Company: GLRE
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001385613-25-000055
Chunk: 63

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 63
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 or estate will become entitled to and the O’Brien Accrued Obligations and subject to executing a release of claims against us and GRIL, the Target Pro-Rated Bonus.

2025 PROXY STATEMENT 49

GREENLIGHT RE

Curnock Employment Agreement

Pursuant to Mr. Curnock’s employment agreement, in addition to any accrued but unpaid base salary and unused vacation time through the date of termination and any statutory severance, if any, subject to the execution of a release and certain other conditions, Mr. Curnock will be entitled to receive the Target Pro-Rated Bonus, which shall be payable within two and one half (2.5) months following the date of termination and cash severance in an amount equal to Mr. Curnock’s annual base salary plus target bonus opportunity, which shall be payable over 12 months. In the event that Mr. Curnock’s employment is terminated by the Company for cause, due to death or disability, or by Mr. Curnock without good reason, he shall only be entitled to his accrued benefits.

Sigmon Employment Agreement

In the event Mr. Sigmon’s employment is terminated by the Company without cause or by Mr. Sigmon for good reason, we will pay him accrued but unpaid base salary, any bonus earned under the terms of the compensation plan for years prior to the year in which the termination occurs, payable in accordance with the terms of such plan, and any accrued but unused vacation pay, or collectively the Sigmon Accrued Obligations, as soon as practicable following termination. In addition, subject to Mr. Sigmon’s execution of a release and certain other conditions, we will pay Mr. Sigmon the Actual Pro-Rated Bonus and cash severance in an amount equal to Mr. Sigmon’s annual base salary, payable in substantially equal monthly installments over the twelve month period following the date of termination and provide for immediate vesting of Mr. Sigmon’s initial sign-on restricted equity grant. If Mr. Sigmon’s employment terminates as a result of his death or due to disability, by the Company for cause or by Mr. Sigmon without good reason, he or his beneficiary, legal representatives or estate, as applicable, will become entitled to the Sigmon Accrued Obligations.

Stock Incentive Plan and Awards Granted Thereunder

Under the terms of the 2023 Incentive Plan, as well as the Prior Incentive Plan, unless an option award provides otherwise,