<SEC-DOCUMENT>0001193125-16-766091.txt : 20161110
<SEC-HEADER>0001193125-16-766091.hdr.sgml : 20161110
<ACCEPTANCE-DATETIME>20161110171855
ACCESSION NUMBER:		0001193125-16-766091
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20161108
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20161110
DATE AS OF CHANGE:		20161110

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RENAISSANCERE HOLDINGS LTD
		CENTRAL INDEX KEY:			0000913144
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		IRS NUMBER:				980138020
		STATE OF INCORPORATION:			D0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14428
		FILM NUMBER:		161989161

	BUSINESS ADDRESS:	
		STREET 1:		RENAISSANCE HOUSE
		STREET 2:		12 CROW LANE
		CITY:			PEMBROKE
		STATE:			D0
		ZIP:			HM19
		BUSINESS PHONE:		4412954513

	MAIL ADDRESS:	
		STREET 1:		RENAISSANCE HOUSE
		STREET 2:		12 CROW LANE
		CITY:			PEMBROKE
		STATE:			D0
		ZIP:			HM19
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d477611d8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 8-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>PURSUANT
TO SECTION 13 OR 15(D) </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>OF THE SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): November 8, 2016 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>RenaissanceRe Holdings Ltd. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Bermuda
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction of incorporation) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>001-14428</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>98-014-1974</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
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<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>Renaissance House 12 Crow Lane, Pembroke Bermuda</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>HM 19</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"><B>(Address of principal executive offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(441)&nbsp;295-4513 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s telephone number, including area code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former
name or former address, if changed since last report) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item 1.01. Entry into a Material Definitive Agreement. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Third Amendment to Letter of Credit Reimbursement Agreement </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Effective as of November 8, 2016, Renaissance Reinsurance Ltd. (&#147;<U>RRL</U>&#148;) entered into the Third Amendment to Letter of Credit Reimbursement
Agreement (the &#147;<U>Amendment</U>&#148;), by and among RRL and each of Bank of Montreal, as documentation agent (the &#147;<U>Documentation Agent</U>&#148;), Bank of Montreal, London Branch, as a lender (&#147;<U>BMO</U>&#148;), Citibank Europe
plc, as a lender and as collateral agent (&#147;<U>CEP</U>&#148;), and ING Bank N.V., London Branch, as a lender and as letter of credit agent (&#147;<U>ING</U>&#148; and, together with BMO and CEP, the &#147;<U>Lenders</U>&#148;), amending the
Reimbursement Agreement, dated as of November 23, 2015, as amended (the &#147;<U>Reimbursement Agreement</U>&#148;), evidencing a secured letter of credit facility (the &#147;<U>Facility</U>&#148;) providing for the issuance by the Lenders of two
letters of credit (the &#147;<U>Letters of Credit</U>&#148;) for the account of RRL to support business written by RRL&#146;s Lloyd&#146;s syndicate, Syndicate 1458.</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Letters of Credit are denominated in U.S. Dollars and Pounds, with stated amounts of $380 million and &pound;90 million, respectively. Pursuant to the
Amendment, the term of the Facility was extended until the date that is four years from the date of notice from ING to the beneficiary of the Letters of Credit, which notice is required to be given not later than December 31, 2016, unless such date
is extended with the consent of all the Lenders.&nbsp;Notice was previously required to be given not later than December&nbsp;31, 2015. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under the
Reimbursement Agreement and related pledge and security agreement between RRL and CEP, as collateral agent, RRL is obligated to pledge to the Lenders at all times during the term of the Facility certain eligible securities with a collateral value
(determined as provided in the Reimbursement Agreement) that, until a Full Collateralization Event (as defined in the Reimbursement Agreement) occurs, is, at RRL&#146;s election, either (i) greater than or equal to 100% of the aggregate amount of
its then-outstanding Letters of Credit or (ii) greater than or equal to 60% but less than 100% of the aggregate amount of its then-outstanding Letters of Credit.&nbsp;Upon the occurrence of a Full Collateralization Event, RRL is obligated to
collateralize the Facility at 100%. Pursuant to the Amendment, the latest date upon which RRL will become obligated to collateralize the Facility at 100% was extended to December&nbsp;31, 2017 from December 31, 2016. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Certain Lenders and their affiliates have performed commercial banking, investment banking and advisory services for RRL and/or its affiliates from time to
time for which they have received customary fees and reimbursement of expenses.&nbsp;The Lenders and the Documentation Agent may from time to time engage in transactions with and perform services for RRL and its affiliates in the ordinary course of
their business for which they may receive customary fees and reimbursement of expenses.</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The descriptions of the Amendment and Facility contained herein
are qualified in their entirety by reference to the Amendment, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference, and the Reimbursement Agreement, a copy of which was previously filed. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of the Registrant. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The disclosure set forth in Item 1.01 above is hereby incorporated by reference. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Adoption of 2016 Restricted Stock Unit Plan </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On November 10, 2016, the Board of Directors (the &#147;Board&#148;) of RenaissanceRe Holdings Ltd. (the &#147;Company&#148;) adopted the RenaissanceRe
Holdings Ltd. 2016 Restricted Stock Unit Plan (the &#147;Plan&#148;). The Plan succeeds the RenaissanceRe </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 2 - </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Holdings Ltd. 2010 Restricted Stock Unit Plan and is intended to conform to the RenaissanceRe Holdings Ltd. 2016 Long-Term Incentive Plan, which was approved by shareholders at the Company&#146;s
2016 Annual General Meeting of Shareholders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Plan permits the Board to grant to eligible employees (or prospective employees), non-employee directors
and consultants or advisors of the Company or any of its affiliates, restricted stock units (&#147;RSUs&#148;). Each RSU granted under the Plan will represent the right of the participant to receive a cash amount equal to the fair market value of
one share of the Company&#146;s common stock on a specified settlement date, subject to his or her satisfaction of the applicable vesting conditions set forth in an individual award agreement. Each RSU will be settled in cash on the first
administratively practicable payroll date immediately following its vesting date. Participants will be entitled to receive dividend equivalent payments in respect of outstanding RSUs granted under the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">With respect to any RSU granted under the Plan that is assumed or substituted in connection with a change in control of the Company, the vesting or settlement
of such RSU may not be accelerated by reason of the change in control for any participant unless such participant experiences an involuntary termination as a result of the change in control. Any RSU held by a participant who experiences an
involuntary termination as a result of a change in control will immediately vest as of the date of such termination, unless otherwise provided for in his or her individual award agreement or employment or services agreement with the Company or its
affiliates. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The foregoing summary does not purport to be a complete description of all of the provisions of the Plan and is qualified in its entirety by
reference to the full text of the Plan and form of Restricted Stock Unit Agreement under the Plan, which are attached as Exhibits&nbsp;10.2 and 10.3 to this Current Report on Form 8-K. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item 9.01 Financial Statements and Exhibits </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top">Exhibits. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The following exhibits are filed as part of this report: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="91%"></TD></TR>
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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:31.30pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit&nbsp;#</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:39.50pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Description</B></P></TD></TR>


<TR STYLE="font-size:1pt">
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Third Amendment to Letter of Credit Reimbursement Agreement, dated as of November 8, 2016, by and among Renaissance Reinsurance Ltd., various lenders, Bank of Montreal, Citibank Europe plc and ING Bank N.V., London Branch.</TD></TR>

<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">RenaissanceRe Holdings Ltd. 2016 Restricted Stock Unit Plan.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Form of Restricted Stock Unit Agreement pursuant to which restricted stock unit grants are made under the RenaissanceRe Holdings Ltd. 2016 Restricted Stock Unit Plan.</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 3 - </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>SIGNATURES </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="5">RENAISSANCERE HOLDINGS LTD.</TD></TR>
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<TD VALIGN="top">Date: November 10, 2016</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Stephen H. Weinstein</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Stephen H. Weinstein</TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Senior Vice President, Group General Counsel and Corporate Secretary</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 4 - </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INDEX TO EXHIBITS </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD WIDTH="91%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:31.30pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit&nbsp;#</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:39.50pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Description</B></P></TD></TR>


