EXHIBIT 10.1

                        AMENDMENT OF EMPLOYMENT AGREEMENT

WHEREAS,  Everest  Reinsurance  Company  (the  "Company"),  Everest  Reinsurance
Holdings,  Inc. ("Holdings") and Joseph V. Taranto were parties to an employment
agreement  effective  as  of  January  1,  2000,  as  amended  (the  "Employment
Agreement"); and

WHEREAS, pursuant to a restructuring of Holdings, Holdings became a wholly-owned
subsidiary of Everest Re Group, Ltd. ("Everest Group"); and

WHEREAS,  in connection  with the  restructuring,  Everest  Group  established a
subsidiary, Everest Global Services, Inc. ("Everest Services"); and

WHEREAS,  the Employment Agreement was thereafter amended in connection with the
restructuring  to reflect the  restructuring  and the  establishment  of Everest
Services; and

WHEREAS,  (a) Taranto has  previously  transferred  to  employment  with Everest
Services;  (b) as required under the Employment Agreement,  Everest Services has
been  substituted  for the Company under the Employment  Agreement;  (c) Everest
Services has adopted and has become a party to the Employment Agreement; and (d)
the  Employment  Agreement  has been  previously  amended to reflect  all of the
foregoing transactions; and

WHEREAS, the parties have now agreed to a further modification to the Employment
Agreement and it is now desirable to amend the  Employment  Agreement to reflect
such modification.

NOW,  THEREFORE,  the Employment  Agreement is hereby  amended,  effective as of
April 18, 2003 by  substituting  the following  for Section 2 of the  Employment
Agreement:

"2. Term.  The term of  employment  under this  agreement  shall  commence as of
January 1, 2000 (the  `Appointment  Date') and shall continue  through March 31,
2006 unless sooner terminated in accordance with this Agreement."

IN WITNESS  WHEREOF,  the parties have executed this amendment to the Employment
Agreement as of April 18, 2003.


Everest Reinsurance Company                   Everest Reinsurance Holdings, Inc.

By: /s/ JOSEPH A. GERVASI                     By: /s/ JOSEPH A. GERVASI
    ---------------------                         ---------------------
    Joseph A. Gervasi                             Joseph A. Gervasi
    Senior Vice President                         Senior Vice President

Everest Re Group, Ltd.                        Everest Global Services, Inc.

By: /s/ JOSEPH A. GERVASI                     By: /s/ JOSEPH A. GERVASI
    ---------------------                         ---------------------
    Joseph A. Gervasi                             Joseph A. Gervasi
    Senior Vice President                         Senior Vice President

                            /s/ JOSEPH V. TARANTO
                            ---------------------
                                Joseph V. Taranto