Argo Group International Holdings, Ltd. announced In connection with the completion of the Merger and effective as of immediately following the Effective Time, Thomas A. Bradley retired from his position as Chief Executive Officer of the Company, and ceased to be an officer and employee of the Company. As previously reported by the Company in its Annual Report on Form 10-K filed with the SEC on March 6, 2023, the Company entered into a letter agreement with Mr. Bradley, dated March 3, 2023, pursuant to which Mr. Bradley is entitled to receive a one-time cash bonus in the amount of $1,200,000 in recognition of his continued services with the Company through the consummation of the Merger. Mr. Bradley is not entitled to any severance benefits or other compensation following his retirement as an officer and employee of the Company.

Jessica Snyder has been appointed to serve as Chief Executive Officer of the Company effective as of November 16, 2023 (the ? Commencement Date?). Ms. Snyder, 52, previously served as the Company?s President, U.S. Insurance since August 2022.

She joined the Company from GuideOne Insurance where she served as its President and Chief Executive Officer from 2017 through 2022. Prior to GuideOne, Ms. Snyder served as Senior Vice President of commercial and specialty lines at State Auto Insurance from 2015 to 2017. She also served as Senior Vice President, Chief Operating Officer and Chief Financial Officer at Rockhill Insurance Group, a member of the State AutoGroup from 2005-2009.

She also was the Chief Financial Officer at Citizens Property Insurance from 1998 to 2005. Ms. Snyder also serves on the Board of Directors of Open Lending Corporation, a NASDAQ company, since August 2020, where she serves as Chair, Chair of the Audit Committee and a member of the Nominating and Corporate Governance Committee. Ms. Snyder received a Bachelor of Science in accounting from the University of Wisconsin and a Master of Business Administration degree in finance from the University of Florida.

Ms. Snyder does not have any family relationships with any of the Company?s directors or executive officers. In connection with Ms. Snyder?s new role, the Company has entered into an offer letter with Ms. Snyder, dated as of November 16, 2023 (the ? CEO Offer Letter?).

Under the CEO Offer Letter, Ms. Snyder is entitled to receive an annual base salary of $700,000 and a target annual bonus opportunity of 100% of her base salary. In addition, the CEO Offer Letter provides that, as soon as practicable after the Commencement Date, the Company will recommend to the Board of Directors of the Company (the ? Board?) that Ms. Snyder receive a one-time long-term incentive award with a target grant date value of $7,500,000 under a new long-term incentive compensation plan of the Company expected to be adopted by the Board following the Commencement Date.

Ms. Snyder will continue to be eligible for severance benefits under the ESP (as defined below) through December 31, 2024, and, subject to her relocation to New York, New York within six (6) months after the Commencement Date, will be eligible for relocation benefits under the applicable Company policies (subject to repayment if Ms. Snyder resigns from her employment with the Company for any reason within twenty-four (24) months after the Commencement Date).