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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Third Amendment to Letter of Credit Reimbursement Agreement, dated as of November 8, 2016, by and among Renaissance Reinsurance Ltd., various lenders, Bank of Montreal, Citibank Europe plc and ING Bank N.V., London Branch</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP>10.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">RenaissanceRe Holdings Ltd. 2016 Restricted Stock Unit Plan.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Form of Restricted Stock Unit Agreement pursuant to which restricted stock unit grants are made under the RenaissanceRe Holdings Ltd. 2016 Restricted Stock Unit Plan.</TD></TR>
</TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>THIRD AMENDMENT TO LETTER OF CREDIT REIMBURSEMENT AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Third Amendment to Letter of Credit Reimbursement Agreement, dated as of November 8, 2016 (this &#147;<U>Amendment</U>&#148;), amends the
Letter of Credit Reimbursement Agreement, dated as of November 23, 2015 (as previously amended, the &#147;<U>Agreement</U>&#148;), among Renaissance Reinsurance Ltd. (the &#147;<U>Borrower</U>&#148;), various lenders party thereto, Bank of Montreal,
as Documentation Agent, Citibank Europe plc, as Collateral Agent, and ING Bank N.V., London Branch, as Letter of Credit Agent.&nbsp;Capitalized terms used herein and not otherwise defined shall have the respective meanings ascribed thereto in the
Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the parties hereto desire to amend the Agreement in certain respects as hereinafter set forth; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration (the receipt and sufficiency of which are
hereby acknowledged), the parties hereto agree as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 1. <U>AMENDMENTS</U>.&nbsp;As of the Third Amendment Effective Date
(as defined below), the Agreement shall be amended as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.1 <U>Amendment to Recital</U>.&nbsp;The first WHEREAS clause is amended
by deleting &#147;2016&#148; and inserting &#147;2017 therefor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.2 <U>Amendments to Section 1.1</U>.&nbsp;Section 1.1 of the Agreement
is amended as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(a) The definition of &#147;Full Collateralization Event&#148; is amended by deleting the words &#147;December 31,
2016&#148; and inserting &#147;December 31, 2017&#148; therefor. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(b) The definition of &#147;Letter of Credit Agent&#148; is amended in
its entirety to read as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Letter of Credit Agent</U>&#148; means ING Bank N.V., London Branch located at 8-10 Moorgate,
London EC2R 6DA, as Letter of Credit Agent for the Lenders, together with any replacement Letter of Credit Agent arising under <U>Section 11</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.3 <U>Amendment to Section 2.1(c)</U>.&nbsp;Section 2.1(c) of the Agreement is amended by deleting the words &#147;December 31, 2015&#148;
and inserting &#147;December 31, 2016&#148; therefor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.4 <U>Amendment to Section 2.2</U>.&nbsp;Section 2.2 of the Agreement in amended
in its entirety to read as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">2.2 <U>Conversion Principles</U>.&nbsp;Determination of the Dollar amount of any Letter of Credit Fees
shall be made by the Letter of Credit Agent on the last day of the each fiscal quarter (or such other date as may be required under <U>Section 3.1(a))</U> based on upon the Conversion Rate as of such date of determination.&nbsp;Determination of the
Dollar amount of other Obligations denominated in Pounds will be converted to Dollars and such determination shall be made by the Letter of Credit Agent based upon the Conversion Rate as of such date of determination. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.5 <U>Amendment to Section 3.1(a)</U>.&nbsp;Section 3.1(a) of the Agreement is amended in its
entirety to read as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(a) The Borrower agrees to pay to the Letter of Credit Agent for the account of each Lender in accordance
with, subject to <U>Section 3.4</U>, its Applicable Percentage in Dollars a Letter of Credit Fee with respect to each Letter of Credit from and including the Existing Agreement Termination Date until the date such Letter of Credit is fully drawn by
the beneficiary, canceled or expired, in an amount equal to the Applicable Letter of Credit Fee Rate on the aggregate amount from time to time available to be drawn on such Letter of Credit.&nbsp;The Letter of Credit Fees (i) for Letters of Credit
denominated in Dollars shall be calculated with respect to actual days elapsed on the basis of a 360-day year, (ii) for Letters of Credit denominated in Pounds shall be calculated with respect to actual days elapsed on the basis of a 365-day year
and then converted to Dollars as provided in <U>Section&nbsp;2.2</U> and (iii) shall be payable quarterly in arrears on the last day of each fiscal quarter of the Borrower and upon the expiration, cancellation or utilization in full of such Letter
of Credit.&nbsp;During the continuance of an Event of Default, the Required Lenders may, at their option, by notice to the Borrower, declare that the Applicable Letter of Credit Fee Rate shall accrue at the Default Rate; <U>provided</U>, that during
the continuance of an Event of Default under <U>Section</U><U>&nbsp;</U><U>10.1(a)</U>, <U>(b)</U>, <U>(d)</U>, <U>(f)</U> or <U>(g)</U>, the Applicable Letter of Credit Fee Rate shall accrue at the Default Rate without any election or action on the
part of any Agent or any Lender.</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.6 <U>Amendment to Section 10.1(b)</U>.&nbsp;Section 10.1(b) of the Agreement is amended in its entirety
to read as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;The failure by the Borrower to pay any Fee or other amount when due under or in connection with any Credit
Document within five Business Days after receipt of an invoice therefor; or</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.&nbsp;<B><U>Representations and Warranties</U></B>. The
Borrower represents and warrants to the Agents and the Lenders that: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Authorization</U>.&nbsp;The Borrower has the requisite power
and authority to execute and deliver this Amendment and to perform and observe the terms and conditions stated herein and therein, and the Borrower has taken all necessary corporate or other action to authorize its execution, delivery and
performance of this Amendment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>No Conflict</U>.&nbsp;The Borrower&#146;s execution, delivery and performance of this Amendment do
not and will not: (i) violate or contravene its Organizational Documents; (ii) violate or contravene any order, writ, law, treaty, rule, regulation or determination of any Governmental Authority, in each case applicable to or binding upon it or any
of its property; or (iii) result in the breach of any provision of, or in the imposition of any lien or encumbrance (except for liens or encumbrances created under the Credit Documents) under, or constitute a default or event of default under, any
agreement or arrangement to which it is a party or by which it or any of its property is bound. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <U>Governmental Approvals</U>.&nbsp;No authorization, approval or consent of, or notice to or
filing with, any Governmental Authority is required to be made by the Borrower in connection with the execution and delivery by the Borrower of this Amendment or the issuance by the Lenders of any Letter of Credit, or amendment thereto, or other
Obligations for the account of the Borrower pursuant to the Agreement, except for those which have been duly obtained, taken, given or made and are in full force and effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <U>Enforceability</U>.&nbsp;This Amendment has been duly executed and delivered by the Borrower and is the legal, valid and binding
obligation of the Borrower, enforceable against the Borrower in accordance with its terms, except as affected by (i) applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer and other similar laws relating to or affecting
the enforcement of creditors&#146; rights generally and/or (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding at law or in equity). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <U>Representations and Warranties</U>.&nbsp;On the date hereof, each representation and warranty set forth in Section 7 of the Agreement,
as amended by this Amendment, is true and correct in all material respects on and as of the date hereof with the same effect as if made on and as of the date hereof (except to the extent any such representation or warranty is expressly stated to
have been made as of a specific date, in which case such representation or warranty was true and correct as of such date). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <U>No
Default</U>.&nbsp;No Event of Default or Unmatured Event of Default exists or will exist after giving effect to this Amendment or the issuance of any new Letters of Credit or amendments to existing Letters of Credit. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.&nbsp;<B><U>Effectiveness</U></B>. This Amendment shall become effective on the date (the &#147;<U>Third Amendment Effective Date</U>&#148;)
when the Documentation Agent has received each of the following, in form and substance satisfactory to the Documentation Agent: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a)
counterparts of this Amendment signed by the Borrower and each other party hereto; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) certified copies of resolutions of&nbsp;the
Governing Body of the Borrower authorizing or ratifying the execution, delivery and performance by the Borrower of this Amendment; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c)
certified copies of all documents&nbsp;evidencing any necessary corporate (or other similar) action, and any material third-party consents and governmental approvals (if any) required for the execution, delivery and performance by the Borrower of
this Amendment; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) confirmation that there have been no changes to the articles or certificate of formation (or similar charter
document) and the bylaws or operating agreement (or similar governing documents) of the Borrower since the Effective Date; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) opinion of
Willkie Farr &amp; Gallagher LLP addressed to the Lenders and the Agents confirming security interests continue in effect after giving effect to this Amendment; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Confirmation from Lloyd&#146;s that the Managing Agent has submitted all necessary documents
regarding its plan to provide Funds at Lloyd&#146;s; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) All amounts that are then due and payable pursuant to Section 3 and Section 12.4
of the Agreement; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) such other documents as any Agent or any Lender may reasonably request. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. <B><U>Miscellaneous</U></B>.</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) On and after the date hereof, as used in the Agreement, &#147;hereinafter,&#148; &#147;hereto,&#148; &#147;hereof&#148; and words of like
import and all references in the Agreement, the other Credit Documents and the respective exhibits and schedules thereto shall, unless the context otherwise requires, be deemed to be references to the Agreement as amended hereby and as further
amended from time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Except as expressly amended hereby, the parties hereto agree that the Agreement is ratified and confirmed,
as amended hereby, and shall remain in full force and effect in accordance with its terms and that all provisions of this Amendment are the legally binding and enforceable agreements of the parties hereto and their permitted successors and assigns.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) This Amendment and any claim, controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon, arising
out of or relating to this Amendment and the transactions contemplated hereby shall be governed by, and construed in accordance with, the law of the State of New York. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) The provisions of Sections 12.15 and 12.16 of the Agreement regarding, among other things, jurisdiction, service of process and waiver of
trial by jury, shall apply to this Amendment as if the same were set out in full herein in this place. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) This Amendment may be executed
in any number of counterparts and by the different parties hereto on separate counterparts and each such counterpart shall be deemed to be an original, but all such counterparts shall together constitute but one and the same Amendment.&nbsp;Delivery
of a counterpart hereof, or a signature page hereto, by facsimile or in a .pdf or similar file shall be effective as delivery of a manually executed original counterpart thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Section captions used in this Amendment are for convenience only and shall not affect the construction of this Amendment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[<I>Signature Page Follows</I>] </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment as of the date
first above written. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3">RENAISSANCE REINSURANCE LTD.</TD></TR>
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<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Stephen H. Weinstein</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">Stephen H. Weinstein</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">SVP, General Counsel, Chief Compliance Officer &amp; Secretary</P></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-1 </P>


