Document:

Exhibit
10.37

SUPPLEMENTAL
CONFIRMATION

				
	To:			Aspen
Insurance Holdings Limited
 Maxwell Roberts Building
 1 Church
Street
 Hamilton, HM 11

Bermuda
	From:			Goldman, Sachs &
Co.
	Subject:			Collared Accelerated Stock
Buyback
	Ref. No:			[Insert Reference
No.]
	Date:			December
21,  2006
	

	
		
	

The purpose of
this Supplemental Confirmation is to confirm the terms and conditions
of the Transaction entered into between Goldman, Sachs & Co.
(‘‘GS&Co.’’) and Aspen
Insurance Holdings Limited
(‘‘Counterparty’’)
(together, the ‘‘Contracting
Parties’’) on the Trade Date specified below.
This Supplemental Confirmation is a binding contract between GS&Co.
and Counterparty as of the relevant Trade Date for the Transaction
referenced below.

1.    This Supplemental Confirmation
supplements, forms part of, and is subject to the Master Confirmation
dated as of December  21,  2006 (the
‘‘Master Confirmation’’)
between the Contracting Parties, as amended and supplemented from time
to time. All provisions contained in the Master Confirmation govern
this Supplemental Confirmation except as expressly modified
below.

2.    The terms of the Transaction to which
this Supplemental Confirmation relates are as
follows:

			
	Trade Date:		December
21,  2006
			

			
	Forward Price Adjustment
Amount:		USD0.18
			

			
	Hedge Completion
Date:		As set forth in the Trade Notification, but in no
event later than January  19,  2007.
			

			
	Scheduled
Termination Date:		Three months after the Hedge Completion
Date, subject to GS&Co.’s right to accelerate the
Termination Date to any date on or after the First Acceleration
Date.
			

			
	First Acceleration Date:		As set forth in
the Trade Notification to be the date that follows the Hedge Completion
Date by one month.
			

			
	Prepayment
Amount:		USD44,000,000.00
			

			
	Minimum
Shares:		As set forth in the Trade Notification, to be a
number of Shares equal to (a) the Prepayment Amount divided by
(b) 107% of the Hedge Period Reference
Price.
			

			
	Maximum Shares:		As set for in the Trade
Notification, to be a number of Shares equal to (a) the Prepayment
Amount divided by (b) 98% of the Hedge Period Reference
Price.
			

			
	Ordinary Dividend Amount:		For any
calendar quarter,
USD0.15
			

3.    Counterparty
represents and warrants to GS&Co. that neither it nor any
‘‘affiliated purchaser’’ (as defined in
Rule 10b-18 under the Exchange Act) has made any purchases of blocks
pursuant to the proviso in Rule 10b-18(b)(4) under the Exchange Act
during the four full calendar weeks immediately preceding the Trade
Date.

4.    This Supplemental Confirmation may be
executed in any number of counterparts, all of which shall constitute
one and the same instrument, and any party hereto may execute this
Supplemental Confirmation by signing and delivering one or more
counterparts.

Counterparty hereby agrees (a) to
check this Supplemental Confirmation carefully and immediately upon
receipt so that errors or discrepancies can be promptly identified and
rectified and (b) to confirm that the foregoing (in the exact
form provided by GS&Co.) correctly sets forth the terms of the
agreement between GS&Co. and Counterparty with respect to this
Transaction, by manually signing this Supplemental Confirmation or this
page hereof as evidence of agreement to such terms and providing the
other information requested herein and immediately returning an
executed copy to Equity Derivatives Documentation Department, Facsimile
No. 212-428-1980/83.

		Yours
sincerely,

		GOLDMAN, SACHS &
CO.

		By:/s/ David
Goldenberg                        

                    Authorized
Signatory

Agreed and accepted by:

ASPEN INSURANCE
HOLDINGS LIMITED

By:  /s/ Julian
Cusack                                

Name:    Julian
Cusack
Title:    Chief Financial
OfficerExhibit
10.38

SCHEDULE B

TRADE
NOTIFICATION

				
	To:			Aspen
Insurance Holdings Limited
 Maxwell Roberts Building
 1 Church
Street
 Hamilton, HM 11

Bermuda
	From:			Goldman, Sachs &
Co.
	Subject:			Collared Accelerated Stock
Buyback
	Ref.
No:			SDB1623687640
	Date:			January
17,  2007
	

	
		
	

The purpose of
this Trade Notification is to notify you of certain terms in the
Transaction entered into between Goldman, Sachs & Co.
(‘‘GS&Co.’’) and Aspen
Insurance Holdings Limited
(‘‘Counterparty’’)
(together, the ‘‘Contracting
Parties’’) on the Trade Date specified below.

