Document:

Form of Restricted Stock Award Agreement.

 Exhibit 10.6 
 FORM OF 
 RESTRICTED STOCK AWARD AGREEMENT 

THIS AGREEMENT (the “Agreement”) is made effective as of
                    , 20     (the “Grant Date”), between USF Holding Corp., a Delaware corporation
(hereinafter called the “Company”), and [            ], an employee of the Company or other Service Recipient, hereinafter referred to as the
“Grantee.” Capitalized terms not otherwise defined herein shall have the same meanings as in the Plan or the Management Stockholder’s Agreement (each as defined below). 

WHEREAS, the Company desires to grant the Grantee shares of Common Stock, pursuant to the terms and conditions of this Agreement (the
“Restricted Stock Award”), the 2007 Stock Incentive Plan for Key Employees of USF Holding Corp. and its Affiliates, as amended from time to time (the “Plan”) (the terms of which are hereby incorporated by reference
and made a part of this Agreement), and a Management Stockholder’s Agreement entered into by and between the Company and the Grantee as of [            ] (the
“Management Stockholder’s Agreement”). 
 WHEREAS, the Board has determined that it would be to the
advantage and best interest of the Company and its shareholders to grant the shares of Common Stock provided for herein to the Grantee as an incentive for increased efforts during his employment with the Company, and has advised the Company thereof
and instructed the undersigned officer to grant said Restricted Stock Award; 
 NOW, THEREFORE, in consideration of the mutual
covenants herein contained and other good and valuable consideration, receipt of which is hereby acknowledged, the parties hereto do hereby agree as follows: 
 1. Grant of the Restricted Stock. Subject to the terms and conditions of the Plan, the Management Stockholder’s Agreement (and the agreements incorporated by reference therein), and the
additional terms and conditions set forth in this Agreement, the Company hereby grants to the Grantee [            ] shares of Common Stock (hereinafter called the
“Restricted Stock” or “Award”). The Restricted Stock shall vest and become nonforfeitable in accordance with Section 2 hereof. 
 2. Vesting. 
 (a) Unless otherwise provided in the Management
Stockholder’s Agreement, so long as the Grantee continues to be employed by the Company or its Subsidiaries through the applicable vesting date: (i) the Restricted Stock shall become vested in increments of
[    ]% of such shares on each of [            ]; and (ii) all Restricted Stock shall become vested as to 100% of such shares upon the occurrence of a
Change in Control that occurs prior to [            ]. Any stock that becomes vested pursuant to this Section 2(a) shall hereafter be referred to as “Vested Restricted
Stock.” 
 (b) Notwithstanding the above, if the Grantee’s employment with the Company or any other Service
Recipient is terminated for any reason by the Company or any other Service Recipient, or by the Grantee, any Restricted Stock that has not yet become Vested Restricted Stock at such time shall be forfeited by the Grantee without consideration
therefor, and neither Grantee nor any successors, heirs, assigns, or personal representatives of Grantee shall thereafter have any further rights or interest in the Restricted Stock or under this Agreement, and Grantee’s name shall thereupon be
deleted from the list of the Company’s stockholders with respect to the Restricted Stock. 
 3. Registration of
Restricted Stock. The Company shall register the issuance of the Restricted Stock in the Grantee’s name on the stock transfer books of the Company promptly after the date hereof, with the restrictions imposed on such Restricted Stock under
this Agreement and such other restrictions referenced in the Management Stockholder’s Agreement and Section 5 below (including, without limitation that such Restricted Stock, even after it becomes Vested Restricted Stock, may be subject to
such stop transfer orders and other restrictions as the Board may deem reasonably advisable 

 
under the Plan, the Management Stockholder’s Agreement or the rules, regulations, and other requirements of the Securities and Exchange Commission, any stock exchange upon which such Vested
Restricted Stock is listed, and any applicable federal or state laws and the Company’s Articles of Incorporation and Bylaws) also recorded in such stock transfer books, to be removed as applicable. 

4. Rights as a Stockholder. The Grantee shall be the record owner of the Restricted Stock unless or until such Restricted Stock is
forfeited pursuant to Section 2 or is otherwise sold or disposed of as permitted under Section 6 of this Agreement, and as record owner shall be entitled to all rights of a common stockholder of the Company (including, without limitation,
the payment of any dividends on the shares of Restricted Stock). 
 5. Conditions to Removal of Restrictions on Vested
Restricted Stock. The shares of stock deliverable under this Award, or any portion thereof, may be either previously authorized but unissued shares or issued shares, which have then been reacquired by the Company. Such shares shall be
fully paid and nonassessable. The Company shall not be required to remove from the stock transfer books of the Company the recording of the restrictions imposed on the Restricted Stock (or any portion thereof) referenced in Section 3 above
prior to fulfillment of all of the following conditions: 
 (a) The execution by the Grantee of the Management
Stockholder’s Agreement, a Sale Participation Agreement and a Non-Solicitation and Non-Disclosure Agreement (as amended from time to time); and 
 (b) The lapse of such reasonable period of time following the vesting of Restricted Stock as the Committee may from time to time establish for reasons of administrative convenience or as may otherwise be
required by applicable law. 
 6. Investment Representation. Grantee hereby acknowledges that the Restricted Stock shall
not be sold, transferred, assigned, pledged or hypothecated in the absence of an effective registration statement for the Shares under the Securities Act of 1933, as amended (the “Securities Act”), and applicable state securities
laws or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws or as otherwise provided herein, in the Management Stockholder’s Agreement or in the Plan. Grantee also agrees
that the Restricted Stock which Grantee acquires pursuant to this Agreement will not be sold or otherwise disposed of in any manner which would constitute a violation of any applicable securities laws, whether federal or state. 

7. Further Assistance. Grantee will provide assistance reasonably requested by the Company or any Service Recipient in connection
with actions taken by Grantee while employed by the Company or any Service Recipient, including but not limited to assistance in connection with any lawsuits or other claims against the Company or any Service Recipient arising from events during the
period in which Grantee was employed by the Company or any Service Recipient. 
 8. Binding Effect; No Third Party
Beneficiaries. This Agreement shall be binding upon and inure to the benefit of the Company (including Service Recipients) and Grantee and their respective heirs, representatives, successors and permitted assigns. This Agreement shall not
confer any rights or remedies upon any person other than the Company (including Service Recipients) and the Grantee and their respective heirs, representatives, successors and permitted assigns. The parties agree that this Agreement shall survive
the issuance of the Restricted Stock. 
 9. Transferability. The Restricted Stock may not at any time be transferred,
sold, assigned, pledged, hypothecated or otherwise disposed of unless such transfer, sale, assignment, pledge, hypothecation or other disposition complies with the provisions of this Agreement and the Management Stockholder’s Agreement.