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 <DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3">BANK OF MONTREAL, as Documentation Agent</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Joan Murphy</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">Joan Murphy</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">Director</P></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-2 </P>


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<TD VALIGN="top" COLSPAN="3">BANK OF MONTREAL, LONDON BRANCH, as a Lender</TD></TR>
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<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Anthony Ebdon</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">Anthony Ebdon</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">MD</P></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jean-Jacques du Hellen</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">Jean-Jacques du Hellen</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">MD</P></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-3 </P>


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<TD VALIGN="top" COLSPAN="3">CITIBANK EUROPE PLC., as Collateral Agent and a Lender</TD></TR>
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<TD VALIGN="top">By:</TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Niall Tuckey</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">Niall Tuckey</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">Director</P></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-4 </P>


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<TD VALIGN="top" COLSPAN="3">ING BANK N.V., LONDON BRANCH., as Letter of Credit Agent and a Lender</TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Mike Sharman</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">Mike Sharman</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">Managing Director</P></TD></TR>
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<TD VALIGN="top">By:</TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Ian Taylor</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">Ian Taylor</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">Managing Director</P></TD></TR>
</TABLE></DIV>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RENAISSANCERE HOLDINGS LTD. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2016 RESTRICTED STOCK UNIT PLAN </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <B>P<SMALL>URPOSE</SMALL>.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The purpose of the Plan is to assist the Company in attracting, retaining, motivating, and rewarding certain employees, officers, directors,
and consultants of the Company and its Affiliates and promoting the creation of long-term value for shareholders of the Company by closely aligning the interests of such individuals with those of such shareholders. The Plan authorizes the award of
phantom equity in the form of Restricted Stock Units to Eligible Persons to encourage such Eligible Persons to expend maximum effort in the creation of shareholder value. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <B>D<SMALL>EFINITIONS</SMALL>.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) &#147;<U>Affiliate</U>&#148; means, with respect to a Person, any other Person that, directly or indirectly through one or more
intermediaries, controls, is controlled by, or is under common control with, such Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) &#147;<U>Board</U>&#148; means the Board of
Directors of the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) &#147;<U>Cause</U>&#148; means, with respect to a Participant and in the absence of a Restricted Stock Unit
Agreement or Participant Agreement otherwise defining Cause, (1)&nbsp;the Participant&#146;s plea of <I>nolo contendere</I> to, conviction of or indictment for, any crime (whether or not involving the Company or its Affiliates) (i)&nbsp;constituting
a felony or (ii)&nbsp;that has, or could reasonably be expected to result in, an adverse impact on the performance of the Participant&#146;s duties to the Service Recipient, or otherwise has, or could reasonably be expected to result in, an adverse
impact on the business or reputation of the Company or its Affiliates, (2)&nbsp;conduct of the Participant, in connection with his or her employment or service, that has resulted, or could reasonably be expected to result, in material injury to the
business or reputation of the Company or its Affiliates, (3)&nbsp;any material violation of the policies of the Service Recipient, including, but not limited to, those relating to sexual harassment or the disclosure or misuse of confidential
information, or those set forth in the manuals or statements of policy of the Service Recipient; (4)&nbsp;the Participant&#146;s act(s) of gross negligence or willful misconduct in the course of his or her employment or service with the Service
Recipient; (5)&nbsp;misappropriation by the Participant of any assets or business opportunities of the Company or its Affiliates; (6)&nbsp;embezzlement or fraud committed by the Participant, at the Participant&#146;s direction, or with the
Participant&#146;s prior actual knowledge; or (7)&nbsp;willful neglect in the performance of the Participant&#146;s duties for the Service Recipient or willful or repeated failure or refusal to perform such duties.&nbsp;If, subsequent to the
Termination of a Participant for any reason other than by the Service Recipient for Cause, it is discovered that the Participant&#146;s employment or service could have been terminated for Cause, such Participant&#146;s employment or service shall,
at the discretion of the Committee, be deemed to have been terminated by the Service Recipient for Cause for all purposes under the Plan, and the Participant shall be required to repay to the Company all amounts received by him or her in respect of
any Restricted Stock Unit following such Termination that would have been forfeited under the Plan had such Termination been by the Service Recipient for Cause.&nbsp;In the event that there is a Restricted Stock Unit Agreement or Participant
Agreement defining Cause, &#147;<U>Cause</U>&#148; </P>

