         Dividends.  The Participant shall be permitted to receive cash payments equal to the dividends
and distributions paid on shares of Stock to the same extent as if each Unit was a Share of Stock, and those shares were not subject to the restrictions imposed by this Agreement and the Plan; 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 occurring on or after the date, if any, on which the Participant has forfeited the Units.

            7.         Voting.  The Participant shall not be a shareholder of record with respect to the Units and
shall have no voting rights with respect to the Units during the Restricted Period.

            8.         Participant’s Rights to Shares.  Prior to the delivery of shares of Stock which are to be
delivered pursuant to this Agreement,(a) the Participant shall not be treated as owner of the shares, shall not have any rights as a shareholder as to those shares, and shall have only a contractual right to receive them, unsecured by any assets of the Company or its
subsidiaries; and (b) the Participant’s right to receive such shares will be subject to the adjustment provisions relating to mergers, reorganizations, and similar events set forth in the Plan.

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

            (a)        Change in Control.  The term "Change in Control" shall be defined as set forth in the
Plan.

	

            (b)        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 Related Companies 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 Related Company or between two Related Companies; 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 Related Company, nor by reason of a Participant's termination of employment with the Company or a Related
Company 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 Related Company approved by the Participant's employer.

            (c)        Director.  The term "Director" means a member of the Board, who may or may not be an employee of the
Company or a Related Company.

            (d)        Record-Keeping System.  The term “Record-Keeping System” means the record-keeping
system developed and maintained by third parties contracted by the Company to keep records and facilitate Participant interfaces with respect to the Plan and awards granted thereunder.

            10.       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 Restricted Stock Unit Award Terms.

            11.       Heirs and Successors.  The Restricted Stock Award 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 Restricted Stock Unit Award 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 Restricted Stock Unit Award 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 Restricted Stock Unit Award Terms, then any
benefits distributable to the Designated Beneficiary shall be distributed to the legal representative of the estate of the Designated Beneficiary.

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

	

            13.       Plan and Corporate Records Govern.  Notwithstanding anything in these Restricted Stock Unit Award Terms to
the contrary, these Restricted Stock Unit 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 Restricted Stock Unit 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 Restricted Stock Unit 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.

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

            15.       Notices.  Any written notices provided for in these Restricted Stock Unit 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.

            16.       Fractional Shares.  In lieu of issuing a fraction of a share, resulting from an adjustment of the
Restricted Stock Unit 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.

            17.       Amendment.  The Restricted Stock Unit 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.

 

                                                                       
ACE LIMITED

                                                                       
By: _________________________________

                                                                       
Its:  _________________________________

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