Document:

Exhibit 10.1

    CONSULTING AGREEMENT

    THIS CONSULTING AGREEMENT (this "Agreement") is made this 22nd day of December 2008, by and between Destination Television, Inc., having an office at 530 N. Federal Highway, Ft. Lauderdale, FL 33301, hereinafter referred to as "the Client" and Westport Strategic Partners, Inc., having an office at 110 E. Broward Blvd., Suite 1700, Ft. Lauderdale, Florida 33301, hereinafter referred to as "the Consultant."

    WITNESSETH:

    WHEREAS, the Client wishes to retain the services of the Consultant for the period provided in this Agreement, and the Consultant is willing to provide its services to the Client for the period under the terms and conditions hereinafter provided.

    NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth, the parties hereto agree as follows:

    1. Appointment

    Client hereby appoints and engages Consultant as its advisor on a non-exclusive third party and non-agency basis to provide the services described in paragraph 2 herein, pursuant to the terms and conditions of this Agreement.  Consultant accepts such engagement and agrees to perform the services upon the terms and conditions of this Agreement.

    2.  Authority and Description of Services

    During the term of this Agreement, Consultant shall furnish some or all of the various services from time to time as requested by the Client and agreed upon by the parties as described below:

    	Provide an independent research report and summary PowerPoint presentation, written by a qualified Chartered Financial Analyst (CFA), which is distributed to a combination of broker-dealers, institutions, or micro and small-cap funds.  Provide a listing of interested recipients of the research report to the Client and assist the Client in coordinating appointments with any interested recipient.
	Provide the necessary updates on the report and PowerPoint over the term of the Agreement as seen fit by the Client and the appointed CFA.
	Assist Client’s internal PR department or outside PR firms with making the report available for public access.  Any coordination of efforts will be approved by the Client before any communication between Consultant and any outside firm.
	Provide comprehensive and strategic M&A advisory services that includes:

    
      ·  Acquisition Due Diligence

      ·  Business Valuations and Evaluations

      ·  Analysis of potential candidates for a merger or acquisition

      ·  Transaction Structuring

      ·  Merger Integration

      ·  Post-Merger Integration

    

    Consultant shall not be required to perform any investment banking related activities on behalf of Client as a condition of this Agreement. For the purposes of this Agreement investment-banking activities shall be defined as being any of the following:

    i.    The location, negotiation and/or securing of public or private debt for Client.

    ii.   The location, negotiation and/or securing of any public or private equity for Client.

    iii.   The production of any documentation that is to be utilized for the sole purpose and activity as relating to subheadings (1) and (2) above.

    iv.   Any other activities as may normally be associated with the practice of investment banking.

    3. Term of Agreement

    This Agreement shall become effective upon execution hereof and shall continue thereafter and remain in effect for a period of one (1) year. Thereafter, this Agreement shall automatically renew for successive one-month periods unless either party gives at least 10-business days written notice prior to the expiration of the then current period that it does not wish for this Agreement to extend for an additional one-month period.  It is expressly acknowledged and agreed by and between the parties hereto that Consultant shall not be obligated to provide any services and/or perform any work related to this Agreement until such time any agreed consideration, has been received by Consultant as outlined on Addendum "A". Time is of the essence with respect to payment by Client to Consultant.

    4.  Where Services Shall be Performed

    Consultant's services shall be performed at the main office location of Consultant or other such designated location(s) as Consultant and Client agree are the most advantageous for the work to be performed.

    5.  Limitations on Services

    The parties hereto recognize that certain responsibilities and obligations are imposed by Federal and state securities laws and by the applicable rules and regulations of stock exchanges, the Financial Industry Regulatory Authority, in-house "due diligence" or "compliance" departments of brokerage houses, etc.  Accordingly, Consultant agrees as follows:

    a.   Consultant shall NOT release any financial or other information or data about Client without the consent and approval of Client.

    b.   Consultant shall NOT conduct any meetings with financial analysts without informing Client in advance of any proposed meeting; the format or agenda of such meeting and Client may elect to have a representative of Client attend such meeting.

    c.   Consultant shall NOT release any information or data about Client to any selected or limited person(s), entity, or group if Consultant is aware that such information or data has not been generally released or promulgated and Client requests in writing that said information or data is not to be so released or promulgated.

    6.  Duties of Client

    a.  Client shall supply Consultant, on a regular and timely basis with all approved data and information about Client, its management, its products, and its operations and Client shall be responsible for advising Consultant of any facts which would affect the accuracy of any prior data and information previously supplied to Consultant so that Consultant may take corrective action.

    b.  Client shall promptly supply Consultant with full and complete copies of all filings with all Federal and state securities agencies; with full and complete copies of all shareholder reports and communications whether or not prepared with Consultant's assistance; with all data and information supplied to any analyst, broker-dealer, market maker, or other member of the financial community; and with all product/service brochures, sales materials, etc.  Client shall supply to Consultant, within fifteen (15) days of execution of this Agreement, a complete list of all stockbrokers and market makers active in the stock of Client.

    c.  Consultant reports are not intended to be used in the sale or offering of securities.  Accordingly, Client, by the execution hereof agrees to each of the points listed below and to indemnify and hold Consultant harmless for any breach of these representations and covenants.

    i.  Client will keep Consultant apprised of the progress of any offering and notify Consultant in writing a minimum of thirty (30) days prior to making any private or public offering of securities, including but not limited to S-8 filing or Regulation S unless prohibited by Federal Securities laws.

    ii. Client will keep Consultant apprised of any current or anticipated "Quiet Periods" subject to U.S. Federal securities laws.

    iii. Client will not use Consultant’s research reports regarding the Client in connection with any offering of securities without the prior written consent of Consultant.

    d.   In that Consultant shareholders, officers, employees, and/or members of their families may hold a position in and engage in transactions with respect to Client securities, and in light of the fact that Consultant imposes restrictions on such transactions to guard against trading on the basis of material nonpublic information, Client shall contemporaneously notify Consultant if any information or data being supplied to Consultant has not been generally released or promulgated.

    7. Representation and Undertakings

    a. Client shall be deemed to make a continuing representation of the accuracy of any and all material facts; material, information and data which it supplies to Consultant and Client acknowledges its awareness that Consultant will rely on such continuing representation in disseminating such information and otherwise performing its functions hereunder.

    b.  Consultant, in the absence of notice in writing from Client, will rely on the continuing accuracy of material, information and data supplied by Client.

    c.  Client hereby authorizes Consultant to issue, in Consultant's sole discretion, after notice to and approval by Client, corrective, amendatory, supplemental, or explanatory press releases, shareholder communications and reports or data supplied to analysts, broker-dealers, market makers, or other members of the financial community.

    d.  Client shall cooperate fully and timely with Consultant to enable Consultant to perform its duties and obligations under this Agreement.

    e.   The execution and performance of this Agreement by Client has been duly authorized by the Board of Directors of Destination Television, Inc. in accordance with applicable law, and, to the extent required, by the requisite number of shareholders of Client.

    f.   The performance by Client of this Agreement will not violate any applicable court decree or order, law or regulation, nor will it violate any provision of the organizational documents and/or bylaws of Client or any contractual obligation by which Client may be bound.

    g.  Consultant activities pursuant to this Agreement or as contemplated by this Agreement do not constitute and shall not constitute acting as a securities broker or dealer under Federal or state securities laws; any contract between Client and a potential investor in Client shall be such that Consultant would be acting merely as an advisor with respect to such prospective investor obligations under this Agreement.

    h.  Client shall promptly deliver to Consultant a complete due diligence package to include latest 10K, latest 10Q, if any, last six (6) months of press releases and all other relevant materials, including but not limited to corporate reports, brochures, etc.

    i.  Client shall act diligently and promptly in reviewing materials submitted to it by Consultant to enhance timely distribution of the materials and shall inform Consultant of any inaccuracies contained therein within a reasonable time prior to the projected or known publication date.

    j.   Client shall be aware that it may take up to 60 days from the time the Consultant receives the complete list of requested due diligence materials before the report will be available for initial review.

    k.  Client acknowledges that the report provided by the analyst is not a buy/sell recommendation or price target recommendation.

    l.  Client acknowledges that the analyst has the right to distribute the report to their respective organizations and associations.

    m. Client acknowledges that the Consultant may not be held responsible by the company or its shareholders for any misuse or non-approved distribution of the Consultant’s research report by any third party, or in conjunction with any promotional efforts as deemed by the FINRA, Securities and Exchange Commission, or any other regulatory body.

    8.  Representation and Indemnification of Consultant

    a. The execution and performance of this Agreement by Consultant has been duly authorized by the Board of Directors of Consultant in accordance with applicable law, and, to the extent required, by the requisite number of shareholders of Consultant.

    b. The performance by Client of this Agreement will not violate any applicable court decree or order, law or regulation, nor will it violate any provision of the organizational documents and/or bylaws of Client or any contractual obligation by which Client may be bound.

    c. Consultant's activities pursuant to this Agreement or as contemplated by this Consulting Agreement do not constitute and shall not constitute acting as a securities broker or dealer under Federal or state securities laws.

    d. Consultant shall be diligent in the performance of its duties under this Agreement and further represents and warrants that it shall always perform such duties in a timely manner.

    9.  Confidentiality

    The term "Confidential Information" means any and all information concerning any aspect of the Client not generally known to persons other than those associated with the Client including, but not limited to data, concepts, processes and techniques, trade secrets, business strategies and financial information.  The Client may disclose, in writing or orally, to the Consultant certain Confidential Information. 

    The Consultant acknowledges and agrees that the Confidential Information disclosed to the Consultant in the strictest confidence any Confidential Information disclosed to the Consultant in any form whatsoever is and shall be considered confidential and proprietary information of the Client.

    Except as authorized by the Client, the Consultant will not:

    a.   duplicate, transfer or disclose nor allow any other person to duplicate, transfer or disclose any of the Client's Confidential Information;

    b.   use the Client's Confidential Information without the prior written consent of the Client; or

    c.    incorporate, in whole or in part, within any domestic or foreign patent application any proprietary or Confidential Information disclosed by the Client.

    The Consultant will safeguard all Confidential Information at all times so that it is not exposed to or used by unauthorized persons, and will exercise at least the same degree of care used to protect the Consultant's own Confidential Information.

    Any and all notes, diagrams, reports, notebook pages, memoranda, and like materials received from the Client and any copies or excerpts thereof containing proprietary or Confidential Information will remain the property of the Client and will, upon the request of the Client, be promptly returned to the Client.

    The restrictive obligations set forth above shall not apply to the disclosure or use of any information which:

    a.   is or later becomes publicly known under circumstances involving no breach of this Agreement by the Consultant;

    b.   is already known to the Consultant at the time of receipt of the Confidential Information;

    c.   is lawfully made available to the Consultant by a third party; or

    d.   is independently developed by an employee of the Consultant who has not been privy to the Confidential Information provided by the Client.

    No licenses are granted by this Agreement.  The disclosure of Confidential Information under this Agreement shall not result in any obligation for either party to grant any rights in its patent rights or Confidential Information, and no other obligations of any kind are assumed by or implied against either party, except for those stated in this Agreement. 

