Document:

Exhibit 10.19

                             ARCH CAPITAL GROUP LTD.

                           Restricted Share Agreement

     THIS AGREEMENT, dated on October 23, 2001, between Arch Capital Group Ltd.
(the "Company"), a Bermuda company, and Robert Clements (the "Executive").

     WHEREAS, the Executive has been granted the following award as compensation
for services to be rendered;

     NOW, THEREFORE, in consideration of the premises and mutual covenants
contained herein, the parties hereto agree as follows.

     1. Award of Shares. The Executive is hereby awarded 1,668,157 shares of
restricted common stock of the Company (the "Award"), subject to the terms and
conditions herein set forth. This Award shall be rescinded if it is not approved
by shareholders prior to the first anniversary hereof.

     2. Terms and Conditions. It is understood and agreed that the Award
evidenced hereby is subject to the following additional terms and conditions:

          (a) Vesting of Award. Subject to Section 2(b) below and the other
     terms and conditions of this Agreement, this Award shall become vested in
     five equal annual installments, beginning on the first anniversary of the
     date hereof. Notwithstanding the foregoing, if the service of the Executive
     as Chairman of the Board of the Company is terminated by the Company or is
     not continued by the Company for any reason, or the Executive's service
     terminates due to his death or Permanent Disability, then the Award shall
     become immediately vested in full upon such termination of service.
     "Permanent Disability" means those circumstances where the Executive is
     unable to continue to perform the usual customary duties of his assigned
     job for a period of six (6) months in any twelve (12) month period because
     of physical, mental or emotional incapacity resulting from injury, sickness
     or disease. Any questions as to the existence of a Permanent Disability
     shall be determined by a qualified, independent physician selected by the
     Company and approved by the Executive (which approval shall not be
     unreasonably withheld). The determination of any such physician shall be
     final and conclusive for all purposes of this Agreement.

          (b) Termination of Service; Forfeiture of Unvested Shares. Except as
     otherwise set forth in Section 2(a) above, in the event the Executive
     terminates his service with the Company (other than due to his death or
     Permanent Disability or the failure of the Company to continue his service)
     prior to the date of vesting of an installment of the Award, the unvested
     installments shall be forfeited by the Executive and become the property of
     the Company. For purposes of this Agreement, service with any of the
     Company's wholly owned subsidiaries shall be considered to be service with
     the Company.

<PAGE>
                                      -2-

          (c) Certificates. Each certificate issued in respect of an Award made
     hereunder shall be dated the date hereof and deposited with the Company, or
     its designee, together with, if requested by the Company, a stock power
     executed in blank by the Executive, and shall bear a legend disclosing the
     restrictions on transferability imposed on such Award by this Agreement
     (the "Restrictive Legend"). Upon the vesting of the Award pursuant to
     Section 2(a) hereof, the certificates evidencing such vested Shares, not
     bearing the Restrictive Legend, shall be delivered to the Executive.

          (d) Rights of a Stockholder. Prior to the time an Award is fully
     vested hereunder, except as set forth in Section 2(e) below, the Executive
     shall have no right to transfer, pledge, hypothecate or otherwise encumber
     such Award. Beginning on the date hereof and during such period, the
     Executive shall have all other rights of a stockholder, including, but not
     limited to, the right to vote and to receive dividends at the time paid on
     such Award.

          (e) Transferability. Except as set forth below, prior to vesting this
     Award shall not be transferable by the Executive except by will or the laws
     of descent and distribution. Notwithstanding the foregoing, if the Board of
     Directors provides its consent (which consent shall not be unreasonably
     withheld), the Award (or any part thereof) may be transferred by the
     Executive 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 Executive's "immediate family" or the Executive. 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 Executive's children, stepchildren,
     grandchildren, great grandchildren, parents, stepparents, grandparents,
     spouse, siblings (including half brothers and sisters), in-laws, and
     relationships arising because of legal adoption.

