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                                                                    Exhibit 10.2

                    AMENDED AND RESTATED EMPLOYMENT AGREEMENT

          THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (the "Amended
Employment Agreement") is made as of November 11, 2005, to be effective as of
the date hereof, by and between DARWIN PROFESSIONAL UNDERWRITERS, INC., a
Delaware corporation (the "Company"), and MARK I. ROSEN (the "Executive").

          WHEREAS, prior to the date hereof, the Executive has been employed as
Senior Vice President of the Company pursuant to an Employment Agreement dated
as of May 18, 2004 by and among the Executive, the Company and, for purposes of
joining in certain provisions thereof, Alleghany Insurance Holdings LLC ("AIHL,"
and such Employment Agreement, the "Employment Agreement"); and

          WHEREAS, AIHL is the sole stockholder of Darwin Group, Inc., a
Delaware corporation ("Darwin Group"); and

          WHEREAS, AIHL intends to contribute $135,000,000 to the capital of
Darwin Group (the "Capital Contribution") and, subsequent to the Capital
Contribution, to contribute Darwin Group to the Company, which contribution may
take the form of a merger of Darwin Group with and into the Company, with the
Company as the surviving corporation in the merger, or, alternatively, the
exchange of shares of common stock of Darwin Group owned by AIHL for shares of
Series B Preferred Stock of the Company, all as provided in the Contribution and
Exchange Agreement by and among the Company, Darwin Group and AIHL (the
"Contribution Agreement"), a copy of which is attached hereto as Exhibit A; and

          WHEREAS, in connection with the Capital Contribution and the
contribution of Darwin Group to the Company, the Company and the Executive
mutually desire to enter into this Amended Employment Agreement to provide for
the modifications of the terms of the Employment Agreement as are set forth
herein and to set forth certain additional agreements between the Executive and
the Company; and

          WHEREAS, since AIHL has no continuing obligations to the Company or to
the Executive under the terms of this Amended Employment Agreement, each of the
Company and the Executive is willing to release AIHL from all of its obligations
under the Employment Agreement;

          NOW, THEREFORE, in consideration of the mutual covenants and
representations contained herein, the Company and the Executive hereby agree as
follows:

     1.   Employment Period.

          The Company will employ the Executive, and the Executive will serve
the Company, under the terms of this Amended Employment Agreement for a period
beginning as of the date hereof and terminating on July 28, 2007 (the "Initial
Term Expiration Date"), unless such period shall have been earlier terminated in
accordance with the terms hereof. Following July 28, 2007, the term of the
Executive's employment hereunder shall automatically be renewed for renewal
terms of one year each, unless either the Company or the Executive gives written

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notice of non-renewal of the Executive's employment at least ninety days prior
to the end of the initial term or any subsequent renewal term. The period of the
Executive's employment hereunder, including any renewal term, is referred to
herein as the "Employment Period".

     2.   Duties and Status.

          (a) The Company hereby engages the Executive as a full-time executive
employee for the Employment Period, and the Executive accepts such employment,
on the terms set forth in this Amended Employment Agreement. The Executive shall
serve as Senior Vice President of the Company and as a member of the Board of
Directors of the Company. During the Employment Period, the Executive shall
exercise such authority and perform such executive duties and functions, and
discharge such responsibilities, as are assigned to him by the President and
Chief Executive Officer of the Company,

          (b) During the Employment Period, the Executive shall devote his full
business time and efforts to the business of the Company and accept such
additional office or offices to which he may be elected by the Board of
Directors of the Company (the "Board of Directors"), provided that the
performance of the duties of such office or offices shall be consistent with the
scope of the duties provided for in Section 2(a) hereof.

          (c) If requested by the President and Chief Executive Officer of the
Company, the Executive shall also serve, without additional compensation, as an
officer and/or director of any or all of the Subsidiaries of the Company.

          (d) Nothing in this Amended Employment Agreement shall preclude the
Executive from devoting reasonable periods of time required for engaging in
charitable, religious, civic and community activities, provided that such
activities do not interfere with his duties hereunder.

     3.   Compensation.

          (a) Base Salary. During the Employment Period, the Company will pay to
the Executive, as compensation for the performance of his duties and obligations
hereunder, a base salary at the rate of $318,270 per annum, subject to normal
withholding and other taxes, payable in arrears not less frequently than monthly
in accordance with the normal payroll schedule of the Company. Such base salary
will be subject to review prior to January 1 of each year for possible increase
by the Compensation Committee of the Board of Directors (the "Compensation
Committee"), but shall in no event be decreased from its then existing level
during the Employment Period.

          (b) Annual Bonus Plan. The Company has established and will maintain
an annual incentive compensation plan in which the Executive does and will
continue to participate. Under such plan, the Executive is eligible to receive
an annual bonus with a target of not less than 50% of the Executive's base
salary for each such year of employment, commencing on January 1 of each year.
The amount of each target annual bonus paid to the Executive will depend upon
the extent to which, in the judgment of the Compensation Committee, the Company

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and the Executive have achieved reasonable performance objectives previously
established and mutually agreed to by the Executive and the Compensation
Committee.

          (c) Long-Term Incentive Plan. The Company has established and will
maintain a long-term incentive plan (the "LTIP") for the Executive and other
officers nominated by the Executive and approved by the Board of Directors or
Compensation Committee (including the Executive, the "LTIP Participants"). The
LTIP consists of interests in successive annual profit pools established for
each calendar year (each such profit pool, a "Profit Pool," and each such year,
a "Profit Pool Year").

          It is the intention of the Company that 100% of the interests in each
Profit Pool established under the LTIP shall be awarded for each Profit Pool
Year. The Executive shall be entitled to receive an interest of 15% in the
Profit Pool for each full Profit Pool Year for which the Executive serves as
Senior Vice President of the Company; provided, however, that in the event that,
for any Profit Pool Year during the Employment Period, the interest of the
President and Chief Executive Officer of the Company in the Profit Pool for such
Profit Pool Year is increased above 40% or decreased below 40%, the Executive's
interest in the Profit Pool shall be increased or decreased by a proportionate
amount (for example, if the interest of the President and Chief Executive
Officer in a Profit Pool were increased from 40% to 50%, then the Executive's
interest in the Profit Pool would be increased from 15% to 18.75%).

          The Executive consents to the amendment and restatement of the LTIP in
the form attached hereto as Exhibit B.