    10.  Mutual Indemnifications

    Each of the Client and the Consultant agree that they will indemnify and hold harmless each other, their respective affiliates, control persons, officers, directors, employees and agents and each person who controls each of them within the meaning of Section 15 of the Securities Act of 1933 or Section 20 of the Securities Exchange Act of 1934 (the Consultant or the Client, as the case may be, and each such entity and person being hereinafter called an "Indemnified Party") from and against any and all losses, claims, damages, liabilities, costs or expenses (including reasonable attorneys’ and accountants’ fees) as incurred, to which such Indemnified Party may become subject which are (a) related to or arise out of actions taken or omitted to be taken (including any untrue statements made or any statements omitted to be made) by an Indemnified Party with the Client’s or the Consultant’s consent or in conformity with the instructions of, or actions taken or omitted to be taken by the Client or the Consultant or (b) otherwise related to or arising out of each party’s action pursuant to this Agreement.  The Client and the Consultant, as the case may be, also agree to reimburse each Indemnified Party within thirty (30) days of submission of an invoice with respect thereto for all expenses incurred (including fees and disbursements of counsel) in connection with the investigation of or the preparation for or defense of any pending or threatened formal or informal claim, action, investigation or other proceeding caused by or arising out of or in connection with the Consultant’s or the Client’s actions pursuant to this Agreement, whether or not the Consultant or the Client, as the case may be, is named party thereto and whether or not any liability results therefrom.  The Client or the Consultant, as the case may be, will not be responsible, however, for any loss, claim, damage or liability for which indemnification is sought solely pursuant to the first sentence of this paragraph which a court of competent jurisdiction shall have determined by a final judgment to have resulted primarily from willful misconduct or gross negligence on the part of the Indemnified Party seeking indemnification hereunder.

    Promptly after receipt by any Indemnified Party of notice of any complaint or the commencement of any action or proceeding in connection with any matter related to a party’s activities pursuant to the letter agreement, such party will notify the Client or the Consultant, as the case may be, in writing, of such complaint or of the commencement of such action or proceeding and if the Client or the Consultant so elects or is requested by the other party, the Client or the Consultant, as the case may be, will assume the defense of such action or proceeding, including the employment of counsel reasonably satisfactory to the other party and the payment of the fees and disbursements of such counsel, in which event the Client or the Consultant, as the case may be, shall not be obligated to pay the fees and disbursements of separate counsel for the other party in such action.  However, failure by the other party to so notify the Client or the Consultant, as the case may be, of such claim or such commencement shall not relieve the Client or the Consultant, as the case may be, from any obligation hereunder except to the extent that such failure shall result in prejudice to the Client or the Consultant, as the case may be.  In the event, however, that the other party’s legal counsel shall determine that defenses may be available to an Indemnified Party that are different from or in addition to those available to the Client or the Consultant, as the case may be, or that there is or could reasonably be expected to be a conflict of interest by reason of the Client or Consultant, as the case may be, and an Indemnified Party having common counsel in any action or proceeding, or if the Client or the Consultant, as the case may be, has not assumed the defense of any action or proceeding, or if the Client has not assumed the defense of any action or proceeding, then the other party may employ separate counsel to represent or defend it or any Indemnified Party in any such action or proceeding in which it or such Indemnified Party may become involved or is named as defendant and the Client or the Consultant, as the case may be, shall pay the fees and disbursements, as incurred by such separate counsel; provided that the Client shall not be obligated to pay the fees and disbursements of more than one such separate counsel for any one such action or proceeding in any one jurisdiction.

    The reimbursement, indemnity and contribution obligations of the Client or the Consultant, as the case may be, under this paragraph shall be in addition to any liability which the Client or the Consultant, as the case may be, may otherwise have and shall be binding upon and inure to the benefit of any successors, assigns, heirs and personal representatives of the Client, the Consultant and any such person.  The provisions of this Section 9 shall survive the termination and expiration of this Agreement.

    11.  Agreement not to Hire

    Client acknowledges that Consultant has expended considerable time, effort and expense in training the respective employees of Consultant in the methods of operation, and that the employees of Consultant will acquire confidential knowledge and information as to accounts, customers and business patrons, as well as confidential knowledge and information concerning the methods, forms, contracts and negotiations of Consultant.  Client agrees not to employ any employee of Consultant for a period of twelve months from the expiration or termination of this Contract, without the written consent of Consultant.

    12.  Compensation

    a.  Compensation payable to Consultant for all general investor relations services and other services hereunder, including but not limited to acquisition and merger services, shall be paid by Client to Consultant by the means and in the manner or manners as described in "Addendum A", a copy of which is attached hereto and incorporated herein by this reference.

    b.   For all special services, not within the scope of this Consulting Agreement, Client shall pay to Consultant such fee(s) as, and when, the parties shall determine in advance of performance of said special services, provided Client has agreed to said special services.

    13.  Issuance of the Shares

    The Consultant acknowledges and agrees that the shares in the common stock of the Client (the "Shares") will be offered and sold to the Consultant without such offer and sale being registered under the Securities Act and will be issued to the Consultant in a transaction exempt from the registration requirements of the Securities Act pursuant to Section 4(2) and Rule 506 of Regulation D of the Securities Act based on the representations and warranties of the Consultant in this Agreement.  As such, the Consultant further acknowledges and agrees that the Client Shares will, upon issuance, be "restricted securities" within the meaning of the Securities Act.  The Consultant acknowledges and agrees that all certificates representing the Client Shares will be endorsed with the following legend, or such similar legend as deemed advisable by legal counsel for the Client, to ensure compliance with the Securities Act and to reflect the status of the Client Shares as restricted securities:

    "THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE "ACT"), AND HAVE BEEN ISSUED IN RELIANCE UPON AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE ACT.  SUCH SECURITIES MAY NOT BE REOFFERED FOR SALE OR RESOLD OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION UNDER THE ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION UNDER THE ACT."

    The Consultant acknowledges that the Client Shares may not be offered, resold, pledged or otherwise transferred except through an exemption from registration under the Securities Act or pursuant to an effective registration statement under the Securities Act and in accordance with all applicable state securities laws and the laws of any other jurisdiction.  The Consultant agrees to resell the Client Shares only pursuant to registration under the Securities Act, or pursuant to an available exemption from registration pursuant to the Securities Act.  The Consultant agrees that the Client may refuse to register any transfer of the Client Shares not made in accordance with the provisions of Regulation S of the Securities Act, pursuant to registration under the Securities Act, pursuant to an available exemption from registration.  The Consultant agrees that the Client may require the opinion of legal counsel reasonably acceptable to the Client in the event of any offer, sale, pledge or transfer of any of the Client Shares by the Consultant pursuant to an exemption from registration under the Securities Act.

    Accredited Investor Status - the Consultant is an "accredited investor", as defined in Rule 501(a) of Regulation D of the Securities Act,

    Status as a Sophisticated Investor – the Consultant has such knowledge, sophistication and experience in business and financial matters such that it is capable of evaluating the merits and risks of the investment in the Client Shares.  The Consultant has evaluated the merits and risks of an investment in the Client Shares.  The Consultant can bear the economic risk of this investment, and is able to afford a complete loss of this investment,

    Acquisition for Investment – the Client Shares to be issued to the Consultant will be acquired by the Consultant for investment for the Consultant’s own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and that the Consultant has no present intention of selling, granting any participation in, or otherwise distributing the same.  The Consultant does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to any of the Client Shares,

    Information Regarding the Client – the Consultant has had full opportunity to ask questions and receive answers from representatives of the Client regarding the business, properties, prospects and financial condition of the Client, each as is necessary to evaluate the merits and risks of investing in the Client Shares.  The Consultant believes it has received all the information it considers necessary or appropriate for deciding whether to purchase the Client Shares.  The Consultant has had full opportunity to discuss this information with the Consultant’s legal and financial advisers before execution of this Agreement, and

    Reliance by Client on Representations – the Consultant acknowledges that the Client will rely on these representations in completing the issuance of the Client Shares to the Consultant.

    14.  Intentionally Omitted

    15.  Amendment

    Client will not, by Amendment to its Certificate of Incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance of any term of this Agreement.

    16.  Consultant as an Independent Contractor

    Consultant shall provide said services as an independent contractor, and not as an employee or of any Client affiliated with Client.  Consultant has no authority to bind Client or any affiliate of Client to any legal action, contract, agreement, or purchase, and such action cannot be construed to be made in good faith or with the acceptance of Client; thereby becoming the sole responsibility of Consultant.  Consultant is not entitled to any medical coverage, life insurance, savings plans, health insurance, or any and all other benefits afforded Client employees.  Consultant shall be solely responsible for any Federal, State or local taxes, and should Client for any reason be required to pay taxes at a later date, Consultant shall reassure such payment is made by Consultant and not by Client.  Consultant shall be responsible for all workers compensation payments and herein holds Client harmless for any and all such payments and responsibilities related hereto.

    The Parties acknowledge that the Consultant is not and will not be at any time during the term of this Agreement and after payment of the Compensation set out herein an insider, associate or affiliate or control person of the Client as those terms are defined under applicable securities laws.

    17.  Consultant May Engage in Other Activities

    Client hereby acknowledges notification by Consultant and understands that Consultant does, and shall, represent and service other and multiple clients in the same manner as it does Client, and that Client is not an exclusive client of Consultant.

    18.  Amendments

    This Agreement may be modified or amended, provided such modifications or amendments are mutually agreed upon by and between the parties hereto and that said modifications or amendments are made in writing and signed by both parties.

    19.  Severability

    If any provision of this Agreement shall be held to be contrary to law, invalid or unenforceable for any reason, the remaining provisions shall continue to be valid and enforceable.  If a court finds that any provision of this Agreement is contrary to law, invalid or unenforceable, and that by limiting such provision it would become valid and enforceable, then such provision shall be deemed to be written, construed, and enforced as so limited.

    20.  Termination of Agreement

    This Agreement may not be terminated by either party prior to the expiration of the term provided in paragraph 3 above except as follows:

    a.  Upon the bankruptcy or liquidation of the other party; whether voluntary or involuntary;

    b.  Upon the other party taking the benefit of any insolvency law;

    c.   Upon the other party having or applying for a receiver appointed for either party;

    d.   Upon the one-year anniversary date of this Consulting Agreement provided that the Client provides Consultant at least 10-business days written notice that the Client does not want to extend contract on a month-to-month basis; and/or

    e.   As provided for in paragraph 23 below.

    21.  Arbitration

    The parties agree to submit any controversy or claim arising out of, or relating to any provision(s) of the Agreement, or breach thereof, to binding Commercial Arbitration Rules of the American Arbitration Association of the state of incorporation of the client.  Judgment upon the award rendered by the arbitrator(s) shall be final and binding on the parties and may be entered by either party in any court or forum, state or federal, having jurisdiction. If legal action is taken to enforce this Agreement, the prevailing party shall be entitled to recover reasonable attorney fees, interest, if applicable, plus arbitration cost for the expense of collection or defense of the action.

    22.  Non-waiver

    The failure of either party, at any time, to require any such performance by any other party shall not be construed as a waiver of such right to require such performance, and shall in no way affect such party's right to require such performance and shall in no way affect such party's right subsequently to require full performance hereunder.

    23.  Early Termination

    In the event Client fails or refuses to fulfill its duties as required in Section 6 and 7 hereof or fails or refuses to make timely payment of the compensation set forth above, Consultant shall have the right to terminate any further performance under this Agreement.  In such event, and upon notification thereof, all compensation shall become immediately due and payable and/or deliverable, and Consultant shall be entitled to receive and retain the same as liquidated damages and not as a penalty, in lieu of all other remedies the parties hereby acknowledge and agree that it would be too difficult currently to determine the exact extent of Consultant's damages, but that the receipt and retention of such compensation is a reasonable present estimate of such damage.  Furthermore, Client acknowledges that if Consultant must retain legal representation or a collection agency to collect the compensation, Client will undertake the associated costs of collection.

