Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 217

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 217
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 first merger consideration in accordance with the combination agreement and the right of the holders of Maiden restricted shares and Maiden options to receive the consideration payable in accordance with the combination agreement;

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if the second merger effective time occurs, the right of the holders of US NewCo limited liability company interest to receive the second merger consideration payable in accordance with the combination agreement and the right of the holders of US NewCo restricted limited liability company interests and US NewCo options to receive the consideration payable in accordance the combination agreement; and

•

for the provisions of the combination agreement relating to indemnification and exculpation from liability for the directors and officers of Kestrel, Maiden and their subsidiaries.

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TABLE OF CONTENTS

### RELATED AGREEMENTS

#### Registration and Investor Rights Agreements
It is anticipated that Bermuda NewCo will enter into the registration and investor rights agreements with KILH and AmTrust at the closing. The registration and investor rights agreements provide that, following the expiration of the lock-up period therein, KILH, AmTrust and their permitted transferees can require Bermuda NewCo to register under the Securities Act all or any portion of the Bermuda NewCo common shares issued to KILH and AmTrust in connection with the closing, subject to customary requirements and limitations. KILH, AmTrust and their permitted transferees also have piggyback registration rights, such that KILH, AmTrust and their permitted transferees may include their respective shares in certain future registrations of Bermuda NewCo’s equity securities. The demand registration rights and piggyback registration rights are each subject to market cut-back exceptions.

The registration rights agreement sets forth customary registration procedures, including an agreement by Bermuda NewCo to make its management reasonably available to participate in road show presentations in connection with any underwritten offerings. Bermuda NewCo also agreed to indemnify KILH, AmTrust and their permitted transferees with respect to liabilities resulting from untrue statements or omissions in any registration statement used in any such registration, other than untrue statements or omissions resulting from information furnished to Bermuda NewCo for use in a registration statement by KILH, AmTrust or any of their permitted transferees.

The combination agreement and the registration and investor rights agreements provide that the Bermuda NewCo board immediately following the effective time of the second merger will consist of seven directors. KILH has the right to nominate (i) two non-independent directors to the Bermuda NewCo board for so long as it and its affiliates own