Document:

EX-10.1

EXHIBIT 10.1

WAIVER

May 11, 2018

Reference is made to the Amended and Restated Bye-laws of RenaissanceRe Holdings Ltd. (the
“Bye-laws”). Defined terms not otherwise defined herein shall have the meanings ascribed to
them in the Bye-laws.

Each party hereto acknowledges that Bye-law 46A of the Bye-laws provides, except as otherwise set
forth therein, that no Person shall be permitted to own or control shares in the Company to the
extent that such Person or any other Person will be considered to own or control Controlled Shares,
as the Board may determine in its sole discretion, if the result would be to render such Person or
any other Person a Ten Percent Shareholder or cause the Company to become a “controlled foreign
corporation” within the meaning of Section 957 of the U.S. Internal Revenue Code.

The Vanguard Group, Inc. (the “Investor”), on behalf of itself and its subsidiaries and
affiliates, acknowledges and agrees that Bye-law 46A of the Bye-laws provides that all Controlled
Shares which a Person may own or control which carry in excess of 9.9% of the voting rights of all
the issued and outstanding capital shares of the Company, as the Board may determine in its sole
discretion, shall carry no voting rights whatsoever in the hands of the Member actually owning such
shares for the purpose of the calculation of any vote which may or which is required to be taken at
any general meeting of the Company for any purpose.

In light of the foregoing, RenaissanceRe Holdings Ltd. waives the restrictions on the acquisition
of ownership in Bye-law 46A of the Bye-laws with respect to the Investor up to a maximum of shares
representing 15% of the shares of the Company outstanding at any time of measurement, provided
that such waiver is revocable by the Company for any reason upon 30 days’ notice, including the
fact that another Person is or may become a Ten Percent Shareholder or may cause the Company to
become a “controlled foreign corporation” within the meaning of Section 957 of the U.S. Internal
Revenue Code, as the Board may determine in its sole discretion. The parties shall reasonably
cooperate with each other, and shall reasonably share such appropriate information, to effectuate
the calculation of the voting rights attributed to shares owned or controlled by the Investor such
that the aggregate voting power thereof does not in respect of any such vote or solicitation exceed
9.9% in respect of any vote or solicitation relating to the Company.

We have called to your attention that Maryland law requires prior notice and the Maryland Insurance
Administration approval of acquisitions of control of a Maryland-domestic insurer, such as our
subsidiary Renaissance Reinsurance U.S. Inc. or an entity directly or indirectly controlling a
Maryland-domestic insurer, including its holding company. We understand that any purchaser of 10%
or more of the outstanding voting securities of an insurance company, its holding company or any
other entity directly or indirectly controlling the insurance company is presumed to have acquired
control, unless the presumption is rebutted. Similar requirements may pertain to 10% ultimate
parent ownership of a Lloyd’s managing agent, Lloyd’s corporate member, Irish insurance company, or
under the regulatory regimes of other jurisdictions in which entities we own or have invested in
may be regulated. Beneficial ownership under the securities law does not always equate to purchase
or control under insurance law or regulation and we encourage you to seek your own counsel.

In addition, we have agreed to send to the Investor information about the Company relating to its
other direct and indirect ownership holdings and related jurisdictions, which may not be publicly
available and which may relate in whole or in part to minority investments of the Company. The
Investor agrees to keep such information strictly confidential, to retain it to the greatest extent
practicable within the Investor’s legal and compliance function, and to utilize such information
solely for the purpose of analyzing potential regulatory requirements of the Investor with respect
to its investment in the Company.

IN WITNESS WHEREOF, the undersigned has caused this Waiver to be signed on its behalf by its
officer thereunto duly authorized as of the date first written above.

RENAISSANCERE HOLDINGS LTD.

By: /s/ Stephen H. Weinstein

Name: Stephen Weinstein

Title: Senior Vice President, Group General Counsel

ACKNOWLEDGED AND AGREED:

THE VANGUARD GROUP, INC.

