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AXS > SEC Filings for AXS > Form 8-K on 26-Jun-2014All Recent SEC Filings

Show all filings for AXIS CAPITAL HOLDINGS LTD



Change in Directors or Principal Officers

Item 5.02 Departure of Directors or Certain Officers; Compensatory Arrangements of Certain Officers.

On June 23, 2014, Jack Gressier, Chief Operating Officer of AXIS Capital Holdings Limited (the "Company"), provided notice to the Company of his voluntary resignation from his position effective June 30, 2015.

Also on June 23, 2014, in connection with Peter Wilson's recent appointment as Chief Executive Officer of AXIS Insurance, Mr. Wilson and AXIS Specialty U.S. Services, Inc., a subsidiary of the Company, entered into an Employment Agreement (the "Agreement"). Under the terms of the Agreement, Mr. Wilson's annual base salary will be no less than $800,000 and his incentive target under the Company's non-equity incentive plan will be 125% of his annual base salary. He will also be eligible to participate in the Company's 2013 Executive Long-Term Equity Compensation Program with an initial annual target share or unit award valued at $900,000. Mr. Wilson also will be entitled to participate in the employee benefit plans that the Company customarily makes available to its executive officers. The Agreement also includes severance arrangements in the event that Mr. Wilson's employment is terminated upon his death or disability, by the Company for cause or without cause or by Mr. Wilson with good reason. The foregoing description of the Agreement is a summary only.

A copy of the press release dated June 23, 2014 announcing Mr. Gressier's resignation is attached hereto as Exhibit 99.1. Item 9.01 Financial Statements and Exhibits

(d) Exhibits Exhibit No. Description
99.1 Press Release of AXIS Capital Holdings Limited dated June 23, 2014

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