2005 DIRECTOR COMP SCHEDULE
Published on March 31, 2005
EXHIBIT 10.20 RENAISSANCERE HOLDINGS LTD. BOARD COMPENSATION SUMMARY AS OF AND WITH EFFECT FROM MARCH 9, 2005 - ------------------------------------------------------------------------------------------------------------ 2005 ANNUAL 2005 MEETING FEE (PER 2005 RESTRICTED DIRECTOR NAME RETAINER ($)(1) MEETING)(2) STOCK GRANT ($)(3) - ------------------------------------------ ------------------- ----------------------- --------------------- Mr. Thomas A. Cooper 40,000 3,000 100,000 - ------------------------------------------ ------------------- ----------------------- --------------------- Mr. Edmund B. Greene 40,000 3,000 100,000 - ------------------------------------------ ------------------- ----------------------- --------------------- Mr. Brian R. Hall 40,000 3,000 100,000 - ------------------------------------------ ------------------- ----------------------- --------------------- Mr. William F. Hecht 40,000 3,000 100,000 - ------------------------------------------ ------------------- ----------------------- --------------------- Mr. W. James MacGinnitie 40,000 3,000 100,000 - ------------------------------------------ ------------------- ----------------------- --------------------- Mr. Scott E. Pardee 40,000 3,000 100,000 - ------------------------------------------ ------------------- ----------------------- --------------------- Mr. Nicholas L. Trivisonno 40,000 3,000 100,000 - ------------------------------------------------------------------------------------------------------------ Expenses: Reimbursement of all expenses incurred in connection with service on the Board, including expenses relating to attending training relating to Board duties, industry education, and related matters. Educational expenses of less than $2,500 may be incurred without prior approval; larger expenses should be approved before being incurred. Use of Corporate Plane: Personal use of the corporate plane is generally not permitted. Space permitting, directors may bring spouses along on business trips, principally trips to Bermuda. Since there is no marginal cost to the Company, no fee is charged, although the IRS rules require an income imputation for such use. NOTES (1) Cash payment made at first Board meeting of the year. (2) Cash fee for each Board meeting attended; no committee meeting fees. (3) In addition, a grant of shares of restricted stock with value of $100,000, vesting ratably over a three year period, and no Options. Value of restricted stock will be closing stock price, computed pursuant to the Company's usual methodology (i.e. with reference to closing market prices, without regard to discount for illiquidity/forfeiture risk).