     3. Noncompetition. The Executive acknowledges that during his service with
the Company, he will become familiar with trade secrets and other confidential
information concerning the Company and that his services will be of special,
unique and extraordinary value to the Company. In addition, the Executive hereby
agrees that, in the event his service with the Company is terminated by the
Company prior to the fifth anniversary of the date hereof, during the period
ending on the later of the fifth anniversary of the date hereof or one year
following the date of his termination by the Company, he will not, without the
Company's written consent, directly or indirectly manage, participate in, or
render services for any business competing with the businesses of the Company or
its subsidiaries as such businesses exist or are in process as of the date of
termination, within any geographical area in which the Company or its
subsidiaries engage in such businesses.

     4. Enforcement. If, at the enforcement of Section 3, a court holds that the
duration, scope or area restrictions stated herein are unreasonable under
circumstances then existing, the parties agree that the maximum duration, scope
or area reasonable

<PAGE>
                                      -3-

under such circumstances will be substituted for the stated duration, scope or
area and that the court will be permitted to revise the restrictions contained
in Section 3 to cover the maximum duration, scope and area permitted by law.

     5. Transfer of Shares. The vested shares delivered hereunder, or any
interest therein, may be sold, assigned, pledged, hypothecated, encumbered, or
transferred or disposed of in any other manner, in whole or in part, only in
compliance with the terms, conditions and restrictions as set forth in the
governing instruments of the Company, applicable United States federal and state
securities laws or any other applicable laws or regulations and the terms and
conditions hereof.

     6. Antidilution. In the event that the Board of Directors of the Company
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 Company common stock such that an adjustment is appropriate in order
to prevent dilution or enlargement of the rights of the Executive hereunder,
then the Board of Directors of the Company shall make such equitable changes or
adjustments as are appropriate and adjust any or all of the number and kind of
shares, other securities or other consideration issued or issuable in respect of
this Award.

     7. Expenses of Issuance of Shares. The issuance of stock certificates
hereunder shall be without charge to the Executive. The Company shall pay, and
indemnify the Executive from and against any issuance, stamp or documentary
taxes (other than transfer taxes) or charges imposed by any governmental body,
agency or official (other than income taxes) or by reason of the issuance of
shares hereunder.

     8. References. References herein to rights and obligations of the Executive
shall apply, where appropriate, to the Executive's legal representative or
estate without regard to whether specific reference to such legal representative
or estate is contained in a particular provision of this Agreement.

     9. Notices. Any notice required or permitted to be given under this
Agreement shall be in writing and shall be deemed to have been given when
delivered personally or by courier, or sent by certified or registered mail,
postage prepaid, return receipt requested, duly addressed to the party concerned
at the address indicated below or to such changed address as such party may
subsequently by similar process give notice of:

      If to the Company:

      Arch Capital Group Ltd.
      Executive Offices:
      20 Horseneck Lane
      Greenwich, CT  06830
      Attn.: Secretary

<PAGE>
                                      -4-

      If to the Executive:  To the last address given to the Company by
                            the Executive in the manner set forth in this
                            Section 9.

     10. Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of Bermuda, without giving effect to principles of
conflict of laws.

     11. Entire Agreement. This Agreement constitutes the entire agreement among
the parties relating to the subject matter hereof, and any previous agreement or
understanding among the parties with respect thereto is superseded by this
Agreement.

     12. Counterparts. This Agreement may be executed in two counterparts, each
of which shall constitute one and the same instrument.

<PAGE>
                                      -5-

     IN WITNESS WHEREOF, the undersigned have executed this Agreement on the
date first above written.

                              ARCH CAPITAL GROUP LTD.

                              By:    /s/ Louis T. Petrillo
                                     -------------------------------------
                                     Name:   Louis t. Petrillo
                                     Title:  Senior Vice President, General
                                             Counsel and Secretary

                              /s/ Robert Clements
                              --------------------------------------------
                                           Robert ClementsEXHIBIT 4.1

                        FORM OF 2001 STOCK INCENTIVE PLAN
                       NON-QUALIFIED STOCK OPTION CONTRACT

      THIS NON-QUALIFIED STOCK OPTION CONTRACT is entered into as of ________,
200_ by and between MTR Gaming Group, Inc. a Delaware corporation (the
"Company"), and _________________ (the "Optionee").

