AMENDMENT NO. 2 to EMPLOYMENT AGREEMENT Dated May 3, 2012 by and Among AXIS Specialty U.S. Services, Inc. (The "Company"), AXIS Capital Holdings Limited ("Holdings") and Albert A. Benchimol (The "Executive") Dated January 19, 2016 (January 25th, 2016)
1. Section 3a of the Agreement (Employment Term) is hereby amended by deleting the reference to "upon the earlier of (i) the Closing, as defined in the Agreement and Plan of Amalgamation, dated as of January 25, 2015, by and among PartnerRe Ltd. and Holdings, as may be amended from time to time (the "Amalgamation Agreement"), or (ii) the End Date, as defined in the Amalgamation Agreement" with "December 31, 2018".
[AXIS Logo] January 23, 2015 [Address] Dear Joseph: (January 29th, 2015)
We are delighted that you have decided to continue your service with AXIS Specialty U.S. Services, Inc., a Delaware corporation (the Company) and wholly owned, indirect subsidiary of AXIS Capital Holdings Limited, a Bermuda company (the Parent). We thought it would be useful to lay out the terms and conditions of our agreement in this amended and restated employment agreement (this Agreement).
May 16, 2012 C/O AXIS Capital Holdings Limited (May 18th, 2012)