Document:

EX-10.1

 Exhibit 10.1 

LETTER OF CREDIT FACILITY CANCELLATION LETTER 
  

	To:	Barclays Bank PLC as Agent 

  

	From:	Tower Insurance Company of New York 

 CastlePoint Insurance Company 

CastlePoint National Insurance Company 

Hermitage Insurance Company 

(together the “Companies”) 

5 December 2013 
 Dear Sirs 

LETTER OF CREDIT FACILITY AGREEMENT ENTERED INTO BETWEEN (1) TOWER INSURANCE COMPANY OF NEW YORK, (2) CASTLEPOINT INSURANCE COMPANY,
(3) CASTLEPOINT NATIONAL INSURANCE COMPANY, (4) HERMITAGE INSURANCE COMPANY (5) BARCLAYS BANK PLC AND BANK OF MONTREAL, LONDON BRANCH AS ISSUING BANKS, AND (6) BARCLAYS BANK PLC AS AGENT AND SECURITY AGENT DATED 11 NOVEMBER
2011 AS AMENDED ON 12 MARCH 2012, 16 JULY 2012, 21 NOVEMBER 2012, AMENDED AND RESTATED ON 7 MARCH 2013 AND AMENDED ON 2 MAY 2013 AND 22 OCTOBER 2013 (THE “FACILITY AGREEMENT”) 

We refer to the Facility Agreement. Terms defined in the Facility Agreement have the same meaning when used in this letter. 

 

	1.	VOLUNTARY CANCELLATION 

 The Company hereby gives irrevocable notice to the Agent of the
voluntary cancellation of the entirety of the Facility, such cancellation to take effect as of 5 December 2013. 
  

	2.	CONSENT AND WAIVER OF NOTICE 

 By countersigning this letter, the Agent acknowledges the
voluntary cancellation of the Facility. 
  

	3.	MISCELLANEOUS 

  

	3.1	This letter may be executed in counterparts all of which will, when read together, constitute one and the same document. 

  

	3.2	This letter and any non-contractual obligations arising out of or in connection with it shall be governed by English law and the parties submit to the jurisdiction of the English courts in the terms set out in clause 34
(Jurisdiction) of the Facility Agreement. 

  
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	Yours faithfully
	
	For and on behalf of
	TOWER INSURANCE COMPANY OF NEW YORK
		
	By:	 	 /s/ Vito A. Nigro

	Name:	 	Vito A. Nigro
	Title:	 	Managing Vice President and Treasurer
		
	By:	 	 /s/ David T. Uber

	Name:	 	David T. Uber
	Title:	 	VP Finance
	
	For and on behalf of
	CASTLEPOINT INSURANCE COMPANY
		
	By:	 	 /s/ Vito A. Nigro

	Name:	 	Vito A. Nigro
	Title:	 	Managing Vice President and Treasurer
		
	By:	 	 /s/ David T. Uber

	Name:	 	David T. Uber
	Title:	 	VP Finance
	
	For and on behalf of
	CASTLEPOINT NATIONAL INSURANCE COMPANY
		
	By:	 	 /s/ Vito A. Nigro

	Name:	 	Vito A. Nigro
	Title:	 	Managing Vice President and Treasurer
		
	By:	 	 /s/ David T. Uber

	Name:	 	David T. Uber
	Title:	 	VP Finance

  
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	For and on behalf of
	HERMITAGE INSURANCE COMPANY
		
	By:	 	 /s/ Vito A. Nigro

	Name:	 	Vito A. Nigro
	Title:	 	Managing Vice President and Treasurer
		
	By:	 	 /s/ David T. Uber

	Name:	 	David T. Uber
	Title:	 	VP Finance

  

	
	We agree to the terms of this letter.
	
	 /s/ Juana Huwaidi

	for and on behalf of
	BARCLAYS BANK PLC
	as Agent (acting on the instructions of the Issuing Banks)

  
 3EX-10.1

 Exhibit 10.1 

UNIT PURCHASE AGREEMENT 

This UNIT PURCHASE AGREEMENT (this “Agreement”) is made effective as of December 3, 2013, between SEADRILL PARTNERS LLC,
a Marshall Islands limited liability company (“Seller”), and SEADRILL LIMITED, a Bermuda exempted company (“Buyer”). 

RECITAL 
 Upon the terms
and subject to the conditions set forth herein, Seller desires to sell and Buyer desires to purchase 3,394,916 common units representing limited liability company interests of Seller (the “Units”) at the same per unit price and at the same
time as up to an aggregate of 12,880,000 common units of Seller being sold in connection with a public offering of common units pursuant to the Seller’s prospectus supplement dated December 3, 2013 (the “Public Sale”). 