     4.   Employee Benefits.

          During the Employment Period, the Executive will be entitled to
participate in the employee benefit plans and programs of the Company to the
extent that his position, tenure, salary, age, health and other qualifications
make him eligible to participate. Such plans and programs shall include all
life, accident, disability and health insurance plans of the Company, all
pension plans of the Company, and any other similar plans and programs of the
Company, as in existence at any time during the Employment Period (including the
initial term and any renewal term). The Executive will be entitled to four weeks
vacation time during each calendar year in which he is employed hereunder.

     5.   Restricted Stock.

          The Executive has received a grant of 5,000 shares of restricted stock
of the Company (representing, as of the date of this Amended Employment
Agreement, 1% of the outstanding shares of common stock of the Company),
pursuant to a restricted stock plan (the "Restricted Stock Plan") established by
the Company for the benefit of the Executive and other officers nominated by the
President and Chief Executive Officer and approved by the Board of Directors or
the Compensation Committee. Such shares of restricted stock were granted to the
Executive pursuant to a restricted stock award agreement (the "Restricted Share
Agreement").

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          The Executive consents to the amendment and restatement of the
Restricted Stock Plan in the form attached hereto as Exhibit C and to the
amendment and restatement of the Restricted Share Agreement in the form attached
hereto as Exhibit D.

     6.   Consent.

          The Executive consents to the terms of the Contribution Agreement, a
copy of which is attached hereto as Exhibit A, including without limitation the
terms and conditions of Section 2 (Darwin Group Transfer; Exchange of DPUI
Common Stock), Section 4 (Related Party Transactions) and Section 6 (Certain
Activities) thereof, and the terms and conditions set forth on Exhibit C
thereto.

     7.   Termination of Employment.

          (a) Termination for Cause. The Executive's employment with the Company
may be terminated for "cause," which is defined to mean the following:

               (i) the commission by the Executive of gross misconduct in
     connection with the performance of any of the Executive's duties;

               (ii) willful failure by the Executive to implement reasonable
     directives of the President and Chief Executive Officer of the Company,
     after written notice of such failure to the Executive, which failure is not
     corrected within 10 days following delivery of such written notice; or

               (iii) the Executive's conviction of a felony.

          (b) Termination for Good Reason. The Executive shall have the right at
any time to terminate his employment with the Company for any reason. The
termination of the Executive's employment shall be deemed to be for "good
reason" if and only if such termination shall be the result of:

               (i) a material reduction, without the Executive's consent, of the
     Executive's responsibilities;

               (ii) relocation of the principal executive offices of the
     Company, without the Executive's consent, to a location more than 25 miles
     from their current location in Farmington, Connecticut;

               (iii) termination by any of the Capitol Companies, prior to
     December 31, 2007, of the fronting arrangements currently in place between
     the Capitol Companies and the insurance company subsidiaries of Darwin
     Group;

               (iv) a material breach by the Company in the performance of any
     of its obligations under this Amended Employment Agreement (including its
     obligation to cause any successor to assume the obligations of the Company
     hereunder as provided in Section 15 hereof), after written notice of such
     breach to the President and Chief

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     Executive Officer of the Company, which breach is not corrected within 10
     days following delivery of such written notice; or

               (v) the Company's delivery to the Executive of written notice of
     nonrenewal of the Executive's employment upon the expiration of the initial
     term or any renewal term (provided that, unless otherwise agreed by the
     Company, termination by the Executive of his employment following the
     Company's delivery of such notice of non-renewal shall be deemed to be for
     "good reason" pursuant to this clause (v) only if the Executive remains in
     the employment of the Company until the expiration of the initial term or
     such renewal term, as the case may be).

          (c) Consequences of Termination Without Cause or for Good Reason. In
the event of a termination of the Executive's employment during the Employment
Period (x) by the Company, which termination is not a termination for "cause"
(as defined above) or (y) by the Executive for "good reason" (as defined above),
and provided that such termination is not by reason of death, Retirement (as
defined in Section 7(d) hereof) or Disability (as defined in Section 7(d)
hereof), then (i) the Executive shall be entitled to continued payment of base
salary for a period of 12 months following the date of termination, (ii) the
Executive shall be entitled to payment of his target annual bonus for the year
in which the date of termination occurs, such payment to be made at the time
other officers of the Company receive bonus payments in respect of such year,
(iii) the Executive shall be entitled to a Medical Coverage Subsidy (as defined
under Section 7(l) below), (iv) all LTIP interests held by the Executive shall
fully and immediately vest, with payouts to the Executive in respect of his
interests in outstanding Profit Pools thereunder to be made at the times, in the
amounts and in the manner provided in the LTIP for payments to other LTIP
Participants whose employment with the Company is continuing, (v) all shares of
restricted stock previously awarded to the Executive shall fully and immediately
vest, and (vi) following the determination of Fair Market Value in accordance
with the provisions of the Restricted Stock Plan and the Restricted Share
Agreement, the Executive shall sell to the Company, and the Company shall
purchase from the Executive, all shares of restricted stock which have vested as
of the date of termination (including shares of restricted stock which have
vested by reason of such termination), and any other shares of common stock of
the Company which may then be owned by the Executive; provided, however, that
the provisions of this Section 7(c)(vi) shall not apply if an IPO has occurred
prior to the date of such termination of the Executive's employment hereunder.

          (d) Termination Upon Death, Retirement or Disability. The Employment
Period shall be terminated by the death of the Executive. The Employment Period
may be terminated by the Executive by reason of the Executive's retirement
("Retirement") at any time on or after December 31, 2007. The Employment Period
may be terminated by the Board of Directors if the Executive is unable to
discharge his duties hereunder due to physical or mental illness for one or more
periods totaling six months during any consecutive twelve-month period
("Disability").

