November 1, 2010 Mr. Albert Benchimol [ADDRESS] Dear Albert:Restricted Stock Agreement • November 2nd, 2010 • Axis Capital Holdings LTD • Fire, marine & casualty insurance • New York
We are delighted that you have decided to join AXIS Specialty U.S. Services, Inc., a Delaware corporation (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 November 1, 2010.
