First Amendment to Enstar Group Limited 2006-2010 Annual Incentive Compensation Program

Summary

This amendment updates the name of the company in the 2006-2010 Annual Incentive Compensation Program from Castlewood Holdings Limited to Enstar Group Limited. It also changes references to the related equity incentive plan to reflect the new company name. The amendment is effective as of March 30, 2007, and ensures all program documents use the updated company name.

EX-10.3 4 w33004exv10w3.htm AMENDMENT NO. 1 TO ANNUAL INCENTIVE PROGRAM exv10w3

EXHIBIT 10.3

FIRST AMENDMENT TO
CASTLEWOOD HOLDINGS LIMITED
2006-2010 ANNUAL INCENTIVE COMPENSATION PROGRAM

WHEREAS, Castlewood Holdings Limited established the Castlewood Holdings Limited 2006-2010 Annual Incentive Compensation Program (the “Program”); and

WHEREAS, the name of Castlewood Holdings Limited has been changed to Enstar Group Limited; and

WHEREAS, it is desired to amend the Program to change the name of the Company, to change the reference to the Castlewood Holdings Limited 2006 Equity Incentive Plan to the Enstar Group Limited 2006 Equity Incentive Plan and to change the name of the Program to the Enstar Group Limited 2006-2010 Annual Incentive Compensation Program.

NOW, THEREFORE, the Plan is hereby amended, effective March 30, 2007, to substitute Enstar Group Limited for Castlewood Holdings Limited each place it appears in the Program.