  
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 10. Securities Laws. The Company may require the Grantee to make or enter into such
written representations, warranties and agreements as the Committee may reasonably request in order to comply with applicable securities laws or with this Agreement. The granting of the Restricted Stock hereunder shall be subject to all applicable
laws, rules and regulations and to such approvals of any governmental agencies as may be required. 
 11. Grantee’s
Continued Employment with the Company. Nothing contained in this Agreement or in any other agreement entered into by the Company and the Grantee guarantees that the Grantee will continue to be employed by the Company or any of its Subsidiaries
for any specified period of time. 
 12. Change in Capitalization. If the Company shall be reorganized, recapitalized or
restructured, consolidated or merged with another corporation, or otherwise undergo a significant corporate event, (a) the Restricted Stock may be adjusted and (b) any stock, securities or other property exchangeable for Common Stock
pursuant to such reorganization, recapitalization, restructuring, consolidation, merger or other corporate event, shall be deposited with the Company and shall become subject to the restrictions and conditions of this Agreement to the same extent as
if it had been the original property granted hereby, all pursuant to Sections 8 and 9 of the Plan. 
 13. Payment of
Taxes. The Grantee shall have full responsibility, and the Company shall have no responsibility, for satisfying any liability for any federal, state or local income or other taxes required by law to be paid with respect to such Restricted Stock,
including upon the vesting of the Restricted Stock. In connection with the foregoing, the Grantee may, at his option, elect to recognize the fair value of the Restricted Stock upon the Grant Date pursuant to Section 83 of the Internal
Revenue Code of 1986, as amended. The Grantee is hereby advised to seek his own tax counsel regarding the taxation of the grant of Restricted Stock made hereunder. Notwithstanding the above, if the Company’s accountants determine that there
would be no adverse accounting implications to the Company, the Grantee may be permitted to elect to use Common Stock otherwise deliverable to the Grantee hereunder to satisfy any such obligations, subject to such procedures as the Company’s
accountants may require. 
 14. Limitation on Obligations. The Company’s obligation with respect to the Restricted
Stock granted hereunder is limited solely to the delivery to the Grantee of shares of Common Stock on the date when such shares are due to be delivered hereunder, and in no way shall the Company become obligated to pay cash in respect of such
obligation. This Restricted Stock Award shall not be secured by any specific assets of the Company or any Service Recipient, nor shall any assets of the Company or any Service Recipient be designated as attributable or allocated to the satisfaction
of the Company’s obligations under this Agreement. In addition, the Company shall not be liable to the Grantee for damages relating to any delays in issuing the share certificates to him (or his designated entities), any loss of the
certificates, or any mistakes or errors in the issuance of the certificates or in the certificates themselves. 
 15.
Notices. Any notice to be given under the terms of this Agreement to the Company shall be addressed to the Company in care of its Secretary, and any notice to be given to the Grantee shall be addressed to him at the address given beneath his
signature hereto. By a notice given pursuant to this Section 15, either party may hereafter designate a different address for notices to be given to him. Any notice that is required to be given to the Grantee shall, if the Grantee is then
deceased, be given to the Grantee’s personal representative if such representative has previously informed the Company of his status and address by written notice under this Section 15. Any notice shall have been deemed duly given when
enclosed in a properly sealed envelope or wrapper addressed as aforesaid, deposited (with postage prepaid) in a post office or branch post office regularly maintained by the United States Postal Service. 

16. Governing Law. The laws of the State of Delaware shall govern the interpretation, validity and performance of the terms of
this Agreement regardless of the law that might be applied under principles of conflicts of laws. 

  
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 17. Management Stockholder’s Agreement, Sale Participation Agreement and
Non-Solicitation and Non-Disclosure Agreement. The shares of Common Stock received by Grantee upon settlement of the Restricted Stock shall, to the extent applicable, be subject to the terms and conditions of the Management Stockholder’s
Agreement, Sale Participation Agreement and the Non-Solicitation and Non-Disclosure Agreement (as amended from time to time). Notwithstanding anything to the contrary in the Management Stockholder’s Agreement or Non-Solicitation and
Non-Disclosure Agreement, if, at any time while the Grantee is employed with the Company or during the twelve months following the termination of Grantee’s employment with the Company for any reason (the “Termination Date”):
(a) Grantee breaches any of the restrictive covenants contained in the Non-Solicitation and Non-Disclosure Agreement or (b) the Committee reasonably determines that the Grantee has at any time engaged in ethical misconduct in violation of
the Company’s Code of Conduct, which the Committee reasonably determines caused material business or reputational harm to the Company, then the Committee may, in any such event and to the extent permitted by governing law, elect to impose the
requirements of Section 18 below (any such foregoing event, a “Clawback Event”). 
 18.
Clawback/Recoupment. 
 (a) If the Committee reasonably determines that a Clawback Event has occurred, the Committee may
require Grantee: (i) to forfeit any unvested Restricted Stock and/or to return all, or such portion as the Committee may determine, of the Vested Restricted Stock then held by Grantee, which became vested within the Clawback Period (defined
below); and/or (ii) to the extent that such determination occurs after the Company has purchased from Grantee, pursuant to the terms of the Management Stockholder’s Agreement, any Vested Restricted Stock received by Grantee upon vesting of
this Award during the Clawback Period, to reimburse to the Company any payment(s) received from the Company in connection with such purchase, on a net after-tax basis; and/or (iii) to pay to the Company the full value of the Vested Restricted
Stock Grantee received upon vesting of this Award during the Clawback Period, if Grantee previously sold or otherwise disposed of any such Vested Restricted Stock to a third party prior to the Committee determining that a Clawback Event has or had
occurred. For purposes of this Agreement, the term “Clawback Period” means the three-year period immediately preceding the earlier of (x) a Clawback Event and (y) the Termination Date. 

(b) In the event the foregoing Section 18(a) applies, the Company may, at its sole election: 

(i) require the Grantee to return such Vested Restricted Stock, and/or pay such amount as determined in such provision in
a cash lump sum, in each case within 30 days of such determination; 
 (ii) deduct the amount from any other
compensation owed to the Grantee (as a condition to acceptance of this Award, the Grantee agrees to permit the deduction provided for by this subsection) the value of such Vested Restricted Stock and/or amount otherwise due thereunder, as
applicable; or 
 (iii) a combination of subsections (b)(i) and (b)(ii). 