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shall have the meaning provided in such agreement, and a Termination by the Service Recipient for Cause hereunder shall not be deemed to have occurred unless all applicable notice and cure
periods in such Restricted Stock Unit Agreement or Participant Agreement are complied with. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) &#147;<U>Change in Control</U>&#148;
means: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) a change in ownership or control of the Company effected through a transaction or series of transactions (other
than an offering of Stock to the general public through a registration statement filed with the U.S.&nbsp;Securities and Exchange Commission or similar <FONT STYLE="white-space:nowrap">non-U.S.</FONT> regulatory agency or pursuant to a Non-Control
Transaction) whereby any &#147;person&#148; (as defined in Section&nbsp;3(a)(9) of the Exchange Act) or any two or more persons deemed to be one &#147;person&#148; (as used in Sections&nbsp;13(d)(3) and 14(d)(2) of the Exchange Act), other than the
Company or any of its Affiliates, an employee benefit plan sponsored or maintained by the Company or any of its Affiliates (or its related trust), or any underwriter temporarily holding securities pursuant to an offering of such securities, directly
or indirectly acquire &#147;beneficial ownership&#148; (within the meaning of Rule 13d-3 under the Exchange Act) of securities of the Company possessing more than fifty percent (50%) of the total combined voting power of the Company&#146;s
securities eligible to vote in the election of the Board (the&nbsp;&#147;<U>Company Voting Securities</U>&#148;); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the
date, within any consecutive twenty-four (24) month period commencing on or after the Effective Date, upon which individuals who constitute the Board as of the Effective Date (the&nbsp;&#147;<U>Incumbent Board</U>&#148;) cease for any reason to
constitute at least a majority of the Board; <I>provided, however</I>, that any individual who becomes a director subsequent to the Effective Date whose election or nomination for election by the Company&#146;s shareholders was approved by a vote of
at least a majority of the directors then constituting the Incumbent Board (either by a specific vote or by approval of the proxy statement of the Company in which such individual is named as a nominee for director, without objection to such
nomination) shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest
(including, but not limited to, a consent solicitation) with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the consummation of a merger, consolidation, share exchange, or similar form of corporate transaction involving the
Company or any of its Affiliates that requires the approval of the Company&#146;s shareholders (whether for such transaction, the issuance of securities in the transaction or otherwise) (a&nbsp;&#147;<U>Reorganization</U>&#148;), unless immediately
following such Reorganization (i)&nbsp;more than fifty percent (50%) of the total voting power of (A)&nbsp;the corporation resulting from such Reorganization (the&nbsp;&#147;<U>Surviving Company</U>&#148;) or (B)&nbsp;if applicable, the ultimate
parent corporation that has, directly or indirectly, beneficial ownership of one hundred percent (100%) of the voting securities of the Surviving Company (the&nbsp;&#147;<U>Parent Company</U>&#148;), is represented by Company Voting Securities that
were outstanding immediately prior to such Reorganization (or, if applicable, is represented by shares into which such Company </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 2 - </P>


