Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 9

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 9
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 such Kestrel units by US NewCo;

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“Kestrel contribution effective time” means the effective time of the Kestrel contribution;

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“Kestrel earnout shares” means the additional contingent consideration payable in an aggregate number of Bermuda NewCo common shares equal to $45,000,000 divided by certain volume weighted

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average prices of such shares, contingent upon the achievement of certain EBITDA milestones by the Kestrel Business, subject to other terms and conditions as set forth in the combination agreement;

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“Kestrel equityholders” means all of the equityholders of Kestrel;

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“Kestrel LLCA” means the Amended and Restated Limited Liability Company Agreement, dated as of July 26, 2022, and without further amendment, by and among Kestrel and the Kestrel equityholders;

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“Kestrel merger consideration” means, collectively, the Kestrel earnout shares, Kestrel closing cash consideration and the right of the Kestrel equityholders to receive Bermuda NewCo common shares pursuant to the second merger in accordance with the terms of the combination agreement;

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“Kestrel units” means the Class A Units and Class B Units of Kestrel, in each case, with the rights and preferences set forth in the Kestrel LLCA;

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“KILH” means Kestrel Intermediate Ledbetter Holdings LLC, a Texas limited liability company;

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“Ledbetter registration and investor rights agreement” means that certain Registration and Investor Rights Agreement, by and between Bermuda NewCo and KILH;

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“Maiden” means Maiden Holdings, Ltd., a Bermuda exempted company limited by shares;

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“Maiden board” means the board of directors of Maiden;

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“Maiden bye-laws” means the Bye-Laws of Maiden, as amended up to and including five (5) business days prior to December 29, 2024;

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“Maiden shareholders” means holders of Maiden shares;

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“Maiden shares” means Maiden common shares, par value $0.01 per share;

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“Maiden special meeting” means the special general meeting of Maiden shareholders held pursuant to the terms of the combination agreement in order to receive the approval of Maiden shareholders of the (i) voting cutback proposal, (ii) first merger approval bye-law proposal, (iii) first merger resolution, (iv)