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Everest Group (EG) has issued an update.
Everest Group, Ltd. has appointed Mike Karmilowicz as Chairman of Everest Global Insurance to further the company’s international insurance strategy and spearhead key initiatives. Karmilowicz’s revised employment agreement includes a substantial incentive bonus increase to 140% of his $800,000 base salary and a higher target for equity compensation. Additionally, his agreement contains clauses for a “Good Reason” resignation, an eight-month non-compete, and a sixteen-month non-solicitation period. The details of this agreement will be disclosed in the company’s upcoming quarterly report.
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