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Voting Securities were converted pursuant to such Reorganization), and such voting power among the holders thereof is in substantially the same proportion as the voting power of such Company
Voting Securities among holders thereof immediately prior to such Reorganization, (ii)&nbsp;no Person, other than an employee benefit plan sponsored or maintained by the Surviving Company or the Parent Company (or its related trust), is or becomes
the beneficial owner, directly or indirectly, of fifty percent (50%) or more of the total voting power of the outstanding voting securities eligible to elect directors of the Parent Company, or if there is no Parent Company, the Surviving Company,
and (iii)&nbsp;at least a majority of the members of the board of directors of the Parent Company, or if there is no Parent Company, the Surviving Company, following the consummation of such Reorganization are members of the Incumbent Board at the
time of the Board&#146;s approval of the execution of the initial agreement providing for such Reorganization (any Reorganization which satisfies all of the criteria specified in clauses&nbsp;(i), (ii), and (iii) above shall be
a&nbsp;&#147;<U>Non-Control Transaction</U>&#148;); or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) the sale or disposition, in one or a series of related
transactions, of all or substantially all of the assets of the Company to any &#147;person&#148; (as defined in Section&nbsp;3(a)(9) of the Exchange Act) or to any two or more persons deemed to be one &#147;person&#148; (as used in
Sections&nbsp;13(d)(3) and 14(d)(2) of the Exchange Act) other than the Company&#146;s Affiliates. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, (x)&nbsp;a Change in
Control shall not be deemed to occur solely because any person acquires beneficial ownership of fifty percent (50%) or more of the Company Voting Securities as a result of an acquisition of Company Voting Securities by the Company that reduces the
number of Company Voting Securities outstanding; <I>provided</I> that if after such acquisition by the Company such person becomes the beneficial owner of additional Company Voting Securities that increases the percentage of outstanding Company
Voting Securities beneficially owned by such person, a Change in Control shall then be deemed to occur, and (y)&nbsp;with respect to the payment of any amount that constitutes a deferral of compensation subject to Section&nbsp;409A of the Code
payable upon a Change in Control, a Change in Control shall not be deemed to have occurred, unless the Change in Control constitutes a change in the ownership or effective control of the Company or in the ownership of a substantial portion of the
assets of the Company under Section&nbsp;409A(a)(2)(A)(v) of the Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) &#147;<U>Code</U>&#148; means the U.S.&nbsp;Internal Revenue
Code of 1986, as amended from time to time, including the rules and regulations thereunder and any successor provisions, rules and regulations thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) &#147;<U>Committee</U>&#148; means the Board or such other committee consisting of two or more individuals appointed by the Board to
administer the Plan and each other individual or committee of individuals designated to exercise authority under the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g)
&#147;<U>Company</U>&#148; means RenaissanceRe Holdings Ltd., a Bermuda company, and its successors by operation of law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h)
&#147;<U>Effective Date</U>&#148; means November&nbsp;10, 2016. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 3 - </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) &#147;<U>Eligible Person</U>&#148; means (i)&nbsp;each employee and officer of the Company or
any of its Affiliates; (ii)&nbsp;each non-employee director of the Company or any of its Affiliates; (iii)&nbsp;each other natural Person who provides substantial services to the Company or any of its Affiliates as a consultant or advisor (or a
wholly owned alter ego entity of the natural Person providing such services of which such Person is an employee, shareholder or partner) and who is designated as eligible by the Committee; and (iv)&nbsp;any natural Person who has been offered
employment by the Company or its Affiliates; <I>provided</I> that such prospective employee may not receive any payment relating to the settlement of Restricted Stock Units until such Person has commenced employment with the Company or any of its
Affiliates.&nbsp;An employee on an approved leave of absence may be considered as still in the employ of the Company or any of its Affiliates for purposes of eligibility for participation in the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) &#147;<U>Exchange Act</U>&#148; means the U.S.&nbsp;Securities Exchange Act of 1934, as amended from time to time, including the rules and
regulations thereunder and any successor provisions, rules and regulations thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) &#147;<U>Fair Market Value</U>&#148; means, as of
any date when the Stock is listed on one or more national securities exchanges, the closing price reported on the principal national securities exchange on which such Stock is listed and traded on the date of determination or, if the closing price
is not reported on such date of determination, the closing price reported on the most recent date prior to the date of determination.&nbsp;If the Stock is not listed on a national securities exchange, &#147;<U>Fair Market Value</U>&#148; shall mean
the amount determined by the Board in good faith, and in a manner consistent with Section&nbsp;409A of the Code, to be the fair market value per share of Stock. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) &#147;<U>Good Reason</U>&#148; means, with respect to a Participant and in the absence of a Restricted Stock Unit Agreement or Participant
Agreement otherwise defining Good Reason, without the Participant&#146;s consent, (i)&nbsp;a material diminution in the Participant&#146;s employment duties, responsibilities, or authority, or the assignment to the Participant of duties that are
materially inconsistent with his or her position; (ii)&nbsp;a material reduction in the Participant&#146;s base salary or target annual bonus or incentive compensation opportunity; or (iii)&nbsp;a relocation of the Participant&#146;s principal place
of employment to a location more than thirty-five (35) miles farther from his or her principal residence than the location at which the Participant was employed immediately preceding such change.&nbsp;In no event will a Participant have the right to
terminate his or her employment for Good Reason unless (x)&nbsp;such Participant provides written notice to the Company within ninety (90) days after the initial occurrence of the event or condition that gives such Participant the right to terminate
his or her employment for Good Reason and (y)&nbsp;the Company has not cured such Participant&#146;s right to terminate his or her employment for Good Reason within thirty (30) days of the receipt of such written notice by the Company.&nbsp;In the
event that there is a Restricted Stock Unit Agreement or Participant Agreement defining Good Reason, &#147;<U>Good Reason</U>&#148; shall have the meaning provided in such agreement, and a Termination by the Participant for Good Reason hereunder
shall not be deemed to have occurred unless all applicable notice and cure periods in such Restricted Stock Unit Agreement or Participant Agreement are complied with. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 4 - </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(m) &#147;<U>Participant</U>&#148; means an Eligible Person who has been granted Restricted Stock
Units under the Plan or, if applicable, such other Person who holds Restricted Stock Units. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(n) &#147;<U>Participant Agreement</U>&#148;
means an employment or other services agreement between a Participant and the Service Recipient that describes the terms and conditions of such Participant&#146;s employment or service with the Service Recipient and is effective as of the date of
determination. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(o) &#147;<U>Payment Date</U>&#148; shall mean the Service Recipient&#146;s first administratively practicable payroll
date immediately following the Vesting Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(p) &#147;<U>Person</U>&#148; means any individual, corporation, partnership, firm, joint
venture, association, joint-stock company, trust, unincorporated organization, or other entity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(q) &#147;<U>Plan</U>&#148; means this
RenaissanceRe Holdings Ltd. 2016 Restricted Stock Unit Plan, as amended from time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(r) <U>Qualified Member</U>&#148; means a
member of the Committee who is a &#147;Non-Employee Director&#148; within the meaning of Rule 16b-3 under the Exchange Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(s)
&#147;<U>Restricted Stock Unit</U>&#148; means a notional unit representing the right to receive a cash amount equal to the Fair Market Value of one share of Stock on a specified settlement date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(t) &#147;<U>Restricted Stock Unit Agreement</U>&#148; means a written agreement between the Company and a Participant evidencing the terms
and conditions of an individual Restricted Stock Unit grant. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(u) &#147;<U>Service Recipient</U>&#148; means, with respect to a
Participant holding Restricted Stock Units, either the Company or an Affiliate by which the original recipient of such Restricted Stock Units is, or following a Termination was most recently, principally employed or to which such original recipient
provides, or following a Termination was most recently providing, services, as applicable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(v) &#147;<U>Stock</U>&#148; means the full
voting common shares, par value $1.00 per share, of the Company, and such other securities as may be substituted for such stock pursuant to Section&nbsp;5 hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(w) &#147;<U>Termination</U>&#148; means the termination of a Participant&#146;s employment or service, as applicable, with the Service
Recipient; <I>provided</I>, <I>however</I>, that, if so determined by the Committee at the time of any change in status in relation to the Service Recipient (<I>e</I>.<I>g</I>., a Participant ceases to be an employee and begins providing services as
a consultant, or vice versa), such change in status will not be deemed a Termination hereunder.&nbsp;Unless otherwise determined by the Committee, in the event that the Service Recipient ceases to be an Affiliate of the Company (by reason of sale,
divestiture, spin-off, or other similar transaction), unless a Participant&#146;s employment or service is transferred to another entity that </P>
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would constitute the Service Recipient immediately following such transaction, such Participant shall be deemed to have suffered a Termination hereunder as of the date of the consummation of such
transaction.&nbsp;Notwithstanding anything herein to the contrary, a Participant&#146;s change in status in relation to the Service Recipient (for example, a change from employee to consultant) shall not be deemed a Termination hereunder with
respect to any Restricted Stock Units constituting &#147;nonqualified deferred compensation&#148; subject to Section&nbsp;409A of the Code that are payable upon a Termination unless such change in status constitutes a &#147;separation from
service&#148; within the meaning of Section&nbsp;409A of the Code.&nbsp;Any payments in respect of Restricted Stock Units constituting nonqualified deferred compensation subject to Section&nbsp;409A of the Code that are payable upon a Termination
shall be delayed for such period as may be necessary to meet the requirements of Section&nbsp;409A(a)(2)(B)(i) of the Code. On the first business day following the expiration of such period, the Participant shall be paid, in a single lump sum
without interest, an amount equal to the aggregate amount of all payments delayed pursuant to the preceding sentence, and any remaining payments not so delayed shall continue to be paid pursuant to the payment schedule applicable to such Restricted
Stock Units. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(x) &#147;<U>Vesting Date</U>&#148; means, with respect to any Restricted Stock Unit, the date upon which the applicable
vesting conditions set forth in a Participant&#146;s Restricted Stock Unit Agreement are satisfied. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.
<B>A<SMALL>DMINISTRATION</SMALL></B><SMALL><B></B></SMALL><B>.</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Authority of the Committee</U>.&nbsp;Except as otherwise
provided below, the Plan shall be administered by the Committee. The Committee shall have full and final authority, in each case subject to and consistent with the provisions of the Plan, to (i) select Eligible Persons to become Participants;
(ii)&nbsp;grant Restricted Stock Units; (iii)&nbsp;determine the terms and conditions of, and all other matters relating to, Restricted Stock Units; (iv) prescribe Restricted Stock Unit Agreements (which need not be identical for each Participant)
and rules and regulations for the administration of the Plan; (v)&nbsp;construe and interpret the Plan and Restricted Stock Unit Agreements and correct defects, supply omissions, and reconcile inconsistencies therein; and (vi)&nbsp;make all other
decisions and determinations as the Committee may deem necessary or advisable for the administration of the Plan.&nbsp;Any action of the Committee shall be final, conclusive, and binding on all Persons, including, without limitation, the Company,
its shareholders and Affiliates, Eligible Persons, Participants, and beneficiaries of Participants.&nbsp;Notwithstanding anything in the Plan to the contrary, the Committee shall have the ability to accelerate the vesting of any outstanding
Restricted Stock Units at any time and for any reason, subject to Section&nbsp;5(b), or in the event of a Participant&#146;s Termination by the Service Recipient other than for Cause, by the Participant for Good Reason, or due to the
Participant&#146;s death, disability or retirement (as such terms may be defined in an applicable Restricted Stock Unit Agreement or Participant Agreement, or, if no such definition exists, in accordance with the Company&#146;s then-current
employment policies and guidelines).&nbsp;For the avoidance of doubt, the Board shall have the authority to take all actions under the Plan that the Committee is permitted to take. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Manner of Exercise of Committee Authority</U>.&nbsp;At any time that a member of the Committee is not a Qualified Member, any action of
the Committee relating to Restricted Stock Units granted or to be granted to a Participant who is then subject to Section&nbsp;16 </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 6 - </P>