      In consideration of the mutual promises hereinafter set forth, and for
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereby agree as follows:

      1. Option Grant. The Company and the Optionee, in accordance with the
allotment and grant (the "Grant") made by the Company's Board of Directors (the
"Board") on May 1, 2001, and subject to the terms and conditions of the 2001
Stock Incentive Plan of the Company adopted by the Board (the "Plan"), hereby
agree to be bound by the terms of this Contract with respect to the Grant to the
Optionee of the option to purchase an aggregate of _______ shares of the common
stock, $.0001 par value per share, of the Company ("Common Stock") at $7.30 per
share, being the fair market value of such shares of Common Stock on the date of
Grant. This option is not intended to constitute an "incentive stock option"
(within the meaning of Section 422 of the Internal Revenue Code of 1986, as
amended).

      2. Term; Exercise. The term of this option shall be ten (10) years
commencing May 1, 2001, subject to earlier termination as provided in the Plan
(the "Term"). This option is exercisable at anytime during the Term, subject to
the terms of this option and the Plan. In no event may a fraction of a share of
Common Stock be purchased under this option.

      3. Notice of Exercise; Payment. This option shall be exercisable by giving
written notice to the Company at its principal office, presently State Route 2
South, Chester, West Virginia, Attn.: Chief Financial Officer, stating that the
Optionee is exercising this option, specifying the number of shares being
purchased and accompanied by payment in full of the aggregate purchase price
therefor: (a) in cash or by certified check; (b) with previously acquired shares
of Common Stock having an aggregate Fair Market Value on the date of exercise
equal to the aggregate exercise price of all options being exercised; or (c)
with any combination of cash, certified check or shares of Common Stock having
such value.

      4. Representations and Warranties of Optionee. Notwithstanding the
foregoing, this option shall not be exercisable by the Optionee unless: (a) a
Registration Statement under the Securities Act of 1933, as amended (the
"Securities Act") with respect to the shares of Common Stock to be received upon
the exercise of the option shall be effective and current at the time of
exercise; or (b) there is an exemption from the registration requirements under
the Securities Act for the issuance of the shares of Common Stock upon exercise.
The Optionee hereby represents and warrants to the Company, that: (i) the shares
of Common Stock to be issued upon the exercise of this option are being acquired
by the Optionee for the Optionee's own account, for investment only and not with
a view to the resale or distribution thereof; and (ii) any subsequent resale or
distribution of shares of Common Stock by the Optionee will be made only
pursuant to (x) a Registration Statement under the Securities Act which is
effective and current with respect to the shares of Common Stock being sold, or
(y) a specific exemption from the registration

                                       2
<PAGE>

requirements of the Securities Act, but in claiming such exemption, the Optionee
shall, prior to any offer of sale or sale of such shares of Common Stock,
provide the Company with a favorable written opinion of counsel satisfactory to
the Company, in form, substance and scope satisfactory to the Company, as to the
applicability of such exemption to the proposed sale or distribution. Such
representation and warranties shall also be deemed to be made by the Optionee
upon each exercise of this option. Nothing herein shall be construed as
requiring the Company to register the shares subject to this option under the
Securities Act.

      5. Listing of Shares. Notwithstanding anything herein to the contrary, if
at any time the Committee shall determine in its sole discretion that the
listing or qualification of the shares of Common Stock subject to this option on
any securities exchange, Nasdaq or under any applicable law, or the consent or
approval of any governmental regulatory body, is necessary or desirable as a
condition of, or in connection with, the granting of an option, or the issue of
shares of Common Stock thereunder, this option may not be exercised in whole or
in part unless such listing, qualification, consent or approval shall have been
effected or obtained free of any conditions not acceptable to the Committee.

