Document:

EX-10.2

Exhibit 10.2

ALTERRA CAPITAL HOLDINGS LIMITED

2008 STOCK INCENTIVE PLAN

RESTRICTED STOCK AWARD AGREEMENT

This Restricted Stock Award Agreement (the “Agreement”) is made, effective as of the 1st day
of June, 2011 (the “Grant Date”), by and between Alterra Capital Holdings Limited (the “Company”)
and W. Marston Becker (the “Grantee”).

RECITALS:

WHEREAS, the Company has adopted the Alterra Capital Holdings Limited 2008 Stock Incentive
Plan (the “Plan”) pursuant to which awards of restricted common shares of the Company (“Common
Shares”) may be granted; and

WHEREAS, the Committee has determined that it is in the best interests of the Company and its
shareholders to grant the award of restricted Common Shares provided for herein (the “Restricted
Stock Award”) to the Grantee in recognition of the Grantee’s services to the Company, such grant to
be subject to the terms set forth herein.

NOW, THEREFORE, in consideration for the mutual covenants hereinafter set forth, the parties
hereto agree as follows:

	 	 	Grant of Restricted Stock Award. Pursuant to Section 9 of the Plan, the Company hereby
issues to the Grantee on the Grant Date a Restricted Stock Award consisting of, in the
aggregate, 100,000 Common Shares in the capital of the Company (hereinafter called the
“Restricted Stock”).

	 	 	Incorporation by Reference. The provisions of the Plan are hereby incorporated herein by
reference. Except as otherwise expressly set forth herein, this Agreement shall be construed
in accordance with the provisions of the Plan and any capitalized terms not otherwise defined
in this Agreement shall have the definitions set forth in the Plan. The Committee shall have
the authority to interpret and construe the Plan and this Agreement and to make any and all
determinations thereunder, and its decision shall be binding and conclusive upon the Grantee
and his/her legal representative in respect of any questions arising under the Plan or this
Agreement.

	 	 	Restrictions. Except as provided in the Plan or this Agreement, the Restricted Stock shall
be forfeited by the Grantee and all of the Grantee’s rights to such shares shall immediately
terminate without any payment or consideration by the Company in the event of any sale,
assignment, transfer, hypothecation, pledge or other alienation of such Restricted Stock made
or attempted, whether voluntary or involuntary, and if involuntary whether by process of law
in any civil or criminal suit, action or proceeding, whether in the nature of an insolvency or
bankruptcy proceeding or otherwise, without the written consent of the Board.

	 	 	Vesting.

	 	 	 	General. Except as otherwise provided herein, the restrictions described in Section
3 above will lapse with respect to 100% of the Restricted Stock on January 1, 2014 (the
“Vesting Date”); provided, that, except as otherwise provided herein,
the Grantee remains employed by the Company or any of its Subsidiaries through the
Vesting Date. If the Grantee’s employment is terminated at any time prior to the
Vesting Date, the unvested Restricted Stock shall automatically be forfeited without
consideration upon such cessation of service, unless otherwise provided in this Section
4.

Qualifying Termination. Upon the Grantee’s termination of employment due to
a Qualifying Termination (as defined below), the restrictions described in Section 3
above shall lapse with respect to 100% of the Restricted Stock as of the effective
date of such Qualifying Termination. If the Grantee’s employment is terminated
other than in connection with a Qualifying Termination, the unvested Restricted
Stock, if any, shall automatically be forfeited without consideration upon such
termination of employment.

For purposes hereof, a “Qualifying Termination” shall mean a termination of
Grantee’s employment with the Company due to (i) the Grantee’s death or Disability
(as defined below), (ii) termination by the Company without Cause (as defined below)
any time on or after January 1, 2012, (iii) termination by the Grantee for Good
Reason (as defined below) any time on or after January 1, 2012, (iv) expiration of
the Term (as defined below) or (v) termination due to Grantee’s Retirement (as
defined below). The terms “Disability”, “Cause”, “Good Reason”, “Term” and
“Retirement” shall have the respective meanings set forth in the employment
agreement between the Company and the Grantee dated as of June 1, 2011 (the
“Employment Agreement”).

	 	 	 	Change in Control. Unless otherwise determined by the Committee, the occurrence of
a Change in Control (as defined in the Plan) shall not result in accelerated vesting of
the Restricted Stock.