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of the Exchange Act in respect of the Company, must be taken by the remaining members of the Committee or a subcommittee, designated by the Committee or the Board, composed solely of two or more
Qualified Members (a &#147;<U>Qualifying Committee</U>&#148;). Any action authorized by such a Qualifying Committee shall be deemed the action of the Committee for purposes of the Plan. The express grant of any specific power to a Qualifying
Committee, and the taking of any action by such a Qualifying Committee, shall not be construed as limiting any power or authority of the Committee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Delegation</U>.&nbsp;To the extent permitted by applicable law, the Committee may delegate to officers or employees of the Company or
any of its Affiliates, or committees thereof, the authority, subject to such terms as the Committee shall determine, to perform such functions under the Plan, including, but not limited to, administrative functions, as the Committee may determine
appropriate.&nbsp;The Committee may appoint agents to assist it in administering the Plan.&nbsp;Any actions taken by an officer or employee delegated authority pursuant to this Section&nbsp;3(c) within the scope of such delegation shall, for all
purposes under the Plan, be deemed to be an action taken by the Committee.&nbsp;Notwithstanding the foregoing or any other provision of the Plan to the contrary, any Restricted Stock Units granted under the Plan to any Eligible Person who is not an
employee of the Company or any of its Affiliates (including any non-employee director of the Company or any Affiliate) or to any Eligible Person who is subject to Section&nbsp;16 of the Exchange Act must be expressly approved by the Committee or
Qualifying Committee in accordance with subsection&nbsp;(b) above. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. <B>R<SMALL>ESTRICTED</SMALL> S<SMALL>TOCK</SMALL>
U<SMALL>NITS</SMALL></B><SMALL><B></B></SMALL><B>.</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>General</U>.&nbsp;Restricted Stock Units may be granted to Eligible Persons
in such form and having such terms and conditions as the Committee shall deem appropriate.&nbsp;The provisions of separate Restricted Stock Units shall be set forth in separate Restricted Stock Unit Agreements, which agreements need not be
identical.&nbsp;Notwithstanding anything contained in the Restricted Stock Unit Agreement, the Committee shall have the authority to remove any or all of the conditions imposed on, and restrictions relating to, the Restricted Stock Units whenever it
may determine that, by reason of changes in applicable laws or other changes in circumstances arising after the applicable date of grant, such action is appropriate. Participants shall have no rights with respect to the Restricted Stock Units
granted hereunder beyond those of a general creditor of the Company, and such Restricted Stock Units represent an unfunded and unsecured obligation of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Dividend Equivalents</U>.&nbsp;If, during the time a Restricted Stock Unit remains outstanding, a cash dividend is declared and paid by
the Company in respect of the Stock, except as otherwise provided in a Participant&#146;s Restricted Stock Unit Agreement, for each outstanding Restricted Stock Unit then held by such Participant, such Participant shall be entitled to a dividend
equivalent amount equal to the cash dividend paid by the Company upon one share of Stock. Except as provided by the Committee in a Restricted Stock Unit Agreement, Participant Agreement or otherwise, dividend equivalent amounts shall be retained by
the Company and credited to a notional, non-interest bearing, bookkeeping account, and shall be paid to Participants at the same time the Restricted Stock Units to which such dividend equivalent amounts relate are settled in accordance with the
Plan.&nbsp;To the extent that such Restricted Stock Units are forfeited prior to settlement, so too will any related dividend equivalent amounts. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 7 - </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Settlement</U>.&nbsp;Restricted Stock Units shall be settled in cash on the Payment Date
following the applicable Vesting Date for such vested Restricted Stock Units.&nbsp;The Company shall deduct from all amounts paid to the Participant under the Plan all U.S.&nbsp;federal, state, local, and other taxes required by law to be withheld
with respect to such payments. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Termination of Employment or Service</U>.&nbsp;Except as provided by the Committee in a Restricted
Stock Unit Agreement, Participant Agreement or otherwise, in the event of a Participant&#146;s Termination for any reason prior to the time that such Participant&#146;s Restricted Stock Units have vested, (1)&nbsp;all vesting with respect to such
Participant&#146;s Restricted Stock Units outstanding shall cease; (2)&nbsp;all of such Participant&#146;s unvested Restricted Stock Units outstanding shall be forfeited for no consideration as of the date of such Termination, and (3)&nbsp;any
vested Restricted Stock Units then held by such Participant that have not been settled shall be settled as soon as practicable following the date of such Termination and in no event later than the Payment Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5. <B>A<SMALL>DJUSTMENT</SMALL> <SMALL>FOR</SMALL> R<SMALL>ECAPITALIZATION</SMALL>, M<SMALL>ERGER</SMALL>, <SMALL>ETC</SMALL>.</B><B>;
C<SMALL>HANGE</SMALL> <SMALL>IN</SMALL> C<SMALL>ONTROL</SMALL></B><SMALL><B></B></SMALL><B>.</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Capitalization
Adjustments</U>.&nbsp;The number of shares of Stock covered by each outstanding Restricted Stock Unit shall be equitably and proportionally adjusted or substituted, as determined by the Committee, in its sole discretion, as to the number, price, or
kind of a share of Stock or other consideration subject to such Restricted Stock Unit (i)&nbsp;in the event of changes in the outstanding Stock or in the capital structure of the Company by reason of stock dividends, extraordinary cash dividends,
stock splits, reverse stock splits, recapitalizations, reorganizations, mergers, amalgamations, consolidations, combinations, exchanges, or other relevant changes in capitalization occurring after the date of grant of any Restricted Stock Unit;
(ii)&nbsp;in connection with any extraordinary dividend declared and paid in respect of shares of Stock, whether payable in the form of cash, stock, or any other form of consideration; or (iii)&nbsp;in the event of any change in applicable laws or
circumstances that results in or could result in, in either case, as determined by the Committee in its sole discretion, any substantial dilution or enlargement of the rights intended to be granted to, or available for, Participants in the Plan.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Double-Trigger Vesting</U>.&nbsp;Notwithstanding any other provisions of the Plan, a Restricted Stock Unit Agreement or
Participant Agreement to the contrary, with respect to any Restricted Stock Unit that is assumed or substituted in connection with a Change in Control, the vesting or settlement of such Restricted Stock Unit may not be accelerated by reason of the
Change in Control for any Participant unless the Participant experiences an involuntary Termination as a result of the Change in Control. Unless otherwise provided for in a Restricted Stock Unit Agreement or Participant Agreement, any Restricted
Stock Unit held by a Participant who experiences an involuntary Termination as a result of a Change in Control shall immediately vest as of the date of such Termination. For purposes of this Section&nbsp;5(b), a Participant will be deemed to
experience an involuntary Termination as a result of a Change in Control if the Participant experiences a Termination by the Service Recipient other than for Cause or by the Participant for Good Reason, or otherwise experiences a Termination under
</P>
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circumstances which entitle the Participant to mandatory severance payment(s) pursuant to applicable law or, in the case of a non-employee director of the Company, if the non-employee
director&#146;s service on the Board terminates in connection with or as a result of a Change in Control, in each case, at any time beginning on the date of the Change in Control up to and including the second (2nd) anniversary of the Change in
Control. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6. <B>T<SMALL>RANSFERABILITY</SMALL> <SMALL>OF</SMALL> A<SMALL>WARDS</SMALL>.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Restricted Stock Units may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the
applicable laws of descent and distribution.&nbsp;Notwithstanding the foregoing, Restricted Stock Units and a Participant&#146;s rights under the Plan shall be transferable for no value to the extent provided in a Restricted Stock Unit Agreement or
otherwise determined at any time by the Committee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7. <B>E<SMALL>MPLOYMENT</SMALL> <SMALL>OR</SMALL> S<SMALL>ERVICE</SMALL>
R<SMALL>IGHTS</SMALL>.</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">No individual shall have any claim or right to be granted Restricted Stock Units under the Plan or, having
been selected for the grant of Restricted Stock Units, to be selected for the grant of any other Restricted Stock Units.&nbsp;Neither the Plan nor any action taken hereunder shall be construed as giving any individual any right to be retained in the
employ or service of the Company or an Affiliate of the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8. <B>A<SMALL>MENDMENT</SMALL> <SMALL>OF</SMALL> <SMALL>THE</SMALL>
P<SMALL>LAN</SMALL> <SMALL>OR</SMALL> A<SMALL>WARDS</SMALL></B><SMALL><B></B></SMALL><B>; P<SMALL>LAN</SMALL> T<SMALL>ERMINATION</SMALL>.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Amendment</U>.&nbsp;The Board or the Committee, at any time, and from time to time, may amend the Plan and/or the terms of the
Restricted Stock Units; <I>provided, however</I>, that the rights provided under Restricted Stock Units outstanding at the time of any such amendment shall not be impaired by any such amendment unless the Participant consents in writing (it being
understood that no action taken by the Board or the Committee that is expressly permitted under the Plan, including, without limitation, any actions described in Section&nbsp;5 hereof, shall constitute an amendment to the Plan or a Restricted Stock
Unit for such purpose).&nbsp;Notwithstanding the foregoing, subject to the limitations of applicable law, if any, and without an affected Participant&#146;s consent, the Board or the Committee may amend the terms of the Plan or any one or more
Restricted Stock Units from time to time as necessary to bring such Restricted Stock Units into compliance with applicable law, including, without limitation, Section&nbsp;409A of the Code and Section&nbsp;457A of the Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Termination or Suspension of Plan</U>.&nbsp;The Board may suspend or terminate the Plan at any time.&nbsp;No Restricted Stock Units may
be granted under the Plan while the Plan is suspended or after it is terminated; <I>provided</I>, <I>however</I>, that following any suspension or termination of the Plan, the Plan shall remain in effect for the purpose of governing all Restricted
Stock Units then outstanding hereunder until such time as all Restricted Stock Units under the Plan have been terminated, forfeited, or otherwise canceled, or earned, settled, or otherwise paid out, in accordance with their terms. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9. <B>E<SMALL>FFECTIVE</SMALL> D<SMALL>ATE</SMALL> <SMALL>OF</SMALL> <SMALL>THE</SMALL> P<SMALL>LAN</SMALL>.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Plan is effective as of the Effective Date. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10. <B>M<SMALL>ISCELLANEOUS</SMALL>.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Section 409A; Section 457A</U>.&nbsp;It is intended that the payments to be made under this Plan comply with the &#147;short-term
deferral exemption&#148; provided under each of Section 409A and 457A of the Code and the regulations promulgated thereunder, and the Committee shall interpret the Plan provisions accordingly.&nbsp;Notwithstanding such, in no event whatsoever shall
the Company or any of its affiliates be liable for any additional tax, interest, or penalties that may be imposed on any Participant by Section 409A or 457A of the Code or any damages for failing to comply with Section 409A or 457A of the Code or
any similar state or local laws (other than for withholding obligations or other obligations applicable to employers, if any, under Sections&nbsp;409A and 457A of the Code). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Other Benefits</U>.&nbsp;No Restricted Stock Units granted or paid out under the Plan shall be deemed compensation for purposes of
computing benefits under any retirement plan of the Company or its Affiliates nor affect any benefits under any other benefit plan now or subsequently in effect under which the availability or amount of benefits is related to the level of
compensation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Corporate Action Constituting Grant of Awards</U>.&nbsp;Corporate action constituting a grant by the Company of
Restricted Stock Units to any Participant will be deemed completed as of the date of such corporate action, unless otherwise determined by the Committee, regardless of when the instrument, certificate, or letter evidencing the Restricted Stock Units
is communicated to, or actually received or accepted by, the Participant.&nbsp;In the event that the corporate records (<I>e</I>.<I>g</I>., Committee consents, resolutions or minutes) documenting the corporate action constituting the grant contain
terms (<I>e</I>.<I>g</I>., exercise price, vesting schedule or number of shares of Stock) that are inconsistent with those in the Restricted Stock Unit Agreement as a result of a clerical error in connection with the preparation&nbsp;of the
Restricted Stock Unit Agreement, the corporate records will control and the Participant will have no legally binding right to the incorrect term in the Restricted Stock Unit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Clawback/Recoupment Policy</U>.&nbsp;Notwithstanding anything contained herein to the contrary, all Restricted Stock Units granted
under the Plan shall be and remain subject to any incentive compensation clawback or recoupment policy currently in effect or as may be adopted by the Board (or a committee or subcommittee of the Board) and, in each case, as may be amended from time
to time.&nbsp;No such policy adoption or amendment shall in any event require the prior consent of any Participant.&nbsp;No recovery of compensation under such a clawback policy will be an event giving rise to a right to resign for &#147;good
reason&#148; or &#147;constructive termination&#148; (or similar term) under any agreement with the Company or any of its Affiliates.&nbsp;In the event that a Restricted Stock Unit is subject to more than one such policy, the policy with the most
restrictive clawback or recoupment provisions shall govern such Restricted Stock Unit, subject to applicable law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Data
Privacy</U>.&nbsp;As a condition of receipt of any Restricted Stock Units, each Participant explicitly and unambiguously consents to the collection, use, and transfer, in electronic or other form, of personal data as described in this
Section&nbsp;10(e) by and among, as applicable, the Company and its Affiliates for the exclusive purpose of implementing, administering, and managing the Plan and Restricted Stock Units and the Participant&#146;s
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 10 - </P>


