EMPLOYERS HOLDINGS, INC. (NYSE:EIG) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02.
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Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Directors of Employers Holdings, Inc. (the Company) reviews the
employment agreements with the Company’s executives to ensure that
they continue to comply with applicable law, and otherwise
accomplish their intended purposes.
Employment Agreements) with, among others, Tracey Berg, the
Companys Executive Vice President, Chief Information Officer,
Stephen V. Festa, the Companys Executive Vice President, Chief
Operating Officer; John P. Nelson, the Company’s Executive Vice
President, Chief Administrative Officer; and Lenard T. Ormsby, the
Company’s Executive Vice President, Chief Legal Officer and
General Counsel (each, an Executive and collectively, the
Executives). The Existing Employment Agreements, each effective as
of January 1, 2012, except for Mr. Festas, which was effective as
of August 25, 2013, and Ms. Bergs, which was effective as of
January 31, 2017, provide that the agreements respective terms
would automatically expire on December 31, 2017, unless the Company
gave written notice to the applicable Executive of its intent to
renew the agreement for an additional two-year term, no later than
six months prior to the expiration of the Existing Employment
Agreement’s current term for all agreements other than Ms. Bergs,
and three months prior to the expiration of the Existing Employment
Agreements current term for Ms. Berg.
Agreements were amended and restated, effective as of January 1,
2018. These Amended and Restated Employment Agreements are
substantially similar to the Existing Employment Agreements, except
that certain restrictive covenants were amended to comply with
recently enacted legislation and federal agency requirements
relating to employees whistleblower rights and related issues, and
with recent changes in Nevada law regarding the scope of the
noncompetition provisions. The Committee had earlier agreed to
notify the Executives that their respective agreements would be
amended and restated and, as so amended and restated, would be
extended for an additional two-year term (expiring on December 31,
2019).
attached as an exhibit hereto and incorporated by reference herein.
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Item 9.01.
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Financial Statements and Exhibits.
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10.1
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Amended and Restated Employment Agreement by and between
Employers Holdings, Inc. and Tracey Berg, dated June 26, 2017, and effective as of January 1, 2018. |
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10.2
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Amended and Restated Employment Agreement by and between
Employers Holdings, Inc. and Stephen V. Festa, dated June 26, 2017, and effective as of January 1, 2018. |
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10.3
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Amended and Restated Employment Agreement by and between
Employers Holdings, Inc. and John P. Nelson, dated June 26, 2017, and effective as of January 1, 2018. |
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10.4
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Amended and Restated Employment Agreement by and between
Employers Holdings, Inc. and Lenard T. Ormsby, dated June 26, 2017, and effective as of January 1, 2018. |
Employers Holdings, Inc. ExhibitEX-10.1 2 exhibit101.htm EXHIBIT 10.1 Exhibit Exhibit 10.1EMPLOYMENT AGREEMENTThis Employment Agreement (this “Agreement”) by and between Employers Holdings,…To view the full exhibit click here About EMPLOYERS HOLDINGS, INC. (NYSE:EIG)
Employers Holdings, Inc. is a holding company. Through its insurance subsidiaries, the Company provides workers’ compensation insurance coverage to select, small businesses in low to medium hazard industries. The Company provides workers’ compensation insurance under a statutory system wherein employers are required to provide coverage for their employees’ medical, disability, vocational rehabilitation, and/or death benefit costs for work-related injuries or illnesses. The Company provides workers’ compensation insurance in approximately 33 states and the District of Columbia, with a concentration in California. The Company invests in fixed maturity securities, equity securities and cash equivalents. The Company insurance subsidiaries include Employers Insurance Company of Nevada (EICN), Employers Compensation Insurance Company (ECIC), Employers Preferred Insurance Company (EPIC) and Employers Assurance Company (EAC).