    24.  Limitation of Consultant Liability

    In the event Consultant fails to perform its work or services hereunder (which does not include a breach of Section 5 above), its entire liability to Client shall not exceed the amount of stock and other compensation Consultant has received from Client under Addendum A.  Except in the case of a breach of Section 5 above or any unauthorized alteration of information provided by Client to Consultant, Consultant shall not be liable to Client for any indirect, special or consequential damages, nor for any claim against Client by any person or entity arising from or in any way related to this Consulting Agreement. 

    25.  Ownership of Materials

    All right, title and interest in and to materials to be produced by Consultant in connection with this Consulting Agreement and other services to be rendered under said Consulting Agreement shall be the sole and exclusive property of Client; provided, however, that Client shall use Consultant’s research reports produced by Consultant pursuant hereto only as fully produced and presented to Client and it shall not reproduce such reports except for reproductions that are done in full. 

    26.  Miscellaneous

    a.   Effective date of representations shall be no later than the date of execution by the parties of this Agreement.

    b.  This Agreement shall be governed by the laws of the State of Florida, without giving effect to any conflicts of laws principles.

    c.   This Agreement may be executed in counterpart and such counterparts together shall constitute one and the same instrument and notwithstanding the date of execution shall be deemed to bear the date as set out on the first page of this Agreement.

    27.  Notices

    All notices hereunder shall be in writing and addressed to the party at the address herein set forth, or at such other address which notice pursuant to this section may be given, and shall be given by either personal delivery, certified mail, express mail or other national or three (3) business days after being mailed or delivered to such courier service.  Any notices to be given hereunder shall be effective if executed by and sent by the attorneys for the parties giving such notice, and in connection therewith the parties and their respective counsel agree that in giving such notice such counsel may communicate directly in writing with such parties to the extent necessary to give such notice.  Any notice required or permitted by this Consulting Agreement to be given shall be given to the respective parties at the address first written above, on page one (1) of this Consulting Agreement.

    28.  Parent and Subsidiary Companies or Entities

    This Agreement applies to all parent, subsidiary or affiliate companies of Client.

    29.  Exclusion with Respect to Partnership

    The parties agree that, in no way, shall this Agreement be construed as being an act of partnership between the parties hereto and that no party hereto shall have, as a result of the execution of this Agreement, any liability for the commitments of any other party of any type, kind or sort.

    30.  Inurement

    This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, executors, administrators, personal representatives, successors, and assigns.

    31.  Entire Agreement

    This Agreement and the Addendums attached hereto contain the entire agreement of the parties and may be modified or amended only by agreement in writing, signed by the party against whom enforcement of any waiver, change, amendment, modification, extension or discharge is sought.  It is declared by both parties that there are no oral or other agreements or understanding between them affecting this Agreement, or relating to the business of Consultant.  This Agreement supersedes all previous agreements between Consultant and Client.

    32.  Disclaimer

    Consultant is not being retained to perform accounting or legal services on behalf of Client.  Consultant is not licensed as a stock or securities broker and is not in the business of selling such stocks or securities or advising as to the investment viability or worth of such stocks or securities.  It is the responsibility of Client to obtain advice of counsel and approve all materials published by Consultant to ensure compliance with Federal and state securities laws applicable to the activities of Client.

    33.  Non-Assignability

    This Agreement shall not be assigned by either party to this Agreement without the prior written consent of the other party to this Agreement.

    IN WITNESS WHEREOF, the parties hereto, intending to be legally bound, have executed this Agreement.

         Destination Television, Inc.                                                  Westport Strategic Partners, Inc.

    By:__/s/ Gordon Scott Venters  12/22/08                                  By:  /s/ Joseph Safina 12/22/08       

         Gordon Scott Venters                                                             Joseph Safina

      

    

     ADDENDUM A

    Compensation

    The Client hereby agrees to issue the Consultant (or its assigned designees)

    
      10,000,000 shares of Destination Television, Inc. common stock,

      Stock Options to acquire 5,000,000 shares of Destination Television, Inc. common stock at $0.02 per share with an  expiration date of December 22, 2011

      Stock Options to acquire 5,000,000 shares of Destination Television, Inc. common stock at $0.05 per share with an expiration date of December 22, 2011

    

     It shall be fully noted by both the Client and the Consultant that the Shares and Options are considered earned at the time of the execution of this Agreement.AMENDED AND RESTATED EMPLOYMENT AGREEMENT

             

            This Amended and Restated Employment Agreement (this “Agreement”), is dated as of December 22, 2008 and is entered into between Endurance Specialty Holdings Ltd. (the “Company”), and Kenneth J. LeStrange (the “Executive”).

             

            WHEREAS, the Company and the Executive entered into an Employment Agreement, dated as of May 31, 2007 (the “Original Employment Agreement”) in order to embody the terms of the Executive’s continued employment; and

             

            WHEREAS, the Company and the Executive desire to amend and restate the Original Employment Agreement and the Executive desires to enter into this Agreement in order to revise the terms and provisions of the Original Employment Agreement.

             

            NOW, THEREFORE, in consideration of the premises and the mutual agreements contained herein, the Company and the Executive hereby agree as follows:

             

            ARTICLE I.

             

            Definitions

             

            1.1 “Board” shall mean the Board of Directors of the Company.

             

            1.2 “Business” shall mean the brokerage, underwriting, advising or consulting of or with respect to any line of property or casualty insurance or reinsurance underwritten by the Company or any of its divisions, subsidiaries or affiliates as an insurer or reinsurer during the Term.

             

            1.3 "Cause" shall mean:

             

            (a) any willful and material act of fraud, embezzlement or theft by the Executive in connection with his duties hereunder or in the course of his employment hereunder or the Executive's admission or conviction of, or plea of nolo contendere to either, (i) a felony or (ii) a misdemeanor involving moral turpitude, fraud, embezzlement, theft or
            misrepresentation;

             

            (b) any gross negligence or willful misconduct of the Executive resulting in a demonstrable and material economic loss to the Company or any of its subsidiaries;

             

            (c) any willful breach by the Executive of any one or more of the covenants contained in Section 5.2, 5.3, 5.4 or 5.5 hereof, provided the Executive has received 15 calendar days’ prior written notice of such breach in accordance with Section 7.3 of this Agreement; or

             

            (d) any willful and material violation of any statutory or common law duty of loyalty to the Company or any of its subsidiaries. For purposes of determining Cause, no act or failure to act on the Executive’s part shall be

             

            
                

            

            deemed “willful” unless done, or omitted to be done, by the Executive not in good faith and without reasonable belief that the Executive’s act, or failure to act, was in the best interest of the Company.

             

            1.4 “Change in Control” shall mean:

             

            (a) the acquisition by any individual, entity or group (a "Person"), including any "person" within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), of beneficial ownership within the meaning of Rule 13d-3 promulgated under the Exchange Act, of 50% or more of either (i) the then
            outstanding ordinary shares, par value $1.00 per share, of the Company (the "Outstanding Ordinary Shares") or (ii) the combined voting power of the then outstanding securities of the Company entitled to vote generally in the election of directors pursuant to the Bye-Laws of the Company (the "Outstanding Voting Securities"); excluding, however, the following: (A) any acquisition
            directly from the Company (excluding any acquisition resulting from the exercise of an exercise, conversion or exchange privilege unless the security being so exercised, converted or exchanged was acquired directly from the Company), (B) any acquisition by the Company, (C) any acquisition by an employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company or (D) any acquisition by any corporation pursuant to a
            transaction which complies with clauses (i), (ii) and (iii) of subsection (c) of this definition of Change in Control; provided, further, that for purposes of clause (B), if any Person (other than the Company or any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company) shall become the beneficial owner of 50% or
            more of the Outstanding Ordinary Shares or 50% or more of the Outstanding Voting Securities by reason of an acquisition by the Company, and such Person shall, after such acquisition by the Company, become the beneficial owner of any additional Outstanding Ordinary Shares or any additional Outstanding Voting Securities and such beneficial ownership is publicly announced, such additional beneficial ownership shall constitute a Change in Control;

             

            (b) individuals who, as of the date hereof, constitute the Board (the "Incumbent Board") cease for any reason to constitute at least a majority of such Board within a 24 month period; provided, that any individual who becomes a director of the Company subsequent to the date hereof whose election, or nomination for
            election by the Company's shareholders, was approved by the vote of at least a majority of the directors then comprising the Incumbent Board shall be deemed a member of the Incumbent Board; and provided, further, that any individual who was initially elected as a director of the Company as a result of an actual or threatened solicitation by a Person other than the Board for the
            purpose of opposing a solicitation by any other Person with respect to the election or removal of directors, or any other actual or threatened solicitation of proxies or consents by or on behalf of any Person other than the Board shall not be deemed a member of the Incumbent Board;

             

            
                

                 

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            (c) the consummation of a reorganization, amalgamation, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company (a "Corporate Transaction"); excluding, however, a Corporate Transaction pursuant to which (i) all
            or substantially all of the individuals or entities who are the beneficial owners, respectively, of the Outstanding Ordinary Shares and the Outstanding Voting Securities immediately prior to such Corporate Transaction will beneficially own, directly or indirectly, more than 55% of, respectively, the outstanding shares of common stock, and the combined voting power of the outstanding securities entitled to vote generally in the election of directors, as the case may be, of the
            corporation resulting from such Corporate Transaction (including, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the Company's assets either directly or indirectly) in substantially the same proportions relative to each other as their ownership, immediately prior to such Corporate Transaction, of the Outstanding Ordinary Shares and the Outstanding Voting Securities, as the case may be, (ii) no Person (other
            than: the Company; any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company; the corporation resulting from such Corporate Transaction; and any Person which beneficially owned, immediately prior to such Corporate Transaction, directly or indirectly, 50% or more of the Outstanding Ordinary Shares or the Outstanding Voting Securities, as the case may be) will beneficially own, directly or indirectly, 50% or more
            of, respectively, the outstanding shares of common stock of the corporation resulting from such Corporate Transaction or the combined voting power of the outstanding securities of such corporation entitled to vote generally in the election of directors and (iii) individuals who were members of the Incumbent Board will constitute at least a majority of the members of the board of directors of the corporation resulting from such Corporate Transaction; or

             

            (d) the consummation of a plan of complete liquidation or dissolution of the Company.

             

            1.5 “Change in Control Period” shall mean the period commencing six months prior to the date of a Change in Control and ending on the second annual anniversary of the date of a Change in Control.

             

            1.6 “Code” means the Internal Revenue Code of 1986, as amended.

             

            1.7 “Confidential Information” shall mean any confidential or proprietary information, trade secrets, customer lists, drawings, designs, information regarding product development, marketing plans, sales plans, manufacturing plans, management organization information, operating policies or manuals, business plans,
            financial records, packaging design or other financial, commercial, business or technical information relating to the Company or any of its divisions, subsidiaries or affiliates, or that the Company or any of its divisions, subsidiaries or affiliates may have received belonging to suppliers, customers or others who do business with the Company or any of its divisions, subsidiaries or affiliates.

