0000950123-07-009179 Sample Contracts

CONTROL AGREEMENT
Control Agreement • June 25th, 2007 • Montpelier Re Holdings LTD • Fire, marine & casualty insurance • New York

This Control Agreement (this “Agreement”) is dated as of June 21, 2007, among Montpelier Reinsurance Ltd. (the “Customer”), The Royal Bank of Scotland plc, as Security Trustee (the “Security Trustee”) for itself and the other lending institutions party to the Standby Letter of Credit Facility Agreement dated as of June 21, 2007 (as amended, supplemented and restated from time to time, the “Facility Agreement”), and The Bank of New York (“Custodian”).

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SECURITY AGREEMENT
Security Agreement • June 25th, 2007 • Montpelier Re Holdings LTD • Fire, marine & casualty insurance • New York

THIS SECURITY AGREEMENT (this “Agreement”) dated as of June 21, 2007 is between MONTPELIER REINSURANCE LTD., a Bermuda company (the “Pledgor”) and THE ROYAL BANK OF SCOTLAND PLC (“RBS”) in its capacity as Security Trustee of the Finance Parties (in such capacity, the “Security Trustee”).

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