Document:

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                                                                   Exhibit 10.7

                       AMENDMENT OF EMPLOYMENT AGREEMENT

      THIS AGREEMENT, made and entered into as of June 1, 1999 (the "Effective
Date"), by and between Clare Moran (the "Executive") and LaSalle Re Limited (the
"Company");

                               WITNESSETH THAT:

     WHEREAS, the parties have previously entered into an employment agreement
dated as of October 1, 1998, (the "Employment Agreement"); and

     WHEREAS, amendment of the Employment Agreement is now desirable to reflect
certain recommendations of the Compensation Committee;

     NOW, THEREFORE, it is hereby agreed by and between the Company and the
Executive that the following is substituted for paragraph 7 of the Employment
Agreement, effective June 1, 1999:

     "7. Non-competition. While the Executive is employed by LaSalle Re Limited,
and for a period of twelve months following the Executive's termination of
employment with LaSalle Re Limited, the Executive agrees that he or she will not
directly or indirectly perform services in a financial-related position in
Bermuda for a direct specialist reinsurance competitor of LaSalle Re Limited,
which competitor writes similar business to that of LaSalle Re Limited that is
of a predominantly property catastrophe nature. Nothing in this paragraph 7,
paragraph 8, or paragraph 9 shall be construed as limiting the Executive's duty
of loyalty to LaSalle Re Limited and the Holding Company while he or she is
employed by LaSalle Re Limited or any other duty he or she may otherwise have to
LaSalle Re Limited or the Holding Company while he or she is employed by LaSalle
Re Limited."

     IN WITNESS THEREOF, the Executive has hereunto set her hand, and the
Company has caused these presents to be executed in its name and on its behalf,
and its corporate seal to be hereunto affixed, all as of the day and year first
above written.

                                      /s/Clare Moran
                                      ------------------
                                      Clare Moran

                                      LaSalle Re Limited

                                      /s/Guy Hengesbaugh
                                      ------------------
                                      Guy Hengesbaugh

                                      Chief Executive Officer<PAGE>
                                                                    Exhibit 4.15

        DECLARATION OF TRUST, dated as of March 27, 2001 between Heller
Financial, Inc., a Delaware corporation, as Sponsor (the "Sponsor"), and BNY
Midwest Trust Company, as trustee (the "Property Trustee"), The Bank of New York
(Delaware), as trustee (the "Delaware Trustee"), and Kurt Roemer, as trustee
(the "Regular Trustee," and together with the Property Trustee and the Delaware
Trustee, the "Trustees"). The Sponsor and the Trustees hereby agree as follows:

        1. The Delaware business trust created hereby shall be known as "HFI
Trust I" (the "Trust"), in which name the Trustees, or the Sponsor to the extent
provided herein, may conduct the business of the Trust, make and execute
contracts, and sue and be sued.

        2. The Sponsor hereby assigns, transfers, conveys and sets over to the
Trust the sum of $10. The Trust hereby acknowledges receipt of such amount from
the Sponsor, which amount shall constitute the initial trust estate. It is the
intention of the parties hereto that the Trust created hereby constitute a
business trust under Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code
3801 et. seq. (the "Business Trust Act"), and that this document constitutes
the governing instrument of the Trust. The Trustees are hereby authorized and
directed to execute and file a certificate of trust with the Secretary of State
of the State of Delaware in the form attached hereto in accordance with the
provisions of the Business Trust Act. The trust is hereby established by the
Sponsor and the Trustees for the purposes of (i) issuing preferred securities
representing undivided beneficial interests in the assets of the Trust
("Preferred Securities") in exchange for cash and investing the proceeds thereof
in debt securities of the Sponsor, (ii) issuing and selling common securities
representing an undivided beneficial interest in the assets of the Trust
("Common Securities") to the Sponsor in exchange for cash and investing the
proceeds thereof in additional debt securities of the Sponsor and (iii) engaging
in such other activities as are necessary or incidental thereto.