             

            
                

                 

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            1.8 "Date of Separation from Service" shall mean the following:

             

            (a) if the Executive's employment is terminated for Cause, the date specified in the Notice of Separation from Service;

             

            (b) if the Executive's employment is terminated by the Executive's death, the date of the Executive's death;

             

            (c) if the Executive's employment is terminated for Disability, 15 calendar days after the Notice of Separation from Service is given (provided that the Executive shall not have returned to the full-time performance of the Executive's duties during such 15 calendar day period);

             

            (d) if the Executive's employment is terminated by the Executive with Good Reason, 30 calendar days after the Notice of Separation from Service is given (provided that the Company shall not have cured the event giving rise to the Executive’s right to voluntary separation from service for Good Reason during such 30 calendar day period); and

             

            (e) if the Executive's employment is terminated by the Executive or the Company for any other reason, the date specified in the Notice of Separation from Service (which, in the case of a separation from service by the Executive, shall not be less than 14 calendar days nor more than 30 calendar days from the date such Notice of Separation from Service is
            given).

             

            1.9 “Disability” shall mean any condition which (i) prevents the Executive from substantially performing his duties under this Agreement for a period of at least 120 consecutive days, or 180 non-consecutive days within any 365-day period, and (ii) causes the Executive to become eligible for the Company’s long-term
            disability plan.

             

            1.10 “Good Reason” shall mean:

             

            (a) a material diminution in the Executive’s base compensation;

             

            (b) a material diminution in the Executive’s authority, duties or responsibilities;

             

            (c) a material diminution in the authority, duties or responsibilities of the supervisor to whom the Executive is required to report, including a requirement that the Executive report to a corporate officer or employee instead of reporting directly to the Board;

             

            (d) a material diminution in the budget over which the Executive retains authority;

             

            (e) a material change in the geographic location at which the Executive must perform the services which are the subject of this Agreement; or

             

            
                

                 

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            (f) any other action or inaction that constitutes a material breach by the Company of this Agreement.

             

            1.11 “Maximum Annual Incentive Compensation Percentage” shall mean the percentage set forth as the Maximum Annual Incentive Compensation Percentage in Exhibit A, subject to adjustment from time to time by the Board; provided that any such adjustment shall not cause the sum of the Maximum Annual Incentive Compensation
            Percentage plus the Maximum Long-Term Compensation Percentage to be lower than the sum of the Maximum Annual Incentive Compensation Percentage plus the Maximum Long-Term Compensation Percentage set forth in Exhibit A.

             

            1.12 “Maximum Long-Term Incentive Compensation Percentage” shall mean the percentage set forth as the Maximum Long-Term Incentive Compensation Percentage in Exhibit A, subject to adjustment from time to time by the Board; provided that any such adjustment shall not cause the sum of the Maximum Annual Incentive
            Compensation Percentage plus the Maximum Long-Term Compensation Percentage to be lower than the sum of the Maximum Annual Incentive Compensation Percentage plus the Maximum Long-Term Compensation Percentage set forth in Exhibit A.

             

            1.13 "Notice of Separation from Service" shall mean a notice that shall indicate the specific separation from service provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for separation from service of the Executive's employment under the provision so
            indicated.

             

            1.14 “Target Annual Incentive Compensation Percentage” shall mean the percentage set forth as the Target Annual Incentive Compensation Percentage in Exhibit A, subject to adjustment from time to time by the Board; provided that any such adjustment shall not cause the sum of the Target Annual Incentive Compensation
            Percentage plus the Target Long-Term Compensation Percentage to be lower than the sum of the Target Annual Incentive Compensation Percentage plus the Target Long-Term Compensation Percentage set forth in Exhibit A.

             

            1.15 “Target Long-Term Incentive Compensation Percentage” shall mean the percentage set forth as the Target Long-Term Incentive Compensation Percentage in Exhibit A, subject to adjustment from time to time by the Board; provided that any such adjustment shall not cause the sum of the Target Annual Incentive Compensation
            Percentage plus the Target Long-Term Compensation Percentage to be lower than the sum of the Target Annual Incentive Compensation Percentage plus the Target Long-Term Compensation Percentage set forth in Exhibit A.

             

            1.16 “Term” shall mean the term of employment of the Executive with the Company, which shall commence as of the date first written above and continue until the earlier of (a) the first anniversary of the date first written above or (b) the Executive’s Date of Separation from Service, and shall be subject to
            successive one year renewals in accordance with Section 3.1.

             

            
                

                 

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            1.17 “Threshold Annual Incentive Compensation Percentage” shall mean the percentage set forth as the Threshold Annual Incentive Compensation Percentage in Exhibit A, subject to adjustment from time to time by the Board.

             

            1.18 “Threshold Long-Term Incentive Compensation Percentage” shall mean the percentage set forth as the Threshold Long-Term Incentive Compensation Percentage in Exhibit A, subject to adjustment from time to time by the Board.

             

            ARTICLE II.

             

            Employment, Duties and Responsibilities

             

            2.1 Employment. During the Term, the Company agrees to employ the Executive and the Executive hereby agrees to be employed as the Chairman of the Board, President and Chief Executive Officer of the Company upon the terms and subject to the conditions contained in this Agreement.

             

            2.2 Duties and Responsibilities. The Executive shall report exclusively to the Board. The Executive shall have such duties and responsibilities during the Term as specified by the Board. The Executive’s duties and responsibilities may be modified by the Board from time to time in a manner consistent with the Executive’s
            position. The Executive agrees to continue to serve as a director and/or officer of any subsidiary of the Company at a level commensurate with his position as may be reasonably requested by the Board.

             

            2.3 Base of Operation. The Executive’s principal base of operation for the performance of his duties and responsibilities under this Agreement shall be the offices of the Company in Pembroke, Bermuda; provided, however, that
            the Executive shall perform such duties and responsibilities outside of Pembroke, Bermuda as shall from time to time be reasonably necessary to fulfill his obligations hereunder. The Company and the Executive may at any time during the Term mutually agree to change the principal base of operation for the performance of the Executive’s duties and responsibilities. The Executive’s performance of any duties and responsibilities shall be conducted in a manner consistent with
            any tax operating guidelines promulgated from time to time by the Board.

             

            ARTICLE III.

             

            Term

             

            3.1 Term. The employment of the Executive under this Agreement shall be for the Term. The Term shall be extended for successive one-year periods as of each annual anniversary date of the date first written above (each, a “Renewal Date”) unless, with respect to any such Renewal Date, either party hereto gives the other
            party at least 90 days prior written notice of its election not to so extend the Term.

             

            ARTICLE IV.

             

            
                

                 

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            Compensation and Expenses

             

            4.1 Salary, Bonuses, Incentive Awards and Benefits. As compensation and consideration for the performance by the Executive of his obligations under this Agreement, the Executive shall be entitled, during the Term, to the following (subject, in each case, to the provisions of Article VI hereof):

             

            (a) Base Salary. During the Term, the Company shall pay to the Executive a base salary of $1,000,000 per annum, effective as of January 1, 2007 and subject to increase from time to time as determined by the Board (“Base Salary”). The Executive’s Base Salary shall be payable in accordance with
            the Company’s normal payroll procedures and shall not during the Term be reduced without the written consent of the Executive.

            (b) Annual Incentive Compensation. The Executive shall be eligible each calendar year for incentive compensation payable in cash (“Annual Incentive Compensation”), the amount of which shall be between the Threshold Annual Incentive Compensation Percentage and the Maximum Annual Incentive Compensation
            Percentage of the Executive’s Base Salary as of the immediately preceding December 31st and shall be determined by the Board. The Annual Incentive Compensation shall be based upon the performance of the Company, determined in accordance with performance criteria established by the Board (following consultation with the Executive) at the commencement of each calendar year. The performance criteria for the determination of the Executive’s Annual Incentive
            Compensation for the 2008 calendar are as set forth on Exhibit A attached hereto. The Annual Incentive Compensation payable to the Executive upon the Company attaining the target financial performance agreed by the Executive and the Board at the commencement of each calendar year shall be the Target Annual Incentive Compensation Percentage of the Executive’s Base Salary as of the immediately preceding December 31st. The Annual Incentive Compensation shall be paid to
            the Executive at the same time as annual incentive compensation is paid to other employees of the Company in accordance with the Company’s normal payroll procedures and shall be conditioned upon the Executive’s continued employment with the Company through and including the scheduled date of payment of annual incentive compensation by the Company to its employees generally.

            (c) Equity Incentive Awards. The Executive shall also be eligible each calendar year during the Term for incentive compensation in the form of equity incentive awards (the “Equity Incentive Awards”), the amount of which shall be between the Threshold Long Term Incentive Compensation Percentage and
            the Maximum Long-Term Incentive Compensation Percentage of the Executive’s Base Salary as of the immediately preceding December 31st and shall be determined by the Board. The Equity Incentive Awards shall be based upon the performance of the Company, determined in accordance with performance criteria established by the Executive and the Board at the commencement of each calendar year. The performance criteria for the determination of the Executive’s

             

            
                

                 

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            Equity Incentive Award for the 2008 calendar are as set forth on Exhibit A attached hereto. The Equity Incentive Award deliverable to the Executive upon the Company attaining the target financial performance agreed by the Executive and the Board at the commencement of each calendar year shall be the Target Long-Term Incentive Compensation Percentage of the Executive’s Base
            Salary as of the immediately preceding December 31st. The Equity Incentive Awards shall be delivered to the Executive at the same time as equity incentive awards are delivered to other employees of the Company in accordance with the Company’s normal procedures and shall be conditioned upon the Executive’s continued employment with the Company through and including the scheduled date of delivery of equity incentive awards by the Company to its employees
            generally. The Equity Incentive Awards shall be in a form determined by the Board, consistent with equity incentive awards to employees of the Company generally and shall be issued in accordance with the terms of the equity incentive plans of the Company, as amended through the date hereof and hereafter from time to time (the “Plans”). The Executive shall enter into separate award agreements with respect to such Equity Incentive Awards and his rights with respect to such
            Equity Incentive Awards shall be governed by the Plans and such award agreements.

            (d) Housing Expense Reimbursement. The Company shall reimburse the Executive for expenses relating to the rental and maintenance of the Executive’s residence in Bermuda which are properly and reasonably incurred by the Executive during the Term and are reimbursable under the Company’s housing expense
            reimbursement policy, as amended from time to time. Prior to such payment the Executive shall provide to the Company any written substantiation for such expenses requested by the Company. The maximum amount of rental and maintenance expenses the Company shall reimburse the Executive pursuant to this Section 4.1(d) shall be $200,000 per 12 month period, which maximum amount shall be prorated if the Executive’s employment with the Company terminates prior to the scheduled
            expiration of the Term.

            (e) Travel Reimbursement. During the Term, the Company shall provide the Executive in connection with business travel (to and from Bermuda and elsewhere as required) with at least 400 hours of usage of a Learjet 60 or comparable private aircraft. If a private aircraft is not available for any one or more of the
            Executive's business travels, in lieu thereof the Company shall reimburse the Executive for his cost of first class travel on a commercial airline during the Term. In connection therewith, the Executive shall be entitled to participate during the Term, at the Company's expense, in an air travel club selected by the Executive. Prior to such payment the Executive shall provide to the Company any written substantiation for such expenses requested by the Company.

