Company: GLRE
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001385613-25-000055
Chunk: 58

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 58
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 based upon or related to the ordinary shares.

The Compensation Committee may also grant ordinary shares as a bonus and grant awards in lieu of obligations of the Company or its affiliates to pay cash or deliver property under the 2023 Incentive Plan or other plans or compensatory arrangements.

Adjustments

In the event of changes in the outstanding ordinary shares or in the capital structure of the Company by reason of stock dividends, extraordinary cash dividends, share splits, reverse share splits, recapitalizations, reorganizations, mergers, amalgamations, consolidations, combinations, exchanges, or other relevant changes in capitalization, in connection with any extraordinary dividend declared and paid in respect of ordinary shares, in the event of any change in applicable laws or circumstances or as otherwise set forth in the 2023 Incentive Plan, in each case, that results in or could result in, in either case, as determined by the Compensation Committee in its sole discretion, any substantial dilution or enlargement of the rights intended to be granted to, or available for, participants in the 2023 Incentive Plan, awards shall be equitably and proportionally adjusted or substituted, as determined by the Compensation Committee, in its sole discretion, as to the number, price, or kind of a share, other securities or other consideration subject to such awards.

Amendment/Termination

The Board or Compensation Committee may amend the 2023 Incentive Plan and awards granted thereunder at any time and from time to time, but no amendment to the 2023 Incentive Plan or any award (i) shall be effective without shareholder approval to the extent that such approval is required, or (ii) will materially impair a participant’s rights under any award without the participant’s written consent, except to bring the terms of the 2023 Incentive Plan or awards into compliance with applicable law. No action taken by the Board or the Compensation Committee that is expressly permitted under the 2023 Incentive Plan will constitute an amendment.

The Board or the Compensation Committee may also suspend or terminate the 2023 Incentive Plan at any time. Unless sooner terminated, the 2023 Incentive Plan shall terminate on July 24, 2033. No awards may be granted under the 2023 Incentive Plan while it is suspended or terminated; provided, however, that following any suspension or termination of the 2023 Incentive Plan, the 2023 Incentive Plan shall remain in effect for the purpose of governing all