Document:

Exhibit 10.3.2 J Robert Bredahl Amendment No 2 to Employment Agreement

AMENDMENT No. 2 TO EMPLOYMENT AGREEMENT
THIS AMENDMENT No. 2 TO EMPLOYMENT AGREEMENT (“Amendment No. 1”), is entered into as of March 1, 2015, by and between Third Point Reinsurance Ltd., a Bermuda company (the “Company”), and J. Robert Bredahl (the “Executive”).
WHEREAS, the Company and the Executive entered into a certain Employment Agreement dated as of January 26, 2012 and an Amendment No. 1 to Employment Agreement dated as of November 10, 2014 (the “Employment Agreement”); and
WHEREAS, in consideration of the mutual agreements set forth below and for other good and valuable consideration given by each party to this Amendment No. 2 to the other, the receipt and sufficiency of which are hereby acknowledged, the Company and Executive agree to amend the Employment Agreement on the terms set forth below.
NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby agree as follows:
1.     Section 2(a) of the Employment Agreement shall be amended to read in its entirety as follows:
“2. Extent of Employment.
(a)Duties. , During the Employment Term and from and after March 1, 2015, the Executive shall serve as the President and Chief Operating Officer of the Company and the President and Chief Underwriting Officer of Third Point Reinsurance Company Ltd. In his capacity as President and Chief Operating Officer of the Company and President and Chief Underwriting Officer of Third Point Reinsurance Company Ltd., the Executive shall perform such duties, services, and responsibilities on behalf of the Company and Third Point Reinsurance Company Ltd. consistent with such position as may be reasonably assigned to the Executive from time to time by the Chief Executive Officer of the Company. In performing such duties hereunder for the Company, the Executive shall report directly to the Chief Executive Officer and in performing such duties hereunder for Third Point Reinsurance Company Ltd., the Executive shall report to the Board of Directors of Third Point Reinsurance Company Ltd.”
2.     Section 3(f) (i), Perquisites, of the Employment Agreement shall be amended to read as follows: 
“3 (f) Perquisites.
(i)    Housing. During the Employment Term and while the Executive’s principal place of employment is Bermuda, the Executive shall be entitled to a housing allowance in an amount equal to $6,500.00 per month.  In addition, the costs of electricity and cable incurred by the Executive shall be paid directly or reimbursed (as applicable) by the Company.  The Company shall reimburse the Executive for any income taxes incurred by the Executive as a result of any payment from the Company pursuant to this Section 3(f)(i) (including taxes imposed on the reimbursement payment itself). Any such reimbursement payments shall be made no later than twelve (12) months following the end of the fiscal year in which the related expense is incurred.”
1.    The parties hereto agree that except as specifically set forth in this Amendment No. 2, each and every provision of the Employment Agreement shall remain in full force and effect as set forth therein.
 [Signature Page Follows]

IN WITNESS WHEREOF, the Company has caused this Amendment No. 2 to be executed, and the Executive has hereunto set his hand, in each case effective as of the day and year first above written.
THIRD POINT REINSURANCE LTD.
By:        /s/ John R. Berger
__________________________________ 
Name:    John R. Berger
_______________________________ 
Title:    Chairman and Chief Executive Officer
________________________________

By:        /s/ Christopher S. Coleman
__________________________________ 
Name:   Christopher S. Coleman
_______________________________ 
Title:    Chief Financial Officer
________________________________

EXECUTIVE

/s/ J. Robert Bredahl

________________________________________ 
J. Robert BredahlExhibit 10.4.1 Danel V Malloy Amendment No1 to Employment Agreement

AMENDMENT No. 1 TO EMPLOYMENT AGREEMENT
THIS AMENDMENT No. 1 TO EMPLOYMENT AGREEMENT (the “Amendment No. 1”), is entered into as of April 1, 2015 by and between Third Point Reinsurance Ltd., a Bermuda company (the “Company”), and Daniel V Malloy (the “Executive”).
WHEREAS, the Company and the Executive entered into a certain Employment Agreement dated as of January 23, 2012 (the “Employment Agreement”); and
WHEREAS, in consideration of the mutual agreements set forth below and for other good and valuable consideration given by each party to this Amendment No. 1 to the other, the receipt and sufficiency of which are hereby acknowledged, the Company and Executive agree to amend the Employment Agreement on the terms set forth below;
NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby agree as follows:
1.    Section 3(a), Base Salary, of the Employment Agreement shall be amended to read as follows: 
“3 (a) Base Salary. With effect from April 1, 2015, during the Employment Term, in full consideration of the performance by the Executive of the Executive’s obligations hereunder (including any services as an officer, director, employee, or member of any committee of any affiliate of the Company, or otherwise on behalf of the Company), the Executive shall receive from the Company a base salary (the “Base Salary”) at an annual rate of $700,000 per year, payable in accordance with the normal payroll practices of the Company then in effect.”
2.     Section 3(f) (i), Perquisites, of the Employment Agreement shall be amended to read as follows: 
“3 (f) Perquisites.
(i)Housing. During the Employment Term and while the Executive’s principal place of employment is Bermuda, the Executive shall be entitled to a housing allowance in an amount equal to $8,150.00 per month. In addition, the costs of electricity, cable and internet incurred by the Executive shall be paid directly or reimbursed (as applicable) by the Company.  The Company shall reimburse the Executive for any income taxes incurred by the Executive as a result of any payment from the Company pursuant to this Section 3(f)(i) (including taxes imposed on the reimbursement payment itself). Any such reimbursement payments shall be made no later than twelve (12) months following the end of the fiscal year in which the related expense is incurred.”
1.    The parties hereto agree that except as specifically set forth in this Amendment No. 1, each and every provision of the Employment Agreement shall remain in full force and effect as set forth therein.
[Signature Page Follows]

