GREENLIGHT CAPITAL RE, LTD. (NASDAQ:GLRE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 15, 2018, Greenlight Reinsurance, Ltd, (the "Company"), a wholly owned subsidiary of Greenlight Capital Re, Ltd (the "Registrant"), entered into an amendment to the employment agreement (the "Amended Agreement") with Brendan Barry, the Chief Underwriting Officer of the Company and the Registrant. The Amended Agreement is effective from January 1, 2018, and amends the previous employment agreement (the "Employment Agreement") dated August 15, 2006, between the Company and Mr. Barry.
to the Amended Agreement, Mr. Barry's base salary shall be US$500,000 per year and shall be periodically reviewed by the board of directors of the Company for increase. Mr. Barry shall be eligible for an annual discretionary bonus with a target of 65% of base salary.
Except as specifically amended by the Amended Agreement, the Employment Agreement shall remain in full force.
The foregoing summary of the Amended Agreement does not purport to be complete and is qualified in its entirety by reference to the Employment Agreement, a copy of the amendment is attached as Exhibit 10.1
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
GREENLIGHT CAPITAL RE, LTD. ExhibitEX-10.1 2 amendmenttoagreementbb.htm EXHIBIT 10.1 AMENDED AGREEMENT Exhibit AMENDMENT TO EMPLOYMENT AGREEMENTThis AMENDMENT TO THE EMPLOYMENT AGREEMENT (this “Amendment”),…To view the full exhibit click here
About GREENLIGHT CAPITAL RE, LTD. (NASDAQ:GLRE)
Greenlight Capital Re, Ltd. is a property and casualty reinsurance holding company. The Company operates through property and casualty reinsurance segment. Its underwriting operations are classified into two categories: frequency business, which is characterized as contracts containing a number of small losses emanating from multiple events, and severity business, which is characterized as contracts with the potential for losses emanating from one event or multiple events. The Company’s property line of insurance provides protection for aviation, commercial, energy, motor physical damage and personal. It offers casualty insurance products for general, marine, motor and professional liabilities. The Company’s specialty insurance products are offered for financial, health and worker’s compensation. Its subsidiaries include Greenlight Reinsurance, Ltd, (Greenlight Re), Greenlight Reinsurance Ireland, Ltd. (GRIL) and Verdant Holding Company, Ltd. (Verdant).