            (f) Tax Gross-Up. To the extent that the Executive incurs any United States federal or state ordinary income tax liability on account of the housing expense reimbursement and travel expense reimbursement specified in Section 4.1(d) and (e) hereof, the Company shall reimburse the Executive for all such
            tax

             

            
                

                 

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            liability incurred and all United States federal and state ordinary income tax liability incurred as a result of the tax gross-up payments specified pursuant to this Section 4.1(f).

            (g) Tax Preparation Expense Reimbursement. The Company shall reimburse the Executive for the reasonable cost of the preparation of the Executive’s home country federal and state income tax returns by KPMG, or an alternate tax preparation service provider elected by the Executive and approved by the
            Company, for those calendar years falling entirely within the Term; provided that the maximum amount of tax preparation expense reimbursable by the Company pursuant to this sentence shall be $2,500 per annum. Prior to such payment the Executive shall provide to the Company any written substantiation for such expenses requested by the Company.

            (h) Benefits. The Executive shall be eligible to participate in such 401(k) savings plan, life insurance, health insurance, disability insurance and major medical insurance benefits, and in such other employee benefit plans and programs for the benefit of the employees and officers of the Company generally, as
            may be maintained from time to time during the Term, in each case to the extent and in the manner available to other employees of the Company, subject to the terms and provisions of such plan or program.

            (i) Vacation. The Executive shall be entitled to 25 paid vacation days per annum, to be taken in the Executive’s discretion, in a manner consistent with the Executive’s obligations to the Company under this Agreement. Up to a maximum of 5 accrued and unused vacation days may be carried over each
            calendar year.

            (j) Indemnification/Liability Insurance. The Company shall indemnify the Executive as required by the Bye-laws of the Company, and may maintain customary insurance policies providing for indemnification of the Executive. In addition to the foregoing, the Executive and the Company agree to enter into the
            Indemnification Agreement attached hereto as Exhibit B concurrent with the execution and delivery of this Agreement.

             

            4.2 Expenses; Other Benefits. During the Term, the Company shall provide the Executive with the following expense reimbursements and perquisites:

             

            (a) Business Expenses. The Company will reimburse the Executive for reasonable business-related expenses incurred by the Executive in connection with the performance of the Executive’s duties hereunder during the Term, subject, however, to the Company’s policies relating to business-related expenses
            as in effect from time to time.

             

            (b) Other Benefits. The Company may also provide for or withdraw other benefits for the Executive as it determines from time to time during the Term, consistent with practices governing similarly situated senior executives of the Company.

             

            
                

                 

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            4.3 Tax Withholding. The Company shall be permitted to deduct from the amounts payable to the Executive pursuant to this Agreement the amount of taxes that the Company is required to withhold pursuant to applicable laws, rules and regulations.

             

            ARTICLE V.

             

            Exclusivity, Etc.

             

            5.1 Exclusivity. The Executive agrees to devote substantially all the Executive's full working time, attention and energies during normal business hours to the performance of the Executive's duties for the Company; provided that the Executive may engage in charitable, civic or community activities, serve on corporate boards or
            committees, manage personal investments, and deliver lectures and fulfill speaking engagements, but only if, and to the extent that, such activities do not interfere with the Executive's duties hereunder or violate the terms of any of the covenants contained in Sections 5.2, 5.3, 5.4 or 5.5 hereof.

             

            5.2 Non-Competition; Non-Solicitation.

             

            (a) General. The Executive acknowledges that in the course of the Executive’s employment with the Company the Executive will become familiar with trade secrets and other confidential information concerning the Company and its subsidiaries and that the Executive’s services will be of special, unique
            and extraordinary value to the Company and its subsidiaries.

            (b) Non-Competition. The Executive agrees that during the Term and the period from the Date of Separation from Service until the 12 month anniversary of the Date of Separation from Service, the Executive shall not in any manner, directly or indirectly, through any person, firm or corporation, alone or as a
            member of a partnership or as an officer, director, stockholder, investor, broker, advisor, employee of or consultant to any other corporation or enterprise or otherwise, engage or be engaged, or assist any other person, firm, corporation or enterprise in engaging or being engaged, in the Business in any geographic area in which the Company or any of its subsidiaries is then conducting the Business.

            (c) Non-solicitation. The Executive further agrees that during the Term and the period from the Date of Separation from Service until the 12 month anniversary of the Date of Separation from Service, the Executive shall not (i) in any manner, directly or indirectly, induce or attempt to induce any employee of the
            Company or any of its divisions, subsidiaries or affiliates to terminate or abandon his or her employment for any purpose whatsoever or (ii) in connection with the Business, call on, service, solicit or otherwise do business with any customer of the Company or any of its divisions, subsidiaries or affiliates.

            (d) Exceptions. Nothing in this Section 5.2 shall prohibit the Executive from being (i) a stockholder in a mutual fund or a diversified investment company or (ii) an owner of not more than two percent of the outstanding stock

             

            
                

                 

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            of any class of a corporation, any securities of which are publicly traded, so long as the Executive has no active participation in the business of such corporation.

             

            5.3 Confidential Information.

             

            (a) General. The Executive agrees that the Executive will not, at any time during or after the Term, make use of or divulge to any other person, firm or corporation any Confidential Information which he may have learned in connection with his employment hereunder.

             

            (b) Exceptions. The Executive’s obligation under this Section 5.3 shall not apply to any information which (i) is disclosed or used during the Term by the Executive as required or appropriate in connection with his duties as Chairman, President and Chief Executive Officer of the Company, (ii) is disclosed
            as required by a court of law, by any governmental agency having supervisory authority over the business of the Company or any of its divisions, subsidiaries or affiliates or by any administrative or legislative body, including a committee thereof) with apparent jurisdiction to order the Executive to divulge, disclose or make accessible such information, (iii) is disclosed to the Executive’s spouse, attorney and/or his personal tax and financial advisors as reasonably
            necessary or appropriate to advance the Executive’s tax, financial and other personal planning (iv) is known publicly; (v) is in the public domain or hereafter enters the public domain without the fault of the Executive; (vi) is known to the Executive prior to his receipt of such information from the Company or any of its divisions, subsidiaries or affiliates, as evidenced by written records of the Executive or (vii) is hereafter disclosed to the Executive by a third party not
            under an obligation of confidence to the Company or any of its divisions, subsidiaries or affiliates.

             

            (c) Executive Obligations. The Executive agrees that he shall, immediately after he gains knowledge of any required disclosure of Confidential Information pursuant to clause (ii) of subsection (b) above, give the Company written notice promptly upon obtaining knowledge of the required disclosure of Confidential
            Information and, in any event, prior to such required disclosure of Confidential Information, and use commercially reasonable efforts to cooperate with the Company (at the Company’s sole expense) in obtaining an adequate protective order for such Confidential Information. The Executive further agrees to properly advise any recipient of Confidential Information pursuant to clause (iii) of subsection (b) above of the obligations of the Executive hereunder, to obtain the
            agreement of such recipient to be bound by the terms of this Section 5.3 as if a signatory to this Agreement and to be responsible for any breach by any such recipient of the terms of this Section 5.3. The Executive further agrees not to remove from the premises of the Company, or as applicable, the premises of any of its divisions, subsidiaries or affiliates, except as an employee of the Company in pursuit of the business of the Company, its divisions, subsidiaries or affiliates,
            or except as specifically permitted in writing by the Board, any document or other object containing or reflecting any Confidential Information. On or before the Date of Separation from Service, the Executive shall forthwith deliver to the Company all such Confidential Information, including without

             

            
                

                 

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            limitation all lists of customers, correspondence, accounts, records and any other documents or property made or held by the Executive or under the Executive’s control in relation to the business or affairs of the Company or its subsidiaries or affiliates, and no copy of any such Confidential Information shall be retained by the Executive.

             

            5.4 Inventions. The Executive hereby assigns to the Company the Executive’s entire right, title and interest in and to all discoveries and improvements, patentable or otherwise, trade secrets, proprietary ideas, trademarks, trade names, Internet domain names, writings, and copyrightable works that are conceived by the Executive
            or developed or acquired by the Executive during the Term in connection with the Executive’s employment by the Company, the Executive’s duties to the Company and the business of the Company or any of its subsidiaries or affiliates (“Developments”); provided, that the foregoing assignment shall not apply to writings and copyrightable works of a general nature about the Executive’s experience at the
            Company or about the insurance industry that are created by the Executive outside of the Executive’s duties and outside of normal working hours, subject in all cases to Section 5.3. The Executive agrees to disclose fully all such Developments to the Company upon its request, which disclosure shall be made in writing promptly following any such request. The Executive shall, upon the Company’s request, execute, acknowledge and deliver to the Company all instruments and do
            all other acts which are necessary or desirable to enable the Company or any of its subsidiaries to file and prosecute applications for, and to acquire, maintain and enforce, all patents, trademarks and copyrights in all countries.

             

            5.5 Non-Disparagement. Each party hereto acknowledges and agrees that such party will not defame or publicly criticize the services, business, integrity, veracity or personal or professional reputation of the other party and, in the case of the Company, its officers, directors, partners, employees, affiliates or agents thereof, in
            either a professional or personal manner, except that the foregoing shall not limit normal competitive activities; provided that, in the case of the Executive, such competitive activities are in compliance with the Executive’s obligations under Section 5.2.

             

            5.6 Remedies. The Executive acknowledges that the Company’s remedy at law for a breach by him of the provisions of this Article V will be inadequate. Accordingly, in the event of a breach or threatened breach by the Executive of any provision of this Article V, the Company shall be entitled to injunctive relief (without posting
            a bond or other security) in addition to any other remedy it may have. If any of the provisions of, or covenants continued in, this Article V are hereafter construed to be invalid or unenforceable in any jurisdiction, the same shall not affect the remainder of the provisions or the enforceability thereof in any jurisdiction, which shall be given full effect, without regard to the invalidity or unenforceability in such other jurisdiction. If, at any time of enforcement of this
            Article V, a court or an arbitrator holds that the restrictions stated herein are unreasonable and/or unenforceable under circumstances then existing, the parties hereto agree that the maximum period, scope or geographical area reasonable and/or enforceable under such circumstances shall be substituted for the stated period, scope or area and that the court or arbitrator shall be allowed to revise the restrictions contained herein to cover the maximum period, scope and area
            permitted by law provided, however, that the determination of such court or arbitrator shall not affect

             

            
                

                 

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            the enforceability of this Article V in any other jurisdiction.. This Agreement shall not authorize a court or arbitrator to increase or broaden any of the restrictions in this Article V.

             

            5.7 Blue Pencil. If, at any time, the provisions of this Article V shall be determined to be invalid or unenforceable under any applicable law, by reason of being vague or unreasonable as to area, duration or scope of activity, this Article V shall be considered divisible and shall become and be immediately amended to only such area,
            duration and scope of activity as shall be determined to be reasonable and enforceable by the court or other body having jurisdiction over the matter. The Executive and the Company agree that this Article V as amended pursuant to the immediately preceding sentence, shall be valid and binding as though any invalid or unenforceable provision had not been included therein.

             

            ARTICLE VI.

             

            Separation from Service

             

            6.1 Involuntary Separation from Service

             

            (a) Separation from Service for Cause. The Company shall have the right to sever the Executive’s service with the Company at any time for Cause by delivery of a Notice of Separation from Service.

             

            (b) Death. In the event the Executive dies during the Term, the Executive’s service with the Company shall automatically be severed, such separation from service to be effective on the date of the Executive’s death.

