Company: AXS-PE
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0001214816-25-000088
Chunk: 72

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 72
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 Company medical plans for the 12-month period following termination; and (vi) if any payments made in connection with his termination following a “Change in Control” were to constitute an “excess parachute payment” under Section 280G of the Internal Revenue Code, such payments shall either be reduced so that no portion of any such payments would constitute an excess parachute payment, or shall be paid in full, depending upon which approach would result in him receiving the greatest amount of payments after taxes. In the case of the latter approach, he would be liable for any excise tax owed.

| 76 |     | AXIS 2025 Proxy Statement |

| Executive Compensation |

#### Mr. Phillips
Termination for Any Reason: In the event that Mr. Phillips’ employment is terminated for any reason, he is entitled to receive payment for any accrued but unpaid base salary up to the date of termination, any bonus awarded in respect of a prior year’s target annual bonus but not yet paid as of the date of termination, any accrued but unpaid reimbursable expenses and any unused vacation accrued to the date of termination.

Under his employment agreement, Mr. Phillips is required to execute a general release and waiver of claims against us and to resign from all directorships and offices in connection with the termination of his employment for any reason. Mr. Phillips is subject to a non-competition provision for a period of three months from the date of his voluntary termination and a non-solicitation provision for a period of six months after termination for any reason. Additionally, Mr. Phillips is subject to ongoing confidentiality requirements.

Termination by the Company for Cause: Under Mr. Phillips’ employment agreement, we may terminate Mr. Phillips’ employment for cause upon his:

i. material breach of the terms of his employment;

ii. conviction for a felony or commission of any act which would rise to the level of a felony;

iii. conviction or commission of a lesser crime or offense that adversely impacts our business or reputation;

iv. willful violation of our specific material directives;

v. commission of a dishonest or wrongful act involving fraud, misrepresentation, or moral turpitude causing us damage or potential damage;

vi. willful failure to perform a substantial part of his duties; or

vii. material breach of fiduciary duty.

Termination by the Company Without Cause: We may terminate Mr. Phillips’ employment without cause upon six months’ notice. In the event that Mr. Phillips’ employment is terminated by the Company without cause he will be entitled to: (