Document:

Exhibit 4(u)

     COMMISSION AGREEMENT

     	PARTIES: 	GARDEX INTERNATIONAL LIMITED
                    (“GARDEX”)

                (a British Virgin Islands Corporation)
	 	 
	 	ASE Inc. (Chung-Li) (“ASECL”) 

               (a Taiwan Corporation)
	 	 
	DATE: 	Jan
          1, 2006

      AGREEMENT

     

	
1.              	
Services to be rendered. ASECL hereby retains GARDEX to provide the sales services to ASECL as a Sales Agency with the following terms.        
	 
	 	
     To be non-exclusive world-wide sales agent for all present and future products and services to be specified by ASECL in writing with the following authority:     
	 	 	 
	 	(a).	Identify customers for ASECL products and
          services; 
	 	(b).	Assist ASECL to sign sale contracts with potential
          customers. 
	 	 	 
	
2.              	
Compensation to GARDEX. For services hereunder, ASECL shall pay monthly compensation to GARDEX in respect of net export sales (outside of Taiwan), the compensation amount is 0.50% of
the total monthly export sales.  
	 
	 	
     The above scheme of compensation payment is applicable from Jan 1, 2006 to December 31, 2006. Compensation payment thereafter is subject to further negotiation on a yearly basis between ASECL and GARDEX.       
	 
	 	
     All payments to GARDEX shall be in US dollars. Currency conversions, where necessary, shall be based on the prevailing free-market rates of the time the payment is earned (not at the time of payment) as quoted in the Wall
Street Journal or other authoritative source.    
	 
	
3.              	
Term of Agreement. This
agreement is effective from Jan 1, 2006 and shall expire on December 31, 2006
unless earlier terminated by (i) mutual agreement, or (ii) ASECL on at least
30  days’ prior written notice with or without cause. Neither
expiration nor termination of this Agreement shall terminate the obligation of
ASECL to pay GARDEX for services rendered with respect to sales following such
date that result from orders received prior to such date.        
	 

	4.	Representative and Covenants. 
	 	 	 
	 	(a). 	GARDEX agree to use its best efforts to perform
               its obligations hereunder and to give priority to ASECL over all
               other customers of GARDEX in terms of management time, and efforts.
               GARDEX will not enter into any management consulting, sales, agency
               or similar relationship, nor engage in activities, that would
          result in a conflict with GARDEX’s duties under this Agreement. 
	 	(b). 	Each party will provide to the other
               on a regular basis such documentation as may reasonably be required
               to enable the other party to be assured of compliance with this
               Agreement, and shall permit the other party to inspect its books
               of account and other records at such a reasonable times as the
          other party may request. 
	 	(c).	 All confidential information received
      or learned by GARDEX relating to ASECL’s business and products shall
      be kept in confidence by GARDEX and neither used by GARDEX nor disclosed
    to any other person for any purpose outside this Agreement.
	 	 	 
	
5.              	 	
Governing Law and Jurisdiction. This Agreement shall be governed and construed under the laws of Republic of China unless the parties agree in writing to voluntary arbitration. The
Courts in the Republic of China shall have exclusive jurisdiction to hear and decide any case or controversy arising out of this Agreement.      
	 
	 	 	
Each party consents to in person jurisdiction over it by such courts and to service of process by registered mail sent to its principal business address.      
	 

  	ASE Inc. (Chung-Li)  
	 	 
	BY:	 
	 	
        

	 	 
	 	 
	GARDEX INTERNATIONAL LIMITED
	 	 
	BY:EX-4.1

 

Exhibit 4.1

	AWH

	INCORPORATED UNDER THE LAWS

OF BERMUDA

	COMMON SHARES
CUSIP G0219G 20 3
SEE REVERSE FOR CERTAIN DEFINITIONS

	ALLIED WORLD ASSURANCE COMPANY HOLDINGS, LTD ALLIED WORLD ASSURANCE COMPANY HOLDINGS, LTD

	FULLY PAID AND NON-ASSESSABLE COMMON SHARES, PAR VALUE US $0.03 PER SHARE, OF
Countersigned and Registered:
CONTINENTAL STOCK TRANSFER & TRUST COMPANY,
(New York, N.Y.) Transfer Agent
and Registrar
By
Authorized Signature
PRESIDENT AND
CHIEF EXECUTIVE OFFICER SECRETARY
Allied World Assurance Company Holdings, Ltd            transferable on the books of the Company by
the holder
hereof in person or by duly authorized attorney upon surrender of this certificate properly
endorsed. This
certificate and the shares represented hereby are issued and shall be held subject to all the
provisions of the
Memorandum of Association and Amended and Restated Bye-Laws of the Company, copies of which are on
file
with the Transfer Agent, to all of which the holder by acceptance hereof assents.
This certificate is not valid unless countersigned and registered by the Transfer Agent and
Registrar.
Witness the seal of the Company and the signatures of its duly authorized officers.
Dated

	AMERICAN BANK NOTE COMPANY
711 ARMSTRONG LANE
COLUMBIA, TENNESSEE 38401
(931) 388-3003
SALES: RICHARD JOHNS 212-2629-0339 X 1

