NYMAGIC, INC. 2004 AMENDED AND RESTATED LONG-TERM INCENTIVE PLAN PERFORMANCE SHARE AWARD AGREEMENT
Exhibit 10.4
THIS AGREEMENT, made as of this 18th day of April, by and between NYMAGIC, INC. (the
“Company”), having its principal place of business in 000 Xxxxx Xxxxxx, 00xx Xxxxx, Xxx
Xxxx, XX 00000
and
Xxxxxx X. Xxxxxxxx, III (the “Grantee”), the Chairman of the Company.
WITNESSETH THAT:
4. Binding Effect. Except as otherwise provided in this Award Agreement or in
the Plan, every covenant, term, and provision of this Award Agreement shall be binding upon and
inure to the benefit of the parties hereto and their respective successors, transferees, and
assigns.
5. No Additional Rights. In no event shall the award of the Restricted Shares
hereunder or the acceptance of this Award Agreement by the Grantee give or be deemed to give the
Grantee any right to continued retention as an independent contractor, service provider, or
employee by the Company or any affiliate of the Company.
6. Severability. If any part or parts of this Award Agreement or the Plan shall be
held illegal or unenforceable by any court or administrative body of competent jurisdiction, such
determination shall not affect the remaining provisions of this Award Agreement or the Plan which
shall remain in full force and effect.
8. Counterparts. This Award Agreement may be executed in one or more counterparts,
each of which shall be deemed an original and all of which together shall be considered one and the
same agreement.
9. Taxes. By signing this Award Agreement, the Grantee acknowledges that he shall be
solely responsible for the satisfaction of any taxes that may arise with respect to the Restricted
Shares, and that the Company shall have no obligation whatsoever to pay such taxes.
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COMPANY: | ||||||
NYMAGIC, INC. | ||||||
By: | /s/ Xxxx X. Xxxx
|
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Name: | Xxxx X. Xxxx | |||||
Title: | Senior Vice President, | |||||
General Counsel and Secretary |
The undersigned hereby accepts the terms of this Award Agreement and the Plan.
GRANTEE: | ||||||
By: | /s/ Xxxxxx X. Xxxxxxxx, III
|
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Name: | Xxxxxx X. Xxxxxxxx, III | |||||
Title: | Chairman |