By: /s/ Glenn Booraem

Name: Glenn Booraem

Title: PrincipalEX-10.2

EXHIBIT 10.2

PERFORMANCE SHARE AGREEMENT

RenaissanceRe Holdings Ltd. (the “Company”), pursuant to its 2016 Long-Term Incentive
Plan (as amended from time to time, the “Plan”), hereby grants to the Participant the
number of Performance Shares set forth below. The Performance Shares are subject to all of the
terms and conditions as set forth herein, as well as the terms and conditions of the Plan, all of
which are incorporated herein in their entirety. Capitalized terms not otherwise defined herein
shall have the same meaning as set forth in the Plan. In the event of a conflict or inconsistency
between the terms and provisions of the Plan and the provisions of this Performance Share Agreement
(this “Agreement”), the Plan shall govern and control.

Participant:

Date of Grant:

Number of Performance Shares:

	 	 	Definitions:

For purposes of this Agreement, the following definitions
shall apply:

“Employment Agreement” means the Participant’s
employment agreement with the Company, as amended,
amended and restated, or modified from time to time.

“Measurement Price” means, with respect to any
Change in Control, the average of the closing prices of
the Stock for each of the twenty (20) trading days ending
on (and including) the date of the consummation of such
Change in Control.

“Measurement TBVPS Plus AD Amount” means, with
respect to any Performance Period, the sum of (i) the
Tangible Book Value Per Share as of the last day of such
Performance Period, and (ii) the aggregate of all
dividends paid with respect to the Stock during such
Performance Period.

“Performance Period” means (i) with respect to
Tranche 1, calendar year [      ], (ii) with
respect to Tranche 2, calendar year [      ],
and (iii) with respect to Tranche 3, calendar year
[      ].

“Reference Price” means, with respect to any
Change in Control, the average of the closing prices of
the Stock for each of the twenty (20) trading days ending
on (and including) the date immediately prior to the date
on which such Change in Control is publicly announced, as
determined by the Committee.

“Reference TBVPS Amount” means, with respect to
any Performance Period, the Tangible Book Value Per Share
as of the date immediately prior to the first day of such
Performance Period.

“Service Period” means the period commencing on
the Date of Grant and ending on December 31,
[      ], with respect to each Vesting Tranche.

“TBVPS Plus AD Growth,” the Performance
Objective, means, with respect to any Performance Period,
the percentage change in the Tangible Book Value per
Share plus accumulated dividends from the Reference TBVPS
Amount to the Measurement TBVPS Plus AD Amount, in each
case, with respect to such Performance Period.

“Tangible Book Value Per Share” means, as of any
date, the book value per share of Stock, as of such date,
determined in accordance with GAAP, with adjustments
made, in the sole discretion of the Committee, to exclude
goodwill and intangible assets per share of Stock.

“Total Shareholder Return” means, as of the date
of the consummation of any Change in Control, the
percentage change in the value of the Stock from the
Reference Price to the Measurement Price as of such date
(plus the dividends paid with respect to the Stock during
the period commencing on the date immediately prior to
the date on which the Company publicly announces such
Change in Control and ending on the date of the
consummation of such Change in Control), as determined by
the Committee in its sole discretion.

“Vesting Tranche” means a vesting tranche of
Performance Shares as set forth herein.

	 	 	Vesting Percentage:

“Vesting Percentage” shall, with respect to a
given Vesting Tranche, be a function of the TBVPS Plus AD
Growth achieved during the applicable Performance Period,
to be determined as follows:

	 	 	 	 	 
	Achievement Level	 	TBVPS Plus AD Growth	 	Vesting Percentage
	Maximum

	 	[ ]%
	 	[      ]%
	 

	 	 
	 	 
	Target

	 	[ ]%
	 	[      ]%
	 

	 	 
	 	 
	Threshold

	 	[ ]%
	 	[      ]%
	 

	 	 
	 	 