             

            (c) Disability. In the event that the Executive suffers a Disability, the Company shall have the right to sever the Executive’s service with the Company by delivery of a Notice of Separation from Service.

             

            (d) Separation from Service Without Cause. The Company may at any time sever the Executive’s service with the Company by delivery of a Notice of Separation from Service for any reason other than Cause or the Executive’s death or disability.

             

            6.2 Executive Separation from Service.

             

            (a) Separation from Service without Good Reason. The Executive may sever his service with the Company at any time without Good Reason by delivery of a Notice of Separation from Service to the Company.

             

            (b) Separation from Service with Good Reason. The Executive may sever his service with the Company for Good Reason only by delivery of Notice of Separation from Service to the Company within 30 calendar days of the Executive first becoming aware of the circumstances giving rise to the Executive’s right to
            sever his service with the Company for Good Reason.

             

            
                

                 

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            6.3 Notice of Separation from Service. Any purported separation of the Executive's service with the Company (other than separation from service pursuant to Section 6.1(b) hereof) shall be communicated by written Notice of Separation from Service to the other party hereto delivered in accordance with Section 7.3 hereof.

             

            6.4 Effect of Separation from Service. 

             

            (a) Separation from Service by Company for Cause or by Executive without Good Reason. In the event of any severance of the Executive’s service with the Company during the Term (x) by the Company for Cause or (y) by the Executive without Good Reason, the Company shall pay to or provide the Executive with the
            following compensation and benefits:

             

            (i) Any earned but unpaid Base Salary up to and including the Date of Separation from Service, payable in accordance with the Company’s customary payroll procedures;

             

            (ii) Any unreimbursed business expenses incurred by the Executive in the performance of his duties for the Company prior to the Date of Separation from Service, upon receipt by the Company of documentation in such form as customarily required by the Company to report business expenses, payable in accordance with the Company’s customary business expense
            reimbursement procedures;

             

            (iii) The Executive’s Base Salary for any vacation days accrued and unused (determined in accordance with Company policy) by the Executive from the immediately preceding January 1st until the Date of Separation from Service, payable in accordance with the Company’s customary payroll procedures;

             

            (iv) Any housing expense reimbursement payable in accordance with Section 4.1(d) until the earlier of (A) the end of the lease for the Executive’s residence in Bermuda or (B) the three month anniversary of the Date of Separation from Service, payable in accordance with the Company’s customary business housing allowance reimbursement procedures;
            and

             

            (v) Any other benefits available to employees of the Company generally, through and including the Date of Separation from Service, payable or deliverable in accordance with the terms and conditions applicable to such benefits.

             

            (b) Separation from Service as a Result of Death or Disability. In the event of any severance of the Executive’s service with the Company during the Term as a result of the Executive’s death or Disability, the Company shall pay to or provide the Executive (or the Executive’s heirs) with the
            following compensation and benefits:

             

            
                

                 

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            (i) Any earned but unpaid Base Salary up to and including the Date of Separation from Service, payable in accordance with the Company’s customary payroll procedures;

             

            (ii) Any earned but unpaid Annual Incentive Compensation for the last completed calendar year during the Term, which Annual Incentive Compensation shall be determined (A) in accordance with the Company’s annual incentive plan, (B) utilizing the Threshold Annual Incentive Compensation Percentage, Maximum Annual Incentive Compensation Percentage, Target
            Annual Incentive Compensation Percentage and performance criteria previously established by the Board for such completed calendar year in accordance with Section 4.1(b) and (C) by the Board (1) without the exercise by the Board of any discretionary adjustment to such Annual Incentive Compensation and (2) with the Board ascribing to any individual evaluation of the Executive the same result as occurs based upon the Company’s performance under its annual incentive plan, and
            which Annual Incentive Compensation shall be payable within 15 business days of the six month anniversary of the Date of Separation from Service;

             

            (iii) A cash sum equal to the Target Annual Incentive Compensation Percentage of the Executive’s Base Salary as of the Date of Separation from Service multiplied by a fraction (x) the numerator of which is the number of calendar days elapsed in the calendar year up to and including the Date of Separation from Service and (y) the denominator of which is 365,
            payable within 15 business days of the six month anniversary of the Date of Separation from Service;

             

            (iv) Any unreimbursed business expenses incurred by the Executive in the performance of his duties for the Company prior to the Date of Separation from Service, upon receipt by the Company of documentation in such form as customarily required by the Company to report business expenses, payable in accordance with the Company’s customary business expense
            reimbursement procedures;

             

            (v) The Executive’s Base Salary for any vacation days accrued and unused (determined in accordance with Company policy) by the Executive from the immediately preceding January 1st until the Date of Separation from Service, payable in accordance with the Company’s customary payroll procedures;

             

            (vi) Any housing expense reimbursement payable in accordance with Section 4.1(d) until the earlier of (A) the end of the lease for the Executive’s residence in Bermuda or (B) the three month anniversary of the Date of Separation from Service, payable in accordance with the Company’s customary business housing allowance reimbursement
            procedures;

             

            
                

                 

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            (vii) Reimbursement for the reasonable cost of the preparation of the Executive’s home country federal and state income tax returns by KPMG, or an alternate tax preparation service provider elected by the Executive and approved by the Company, for the calendar year during which the Date of Separation from Service occurred; provided that the maximum amount
            of tax preparation expense reimbursable by the Company pursuant hereto shall be $2,500 and the Company shall have received from the Executive satisfactory written substantiation for such tax expenses, which reimbursement shall be payable on the later to occur of the six month anniversary of the Date of Separation from Service or 15 business days after the submission to the Company of satisfactory written substantiation for such tax expenses;

             

            (viii) Any proper and reasonable expense reimbursement relating to the relocation of the Executive’s residence from Bermuda, in the event the Executive and the Executive’s family relocate their permanent residence from Bermuda during the 12 months immediately following the Date of Separation from Service, which relocation expense reimbursement shall
            be made in a manner agreeable to the Company and the Executive and subject to receipt by the Company of satisfactory written substantiation for such relocation expenses, which reimbursement shall be payable on the later to occur of the six month anniversary of the Date of Separation from Service or15 business days after the submission to the Company of satisfactory written substantiation for such relocation expenses; and

             

            (ix) Any other benefits available to employees of the Company generally, through and including the Date of Separation from Service, payable or deliverable in accordance with the terms and conditions applicable to such benefits.

             

            (c) Separation from Service by the Company without Cause or by the Executive with Good Reason other than During a Change in Control Period. In the event of any severance of the Executive’s service with the Company during the Term (x) by the Company without Cause or (y) by the Executive with Good Reason, in
            either case other than during a Change in Control Period, the Company shall pay to or provide the Executive with the following compensation and benefits:

             

            (i) Any earned but unpaid Base Salary up to and including the Date of Separation from Service, payable in accordance with the Company’s customary payroll procedures;

             

            (ii) Any earned but unpaid Annual Incentive Compensation for the last completed calendar year during the Term, which Annual Incentive Compensation shall be determined (A) in accordance with the Company’s annual incentive plan, (B) utilizing the Threshold Annual Incentive

             

            
                

                 

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            Compensation Percentage, Maximum Annual Incentive Compensation Percentage, Target Annual Incentive Compensation Percentage and performance criteria previously established by the Board for such completed calendar year in accordance with Section 4.1(b) and (C) by the Board (1) without the exercise by the Board of any discretionary adjustment to such Annual Incentive Compensation and
            (2) with the Board ascribing to any individual evaluation of the Executive the same result as occurs based upon the Company’s performance under its annual incentive plan, and which Annual Incentive Compensation shall be payable within 15 business days of the six month anniversary of the Date of Separation from Service;

             

            (iii) A cash sum equal to the Target Annual Incentive Compensation Percentage of the Executive’s Base Salary as of the Date of Separation from Service multiplied by a fraction (x) the numerator of which is the number of calendar days elapsed from the January 1st immediately preceding the Date of Separation from Service to the Date of Separation
            from Service and (y) the denominator of which is 365, payable within 15 business days of the six month anniversary of the Date of Separation from Service;

             

            (iv) A cash sum equal to the average Annual Incentive Compensation paid by the Company to the Executive in respect of the three most recent completed calendar years, payable within 15 business days of the six month anniversary of the Date of Separation from Service;

             

            (v) A cash sum equal to six months of the Executive’s Base Salary, payable on the six month anniversary of the Date of Separation from Service and, thereafter, the continuation of the Executive’s Base Salary, paid in accordance with the Company’s payroll policy, from the six month anniversary of the Date of Separation from Service to the twelve
            month anniversary of the Date of Separation from Service, if any;

             

            (vi) A cash sum equal to the product of the following:

             

            (A) the greater of (I) the unvested Equity Incentive Awards lapsing immediately following the Date of Separation from Service which, absent such Date of Separation from Service, would otherwise vest during the 12 month period immediately following the Date of Separation from Service and (II) 50% of the Equity Incentive Awards lapsing immediately following the
            Date of Separation from Service, multiplied by

             

            (B) either (x) the per share closing price on the New York Stock Exchange for Endurance Specialty Holdings Ltd. ordinary shares on the Date of Separation from Service for Equity Incentive Awards with no exercise price or (y) the difference between (1) the per share closing price on the New York Stock

             

            
                

                 

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            Exchange for Endurance Specialty Holdings Ltd. ordinary shares on the Date of Separation from Service and (2) the applicable per share exercise price for Equity Incentive Awards with an exercise price, payable within 15 business days of the six month anniversary of the Date of Separation from Service.

             

            (vii) The continuation during the 12 months immediately following the Date of Separation from Service of the eligibility of the Executive, his spouse and his dependent children to participate in the Company's medical, dental, vision and life insurance plans in which the Executive, his spouse and his dependent children participated immediately preceding the Date
            of Separation from Service; provided, however, that participation in such medical, dental, vision and life insurance plans shall be subject to the Executive’s payment of the applicable employee portion of the monthly premium cost, if any.

             

            (viii) Any unreimbursed business expenses incurred by the Executive in the performance of his duties for the Company prior to the Date of Separation from Service, upon receipt by the Company of documentation in such form as customarily required by the Company to report business expenses, payable in accordance with the Company’s customary business expense
            reimbursement procedures;

             

            (ix) The Executive’s Base Salary for any vacation days accrued and unused (determined in accordance with Company policy) by the Executive from the immediately preceding January 1st until the Date of Separation from Service, payable in accordance with the Company’s customary payroll procedures;

             

            (x) Any housing expense reimbursement payable in accordance with Section 4.1(d) until the earlier of (A) the end of the lease for the Executive’s residence in Bermuda or (B) the three month anniversary of the Date of Separation from Service, payable in accordance with the Company’s customary business housing allowance reimbursement
            procedures;

             

            (xi) Reimbursement for the reasonable cost of the preparation of the Executive’s home country federal and state income tax returns by KPMG, or an alternate tax preparation service provider elected by the Executive and approved by the Company, for the calendar year during which the Date of Separation from Service occurred; provided that the maximum amount of
            tax preparation expense reimbursable by the Company pursuant hereto shall be $2,500 and the Company shall have received from the Executive satisfactory written substantiation for such tax expenses, which reimbursement shall be payable on the later to occur of the six month anniversary of the Date of Separation from Service or 15 business days after the submission to the Company of satisfactory written substantiation for such tax expenses;

             

            
                

                 

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            (xii) Any proper and reasonable expense reimbursement relating to the relocation of the Executive’s residence from Bermuda, in the event the Executive and the Executive’s family relocate their permanent residence from Bermuda during the 12 months immediately following the Date of Separation from Service, which relocation expense reimbursement shall be
            made in a manner agreeable to the Company and the Executive and subject to receipt by the Company of satisfactory written substantiation for such relocation expenses, which reimbursement shall be payable on the later to occur of the six month anniversary of the Date of Separation from Service or 15 business days after the submission to the Company of satisfactory written substantiation for such relocation expenses; and

             

            (xiii) Any other benefits available to employees of the Company generally, through and including the Date of Separation from Service, payable or deliverable in accordance with the terms and conditions applicable to such benefits.

