Document:

EX-10.5

 Exhibit 10.5 

REAFFIRMATION AGREEMENT 

November 7, 2016 
 Reference is made to
that certain Amended and Restated Management Agreement, dated as of October 31, 2013 (the “Amended and Restated Management Agreement”) by and between Global Indemnity (Cayman) Limited (“GBLI Cayman”)
and Fox Paine & Company, LLC, a Delaware limited liability company (“Fox Paine”), such agreement amending and restating the original Management Agreement, dated September 5, 2003 (the “Original Management
Agreement”). 
 Reference is made to that certain Guaranty (the “Guaranty”), executed by the undersigned
(“Guarantor”) in favor of Fox Paine to guaranty GBLI Cayman’s obligations under the Original Management Agreement. 

Reference is made to that certain Reaffirmation Agreement, executed October 31, 2013, wherein the Guarantor agreed and confirmed that all terms of the
Guaranty continue to apply to the Amended and Restated Management Agreement. 
 Capitalized terms used but not otherwise defined herein shall have the
meanings ascribed to such terms in the Guaranty. 
 This reaffirmation agreement (this “Agreement”) is delivered in connection with the
letter agreement dated November 7, 2016 from Fox Paine regarding the assignment of the Amended and Restated Management Agreement from GBLI Cayman to Global Indemnity Limited (“New GBLI Parent”) and the assumption of the
Amended and Restated Management Agreement by New GBLI Parent (the “Letter Agreement”). The Letter Agreement is attached hereto as Exhibit A. 

The undersigned Guarantor hereby consents to the terms of the Letter Agreement and agrees that the terms of the Guaranty continue to apply to the Amended and
Restated Management Agreement, all of which obligations and liabilities shall remain in full force and effect and each of which is hereby reaffirmed and remain in full force and effect. The Guarantor further acknowledges and agrees that any
payments, liabilities and obligations, however arising, owed by New GBLI Parent to Fox Paine of every kind and description (whether or not evidenced by any note, instrument or agreement and whether or not for the payment of money), direct or
indirect, absolute or contingent, due or to become due, now existing or hereafter arising pursuant to the terms of the Amended and Restated Management Agreement and any costs of collection hereunder, including without limitation, attorneys’ and
other professionals’ fees, shall be Obligations under the Guaranty. 
 The undersigned Guarantor hereby confirms that no amendments to the Guaranty are
intended hereby. 
 (The remainder of the page has been intentionally left blank) 

 IN WITNESS WHEREOF, the undersigned has duly executed this Agreement as of the day and year first above written.

  

			
	 GLOBAL INDEMNITY REINSURANCE COMPANY, LTD.

(f/k/a Wind River Reinsurance Company, Ltd.)

		
	By:	 	 /s/ Stephen Green

		 	Name: Stephen Green
		 	Title: President

 [Signature Page to Reaffirmation Agreement]EX-10.6

 Exhibit 10.6 

ASSIGNMENT AND ASSUMPTION AGREEMENT 

This Assignment and Assumption Agreement (this “Agreement”) dated as of November 7, 2016, is made and entered
into by and between Global Indemnity plc, a public limited company organized under the laws of Ireland (“GI plc”) and Global Indemnity Limited, an exempted company formed with limited liability under the laws of the Cayman
Islands (“GI Cayman”). 
 WITNESSETH: 

WHEREAS, on October 16, 2014, American Bankers Insurance Group, Inc., Global Indemnity Group, Inc. (“Buyer”),
solely for the purposes of Sections 5.2, 5.3, 5.4, 5.5, 5.6, 5.7, 5.9, 5.11, 5.14, 5.15(b), 5.16, 5.18 and 5.22, Assurant, Inc. and, solely for the purposes
of Article XI, GI plc, entered into a Stock Purchase Agreement (the “Stock Purchase Agreement”), pursuant to which Buyer bought all of the issued and outstanding shares of capital stock of American
Reliable Insurance Company; 
 WHEREAS, effective as of the date hereof, GI plc will become a subsidiary of GI Cayman, GI Cayman will
become a public company and GI plc will cease being a public company listed on The NASDAQ Global Select Market system pursuant to a scheme of arrangement under Irish law; 

WHEREAS, Section 11.13 of the Stock Purchase Agreement provides, amongst other things, that GI plc shall guarantee and cause
Buyer to fully and promptly pay, perform and observe all of its obligations under, with respect to, in connection with or otherwise arising out of or relating to the Stock Purchase Agreement; 

