0000912057-02-021986 Sample Contracts

ST. PAUL RE, INC. 195 Broadway New York, New York 10007
Platinum Underwriters Holdings LTD • May 28th, 2002 • Blank checks • New York
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THE ST. PAUL COMPANIES, INC. 385 Washington Street St. Paul, Minnesota 55102
Letter Agreement • May 28th, 2002 • Platinum Underwriters Holdings LTD • Blank checks • New York

This letter agreement (the "Letter Agreement") confirms, on behalf of The St. Paul Companies, Inc. (the "Company" or "SPC"), the terms and conditions of your consulting agreement with SPC and USF&G Family Insurance Company ("Operating Company"), which is a wholly-owned subsidiary of SPC.

THE ST. PAUL COMPANIES, INC. 385 Washington Street St. Paul, Minnesota 55102
Letter Agreement • May 28th, 2002 • Platinum Underwriters Holdings LTD • Blank checks • New York

This letter agreement (the "Letter Agreement") confirms, on behalf of The St. Paul Companies, Inc. (the "Company" or "SPC"), the terms and conditions of your services as Chairman of the Board of Directors of St. Paul Re, Inc. ("SPR") a wholly-owned subsidiary of SPC, and as Chairman of the Board of Bermuda Newco (as defined below).

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