Attached files
file | filename |
---|---|
10-K - FORM 10-K - ASPEN INSURANCE HOLDINGS LTD | u08405e10vk.htm |
EX-10.16 - EX-10.16 - ASPEN INSURANCE HOLDINGS LTD | u08405exv10w16.htm |
EX-32.1 - EX-32.1 - ASPEN INSURANCE HOLDINGS LTD | u08405exv32w1.htm |
EX-31.1 - EX-31.1 - ASPEN INSURANCE HOLDINGS LTD | u08405exv31w1.htm |
EX-23.1 - EX-23.1 - ASPEN INSURANCE HOLDINGS LTD | u08405exv23w1.htm |
EX-21.1 - EX-21.1 - ASPEN INSURANCE HOLDINGS LTD | u08405exv21w1.htm |
EX-31.2 - EX-31.2 - ASPEN INSURANCE HOLDINGS LTD | u08405exv31w2.htm |
EX-10.67 - EX-10.67 - ASPEN INSURANCE HOLDINGS LTD | u08405exv10w67.htm |
EX-10.50 - EX-10.50 - ASPEN INSURANCE HOLDINGS LTD | u08405exv10w50.htm |
EX-10.51 - EX-10.51 - ASPEN INSURANCE HOLDINGS LTD | u08405exv10w51.htm |
Exhibit 10.10
AMENDMENT NO. 2 TO THE
EMPLOYMENT AGREEMENT
EMPLOYMENT AGREEMENT
THIS AMENDMENT NO. 2 (the Amendment) to the Employment Agreement (the Agreement), dated as of
the 12th day of January, 2004 and amended effective as of the 5th day of February, 2008, further
amended as of the 28th day of October, 2008, and further amended as of the
31st day of December, 2008, between Aspen Insurance U.S. Services, Inc., a Delaware
corporation (the Employer), and Brian M. Boornazian (the Executive), is made effective as of
the 8th day of February, 2010:
RECITALS:
WHEREAS, the Executive and the Employer have entered into a written agreement setting forth the
terms and conditions of the Executives employment with the Employer and the services to be
rendered by him to Aspen Re America Inc.; and
WHEREAS, the Employer and the Executive wish to amend certain provisions of Paragraph 8 of the
Agreement.
NOW THEREFORE, the Agreement is amended as follows:
Subparagraph 8(a)(ii) is amended in its entirety to read as follows:
the Employer shall pay to the Executive in equal installments on the dates provided in
paragraph 3(a) during the remaining period of the Term of Employment (before giving effect to such
termination) an amount equal to the sum of (1) the Executives highest Annual Base Salary while
employed by the Employer plus (2) the average of the immediately preceding three annual bonuses
paid to the Executive prior to the Date of Termination; provided, however that if such termination
occurs either (x) as a result of Good Reason and the Company has given the initial notice
contemplated by clause (y) or (y) the Company has given the Executive six months prior written
notice after a reasonable assessment that the Company is not comfortable with the long term
economic performance and/or prospects of the business unit in which the Executive works and the
reasons for such concern are not remedied to the satisfaction of the Company in that six month
period and the Employer thereafter terminates the Executives employment, then in the case of
either (x) or (y) the Employer shall not be obligated to make any payment pursuant to this
paragraph 8(a)(ii); and
Except as expressly amended herein, the provisions of the Agreement shall remain in full force and
effect.
This Amendment may be signed in counterparts, each of which shall be an original, with the same
effect as if the signatures thereto and hereto were upon the same instrument.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment.
ASPEN INSURANCE U.S. SERVICES, INC. |
||||
By: | /s/ Courtney Driscoll | |||
Date: | 2/11/2010 | |||
AGREED AND ACKNOWLEDGED AS
OF THE EFFECTIVE DATE OF THE
AMENDMENT ABOVE WRITTEN:
OF THE EFFECTIVE DATE OF THE
AMENDMENT ABOVE WRITTEN:
/s/ Brian Boornazian | ||||
Brian M. Boornazian | ||||
Date: | 2/11/2010 | |||