Letter agreement between Greenlight Reinsurance, Ltd, Greenlight Reinsurance Ireland, DAC, DME Advisors II, LLC and DME Advisors, LP, effective June 1, 2019

EX-10.1 2 a101waiverletteragreementj.htm EXHIBIT 10.1 Exhibit

Solasglas Investments, LP
c/o DME Advisors II, LLC
140 East 45th Street, 24th Floor
New York, NY 10017

June 18, 2019

Greenlight Reinsurance, Ltd.
Greenlight Reinsurance Ireland, DAC
65 Market Street, Suite 1207
Camana Bay
P.O. Box 31110
Grand Cayman, KY1-1205
Cayman Islands

This letter agreement is being entered into in connection with the investments by Greenlight Reinsurance, Ltd. (“Greenlight Re”) and Greenlight Reinsurance Ireland, DAC (“GRIL”) in Solasglas Investments, LP, a Cayman Islands exempted limited partnership (the “Partnership”), pursuant to the amended and restated exempted limited partnership agreement of the Partnership, dated August 30, 2018 and effective September 1, 2018 as amended by an amendment dated February 26, 2019 (the “Partnership Agreement”). Capitalized terms used herein and not otherwise defined shall have the meanings given to them in the Partnership Agreement.

The General Partner and the Investment Advisor each hereby agree that during the period from June 1, 2019 until December 31, 2019, (a) not less than 50% of the Investment Portfolio of each of Greenlight Re and GRIL shall be held in cash and cash equivalents, and (b) the portion of the Investment Portfolio of each of Greenlight Re and GRIL that is held in cash or cash equivalents will not be subject to any Management Fee or Performance Allocation.

This letter agreement may be executed in one or more counterparts, each one of which will be deemed an original, and all of which together will constitute one and the same agreement. This letter agreement may not be amended or modified without the written consent of all of the parties hereto.
This letter agreement constitutes a valid and binding agreement of the parties hereto, enforceable against each party in accordance with its terms.

If the above correctly reflects your understanding and agreement with respect to the foregoing matters, please so confirm by signing and returning the enclosed copy of this letter agreement.
Very truly yours,


By: /s/ Daniel Roitman
Name: Daniel Roitman
Title: COO


By: /s/ Daniel Roitman
Name: Daniel Roitman
Title: COO

Accepted and agreed as of the date first written above:


By: /s/ Simon Burton
Name: Simon Burton
Title: CEO    


By: /s/ Tim Courtis
Name: Tim Courtis
Title: Director