Mark E. Watson III President and Chief Executive Officer Argo Group International Holdings, Ltd.
EXHIBIT 10.1
February 18, 2011
Xxxx X. Xxxxxx III
President and Chief Executive Officer
Argo Group International Holdings, Ltd.
000 Xxxxx Xxx Xxxx
Xxxxxxxx XX 00 Bermuda
Dear Xx. Xxxxxx:
As you know, pursuant to a letter agreement dated August 10, 2010 from Argo Group International Holdings, Ltd. (the “Company”) to you (the “Agreement”), certain housing, home leave and education allowances (collectively, the “Allowances”) were granted to you, together with certain other consideration. You and the Company hereby acknowledge and agree that the amounts payable in respect of the Allowances may be adjusted from time to time, at the discretion of the Human Resources Committee of the Company, such that the amounts payable are up to (but not in excess of) the amounts set forth in the Agreement.
Please confirm your agreement to the foregoing by executing this letter in the space provided below.
| Sincerely yours, | ||
| ARGO GROUP INTERNATIONAL HOLDINGS, LTD. | ||
| By: | /s/ Xxxx X. Power, Jr. | |
| Name: |
Xxxx X. Power, Jr. | |
| Title: |
Chairman, Human Resources Committee Board of Directors | |
| Accepted and Agreed: |
| EMPLOYEE |
| /s/ Xxxx X. Xxxxxx III |
| Xxxx X. Xxxxxx III |
| Argo House | T 000 000 0000 | |
| 000 Xxxxx Xxx Xxxx | F 000 000 0000 | |
| Pembroke, Bermuda HM08 | ||
| xxx.xxxxxxxxxxx.xxx |