(c) In addition to the foregoing, this Award and any vested Restricted Stock acquired hereunder, and any proceeds received in respect of
any of the foregoing by the Grantee, shall be subject to any reduction, cancellation, forfeiture or recoupment, in whole or in part, upon the occurrence of certain specified events, as may be required by the Securities and Exchange Commission or any
applicable national or local exchange, law, rule or regulation. 
 (d) By accepting this Award, the Grantee agrees that timely
deliver or payment to the Company as set forth in this Section 18 is reasonable and necessary, and that timely delivery or payment to the Company as set forth in this Section 18 is not a penalty, and it does not preclude the Company from

  
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seeking all other remedies that may be available to the Company. The Grantee further acknowledges and agrees that the Grantee’s unvested Restricted Stock shall be cancelled and forfeited
without payment by the Company if the Committee reasonably determines that the Grantee has engaged in the conduct specified under Section 18(a) above. 
 19. Conflict. In the event of any conflict between this Agreement and the Plan, the terms of the Plan shall control. For the avoidance of doubt and for purposes of the Management Stockholder’s
Agreement or the Sale Participation Agreement, only shares of Restricted Stock granted under this Award that become Vested Restricted Stock on or after any applicable vesting date that has occurred shall be considered “Stock” under this
Agreement and the Management Stockholder’s Agreement, and “Common Stock” that is eligible to be included in any Request (as defined in the Sale Participation Agreement) for purposes of the Sale Participation Agreement. 

20. Signature in Counterparts. This Agreement may be signed in counterparts, each of which shall be an original, with the same
effect as if the signatures thereto and hereto were upon the same instrument. 
 [Continued on next page.] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first
above written. 
  

			
	USF HOLDING CORP.
		
	By:	 	 

 
			
	Name:	 	
	Title:	 	
	
	GRANTEE
	
	 
	Name:	 	[                ]EX-10.1

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 This Employment Agreement (this
“Agreement”), is dated as of May 28, 2013 and is entered into between Endurance Specialty Holdings Ltd. (the “Company”), and John R. Charman (the “Executive”). 

WHEREAS, the Company desires to enter into this Agreement in order to embody the terms of the Executive’s employment with the
Company and the Executive desires to enter into this Agreement and to accept such employment, subject to the terms and provisions of this Agreement. 
 NOW, THEREFORE, in consideration of the premises and the mutual agreements contained herein, the Company and the Executive hereby agree as follows: 

ARTICLE I. 

Definitions 
 As used in this Agreement, the following capitalized terms shall have the meanings set forth in this Article I. Terms used in this Agreement and not otherwise defined shall have the meaning set forth in
the Companies Act 1981 of Bermuda. 
 1.1 “Board” shall mean the Board of Directors of the Company. 

1.2 “Business” shall mean the brokerage, underwriting, advising or consulting of or with respect to any line of
insurance or reinsurance underwritten by the Company or any of its subsidiaries or affiliates as an insurer or reinsurer during the Term. 
 1.3 “Cause” shall mean: 
 (a) any intentional act
of fraud, embezzlement or theft by the Executive in connection with his duties hereunder or in the course of his employment hereunder 
 (b) the Executive’s admission or conviction of, or plea of nolo contendere to either, (i) any felony or (ii) a misdemeanor involving moral turpitude, fraud, embezzlement, theft or
misrepresentation; 
 (c) any gross negligence or willful misconduct of the Executive resulting in a demonstrable
and material economic loss to the Company or any of its subsidiaries or affiliates; 
 (d) any willful breach by
the Executive of any one or more of the covenants contained in Section 5.2, 5.3, 5.4 or 5.5 hereof, provided the Executive has received 15 calendar days’ prior written notice of such breach in accordance with Section 7.3 of this
Agreement and has failed to remedy the breach in that 15 day period; or 

 (e) any willful and material violation of any statutory or common law duty
of loyalty to the Company or any of its subsidiaries or affiliates resulting in a demonstrable and material economic loss to the Company or any of its subsidiaries. 
 For the purposes of determining Cause, no act or failure to act on the Executive’s part shall be deemed “willful” unless done, or omitted to be done, by the Executive not in good faith and
without reasonable belief that the Executive’s act, or failure to act, was in the best interest of the Company. 
 1.4
“Change in Control” shall mean: 
 (a) the acquisition by any individual, entity or group (a
“Person”), including any “person” within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), of beneficial ownership within the meaning of Rule 13d-3
promulgated under the Exchange Act, of 50% or more of either (i) the then outstanding ordinary shares, par value $1.00 per share, of the Company (the “Outstanding Ordinary Shares”) or (ii) the combined voting power of the then
outstanding securities of the Company entitled to vote generally in the election of directors pursuant to the Bye-Laws of the Company (the “Outstanding Voting Securities”); excluding, however, the following: (A) any
acquisition directly from the Company (excluding any acquisition resulting from the exercise of an exercise, conversion or exchange privilege unless the security being so exercised, converted or exchanged was acquired directly from the Company),
(B) any acquisition by the Company, (C) any acquisition by an employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company or (D) any acquisition by any corporation
pursuant to a transaction which complies with clauses (i), (ii) and (iii) of subsection (c) of this definition of Change in Control; provided, further, that for purposes of clause (B), if any Person (other than the
Company or any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company) shall become the beneficial owner of 50% or more of the Outstanding Ordinary Shares or 50% or more of the
Outstanding Voting Securities by reason of an acquisition by the Company, and such Person shall, after such acquisition by the Company, become the beneficial owner of any additional Outstanding Ordinary Shares or any additional Outstanding Voting
Securities and such beneficial ownership is publicly announced, such additional beneficial ownership shall constitute a Change in Control; 
 (b) individuals who, as of the date hereof, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of such Board within a 24 month period;
provided, that any individual who becomes a director of the Company subsequent to the date hereof whose election, or nomination for election by the Company’s shareholders, was approved by the vote of at least a majority of the directors
then comprising the Incumbent Board shall be deemed a member of the Incumbent Board; and provided, further, that any individual who was initially elected as a director of the Company as a result of an actual or threatened solicitation
by a Person other than the Board for the purpose of opposing a solicitation by any other Person with respect to the election or removal of directors, or any other actual or threatened solicitation of proxies or consents by or on behalf of any Person
other than the Board shall not be deemed a member of the Incumbent Board; 

  
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 (c) the consummation of a reorganization, amalgamation, merger or
consolidation, or sale or other disposition of all or substantially all of the assets, of the Company (a “Corporate Transaction”); excluding, however, a Corporate Transaction pursuant to which (i) all or substantially
all of the individuals or entities who are the beneficial owners, respectively, of the Outstanding Ordinary Shares and the Outstanding Voting Securities immediately prior to such Corporate Transaction will beneficially own, directly or indirectly,
more than 55% of, respectively, the outstanding shares of common stock, and the combined voting power of the outstanding securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such
Corporate Transaction (including, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or indirectly) in substantially the same proportions
relative to each other as their ownership, immediately prior to such Corporate Transaction, of the Outstanding Ordinary Shares and the Outstanding Voting Securities, as the case may be, (ii) no Person (other than: the Company; any employee
benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company; the corporation resulting from such Corporate Transaction; and any Person which beneficially owned, immediately prior to such
Corporate Transaction, directly or indirectly, 50% or more of the Outstanding Ordinary Shares or the Outstanding Voting Securities, as the case may be) will beneficially own, directly or indirectly, 50% or more of, respectively, the outstanding
shares of common stock of the corporation resulting from such Corporate Transaction or the combined voting power of the outstanding securities of such corporation entitled to vote generally in the election of directors and (iii) individuals who
were members of the Incumbent Board will constitute at least a majority of the members of the board of directors of the corporation resulting from such Corporate Transaction; or 

(d) the consummation of a plan of complete liquidation or dissolution of the Company. 

1.5 “Change in Control Period” shall mean the period commencing three months prior to the date of a Change in Control
and ending on the first annual anniversary of the date of a Change in Control. 
 1.6 “Confidential
Information” shall mean any confidential or proprietary information, trade secrets, customer lists, drawings, designs, information regarding product development, marketing plans, sales plans, manufacturing plans, management organization
information, operating policies or manuals, business plans, financial records, packaging design or other financial, commercial, business or technical information relating to the Company or any of its divisions, subsidiaries or affiliates, or that
the Company or any of its divisions, subsidiaries or affiliates may have received belonging to suppliers, customers or others who do business with the Company or any of its divisions, subsidiaries or affiliates. 

  
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 1.7 “Date of Separation from Service” shall mean the following: 

(a) if the Executive’s employment is terminated for Cause, the date specified in the Notice of Separation from
Service; 
 (b) if the Executive’s employment is terminated by the Executive’s death, the date of the
Executive’s death; 
 (c) if the Executive’s employment is terminated for Disability, 15 calendar days
after the Notice of Separation from Service is given (provided that the Executive shall not have returned to the full-time performance of the Executive’s duties during such 15 calendar day period); 

(d) if the Executive’s employment is terminated by the Executive with Good Reason, 30 calendar days after the Notice
of Separation from Service is given (provided that the Company shall not have cured the event giving rise to the Executive’s right to separation from service for Good Reason during such 30 calendar day period); 

(e) if the Executive’s employment is terminated by the Company by delivery of a notice of non-renewal of this
Agreement pursuant to Section 3.1 , such Renewal Date; and 
 (f) if the Executive’s employment is
terminated by the Executive or the Company for any other reason, the date specified in the Notice of Separation from Service, which shall (subject to section 6.1(d)) not be less than 14 calendar days nor more than 30 calendar days from the date such
Notice of Separation from Service is given. 
 1.8 “Disability” shall mean any condition which
(i) prevents the Executive from substantially performing his duties under this Agreement for a period of at least 120 consecutive days, or 180 non-consecutive days within any 365-day period, and (ii) causes the Executive to become eligible
for the Company’s long-term disability plan. 
 1.9 “Good Reason” shall mean, 

(a) a material diminution in the Executive’s Base Salary; 

(b) the assignment to the Executive of duties materially inconsistent with the Executive’s position as Chairman and
Chief Executive Officer of the Company or a material reduction in the Executive’s authorities or responsibilities as Chairman and Chief Executive Officer of the Company; 

(c) the Executive is required to report to a corporate officer or employee instead of reporting directly to the Board;

 (d) a material change in the geographic location at which the Executive must perform his services on behalf of
the Company; 
 (e) a material breach by the Company of its obligations under the Restricted Share Agreement or
the Option Agreement or a termination of the Restricted Share Agreement under section 11(d) of that Agreement or the termination of the Option Agreement under section 10(e) of that Agreement; 

  
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 (f) the Board failing to elect the Executive as the Chairman or failing to
recommend the re-election of the Executive as a director to the shareholders of the Company; or 
 (g) any other
action or inaction that constitutes a material breach by the Company of this Agreement. 
 It is understood and agreed by the
parties hereto that the Executive ceasing to be the Chairman or a director of the Company as a result of the failure of the Executive to be re-elected by the shareholders of the Company shall not constitute “Good Reason.” 

1.10 “Notice of Separation from Service” shall mean a notice that shall indicate the specific separation from service
provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for severance of the Executive’s service with the Company under the provision so indicated. 

1.11 “Option” shall mean the option to acquire ordinary shares, par value $1.00 per share, of the Company, pursuant to
the Option Agreement. 
 1.12 “Option Agreement” shall mean the Option Agreement, by and between the Company
and the Executive, dated May 28, 2013. 
 1.13 “Restricted Share” shall mean each ordinary share, par
value $1.00 per share, of the Company, issued to the Executive under the Restricted Share Agreement. 
 1.14 “Restricted
Share Agreement” shall mean the Restricted Share Agreement, by and between the Company and the Executive, dated May 28, 2013. 
 ARTICLE II. 
 Employment, Duties and Responsibilities 

2.1 Employment. During the Term, the Company agrees to employ the Executive and the Executive hereby agrees to be employed as the
Chairman and Chief Executive Officer of the Company, upon the terms and subject to the conditions contained in this Agreement. It is acknowledged and confirmed that the Executive has been appointed to the Board on the date of this Agreement.

 2.2 Duties and Responsibilities. The Executive shall report exclusively to the Board and have such duties and
responsibilities during the Term consistent with his position as Chairman and Chief Executive of the Company as specified by the Board. These duties and responsibilities may be modified from time to time in a manner consistent with the
Executive’s position as Chairman and Chief Executive Officer. The Executive agrees to serve as a director and/or officer of any subsidiary of the Company at a level commensurate with his position as Chairman and Chief Executive Officer as may
be reasonably requested by the Board. 

  
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 2.3 Base of Operation. The Executive’s principal base of operation for the
performance of his duties and responsibilities under this Agreement shall be the offices of the Company in Pembroke, Bermuda; provided, however, that the Executive shall perform such duties and responsibilities outside of Pembroke,
Bermuda as shall from time to time be reasonably necessary to fulfill his obligations hereunder. The Executive will not be required by the Company to spend more than 45 working days in any single jurisdiction (other than Bermuda) in any period of 12
months without his consent. The Company and the Executive may at any time during the Term mutually agree to change the principal base of operation for the performance of the Executive’s duties and responsibilities. The Executive’s
performance of any duties and responsibilities shall be conducted in a manner consistent with any tax operating guidelines promulgated from time to time by the Board. 
 ARTICLE III. 
 Term 

3.1 Term. The term of this Agreement shall commence as of the date of this Agreement and, unless terminated sooner as provided in
Article VI, continue until the fifth anniversary of the date of this Agreement (the “Initial Term”). The Initial Term shall be extended for successive one-year periods (each, an “Extension Term” and, collectively with the Initial
Term, the “Term”) as of each May 28th commencing May 28, 2018 (each, a “Renewal Date”) unless, with respect to any such Renewal Date, either party gives the other party hereto at least 90 days prior to the expiration of
the then-applicable Term written notice of its election not to so extend the Term. 
 ARTICLE IV. 

Compensation and Expenses 
 4.1 Salary, Bonuses, Incentive Awards and Benefits. As compensation and consideration for the performance by the Executive of his obligations under this Agreement, the Executive shall be entitled,
during the Term, to the following: 
 (a) Base Salary. During the Term, the Company shall pay to the
Executive a base salary of $100 per annum, subject to increase from time to time as determined by the Board (“Base Salary”). The Executive’s Base Salary shall be payable in accordance with the Company’s normal payroll procedures
and shall not during the Term be reduced below the annual rate payable to the Executive on the date of this Agreement. 
 (b) Annual Incentive Compensation. The Executive shall not be eligible for annual incentive compensation. 
 (c) Long-Term Incentive Compensation. The Executive shall not be eligible for long-term incentive compensation. 

  
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 (d) Benefits. The Executive shall be eligible to participate in such
pension, savings plan, life insurance, health insurance, disability insurance and major medical insurance benefits, and in such other employee benefit plans and programs for the benefit of the employees and officers of the Company generally, as may
be maintained from time to time during the Term, in each case to the extent and in the manner available to other employees of the Company, subject to the terms and provisions of such plan or program. Health insurance cover shall be provided for the
Executive’s wife and dependent children (including by adoption) in accordance with the Company’s existing health insurance plan for similarly situated executives. 

(e) Equity Awards. On the date of this Agreement, the Company and the Executive shall enter into the Restricted
Share Agreement and the Option Agreement. 
 (f) Review. With effect from the fifth anniversary of the
date of this Agreement, the Base Salary, Annual Incentive Compensation, Long-Term Incentive Compensation and benefits of the Executive shall be reviewed by the Executive and the Board and may be adjusted, by agreement of the Executive and the Board,
to rates and benefits commensurate for an executive of the qualification and experience of the Executive in the Business. 
 (g) Vacation. The Executive shall be entitled to up to 30 days of paid vacation per annum, subject to Company policy, to be taken in the Executive’s discretion, in a manner consistent with the
Executive’s obligations to the Company under this Agreement. 
 (h) Travel Reimbursement. During the
Term, the Executive shall be entitled to lease at the Company’s expense for his use in connection with business travel a private aircraft. In addition, the Company shall reimburse the Executive for the lease expense of a private aircraft for
personal use by the Executive and the Executive’s wife and children (including by adoption) for up to twelve (12) round trips to and from the East Coast of the United States (including Atlanta, Georgia) and Bermuda per annum. 

(i) Indemnification/Liability Insurance. The Company shall indemnify the Executive as required by the Bye-laws of
the Company, and shall maintain customary insurance policies providing for indemnification of the Executive in his capacity as a director or officer of the Company and its subsidiaries and affiliates. In addition to the foregoing, the Executive and
the Company agree to enter into the Indemnification Agreement attached hereto as Exhibit A concurrent with the execution and delivery of this Agreement. 
 4.2 Expenses; Other Benefits. During the Term, the Company shall provide the Executive with the following expense reimbursements and perquisites: 

(a) Business Expenses. The Company will reimburse the Executive for reasonable business-related expenses incurred
by the Executive in connection with the performance of the Executive’s duties hereunder during the Term, subject, however, to the Company’s policies relating to business-related expenses as in effect from time to time. 

  
 7 

 (b) Other Benefits. The Company may also provide for other benefits
for the Executive as it determines from time to time during the Term, consistent with practices governing similarly situated senior executives of the Company. 
 4.3 Tax. The Company shall be responsible for and will duly and promptly report and account for all payroll taxes, if any, that are required to be paid at any time in Bermuda in respect of the
salary and benefits provided to the Executive under this Agreement and in respect of the equity awards to the Executive under the Restricted Share Agreement and the Option Agreement. 

ARTICLE V. 

Exclusivity, Etc. 
 5.1 Exclusivity. During the Term, the Executive shall perform faithfully and loyally and to the best of the Executive’s abilities the duties assigned to the Executive hereunder and shall
(subject to the final sentence of this clause) devote the Executive’s full business time, attention and effort to the affairs of the Company and its subsidiaries and affiliates and shall use the Executive’s reasonable best efforts to
promote the interests of the Company and its subsidiaries and affiliates. Notwithstanding the foregoing, the Executive may engage in charitable, civic or community activities, provided that such memberships and activities do not interfere with the
Executive’s duties hereunder, violate any of the Executives obligations under this Agreement or create a potential business or fiduciary conflict. The Company acknowledges that the Executive holds non-executive board positions with each of HSBC
Bank Bermuda Ltd, HSBC Insurance (Bermuda) Limited and Masterworks Museum of Bermuda Art and agrees that the Executive may retain those positions and continue to fulfill his obligations under those positions, to the extent the fulfillment of his
obligations under such positions do not unduly interfere with the performance of his duties as Chairman and Chief Executive Officer of the Company or create a potential business or fiduciary conflict. 

5.2 Non-Solicitation. 
 (a) General. The Executive acknowledges that in the course of the Executive’s employment with the Company the Executive will become familiar with trade secrets and other confidential
information concerning the Company and its divisions, subsidiaries and affiliates and that the Executive’s services will be of special, unique and extraordinary value to the Company and its divisions, subsidiaries and affiliates. 