             

            (d) Separation from Service by the Company without Cause or by the Executive with Good Reason During a Change in Control Period. In the event of any severance of the Executive’s service with the Company during the Term (x) by the Company without Cause or (y) by the Executive with Good Reason, in each case
            during a Change in Control Period, the Company shall pay to or provide the Executive with the following compensation and benefits:

             

            (i) Any earned but unpaid Base Salary up to and including the Date of Separation from Service, payable in accordance with the Company’s customary payroll procedures;

             

            (ii) Any earned but unpaid Annual Incentive Compensation for the last completed calendar year during the Term, which Annual Incentive Compensation shall be determined (A) in accordance with the Company’s annual incentive plan, (B) utilizing the Threshold Annual Incentive Compensation Percentage, Maximum Annual Incentive Compensation Percentage, Target
            Annual Incentive Compensation Percentage and performance criteria previously established by the Board for such completed calendar year in accordance with Section 4.1(b) and (C) by the Board (1) without the exercise by the Board of any discretionary adjustment to such Annual Incentive Compensation and (2) with the Board ascribing to any individual evaluation of the Executive the same result as occurs based upon the Company’s performance under its annual incentive plan, and
            which Annual Incentive Compensation shall be payable within 15 business days of the six month anniversary of the Date of Separation from Service;

             

            (iii) A cash sum equal to the Target Annual Incentive Compensation Percentage of the Executive’s Base Salary as of the Date

             

            
                

                 

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            of Separation from Service multiplied by a fraction (x) the numerator of which is the number of calendar days elapsed in the calendar year up to and including the Date of Separation from Service and (y) the denominator of which is 365, payable within 15 business days of the six month anniversary of the Date of Separation from Service;

             

            (iv) A cash sum equal to (A) two times the Executive’s annual Base Salary as of the Date of Separation from Service plus (B) two times the average Annual Incentive Compensation paid by the Company to the Executive in respect of the three most recent completed calendar years, payable within 15 business days of the six month anniversary of the Date of
            Separation from Service;

             

            (v) A cash sum equal to (A) the product of the unvested Equity Incentive Awards lapsing immediately following the Date of Separation from Service multiplied by (B) either (x) the per share closing price on the New York Stock Exchange for Endurance Specialty Holdings Ltd. ordinary shares on the Date of Separation from Service for Equity Incentive Awards with no
            exercise price or (y) the difference between (1) the per share closing price on the New York Stock Exchange for Endurance Specialty Holdings Ltd. ordinary shares on the Date of Separation from Service and (2) the applicable per share exercise price for Equity Incentive Awards with an exercise price, payable within 15 business days of the six month anniversary of the Date of Separation from Service;

             

            (vi) The continuation during the period from the Date of Separation from Service until the 24 month anniversary of the Date of Separation from Service, of the eligibility of the Executive, his spouse and his dependent children to participate in the Company's medical, dental, vision and life insurance plans in which the Executive, his spouse and his dependent
            children participated immediately preceding the Date of Separation from Service; provided, however, that participation in such medical, dental, vision and life insurance plans shall be subject to the Executive’s payment of the applicable employee portion of the monthly premium cost, if any;

             

            (vii) Any unreimbursed business expenses incurred by the Executive in the performance of his duties for the Company prior to the Date of Separation from Service, upon receipt by the Company of documentation in such form as customarily required by the Company to report business expenses, payable in accordance with the Company’s customary business expense
            reimbursement procedures;

             

            (viii) The Executive’s Base Salary for any vacation days accrued and unused (determined in accordance with Company policy) by the Executive from the immediately preceding January 1st until the Date of

             

            
                

                 

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            Separation from Service, payable in accordance with the Company’s customary payroll procedures;

             

            (ix) Any housing expense reimbursement payable in accordance with Section 4.1(d) until the earlier of (A) the end of the lease for the Executive’s residence in Bermuda or (B) the three month anniversary of the Date of Separation from Service, payable in accordance with the Company’s customary business housing allowance reimbursement
            procedures;

             

            (x) Reimbursement for the reasonable cost of the preparation of the Executive’s home country federal and state income tax returns by KPMG, or an alternate tax preparation service provider elected by the Executive and approved by the Company, for the calendar year during which the Date of Separation from Service occurred; provided that the maximum amount of
            tax preparation expense reimbursable by the Company pursuant hereto shall be $2,500 per annum and the Company shall have received from the Executive satisfactory written substantiation for such tax expenses, which reimbursement shall be payable on the later to occur of the six month anniversary of the Date of Separation from Service or 15 business days after the submission to the Company of satisfactory written substantiation for such tax expenses;

             

            (xi) Any proper and reasonable expense reimbursement relating to the relocation of the Executive’s residence from Bermuda, in the event the Executive and the Executive’s family relocate their permanent residence from Bermuda during the 12 months immediately following the Date of Separation from Service, which relocation expense reimbursement shall be
            made in a manner agreeable to the Company and the Executive and subject to receipt by the Company of satisfactory written substantiation for such relocation expenses, which reimbursement shall be payable on the later to occur of the six month anniversary of the Date of Separation from Service or15 business days after the submission to the Company of satisfactory written substantiation for such relocation expenses; and

             

            (xii) Any other benefits available to employees of the Company generally, through and including the Date of Separation from Service, payable or deliverable in accordance with the terms and conditions applicable to such benefits.

             

            6.5 Section 280G Gross Up.

             

            (a) Gross-Up Obligation. In the event that any payment, award, benefit or distribution (or any acceleration of any payment, award, benefit or distribution) by the Company or any entity which effectuates a change in ownership or effective control of the Company or a change in the ownership of a substantial portion
            of the assets of the Company, in either case, within the meaning of Section 280G(b)(2)(A)(i) of the Code and the regulations promulgated thereunder

             

            
                

                 

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            (a “Change in Ownership”), to or for the benefit of the Executive (the “Payments”) is subject to the excise tax imposed by Section 4999 of the Code, or any interest or penalties are incurred by the Executive with respect to such excise tax (such excise tax, together with any such interest and penalties, are hereinafter collectively referred to as the
            “Excise Tax”), then, subject to the limitation in Section 6.5(b), the Company shall pay to the Executive an additional payment (a “Gross-Up Payment”) in an amount such that after payment by the Executive of all taxes (including any Excise Tax, but excluding any taxes or penalties under Section 409A of the Code) imposed upon the Gross-Up Payment, Executive retains an amount of the Gross-Up Payment equal to the sum of (x) the Excise Tax imposed upon the
            Payments and (y) the product of any deductions disallowed because of the inclusion of the Gross-Up Payment in the Executive’s adjusted gross income and the highest applicable marginal rate of taxation for the calendar year in which the Gross-Up Payment is to be made. For purposes of determining the amount of the Gross-Up Payment, Executive shall be deemed to (A) pay federal income taxes at the highest marginal rate of taxation for the calendar year in which the Gross-Up
            Payment is to be made, (B) pay applicable state and local income taxes at the highest marginal rate of taxation for the calendar year in which the Gross-Up Payment is to be made, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes and (C) have otherwise allowable deductions for federal income tax purposes at least equal to those which could be disallowed because of the inclusion of the Gross-Up Payment in
            Executive’s adjusted gross income.

             

            (b) Limitation on Gross-Up Obligation. In the event the Executive is entitled to a Gross-Up Payment, but that the Payments would not be subject to the Excise Tax if the Payments were reduced by an amount that is less than 10% of the portion of the Payments that would be treated as “parachute payments”
            under Section 280G of the Code, then the amounts payable to the Executive under this Agreement shall be reduced (but not below zero) to the maximum amount that could be paid to the Executive without giving rise to the Excise Tax (the “Safe Harbor Cap”), and no Gross-Up Payment shall be made to the Executive. The reduction of the amounts payable hereunder, if applicable, shall be made by reducing first the payments under Section 6.4(d)(iv), unless an alternative method of
            reduction is elected by the Executive. For purposes of reducing the Payments to the Safe Harbor Cap, only amounts payable under this Agreement (and no other Payments) shall be reduced. If the reduction of the amounts payable hereunder would not result in a reduction of the Payments to the Safe Harbor Cap, no amounts payable under this Agreement shall be reduced pursuant to this provision.

             

            (c) Method of Determining Gross-Up. All determinations required to be made under this Section 6.5, including whether and when a Gross-Up Payment is required, the amount of such Gross-Up Payment and the assumptions to be utilized in arriving at such determinations, shall be made by KPMG, or such other public
            accounting firm as shall be mutually agreed by the Company and the Executive (the “Accounting Firm”), which shall provide detailed supporting calculations both to the Company and the Executive within 15 business days of

             

            
                

                 

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            receipt of notice from the Company or Executive that there has been a Payment, or such earlier time as is requested by the Company. All fees and expenses of the Accounting Firm shall be borne solely by the Company in connection with the performance of the services hereunder. The Executive shall cooperate with the Company and the Accounting Firm in connection with the determination of
            the Gross-Up Payment. The Gross-Up Payment under this Section 6.5 with respect to any Payments made to the Executive shall be made no later than the earlier of (i) 30 calendar days following the final determination of the amount of the Gross-Up Payment by the Accounting Firm or (ii) the end of the taxable year following the taxable year during which the Excise Tax is paid by the Executive. The final determination of the amount of the Gross-Up Payment by the Accounting Firm shall be
            binding upon the Company and the Executive. The parties hereto agree to cooperate with each other and the Accounting Firm in connection with any contest or disputes with the Internal Revenue Service in connection with the Excise Tax.

             

            (d) Underpayment or Overpayment of Gross-Up. In the event that the calculations prepared by the Accounting Firm result in the Gross-Up Payment made by the Company on behalf of the Executive being in excess of the amount (“Overpayment”) or insufficient to fulfill the Company’s obligations under
            Section 6.5(a), subject to the limitation set forth in Section 6.5(b) (“Underpayment”), the Accounting Firm, upon receipt of written notice from either the Executive or the Company, with a copy to the other party to this Agreement, shall determine the amount of the Underpayment or Overpayment, if any. In the event the Accounting Firm determines there is an Underpayment, the Company shall promptly pay to the Executive the amount of such Underpayment, which payment shall
            be made by the Company no later than the end of the taxable year following the taxable year during which the Excise Tax is paid by the Executive. In the event there is an Overpayment, the Executive shall promptly pay to the Company the amount of the Overpayment; provided, that in the event the Executive has previously paid the applicable Excise Tax to the Internal Revenue Service, the Executive shall not be obligated to pay to the Company the amount of the Overpayment until the
            Executive has received the applicable refund from the Internal Revenue Service. All fees and expenses of the Accounting Firm in calculating the Underpayment or Overpayment shall be borne solely by the Company. The Executive shall cooperate with the Company and the Accounting Firm in connection with the determination of the Underpayment or Overpayment.

