Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 495

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 495
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(c) multiplied by (II) the volume weighted average price of Parent Shares on the Nasdaq, as reported by Bloomberg , for the five (5) consecutive trading days ending on the third (3rd) trading day immediately preceding the Closing Date multiplied by (III) 20, rounded to the nearest penny, without interest.

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TABLE OF CONTENTS

(b)

the recitals of the Combination Agreement are hereby amended by inserting after the phrase “in which no gain or loss is recognized by the members of US NewCo” the following text: “(except in connection with any cash received in lieu of fractional shares, as described in Section 3.05(h) of this Agreement)”; and

(c)

the recitals of the Combination Agreement are hereby amended by inserting after the phrase “US NewCo or the members of US NewCo” the following text: “(except in connection with any cash received in lieu of fractional shares, as described in Section 3.05(h) of this Agreement)”.

5. Registration and Investor Rights Agreements . Each of the parties acknowledges and agrees that the definitions of “AmTrust Registration and Investor Rights Agreements” and “Ledbetter Registration and Investor Rights Agreement” in Section 1.01 of the Combination Agreement are hereby amended and restated in their entirety to read:

“ AmTrust Registration and Investor Rights Agreements ” means that certain Registration and Investor Rights Agreement, by and between Bermuda NewCo and AmTrust, in the form attached as Annex B-2 to the Registration Statement on Form S-4 filed by Bermuda NewCo on March 10, 2025.

“ Ledbetter Registration and Investor Rights Agreement ” means that certain Registration and Investor Rights Agreement, by and between Bermuda NewCo and Kestrel Intermediate Ledbetter Holdings LLC, in the form attached as Annex B-1 to the Registration Statement on Form S-4 filed by Bermuda NewCo on March 10, 2025.

6. No Other Waiver . Except as expressly waived and/or superseded by this Letter Agreement, the Combination Agreement remains and shall remain in full force and effect. This Letter Agreement shall not constitute an amendment or waiver of any provision of the Combination Agreement not expressly amended or waived herein and shall not be construed as an amendment, waiver or consent to any action that would require an amendment, waiver or consent, except as expressly set forth herein. Upon the execution and delivery hereof, the Combination Agreement shall thereupon be deemed to be supplemented as hereinabove