X0202 4 2005-06-20 0 0001179755 ENDURANCE SPECIALTY HOLDINGS LTD ENH 0001330708 Angelina Michael E C/O ENDURANCE SPECIALTY HOLDINGS LTD. WELLESLEY HOUSE, 90 PITTS BAY ROAD PEMBROKE D0 HM08 BERMUDA 0 1 0 0 Chief Actuary Restricted Share Unit 0.00 2005-06-20 2005-06-20 4 A 0 13717 A 2010-06-20 Ordinary Shares 13717 13717 D The restricted share units are forfeitable upon termination of employment, subject to certain limitations, and are converted into ordinary shares or their cash equivalent in equal amounts on June 20, 2006, 2007, 2008, 2009 and 2010. The restricted share units were delivered in connection with Mr. Angelina joining the Company and pursuant to the terms of a restricted share unit agreement dated as of June 20, 2005, based on the closing price for the Company's ordinary shares on May 31, 2005 of $36.45 per share. /s/ Michael E. Angelina 2005-06-22