IN WITNESS WHEREOF, the Company has caused this Amendment No. 1 to Employment Agreement to be executed, and the Executive has hereunto set his hand, in each case effective as of the day and year first above written.
THIRD POINT REINSURANCE LTD.
By:        /s/ John R. Berger
__________________________________ 
Name:    John R. Berger
_______________________________ 
Title:    Chairman and Chief Executive Officer
________________________________

By:        /s/ J. Robert Bredahl
__________________________________ 
Name:   J. Robert Bredahl 
_______________________________ 
Title:    President and Chief Operating Officer
________________________________

EXECUTIVE    

/s/ Daniel V. Malloy
________________________________________ 
Daniel V. MalloyExhibit 10.29 Amended and Restated Director Compensation Policy

Third Point Reinsurance Ltd. Director Compensation Policy 
The Compensation Committee of the Board of Directors (the “Board”) of Third Point Reinsurance Ltd. (the “Company”) has adopted the following compensation policy as of November 6, 2013, as amended and restated on May [5], 2015, for independent directors of the Company and its subsidiaries.  The compensation policy has been developed to compensate certain independent directors of the Company for their time, commitment and contributions to the Board and to the boards of director of any subsidiaries of the Company on which they serve.  This policy shall apply to directors of the Company who are not employees of the Company or any of its subsidiaries and who are not affiliated with KEP TP Holdings, L.P., KIA TP Holdings, L.P., Pine Brook LVR, L.P., Daniel S. Loeb, or any of their respective affiliates (each, an “Independent Director”).
		
	1.
	Director Compensation.  

(a)    Cash Compensation.  Independent Directors shall be paid a cash retainer of $100,000 per year (or $117,500, in the case of the chairman of the Audit Committee of the Board, or $125,000, in the case of the lead independent director of the Board), payable quarterly in arrears on or about March 31st, June 30th, September 30th and December 31st, for each calendar year of service on the Board.  Cash retainers for partial years of service shall be pro-rated to reflect the number of days served by an Independent Director during any such year.  The first payment made pursuant to this section shall be paid on or around December 31, 2013.  Board members will also be entitled to receive reimbursement for reasonable expenses that are incurred in connection with their functions as a director of the Company.  
(b)    Equity Based Compensation.  Each Independent Director shall receive an annual grant of $100,000 (or $117,500, in the case of the chairman of the Audit Committee of the Board, or $125,000, in the case of the lead independent director of the Board) worth of restricted shares of the Company, calculated based on the fair market value of a common share of the Company, par value US$0.10 per share, on the date on which such restricted shares are granted (the “Grant Date”).  Each annual restricted share grant shall typically be made on or around the date of the annual meeting of shareholders, except that the first annual grant (the “Initial Grant”) will be made on or about the date this policy is adopted by the Board.  Restricted share grants for partial years of service (other than the Initial Grant) shall be pro-rated to reflect the number of days served by an Independent Director during any such year and shall typically be made on or around the date on which the Independent Director begins his or her service on the Board.  Such restricted shares will be granted under and subject to the terms and conditions of the Third Point Reinsurance Ltd. 2013 Omnibus Incentive Plan (the “Plan”) and the applicable award agreement entered into between the Company and the Independent Director, including, without limitation, the vesting and forfeiture provisions contained therein.  Generally, such restricted shares shall vest on December 31 of the calendar year in which the grant is made (or, in the case of the Initial Grants, on December 31, 2014), subject to the Independent Director’s continued service on the Board through such vesting date. 
		
	2.
	This policy may be amended, revised or terminated by the Board at any time and from time to time.

Adopted November 6, 2013, and amended and restated on May 5, 2015.

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