PLATINUM UNDERWRITERS REINSURANCE, INC. 2 World Financial Center 225 Liberty Street, Suite 2300 New York, NY 10281 October 27, 2005Letter Agreement • October 28th, 2005 • Platinum Underwriters Holdings LTD • Fire, marine & casualty insurance • New York
This letter agreement (this “Letter Agreement”) amends and restates the letter agreement between Steven H. Newman and The St. Paul Companies, Inc., dated March 1, 2002, as amended on March 12, 2004 and April 27, 2005, as assigned to Platinum Underwriters Reinsurance, Inc., (the “Company”) upon the initial public offering of Platinum Underwriters Holdings, Ltd. (“Platinum”), and as assigned to SHN Enterprises, Inc. (“SHN”) on March 18, 2002 (the “Prior Agreement”). This Letter Agreement sets forth the terms and conditions of SHN’s consulting arrangement with the Company following the Effective Date (as defined below).
PLATINUM UNDERWRITERS HOLDINGS, LTD. The Belvedere Building 69 Pitts Bay Road Pembroke HM08 Bermuda October 27, 2005Letter Agreement • October 28th, 2005 • Platinum Underwriters Holdings LTD • Fire, marine & casualty insurance • New York
PLATINUM UNDERWRITERS HOLDINGS, LTD. The Belvedere Building 69 Pitts Bay Road Pembroke HM08 Bermuda October 27, 2005Letter Agreement • October 28th, 2005 • Platinum Underwriters Holdings LTD • Fire, marine & casualty insurance • New York
This letter agreement (this “Letter Agreement”) amends and restates the Letter Agreement between you and The St. Paul Companies, Inc., dated March 1, 2002, as amended on June 14, 2002 (the “Prior Agreement”), and confirms that the obligations of The St. Paul Companies, Inc. (other than its indemnity obligations) under the Prior Agreement have been assumed by Platinum Underwriters Holdings, Ltd. (“Platinum”). This Letter Agreement sets forth the terms and conditions of your services as Chairman of the Board of Directors of Platinum on and after November 1, 2005.
