ADDENDUM TO A CHANGE IN CONTROL AGREEMENT
THIS ADDENDUM TO A CHANGE IN CONTROL AGREEMENT (this “Addendum”) is executed as of April 3rd, 2018 by and among Aspen Insurance Holdings Limited, a Bermuda corporation (“Holdings”), Aspen Insurance UK Services Limited, an England corporation (“AUKSL”) and Kate Vacher (the “Executive”).
WHEREAS Holdings, AUKSL and the Executive entered into a Change in Control Agreement dated February 25, 2015 (the “Change in Control Agreement”);
NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS:
| |
| 1. | Defined terms in this Addendum which are not otherwise defined shall carry the meanings attributed to them in the Change in Control Agreement. |
| |
| 2. | Clause 6(a)(i)(B) of the Change in Control Agreement shall be deleted and replaced with the following: |
| |
| “(B) | The amount equal to the product of (1) two and (2) the sum of (x) the Executive’s Annual Base Salary and (y) the Recent Average Bonus” |
| |
| 3. | All other provisions of the Change in Control Agreement shall remain in full force and effect. |
| |
| 4. | This Addendum shall be governed and construed in accordance with the laws of England & Wales. |
IN WITNESS WHEREOF, the parties have executed this Addendum as of the day and year first written above.
ASPEN INSURANCE HOLDINGS LIMITED
By: /s/ Michael Cain
Name: Michael Cain
Title: Group General Counsel
ASPEN INSURANCE UK SERVICES LIMITED
By: /s/ Michael Cain
Name: Michael Cain
Title: Director
KATE VACHER
/s/ Kate Vacher
Kate Vacher
