Exhibit 10.1
November 1, 2007
PRIVATE AND CONFIDENTIAL
Mr. Julian Cusack
c/o Aspen Insurance Limited
Maxwell Roberts Building
1 Church Street
Hamilton HM 11
Dear Julian,
RE: Amended Statement of Employment — Housing Allowance
Following approval by the Compensation Committee, I am pleased to confirm that your housing allowance will be reinstated to $15,000.00 per month with effect from today, November 1, 2007, and will be reflected in the next payroll.
All other terms and conditions contained in your employment agreements/contracts remain the same.
To confirm your agreement to these terms and conditions please sign below and return one copy to Tracy Berkeley.
Kind regards,
/s/ Chris Woodman
Chris Woodman
Group Head of Human Resources
I acknowledge receipt of this letter and agree to its terms as noted above.
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| Signed: | | | /s/ Julian Cusack | | | Date: 1 November 2007 |
| | Julian Cusack | | |