Assignment Agreement for Director Remuneration between Montpelier Re Holdings Ltd. and William Pollett
This agreement is between Montpelier Re Holdings Ltd. and William Pollett. It requires Mr. Pollett, while serving as a director of Blue Capital Reinsurance Holdings Ltd. and as an employee of Montpelier, to assign any director-related compensation from Blue Capital (including cash, equity, and expense reimbursements) to Montpelier. The agreement does not apply to out-of-pocket expenses personally paid by Mr. Pollett or to compensation from Blue Capital unrelated to his director role. The agreement remains in effect as long as Mr. Pollett holds both positions.
Exhibit 10.60
Montpelier Re Holdings Ltd.
February 25, 2014
William Pollett
Montpelier House
94 Pitts Bay Road
Pembroke, Bermuda HM08
Re: Assignment of Director Remuneration paid by Blue Capital Reinsurance Holdings Ltd.
Dear Bill:
This letter agreement relates to your service as a director on the Board of Directors of Blue Capital Reinsurance Holdings Ltd. (“BCRH”). For so long as you serve as a director of BCRH and are an employee of Montpelier Re Holdings Ltd. (the “Company”), you hereby agree 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 for which you personally paid 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.
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| MONTPELIER RE HOLDINGS LTD., | |
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| /s/ Anthony Taylor |
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| Name: Anthony Taylor |
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| Title: Chairman of the Board |
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| /s/ William Pollett |
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| William Pollett |