WHEREAS, GI plc desires to assign and delegate to GI Cayman all of its rights and obligations under Article XI of the Stock
Purchase Agreement, including the obligations of GI plc under Section 11.13 of the Stock Purchase Agreement, and GI Cayman has agreed to accept such assignment and to assume and become liable for all of the obligations of GI plc under
Article XI of the Stock Purchase Agreement, including the obligations of GI plc under Section 11.13 of the Stock Purchase Agreement, in each case in accordance with the terms set forth herein; 

WHEREAS, GI Cayman intends for GI plc to have no further obligations or liabilities under Article XI of the Stock Purchase
Agreement; 
 NOW, THEREFORE, in consideration of the premises and of the mutual agreements, covenants and provisions herein
contained, the parties agree as follows: 
 1. Capitalized terms used herein and not otherwise defined herein have the meanings given to
them in the Stock Purchase Agreement. 
 2. Effective as of the date hereof, GI plc hereby irrevocably and unconditionally assigns and
delegates to GI Cayman and its successors and permitted assigns any and all of its rights and obligations, under Article XI of the Stock Purchase Agreement, including the obligations of GI plc under Section 11.13 of the Stock Purchase
Agreement. 

 3. Effective as of the date hereof, GI Cayman hereby irrevocably and unconditionally accepts the
assignment and assumes any and all rights and obligations of GI plc under Article XI of the Stock Purchase Agreement, including the obligations of GI plc under Section 11.13 of the Stock Purchase Agreement. 

4. Except as expressly amended hereby, all of the representations, warranties, terms, covenants and conditions of the Stock Purchase Agreement
will remain unamended and not waived and will continue to be in full force and effect. In the event of any conflict or inconsistency between the terms of the Stock Purchase Agreement and the terms hereof, the terms of the Stock Purchase
Agreement shall govern. 
 5. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all
of which shall together constitute one and the same instrument. 
 6. Whenever possible, each provision or portion of any provision of this
Agreement will be interpreted in such manner as to be effective and valid under Applicable Law, but if any provision or portion of any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any Applicable
Law or rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision or portion of any provision in such jurisdiction, and this Agreement will be reformed, construed and enforced in such jurisdiction
as if such invalid, illegal or unenforceable provision or portion of any provision had never been contained herein. Upon such holding that any provision is invalid, illegal or unenforceable, the parties shall negotiate in good faith to modify
this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated by this Agreement be consummated as originally contemplated to the greatest extent
possible. 
 7. This Agreement, the Stock Purchase Agreement (including the Ancillary Agreements, and all exhibits and schedules thereto)
and the Confidentiality Agreement constitute the entire agreement, and supersede all prior agreements, understandings, representations and warranties, both written and oral, among the parties with respect to the subject matter of this Agreement.

 8. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York, regardless of the laws that
might otherwise govern under applicable principles of conflicts of laws thereof. 
 [Signature Page Follows] 

  
 2 

 IN WITNESS WHEREOF, the parties have duly executed or caused to be duly executed this Agreement
as of the date first above written. 
  

			
	Given under the Common Seal of
	GLOBAL INDEMNITY PLC
		
	By:	 	 /s/ Thomas M. McGeehan

	Name: Thomas M. McGeehan
	Title: Chief Financial Officer
	
	GLOBAL INDEMNITY LIMITED
		
	By:	 	 /s/ Thomas M. McGeehan

	Name: Thomas M. McGeehan
	Title: Chief Financial Officer

 Acknowledged and Agreed: 

AMERICAN BANKERS INSURANCE GROUP, INC. 

			
		
	By:	 	 /s/ Pooja Lal

	Name:	 	Pooja Lal
	Title:	 	Vice President
	
	GLOBAL INDEMNITY GROUP, INC.
		
	By:	 	 /s/ Thomas M. McGeehan

	Name: Thomas M. McGeehan
	Title: Chief Financial Officer
	
	ASSURANT, INC.
		
	By:	 	 /s/ Pooja Lal

	Name:	 	Pooja Lal
	Title:	 	Senior Vice President
    of Corporate Development & M&A

 [Signature Page to Assignment and Assumption Agreement]EX-10.7

 Exhibit 10.7 

CYNTHIA Y. VALKO (CEO) 

GLOBAL INDEMNITY LIMITED (Global Cayman) 

EXECUTIVE EMPLOYMENT AGREEMENT 

WHEREAS, on December 10, 2014 Global Indemnity plc (“GBLI”) and Cynthia Y. Valko entered into an agreement regarding Ms.
Valko’s employment by GBLI in the capacity of Chief Executive Officer (the “Prior Employment Agreement”); 
 WHEREAS,
GBLI entered into a Scheme of Arrangement with Global Cayman (the “Scheme”), which was consummated on November 7, 2016 (the “Effective Date”) and which resulted in the replacement of GBLI by Global Cayman as the ultimate parent
holding company of the Global Indemnity group of companies and the exchange of GBLI ordinary shares for Global Cayman ordinary shares on a one-for-one basis; 

