Document:

EXHIBIT 4.2

Note: Set forth below is an English summary of excerpts from the Minutes of a
Combined Meeting of Shareholders (Assemblee Generale Mixte) of Technip held on
April 28, 2006. This English version is only a summary, and not a literal
translation, of the French language minutes of such Meeting and has been
prepared to comply with the requirements of the Securities and Exchange
Commission. The English version does not create or evidence any obligations of
the registrant, nor does it create rights in any person. In the event of any
inconsistency between this English language version and the French original, the
latter will control.

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                               ELEVENTH RESOLUTION
                               -------------------

Authorization to be granted to the Board of Directors to increase the share
capital by issues of securities for which the subscription is reserved to
members of a Group Savings Plan (Plan d'Epargne d'Entreprise)

     The General Meeting, voting under the conditions of quorum and majority
     required for extraordinary meetings, having heard:
          > the Board of Directors' report;

          > and the Statutory Auditors' Special Report;

     and within the context of the provisions of Article L. 443-5 of the French
     Labor Code and Article L. 225-138-1 of the French Commercial Code and
     pursuant to the provisions of Article L. 225-129-6 of the French Commercial
     Code,
     Authorizes the Board of Directors to increase, on one or several
     occasions and in its sole discretion, the share capital up to a maximum par
     value representing 3% of the share capital of the Company on the day the
     authorization is implemented, by issuing shares or securities giving access
     to the share capital of the Company reserved for members of a Group Savings
     Plan (Plan d'Epargne d'Entreprise) of the Company and French or foreign
     companies affiliated with it according to provisions of Article L. 225-180
     of the French Commercial Code and Article L. 444-3 of the French Labor
     Code.
     Decides to waive in favor of the members of the Group Savings Plan
     (Plan d'Epargne d'Entreprise), as defined in the preceding paragraph, the
     shareholders' preferential subscription right to subscribe for shares or
     other securities giving access the share capital to be issued pursuant to
     this resolution;
     Resolves, pursuant to the provisions of Article L. 443-5 of the French
     Labor Code, to set the discount at 20% of the average of the opening price
     of the Company's shares on Eurolist by Euronext(TM) during the twenty
     trading sessions preceding the day of the decision setting the opening date
     of subscriptions, and at 30% of the same average when the duration of the
     lock-up period stipulated by the plan pursuant to Article L. 443-6 of the
     French Labor Code is greater than or equal to ten years. However, the
     General Meeting specifically authorizes the Board of Directors to reduce
     the aforementioned discount, if it deems appropriate, to take into account
     any applicable legal, accounting, tax-related and employment regimes in
     local jurisdictions. The Board of Directors may also substitute all or part
     of the discount with a free allocation of shares or other securities

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     giving access to the Company's share capital, existing or to be issued. The
     total benefit resulting from such allocation and any discount mentioned
     above may not exceed the benefit that members of the Group Savings Plan
     would have received if that variance had been 20% or 30% when the lock-up
     period stipulated by the plan pursuant to Article L. 443-6 of the French
     Labor Code is greater than or equal to ten years.
     Resolves pursuant to Article L. 443-5 of the French Labor Code that the
     Board of Directors may also provide for the allocation, free of charge, of
     shares or other securities giving access the Company's share capital as
     employer's matching contribution, provided that posting them at their
     equivalent pecuniary value, appraised at the subscription price, will not
     have the effect of exceeding the limits provided in Article L. 443-7 of the
     French Labor Code.
     The General Meeting also resolves that the characteristics of the other
     securities that give access to the share capital of the Company will be
     determined by the Board of Directors in accordance with the conditions set
     by law.
     The Board of Directors shall be vested with all powers, with the right to
     delegate or subdelegate according to legal provisions, required to
     implement this authorization, and, in particular, to set the terms and
     conditions of the issues that will be made by virtue of this authorization
     and to postpone it, to set the amount offered for subscription and the
     opening and closing dates of the subscriptions, the price, the
     dividend-entitlement dates of the shares issued, the methods and time
     limits for paying for the securities and, if applicable, to request their
     admission to listing wherever appropriate, to report the completion of
     share capital increases in the amount of the shares that will actually be
     subscribed, to accomplish, directly or by agent, any transactions and
     formalities connected with increases in the share capital, to make the
     necessary amendments to the bylaws and, in its sole discretion and, if it
     deems appropriate, to charge the costs of the capital increases against the
     amount of premiums pertaining to those issues and to withdraw from that
     amount the sums necessary to bring the statutory reserve to one tenth of
     the new share capital after each capital increase and to make all
     appropriate disclosures and take any required measures.
     This authorization shall invalidate any previous authorization that has the
     same purpose. It shall be valid for a period of twenty-six months following
     the date of this General Meeting. Furthermore, the General Meeting
     ascertains, to the extent necessary, that this authorization shall have the
     effect of meeting the requirements of Articles L. 225-129-6 of the French
     Commercial Code, with respect to the duty of consultation further to a
     share capital increase.<PAGE>

