secwatch.observer — SEC 8-K summary
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Issuer:     AXIS CAPITAL HOLDINGS LTD (AXS)
CIK:        0001214816
Form:       8-K
Filed at:   2024-08-09T23:59:59+00:00
Accession:  0001214816-24-000095
Event type: other_material
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AXIS Capital adopts Executive Severance Plan for executive committee, CEO gets 1.5x multiple
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- Plan covers Executive Committee members and designated employees; replaces employment agreements over time.
- CEO severance: 1.5x base salary + target bonus (2x on change of control); other execs: 1x (1.5x on change of control).
- Equity awards continue vesting 12 months post-termination (full vesting on change of control); COBRA subsidy for 12 months.
- Participants must sign Confidentiality, Non-Interference, and Invention Assignment Agreement; no duplicate severance if existing agreement.
- Plan effective August 6, 2024; pro-rated bonus paid on change of control termination; 280G parachute payment cutback applies.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1214816/000121481624000095/0001214816-24-000095-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1214816/000121481624000095/axs-20240806.htm
  HTML page:      https://secwatch.observer/filing/0001214816-24-000095

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