          (e) Consequences of Termination Upon Death or Disability. In the event
of a termination of the Executive's employment during the Employment Period by
reason of the Executive's death or Disability (as defined above), then (i) the
Executive shall be entitled to continued payment of base salary through the date
of termination, (ii) the Executive shall not be

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entitled to any payment of annual bonus provided for in Section 3(b) above in
respect of the year in which the date of termination occurs, (iii) the Executive
shall be entitled to receive payouts in respect of all LTIP interests held by
the Executive which have vested at the date of termination, such payouts to the
Executive in respect of his interests in outstanding Profit Pools thereunder to
be made at the times, in the amounts and in the manner provided in the LTIP for
payments to other LTIP Participants whose employment with the Company is
continuing, (iv) all LTIP interests held by the Executive which have not vested
at the date of termination shall be forfeited, (v) all shares of restricted
stock previously awarded to the Executive shall fully and immediately vest, and
(vi) following the determination of Fair Market Value in accordance with the
provisions of the Restricted Stock Plan and the Restricted Share Agreement, the
Executive shall sell to the Company, and the Company shall purchase from the
Executive, all shares of restricted stock which have vested as of the date of
termination (including shares of restricted stock which have vested by reason of
such termination), and any other shares of common stock of the Company which may
then be owned by the Executive; provided, however, that the provisions of this
Section 7(e)(vi) shall not apply if an IPO has occurred prior to the date of
such termination of the Executive's employment hereunder. In addition to the
foregoing, in the event of a termination of the Executive's Employment Period
during the Employment Period by reason of the Executive's Disability (as defined
above), the Company shall provide a Medical Coverage Subsidy (as defined under
Section 7(1) below).

          (f) Consequences of Termination Upon Retirement. In the event of a
termination of the Executive's employment during the Employment Period by reason
of the Executive's Retirement (as defined above), then (i) the Executive shall
be entitled to continued payment of base salary through the date of termination,
(ii) the Executive shall not be entitled to any payment of annual bonus provided
for in Section 3(b) above in respect of the year in which the date of
termination occurs (unless the date of Retirement is December 31, in which case
the Executive will be entitled to an annual bonus for the year in which he
retires), (iii) all LTIP interests held by the Executive in Profit Pools for
Profit Pool Years ending on or prior to the date of termination shall fully and
immediately vest, with payouts to the Executive in respect of his interests in
such outstanding Profit Pools to be made at the times, in the amounts and in the
manner provided in the LTIP for payments to other LTIP Participants whose
employment with the Company is continuing, (iv) all shares of restricted stock
previously awarded to the Executive shall fully and immediately vest, and (v)
following the determination of Fair Market Value in accordance with the
provisions of the Restricted Stock Plan and the Restricted Share Agreement, the
Executive shall sell to the Company, and the Company shall purchase from the
Executive, all shares of restricted stock which have vested as of the date of
termination (including shares of restricted stock which have vested by reason of
such termination), and any other shares of common stock of the Company which may
then be owned by the Executive; provided, however, that the provisions of this
Section 7(f)(v) shall not apply if an IPO has occurred prior to the date of such
termination of the Executive's employment hereunder. Following a termination of
the Executive's employment hereunder by reason of Retirement, the Executive and
the Company may, but shall not be required to, mutually agree that the Executive
will continue to provide services to the Company on a part-time basis, with the
Executive's compensation and benefit package for such post-Retirement service to
be agreed by the Company and the Executive. The parties presently contemplate
that, during any such period of post-Retirement service, the Executive would, to
the extent permitted by the Company's group

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medical insurance policy (and, unless otherwise agreed, at the Executive's
expense), be permitted to maintain coverage under the Company's group medical
insurance policy.

          (g) Other Terminations of Employment. In the event that the
Executive's employment with the Company is terminated by the Company for "cause"
(as defined above) or by the Executive other than for "good reason" (as defined
above), and provided that such termination is not as a result of death,
Retirement (as defined above) or Disability (as defined above), then (i) the
Executive shall be entitled to continued payment of base salary through the date
of termination, (ii) the Executive shall not be entitled to any payment of
annual bonus provided for in Section 3(b) above in respect of the year in which
the date of termination occurs, (iii) all LTIP interests held by the Executive,
whether vested or unvested, shall be forfeited, (iv) all shares of restricted
stock previously awarded to the Executive which have not vested at the date of
termination shall be forfeited, and (v) the Executive shall sell to the Company,
and the Company shall purchase from the Executive, all of the shares of
restricted stock previously awarded to the Executive which have vested at the
date of termination, and any other shares of common stock of the Company which
may then be owned by the Executive, at a price per share equal to the GAAP Book
Value of one share of common stock of the Company as of the Determination Date,
with such sale to occur promptly following the Determination Date, as determined
in accordance with the provisions of the Restricted Stock Plan and the
Restricted Share Agreement; provided, however, that the provisions of this
Section 7(g)(v) shall not apply if an IPO has occurred prior to the date of such
termination of the Executive's employment hereunder.

          (h) Change of Control Event. In the event of a Change of Control
Event, (i) all LTIP interests held by the Executive shall fully and immediately
vest on the date of such Change of Control Event, with payouts to the Executive
in respect of his interests in outstanding Profit Pools thereunder to be made at
the times, in the amounts and in the manner provided in the LTIP for payments to
other LTIP Participants whose employment with the Company is continuing (whether
or not the Executive elects to terminate the Employment Period in connection
with such Change of Control Event as provided in the succeeding sentence of this
Section 7(h)), and (ii) all shares of restricted stock previously awarded to the
Executive shall fully and immediately vest. In addition, in connection with the
occurrence of a Change of Control Event, the Executive shall have the right to
terminate the Employment Period, such termination to be effective on the date of
such Change of Control Event, and, in the event that the Executive elects to
terminate the Employment Period, (i) the Executive shall be entitled to
continued payment of base salary through the date of termination and (ii) the
Executive shall be entitled to receive payment, on the date of such Change of
Control Event, of an amount equal to (x) (A) his target annual bonus provided
for in Section 3(b) above in respect of the year in which the date of
termination occurs multiplied by (B) the number of days elapsed between January
1 of such year and the date of such Change of Control Event, divided by (y) 365.
The Executive shall not be entitled to any other payments or benefits hereunder
in connection with such a termination.

          (i) No Mitigation. Following termination of the Executive's employment
with the Company, the Executive shall be under no obligation to seek
re-employment and there shall be no offset against amounts due the Executive
under this Amended Employment

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Agreement on account of any remuneration attributable to any subsequent
employment that he may obtain.

          (j) Nature of Payments. Any amounts due under this Section 7 are in
the nature of severance payments considered to be reasonable by the Company and
are not in the nature of a penalty.

