Everest Group said on Tuesday, March 25, 2024 that it had appointed Mike Karmilowicz as Chairman, Everest Global Insurance. The company said he will support the advancement of the global insurance strategy and lead key strategic initiatives.

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   Everest Group said on Tuesday, March 25, 2024 that it had appointed Mike Karmilowicz as Chairman, Everest Global Insurance. The company said he will support the advancement of the global insurance strategy and lead key strategic initiatives.

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   Everest Group said Mr. Karmilowicz's target annual incentive bonus was increased to 140% of base salary under his Amended and Restated Employment Agreement dated March 24, 2024, while his base salary remains unchanged at $800,000. The company said the agreement provides that he will receive his target bonus for 2024.

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   The company said Mr. Karmilowicz's target equity compensation value was increased to 160% of base salary. It also said that if he resigns before January 1, 2025, the resignation would be treated as being for "Good Reason" under the agreement.

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   The company said the agreement includes an eight-month non-competition covenant running from the date of resignation, and a sixteen-month non-solicitation, non-interference and non-disparagement covenant running from the date of termination of employment. The company plans to file the agreement as an exhibit to its Form 10-Q for the quarter ended March 31, 2024.

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Original filing

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