WHEREAS, effective as of the Effective Date, Global Cayman and Ms. Valko have agreed to enter into a new agreement regarding Ms.
Valko’s continued employment by Global Cayman in the capacity of Chief Executive Officer, which agreement is structured so as to preserve generally the operative provisions of the Prior Employment Agreement and to make other desired and/or
clarifying changes as set forth herein: 
  

			
	POSITION & TITLE:	  	Chief Executive Officer (“CEO”) of Global Cayman, reporting to the Chairman of the Board of Directors of Global Cayman.
		
	TERM:	  	Effective Date through December 31, 2017.
		
	BASE SALARY:	  	Not less than $600,000 per calendar year (prorated for any partial employment period).
		
	ANNUAL BONUS OPPORTUNITY:	  	Not less than $600,000 target bonus, payable 50% in cash (“Cash Bonus”) and 50% in restricted shares (“Bonus Shares”), with the bonus amount determination to be based on the achievement of Board approved
annual underwriting income, premium volume, and underwriting profitability targets (with true-up), as determined by the Board in its sole discretion and subject to CEO’s continued employment with Global Cayman and/or its subsidiaries through
(i) the bonus payment date with respect to the Cash Bonus and (ii) the Bonus Share grant date with respect to the Bonus Shares. Any Cash Bonus will be payable under and subject to the terms of Global Cayman’s Annual Incentive Awards
Program. Any Bonus Shares will be granted under and subject to the terms of Global Cayman’s Share Incentive Plan and any ancillary agreements thereunder. Such Bonus Shares will vest
1/3 on each anniversary of the grant date subject to CEO’s continued employment
with Global Cayman and/or its subsidiaries through each such vesting date and subject to accident year true-up of bonus year underwriting results as of the 3rd anniversary of grant.

			
	STOCK OPTIONS:	  	 CEO holds a vested stock option award to purchase up to 300,000 Class A ordinary shares of Global Cayman, which was originally granted
pursuant to the terms of that certain Executive Employment Term Sheet between CEO and GBLI dated September 12, 2011. CEO also holds a stock option award to purchase up to 300,000 Class A ordinary shares of Global Cayman, which was reflected in
the Prior Employment Agreement.
  
 These awards were assumed by Global Cayman upon
consummation of the Scheme (the “Close”) and continue to be subject to same terms and conditions thereof in effect immediately before the Close, including, but not limited to, the exercise price, vesting or acceleration of vesting
requirements, as described below, or forfeiture requirements, except that all references to GBLI in the related agreements evidencing the awards have been changed to references to Global Cayman and the awards now cover Global Cayman Class A ordinary
shares rather than GBLI shares.
  
 Any outstanding unvested stock option awards held by
CEO will vest in full upon a Change of Control. For this purpose, a “Change of Control” means (i) the acquisition of all or substantially all of the assets of Global Cayman by a “person” (as such term is defined in Section
3(a)(9) of the U.S. Securities Exchange Act of 1934 and as such term is used in Section 13(d)(3) and 14(d)(2) of such Act) or a group of “persons” which is not an affiliate of Fox Paine & Company, LLC, the members thereof, or Fox Paine
Capital Fund II, L.P. (an “Unaffiliated Person”), (ii) a merger, consolidation, statutory share exchange or similar form of corporate transaction involving Global Cayman after which the resulting entity is controlled by an Unaffiliated
Person, or (iii) the acquisition by an Unaffiliated Person of sufficient voting shares of Global Cayman to cause the election of a majority of Global Cayman’s Board members.

		
	EMPLOYEE BENEFITS:	  	During the term of CEO’s employment with Global Cayman, CEO is entitled to participate in all existing and future employee benefit plans (e.g. pension and retirement, savings, medical, health and accident, life,
disability) that are available to other senior executives of Global Cayman and will be provided with four weeks paid vacation annually. Global Cayman reserves the right to cancel or change the benefit plans it offers to its senior executives
and other employees at any time, subject to the terms of the plans.
		
	TERMINATION:	  	CEO’s employment with Global Cayman is terminable at the discretion of the Board in which event CEO shall receive as severance an amount equal to one month of Base Salary (as in effect immediately prior to
the

  
 -2- 

			
		  	termination date) for each 12 months of employment (prior to the termination date), unless such termination is by reason of the occurrence of a Cause Event (as defined below), with such amount payable in a lump sum cash payment
on the 60th date following the date of CEO’s termination date (the “Release Deadline”), provided that such payment shall be subject to CEO providing an executed general release of
claims in a form reasonably satisfactory to Global Cayman (a “Release”) and not revoking such Release within any legally applicable revocation period. If the Release does not become effective and irrevocable by the Release Deadline, CEO
will forfeit any rights to the severance payment described above. In addition, in the event CEO voluntarily terminates her employment for any reason, she shall not be entitled to the severance payment described above.
		