          (k) Section 409A. Notwithstanding any other provision of this Amended
Employment Agreement to the contrary, in the event that any amounts of
compensation payable or benefits provided under this Amended Employment
Agreement upon the termination of the employment of the Executive are considered
as the deferral of compensation pursuant to a "nonqualified deferred
compensation plan" within the meaning of Section 409A of the Code, then this
Amended Employment Agreement shall be construed, and such compensation shall be
payable or benefits provided, so that this Amended Employment Agreement and the
payment of such compensation or benefits satisfies the requirements of Section
409A(2), (3) and (4) of the Code. The Company and the Executive shall use their
reasonable best efforts to mutually agree, prior to December 31, 2006, to such
reasonable amendments to this Amended Employment Agreement requested by the
Executive as to the time of payment (which time shall not be earlier than the
time presently provided herein) of any amounts of compensation payable or
benefits to be provided upon the termination of employment of the Executive so
as to conform this Amended Employment Agreement with the requirements of Section
409A and Proposed Treasury Regulations Sections 1.409A-1 et seq. The Company
shall have no liability either for any delay in the payment of any compensation
or the provision of any benefit (and it shall not be a breach of this Amended
Employment Agreement) that the Company reasonably believes is required by the
provisions of this Section 7(k) or for paying any amount of compensation or
providing any benefit that the Company reasonably believes will not violate the
requirements of Section 409A(2), (3) and (4) of the Code; provided, however,
that in the event of any such delay in the payment of compensation, the Company
shall pay interest on the amount of the payment so delayed, until the date of
payment, at a rate per annum equal to the 90-day U.S. Treasury rate.

          (l) Medical Coverage Subsidy. If the Executive becomes entitled to a
"Medical Coverage Subsidy" under either Section 7(c) or Section 7(e) above, the
Company shall pay on the Executive's behalf (i) the monthly COBRA premium under
its group medical plans (the "Medical Plans") applicable to the Executive, his
spouse and dependents for the twelve-month period immediately following the
Executive's employment termination and (ii) a tax gross-up payment on each
monthly COBRA premium payable at the same time as each monthly COBRA premium.
The tax gross up payment under this Section 7(l) shall be an amount such that,
after payment of all federal, state and local income and employment taxes on
such amount (assuming that the Executive is subject to tax at the highest
marginal tax rates), there remains a balance sufficient to pay the taxes being
reimbursed. Notwithstanding the foregoing, if the Company is able to arrange for
direct payment of the medical insurance premiums of the Executive, his spouse
and dependents under the Company's medical plans for the twelve-month period in
which he would be entitled to a Medical Coverage Subsidy under either Section
7(c) or Section 7(e) above in a manner that does not result in taxable income to
the Executive, the Company shall be entitled to make such direct payment in such
alternative manner and no tax gross up payment shall be required.

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     8.   Excise Tax.

          If any payments, rights or benefits (whether pursuant to the terms of
this Amended Employment Agreement or any other plan, arrangement or agreement
between the Executive and the Company or any Affiliate of the Company) (the
"Payments") received or to be received by Executive will be subject to the tax
(the "Excise Tax") imposed by Section 4999 of the Code (or any similar tax that
may hereafter be imposed), then the Company shall pay to Executive an amount in
addition to the Payments (the "Gross-Up Payment") as calculated below. The Gross
Up Payment shall be in an amount such that, after deduction of any Excise Tax on
the Payments and any federal, state and local income and employment tax and
Excise Tax on the Gross Up Payment, but before deduction for any federal state
or local income and employment tax on the Payments, the net amount retained by
the Executive shall be equal to the Payments. The process for calculating the
Excise Tax, determining the amount of any Gross-Up Payment and other procedures
relating to this Section 8 are set forth in Exhibit E attached hereto. For
purposes of making the determinations and calculations required herein, the
Accounting Firm (as defined in Exhibit E) may rely on reasonable, good faith
interpretations concerning the application of Section 280G and Section 4999 of
the Code, provided that the Accounting Firm shall make such determinations and
calculations on the basis of "substantial authority" (within the meaning of
Section 6662 of the Code) and shall provide opinions to that effect to both the
Company and to the Executive.

     9.   Certain Definitions.

          "Affiliate," when used with reference to any Person, shall mean
another Person that directly, or indirectly, through one or more intermediaries,
controls or is controlled by or is under common control with the Person
specified. The term "control" (including the terms "controlled by" and "under
common control with") means the ability, directly or indirectly, to direct or
cause the direction of the management and policies of the Person in question.

          "Alleghany" means Alleghany Corporation.

          "Capitol Companies" means, collectively, Capitol Indemnity
Corporation, Capitol Specialty Insurance Corporation, and Platte River Insurance
Company.

          "Change of Control Event" means (i) prior to an IPO, (x) the
occurrence of any Person, other than Alleghany or an Affiliate of Alleghany,
owning directly or indirectly more than 50% of the outstanding voting securities
(weighted by voting power) of the Company, or (y) a sale of more than 50% of the
total gross fair market value of the assets of the Company to any Person other
than Alleghany or an Affiliate of Alleghany, and (ii) subsequent to an IPO, (x)
the occurrence of any Person or Group, other than Alleghany or an Affiliate of
Alleghany, owning directly or indirectly more than 50% of the outstanding voting
securities (weighted by voting power) of the Company, or (y) a sale of more than
50% of the total gross fair market value of the assets of the Company to any
Person or Group other than Alleghany or an Affiliate of Alleghany.

          "Code" means the Internal Revenue Code of 1986, as amended, and the
regulations promulgated thereunder by the U.S. Treasury Department, as amended
from time to time.

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          "Determination Date" means (i) the last day of the second calendar
year following the date of termination of Executive's employment, if the date of
termination is on or prior to June 30, and (ii) the last day of the third
calendar year following the date of termination of Executive's employment, if
the date of termination is on or after July 1.

          "Fair Market Value" means Fair Market Value as determined in
accordance with the provisions of the Restricted Stock Plan and the Restricted
Share Agreement.

          "GAAP Book Value" means GAAP Book Value as determined in accordance
with the provisions of the Restricted Stock Plan and the Restricted Share
Agreement.

          "Group" has the meaning set forth in Rule 13d-5 under the Securities
Exchange Act of 1934, as amended, as of the date hereof; provided, however, that
no Person (including without limitation Alleghany and any Affiliate of
Alleghany) who holds shares of Series B Preferred Stock, or who holds shares of
common stock of the Company acquired upon conversion of shares of Series B
Preferred Stock, shall be deemed to be a member of a Group, notwithstanding such
Person's being party to a voting agreement or any other agreement with other
Persons who are holders of shares of Series B Preferred Stock or of shares of
common stock of the Company acquired upon conversion of shares of Series B
Preferred Stock.

          "IPO" means the initial public offering of Company Common Stock
pursuant an effective registration statement under the Securities Act of 1933,
as amended, in connection with which the Company Common Stock becomes listed on
a U.S. national securities exchange or traded on the Nasdaq National Market
System.

