SiriusPoint Ltd. has announced the adoption of a new Executive Severance Plan, effective August 1, 2025. This plan, approved by the company's board of directors, outlines severance payments and benefits for eligible employees in the event of certain employment terminations. The plan benefits two groups: a specified group of executives, including company officers, and selected eligible employees. Executives terminated without cause or resigning for Good Reason will receive a lump sum payment equal to 52 weeks of base pay, along with additional incentives based on prior or current year's targets, and full vesting of cash bonuses. Other eligible participants will receive severance benefits based on their years of service, along with other incentives and premium payments for medical benefits.
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