Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 274

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 274
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 are also employees), consultants, and present and future directors, or those of Bermuda NewCo’s subsidiaries, in each case as

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selected by Bermuda NewCo’s Compensation Committee, are eligible to participate in the Bermuda NewCo equity plan. We estimate that approximately thirty-two employees, eleven consultants, two non-employee directors (this number is subject to change, including due to shareholder approval of the nominated non-employee directors) and all future employees, consultants and directors (the numbers of which are not presently determinable) will be eligible to participate in the Bermuda NewCo equity plan. In addition, regardless of the number of eligible participants under the plan, Bermuda NewCo expects to issue awards only to a select group of the broader set of eligible participants.

Administration — The Bermuda NewCo equity plan will be administered by Bermuda NewCo’s Compensation Committee, or any successor committee thereto, or another committee of the Bermuda NewCo board duly authorized, appointed or designated by the Bermuda NewCo board. The Bermuda NewCo Compensation Committee will have the discretion to select participants and determine the form, amount and timing of each award to such persons, the exercise price or base price associated with the award, the vesting schedule and expiration date of the award and all other terms and conditions of the award. To the extent permitted by law and any applicable stock exchange rules, the Bermuda NewCo Compensation Committee may delegate all or any of its responsibilities or powers under the Bermuda NewCo equity plan to any one of its members or to any other person or persons, except that the Bermuda NewCo Compensation Committee may not delegate its power and authority to a member of the Bermuda NewCo board, the Chief Executive Officer or other executive officer of Bermuda NewCo with regard to the selection for participation in the Bermuda NewCo equity plan of any person who is, as of the relevant time, subject to Section 16 of Exchange Act for decisions concerning the timing, pricing or amount of an award to such a person.

Key Terms of Awards — The following is a brief summary of the types of awards that may be granted under the Bermuda NewCo equity plan:

(i) Options, ISOs and SARs — Options are rights to purchase shares at an exercise price and during a period determined by Bermuda NewCo’s Compensation Committee (including non-qualified stock options and incentive stock options). Incentive stock options (“ISOs”) are awards granting the holder the right to buy Bermuda NewCo common shares at a discounted price. To the extent