Contract
THIS AMENDMENT AGREEMENT is
made as of the 1st Day of
December, 2007 and is supplemental to between the Employment Agreement
made as of 17th Day of April, 2007, made by and among Flagstone Reassurance
Suisse SA (the “Company”) and Xxxxxxxx Traimond (the “Employee”) (the “Original
Agreement”).
WHEREBY
IT IS AGREED as follows:
1) Definitions and
Interpretation
“Effective Date”, means 1st
January, 2008.
Any term
not defined in this Amendment Agreement shall have the meaning as set out in the
Original Agreement.
2) Amendment
With
effect from the Effective Date, the amendments are as follows:
Section
16 of the Original Agreement shall be deleted and replaced with the following
new Section 16.
16.
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Vacation
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The
Employee is entitled to 5 weeks paid vacation (25 working days) per year.
Vacation is pro-rated for the first year.
The
Employee shall further be entitled to receive his salary at public
holidays which apply in the Canton of the
Valais.
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3) Whole
Agreement
i)
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Except
as specifically amended hereby, the Original Agreement shall continue in
full force and effect in accordance with the provisions hereof on the date
hereof and nothing herein contained shall be construed as waiver or
modification of existing rights under the Original Agreement, except as
such rights are expressly modified hereby.
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ii)
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This
Amendment Agreement constitutes an entire agreement and understanding of
the parties with respect to the subject matter hereof. The Amendment
Agreement shall be governed by and construed in accordance with the laws
of Switzerland.
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IN WITNESS WHEREOF the parties
hereto have set their hands the date first above written.
Flagstone
Réassurance Suisse SA
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/s/ Xxx Xxxxxx | /s/ Xxxxxxxx Traimond | ||
Xxx
Xxxxxx
CEO
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Xxxxxxxx
Traimond
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