SEC Contract Filing

Filing Date: 2015-02-27

Document Content:
<DOCUMENT>
<TYPE>EX-10.32
<SEQUENCE>13
<FILENAME>exhibit103212312014.htm
<DESCRIPTION>EXHIBIT 10.32
<TEXT>
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 <title>Exhibit 10.32 (12/31/2014)</title>
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<a name="sF352DC289D85246E7B3EA31C785DCDD6"></a><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">EMPLOYMENT AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">THIS EMPLOYMENT AGREEMENT, dated as of March 27, 2012 (this &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), is entered into by and between Third Point Reinsurance Limited, a Bermuda corporation (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and Manoj Gupta (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Executive</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Company desires to enlist the services and employment of the Executive on behalf of the Company as Senior Vice President Underwriting, and the Executive is willing to render such services on the terms and conditions set forth herein.</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties hereto agree as follows:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;padding-top:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;padding-top:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:42px;">1.</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Employment Term</font><font style="font-family:inherit;font-size:12pt;">. Except for earlier termination as provided for in Section&#160;5 hereof, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to be employed by the Company, subject to the terms and provisions of this Agreement, for the period commencing on the Executive&#8217;s first active date of employment with the Company, as determined by the Company (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Effective Date</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and ending on the third anniversary of such date (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Employment Term</font><font style="font-family:inherit;font-size:12pt;">&#8221;); </font><font style="font-family:inherit;font-size:12pt;font-style:italic;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that on the third anniversary of the Effective Date, and on each anniversary of the Effective Date thereafter, the Employment Term shall be extended for an additional year, unless either the Executive or the Company shall have given notice at least 90&#160;days prior to such anniversary not to extend the Employment Term.</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Extent of Employment</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Duties</font><font style="font-family:inherit;font-size:12pt;">. During the Employment Term, the Executive shall serve as the Senior Vice President Underwriting of the Company. In his capacity as Senior Vice President Underwriting, the Executive shall perform such senior executive duties, services, and responsibilities on behalf of the Company consistent with such position as may be reasonably assigned to the Executive from time to time by the Chief Executive Officer of the Company. In performing such duties hereunder, the Executive shall report directly to the</font><font style="font-family:inherit;font-size:12pt;color:#ff0000;">&#32;</font><font style="font-family:inherit;font-size:12pt;">Chief Executive Officer.</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Exclusivity</font><font style="font-family:inherit;font-size:12pt;">. During the Employment Term, except as provided in the next following sentence, the Executive shall de