exhibit 10. 1 deutsche bank ag, london branch winchester house 1 great winchester st, london ec2n 2db telephone : 44 20 7545 8000 c / o deutsche bank securities inc. 60 wall street new york, ny 10005 telephone : 212 # # # - # # # - # # # # internal reference : 206114 termination agreement june 18, 2010 endurance specialty holdings ltd. ( “ counterparty ” ) wellesley house, 90 pitts bay road pembroke hm 08, bermuda attn : michael j. mcguire, chief financial officer tel : ( 441 ) # # # - # # # - # # # # fax : ( 441 ) # # # - # # # - # # # # re : termination of share forward transaction reference is made to the share forward transaction ( the “ transaction ” ), as evidenced by the confirmation ( the “ confirmation ” ), dated september 10, 2007, by and between deutsche bank ag, london branch ( “ dealer ” ), deutsche bank securities inc., as agent, ( “ agent ” ) and counterparty. capitalized terms used herein but not otherwise defined shall have the meanings assigned to them in the confirmation. this communication ( the “ termination agreement ” ) confirms the parties ’ agreement on the date hereof to unwind and terminate the transaction ( the “ termination ” ) pursuant to section 3 of the confirmation and on the terms set forth in this termination agreement, notwithstanding any provisions in the confirmation to the contrary. deutsche bank ag, london branch is not registered as a broker or dealer under the u. s. securities exchange act of 1934, as amended. deutsche bank securities inc. has acted solely as agent in connection with the transaction and has no obligation, by way of issuance, endorsement, guarantee or otherwise with respect to the performance of either party under the transaction. as such, all delivery of funds, assets, notices, demands and communications of any kind relating to this transaction between deutsche bank ag, london branch, and counterparty shall be transmitted exclusively through deutsche bank securities inc. deutsche bank ag, london branch is not a member of the securities investor protection corporation ( sipc ). chairman of the supervisory board : clemens borsig management board : josef ackermann ( chairman ), hugo banziger, michael cohrs, jurgen fitschen, anshuman jain, stefan krause, hermann - josef lamberti, rainer neske deutsche bank ag is authorised under german banking