Company: GLRE
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001385613-25-000055
Chunk: 65

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 65
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 payments and benefits have an estimated value of:

| Event                          |     | Pro-Rated Bonus$(2) |         |     | Total Cash Severance 
 $                    |           |     | Value of Accelerated Equity(4)$ |         |     | Total 
 $     |           |
| Termination without Cause(1)   |     |                     | 400,000 |     |                      | 1,650,000 |     |                                 | 700,000 |     |       | 2,050,000 |
| Termination for Good Reason(1) |     |                     | 400,000 |     |                      | 1,650,000 |     |                                 | 700,000 |     |       | 2,050,000 |
| Death                          |     |                     | 400,000 |     |                      |         — |     |                                 | 700,000 |     |       | 1,100,000 |
| Disability(3)                  |     |                     | 400,000 |     |                      |    15,385 |     |                                 | 700,000 |     |       | 1,115,385 |
| Change of Control              |     |                     |       — |     |                      |         — |     |                                 | 700,000 |     |       |   700,000 |

(1) The Total Cash Severance is 100% of base salary and target bonus, plus Cayman statutory severance for Termination without Cause, which is equal to one week’s salary, at the employee’s latest basic salary, for each completed twelve month period of employment. Additionally, it includes a $50,000 relocation allowance.

(2) The Pro-Rated Bonus upon a termination of employment without cause, for good reason, due to death or disability reflects the amount earned in respect of the applicable year.

(3) The Total Cash Severance for Disability is calculated as one week’s salary, at the employee’s latest basic salary, for each completed twelve month period of employment, which represents Cayman statutory severance.

(4) Per Mr. Richardson’s employment agreement, outstanding unvested time-based equity awards shall fully vest for these events. The Value of Accelerated Equity is calculated as the intrinsic value of exercisable applicable options subject to the accelerated vesting if the event(s) occurred on December 31, 2024 and using a share price of $14.00 (the closing share price on December