X0203 3 2009-09-29 0 0001163348 ALLIED WORLD ASSURANCE CO HOLDINGS LTD AWH 0001474077 Bell David ALLIED WORLD ASSURANCE CO. HOLDINGS, LTD 27 RICHMOND ROAD PEMBROKE D0 HM 08 BERMUDA 0 1 0 0 COO, AWAC Common Shares 17301 D Employee Stock Options (right to buy) 29.52 2004-12-31 2013-12-31 Common Shares 3333 D Employee Stock Options (right to buy) 32.70 2006-01-03 2015-01-03 Common Shares 3333 D Restricted Stock Units Common Shares 1250 D Includes 14,625 Restricted Stock Units which convert into Common Shares upon the vesting of such units on a one-for-one basis. These securities vested in four equal annual installments with the first installment vesting on the date shown. The Restricted Stock Units vest in four equal annual installments with the first installment vesting on February 26, 2010. Grant of Restricted Stock Units for no monetary consideration. 2,500 Restricted Stock Units convert into (i) 1,250 Common Shares of the Company and (ii) cash equal to the market value of 1,250 Common Shares (measured at the date of vesting) upon the vesting of such Restricted Stock Units. /s/ David A. Bell 2009-10-09