Burford Capital Ltd Announces Amended and Restated Employment Agreement with President Aviva Will

Key Developments for Investors

• Amended & Restated Employment Agreement: On March 3, 2026, Burford Capital LLC, a wholly owned subsidiary of Burford Capital Limited, entered into a significant amended and restated employment agreement with its current President, Aviva Will.
• Transition to Vice Chair: Under the new agreement, effective for the employment term, Ms. Will will serve as Vice Chair of the Company, reporting directly to the Chief Executive Officer and focusing on external matters as set out in correspondence with the CEO.
• Compensation Highlights:
  • Base salary set at \$1,000,000 per annum, payable at least monthly.
  • One-time retention payment of \$1,762,984.88.
  • One-time grant of RSUs valued at \$300,000 and an additional 4,240 RSUs, subject to plan terms.
  • Grant of carry from the 2025 vintage at the same level as received in 2024.
• Termination Provisions:
  • If employment is terminated by the Company without “cause,” Ms. Will is entitled to the greater of her continued base salary for the remainder of the initial term or \$1,000,000, plus 12 months of continued group health coverage (subject to execution and non-revocation of a general release of claims).
  • Comprehensive general release and restrictive covenants, including confidentiality, non-disparagement, non-competition, and non-solicitation obligations—with non-competition and non-solicitation covenants extending for one year post-employment.
• Other Notable Provisions:
  • Reimbursement for reasonable business and entertainment expenses per company policy.
  • Indemnification and directors’ and officers’ liability insurance coverage for Ms. Will, both during and after her employment, matching coverage provided to other officers.
  • Obligations for Ms. Will to return company property upon termination and assist in litigation or investigations related to her employment period.
  • Agreement complies with Section 409A of the Internal Revenue Code to avoid adverse tax consequences.
• Supplemental Release: To be signed on or after the last day of employment, reiterating confidentiality and non-disparagement commitments, and including an additional seven-day revocation period.
• Process & Timing: Ms. Will is provided 21 days to review and sign the agreement, with a seven-day revocation period post-signing before the agreement becomes enforceable.

Potential Impact for Shareholders

• Leadership Transition: The move of Aviva Will from President to Vice Chair, with a continued focus on external matters and a direct report to the CEO, represents a strategic leadership adjustment. This may affect the Company’s external relationships and strategic direction.
• Significant Compensation Package: The substantial one-time payments and equity grants, as well as a guaranteed high base salary, represent a notable commitment of resources by the Company. Investors should consider the cost implications and alignment of incentives with shareholder interests.
• Severance and Restrictive Covenants: The robust severance arrangements and strong post-employment covenants may provide stability and protect corporate interests but also commit the Company to material financial obligations in the event of a leadership change.
• Price Sensitivity: Any changes regarding key executives, especially those involving high levels of compensation, leadership transitions, or restrictive covenants, can be price sensitive as they may influence investor perceptions of management stability, succession planning, and corporate governance.
• Legal and Regulatory Compliance: The agreement includes detailed compliance provisions (including Section 409A), which mitigate legal risks but may also signal the Company’s preparation for potential regulatory scrutiny or litigation.

Summary

The amended and restated employment agreement with Aviva Will is a significant development for Burford Capital Ltd, involving leadership transition, major compensation commitments, and extensive legal protections for both the executive and the Company. Shareholders should monitor how these changes impact the Company’s leadership effectiveness, cost structure, and strategic execution.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should perform their own research or consult a professional advisor before making investment decisions. The information presented is based on the company’s public SEC filings and may be subject to change or interpretation.

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