(b) Non-solicitation. The Executive further agrees that during the Term and the period from the Date of Separation
from Service until the one year anniversary of the Date of Separation from Service, the Executive shall not (i) in any manner, directly or indirectly, induce or attempt to induce any employee of the Company or any of its divisions, subsidiaries
or affiliates to terminate or abandon his or her employment for any purpose whatsoever or (ii) in connection with the Business, call on, service, solicit or otherwise do business with any customer of the Company or any of its divisions,
subsidiaries or affiliates. 

  
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 (c) Exceptions. Nothing in this Section 5.2 shall prohibit the
Executive from being (i) a stockholder in a mutual fund or a diversified investment company, (ii) a stockholder of Axis Capital Holdings Limited (or any successor entity) or (iii) an owner of not more than two percent of the
outstanding stock of any class of a corporation whose principal business is competitive with the Business, any securities of which are publicly traded, so long as the Executive has no active participation in the business of such corporation or
(iv) an owner of not more than five percent of the outstanding stock of any class of any other corporation whose securities are publicly traded. 
 5.3 Confidential Information. 
 (a) General. The
Executive agrees that the Executive will not, at any time during or after the Term, make use of or divulge to any other person, firm or corporation any Confidential Information which he may have learned in connection with his employment hereunder.

 (b) Exceptions. The Executive’s obligation under this Section 5.3 shall not apply to any
information which (i) is disclosed or used during the Term by the Executive as required or appropriate in connection with his duties as an officer or director of the Company or a subsidiary or affiliate thereof, (ii) is disclosed as
required by a court of law, by any governmental agency having supervisory authority over the business of the Company or any of its divisions, subsidiaries or affiliates or by any administrative or legislative body, (including a committee thereof)
with apparent jurisdiction to order the Executive to divulge, disclose or make accessible such information, (iii) is disclosed to the Executive’s spouse, attorney and/or his personal tax and financial advisors as reasonably necessary or
appropriate to advance the Executive’s tax, financial and other personal planning (iv) is known publicly; (v) is in the public domain or hereafter enters the public domain without the fault of the Executive; (vi) is known to the
Executive prior to his receipt of such information from the Company or any of its divisions, subsidiaries or affiliates, as evidenced by written records of the Executive or (vii) is hereafter disclosed to the Executive by a third party not
under an obligation of confidence to the Company or any of its divisions, subsidiaries or affiliates. 
 (c)
Executive Obligations. The Executive agrees that he shall, immediately after he gains knowledge of any required disclosure of Confidential Information pursuant to clause (ii) of subsection (b) above, give the Company written notice
promptly upon obtaining knowledge of the required disclosure of Confidential Information and, in any event, prior to such required disclosure of Confidential Information, and use commercially reasonable efforts to cooperate with the Company (at the
Company’s sole expense) in obtaining an adequate protective order for such Confidential Information, provided that nothing shall require the Executive to breach any legal obligation of disclosure. The Executive further agrees to properly advise
any recipient of Confidential Information pursuant to clause (iii) of subsection (b) above of the obligations of the Executive hereunder, to obtain the agreement of such recipient to be bound by the terms of this Section 5.3 as if a
signatory to this Agreement and to be responsible for any breach by any such recipient of the terms of this Section 5.3. The Executive further agrees not to remove from the premises of the Company, or as applicable, the premises of any of its
divisions, subsidiaries or affiliates, except as an employee of the Company 

  
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in pursuit of the business of the Company, its divisions, subsidiaries or affiliates, or except as specifically permitted in writing by the Board, any document or other object containing or
reflecting any Confidential Information. On or before the Date of Separation from Service, the Executive shall forthwith deliver to the Company all such Confidential Information, including without limitation all lists of customers, correspondence,
accounts, records and any other documents or property made or held by the Executive or under the Executive’s control in relation to the business or affairs of the Company or its subsidiaries or affiliates, and no copy of any such Confidential
Information shall be retained by the Executive. 
 5.4 Inventions. The Executive hereby assigns to the Company the
Executive’s entire right, title and interest in and to all discoveries and improvements, patentable or otherwise, trade secrets, proprietary ideas, trademarks, trade names, Internet domain names, writings, and copyrightable works that are
conceived by the Executive or developed or acquired by the Executive during the Term in connection with the Executive’s employment by the Company, the Executive’s duties to the Company and the business of the Company or any of its
subsidiaries or affiliates (“Developments”); provided, that the foregoing assignment shall not apply to writings and copyrightable works of a general nature about the Executive’s experience at the Company or about the insurance
industry that are created by the Executive outside of the Executive’s duties and outside of normal working hours, subject in all cases to Section 5.3. The Executive agrees to disclose fully all such Developments to the Company upon its
request, which disclosure shall be made in writing promptly following any such request. The Executive shall, upon the Company’s request and at its expense, execute, acknowledge and deliver to the Company all instruments and do all other acts
which are necessary or desirable to enable the Company or any of its subsidiaries to file and prosecute applications for, and to acquire, maintain and enforce, all patents, trademarks and copyrights in all countries in respect of the Developments.

 5.5 Non-Disparagement. Each party hereto acknowledges and agrees that such party will not defame or publicly criticize
the services, business, integrity, veracity or personal or professional reputation of the other party and, in the case of the Company, its officers, directors, partners, employees, affiliates or agents thereof, in either a professional or personal
manner. 
 5.6 Remedies. The Executive acknowledges that the Company’s remedy at law for a breach by him of the
provisions of this Article V may be inadequate. Accordingly, in the event of a breach or threatened breach by the Executive of any provision of this Article V, the Company shall be entitled to injunctive relief (without posting a bond or other
security) in addition to any other remedy it may have. If any of the provisions of, or covenants contained in, this Article V are hereafter construed to be invalid or unenforceable in any jurisdiction, the same shall not affect the remainder of the
provisions or the enforceability thereof in any other jurisdiction, which shall be given full effect, without regard to the invalidity or unenforceability in such other jurisdiction. If, at any time of enforcement of this Article V, a court or an
arbitrator holds that the restrictions stated herein are unreasonable and/or unenforceable under circumstances then existing, the parties hereto agree that the maximum period, scope or geographical area reasonable and/or enforceable in a particular
jurisdiction under such circumstances shall be substituted for the stated period, scope or area and that the court or arbitrator shall be allowed to revise the restrictions contained herein to cover the maximum period, scope and area permitted by
law; provided, however, that the determination of such court or arbitrator shall not affect the enforceability of this Article V in any other jurisdiction. This Agreement shall not authorize a court or arbitrator to increase or broaden
any of the restrictions in this Article V. 

