SEC Contract Filing

Filing Date: 2016-02-26

Document Content:
<DOCUMENT>
<TYPE>EX-10.13
<SEQUENCE>5
<FILENAME>enh10-k12312015exhibit1013.htm
<DESCRIPTION>EX-10.13
<TEXT>
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<a name="s1758DB80B8229091ADBCFA1BF67252D7"></a><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><br><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit 10.13</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Restricted Share Agreement</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">THIS RESTRICTED SHARE AGREEMENT (this &#8220;Agreement&#8221;) is made by and between [Director] (&#8220;Grantee&#8221;) and Endurance Specialty Holdings Ltd., an exempted company organized under the laws of Bermuda (the &#8220;Company&#8221;), as of [Date].</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, Grantee is currently a director of the Company, and the Company desires to increase the incentive of the Grantee to exert his or her utmost efforts to improve the business and increase the assets of the Company.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, in consideration of the Grantee's services to the Company and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: </font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:96px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:37px;">1.</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Grant of Restricted Shares</font><font style="font-family:inherit;font-size:12pt;">. The Company hereby grants to the Grantee [NUMBER] shares (the &#8220;Restricted Shares&#8221;) of the Company&#8217;s ordinary</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:12pt;">shares, par value $1.00 per share (the &#8220;Ordinary Shares&#8221;), pursuant to and subject to the terms and provisions of the Company&#8217;s 2007 Equity Incentive Plan (the &#8220;Plan&#8221;) and this Agreement. The Restricted Shares shall be issued in the form of book entry Ordinary Shares in the name of the Grantee as soon as reasonably practicable after the date of this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Incorporation by Reference, Etc</font><font style="font-family:inherit;font-size:12pt;">. The provisions of the Plan are incorporated herein by reference. Except as otherwise expressly set forth herein, this Agreement shall be construed in accordance with the provisions of the Plan and any capitalized terms not otherwise defined in this Agreement shall have the definitions set forth in the Plan. The Administrator shall have final authority to interpret and construe the Plan and this Agreement and to make any and all determinations thereunder, and its decision shall be binding and conclusive upon the Grantee and his or her legal representative in respect of any questions arising under the Plan or this Agreement. No amendment or termination of the Plan may, without the prior written consent of the Grantee, adversely affect the rights of the Grantee under this Agreement. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Restrictions and Restricted Period</font><font style="font-family:inherit;font-size:12pt;">. During the period from the date of this Agreement to the earlier of (i) the one year anniversary of the date of this Agreement or (ii) the earlier release of the restrictions upon the Restricted Shares pursuant to Section 5 (the &#8220;Restricted Period&#8221;), Restricted Shares granted hereunder may not be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of by the Grantee until the expiration of the Restricted Period. Restricted Shares granted hereunder shall be subject to a risk of forfeiture as described in Section 6 below until the expiration or termination of the Restricted Period. Unless the Restricted Period is previously terminated pursuant to Section 5 of this Agreement or the Restricted Shares are previously forfeited in accordance with Section 6, the restrictions set forth above shall expire and all of the Restricted Shares shall become fully and freely transferable </font></div><br><div><div style="line-height:120%;text-align:center;font-size