AMENDMENT NO. 2 TO AMENDED AND
RESTATED EMPLOYMENT AGREEMENT
This Amendment No. 2 to the Amended
and Restated Employment Agreement (this “Amendment”),
is dated as of August 13, 2009 and is entered into between
Endurance Specialty Holdings Ltd. (the “Company”), and
Kenneth J. LeStrange (the “Executive”).
WHEREAS, the Company and the
Executive entered into an Amended and Restated Employment
Agreement, dated as of December 22, 2008, and Amendment No. 1 to
such Amended and Restated Employment Agreement, dated as of March
11, 2009 (as so amended, the “Employment Agreement”) in
order to embody the terms of the Executive’s continued
employment; and
WHEREAS, the Company and the
Executive desire to further amend the Employment Agreement in order
to extend until July 1, 2010 the initial term of the Employment
Agreement.
NOW, THEREFORE, in consideration of
the premises and the mutual agreements contained herein, and for
other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Company and the Executive
hereby agree as follows:
1. Amendments . (a) Section
1.16 of the Employment Agreement is hereby deleted in its entirety
and the following new Section 1.16 is inserted in lieu
thereof:
“1.16 “ Term
” shall mean the term of employment of the Executive with the
Company, which shall commence as of the date first written above
and shall continue to the earlier of (a) July 1, 2010 or (b)
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