	CAUSE EVENT:	  	A “Cause Event” means: (i) conduct of CEO constituting malfeasance, incompetence, gross misconduct, gross negligence, fraud, dishonesty, (ii) CEO is officially charged with or indicted for a felony criminal offense
involving moral turpitude, (iii) CEO fails to follow the lawful written instructions of the Board (including a committee thereof or the Chairman thereof), or (iv) substantive violation by CEO of Global Cayman governance, code of conduct,
conflict of interest, or similar Global Cayman policies applicable to all employees or senior executives.
		
	DISPUTES GOVERNING LAW:	  	Any disputes shall be resolved by arbitration in Philadelphia, Pennsylvania. The governing law shall be that of New York. The arbitration shall be conducted by a single arbitrator selected by the parties in accordance with the
JAMS Employment Arbitration Rules & Procedures pertaining at the time the dispute arises. Any arbitration will be conducted on a strictly confidential basis. This agreement to arbitrate and any arbitration hereunder will be interpreted and
conducted in all manners necessary to ensure its enforceability.
		
	TAXES/ WITHHOLDING	  	Global Cayman shall make such deductions and withhold such amounts from each payment made to CEO hereunder as may be required from time to time by law, governmental regulation or order. CEO shall be entitled to reimbursement for
any penalty taxes that may be imposed on her in respect of Sections 409A or 457A of the U.S. Internal Revenue Code of 1986, as well as any state, federal or local income or employment taxes imposed on such reimbursement.
		
	SECTIONS 409A AND 457A	  	It is the intent of the parties that all payments and/or other benefits provided under this agreement be exempt from or otherwise comply with Section 409A of the U.S. Internal Revenue Code, as amended (the “Code”) and
the regulations and official guidance issued thereunder, as

  
 -3- 

			
		  	each may be amended from time to time (collectively, “Section 409A”), and be exempt from the requirements of Section 457A of the Code and the regulations and official guidance issued thereunder, as each may be amended
from time to time (collectively, “Section 457A”), so that none of the payments or other benefits provided hereunder will be subject to any adverse tax consequences of Section 409A or Section 457A.
		
		  	Notwithstanding anything to the contrary herein, to the maximum extent permitted, this agreement shall be interpreted and administered consistent with such intent so as to provide for exemption or compliance with Section 409A and
to provide for exemption from Section 457A.
		
		  	With respect to any taxable reimbursements or in-kind benefits provided to CEO by Global Cayman (i) all such reimbursements of eligible expenses shall be made on or prior to the last day of the CEO’s taxable year immediately
following the taxable year in which such expenses were incurred, (ii) any right to such reimbursement shall not be subject to liquidation or exchange for another benefit, and (iii) the amount of any such reimbursement or in-kind benefit provided in
any taxable year of the CEO shall not affect in any way the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year.
		
		  	Further, if and to the extent Section 457A would otherwise impose taxation on any payments or benefits hereunder, such payments or benefits will be made no later than twelve months after the end of the taxable year of the
“service recipient” (within the meaning of Section 457A) during which the right to the payment or benefit is first no longer subject to a “substantial risk of forfeiture” (within the meaning of Section 457A) (or such later date
as permitted by Section 457A).
		
		  	Each payment or other benefit provided hereunder is intended to constitute a separate payment for purposes of Sections 409A and 457A.

  
 -4- 

			
	OTHER MATTERS:	  	Except as otherwise set forth herein, this agreement incorporates and supersedes all prior agreements among the parties relating to CEO’s employment by Global Cayman or its predecessor. This agreement may only be amended,
the provisions hereof may only be waived, and consents hereunder shall only be effective if the amendment, waiver, or consent is evidenced by a written document that is physically signed by CEO and Global Cayman.

  
 -5- 

 IN WITNESS WHEREOF, the parties have executed this agreement as of the Effective Date.

  

			
	GLOBAL INDEMNITY LIMITED
		
	By:	 	 /s/ Thomas M. McGeehan

			
	Name:	 	Thomas M. McGeehan
	Title:	 	Chief Financial Officer
	
	 /s/ Cynthia Y. Valko

	Name: Cynthia Y. Valko

  
 -6-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00264-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00264-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00264-of-00352.parquet"}]]