Company: AHL
Filing Date: 2025-05-08
Form Type: 424B4
Source: 0001628280-25-023859
Chunk: 279

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-05-08
Form: 424B4
Chunk 279
---
5 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 an option or share appreciation right may not exceed ten years; provided, however, that an incentive share option held by an employee who owns more than 10% of all of our classes of shares, or of certain of our affiliates, may not have a term in excess of five years, and the exercise price will not be less than the price required by the Code in order to constitute an incentive share option (at the date of the offering, 110% of fair market value). Subject to the provisions of the 2025 Incentive Plan, the Compensation Committee will determine the remaining terms of the options and share appreciation rights (e.g., vesting). Upon a participant’s termination of service, the participant may exercise his or her option or share appreciation right, to the extent vested (unless the Compensation Committee permits otherwise), as specified in the award agreement.

The 2025 Incentive Plan permits the Compensation Committee to, without the approval of shareholders, (i) reduce the exercise price of any previously granted share option or share appreciation right, (ii) cancel any previously granted share option or share appreciation right in exchange for another share option or share appreciation right with a lower exercise price, or (iii) cancel any previously granted share option or share appreciation right in exchange for cash or another award if the exercise price of such share