0001104659-04-012659 Sample Contracts

AXIS SPECIALTY LIMITED 106 PITTS BAY ROAD PEMBROKE HM 08 BERMUDA
Axis Capital Holdings LTD • May 5th, 2004 • Fire, marine & casualty insurance

We are delighted that you have decided to join AXIS Specialty Limited, a Bermuda company (the “Company”) and wholly owned, indirect subsidiary of AXIS Capital Holdings Limited, a Bermuda company (the “Parent”). We thought it would be useful to lay out the terms and conditions of our agreement in this letter agreement (this “Agreement”). This Agreement is dated as of January 1, 2004.

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AXIS SPECIALTY LIMITED 106 PITTS BAY ROAD PEMBROKE HM 08 BERMUDA
Axis Capital Holdings LTD • May 5th, 2004 • Fire, marine & casualty insurance

We are delighted that you have decided to join AXIS Specialty Limited, a Bermuda company (the “Company”) and wholly owned, indirect subsidiary of AXIS Capital Holdings Limited, a Bermuda company (the “Parent”). We thought it would be useful to lay out the terms and conditions of our agreement in this letter agreement (this “Agreement”). This Agreement is dated as of August 1, 2003.

SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT
Supplemental Executive Retirement Agreement • May 5th, 2004 • Axis Capital Holdings LTD • Fire, marine & casualty insurance

This Supplemental Executive Retirement Agreement (“Agreement”) is made this 1st day of January, 2004 by and between AXIS Specialty Limited, a Bermuda company (“Axis”), and John R. Charman (the “Executive”);

SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT
Supplemental Executive Retirement Agreement • May 5th, 2004 • Axis Capital Holdings LTD • Fire, marine & casualty insurance

This Supplemental Executive Retirement Agreement (“Agreement”) is made this 1st day of January, 2004 by and between AXIS Specialty Limited, a Bermuda company (“Axis”), and Michael A. Butt (the “Executive”);

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