          "Person" shall mean any natural person, corporation, partnership,
limited partnership, limited liability company, joint venture, firm,
association, trust, unincorporated organization, government or governmental
agency or any other entity.

          "Series B Preferred Stock" means the shares of Series B Convertible
Preferred Stock of the Company, par value $0.10 per share.

          "Subsidiary" means, with respect to any Person, (i) a corporation of
which shares of stock having ordinary voting power (other than stock having such
power only by reason of the happening of a contingency) to elect a majority of
the board of directors or other managers of such corporation are at the time
owned, directly or indirectly, through one or more intermediaries, by such
Person, or (ii) in the case of unincorporated entities, any such entity with
respect to which such Person has the power, directly or indirectly, to designate
more than 50% of the individuals exercising functions similar to a board of
directors.

     10.  Representations; Release of AIHL.

          (a) The Executive represents and warrants to the Company that he is
not subject to or bound by any agreement that would affect his ability to enter
into this Amended Employment Agreement, to serve as Senior Vice President of the
Company, to serve as a member of the Board of Directors of the Company, to serve
as an officer or director of any

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Subsidiary of the Company, or to solicit executives for employment by the
Company, and that this Amended Employment Agreement has been duly executed and
delivered by the Executive.

          (b) The Company represents and warrants to the Executive that this
Amended Employment Agreement has been duly authorized, executed and delivered by
it.

          (c) Each of the Company and the Executive hereby consents, and agrees
to the full release and discharge of AIHL from all of the obligations of AIHL
under the Employment Agreement.

     11.  Noncompetition; Nondisclosure; Nonsolicitation.

          The Company and the Executive agree that the services rendered by the
Executive hereunder are unique and irreplaceable. The Executive hereby agrees
that he will not, during the Employment Period (including the initial term and
any renewal term) or during any period following the date of the Executive's
Retirement Period during which the Executive continues to provide services to
the Company on a part-time basis as contemplated by Section 7(f) above, and for
a period of 12 months thereafter:

               (i) engage or participate, directly or indirectly, as an officer,
     director, employee, partner or consultant with primary responsibility for
     activities in the fields of D&O, E&O and/or professional liability
     insurance or reinsurance in the United States of America (a "Competing
     Activity"), or in any business which is, or as a result of the Executive's
     engagement or participation would become, a Competing Activity; or

               (ii) solicit or recruit any officer or employee of Alleghany or
     any Subsidiary of Alleghany to join any other company to engage in a
     Competing Activity, or solicit or recruit a substantial number of employees
     of Alleghany or any Subsidiary of Alleghany to work with any company with
     whom the Executive is associated.

          The Executive further agrees that, during the Employment Period
(including the initial term and any renewal term) and at all times thereafter:

               (i) he shall keep secret and retain in strictest confidence, and
     will not use for his benefit or the benefit of others, any and all
     confidential information relating to Alleghany, the Company or any of their
     Affiliates disclosed to him in the course of his employment hereunder,
     including, without limitation, trade secrets, customer lists and other
     secret or confidential aspects of any of their businesses, and the
     Executive further agrees that he shall not disclose such information to
     anyone outside Alleghany, the Company or their Affiliates, except in the
     performance by him of the services provided for hereunder or as required by
     law in connection with any judicial or administrative proceeding or inquiry
     (provided prior written notice thereof is given by the Executive to the
     Company and to Alleghany) or with the prior written consent of the Company,
     unless such information is known generally to the public or the trade
     through sources other than the Executive's unauthorized disclosure; and

                                       11

<PAGE>

               (ii) he shall not engage in or participate in, directly or
     indirectly, any business conducted under a name that shall be the same as
     or similar to the name of, or any trade name used by, Alleghany, the
     Company or any of their Affiliates.

               The Executive acknowledges that irreparable damage would result
     to the Company if the provisions of this Section 11 are not specifically
     enforced, and agrees that the Company shall be entitled to any appropriate
     legal, equitable or other remedy, including injunctive relief, in respect
     of any failure to comply with the provisions of this Section.

     12.  Business Expenses.

          The Company shall promptly reimburse the Executive for all
appropriately documented, reasonable business expenses incurred by the Executive
in the performance of his duties under this Amended Employment Agreement, in
accordance with the Company's policies.

     13.  Office.

          The Company shall provide the Executive with a suitable workplace
appropriate for his responsibilities, secretarial and other business services at
the Company's principal executive offices, which office space shall initially be
located in the Company's current office space in Farmington, Connecticut.

     14.  Insurance.

          The Company shall have the right at its own cost and expense to apply
for and to secure in its own name, or otherwise, life, health or accident
insurance, or any or all of them, covering the Executive, and the Executive
agrees to submit to the usual and customary medical examination and otherwise to
cooperate with the Company in connection with the procurement of any such
insurance, and any claims thereunder.

     15.  Waiver of Breach.

          Any waiver of any breach of this Amended Employment Agreement shall
not be construed to be a continuing waiver or consent to any subsequent breach
on the part either of the Executive or of the Company.

     16.  Assignment.

          (a) This Amended Employment Agreement shall be binding upon and shall
inure to the benefit of the Company, its successors and any person or other
entity that succeeds to all or substantially all of the business, assets or
property of the Company. Except as specifically provided otherwise herein or as
otherwise required by applicable law, the Company will require any successor
(whether direct or indirect, by purchase, merger, consolidation, transfer or
otherwise) to all or substantially all of the business, assets or property of
the Company, to expressly assume and agree to perform the obligations of the
Company under this Amended Employment Agreement in the same manner and to the
same extent that the Company is required to perform hereunder. As used in this
Amended Employment Agreement, the "Company" shall

                                       12

<PAGE>

mean the Company as hereinabove defined and any successor to its business,
assets or property as aforesaid which executes and delivers an agreement
provided for in this Section 16 or which otherwise becomes bound by all the
terms and provisions of this Amended Employment Agreement by operation of law.
Except as provided by the foregoing provisions of this Section 16, this Amended
Employment Agreement shall not be assign able by the Company without the prior
written consent of the Executive.

