ASPEN INSURANCE HOLDINGS LIMITED (NYSE:AHL) 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
Mr. Stephen Postlewhite, previously the Chief Executive Officer of Aspen Insurance, ceased to perform duties for the Company effective January 26, 2018.
Under the terms of the Settlement Agreement between Mr. Postlewhite and Aspen U.K.Services, Mr. Postlewhite’s employment with the Company ended on April 30, 2018 (the “Termination Date”). Mr. Postlewhite’s salary and other contractual benefits were paid up to the Termination Date.
to the Settlement Agreement, and in accordance with the terms of the Service Agreement between Mr. Postlewhite and Aspen U.K. Services, dated September 4, 2014, as amended (the “Service Agreement”), Mr. Postlewhite will receive (i) £85,500 for his entitlement to an annual incentive award for the year in which the Termination Date occurred and (ii) £766,756 as a severance payment. All performance shares and restricted share units which were granted to Mr. Postlewhite under the Company’s 2013 Share Incentive Plan, as amended, which had not vested and been distributed to Mr. Postlewhite as at the Termination Date were forfeited on the Termination Date.
This summary is qualified in its entirety by the Settlement Agreement which is attached hereto as Exhibit 10.1.
Section 9 — Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits
(d) Unless otherwise specified above, the following exhibit (portions of which have been redacted and is the subject of a confidential treatment request) is filed as part of this report:
ASPEN INSURANCE HOLDINGS LTD ExhibitEX-10.1 2 exhibit101stevepostlewhite.htm EXHIBIT 10.1 Exhibit Exhibit 10.1THIS EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST. REDACTED MATERIAL IS MARKED WITH [***] AND HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. DATED 9 May 2018 ASPEN INSURANCE UK SERVICES LIMITED andSTEPHEN POSTLEWHITE________________________________________________SETTLEMENT AGREEMENT________________________________________________THIS SETTLEMENT AGREEMENT (this “Agreement”) is made as of 9 May,…To view the full exhibit click
About ASPEN INSURANCE HOLDINGS LIMITED (NYSE:AHL)
Aspen Insurance Holdings Limited (Aspen Holdings) is a holding company. The Company conducts insurance and reinsurance business through its subsidiaries: Aspen U.K. and AUL, Aspen Bermuda (Bermuda) and Aspen Specialty and AAIC (the United States). It operates in two segments: Aspen Insurance and Aspen Reinsurance (Aspen Re). Its insurance segment consists of property and casualty insurance; marine, aviation and energy insurance, and financial and professional lines insurance. Aspen Re consists of property catastrophe reinsurance, other property reinsurance, casualty reinsurance and specialty reinsurance. Its Aspen Re consists of property catastrophe reinsurance, other property reinsurance (risk excess, pro rata and facultative), casualty reinsurance (the United States treaty, international treaty and global facultative) and specialty reinsurance (credit and surety, agriculture, marine, aviation, terrorism, engineering).