	 	 	Non-Solicitation. In consideration for the Restricted Stock Award granted pursuant to this
Agreement, the Grantee agrees that for a period of twelve (12) months following the
Grantee’s date of termination, the Grantee shall not, without the prior written permission of
the Company, directly or indirectly (1) solicit, employ or retain, or encourage or cause any
other person or entity to solicit, employ or retain, any person who (i) is employed or is
providing services to the Company or any of its Subsidiaries as of the date of termination or
(ii) is or was providing services to the Company or any of its Subsidiaries within the twelve
(12) month period prior to the Grantee’s date of termination, (2) encourage or cause any
employee of the Company or any of its Subsidiaries to breach or threaten to breach any terms
of such employee’s agreements with the Company or any of its Subsidiaries or to terminate such
employee’s employment with the Company or any of its Subsidiaries, (3) solicit business
from any persons or entities whom the Grantee knows or should know (xx) are current clients or
customers of the Company or any of its Subsidiaries, (yy) were customers or clients of the
Company or any of its Subsidiaries during the twelve (12) month period prior to the date of
termination, or (4) encourage or cause any clients or customers of the Company or any of its
Subsidiaries to cancel or terminate any business relationship with the Company or any of its
Subsidiaries. The Company’s sole remedy upon Grantee’s breach of this Section 5 shall be
that, if Grantee willfully and materially breaches the provisions of this Section 5, Grantee
shall forfeit the unvested portion, if any, of the Restricted Stock and, if vesting of the
Restricted Stock was previously accelerated pursuant to Section 4 and such breach occurred
prior to the Vesting Date (without regard to such acceleration), the Company shall be entitled
to recover from Grantee the Restricted Stock granted pursuant to this Agreement or the value
thereof.

	 	 	Tax Withholding. In the event that the Company determines that tax withholding is required
with respect to the Grantee, the Grantee shall be required to pay to the Company, and the
Company shall have the right to deduct from any compensation paid to the Grantee pursuant to
the Plan, the amount of any required withholding taxes in respect of the Restricted Stock
Award and to take such other action as the Committee deems necessary to satisfy all
obligations for the payment of such withholding and taxes. The Committee may permit the
Grantee to satisfy the withholding liability: (a) in cash, (b) by having the Company withhold
from the number of Common Shares otherwise issuable or deliverable pursuant to the settlement
of the Restricted Stock Award a number of shares with a Fair Market Value equal to the minimum
withholding obligation, (c) by delivering Common Shares owned by the Grantee that are Mature
Shares, or (d) by a combination of any such methods. For purposes hereof, Common Shares shall
be valued at Fair Market Value.

	 	 	Rights as Shareholder; Dividends. The Grantee shall be the record owner of the Restricted
Stock unless and until such Restricted Stock is sold or otherwise disposed of, and as record
owner shall be entitled to all rights of a shareholder of the Company, including, without
limitation, voting rights, if any, with respect to the Restricted Stock and the right to
receive dividends, if any, declared by the Company on its Common Shares.

	 	 	Compliance with Laws and Regulations. The issuance and transfer of Common Shares shall be
subject to compliance by the Company and the Grantee with all applicable requirements of
securities laws and with all applicable requirements of any stock exchange on which the Common
Shares may be listed at the time of such issuance or transfer.

	 	 	No Right to Continued Employment. Nothing in this Agreement shall be deemed by implication
or otherwise to impose any limitation on any right of the Company or any of its Subsidiaries
to terminate the Grantee’s employment at any time.

	 	 	Notices. All notices, demands and other communications provided for or permitted hereunder
shall be made in writing and shall be delivered by personal delivery, courier service,
registered or certified first class mail, return receipt requested, or facsimile:

If to the Company:

Alterra Capital Holdings Limited

Alterra House

2 Front Street

Hamilton HM 11

Bermuda

If to the Grantee, at the Grantee’s last known address on file with the Company.

All such notices, demands and other communications shall be deemed to have been duly given
when delivered by hand, if personally delivered; when delivered by courier, if delivered by
commercial courier service; five (5) business days after being deposited in the mail,
postage prepaid, if mailed; and when receipt is mechanically acknowledged, if sent by
facsimile.

