FORM OF PERFORMANCE SHARE UNIT AWARD AGREEMENTPerformance Share Unit Award Agreement • October 27th, 2008 • Ipc Holdings LTD • Life insurance
Effective [ ] (the “Grant Date”), and subject to (i) the terms and conditions of the IPC Holdings, Ltd. (the “Company”) 2007 Incentive Plan (the “Plan”), as supplemented by this Award Agreement, and (ii) the terms and conditions of any employment agreement between you and the Company, as in effect from time to time, an award (the “Award”) of [ ] performance share units is hereby granted to you, which represents $[ ] divided by the closing price of the Company’s Common Shares two trading days following the release of the Company’s results in respect of the fiscal year immediately preceding this Award. This Award will be denominated in Common Shares. A copy of the Plan is available at the Company’s principal executive offices, which at the date hereof are located at American International Building, 29 Richmond Road, Pembroke HM 08, Bermuda. Any capitalized term used in this Award Agreement and not defined herein shall have the meaning set forth in the Plan.
FORM OF PERFORMANCE SHARE UNIT AWARD AGREEMENTPerformance Share Unit Award Agreement • October 27th, 2008 • Ipc Holdings LTD • Life insurance
Effective February 20, 2008 (the “Grant Date”), and subject to (i) the terms and conditions of the IPC Holdings, Ltd. (the “Company”) 2007 Incentive Plan (the “Plan”), as supplemented by this Award Agreement, and (ii) the terms and conditions of any employment agreement between you and the Company, as in effect from time to time, an award (the “Award”) of [ ] performance share units is hereby granted to you, which represents $[ ] divided by the closing price of the Company’s Common Shares two trading days following the release of the Company’s results in respect of the fiscal year immediately preceding this Award. This Award will be denominated in Common Shares. A copy of the Plan is available at the Company’s principal executive offices, which at the date hereof are located at American International Building, 29 Richmond Road, Pembroke HM 08, Bermuda. Any capitalized term used in this Award Agreement and not defined herein shall have the meaning set forth in the Plan.
