Other Information
+Added: On July 13, 2021, our Compensation Committee of the Board of Directors (the “Compensation Committee”) approved a new form of executive employment agreement (the “Form Agreement”), to be entered into by our executive officers (excluding Mr.
+Added: We intend to enter into the Form Agreement with each of our executive officers prior to December 31, 2021.
+Added: The Form Agreement provides, among other things, the executive’s annual base salary and target bonus amount, each subject to review and adjustment by the Compensation Committee.
+Added: The Form Agreement also provides benefits in connection with a termination of the executive’s employment under specified circumstances.
+Added: Under the terms of the Form Agreement, if we terminate the executive’s employment other than for “cause” or the executive terminates his or her employment for “good reason”(each as defined in the Form Agreement), the executive will be entitled to receive, subject to his or her timely execution and non-revocation of a separation agreement and release of claims in a form reasonably satisfactory to us and his or her continued adherence to the non-solicitation provision of the Form Agreement, (i) severance payments in an amount equal to his or her then-current base salary for a period of 12 months payable in accordance with our regularly scheduled payroll;
+Added: and (ii) reimbursements for the executive’s and his or her eligible dependents’ COBRA premiums for up to 12 months (such payments under (i) and (ii), the “Severance Pay”).
+Added: In addition, if we terminate the executive without cause or the executive resigns for good reason within 12 months following a change in control (as defined in the Form Agreement), the executive is entitled to receive the Severance Pay and, in the event the executive’s outstanding equity is assumed or continued following the change in control, the acceleration of his or her then unvested equity awards.
+Added: The Form Agreement also includes a non-solicitation provision prohibiting the executive from soliciting for employment or as a consultant for 12 months following separation of employment any employee or consultant of the Company, including those engaged within the twelve months prior to executive’s termination.
Executive Employment Agreement, dated July 15, 2021, by and between the Company and Mac Armstrong (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on July 19, 2021).
+Added: Form of Executive Employment Agreement (Named Executive Officers)
Certification of principal executive officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
11 unchanged sentences
Palomar Holdings, Inc.
−Removed: August 5, 2021
+Added: November 4, 2021
/s/ Mac Armstrong
2 unchanged sentences
(Principal Executive Officer)
−Removed: August 5, 2021
+Added: November 4, 2021
Christopher Uchida
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.