Third Point Reinsurance Ltd. Point HouseEmployment Agreement • November 5th, 2020 • Third Point Reinsurance Ltd. • Fire, marine & casualty insurance
We are pleased to offer you the position of Chief Operating Officer of Third Point Reinsurance Ltd. (the “Company”) on the terms outlined in this offer letter below. Reference is made below to that Agreement and Plan of Merger, dated as of August 6, 2020, among the Company, Sirius International Insurance Group, Ltd. and Yoga Merger Sub Limited (the “Merger Agreement”).
EMPLOYMENT AGREEMENTEmployment Agreement • November 5th, 2020 • Third Point Reinsurance Ltd. • Fire, marine & casualty insurance • New York
THIS EMPLOYMENT AGREEMENT (this “Agreement”), dated and effective as of August 6, 2020 (the “Effective Date”), is entered into by and between Third Point Reinsurance Ltd., a Bermuda exempted company limited by shares (the “Company”), which, following the Closing (as defined in the Merger Agreement), will be renamed SiriusPoint, Ltd. (“SP”), and Sid Sankaran (the “Executive”). Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Merger Agreement (defined below). If the merger is not consummated in accordance with the terms of the Merger Agreement prior to January 1, 2022, the Executive shall not be required to commence employment with SP, and the Executive shall have no further obligation hereunder or otherwise to the Company or SP, except as to Section 7(a) of this Agreement.