             

            6.6 Executive Release. The execution by the Executive of the Executive Release attached hereto as Exhibit C shall be a condition precedent to the delivery to the Executive by the Company of any payment or benefit under Section 6.4(c) or Section 6.4(d). In addition, the Executive Agrees that, to the extent applicable, a portion of the
            payments made by the Company to the Executive under Section 6.4(c) or Section 6.4(d) shall be deemed severance pay in lieu of notice under the Bermuda Employment Act 2000 and that the Company shall have no other liability to the Executive thereunder.

             

            
                

                 

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            6.7 Resignations. The resignation by the Executive from all director and officer positions held by the Executive with the Company and any subsidiary or affiliate of the Company shall be a condition precedent to the delivery to the Executive by the Company of any payment or benefit under Section 6.4 (other than in connection with a
            separation of the Executive’s service with the Company as a result of the Executive’s death).

             

            6.8 Compliance with Restrictive Covenants. The Executive’s continued compliance with the restrictive covenants set forth in Sections 5.2, 5.3, 5.4 and 5.5 shall be a condition precedent to the receipt by the Executive of the payments and benefits set forth in Sections 6.4(b)(iii), 6.4(b)(vii), 6.4(b)(viii), 6.4(c)(iii),
            6.4(c)(iv), 6.4(c)(v), 6.4(c)(vi), 6.4(c)(vii), 6.4(c)(xi), 6.4(c)(xii), 6.4(d)(iii), 6.4(d)(iv), 6.4(d)(v), 6.4(d)(vi), 6.4(d)(x) and 6.4(d)(xi) on or after the Date of Separation from Service and, in the event the Executive breaches one or more of the covenants set forth in Sections 5.2, 5.3, 5.4 or 5.5, the Company shall be entitled to recover from the Executive the value of any payment or benefit made or provided by the Company to the Executive pursuant to the above-referenced
            Sections of this Agreement on and after the first date of such breach.

             

            6.9 Equity Incentive Awards. The Executive’s rights with respect to his Equity Incentive Awards upon any separation from his service with the Company shall be governed exclusively by the terms and conditions of the Plans and any award agreements executed by the Executive in connection with such Equity Incentive Awards. For the
            avoidance of doubt, under no circumstances shall the Executive be entitled to any cash payment under Section 6.4(c)(vi) or Section 6.4(d)(v) with respect to any Equity Incentive Award which is either exercisable or convertible in accordance with its terms at any time after the Date of Separation from Service.

             

            6.10 Other Compensation and Benefits. Except as specified in Section 6.4, the Executive shall not be entitled to any compensation, benefits or other payments or distributions, and references in the Executive Release to the release of claims against the Company shall be deemed to also include reference to the release of claims against
            all compensation and benefit plans and arrangements established or maintained by the Company and its subsidiaries and affiliates.

             

            6.11 Obligations of the Executive. The Executive shall have no obligations to the Company under this Agreement after the Date of Separation from Service, other than as provided in Sections 6.5 and 6.12, and except and to the extent Sections 5.2, 5.3, 5.4 or 5.5 shall apply.

             

            6.12 Post-Separation from Service Cooperation. Following any separation of the Executive’s service with the Company for any reason, the Executive shall reasonably cooperate with the Company to assist with existing or future investigations, proceedings, litigations or examinations involving the Company or any of its divisions,
            subsidiaries or affiliates. For each business day, or part thereof, that the Executive provides assistance as contemplated under this Section 6.12, the Company shall pay the Executive an amount equal to (i) the Executive’s annual Base Salary as in effect on the Date of Separation from Service, divided by (ii) 200. In addition, upon presentment of satisfactory written documentation, the Company will reimburse the Executive for reasonable out-of-pocket travel, lodging and other
            incidental expenses he incurs in providing such assistance. If

             

            
                

                 

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            requested by the Company, the Executive shall make reasonable good faith efforts to travel to such locations as the Company may reasonably request.

            ARTICLE VII.

             

            Miscellaneous

             

            7.1 Life Insurance. The Executive agrees that the Company or any of its divisions, subsidiaries or affiliates may apply for and secure and own insurance on the Executive’s life (in amounts determined by the Company) for the benefit of the Company. The Executive agrees to cooperate fully in the application for and securing of
            such insurance, including the submission by the Executive to such physical and other examinations, and the answering of such questions and furnishing of such information by the Executive, as may be required by the carrier(s) of such insurance. Notwithstanding anything to the contrary contained herein, neither the Company nor any of its divisions, subsidiaries or affiliates shall be required to obtain any insurance for or on behalf of the Executive.

             

            7.2 Benefit of Agreement; Assignment; Beneficiary. This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns, including, without limitation, any corporation or person which may acquire all or substantially all of the Company’s assets or business, or with or into which the
            Company may be consolidated or merged. This Agreement shall also inure to the benefit of, and be enforceable by, the Executive and his personal or legal representatives, executors, administrators, successors, heirs, distributes, devisees and legatees. The Company shall require any successor (whether direct or indirect, by operation of law, purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to expressly assume and
            agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place.

             

            7.3 Notices. All notices and other communications required or permitted hereunder shall be in writing and shall be deemed given when (a) delivered personally or by overnight courier to the following address of the other party hereto (or such other address for such party as shall be specified by notice given pursuant to this Section
            7.3) or (b) sent by facsimile to the following facsimile number of the other party hereto (or such other facsimile number for such party as shall be specified by notice given pursuant to this Section 7.3), with the confirmatory copy delivered by overnight courier to the address of such party pursuant to this Section 7.3:

            If to the Company, to:

            Endurance Specialty Holdings Ltd.

            Wellesley House

            90 Pitts Bay Road

            Pembroke HM 08, Bermuda

            Attention: General Counsel

            Facsimile: (441) 278-0401

             

            
                

                 

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            If to the Executive, to the residence address or residence facsimile number of the Executive set forth in the records of the Company.

             

            7.4 Entire Agreement: This Agreement contains the entire agreement of the parties hereto with respect to the terms and conditions of the Executive’s employment and supersedes any and all prior agreements and understandings, whether written or oral, between the parties hereto with respect to compensation due for services
            rendered hereunder, including but not limited to the Original Employment Agreement.

             

            7.5 Amendment and Waiver. This Agreement may not be changed or modified except by an instrument in writing signed by both of the parties hereto. The waiver by either party of a breach of any provision of this Agreement shall not operate or be construed as a continuing waiver or as a consent to or waiver of any subsequent breach
            hereof.

             

            7.6 Headings. The Article and Section headings herein are for convenience of reference only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any of the provisions hereof.

             

            7.7 Arbitration. Except as otherwise set forth in Section 5.6 hereof, any dispute or controversy between the Company and the Executive, whether arising out of or relating to this Agreement, the breach of this Agreement, or otherwise, shall be settled by arbitration in Hamilton, Bermuda administered in accordance with the Arbitration
            Act 1986, and judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. The arbitrator shall have the authority to award any remedy or relief that a court of competent jurisdiction could order or grant, including, without limitation, the issuance of an injunction. However, either party may, without inconsistency with this arbitration provision, apply to any court having jurisdiction over such dispute or controversy and seek interim
            provisional, injunctive or other equitable relief until the arbitration award is rendered or the controversy is otherwise resolved. Except as necessary in court proceedings to enforce this arbitration provision or an award rendered hereunder, or to obtain interim relief, neither a party nor an arbitrator may disclose the existence, content or results of any arbitration hereunder without the prior written consent of the Company and the Executive. The Executive shall have no right to
            enforce any of his rights hereunder by seeking or obtaining injunctive or other equitable relief and acknowledges that damages are an adequate remedy for any breach by the Company of this Agreement.

             

            7.8 Governing Law. This Agreement shall be governed by, and construed and interpreted in accordance with, the internal laws of Bermuda, without regard to principles of conflict of laws.

             

            7.9 No Mitigation; No Offset. The Executive shall not be required to mitigate damages or the amount of any payment provided for under this Agreement by seeking (and, without limiting the generality of this sentence, no payment otherwise required under this Agreement shall be reduced on account of) other employment or otherwise, and
            payments under this Agreement shall not be subject to offset in respect of any claims which the Company may have against the Executive.

             

            
                

                 

                -26-

                 

                

            

             

            
                

            

             

            7.10 Attorneys’ Fees. Each party to this Agreement will bear its own expenses in connection with any dispute or legal proceeding between the parties arising out of the subject matter of this Agreement, including any proceeding to enforce any right or provision under this Agreement; provided, that in the event the Executive
            prevails on any material claim raised in such dispute or legal proceeding, the Company shall reimburse the Executive for his reasonable out-of-pocket legal fees and expenses incurred in connection with such dispute or legal proceeding.

             

            7.11 Compliance with Section 409A. This Agreement is intended to comply with Section 409A of the Code and shall be construed and interpreted in accordance with such intent. To the extent that the delivery of any cash or benefits to the Executive under this Agreement, or the payment, settlement or deferral thereof, is subject to
            Section 409A of the Code, such cash or benefits shall be paid, settled or deferred in a manner that will comply with Section 409A of the Code, including regulations or other guidance issued with respect thereto, except as otherwise agreed by the Company and the Executive. In the event that the Executive becomes subject to any additional tax under Section 409A(a)(1)(B) of the Code as a direct result of unilateral action taken by the Company without the prior approval of the
            Executive, the Company shall indemnify and hold the Executive harmless against any such additional tax.

             

            7.12 Termination; Survivorship. This Agreement shall terminate upon the Executive’s separation from service with the Company, except that the respective rights and obligations of the parties under this Agreement as set forth herein shall survive any termination of this Agreement to the extent necessary to the intended
            preservation of such rights and obligations.

             

            7.13 Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under applicable law or rule in any jurisdiction, such invalidity,
            illegality or unenforceability shall not affect the validity, legality or enforceability of any other provision of this Agreement or the validity, legality or enforceability of such provision in any other jurisdiction, but this Agreement shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein.

             

            7.14 Other Agreements. The Executive represents and warrants to the Company that to the best of his knowledge, neither the execution and delivery of this Agreement nor the performance of his duties hereunder violates or will violate the provisions of any other agreement to which he is a party or by which he is bound.

             

            7.15 Subsidiaries, etc.

             

            (a) Company Obligations. The obligations of the Company under this Agreement may be satisfied by any subsidiary or affiliate of the Company for which the Executive serves as an employee under this Agreement, to the extent

             

            
                

                 

                -27-

                 

                

            

             

            
                

            

            such obligations relate to the Executive’s employment by such subsidiary or affiliate.

             

            (b) Company Rights The rights of the Company under this Agreement may be enforced by any Subsidiary or affiliate of the Company for which the Executive serves as an employee under this Agreement, to the extent such rights relate to the Executive’s employment by such subsidiary or affiliate.

             

            7.16 Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.

             

            IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written above.

             

            ENDURANCE SPECIALTY HOLDINGS LTD.

             

             

            
                	
                             

                        	
                            By:

                        	
                            /s/ John V. Del Col

                        

            

            
                	
                             

                        	
                            Name:

                        	
                            John V. Del Col

                        

            

            
                	
                             

                        	
                            Title:

                        	
                            General Counsel

                        

            

             

             

            
                	
                             

                        	
                            /s/ Kenneth J. LeStrange

                                  Kenneth J. LeStrange

                        

                                                                                                                                     
            

             

            
                

                 

                -28-

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