        3. The Sponsor and the Trustees will enter into an Amended and Restated
Declaration of Trust, satisfactory to each such party and substantially in the
form included as an exhibit to the Securities Act Registration Statement
referred to below, to provide for the contemplated operation of the Trust
created hereby and the issuance of the Preferred Securities and Common
Securities referred to therein. Prior to the execution and delivery of such
Amended and Restated Declaration of Trust, the Trustees shall not have any duty
or obligation hereunder or with respect to the trust estate, except as otherwise
required by applicable law or as may be necessary to obtain prior to such
execution and delivery any licenses, consents or approvals required by
applicable law or otherwise.
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        4. The Sponsor, as the sponsor of the Trust, is hereby authorized (i) to
prepare and file with the Securities and Exchange Commission (the "Commission")
and execute, in each case on behalf of the Trust, (a) a Registration Statement
on Form S-3 or on such other form or forms as may be appropriate, including
without limitation any registration statement of the type contemplated by Rule
462(b) of the Securities Act of 1933, as amended (the "Securities Act") (any
such registration statement, whether on form S-3, another form or under Rule
462(b) being referred to herein as the "Securities Act Registration Statement"),
including any pre-effective or post-effective amendments to such Registration
Statement, relating to the registration under the Securities Act of the
Preferred Securities and certain other securities of the Sponsor and (b) if the
Sponsor shall deem it desirable, a Registration Statement on Form 8-A (the
"Exchange Act Registration Statement"), including all pre-effective and post-
effective amendments thereto, relating to the registration of the Preferred
Securities under Section 12 of the Securities Exchange Act of 1934, as amended;
(ii) if the Sponsor shall deem it desirable, to prepare and file with New York
Stock Exchange, Inc. or any other automated quotation system, exchange or over-
the-counter market (collectively, the "Exchanges") and execute on behalf of the
Trust a listing application or applications and all other applications,
statements, certificates, agreements and other instruments as shall be necessary
or desirable to cause the Preferred Securities to be listed on any Exchange;
(iii) to prepare and file and execute on behalf of the Trust such applications,
reports, surety bonds, irrevocable consents, appointments of attorney for
service of process and other papers and documents as the Sponsor, on behalf of
the Trust, may deem necessary or desirable to register the Preferred Securities
under the securities or "Blue Sky" laws of such jurisdictions as the Sponsor, on
behalf of the Trust, may deem necessary or desirable; (iv) to negotiate the
terms of and execute on behalf of the Trust an underwriting or other purchase
agreement among the Trust, the Sponsor and any underwriter(s), dealer(s) or
agent(s) relating to the Preferred Securities, as the Sponsor, on behalf of the
Trust, may deem necessary or desirable; and (v) to execute and deliver on behalf
of the Trust letters or documents to, or instructions for filing with, a
depository relating to the Preferred Securities. In the event that any filing
referred to in clauses (i)-(iii) above is required by the rules and regulations
of the Commission, any Exchange, the National Association of Securities Dealers,
Inc. or state securities or blue sky laws, to be executed on behalf of the Trust
by a Trustee, any natural person appointed pursuant to Section 6 hereof, in his
or her capacity as trustee of the Trust, and the Sponsor are hereby authorized
to join in any such filing and to execute on behalf of the Trust any and all of
the foregoing.

        5. This Declaration of Trust may be executed in one or more
counterparts.

                                       2
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        6. The number of Trustees initially shall be three (3) and thereafter
the number of Trustees shall be such number as shall be fixed from time to time
by a written instrument signed by the Sponsor that may increase or decrease the
number of Trustees; provided, however, that the number of Trustees shall in no
event be less than three (3); and provided further that to the extent required
by the Business Trust Act, one Trustee shall either be a natural person who is a
resident of the State of Delaware or, if not a natural person, an entity that
has its principal place of business in the State of Delaware and meets other
requirements imposed by applicable law. Subject to the foregoing, the Sponsor is
entitled to appoint or remove without cause any Trustee at any time. Any Trustee
may resign upon thirty days' prior notice to the Sponsor.

        7. The Trust may be dissolved and terminated at the election of the
Sponsor.

        8. This Declaration of Trust shall be governed by, and construed in
accordance with, the laws of the State of Delaware (without regard to conflict
of laws principles).

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        IN WITNESS WHEREOF, the parties hereto have caused this Declaration of
Trust to be duly executed as of the day and year first above written.

                                              HELLER FINANCIAL, INC.,
                                              as Sponsor

                                              By:   /s/ Judith McCoy
                                                 -------------------------------
                                            Name:   Judith McCoy
                                           Title:   Vice President and Assistant
                                                    Treasurer

                                              BNY MIDWEST TRUST COMPANY,
                                              as Property Trustee

                                              By:   /s/ D.G. Donovan
                                                   -----------------------------
                                            Name:   D.G. Donovan
                                           Title:   Assistant Vice President

                                              THE BANK OF NEW YORK (DELAWARE),
                                              as Delaware Trustee

                                              By:   /s/ William T. Lewis
                                                 -------------------------------
                                            Name:   William T. Lewis
                                           Title:   SVP

                                              KURT ROEMER,
                                              as Regular Trustee

                                                    /s/ Kurt Roemer
                                                 -------------------------------

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