UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
Current Report
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Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(e) On September 19, 2019, AXIS Specialty U.S. Services, Inc., a subsidiary of AXIS Capital Holdings Limited (the “Company”) entered into Amendment No. 2 (the “Amendment”) to Peter W. Wilson’s employment agreement dated June 23, 2014, as amended (the “Agreement”) to: (i) extend Mr. Wilson’s employment term for three years to December 31, 2022; and (ii) provide that if the severance benefits payable to Mr. Wilson (together with any other amounts payable to him under other compensatory arrangements) would constitute an “excess parachute payment” under Section 280G of the Internal Revenue Code, such payments shall either be reduced so that it will not constitute an excess parachute payment, or paid in full, depending upon which payment would result in his receiving the greatest after tax payment. In the case of the latter, Mr. Wilson would be liable for any excise tax owed.
This description is qualified in its entirety by reference to the Amendment, a copy of which is included as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Item 9.01 | Financial Statements and Exhibits |
(d) | Exhibits |
Exhibit Number | Description of Document | |
10.1 | Amendment No. 2 to Employment Agreement dated June 23, 2014, as amended, by and between Peter W. Wilson and AXIS Specialty U.S. Services, Inc. |
EXHIBIT INDEX
Exhibit Number | Description of Document | |
10.1 | Amendment No. 2 to Employment Agreement dated June 23, 2014, as amended, by and between Peter W. Wilson and AXIS Specialty U.S. Services, Inc. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: September 24, 2019
AXIS CAPITAL HOLDINGS LIMITED | |||
By: | /s/ Conrad D. Brooks | ||
Conrad D. Brooks | |||
General Counsel |