	 	 	Bound by Plan. By signing this Agreement, the Grantee acknowledges that he/she has
received a copy of the Plan and has had an opportunity to review the Plan and agrees to be
bound by all of the terms and provisions of the Plan.

	 	 	Beneficiary. The Grantee may file with the Committee a written designation of a
beneficiary on such form as may be prescribed by the Committee and may, from time to time,
amend or revoke such designation. If no designated beneficiary survives the Grantee, the
beneficiary shall be deemed to be the Grantee’s spouse or, if the Grantee is unmarried at the
time of death, his or her estate.

	 	 	Successors. The terms of this Agreement shall be binding upon and inure to the benefit of
the Company, its successors and assigns, and on the Grantee and the beneficiaries, executors
and administrators, heirs and successors of the Grantee.

	 	 	Amendment of Restricted Stock Award. Subject to Section 15 of this Agreement, the
Committee at any time and from time to time may amend the terms of this Restricted Stock
Award; provided, however, the Grantee’s rights under this Restricted Stock
Award shall not be materially and adversely affected by any such amendment without the
Grantee’s consent.

	 	 	Adjustments. Pursuant to Section 12 of the Plan, the Committee in its sole discretion may
make adjustments to this Restricted Stock Award.

	 	 	Governing Law. This Agreement shall be governed by the laws of Bermuda.

	 	 	Interpretation. Any dispute regarding the interpretation of this Agreement shall be
submitted by the Grantee or the Company to the Committee for review. The resolution of such a
dispute by the Committee shall be binding and conclusive on the Company and the Grantee.

	 	 	Severability. Every provision of this Agreement is intended to be severable and any
illegal or invalid term shall not affect the validity or legality of the remaining terms.

	 	 	Headings. The headings of the Sections hereof are provided for convenience only and are
not to serve as a basis for interpretation of construction, and shall not constitute a part of
this Agreement.

	 	 	Signature in Counterparts. This Agreement may be signed in counterparts, each of which
shall be deemed an original, with the same effect as if the signatures thereto and hereto were
upon the same instrument.

[SIGNATURE PAGE FOLLOWS]

1

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

ALTERRA CAPITAL HOLDINGS LIMITED

By:

Name: Joseph W. Roberts

Title: Chief Financial Officer

GRANTEE

By:      

W. Marston Becker

2EX-10.1

FIRST AMENDMENT TO

PURCHASE AGREEMENT

THIS FIRST AMENDMENT TO PURCHASE AGREEMENT (this “Amendment”), dated as of May 31,
2011, is entered into between FERRO PFANSTIEHL LABORATORIES, INC. (the “Seller”) and FERRO
CORPORATION (the “Purchaser”).

RECITALS

1. The Purchaser and the Seller are parties to the Purchase Agreement, dated as of June 2,
2009 (as amended, supplemented or otherwise modified through the date hereof, the “Purchase
Agreement”).

2. Each of the parties hereto desires to amend the Purchase Agreement as hereinafter set
forth.

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

1. Certain Defined Terms. Capitalized terms that are used herein without definition
shall have the meanings set forth in the Purchase Agreement or in the Receivables Purchase
Agreement (as defined in the Purchase Agreement).

2. Amendments to the Purchase Agreement. The Purchase Agreement is hereby amended as
follows:

(a) Section 4.01(g) of the Purchase Agreement is hereby amended to delete the word
“may” and insert the phrase “could reasonably be expected to” in replacement thereof.

(b) Section 4.01(q) of the Purchase Agreement is hereby amended and restated in its
entirety as follows:

“(q) Seller has (i) timely filed all federal tax returns required to be filed, (ii)
timely filed all other material state and local tax returns (other than with respect to such
state and local tax returns for the tax year 2005, which have been filed prior to the date
hereof) and (iii) paid or made adequate provision for the payment of all taxes, assessments
and other governmental charges, other than (A) any tax, assessment or governmental charge
which is being contested in good faith and by proper proceedings, and with respect to which
the obligation to pay such amount is adequately reserved against in accordance with
generally accepted accounting principles or (B) where the failure to so file or pay could
not reasonably be expected to have a Material Adverse Effect. Seller will also pay when due
any taxes payable in connection with the Receivables originated by it, exclusive of taxes on
or measured by income or gross receipts of Purchaser and its assigns.”

