X0303 4 2008-07-01 0 0001165880 MONTPELIER RE HOLDINGS LTD MRH 0001356916 Harris Christopher L C/O: MONTPELIER RE HOLDINGS LTD. 94 PITTS BAY ROAD PEMBROKE D0 HM 08 BERMUDA 0 1 0 0 President and CEO Restricted Share Units 2008-07-01 2008-07-01 4 A 0 25000 14.75 A 160000 D Common Shares 15000 D The RSUs granted to Mr. Harris by the Board under our Long-Term Incentive Plan constitute phantom restricted shares which will vest ratably in five equal annual tranches based on continuous service and are payable in the Company's common shares at the end of the RSU term. /s/ Jonathan B. Kim, attorney in fact 2008-07-01