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participation in the Plan.&nbsp;In furtherance of such implementation, administration, and management, the Company and its Affiliates may hold certain personal information about a Participant,
including, but not limited to, the Participant&#146;s name, home address, telephone number, date of birth, social security or insurance number or other identification number, salary, nationality, job title(s), information regarding any securities of
the Company or any of its Affiliates, and details of all Restricted Stock Units (the&nbsp;&#147;<U>Data</U>&#148;).&nbsp;In addition to transferring the Data amongst themselves as necessary for the purpose of implementation, administration, and
management of the Plan and Restricted Stock Units and the Participant&#146;s participation in the Plan, the Company and its Affiliates may each transfer the Data to any third parties assisting the Company in the implementation, administration, and
management of the Plan and Restricted Stock Units and the Participant&#146;s participation in the Plan.&nbsp;Recipients of the Data may be located in the Participant&#146;s country or elsewhere, and the Participant&#146;s country and any given
recipient&#146;s country may have different data privacy laws and protections.&nbsp;By accepting Restricted Stock Units, each Participant authorizes such recipients to receive, possess, use, retain, and transfer the Data, in electronic or other
form, for the purposes of assisting the Company in the implementation, administration, and management of the Plan and Restricted Stock Units and the Participant&#146;s participation in the Plan.&nbsp;The Data related to a Participant will be held
only as long as is necessary to implement, administer, and manage the Plan and Restricted Stock Units and the Participant&#146;s participation in the Plan.&nbsp;A Participant may, at any time, view the Data held by the Company with respect to such
Participant, request additional information about the storage and processing of the Data with respect to such Participant, recommend any necessary corrections to the Data with respect to the Participant, or refuse or withdraw the consents herein in
writing, in any case without cost, by contacting his or her local human resources representative.&nbsp;The Company may cancel the Participant&#146;s eligibility to participate in the Plan, and in the Committee&#146;s discretion, the Participant may
forfeit any outstanding Restricted Stock Units if the Participant refuses or withdraws the consents described herein.&nbsp;For more information on the consequences of refusal to consent or withdrawal of consent, Participants may contact their local
human resources representative. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>Participants Outside of the United States</U>.&nbsp;The Committee may modify the terms of any
Restricted Stock Unit under the Plan made to or held by a Participant who is then a resident, or is primarily employed or providing services, outside of the United States in any manner deemed by the Committee to be necessary or appropriate in order
that such Restricted Stock Unit shall conform to laws, regulations, and customs of the country in which the Participant is then a resident or primarily employed or providing services, or so that the value and other benefits of the Restricted Stock
Unit to the Participant, as affected by non-U.S. tax laws and other restrictions applicable as a result of the Participant&#146;s residence, employment, or providing services abroad, shall be comparable to the value of such Restricted Stock Unit to
a Participant who is a resident, or is primarily employed or providing services, in the United States.&nbsp;A Restricted Stock Unit may be modified under this Section&nbsp;10(a) in a manner that is inconsistent with the express terms of the Plan, so
long as such modifications will not contravene any applicable law or regulation or result in actual liability under Section&nbsp;16(b) of the Exchange Act for the Participant whose Restricted Stock Unit is modified.&nbsp;Additionally, the Committee
may adopt such procedures and sub-plans as are necessary or appropriate to permit participation in the Plan by Eligible Persons who are non-U.S. nationals or are primarily employed or providing services outside the United States. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 11 - </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) <U>Change in Time Commitment</U>.&nbsp;In the event a Participant&#146;s regular level of
time commitment in the performance of his or her services for the Company or any of its Affiliates is reduced (for example, and without limitation, if the Participant is an employee of the Company and the employee has a change in status from a
full-time employee to a part-time employee) after the date of grant of any Restricted Stock Units to the Participant, the Committee has the right in its sole discretion to (i)&nbsp;make a corresponding reduction in the number of shares of Stock
subject to any portion of such Restricted Stock Units that is scheduled to vest or become payable after the date of such change in time commitment, and (ii)&nbsp;in lieu of or in combination with such a reduction, extend the vesting or payment
schedule applicable to such Restricted Stock Units.&nbsp;In the event of any such reduction, the Participant will have no right with respect to any portion of the Restricted Stock Units that is so reduced or extended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) <U>No Liability of Committee Members</U>.&nbsp;Neither any member of the Committee nor any of the Committee&#146;s permitted delegates
shall be liable personally by reason of any contract or other instrument executed by such member or on his or her behalf in his or her capacity as a member of the Committee or for any mistake of judgment made in good faith, and the Company shall
indemnify and hold harmless each member of the Committee and each other employee, officer, or director of the Company to whom any duty or power relating to the administration or interpretation of the Plan may be allocated or delegated, against all
costs and expenses (including counsel fees) and liabilities (including sums paid in settlement of a claim) arising out of any act or omission to act in connection with the Plan unless arising out of such Person&#146;s own fraud or willful
misconduct; <I>provided, however</I>, that approval of the Board shall be required for the payment of any amount in settlement of a claim against any such Person.&nbsp;The foregoing right of indemnification shall not be exclusive of any other rights
of indemnification to which such Persons may be entitled under the Company&#146;s certificate or articles of incorporation or bye-laws, each as may be amended from time to time, as a matter of law, or otherwise, or any power that the Company may
have to indemnify them or hold them harmless. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) <U>Payments Following Accidents or Illness</U>. If the Committee shall find that any
Person to whom any amount is payable under the Plan is unable to care for his or her affairs because of illness or accident, or is a minor, or has died, then any payment due to such Person or his or her estate (unless a prior claim therefor has been
made by a duly appointed legal representative) may, if the Committee so directs the Company, be paid to his or her spouse, child, relative, an institution maintaining or having custody of such Person, or any other Person deemed by the Committee to
be a proper recipient on behalf of such Person otherwise entitled to payment.&nbsp;Any such payment shall be a complete discharge of the liability of the Committee and the Company therefor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) <U>Governing Law</U>.&nbsp;The Plan shall be governed by and construed in accordance with the internal laws of Bermuda without reference
to the principles of conflicts of laws thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) <U>Electronic Delivery</U>.&nbsp;Any reference herein to a &#147;written&#148;
agreement or document or &#147;writing&#148; will include any agreement or document delivered electronically or posted on the Company&#146;s intranet (or other shared electronic medium controlled or authorized by the Company to which the Participant
has access) to the extent permitted by applicable law. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 12 - </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) <U>Funding</U>.&nbsp;No provision of the Plan shall require the Company, for the purpose of
satisfying any obligations under the Plan, to purchase assets or place any assets in a trust or other entity to which contributions are made or otherwise to segregate any assets, nor shall the Company be required to maintain separate bank accounts,
books, records, or other evidence of the existence of a segregated or separately maintained or administered fund for such purposes.&nbsp;Participants shall have no rights under the Plan other than as unsecured general creditors of the Company,
except that insofar as they may have become entitled to payment of additional compensation by performance of services, they shall have the same rights as other employees and service providers under general law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(m) <U>Reliance on Reports</U>.&nbsp;Each member of the Committee and each member of the Board shall be fully justified in relying, acting, or
failing to act, and shall not be liable for having so relied, acted, or failed to act in good faith, upon any report made by the independent public accountant of the Company and its Affiliates and upon any other information furnished in connection
with the Plan by any Person or Persons other than such member. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(n) <U>Titles and Headings</U>.&nbsp;The titles and headings of the
sections in the Plan are for convenience of reference only, and in the event of any conflict, the text of the Plan, rather than such titles or headings, shall control. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;* </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 13 - </P>

