Director Remuneration Assignment Agreement between John V. Del Col, Blue Capital Reinsurance Holdings Ltd., and Endurance Specialty Holdings Ltd.
This agreement assigns any director compensation that John V. Del Col receives from Blue Capital Reinsurance Holdings Ltd. to his employer, Endurance Specialty Holdings Ltd., for as long as he serves as a director of BCRH and remains employed by Endurance. The assignment covers all forms of remuneration, including cash, equity, and expense reimbursements, except for personal out-of-pocket expenses or compensation unrelated to his director role. The agreement is binding upon execution by all parties.
Exhibit 10.1
April 25, 2017
John V. Del Col
Waterloo House
100 Pitts Bay Road
Pembroke, Bermuda HM08
| Re: | Assignment of Director Remuneration paid by Blue Capital Reinsurance Holdings Ltd. |
Dear John:
This letter agreement relates to your service as a director on the Board of Directors of Blue Capital Reinsurance Holdings Ltd. (“BCRH”). As previously agreed, for so long as you serve as a director of BCRH and are an employee of an Endurance Specialty Holdings Ltd. (the “Company”), with this letter, you hereby instruct BCRH to assign to the Company your rights to any remuneration, including but not limited to cash, equity, equity-based awards and expense reimbursements, paid, payable or granted to you in your capacity as a director of BCRH. For the avoidance of doubt, this letter agreement shall not apply to (a) reimbursement by BCRH of out-of-pocket expenses incurred by you personally in connection with the performance of your duties as a director of BCRH or (b) any compensation payable to you by BCRH other than in your capacity as a director of BCRH.
Intending to be legally bound hereby, the parties have executed this letter agreement on the dates set forth below.
| ENDURANCE SPECIALTY HOLDINGS LTD., | ||||
| by | ||||
| /s/ Michael J. McGuire | ||||
| Name: Michael J. McGuire | ||||
| Title: Chief Financial Officer | ||||
| BLUE CAPITAL REINSURANCE HOLDINGS LTD., | ||||
| by | ||||
| /s/ Greg Garside | ||||
| Name: Greg Garside | ||||
| Title: Chief Financial Officer | ||||
| /s/ John V. Del Col | ||||
| John V. Del Col | ||||