AGREEMENT 
 NOW,
THEREFORE, for and in consideration of the foregoing premises and of the mutual covenants and agreements herein contained, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereby
agree as follows: 
  

	 	Section 1.	Purchase and Sale of the Units 

 1.1 Sale of the Units. Subject to the
terms and conditions of this Agreement, Buyer agrees to purchase from Seller, and Seller agrees to sell to Buyer, 3,394,916 Units in consideration of an aggregate payment of $100,150,022 (the “Purchase Price”) by Buyer; the per Unit
purchase price equal to the price per Unit to be paid by the public in the Public Sale. 
 1.2 Closing. The closing of the
transactions contemplated by this Agreement (the “Closing”) shall take place concurrently with the closing of the Public Sale pursuant to the Underwriting Agreement between the Seller, the underwriters name therein and the other parties
thereto (the “Underwriting Agreement”). 
 1.3 Closing Deliveries 

(a) At the Closing, Buyer shall deliver to Seller as consideration for the Units purchased by Buyer an acknowledgement of receipt of the
Purchase Price. 
 (b) At the Closing, Seller shall cause Seller’s transfer agent to record the ownership of the Units on the records
of the transfer agent in accordance with instructions from Buyer. 
 1.4 Closing Condition; Termination. Buyer’s
obligation to purchase the Units in accordance with this Agreement is subject to the closing of the Public Sale contemplated by the Underwriting Agreement. If the Underwriting Agreement is terminated or if it shall not be entered into prior to
December 31, 2013, this Agreement shall automatically terminate. 

	 	Section 2.	Representations and Warranties 

 2.1 Buyer’s Representations and
Acknowledgements. Buyer represents and warrants to Seller that: 
 (a) Buyer has all requisite power and authority to execute and
deliver this Agreement and to perform the transactions contemplated hereby and this Agreement is a valid and binding obligation of Buyer, enforceable against the Buyer in accordance with its terms; and 

(b) The Units are being acquired solely for the account of Buyer and not with a view to, or for resale in connection with, a distribution of
all or any part thereof. 
 Buyer acknowledges and understands that the Units have not been registered under the Securities Act of 1933, as
amended (the “1933 Act”), and therefore are subject to resale restrictions. Buyer agrees to the placement of a legend on any Unit certificate or on the records of the transfer agent to the effect that the Units may not be sold without
registration under the 1933 Act or pursuant to an exemption from registration. 
 2.2 Seller’s Representations. Seller
represents and warrants to Buyer that: 
 (a) Seller has all necessary power and authority to execute and deliver this Agreement and to
perform the transactions contemplated hereby and this Agreement is a valid and binding obligation of Seller, enforceable against Seller in accordance with its terms; 

(b) No consent, approval or authorization of any third party is required for consummation by Seller of the transactions contemplated by this
Agreement, and the execution and delivery of this Agreement and the performance of the transactions contemplated hereby do not violate, conflict with, or cause a default under any contract, agreement, document, or instrument, any law, rule,
regulation or any judicial or administrative decision to which Seller or the Units may be subject, or that would create a lien, security interest, encumbrance or restriction of any kind upon the Units; and 

(c) Upon the payment for the Units in accordance with the terms of this Agreement, good and marketable title to all of the Units, free and
clear of all mortgages, liens, security interests, pledges, charges, encumbrances or claims of any kind will be sold to and vest in Buyer. 

2.3 Survival; Indemnity. All representations and warranties made herein shall survive the Closing. Buyer agrees to indemnify and
hold Seller harmless from any and all losses, damages, claims, actions and proceedings, including any legal or other expenses, arising out of any breach of any representation or warranty made by the Buyer herein and Seller agrees to indemnify and
hold Buyer harmless from any and all losses, damages, claims, actions and proceedings, including any legal or other expenses, arising out of any breach of any representation or warranty made by the Seller herein. 

  
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	 	Section 3.	Further Assurances 

 Each party agrees to, at any time and from time to time, promptly
execute and deliver such further agreements, documents and instruments, and promptly take or forbear from taking such further actions as the other party may reasonably request in order to more effectively confirm or carry out the provisions of this
Agreement. 
  

	 	Section 4.	Miscellaneous 

 4.1 Entire Agreement. Each party hereto acknowledges that
this Agreement embodies the entire agreement and understanding between them with respect to the subject matter hereof and supersedes any prior agreements and understandings relating to the subject matter hereof. This Agreement may not be altered,
modified, terminated or discharged except by a writing signed by the party against whom such alteration, modification, termination or discharge is sought. 

4.2 Binding Nature. This Agreement shall be binding upon, and inure to the benefit of, the parties hereto and their respective
successors, heirs, personal representatives and assigns. 
 4.3 Governing Law. This Agreement shall be governed by and
construed under the laws of the state of New York. 
 4.4 Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall be deemed to be an original, and all of which, taken together, shall constitute one and the same instrument. Delivery of an executed signature page to this Agreement by facsimile transmission shall be as effective
as delivery of a manually signed counterpart hereof. 
 [Remainder of page intentionally left blank] 

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

			
	SELLER:
	
	SEADRILL PARTNERS LLC
		
	By:	 	 /s/ Graham Robjohns

	Name:	 	Graham Robjohns
	Title:	 	Chief Executive Officer
	
	BUYER:
	
	SEADRILL LIMITED
		
	By:	 	 /s/ Rune Magnus Lundetræ

	Name:	 	Rune Magnus Lundetræ
	Title:	 	Authorized Person

 SIGNATURE PAGE TO UNIT
PURCHASE AGREEMENT

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