Company: GLRE
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001385613-25-000055
Chunk: 39

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 39
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 be awarded. No further underwriting years remain open under the Prior Bonus Program.

#### Sign-On Bonuses
From time to time, the Compensation Committee may award sign-on bonuses in connection with the commencement of an NEO’s employment with us. Sign-on bonuses are used only when necessary to attract highly skilled officers to the Company. Generally they are used to incentivize candidates to leave their current employers or may be used to offset the loss of unvested compensation or future income that they may forfeit as a result of leaving their current employer or business.

In 2024, as an inducement to join the Company as CEO, we awarded Mr. Richardson stock options with a ten (10) year term to acquire 250,000 ordinary shares with a per share exercise price equal to the fair market value of an ordinary share on the date of grant, January 4, 2024, as determined under the 2023 Incentive Plan (the “Options”). The Options will vest as to 50,000 ordinary shares on each of the first five anniversaries of the date of grant subject to Mr. Richardson’s employment on the applicable vesting date. All unvested Options will automatically terminate without consideration on termination of Mr. Richardson’s employment upon death, due to disability or by Mr. Richardson without good reason (as defined in Mr. Richardson’s employment agreement). All unvested Options shall become fully vested upon (i) a termination without cause (as defined in Mr. Richardson’s employment agreement) or for good reason subject to Mr. Richardson’s signing a release of claims as required under his employment agreement or (ii) a change in control (as defined in the 2023 Incentive Plan) subject to Mr. Richardson’s employment at the time of the change in control. All vested Options will remain outstanding for the balance of their full term; provided, that all Options, whether or not vested, shall terminate in the event Mr. Richardson’s employment with the Company is terminated for cause.

#### Retention Bonuses
From time to time, the Compensation Committee, based upon a review of competitive conditions and/or the role and skill set of the individual, may approve retention arrangements for certain NEOs and other senior executives.

#### Stock Incentive Plan Awards
In 2023, we adopted the 2023 Omnibus Incentive Plan, or the 2023 Incentive Plan, to promote the interests of the Company and its shareholders by:

• attracting, retaining, motivating, and rewarding exceptional