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<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>d477611dex103.htm
<DESCRIPTION>EX-10.3
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.3 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RESTRICTED STOCK UNIT AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">RenaissanceRe Holdings Ltd. (the&nbsp;&#147;<U>Company</U>&#148;), pursuant to its 2016 Restricted Stock Unit Plan, as amended
(the&nbsp;&#147;<U>Plan</U>&#148;), hereby grants to the Participant the number of Restricted Stock Units set forth in the Notice of Grant of Award delivered herewith (the&nbsp;&#147;<U>Grant Notice</U>&#148;), which is incorporated herein and forms
a part hereof (collectively, this&nbsp;&#147;<U>Agreement</U>&#148;). The Restricted Stock Units are subject to all of the terms and conditions as set forth in this Agreement, as well as the terms and conditions of the Plan, all of which are
incorporated herein in their entirety. Capitalized terms not otherwise defined herein shall have the same meaning as set forth in the Plan. In the event of a conflict or inconsistency between the terms and provisions of the Plan and the provisions
of this Agreement, the Plan shall govern and control. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


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<TD WIDTH="71%"></TD></TR>


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<TD VALIGN="top"><B>Vesting Schedule:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Subject to the Participant&#146;s continued employment with the Company or any of its Affiliates through each applicable vesting date, the Restricted Stock Units granted hereby shall vest pursuant to the schedule set forth in the
Grant Notice.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Notwithstanding the immediately preceding sentence, if the Participant remains employed through the later of (1)&nbsp;the first date on which the sum of the Participant&#146;s age and years of service (in each case measured on a
daily basis) with the Company or any of its Affiliates, in the aggregate, equals sixty-five (65) and (2)&nbsp;the date on which the Participant has first completed five (5) years of service with the Company or any of its Affiliates, in the aggregate
(the later of such dates, the&nbsp;&#147;<U>Retirement Eligibility Date</U>&#148;), then on the Retirement Eligibility Date, subject to the Participant&#146;s continued compliance with any confidentiality, non-competition, non-interference, and
similar restrictive covenants to which the Participant is then or thereafter shall become subject, all Restricted Stock Units granted herein that have been held for at least one (1) year shall immediately fully vest.&nbsp;In the event of the
Participant&#146;s Termination by reason of the Participant&#146;s death or Disability (as defined below), all Restricted Stock Units granted herein that have not vested as of the date of such Termination shall become immediately fully vested. For
purposes of this Agreement, the term &#147;<U>Disability</U>&#148; means, in the absence of any Participant Agreement between the Participant and the Service Provider otherwise defining Disability, the permanent and total disability of the
Participant within the meaning of Section&nbsp;22(e)(3) of the Code.&nbsp;In the event there is a Participant Agreement between the Participant and the Service Recipient defining Disability, &#147;<U>Disability</U>&#148; shall have the meaning
provided in such agreement.</TD></TR></TABLE>

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<TD VALIGN="top"><B>Acceleration of Vesting:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Notwithstanding the foregoing, the vesting of the Restricted Stock Units granted hereby shall be accelerated upon (i)&nbsp;the Participant&#146;s involuntary Termination as a result of a Change in Control in connection with which
the Restricted Stock Units are assumed or substituted, as provided in Section&nbsp;5(b) of the Plan, or (ii)&nbsp;the consummation of a Change in Control in connection with which the Restricted Stock Units are not assumed or substituted.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Dividend Equivalents:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">If, during the time any Restricted Stock Unit granted hereunder remains outstanding, a cash dividend is declared and paid by the Company in respect of the Stock, then for each outstanding Restricted Stock Unit granted hereunder that
is then held by the Participant, the Participant shall be entitled to receive immediately upon the payment of such dividend by the Company a cash amount equal to the dividend so paid by the Company upon one share of Stock.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Additional Terms:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">The Company shall have the right to deduct from any payment to the Participant pursuant to this Agreement any federal, state or local income or other taxes required to be withheld in respect thereof in accordance with
Section&nbsp;4(c) of the Plan.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">This Agreement does not confer upon the Participant any right to continue as an employee.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">This Agreement shall be construed and interpreted in accordance with the laws of Bermuda, without regard to the principles of conflicts of law thereof.</TD></TR>
</TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;* </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[<I>Signature page to follow.</I>] </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 2 - </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>THE UNDERSIGNED PARTICIPANT ACKNOWLEDGES RECEIPT OF THIS AGREEMENT AND THE PLAN AND, AS AN EXPRESS CONDITION
TO THE GRANT OF RESTRICTED STOCK UNITS HEREUNDER, AGREES TO BE BOUND BY THE TERMS OF THIS AGREEMENT AND THE PLAN. </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">RENAISSANCERE HOLDINGS LTD.</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3">PARTICIPANT</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3" ALIGN="center">Signature</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3" ALIGN="center">Signature</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
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<TD HEIGHT="8"></TD>
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<TD HEIGHT="8" COLSPAN="2"></TD>
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<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[<I>Signature Page to Restricted Stock Unit Agreement</I>] </P>
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