	Below Threshold

	 	< [ ]%
	 	[      ]%
	 

	 	 
	 	 

In the event that the TBVPS Plus AD Growth during a
given Performance Period falls between any of the stated
TBVPS Plus AD Growth percentages in the table above, the
Vesting Percentage for the applicable Vesting Tranche
shall be determined using a linear interpolation from the
next lowest stated percentage. For all purposes of this
Agreement, the Plan, the Employment Agreement, and any
other agreement between the Participant and the Company,
the TBVPS Plus AD Growth associated with the “target”
achievement level shall be deemed to be “target”
performance. Notwithstanding anything herein to the
contrary, the Committee may decrease the Vesting
Percentage with respect to any given Performance
Period(s), in its sole discretion.

	 	 	Industry Loss Adjustment:

Notwithstanding anything herein to the contrary, in the
event that (i) there are global catastrophic industry
loss event(s) during a Performance Period totaling
$[  billion] or greater in the aggregate (as determined
by the Committee in its sole discretion) and (ii) the
TBVPS Plus AD Growth for such Performance is below the
“Threshold” achievement level, if the Committee
determines in its sole discretion that the Company’s
performance against its modelled outcomes for such
event(s) are within the acceptable modelled range,
notwithstanding the TBVPS Plus AD Growth and
corresponding Vesting Percentage for the applicable
Vesting Tranche determined in accordance with the table
above, the Committee shall have the discretion to award
Performance Shares in an amount equal to up to [  ]% of
the “target” payout for the Vesting Tranche for such
Performance Period.

	 	 	Change in Control:

Notwithstanding anything herein to the contrary, in the
event of a Change in Control during the Service Period in
connection with which the Performance Shares are not
assumed or substituted, the Vesting Percentage with
respect to any Vesting Tranche for which the Performance
Period has not yet completed prior to the date of the
consummation of such Change in Control shall be
determined as follows: (i) with respect to any Vesting
Tranche for which the Performance Period has not yet
commenced as of the date of the consummation of such
Change in Control, the TBVPS Plus AD Growth associated
with the “target” achievement level shall be deemed to be
achieved during such Performance Period, and (ii) with
respect to the Vesting Tranche for the Performance Period
during which the Change in Control is consummated, the
Vesting Percentage will be a function of the Total
Shareholder Return achieved as of the date of the
consummation of such Change in Control, to be determined
as follows:

	 	 	 	 	 
	Achievement Level	 	Total Shareholder Return	 	Vesting Percentage
	Maximum

	 	[      ]%
	 	[      ]%
	 

	 	 
	 	 
	Target

	 	[      ]%
	 	[      ]%
	 

	 	 
	 	 
	Threshold

	 	[      ]%
	 	[      ]%
	 

	 	 
	 	 
	Below Threshold

	 	< [      ]%
	 	[      ]%
	 

	 	 
	 	 

In the event that, with respect to the Vesting
Tranche for the Performance Period during which the
Change in Control is consummated, the Total Shareholder
Return achieved as of the date of the consummation of
such Change in Control falls between any of the stated
Total Shareholder Return percentages in the table above,
the Vesting Percentage for the applicable Vesting Tranche
shall be determined using a linear interpolation from the
next lowest stated percentage.

	 	 	Performance Objective Adjustment:

The Committee may adjust the Performance Objectives set
forth herein to exclude the impact of any acquisitions or
dispositions of businesses or business segments by the
Company, one-time non-operating charges, unusual or
nonrecurring items, accounting changes (including the
early adoption of any accounting change mandated by any
governing body, organization or authority), changes in
tax laws, impact of discontinued operations, restatements
of prior period financial results, and any other events
or transactions that may result in distortion of such
Performance Objectives. In addition, if the Committee
determines that a change in the business, operations,
corporate structure or capital structure of the Company,
or the manner in which it conducts its business, or other
events or circumstances render the Performance Objectives
set forth herein unsuitable, the Committee may modify
such Performance Objectives, in whole or in part, as the
Committee deems appropriate and equitable.