This Trade Notification supplements, forms part of, and is subject
to the Supplemental Confirmation dated as of December  21,
2006 (the ‘‘Supplemental
Confirmation’’) between the Contracting Parties,
as amended and supplemented from time to time. The Supplemental
Confirmation is subject to the Master Confirmation dated as of
December  21,  2006 (the ‘‘Master
Confirmation’’) between the Contracting Parties,
as amended and supplemented from time to time. All provisions contained
in the Master Confirmation and the Supplemental Confirmation govern
this Trade Notification except as expressly modified
below.

			
	Trade Date:		December
21,  2006
			

			
	Hedge Completion
Date:		January  17,  2007
			

			
	Scheduled
Termination Date:		April  17,
2007
			

			
	First Acceleration Date:		February
20,  2007 (or, if such date is not a Scheduled Trading Day, the
next following Scheduled Trading Day).
			

			
	Hedge Period
Reference Price:		USD26.2631
			

			
	Minimum
Shares:		1,565,751
			

			
	Maximum
Shares:		1,709,544
			

		Yours
sincerely,
    

GOLDMAN, SACHS &
CO.

    
By: /s/    Debra
Tageldein                

        Authorized
SignatoryIndemnification Agreement

    Exhibit
      10.5

    

    INDEMNIFICATION
      AGREEMENT

    

    This
      INDEMNIFICATION AGREEMENT (the “Agreement”) is made and entered into as of
      ______________________, 20__ by and between Brunswick Corporation, a Delaware
      corporation (the "Corporation"), and _______________________
      ("Indemnitee").

    

    WHEREAS,
      the Corporation is a Delaware corporation;

    WHEREAS,
      at the request of the Corporation, Indemnitee currently serves as a
      director of
      the
      Corporation and may, therefore, be subjected to claims, suits or proceedings
      arising as a result of his service; 

    

    WHEREAS,
      as an inducement to Indemnitee to continue to serve as a director, the
      Corporation has agreed to indemnify Indemnitee against expenses and costs
      incurred by Indemnitee in connection with any such claims, suits or proceedings,
      to the fullest extent that is lawful; and

    

    WHEREAS,
      the parties to this Agreement desire to set forth their agreement regarding
      indemnification. 

    

    NOW,
      THEREFORE, the parties agree as follows:

    1.
      Acts
      and Omissions Covered By This Agreement.
      This
      Agreement shall cover any act or omission by an Indemnitee which (i) occurs
      or
      is alleged to have occurred by reason of his being or having been a director,
      (ii) occurs or is alleged to have occurred before, during or after the time
      when
      the Indemnitee served as a director and (iii) gives rise to, or is the direct
      or
      indirect subject of a claim in any threatened, pending or completed action,
      suit
      or proceeding at any time or times whether during or after his service as a
      director.

    

    2.
      Indemnity.

    
      	 	
              (a)

            	
              The
                Corporation hereby agrees to indemnify, and keep indemnified in accordance
                with, and to the fullest extent permitted by the Corporation's charter
                and
                that is lawful, and regardless of any by-law provision to the contrary,
                Indemnitee, from and against any expenses (including attorney's fees),
                judgments, fines, taxes, penalties and amounts paid in settlement
                actually
                and reasonably incurred by Indemnitee in connection with any threatened,
                pending or completed action, suit or proceeding, whether civil, criminal,
                administrative or investigative, by reason of the fact that he is
                or was a
                director of the Corporation or is or was serving at the request of
                the
                Corporation as a director, officer, employee or agent of another
                corporation, partnership, joint venture, trust or other enterprise
                and
                whether or not such action is by or in the right of the Corporation
                or
                that other corporation, partnership, joint venture, trust or other
                enterprise with respect to which the Indemnitee serves or has
                served.

            

    

    

    
      	 	
              (b)

            	
              Despite
                anything to the contrary in subsection (a), the Corporation agrees
                to
                indemnify Indemnitee in a suit or proceeding initiated by the Indemnitee
                only if the Indemnitee acted with the authorization of the Corporation
                in
                initiating that suit or proceeding. However, an arbitration proceeding
                brought under Section 8 shall not be subject to this subsection
                (b).

            

    

    

    
      	 	
              (c)

            	
              Except
                as set forth in Section 5 (Advancement of Expenses), the specific
                amounts
                that were actually and reasonably incurred shall be indemnified by
                the
                Corporation in the amount submitted by the Indemnitee unless the
                Board of
                Directors (the “Board”) determines that the request is unreasonable or
                unlawful. If the Board so determines and the Board and the Indemnitee
                cannot agree, any disagreement they have shall be resolved by a decision
                of the arbitrator in an arbitration proceeding pursuant to Section
                8. For
                purposes of this Agreement, references to "other enterprises" shall
                include employee benefit plans; references to "fines" shall include
                any
                excise taxes assessed on a person with respect to an employee benefit
                plan; and references to "serving at the request of the Corporation"
                shall
                include any service as a director, officer, employee or agent of
                the
                corporation which imposes duties on, or involves services by, such
                director, officer, employee, or agent with respect to an employee
                benefit
                plan, its participants, or
                beneficiaries.