  
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 5.7 Blue Pencil. If, at any time, the provisions of this Article V shall be
determined to be invalid or unenforceable under any applicable law, by reason of being vague or unreasonable as to area, duration or scope of activity, this Article V shall be considered divisible and shall become and be immediately amended to only
such area, duration and scope of activity as shall be determined to be reasonable and enforceable by the court or other body having jurisdiction over the matter. The Executive and the Company agree that this Article V as amended pursuant to the
immediately preceding sentence, shall be valid and binding as though any invalid or unenforceable provision had not been included therein. 
 ARTICLE VI. 
 Separation from Service 

6.1 Involuntary Separation from Service 
 (a) Separation from Service for Cause. The Company shall have the right to sever the Executive’s service with the Company at any time for Cause by delivery of a Notice of Separation from
Service. 
 (b) Death. In the event the Executive dies during the Term, the Executive’s service with
the Company shall automatically be severed, such separation from service to be effective on the date of the Executive’s death. 
 (c) Disability. In the event that the Executive suffers a Disability, the Company shall have the right to sever the Executive’s service with the Company by delivery of a Notice of Separation
from Service. 
 (d) Separation from Service without Cause. The Company may at any time sever the
Executive’s service with the Company by delivery of a Notice of Separation from Service for any reason other than Cause or the Executive’s death or Disability. If such Notice of Separation from Service is given by the Company after the
fifth anniversary of this Agreement, 12 months’ notice of termination shall be given by the Company. In the event the Company elects not to renew this Agreement pursuant to Section 3.1 hereof, the Executive’s service with the Company
shall be severed on such Renewal Date and the notice of non-renewal of this Agreement delivered by the Company to the Executive pursuant to Section 3.1 shall constitute delivery of a Notice of Separation from Service without Cause. 

6.2 Executive Separation from Service. 
 (a) Separation from Service without Good Reason. The Executive may terminate his employment at any time without Good Reason by delivery of a Notice of Separation from Service to the Company. In the
event the Executive elects not to renew this Agreement pursuant to Section 3.1 hereof, the Executive’s service with the Company shall be severed on such Renewal Date and the notice of non-renewal of this Agreement delivered by the
Executive to the Company pursuant to Section 3.1 shall constitute delivery of a Notice of Separation from Service without Good Reason. 

  
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 (b) Separation from Service with Good Reason. The Executive may
terminate his employment for Good Reason only by delivery of Notice of Separation from Service to the Company within 60 calendar days of the later of Executive first becoming aware of the circumstances giving rise to the Executive’s right to
terminate his employment for Good Reason and termination of any negotiation between the Company and the Executive to remedy the event in question. 
 6.3 Notice of Separation from Service. Any purported separation of the Executive’s service with the Company (other than separation from service pursuant to Section 6.1(b) or the second
sentence of Section 6.1(d) hereof) shall be communicated by written Notice of Separation from Service to the other party hereto delivered in accordance with Section 7.3 hereof. 

6.4 Effect of Separation from Service. In the event of any severance of the Executive’s service with the Company during the
Term, the Company shall pay to or provide the Executive with the following compensation and benefits: 
 (i) Any
earned but unpaid Base Salary up to and including the Date of Separation from Service, payable in accordance with the Company’s customary payroll procedures; 

(ii) Any unreimbursed business expenses incurred by the Executive in the performance of his duties for the Company prior
to the Date of Separation from Service, upon receipt by the Company of documentation in such form as customarily required by the Company to report business expenses, payable in accordance with the Company’s customary business expense
reimbursement procedures; 
 (iii) The Executive’s Base Salary for any vacation days
accrued and unused (determined in accordance with Company policy) by the Executive from the immediately preceding January 1st until the Date of Separation from Service, payable in accordance with the Company’s customary payroll procedures;
and 
 (iv) Any other benefits available due to the Executive under the terms of this Agreement or to employees
of the Company generally, through and including the Date of Separation from Service, payable or deliverable in accordance with the terms and conditions applicable to such benefits. 

6.5 Restricted Shares and Option. The Executive’s rights with respect to his Restricted Shares and Option upon any separation
from service with the Company shall be governed exclusively by the terms and conditions of the Restricted Share Agreement and Option Agreement. 
 6.6 Executive Release. The execution by the Executive of the Executive Release attached hereto as Exhibit B shall be a condition precedent to the delivery to the Executive by the Company of any
post-employment release of restrictions or vesting of the Restricted Shares or 

  
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the Option (except in the case of the Executive’s death) under the terms of the Restricted Share Agreement and the Option Agreement. In addition, the Executive agrees that, upon a
termination of employment prior to the end of the Initial Term, a portion of the value delivered by the Company to the Executive under the Restricted Share Agreement and the Option Agreement upon a termination of the Executive’s employment
shall be deemed severance pay in lieu of any notice required under applicable law and that the Company shall have no other liability to the Executive in respect of the termination of this Agreement. 

6.7 Resignations. The resignation by the Executive from all director and officer positions held by the Executive with the Company
and any subsidiary or affiliate of the Company shall be a condition precedent to the delivery to the Executive by the Company of any post-employment payment or benefit under this Agreement, the Restricted Share Agreement or the Option Agreement
(other than in connection with a separation of the Executive’s service with the Company as a result of the Executive’s death). 
 6.8 Other Compensation and Benefits. Except as specified in Sections 6.4 and 6.5, the Executive shall not be entitled to any compensation, benefits or other payments or distributions under the
terms of this Agreement after the Date of Separation from Service. 
 6.9 Obligations of the Executive. The Executive
shall have no obligations to the Company under this Agreement after the Date of Separation from Service, other than as provided in Section 6.10, and except and to the extent Sections 5.2, 5.3, 5.4 or 5.5 shall apply. 

6.10 Post-Separation from Service Cooperation. Following any separation of the Executive’s service with the Company for any
reason, the Executive shall reasonably cooperate with the Company to assist with existing or future investigations, proceedings, litigations or examinations involving the Company or any of its divisions, subsidiaries or affiliates. For each business
day, or part thereof, that the Executive provides assistance as contemplated under this Section 6.10, the Company shall pay the Executive an amount equal to $2,500. In addition, upon presentment of satisfactory written documentation, the
Company will reimburse the Executive for reasonable out-of-pocket travel, lodging and other incidental expenses he incurs in providing such assistance. 
 ARTICLE VII. 
 Miscellaneous 

7.1 Life Insurance. The Executive agrees that the Company or any of its divisions, subsidiaries or affiliates may at its own cost
apply for and secure and own insurance on the Executive’s life (in amounts determined by the Company) for the benefit of the Company. The Executive agrees to cooperate fully in the application for and securing of such insurance, including the
submission by the Executive to such physical and other examinations, and the answering of such questions and furnishing of such information by the Executive, as may be required by the carrier(s) of such insurance. Subject to Section 4.1,
neither the Company nor any of its divisions, subsidiaries or affiliates shall be required to obtain any insurance for or on behalf of the Executive. 