	7 / LIVE JOBS / A / ALLIED WORLD 23117 FC
PRODUCTION COORDINATOR: MIKE PETERS 931-490-1714
PROOF OF: JUNE 5, 2006
ALLIED WORLD ASSURANCE COMPANY HOLDINGS, LTD.
TSB 23117 FACE
OPERATOR: Ron/Teresa
REV. 4
COLORS SELECTED FOR PRINTING: Logo prints in PMS 2727. Intaglio print in PMS 2727 and Black.
COLOR: This proof was printed from a digital file or artwork on a graphics quality, color laser
printer. It is a good representation of the color as it will appear on the final product.
However, it is not an exact color rendition, and the final printed product may appear slightly
different from the proof due to the difference between the dyes and printing ink.
PLEASE INITIAL THE APPROPRIATE SELECTION FOR THIS PROOF: OK AS IS OK WITH CHANGES MAKE
CHANGES AND SEND ANOTHER PROOF

 

 

ALLIED WORLD ASSURANCE COMPANY HOLDINGS, LTD

     The following abbreviations, when used in the inscription on the face of this certificate,
shall be construed as though they were
written out in full according to applicable laws or regulations:

	 	 	 	 	 	 	 	 	 	 	 
	TEN COM	 	-	 	as tenants in common	 	UNIF GIFT MIN ACT – .........................Custodian.........................
	TEN ENT

	 	-
	 	as tenants by the entireties
	 	 	 	     (Cust)
	 	(Minor)
	JT TEN	 	-	 	as joint tenants with right of	 	 	 	under Uniform Gifts to Minors
	 	 	 	 	survivorship and not as tenants	 	 	 	Act.........................
	 	 	 	 	in common	 	 	 	          (State)

Additional abbreviations may also be used though not in the above list.

For value received,                      hereby sell, assign and transfer unto

PLEASE INSERT SOCIAL SECURITY OR OTHER

IDENTIFYING NUMBER OF ASSIGNEE

      

 

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)

 

 

              
               
              
               
       
              
              
       
             
             
              
               
               
   shares represented by the within certificate, and do hereby irrevocably
constitute and appoint

     
                
             
             
              
          
             
        
             
             
              
           
             
             
    Attorney to transfer the said shares on the books of the within named
Company with full power of substitution in the premises.

Dated             
             
             
             
             
             
             
             

	 	 	 
	NOTICE:

	 	THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF
THE CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.

Signature(s) Guaranteed:

 
 THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS,
STOCKBROKERS, SAVINGS ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED
SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15.

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	AMERICAN BANK NOTE COMPANY
	 	 	 	 	 	PRODUCTION COORDINATOR: MIKE PETERS 931-490-1714	 
	 	 	 	 	 	 	 	 
	 	711 ARMSTRONG LANE
	 	 	 	 	 	PROOF OF: APRIL 13, 2006	 
	 	 	 	 	 	 	 	 
	 	COLUMBIA, TENNESSEE 38401
	 	 	 	 	 	ALLIED WORLD ASSURANCE COMPANY HOLDINGS, LTD.	 
	 	 	 	 	 	 	 	 
	 	(931) 388-3003
	 	 	 	 	 	TSB 23117 BK	 
	 	 	 	 	 	 	 	 
	 	SALES: RICHARD JOHNS 212-2629-0339 X 1
	 	 	 	 	 	OPERATOR: Ron/Teresa	 
	 	 	 	 	 	 	 	 
	 	7 / LIVE JOBS / A / ALLIED WORLD
23117 BK
	 	 	 	 	 	REV. 1	 
	 	 	 	 	 	 	 	 

	 	 	PLEASE INITIAL THE APPROPRIATE SELECTION FOR THIS PROOF:
     AS IS       MAKE CHANGES AND SEND ANOTHER PROOF<PAGE>

                                                                    Exhibit 10.5

                               TERMINATION CONSENT

          This Termination Consent (this "Consent") is made as of this ___ day
of ________, 2006, by the shareholders named on Schedule I attached hereto (the
"Shareholders").

          Reference is made to that certain Shareholders Agreement, dated as of
November 21, 2001, as amended, by and among Allied World Assurance Company
Holdings, Ltd, a company incorporated under the laws of Bermuda (the "Company"),
and the shareholders named therein (the "Shareholders Agreement").

          The undersigned hereby consent that the Shareholders Agreement is
terminated and shall be of no further force or effect, effective immediately
prior to the closing of the Company's underwritten initial public offering of
its securities (the "IPO"). If the IPO shall not occur, then the Shareholders
Agreement shall not terminate and this Consent will be automatically withdrawn
and will cease to have any effect.

          IN WITNESS WHEREOF, the Shareholders have executed this Consent as of
the date first written above.

SHAREHOLDERS

By:
    ------------------------------------
Name: Scott A. Carmilani
Title: Attorney-in-fact for each
       Shareholder listed on the
       attached Schedule I, pursuant to
       the respective powers of attorney
       granted by each Shareholder

By:
    ------------------------------------
Name: Wesley D. Dupont
Title: Attorney-in-fact for each
       Shareholder listed on the
       attached Schedule I, pursuant to
       the respective powers of attorney
       granted by each Shareholder

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