          (b) This Amended Employment Agreement is personal in nature and the
rights and obligations of the Executive hereunder are not assignable to any
person. If the Executive should die while any cash amounts are due and payable
to the Executive hereunder, all such amounts, unless otherwise provided herein,
shall be paid to the Executive's designated beneficiary or, if there is no such
designated beneficiary, to the legal representatives of the Executive's estate.
If the Executive should die prior to an IPO and at the time of death shall own
any shares of common stock of the Company (whether restricted shares granted to
the Executive pursuant to the Restricted Stock Plan or otherwise), all of such
shares shall be sold by the Executive's designated beneficiary, or legal
representatives, as the case may be, to the Company for a purchase price equal
to the Fair Market Value as of the Determination Date, to be determined in
accordance with the provisions of the Restricted Stock Plan and the Restricted
Share Agreement; provided, however, that in the event that the Executive should
die prior to the occurrence of an IPO and an IPO subsequently occurred prior to
the Determination Date, then, upon the occurrence of the IPO, the requirement of
this Section 16(b) that the shares of common stock of the Company Owned by the
Executive at the time of death be sold to the Company will be terminated.

     17.  Severability.

          To the extent any provision of this Amended Employment Agreement or
portion thereof shall be invalid or unenforceable, it shall be considered
deleted therefrom and the remainder of such provision and of this Amended
Employment Agreement shall be unaffected and shall continue in full force and
effect. In furtherance and not in limitation of the foregoing, should the
duration or geographical extent of, or business activities covered by, any
provision of this Amended Employment Agreement be in excess of that which is
valid and enforceable under applicable law, then such provision shall be
construed to cover only that duration, extent or activities which may be validly
and enforceably covered.

     18.  Third-Party Beneficiaries.

          This Amended Employment Agreement is for the benefit of the parties
hereto and their respective successors and permitted assigns, and, except for
the release and discharge of AIHL by the Company and by the Executive provided
for in Section 10(c) hereof, is not intended to confer upon any other Person any
rights or remedies hereunder.

     19.  Survival.

          This Amended Employment Agreement shall terminate upon the expiration
of the Employment Period or, if earlier, upon the termination of the Executive's
employment under any of the circumstances described in Section 7, except that
the terms of this Amended Employment

                                       13

<PAGE>

Agreement which must survive the termination of this Amended Employment
Agreement in order to be effectuated (including the provisions of Sections 6, 7,
8, 9, 10, 11, 15, 16, 17, 18, 20, 21, 22, 23 and this Section 19) shall survive.

     20.  Notices.

          All notices, requests and other communications pursuant to this
Amended Employment Agreement shall be in writing and shall be deemed to have
been duly given, if delivered in person or by courier, or sent by express,
registered or certified mail, postage prepaid, addressed as follows:

               If to the Company:

                     Darwin Professional Underwriters, Inc.
                     9 Farm Springs Road
                     Farmington, Connecticut 06032
                     Attention: Chairman

                     with a copy to:

                     Alleghany Corporation
                     7 Times Square Tower
                     17th Floor
                     New York, NY 10036
                     Attention: General Counsel

               If to the Executive:

                     Mark I. Rosen
                     45 Porter Road
                     West Hartford, Connecticut 06117

Any party may, by written notice to the other parties hereto, change the address
to which notices to such party are to be delivered or mailed.

     21.  Amendment.

          This Amended Employment Agreement may be amended or modified only by a
written instrument executed by the Company and the Executive.

     22.  Government Law.

          This Amended Employment Agreement shall be construed and enforced in
accordance with the laws of the State of Connecticut, without giving effect to
the choice of law principles thereof.

                     [Remainder of page intentionally blank]

                                       14

<PAGE>

     23.  Entire Agreement.

          This Amended Employment Agreement, together with the Exhibits hereto
and the other writings referred to herein or delivered pursuant hereto, which
form a part hereof, contains the entire agreement and understanding between the
Company and the Executive with respect to the subject matter hereof and
supersedes and preempts any prior understandings, agreements or representations
by or between the parties, written or oral, which may have related to the
subject matter hereof in any way.

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

                                        DARWIN PROFESSIONAL UNDERWRITERS, INC.

                                        By: /s/ Stephen J. Sills
                                            ------------------------------------
                                        Name: Stephen J. Sills
                                        Title: President and Chief Executive
                                               Officer

                                        /s/ Mark I. Rosen
                                        ----------------------------------------
                                        Mark I. Rosen

                                       15<PAGE>
                                                                    Exhibit 10.5

                     DARWIN PROFESSIONAL UNDERWRITERS, INC.
                              RESTRICTED STOCK PLAN
                    (AS AMENDED, EFFECTIVE NOVEMBER 11, 2005)

          By action of the Board of Directors of Darwin Professional
Underwriters, Inc., the Darwin Professional Underwriters, Inc. Restricted Stock
Plan (the "Plan") has been amended and restated in its entirety to read as set
forth below, such amendment and restatement to be effective as of November 11,
2005 and to be applicable both to all awards made under the Plan.

          1. Purposes. The purposes of the Darwin Professional Underwriters,
Inc. Restricted Stock Plan are to advance the interests of Darwin Professional
Underwriters, Inc. (the "Company") and its stockholders by providing a means to
attract, retain, and motivate newly hired employees of the Company upon whose
judgment, initiative and efforts the continued success, growth and development
of the Company is dependent.

          2. Definitions. For purposes of the Plan, the following terms shall be
defined as set forth below:

          "Award" means an award of Restricted Shares granted to a Participant
under the Plan.

          "Award Agreement" means any written agreement, contract, or other
instrument or document evidencing an Award.

          "Board" means the Board of Directors of the Company.

          "Code" means the Internal Revenue Code of 1986, as amended from time
to time. References to any provision of the Code shall be deemed to include
successor provisions thereto and regulations thereunder.

          "Committee" means the Compensation Committee of the Board or, if no
such committee exists, the entire Board.

          "Company" means Darwin Professional Underwriters, Inc. or any
successor corporation.

          "Participant" means an employee of the Company who has been granted an
Award under the Plan.

          "Plan" means this Darwin Professional Underwriters, Inc. Restricted
Stock Plan.

<PAGE>

          "Restricted Shares" means an Award of Shares under Section 5(b) that
may be subject to certain transfer restrictions and to a risk of forfeiture, as
set forth herein and in any Participant's Award Agreement.

          "Shares" means common stock, $0.10 par value per share, of the
Company.