      6. No Right to Continued Employment. Nothing in the Plan or herein shall
confer upon the Optionee any right to continue in the employ of the Company, any
of its Subsidiaries or a Parent, or interfere in any way with any right of the
Company, any Subsidiary or a Parent to terminate such employment at any time for
any reason whatsoever without liability to the Company, the Subsidiary or
Parent.

      7. Legends; Stop Transfer Instructions. The Company may affix appropriate
legends upon the certificates for shares of Common Stock issued upon exercise of
this option and may issue such "stop transfer" instructions to its transfer
agent in respect of such shares as it determines, in its discretion, to be
necessary or appropriate to: (a) prevent a violation of, or to perfect an
exemption from, the registration requirements of the Securities Act and any
applicable state securities laws; or (b) implement the provisions of the Plan or
any agreement between the Company and the Optionee with respect to such shares
of Common Stock.

      8. Taxes. The Company may withhold cash and/or shares of Common Stock to
be issued to the Optionee in the amount which the Company determines is
necessary to satisfy its obligation to withhold taxes or other amounts incurred
by reason of the grant or exercise of this option, its disposition or the
disposition of the underlying shares of Common Stock. Alternatively, the Company
may require the Optionee to pay the Company such amount in cash promptly upon
demand.

      9. Applicability of the Plan. The Company and the Optionee agree that they
will both be subject to and bound by all of the terms and conditions of the
Plan, a copy of which is attached hereto and made a part hereof. Any capitalized
term not defined herein shall have the meaning ascribed to it in the Plan. In
the event of a conflict between the terms of this Contract and the terms of the
Plan, the terms of the Plan shall govern.

      10. Compliance With Applicable Laws. The Optionee agrees to comply with
all applicable laws relating to the Plan and the grant and exercise of the
option and the disposition of the shares of Common Stock acquired upon exercise
of the option, including without limitation, federal and state securities and
"blue sky" laws.

      11. Transferability. The Option is not transferable otherwise than by will
or the laws

                                       3
<PAGE>

of descent and distribution and may be exercised, during the lifetime of the
Optionee, only by the Optionee, or the Optionee's legal representatives,
provided, however, that the Option may be exercised and the underlying
securities resold by any family member of the Optionee who has acquired the
Option from the Optionee through a gift or a domestic relations order. For
purposes of this Option, "family member" includes any child, stepchild,
grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling,
niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law,
brother-in-law, or sister-in-law, including adoptive relationships, any person
sharing the Optionee's household (other than a tenant or employee), a trust in
which these persons have more than fifty percent of the beneficial interest, a
foundation in which these persons (or the Optionee) control the management of
assets, and any other entity in which these persons (or the Optionee) own more
than fifty percent of the voting interests.

      12. Successors and Assigns. Except as otherwise provided by the Plan, this
Contract shall be binding upon and inure to the benefit of the parties hereto,
any successor or assign of the Company and to any Legal Representative of the
Optionee, or any family member as defined in this Agreement acquiring the Option
as a result of a gift or pursuant to a domestic relations order.

      13. Governing Law. This Contract shall be governed by, and construed and
enforced in accordance with, the laws of the State of Delaware, without regard
to the conflicts of law rules thereof. Any dispute arising under this Contract
shall be submitted to binding arbitration before the American Arbitration
Association in West Virginia.

      14. Validity. The invalidity, illegality or unenforceability of any
provision herein shall not affect the validity, legality or enforceability of
any other provision, all or which shall be valid, legal and enforceable to the
fullest extent permitted by applicable law.

      15. Amendments. The Optionee agrees that the Company may amend the Plan
and the options granted to the Optionee under the Plan, subject to the
limitations contained in the Plan.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       4
<PAGE>

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

                                        MTR GAMING GROUP, INC.

                                        By:_____________________________________
                                        Name:___________________________________
                                        Its:____________________________________

                                        OPTIONEE

                                        By:_____________________________________
                                                          [Name]

                                        ________________________________________
                                        ________________________________________
                                                         (Address)

                                        ________________________________________
                                                 (Social Security Number)

                                        5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00033-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00033-of-00352.parquet"}]]