Form of Restricted Stock Unit Award Agreement for Executive Officers MARKEL CORPORATION RESTRICTED STOCK UNIT AWARD AGREEMENTRestricted Stock Unit Award Agreement • February 28th, 2007 • Markel Corp • Fire, marine & casualty insurance • Virginia
MARKEL CORPORATION (the “Company”) grants you (the “Participant”) the opportunity to receive restricted stock units (“Units”). The number of Units will be based on performance conditions as specified below. Until the Vesting Date, except as specifically provided below, the Units are forfeitable and nontransferable. The Compensation Committee of the Company’s Board of Directors (the “Committee”) will administer this Agreement and any decision of the Committee will be final and conclusive. Capitalized terms not defined here have the meanings provided in the Markel Corporation Omnibus Incentive Plan (the “Plan”).
Form of Restricted Stock Unit Award Agreement for Lemuel E. Lewis MARKEL CORPORATION RESTRICTED STOCK UNIT AWARD AGREEMENT DIRECTOR AWARDRestricted Stock Unit Award Agreement • February 28th, 2007 • Markel Corp • Fire, marine & casualty insurance • Virginia
MARKEL CORPORATION (the “Company”) hereby grants you (the “Director”) two hundred fifty (250) restricted stock units (“Units”) under the Markel Corporation Omnibus Incentive Plan (the “Plan”) (this grant of Units is your “Award”). Units that have not yet vested in accordance with Section 1, below, or as otherwise specifically provided herein, are forfeitable and nontransferable. The Company’s Board of Directors (the “Board”) will administer this Award Agreement, and any decision of the Board will be final and conclusive. Capitalized terms not defined herein have the meanings provided in the Plan.