          3. Administration.

          (a) Authority of the Committee. The Plan shall be administered by the
Committee, and the Committee shall have full and final authority to take the
following actions, in each case in good faith and subject to and consistent with
the provisions of the Plan:

               (i) to determine the number of Awards to be granted, the number
     of Shares to which an Award may relate, the terms and conditions of any
     Award granted under the Plan (including, but not limited to, any purchase
     price, and any bases for adjusting such purchase price, any restriction or
     condition, any schedule for lapse of restrictions or conditions relating to
     transferability or forfeiture of an Award, and waiver or accelerations
     thereof, and waivers of performance conditions relating to an Award, based
     in each case on such considerations as the Committee shall determine), and
     all other matters to be determined in connection with an Award;

               (ii) to determine whether, to what extent, and under what
     circumstances an Award may be cancelled, forfeited, exchanged, or
     surrendered;

               (iii) to prescribe the form of each Award Agreement, which need
     not be identical for each Participant;

               (iv) to adopt, amend, suspend, waive, and rescind such rules and
     regulations and appoint such agents as the Committee may deem necessary or
     advisable to administer the Plan;

               (v) to correct any defect or supply any omission or reconcile any
     inconsistency in the Plan and to construe and interpret the Plan and any
     Award, rules and regulations, Award Agreement, or other instrument
     hereunder;

               (vi) to accelerate the vesting of all or any portion of any
     Award; and

               (vii) to make all other decisions and determinations as may be
     required under the terms of the Plan or as the Committee may deem necessary
     or advisable for the administration of the Plan.

          (b) Manner of Exercise of Committee Authority. The Committee shall
have sole discretion in exercising its authority under the Plan. Any action of
the Committee with respect to the Plan shall be final, conclusive, and binding
on all persons,

                                       2

<PAGE>

including the Company, Participants, any person claiming any rights under the
Plan from or through any Participants, and shareholders. The express grant of
any specific power to the Committee, and the taking of any action by the
Committee, shall not be construed as limiting any power or authority of the
Committee. The Committee may delegate to officers or managers of the Company the
authority, subject to such terms as the Committee shall determine, to perform
administrative functions and such other functions as the Committee may
determine, to the extent permitted under applicable law. Notwithstanding any
provision of this Plan to the contrary, the Committee may grant Awards which are
subject to the approval of the Board; provided that an Award shall be subject to
Board approval only if the Committee expressly so states.

          (c) Limitation of Liability. Each member of the Committee shall be
entitled to rely or act upon any report or other information furnished to him or
her by any officer or other employee of the Company, the Company's independent
certified public accountants, or other professional retained by the Company to
assist in the administration of the Plan. No member of the Committee, nor any
officer or employee of the Company acting on behalf of the Committee, shall be
personally liable for any action, determination, or interpretation taken or made
in good faith with respect to the Plan, and all members of the Committee and any
officer or employee of the Company acting on their behalf shall, to the extent
permitted by law, be fully indemnified and protected by the Company with respect
to any such action, determination, or interpretation.

          4. Shares Subject to the Plan.

          (a) Subject to adjustment as provided in Section 4(c) hereof, the
total number of Shares reserved for issuance under the Plan shall be 100,000. No
Award may be granted if the number of Shares to which such Award relates, when
added to the number of Shares previously issued under the Plan, exceeds the
number of Shares reserved under the preceding sentence. If any Awards are
forfeited, cancelled, terminated, exchanged or surrendered, including in
connection with satisfying tax withholding requirements, or such Award
terminates without a distribution of Shares to the Participant, any Shares
counted against the number of Shares reserved and available under the Plan with
respect to such Award shall, to the extent of any such forfeiture, termination,
cancellation, exchange or surrender, again be available for Awards under the
Plan.

          (b) Any Shares distributed pursuant to an Award may consist, in whole
or in part, of authorized and unissued Shares or treasury Shares including
Shares acquired by purchase.

          (c) In the event that the Committee shall determine that any dividend
in Shares, recapitalization, Share split, reverse split, reorganization, merger,
consolidation, spin-off, combination, repurchase, or share exchange, or other
similar corporate transaction or event, affects the Shares such that an
adjustment is appropriate in order to prevent dilution or enlargement of the
rights of Participants under the Plan, then the Committee shall make such
equitable changes or adjustments as it deems appropriate and, in such manner as
it may deem equitable, adjust any or all of (i) the number and kind

                                       3

<PAGE>

of shares which may thereafter be issued under the Plan, (ii) the number and
kind of shares, other securities, or other consideration (including cash) issued
or issuable in respect of outstanding Awards, and (iii) the purchase price
relating to any Award. In addition, the Committee is authorized to make
adjustments in the terms and conditions of, and the criteria and performance
objectives included in, Awards in recognition of unusual or non-recurring events
(including, without limitation, events described in the preceding sentence)
affecting the Company or the financial statements of the Company, or in response
to changes in applicable laws, regulations, or accounting principles.

          5. Specific Terms of Awards.

          (a) General. Awards may be granted on the terms and conditions set
forth in this Section 5. In addition, the Committee may impose on any Award, at
the date of grant or thereafter (subject to Section 7(d)), such additional terms
and conditions, not inconsistent with the provisions of the Plan, as the
Committee shall determine, including terms regarding forfeiture in the event of
termination of employment by the Participant.

          (b) Restricted Shares. The Committee is authorized to grant Restricted
Shares to Participants on the following terms and conditions:

               (i) Issuance and Restrictions. Restricted Shares shall be subject
     to such restrictions on transferability and other restrictions, if any, as
     the Committee may impose at the date of grant or thereafter, which
     restrictions, if any, may lapse separately or in combination at such times,
     under such circumstances (including, without limitation, upon achievement
     of performance criteria if deemed appropriate by the Committee), in such
     installments, or otherwise, as the Committee may determine. Except to the
     extent restricted under the Award Agreement relating to the Restricted
     Shares, a Participant granted Restricted Shares shall have all of the
     rights of a shareholder including, without limitation, the right to vote
     Restricted Shares and the right to receive dividends thereon. The Committee
     must certify in writing prior to the lapse of restrictions conditioned on
     the achievement of performance criteria that such performance criteria were
     in fact satisfied.

               (ii) Forfeiture. Except as otherwise determined by the Committee,
     at the date of grant or thereafter, upon termination of employment prior to
     specific vesting dates, Restricted Shares and any accrued but unpaid
     dividends that are at that time subject to restrictions shall be forfeited;
     provided, however, that the Committee may provide, by rule or regulation or
     in any Award Agreement, that restrictions or forfeiture conditions relating
     to Restricted Shares will be waived in whole or in part in the event of
     terminations resulting from specified causes.