(c) The following new Section to the Purchase Agreement is added immediately following
Section 4.01 thereof:

“SECTION 4.02. Ordinary Course. Each of the Seller and Purchaser represents
and warrants as to itself that each remittance of Collections by the Seller to the Purchaser
under this Agreement will have been (i) in payment of a debt incurred by the Seller in the
ordinary course of business or financial affairs of the Seller and the Purchaser and (ii)
made in the ordinary course of business or financial affairs of the Seller and the
Purchaser.”

(d) The second sentence of Section 5.01(i) of the Purchase Agreement is hereby amended
to delete the word “immediately” and insert the word “promptly” in replacement thereof.

3. Representations and Warranties. Each of the Seller and the Purchaser represents
and warrants that:

(a) Representations and Warranties. Immediately after giving effect to this
Amendment, each representation and warranty made by it in the Purchase Agreement and in the
other Transaction Documents is true and correct as of the date hereof (unless stated to
relate solely to an earlier date, in which case such representation or warranty was true and
correct as of such earlier date).

(b) Enforceability. The execution and delivery by such Person of this
Amendment, and the performance of each of its obligations under this Amendment and the
Purchase Agreement, as amended hereby, are within each of its corporate powers and have been
duly authorized by all necessary corporate action on its part. This Amendment and the
Purchase Agreement, as amended hereby, are such Person’s valid and legally binding
obligations, enforceable in accordance with its terms.

(c) No Default. Immediately after giving effect to this Amendment, no Event of
Termination or Incipient Event of Termination has occurred and is continuing.

In addition, each party hereto acknowledges that, on or about April 30, 2010, Ferro Color
merged with and into the Purchaser and that the Seller is the only “Seller” for purposes of the
Purchase Agreement.

4. Effect of Amendment. All provisions of the Purchase Agreement, as expressly
amended and modified by this Amendment, shall remain in full force and effect. After this
Amendment becomes effective, all references in the Purchase Agreement (or in any other Transaction
Document) to the “Purchase Agreement”, or to “hereof”, “herein” or words of similar effect
referring to the Purchase Agreement, shall be deemed to be references to the Purchase Agreement as
amended by this Amendment. This Amendment shall not be deemed, either expressly or impliedly, to
waive, amend or supplement any provision of the Purchase Agreement other than as set forth herein.

5. Conditions Precedent to Effectiveness. This Amendment shall become effective as
of the date hereof upon receipt by the Agent of each of the following, each in form and substance
satisfactory to the Agent:

(a) counterparts of that certain Amended and Restated Receivables Purchase Agreement,
dated as of the date hereof, by and among the parties thereto, together with evidence that
each of the conditions precedent to effectiveness set forth therein have been satisfied;

(b) counterparts of this Amendment duly executed by each of the parties hereto; and

(c) such other documents, agreements, instruments, and opinions as the Administrator
may request in connection with this Amendment.

6. Counterparts. This Amendment may be executed in any number of counterparts and by
different parties on separate counterparts, each of which when so executed shall be deemed to be an
original and all of which when taken together shall constitute but one and the same instrument.
Delivery by facsimile or email of an executed signature page of this Amendment shall be effective
as delivery of an executed counterpart hereof.

7. Governing Law. This Amendment shall be governed by, and construed in accordance
with, the internal laws of the State of New York (without regard to any otherwise applicable
principles of conflicts of law).

8. Section Headings. The various headings of this Amendment are included for
convenience only and shall not affect the meaning or interpretation of this Amendment, the Purchase
Agreement, any other Transaction Document or any provision hereof or thereof.

[Signature pages follow.]

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

FERRO PFANSTIEHL LABORATORIES, INC.,

as Seller

By:   /s/ John T. Bingle

Name: John T. Bingle

Title: Treasurer

FERRO CORPORATION,

as Purchaser

By:   /s/ John T. Bingle

Name: John T. Bingle

Title: Treasurer

	 	 	 
	ACKNOWLEDGED AND AGREED:

	FERRO CORPORATION,

	as Collection Agent

	By:

	 	/s/ John T. Bingle
	
 
	 	 

	 	 	Name:
John T. Bingle

Title: Treasurer

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