Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 258

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 258
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 least 25% of the shares of Bermuda NewCo issued to them at the closing, and (ii) two independent directors to the Board for so long as it and its affiliates own at least 5% of the shares of Bermuda NewCo and at least 25% of the shares of Bermuda NewCo issued to them at the closing.   
 AmTrust has the right to nominate (i) one non-independent director to the Board for so long as it and its affiliates own at least 25% of the shares of Bermuda NewCo issued to them at the closing, and (ii) two independent directors to the Board for so long as it and its affiliates own at least 5% of the shares of Bermuda NewCo and at least 25% of the shares of Bermuda NewCo issued to them at the closing. 
 The Bermuda NewCo bye-laws contain an identical provision with respect to the term that directors shall hold office.                                                                                                                                                                                                                                                                                                   | ​ |
| Vacancies on the Board of Directors and Removal of Directors | ​ | ​ | At any general meeting, the Maiden shareholders may authorize the Maiden board to fill any vacancy in                                                                                                                                                       | ​ | ​ | Subject to the Bermuda NewCo bye-laws and the registration and investor rights agreements, any                                                                                                                                                                                                                                                                                                                         | ​ |

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TABLE OF CONTENTS

| ​               | ​ | ​ | MAIDEN                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | ​ | ​ | BERMUDA NEWCO                                                                                                                                                                                                                                                                                                                                                                                                            | ​ |
| ​               | ​ | ​ | their number left unfilled at a general meeting.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
 The Maiden bye-laws provide that the office of director shall be vacated if the director is (i) is removed from office pursuant to the Maiden bye-laws or is prohibited from being a director by law; (ii) is or becomes bankrupt, or makes any arrangement or composition with his creditors generally; (iii) is or becomes of unsound mind or dies; or (iv) resigns his office by notice in writing to Maiden.                                                                                                                                                                                             
 Subject to any provision to the contrary in the Maiden bye-laws, the Maiden shareholders entitled to vote for the election of directors may, at any special general meeting convened and held in accordance with the Maiden bye-laws, remove a director, only with cause; provided that the notice of any such meeting convened for the purpose of removing a director shall contain a statement of the intention so to do and be served on such director not less than 14 days before the meeting and at