0001047469-08-001952 Sample Contracts

OneBeacon Insurance Group, Ltd. Long-Term Incentive Plan 2007-2008 Performance Share Grant
Long-Term Incentive Plan Grant • February 29th, 2008 • OneBeacon Insurance Group, Ltd. • Fire, marine & casualty insurance

THIS GRANT (this "Grant") is made, effective as of March 1, 2007, between OneBeacon Insurance Group, Ltd., a Bermuda company limited by shares (the "Company") and (the "Participant").

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PERFORMANCE UNIT AWARD AGREEMENT
Performance Unit Award Agreement • February 29th, 2008 • OneBeacon Insurance Group, Ltd. • Fire, marine & casualty insurance

THIS AGREEMENT (this "Agreement") is made, effective as of the 1st of March, 2006, between OneBeacon Insurance Group LLC (the "Company"), and (the "Participant").

FORM OF AMENDMENT NUMBER ONE TO INVESTMENT MANAGEMENT AGREEMENT
Investment Management Agreement • February 29th, 2008 • OneBeacon Insurance Group, Ltd. • Fire, marine & casualty insurance

This AMENDMENT NUMBER ONE dated as of [ ] to the Investment Management Agreement ("Agreement") dated as of November 14, 2006, originally made by and among Prospector Partners, LLC, a Delaware limited liability company (the "Adviser"), and OneBeacon Insurance Group, Ltd, a Bermuda corporation ("the Client"). Per the terms of the Agreement, the Adviser has agreed to act as discretionary adviser with respect to the specified assets of the investment management clients of the Client identified on Schedule A to the Agreement. Capitalized terms used but not defined herein have the meaning set forth in the Agreement.

FORM OF INVESTMENT MANAGEMENT AGREEMENT
Investment Management Agreement • February 29th, 2008 • OneBeacon Insurance Group, Ltd. • Fire, marine & casualty insurance • New York

WHITE MOUNTAINS ADVISORS LLC, a Delaware limited liability company (the "Advisor"), having an address at 2614 Boston Post Road, Suite 34A, Guilford, Connecticut 06437, and [ ], a [ ] company (the "Client"), having an address at [ ], hereby enter into this Investment Management Agreement, dated as of [ ] (this "Agreement"), and hereby agree that the Advisor shall act as discretionary adviser with respect to the assets of the Client described below (the "Investment Account") on the following terms and conditions:

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