               (iii) Certificates for Shares. Restricted Shares granted under
     the Plan may be evidenced in such manner as the Committee shall determine.
     If certificates representing Restricted Shares are registered in the name
     of the Participant, such certificates shall bear an appropriate legend
     referring to the

                                       4

<PAGE>

     terms, conditions, and restrictions applicable to such Restricted Shares,
     and, if the Committee so determines, the Company shall retain physical
     possession of the certificate representing such Restricted Shares (whether
     or not vested).

               (iv) Dividends. Cash dividends paid on Restricted Shares shall be
     either paid at the dividend payment date, or deferred for payment to the
     date no later than 2 1/2 months after the date the restrictions and risk of
     forfeiture of the Restricted Shares with respect to which such cash
     dividends has been distributed shall lapse, in cash or in unrestricted
     Shares having a fair market value (as determined by the Committee) equal to
     the amount of such dividends, all as determined by the Committee. Shares
     distributed in connection with a Share split or dividend in Shares, and
     other property distributed as a dividend, shall be subject to restrictions
     and a risk of forfeiture to the same extent as the Restricted Shares with
     respect to which such Shares or other property has been distributed.

          6. Certain Provisions Applicable to Awards.

          (a) Terms of Awards. The term of each Award granted to a Participant
shall be for such period as may be determined by the Committee.

          (b) Nontransferability. Except as set forth below, Awards shall not be
transferable by a Participant except to the Company and by will or the laws of
descent and distribution. Notwithstanding the foregoing, if the Committee
expressly so provides in the applicable Award agreement (at the time of grant or
at any time thereafter), an Award granted hereunder may be transferred by a
Participant to members of his or her "immediate family" or to a trust or other
entity established for the exclusive benefit of solely one or more members of
the Participant's "immediate family," and any such transfer by a Participant
must be for no consideration. Any Award held by the transferee will continue to
be subject to the same terms and conditions that were applicable to the Award
immediately prior to the transfer, except that the Award will be transferable by
the transferee only by will or the laws of descent and distribution. For
purposes hereof, "immediate family" means the Participant's children,
stepchildren, grandchildren, parents, stepparents, grandparents, spouse,
siblings (including half brothers and sisters), in-laws, and relationships
arising because of legal adoption. A Participant's rights under the Plan may not
be pledged, mortgaged, hypothecated, or otherwise encumbered, and shall not be
subject to claims of the Participant's creditors.

          7. General Provisions.

          (a) Compliance with Legal and Trading Requirements. The Plan, the
granting of Awards thereunder, and the other obligations of the Company under
the Plan and any Award Agreement, shall be subject to all applicable federal and
state laws, rules and regulations, and to such approvals by any regulatory or
governmental agency as may be required. The Company, in its discretion, may
postpone the issuance or delivery of Shares under any Award until completion of
any stock exchange or market system listing or registration or qualification of
such Shares or other required action under any state or federal law, rule or
regulation as the Company may consider appropriate, and may

                                       5

<PAGE>

require any Participant to make such representations and furnish such
information as it may consider appropriate in connection with the issuance or
delivery of Shares in compliance with applicable laws, rules and regulations. No
provisions of the Plan shall be interpreted or construed to obligate the Company
to register any Shares under federal or state law.

          (b) No Right to Continued Employment. Neither the Plan nor any action
taken thereunder shall be construed as giving any employee the right to be
retained in the employ or service of the Company, nor shall it interfere in any
way with the right of the Company to terminate any employee's employment at any
time.

          (c) Taxes. The Company is authorized to withhold, from any Award
granted, any payment relating to an Award under the Plan, including from a
distribution of Shares, or any payroll or other payment to a Participant,
amounts of withholding and other taxes due in connection with any transaction
involving an Award, and to take such other action as the Committee may deem
advisable to enable the Company and Participants to satisfy obligations for the
payment of withholding taxes and other tax obligations relating to any Award.
This authority shall include authority to withhold or receive Shares or other
property and to make cash payments in respect thereof in satisfaction of a
Participant's tax obligations.

          (d) Changes to the Plan and Awards. The Board may amend, alter,
suspend, discontinue, or terminate the Plan or the Committee's authority to
grant Awards under the Plan without the consent of either shareholders of the
Company or Participants; provided, however, that, without the consent of an
affected Participant, no amendment, alteration, suspension, discontinuation, or
termination of the Plan may impair the rights or, in any other manner, adversely
affect the rights of such Participant under any Award theretofore granted to him
or her.

          (e) No Rights to Awards; No Shareholder Rights. No Participant or
employee shall have any claim to be granted any Award under the Plan, and there
is no obligation for uniformity of treatment of Participants. No Award shall
confer on any Participant any of the rights of a shareholder of the Company
unless and until Shares are duly issued or transferred to the Participant in
accordance with the terms of the Award.

          (f) Unfunded Status of Awards. The Plan is intended to constitute an
"unfunded" plan for incentive compensation. With respect to any payments not yet
made to a Participant pursuant to an Award, nothing contained in the Plan or any
Award shall give any such Participant any rights that are greater than those of
a general creditor of the Company; provided, however, that the Committee may
authorize the creation of trusts or make other arrangements to meet the
Company's obligations under the Plan to deliver Shares, Awards, or other
property pursuant to any Award, which trusts or other arrangements shall be
consistent with the "unfunded" status of the Plan unless the Committee otherwise
determines with the consent of each affected Participant.

          (g) Not Compensation for Benefit Plans. No Award payable under this
Plan shall be deemed salary or compensation for the purpose of computing
benefits

                                       6

<PAGE>

under any benefit plan or other arrangement of the Company for the benefit of
its employees unless the Company shall determine otherwise.

          (h) No Fractional Shares. No fractional Shares shall be issued or
delivered pursuant to the Plan or any Award. In the case of Awards to
Participants, the Committee shall determine whether cash or other property shall
be issued or paid in lieu of such fractional Shares, or whether such fractional
Shares or any rights thereto shall be forfeited or otherwise eliminated.

          (i) Governing Law. The validity, construction, and effect of the Plan,
any rules and regulations relating to the Plan, and any Award Agreement shall be
determined in accordance with the laws of State of Delaware without giving
effect to principles of conflict of laws.

          (j) Effective Date; Plan Termination. The Plan became effective on
July 14, 2003. The Plan shall terminate as to future awards on July 14, 2013.

          (k) Titles and Headings. The titles and headings of the sections in
the Plan are for convenience of reference only. In the event of any conflict,
the text of the Plan, rather than such titles or headings, shall control.

                                        7

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