            

    

    

    3.  Burden
      of Proof.
      Indemnitee shall be presumed to be entitled to indemnification for any act
      or
      omission covered in Section 1 of this Agreement. The burden of proof of
      establishing that Indemnitee is not entitled to indemnification because of
      the
      failure to fulfill some requirement of Delaware law, the Corporation's charter,
      by-laws, or this Agreement shall be on the Corporation.

    

    4.  Notice
      by Indemnitee.
      Indemnitee shall notify the Corporation in writing of any matter with respect
      to
      which Indemnitee intends to seek indemnification hereunder as soon as reasonably
      practicable following the receipt by Indemnitee of written threat thereof;
      provided,
      however,
      that
      failure to so notify the Corporation shall not constitute a waiver by Indemnitee
      of his rights hereunder.

    

    5. Advancement
      of Expenses.
      In the
      event of any action, suit or proceeding against Indemnitee which may give rise
      to a right of indemnification from the Corporation pursuant to this Agreement,
      following written request to the Corporation by the Indemnitee, the Corporation
      shall advance to Indemnitee amounts to cover expenses incurred by Indemnitee
      in
      defending the action, suit or proceeding in advance of final disposition upon
      receipt of (i) an undertaking by or on behalf of the Indemnitee to repay the
      amount advanced in the event that it shall be ultimately determined in
      accordance with Section 3 of this Agreement that he is not entitled to
      indemnification by the Corporation, and (ii) satisfactory evidence as to the
      amount of such expenses. Indemnitee's written certification together with a
      copy
      of the statement paid or to be paid by Indemnitee shall constitute satisfactory
      evidence unless determined to the contrary in an arbitration proceeding
      conducted pursuant to Section 8 of this Agreement.

    

    6.
      Non-Exclusivity
      of Right of Indemnification.
      The
      indemnification rights granted to Indemnitee under this Agreement shall not
      be
      deemed exclusive of, or in limitation of, any rights to which Indemnitee may
      be
      entitled under Delaware law, the Corporation's charter or By-laws, any other
      agreement, vote of stockholders or directors or otherwise.

    

    7. Termination
      of Agreement and Survival of Right of Indemnification.

    
      	 	
              (a)

            	
              Subject
                to subparagraph (b) of this section, this Agreement shall terminate
                when
                the Indemnitee's term of office as a director
                ends.

            

    

    

    
      	 	
              (b)

            	
              The
                rights granted to Indemnitee hereunder shall continue after termination
                as
                provided in Section 1 and shall inure to the benefit of Indemnitee,
                his
                personal representative, heirs, executors, administrators and
                beneficiaries, and this Agreement shall be binding upon the Corporation,
                its successors and assigns.

            

    

    

    8. Arbitration
      of all Disputes Concerning Entitlement.
      Any
      controversy or claim arising out of or relating to this Agreement including,
      without limitation, the Indemnitee's entitlement to indemnification under this
      Agreement, shall be settled by arbitration in the City of Chicago administered
      by the American Arbitration Association in accordance with its Commercial
      Arbitration Rules, and judgment on the award rendered by the arbitrator may
      be
      entered in any court having jurisdiction thereof. Interest on any judgment
      shall
      be assessed at a rate or rates the arbitrator considers just under the
      circumstances. If it is necessary or desirable for the Indemnitee to retain
      legal counsel or incur other costs and expenses in connection with enforcement
      of his rights under this Agreement, the Corporation shall pay his reasonable
      attorneys' fees and costs and expenses in connection with enforcement of his
      rights (including the enforcement of any arbitration award in court), regardless
      of the final outcome, unless the arbitrator determines that under the
      circumstances recovery by the Indemnitee of all or a part of any such fees
      and
      costs and expenses would be unjust.

    

    9.
      Governing
      Law.
      This
      Agreement shall be governed by and interpreted in accordance with the laws
      of
      the State of Delaware without regard to its choice of law
      provisions.

     

    10. Severability.
      If any
      provision of this Agreement is determined to be invalid or unenforceable, this
      invalidity or unenforceability shall not affect the validity or enforceability
      of any other provisions of this Agreement, and this Agreement shall be
      interpreted as though the invalid or unenforceable provision was not part of
      this Agreement.

    

    IN
      WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
      day
      and year first above stated.

    

    BRUNSWICK
      CORPORATION   
      INDEMNITEE

    
      	
               

              By:

            	 	 	 
	 	
              Marschall
                I. Smith

            	 	
              [NAME]

            
	 	
              Vice
                President, General Counsel 

              and
                Secretary

            	 	
              Director

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