0001193125-11-001243 Sample Contracts

December 31, 2010 William Fischer [address] Dear Bill:
Axis Capital Holdings LTD • January 4th, 2011 • Fire, marine & casualty insurance • New York

We are delighted that you have decided to continue your service with AXIS Specialty Limited, a Bermuda corporation (the “Company”) and wholly owned, direct 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”).

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AMENDMENT NO. 4 to EMPLOYMENT AGREEMENT dated December 15, 2003 by and between AXIS Specialty Limited (the “Company”) and John R. Charman (the “Executive”) Dated December 31, 2010
Employment Agreement • January 4th, 2011 • Axis Capital Holdings LTD • Fire, marine & casualty insurance

WHEREAS, the Company and the Executive entered into an amended and restated employment agreement dated as of December 15, 2003 (the “Agreement”);

AMENDMENT NO. 4 to SERVICE AGREEMENT dated December 15, 2003 by and between AXIS Specialty Limited (the “Company”) and Michael A. Butt (the “Executive”) Dated December 31, 2010
Service Agreement • January 4th, 2011 • Axis Capital Holdings LTD • Fire, marine & casualty insurance

WHEREAS, the Company and the Executive entered into an amended and restated employment agreement dated as of December 15, 2003 (the “Agreement”);

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