ITEM 5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS, ELECTION OF


                 DIRECTORS, APPOINTMENT OF PRINCIPAL OFFICERS

Today, the registrant announced the appointment of Mark Kociancic to the role of Executive Vice President, Chief Financial Officer of Everest Re Group, Ltd. effective October 12, 2020, replacing Craig Howie, Executive Vice President and Chief Financial Officer, who will remain with the Company through December 31, 2020 to ensure an orderly transition. The registrant also announced the appointment of James Williamson to the role of Executive Vice President, Chief Operating Officer of Everest Re Group, Ltd effective October 5, 2020. A copy of the news release is furnished herewith as Exhibit 99.1.

The registrant also entered into an Employment Agreement with Mr. Kociancic to become Chief Financial Officer of Everest Re Group, Ltd. effective October 12, 2020. A copy of the Employment Agreement is filed herewith as Exhibit 10.1and incorporated herein by reference. The material terms of the Employment Agreement are as follows:

Term:3 year term beginning October 12, 2020

Annual Salary:$875,000 per year

Cash Sign On Bonus:$500,000

Annual Incentive Bonus:Eligible to participate in an executive performance bonus program or plan established by the Board of Directors. The target value of the annual non-equity incentive will be 130% of base salary.

Executive Stock Based Incentive Plan:Eligible to participate in Executive Stock Based Incentive Plan with a target value of 170% of base salary.

Sign On Equity Grant:Entitled to a sign on equity grant with a target value of $5,000,000, subject to approval and award by the Compensation Committee of the Group Board of Directors.

The registrant also entered into an Employment Agreement with Mr. Williamson effective September 28, 2020. A copy of the Employment Agreement is filed herewith as Exhibit 10.2 and incorporated herein by reference. The material terms of the Employment Agreement are as follows:

Term: October 5, 2020 through and including October 1, 2023.

Annual Salary: $700,000 per year.

Annual Incentive Bonus: Eligible to participate in an executive performance bonus program or plan established by the Board of Directors. The target value of the annual non-equity incentive will be 130% of base salary.

Executive Stock Based Incentive Plan: Eligible to participate in Executive Stock Based Incentive Plan with a target value of 150% of base salary.

Sign On Equity Grant: Entitled to a sign on equity grant with a target value of $1,300,000, subject to approval and award by the Compensation Committee of the Group Board of Directors.




ITEM 9.01   FINANCIAL STATEMENTS AND EXHIBITS
(c)         Exhibits

            Exhibit No. Description

            99.1        News Release of the registrant,
                        dated September 30, 2020

            10.1        Employment Agreement with Mark Kociancic

            10.2        Employment Agreement with James Williamson

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses