Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 158

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 158
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better), eligibility to participate in the Bermuda NewCo long term incentive program and other benefits as generally provided by Bermuda NewCo to its executives. In the event of the Ledbetters death, his heirs or legal representatives will receive six months of base salary after the date of death. Under the Ledbetter Employment Agreements, the Ledbetters are subject to customary non-competition, non-solicitation and confidentiality covenants.

Ownership of Bermuda NewCo Following the Transaction

Immediately following the closing of the transaction, former Maiden shareholders are expected to own approximately 64.8% of the issued and outstanding Bermuda NewCo common shares, and former Kestrel equityholders are expected to own approximately 35.2% of the issued and outstanding Bermuda NewCo common shares, in each case excluding (i) the potential contingent consideration that may become payable to the former Kestrel equityholders and (ii) the 2,237,533 Bermuda NewCo common shares that will be held by Maiden Re.

#### Governmental and Regulatory Approvals
Each of the parties has agreed, subject to the terms and conditions of the combination agreement, to use its reasonable best efforts to take, or cause to be taken, all actions, and do, or cause to be done, and assist and cooperate with the other parties in doing, all things necessary, proper or advisable to cause the conditions to the closing to be satisfied as promptly as reasonably practicable and to consummate and make effective the transaction as promptly as reasonably practicable, including:

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using reasonable best efforts to take all such actions contemplated by the terms of the Statutory Merger Agreement;

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otherwise using reasonable best efforts to prepare and file promptly and fully all documentation to effect all necessary filings, notices, petitions, statements, registrations, submissions of information, applications and other documents; and

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using reasonable best efforts to execute and deliver any additional instruments necessary, proper or advisable to consummate the transaction.

Each of the parties has further agreed, subject to the terms and conditions of the combination agreement, to use its reasonable best efforts to:

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obtain all consents, waivers, approvals, licenses, franchises, permits, certificates, orders, non-objections or authorizations from any governmental authority or third party necessary, proper or advisable to consummate the transaction, including any such consents required under certain insurance laws (as specified in the combination agreement) and applicable antitrust laws;

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take any and all steps that are necessary, proper or advisable to avoid each and every impediment under any applicable