Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 149

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 149
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 closing price per share on March 3, 2025. Officers Following the Transaction Mr. Haveron will serve as President and Chief Financial Officer of Bermuda NewCo, Mr. Metz will serve as the Chief Legal Officer of Bermuda NewCo, following closing of the mergers. See “— Bermuda NewCo’s Board of Directors and Executive Officers after the Transaction” on page 95. Employment Agreements with Patrick Haveron and Lawrence F. Metz Maiden entered into employment agreements with Messrs. Haveron and Metz on November 1, 2011. The employment agreements provide Messrs. Haveron and Metz with contractual payments in the event of certain qualifying terminations of their employment. Upon certain qualifying terminations, including a termination by Maiden not for “cause,” Messrs. Haveron and Metz are entitled to continuation of their base salary and employee benefits (as specified in their employment agreements) pursuant to normal payroll practices until the end of the current term under their employment agreements, May 1, 2028. For purposes of Messrs. Haveron’s and Metz’s employment agreements, “cause” includes the executive’s (a) material breach of the employment agreement, but only if such breach is not cured within thirty (30) days following written notice by Maiden to the executive of such breach, assuming such breach may be cured; (b) conviction for any act or course of conduct involving moral turpitude; or (c) engaging in any willful act or willful course of conduct constituting an abuse of office or authority which significantly adversely affects the business or reputation of Maiden. If the executive is discharged for cause, Maiden, without any limitations on any remedies it may have at law or equity, shall have no liability for salary or any other compensation and benefits to the executive after the date of such discharge. Based on their compensation as of March 3, 2025, each of Messrs. Haveron and Metz would receive contractual payments payable upon a termination of employment by Maiden without cause on March 3, 2025 equal to $2,850,000 and $2,550,000 and continuation of certain employee benefits equal to $133,717 and $105,627, respectively. Under their employment agreements, each of Messrs. Haveron and Metz will be subject to a one-year non-competition and two-year non-solicit following their employment termination. Other Employment Agreements Maiden does not have employment agreements with any other