  
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 7.2 Benefit of Agreement; Assignment; Beneficiary. This Agreement shall inure to the
benefit of and be binding upon the Company and its successors, including, any corporation or person with or into which the Company may be consolidated or merged. This Agreement shall also inure to the benefit of, and be enforceable by, the Executive
and his personal or legal representatives, executors, administrators, successors, heirs, distributes, devisees and legatees. No party may otherwise assign or transfer any of its rights or obligations under this Agreement. 

7.3 Notices. All notices and other communications required or permitted hereunder shall be in writing and shall be deemed given
when (a) delivered personally or by overnight courier to the following address of the other party hereto (or such other address for such party as shall be specified by notice given pursuant to this Section 7.3) or (b) sent by
facsimile to the following facsimile number of the other party hereto (or such other facsimile number for such party as shall be specified by notice given pursuant to this Section 7.3), with the confirmatory copy delivered by overnight courier
to the address of such party pursuant to this Section 7.3: 
 If to the Company, to: 

Endurance Specialty Holdings Ltd. 
 Wellesley House 
 90 Pitts Bay Road 

Pembroke HM 08, Bermuda 
 Attention: General Counsel 
 Facsimile: (441) 278-0401

 If to the Executive, to the residence address or residence facsimile number of the Executive set forth in the records of the
Company. 
 7.4 Entire Agreement: This Agreement, the Option Agreement, the Restricted Share Agreement, the
Indemnification Agreement, dated May 28, 2013, between the Company and the Executive, the Share Purchase Agreement, dated May 28, 2013, between the Company and Dragon Global Holdings Ltd., and the Shareholder Agreement, dated May 28,
2013, among the Company, the Executive and Dragon Global Holdings Ltd., together contain the entire agreement of the parties hereto with respect to the terms and conditions of the Executive’s employment and supersede any and all prior
agreements and understandings, whether written or oral, between the parties hereto with respect to the Executive’s employment with the Company. 
 7.5 Amendment and Waiver. This Agreement may not be changed or modified except by an instrument in writing signed by both of the parties hereto. The waiver by either party of a breach of any
provision of this Agreement shall not operate or be construed as a continuing waiver or as a consent to or waiver of any subsequent breach hereof. 
 7.6 Headings. The Article and Section headings herein are for convenience of reference only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any of the
provisions hereof. 
 7.7 Arbitration. Except as otherwise set forth in Section 5.6 hereof, any dispute or
controversy between the Company and the Executive, whether arising out of or relating to this Agreement, the breach of this Agreement, or otherwise, shall be settled by arbitration in 

  
 14 

 
Hamilton, Bermuda administered in accordance with the Arbitration Act 1986, and judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. The
arbitrator shall have the authority to award any remedy or relief that a court of competent jurisdiction could order or grant, including, without limitation, the issuance of an injunction. However, either party may, without inconsistency with this
arbitration provision, apply to any court having jurisdiction over such dispute or controversy and seek interim provisional, injunctive or other equitable relief until the arbitration award is rendered or the controversy is otherwise resolved.
Except as necessary in court proceedings to enforce this arbitration provision or an award rendered hereunder, or to obtain interim relief, neither a party nor an arbitrator may disclose the existence, content or results of any arbitration hereunder
without the prior written consent of the Company and the Executive. 
 7.8 Governing Law. This Agreement shall be
governed by, and construed and interpreted in accordance with, the internal laws of Bermuda, without regard to principles of conflict of laws. 
 7.9 No Mitigation; No Offset. The Executive shall not be required to mitigate damages or the amount of any payment provided for under this Agreement by seeking (and, without limiting the generality
of this sentence, no payment otherwise required under this Agreement shall be reduced on account of) other employment or otherwise, and payments under this Agreement shall not be subject to offset in respect of any claims which the Company may have
against the Executive. 
 7.10 Attorneys’ Fees. Each party to this Agreement will bear its own expenses in
connection with any dispute or legal proceeding between the parties arising out of the subject matter of this Agreement, including any proceeding to enforce any right or provision under this Agreement. 

7.11 Termination; Survivorship. This Agreement shall terminate upon the Executive’s separation from service with the Company,
except that the respective rights and obligations of the parties under this Agreement as set forth herein shall survive any termination of this Agreement to the extent necessary to the intended preservation of such rights and obligations.

 7.12 Severability. Other than Article V, to which Section 5.7 shall apply, whenever possible, each provision of
this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under applicable law or rule in any
jurisdiction, such invalidity, illegality or unenforceability shall not affect the validity, legality or enforceability of any other provision of this Agreement or the validity, legality or enforceability of such provision in any other jurisdiction,
but this Agreement shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein. 
 7.13 Other Agreements. Subject to the second sentence of this Section, the Executive represents and warrants to the Company that to the best of his knowledge, neither the execution and delivery of
this Agreement nor the performance of his duties hereunder violates or will violate the provisions of any other agreement to which he is a party or by which he is bound. 

  
 15 

 
The Executive represents that he has provided the Company with copies of any and all continuing covenants between the Executive and the Executive’s prior employers relating to the
Executive’s conduct in connection with or following termination of the Executive’s employment with such employer. The Company acknowledges that it is entering into this Agreement with knowledge of the terms of the Executive’s former
employment with Axis Specialty Limited (including the non-competition terms) that have been disclosed (but not any terms not so disclosed) by the Executive to the Company. 
 7.15 Company Obligations. The payment obligations of the Company under this Agreement may be satisfied by any subsidiary or affiliate of the Company for which the Executive provides services.

 7.16 Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an
original but all of which together will constitute one and the same instrument. 
 IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the date first written above. 
  

			
	ENDURANCE SPECIALTY HOLDINGS LTD.
		
	By:	 	/s/ John V. Del Col
	Name:	 	John V. Del Col
	Title:	 	General Counsel

  

			
		 	/s/ John R. Charman
		 	John R. Charman

  
 16

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