	 	 	Vesting Tranches:

“Tranche 1” shall consist of [      ]
Performance Shares.

“Tranche 2” shall consist of [      ]
Performance Shares.

“Tranche 3” shall consist of [      ]
Performance Shares.

	 	 	Vesting Schedule:

Subject to the Participant’s continued employment with
the Company or any of its Affiliates through the Service
Period (except as otherwise provided in any other
agreement between the Participant and the Company
pertaining to the Performance Shares, including the
Employment Agreement, in which case the terms of such
other agreement shall apply to the Performance Shares), a
number of Performance Shares in each Vesting Tranche
shall vest upon the expiration of the Service Period
equal to the product of (x) the total number of
Performance Shares in such Vesting Tranche multiplied by
(y) the Vesting Percentage. The total number of vested
Performance Shares in each Vesting Tranche shall be
delivered following the later of (i) expiration of the
Service Period and (ii) the Committee’s determination of
TBVPS Plus AD Growth or Total Shareholder Return, as
applicable, with respect to the Performance Period for
such Vesting Tranche. Performance Shares in a given
Vesting Tranche that are no longer eligible to vest
following the Committee’s determination of TBVPS Plus AD
Growth or Total Shareholder Return, as applicable, with
respect to a given Performance Period shall immediately
be forfeited to the Company by the Participant for no
consideration as of the date of such determination.

	 	 	Termination of Employment:

In the event of the Participant’s Termination for any
reason (except as otherwise provided in any other
agreement between the Participant and the Company
pertaining to the Performance Shares, including the
Employment Agreement or any other Participant Agreement,
in which case the terms of such other agreement shall
apply to the Performance Shares), all Performance Shares
that have not vested as of the date of such Termination
shall be immediately forfeited to the Company by the
Participant for no consideration as of such date.

	 	 	Dividends:

As contemplated by Section 9(a) of the Plan, cash
dividends and stock dividends, if any, with respect to
the Performance Shares shall be withheld by the Company
for the Participant’s account, and shall be subject to
forfeiture to the same degree as the Performance Shares
to which such dividends relate. No interest will accrue
or be paid on the amount of any cash dividends withheld.
Accrued dividends that remain unpaid following the
Participant’s Termination for any reason shall be
immediately forfeited for no consideration as of the date
of such Termination. No dividends will accrue or be
withheld by the Company on the Participant’s behalf
pursuant to this Agreement or the Plan with respect to
any Performance Shares on or following the date on which
they vest in full.

	 	 	Additional Terms:

The Performance Shares granted hereunder shall be
registered in the Participant’s name on the books of the
Company, but the certificates evidencing such Performance
Shares shall be retained by the Company while the
Performance Shares remain unvested, and for such
additional time as the Committee determines appropriate.

The Company shall have the right to deduct from any
payment to the Participant pursuant to this Agreement any
federal, state or local income or other taxes required to
be withheld in respect thereof in accordance with
Section 17 of the Plan.

This Agreement does not confer upon the Participant any
right to continue as an employee.

This Agreement shall be construed and interpreted in
accordance with the laws of Bermuda, without regard to
the principles of conflicts of law thereof.

* * *

[Signatures to appear on the following page(s).]

THE UNDERSIGNED PARTICIPANT ACKNOWLEDGES RECEIPT OF THIS AGREEMENT AND THE PLAN, AND AS AN
EXPRESS CONDITION TO THE GRANT OF PERFORMANCE SHARES HEREUNDER, AGREES TO BE BOUND BY THE TERMS
THIS AGREEMENT AND THE PLAN.

	 	 	 
	RENAISSANCERE HOLDINGS LTD.

By:

Signature

	 	PARTICIPANT

Signature

Date:
	Name:

	 	

	 

	 	

	Title:

	 	

	Date:

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