                                                                    EXHIBIT 10.1

                                 AMENDMENT NO. 5

                                       TO

                          UNDERWRITING AGENCY AGREEMENT
                       DATED DECEMBER 1, 2001, AS AMENDED

     This AMENDMENT NO. 5 TO UNDERWRITING AGENCY AGREEMENT (this "Amendment") is
made and entered into as of December 1, 2006, by and between Allied World
Assurance Company, Ltd (the "Company") and IPCRe Underwriting Services Limited
(the "Underwriting Agent").

                                   WITNESSETH:

     WHEREAS, the Company and the Underwriting Agent (each of the Company and
the Underwriting Agent a "Party" and together the "Parties") have entered into
an Underwriting Agency Agreement, dated as of December 1, 2001, as amended from
time to time (the "Agreement"); and

     WHEREAS, the Company and the Underwriting Agent desire to further amend the
Agreement in accordance with the terms and conditions contained herein;

     NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Company and the Underwriting
Agent agree as follows:

     1. It is hereby agreed that Section 13.1 of the Agreement be deleted in its
entirety and the following be inserted in lieu thereof:

          "13.1 This Agreement shall terminate as of November 30, 2006 (the
               "Termination Date"), and the Company shall pay to the
               Underwriting Agent an early termination fee of $400,000, which
               shall be payable in three installments as follows:

               $250,000 payable on December 1, 2006;

               $75,000 payable on December 1, 2007; and

               $75,000 payable on December 1, 2008.

          Such fee so payable under this Section 13.1 is in addition to any
          Agency Commission due to the Underwriting Agent in accordance with
          Section 10 of the Agreement."

     2. It is hereby agreed that new Sections 13.4 and 13.5 shall be inserted as
follows:

          "13.4 Notwithstanding Section 13.1 or any other provision contained in
               the Agreement, the Parties agree that, with effect from the
               Termination Date, the Underwriting Agent shall cease to perform
               any underwriting services on behalf of the Company save that in
               respect of Subject Business entered into prior to and existing as
               of the Termination Date, the Underwriting Agent shall continue to
               provide the services set out in Schedule A attached to this
               Amendment on behalf of the Company for a period of three years
               commencing on the Termination Date and ending on the third
               anniversary of the Termination Date (the "Extension Period").

          13.5 The Parties may by written agreement further extend the Extension
               Period for such period and on such terms as they may mutually
               agree."

     3. It is hereby agreed that the third sentence of Section 8.3 of the
Agreement which reads "All Books and Records shall be delivered to the Companies
upon termination of this Agreement." shall be deleted and the following be
substituted therefor:

          "All such Books and Records shall be delivered to the Company upon
          expiration of the Extension Period or at such later date as may be
          mutually agreed by the Parties in writing."

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<PAGE>

     4. Capitalized terms used herein but not otherwise defined shall have the
meanings as respectively set forth in the Agreement.

     5. Except to the extent amended hereby, the Agreement, as previously
amended, shall remain unmodified and in full force and effect in accordance with
its terms.

     6. This Amendment may be executed in any number of counterparts which
together shall constitute one and the same instrument.

For and on behalf of                    For and on behalf of
IPCRE UNDERWRITING SERVICES LIMITED     ALLIED WORLD ASSURANCE COMPANY, LTD

By: /s/ James P. Bryce                  By: /s/ S. Carmilani
    ---------------------------------       ------------------------------------
    James P. Bryce                          Scott Carmilani
    President & Chief Executive             President & Chief Executive Officer
    Officer

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<PAGE>

SCHEDULE A

SERVICES TO BE PERFORMED BY THE UNDERWRITING AGENT IN RESPECT OF SUBJECT
BUSINESS ENTERED INTO AND EXISTING AS AT THE TERMINATION DATE. REFERENCES TO
SECTIONS BELOW ARE TO THE RESPECTIVE SECTIONS OF THE AGREEMENT.

1.   Section 4

2.   Section 6.2 (only to the extent, if appropriate, to terminate or cancel
     policies and issue notices of cancellation)

3.   Section 6.3

4.   Section 6.5

5.   Section 7.1

6.   Section 7.2

7.   Section 7.3

8.   Section 7.4

9.   Section 7.5

10.  Section 7.6

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