SEC Contract Filing

Filing Date: 2017-11-03

Document Content:
<DOCUMENT>
<TYPE>EX-10.11
<SEQUENCE>12
<FILENAME>ex101193017.htm
<DESCRIPTION>EX 10.11
<TEXT>
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<div><a name="sE9166BA13D5904B2BA9A69521951665F"></a></div><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.11</font></div><div style="line-height:120%;padding-bottom:32px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ARCH CAPITAL GROUP LTD.</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Share Appreciation Right Agreement</font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;text-indent:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">AGREEMENT, made and entered into this 9</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">th</sup></font><font style="font-family:inherit;font-size:10pt;">&#32;day of May, 2013, by and between Arch Capital Group Ltd. (the &#8220;Company&#8221;), a Bermuda company, and Andrew Rippert (the &#8220;SAR Holder&#8221;).</font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;text-indent:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, the SAR Holder has been granted the following award under the Company&#8217;s 2012 Long Term Incentive and Share Award Plan (the &#8220;Plan&#8221;);</font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;text-indent:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, and for other good and valuable consideration, the Company and the SAR Holder agree as follows:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:12px;text-align:left;text-indent:96px;"><font style="padding-bottom:12px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(a)</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Grant</font><font style="font-family:inherit;font-size:10pt;">. Pursuant to the provisions of the Plan, the terms of which are incorporated herein by reference, the Company hereby grants to the SAR Holder a Share Appreciation Right (the &#8220;SAR&#8221;) with respect to 2,500 Shares. The SAR represents a right to be paid, upon exercise of the SAR, an amount measured by (x) the difference between the Fair Market Value per Share on the date of exercise and the exercise price per Share of the SAR, multiplied by (y) the number of Shares with respect to which the SAR is exercised, with such amount to be paid in the form of Shares valued at their Fair Market Value on the date of exercise. The SAR is granted as of May 9, 2013 (the &#8220;Date of Grant&#8221;), and such grant is subject to the terms and conditions herein and the terms and conditions of the Plan. In the event there is any conflict between the terms of the Plan and this Agreement, the terms of the Plan shall control. Capitalized terms used herein but not defined shall have the meanings given to them in the Plan.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:12px;text-align:left;text-indent:96px;"><font style="padding-bottom:12px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(b)</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Exercise Price</font><font style="font-family:inherit;font-size:10pt;">. The exercise price of the SAR shall be equal to $53.53 per Share.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:12px;text-align:left;text-indent:96px;"><font style="padding-bottom:12px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(c)</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Status of Shares</font><font style="font-family:inherit;font-size:10pt;">. Upon issue, the shares received upon exercise of the SAR shall rank equally in all respects with the other Shares.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:12px;text-align:left;text-indent:96px;"><font style="padding-bottom:12px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(d)</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Term of SAR</font><font style="font-family:inherit;font-size:10pt;">. The SAR may be exercised only during the period (the &#8220;SAR Period&#8221;) set forth in paragraph (f) below and shall remain exercisable until the tenth anniversary of the Date of Grant. Thereafter, the SAR Holder shall cease to have any rights in respect thereof. The right to exercise the SAR shall be subject to sooner termination as provided in paragraph (j) below.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:12px;text-align:left;text-indent:96px;"><font style="padding-bottom:12px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(e)</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">No Rights of Shareholder</font><font style="font-family:inherit;font-size:10pt;">. The SAR Holder shall not, by virtue hereof, be entitled to any rights of a shareholder in the Company, either at law or in equity.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:12px