Company: GLRE
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001385613-25-000055
Chunk: 53

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 53
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 of the grant date, the aggregate grant date value of the awards for Messrs. Romer, O’Brien, Curnock and Sigmon, would have been $520,289, $509,081, $526,050 and $260,520 , respectively. In Mr. Richardson’s case it represents the value of options awarded as part of his employment contract.

(4) The amounts reflect the threshold, target and maximum number of share that are issuable with respect to restricted share units to each Messrs. Romer, O’Brien, Curnock and Sigmon. The performance shares vest, and the performance share units are settled in ordinary shares, in an amount from 0% to 200% of the units awarded based on fully diluted book value per share growth (65% weight) and combined ratio (35% weight) for the three year performance period commencing on January 1, 2024 and ending on December 31, 2026.

#### Employment Agreements
Employment agreements are entered into by the Company when it is determined that an employment agreement assists in obtaining assurance as to the executive’s continued employment in light of the prevailing market competition for the particular position, or where the Compensation Committee believes that an employment agreement is appropriate to attract an executive in light of market conditions and the prior experience of the executive.

Employment agreements with key executive officers further provide the Company protection against the potential loss of business that could result from the departure of a key executive by including restrictive covenants such as non-disclosure, non-compete and non-solicitation provisions in such agreements. The terms of the agreement take into consideration the executive’s prior background, experience, compensation, competitive conditions and negotiations with the executive.

The following paragraphs summarize the material terms of the employment agreements of our NEOs.

2025 PROXY STATEMENT 43

GREENLIGHT RE

Greg Richardson . We entered an employment agreement with Mr. Richardson effective January 1, 2024. The employment agreement does not have a fixed term. The agreement provides that Mr. Richardson serves as Chief Executive Officer and is entitled to receive an annual base salary of $800,000, subject to review periodically. Mr. Richardson is eligible for certain employee benefits and is eligible to earn an annual bonus with a target bonus opportunity of 100% of his base salary, based on certain performance metrics, as determined by the Board or Compensation Committee thereof, in accordance with and subject to the terms and conditions of the Company’s short-term incentive plan, as in effect