Company: AHL
Filing Date: 2025-04-29
Form Type: F-1/A
Source: 0001628280-25-020463
Chunk: 281

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-04-29
Form: F-1/A
Chunk 281
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5 Incentive Plan. In addition, to the extent

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shares subject to an award are withheld to satisfy a participant’s tax withholding obligation upon the exercise or settlement of such award (other than any substitute award, including any replacement awards granted in substitution for “share options” previously granted by Highlands Manco 2 Ltd.) or to pay the exercise price of a share option or share appreciation right, such shares will become available for future grant under the 2025 Incentive Plan. The aggregate value of cash compensation and the grant date fair value of ordinary shares that may be awarded or granted during any fiscal year of the Company to any non-employee director, for his or her services as a non-employee director, may not exceed $600,000; provided, however, that this limit will not apply to distributions of previously deferred compensation under a deferred compensation plan maintained by the Company or compensation received by the director in his or her capacity as an executive officer or employee of the Company.

Plan Administration . The Compensation Committee of the Board (the “Compensation Committee”) will administer the 2025 Incentive Plan. The Board has the authority to amend and modify the plan, subject to any shareholder approval required by law or stock exchange rules. Subject to the terms of the 2025 Incentive Plan, the Compensation Committee will have the authority to determine the eligibility for awards and the terms, conditions, and restrictions, including vesting terms, the number of shares subject to an award, and any performance goals applicable to grants made under the 2025 Incentive Plan. The Compensation Committee also will have the authority, subject to the terms of the 2025 Incentive Plan, to construe and interpret the 2025 Incentive Plan and awards, and amend outstanding awards at any time.

Share Options and Share Appreciation Rights. The Compensation Committee may grant incentive share options, nonqualified share options, and share appreciation rights under the 2025 Incentive Plan. The number of shares subject to an option or share appreciation right and the purchase price per share purchasable upon exercise of the option and the base price per share of share appreciation rights will be determined by the Compensation Committee, but must equal at least 100% of the fair market value of an ordinary share on the date of grant unless the participant is not subject to Section 409A of the Code or the option is otherwise designed to be compliant with Section 409A of the Code. The term of