Document:

EX-4.1

 Exhibit 4.1 
 

 
 RIGHTS CERTIFICATE #: NUMBER OF RIGHTS 
THE TERMS AND CONDITIONS OF THE RIGHTS OFFERING ARE SET FORTH IN THE COMPANY’S PROSPECTUS SUPPLEMENT DATED MAY 21, 2015 TO A PROSPECTUS DATED SEPTEMBER 24, 2014 (COLLECTIVELY,
THE “PROSPECTUS”) AND ARE INCORPORATED HEREIN BY REFERENCE. COPIES OF THE PROSPECTUS ARE AVAILABLE UPON REQUEST FROM D.F. KING & CO., INC., THE INFORMATION AGENT. 
Imperial Holdings, Inc. 
Incorporated under the laws of the State of Florida 
NON-TRANSFERABLE SUBSCRIPTION RIGHTS CERTIFICATE 
Evidencing Non-Transferable Subscription
Rights to Purchase Shares of Common Stock of Imperial Holdings, Inc. 
Subscription Price: $5.75 per Share 
THE SUBSCRIPTION RIGHTS WILL EXPIRE IF NOT EXERCISED ON OR BEFORE 5:00 P.M., NEW YORK CITY TIME, ON JUNE 15, 2015, UNLESS EXTENDED BY THE COMPANY REGISTERED OWNER: 
THIS CERTIFIES THAT the registered owner whose name is inscribed hereon is the owner of the number of non-transferable subscription rights (“Rights”) set forth above.
Each whole Right entitles the holder thereof to subscribe for and purchase one share of Common Stock, with a par value of $0.01 per share, of Imperial Holdings, Inc., a Florida corporation, at a subscription price of $5.75 per share (the “Basic
Subscription Right”), pursuant to a rights offering (the “Rights Offering”), on the terms and subject to the conditions set forth in the Prospectus and the “Instructions as to Use of Imperial Holdings, Inc. Subscription Rights
Certificates” accompanying this Subscription Rights Certificate. If any shares of Common Stock available for purchase in the Rights Offering are not purchased by other holders of Rights pursuant to the exercise of their Basic Subscription Right
(the “Excess Shares”), any Rights holder that exercises its Basic Subscription Right in full may subscribe for a number of Excess Shares pursuant to the terms and conditions of the Rights Offering, subject to proration, as described in the
Prospectus (the “Over-Subscription Right”). The Rights represented by this Subscription Rights Certificate may be exercised by completing Form 1 and any other appropriate forms on the reverse side hereof and by retuning the full payment of
the subscription price for each share of Common Stock in accordance with the “Instructions as to Use of Imperial Holdings, Inc. Subscription Rights Certificates” that accompany this Subscription Rights Certificate. 
This Subscription Rights Certificate is not valid unless countersigned by the subscription agent and registered by the registrar. Witness the seal of Imperial Holdings, Inc. and
the signatures of its duly authorized officers. 
Dated: May 27th, 2015

Antony Mitchell 
Chief Executive Officer 
Michael Altschuler 
General Counsel and Secretary 
COUNTERSIGNED AND REGISTERED: 
AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC

(New York, N.Y.) TRANSFER AGENT AND REGISTRAR 
By: 
AUTHORIZED SIGNATURE 

 DELIVERY OPTIONS FOR SUBSCRIPTION RIGHTS CERTIFICATE 

Delivery other than in the manner or to the address listed below will not constitute valid delivery. 

If delivering by mail, hand or overnight courier: 

American Stock Transfer & Trust Company, LLC 

Operations Center 
 Attn:
Reorganization Department 
 6201 15th Avenue 

Brooklyn, New York 11219 
 PLEASE
PRINT ALL INFORMATION CLEARLY AND LEGIBLY. 

 

 FORM 1-EXERCISE OF SUBSCRIPTION RIGHTS 

To subscribe for shares pursuant to your Basic Subscription Right, please complete lines (a) and (c) and sign under Form 3 below. To subscribe for
shares pursuant to your Over-Subscription Right, please also complete line (b). To the extent you subscribe for more Shares than you are entitled under either the Basic Subscription Right or the Over-Subscription Right, you will be deemed to have
elected to purchase the maximum number of shares for which you are entitled to subscribe under the Basic Subscription Right or Over-Subscription Right, as applicable. 

(a) EXERCISE OF BASIC SUBSCRIPTION RIGHT: 
  

							
	I apply for	 	  
	 	shares x $5.75              =  $	 	  

		 	(no. of new shares)        (subscription price)	 	(amount enclosed)

 (b) EXERCISE OF OVER-SUBSCRIPTION RIGHT 

If you have exercised your Basic Subscription Right in full and wish to subscribe for additional shares of Common Stock for which you are otherwise entitled to
subscribe pursuant to your Over-Subscription Right: 
  

							
	I apply for	 	  
	 	shares x $5.75              =  $	 	  

		 	(no. of new shares)        (subscription price)	 	(amount enclosed)

  

					
	(c) Total Amount of Payment Enclosed  =  $	 	  
	 	             

 METHOD OF PAYMENT (CHECK ONE) 
  

	 ̈	Check or bank draft payable to “American Stock Transfer & Trust Company, LLC as Subscription Agent.” 

  

	 ̈	Wire transfer of immediately available funds directly to the account maintained by American Stock Transfer & Trust Company, LLC, as Subscription Agent, for purposes of accepting subscriptions in this Rights
Offering at JPMorgan Chase Bank, 55 Water Street, New York, New York 10005, ABA #021000021, Account # 530-354616 American Stock Transfer FBO Imperial Holdings, Inc., with reference to the rights holder’s name. 

(d) LIMIT OWNERSHIP BELOW 10% 
 If you wish to own less than 10%
of the outstanding common stock of Imperial Holdings, Inc. upon completion of this rights offering, please check this box:  ̈ In order for this election to be effective, you must also contact the
information agent, D.F. King & Co., Inc., at 877-478-5045, in order to make such arrangements. 
 Please inform us of the number of shares of common
stock that you currently own without counting any shares to be issued upon exercise of these rights. 

                 shares of common stock currently owned.

 FORM 2-DELIVERY TO DIFFERENT ADDRESS 

If you wish for the Common Stock underlying your subscription rights or a certificate representing unexercised subscription rights to be delivered to an address
different from that shown on the face of this Subscription Rights Certificate, please enter the alternate address below, sign under Form 3 and have your signature guaranteed under Form 4. 

 

	
	  

	
	  

	
	  

 FORM 3-SIGNATURE 
 TO
SUBSCRIBE: I acknowledge that I have received the Prospectus for this Rights Offering and I hereby irrevocably subscribe for the number of shares indicated above on the terms and conditions specified in the Prospectus. 

 

			
	Signature(s):	 	  

 IMPORTANT: The signature(s) must correspond with the name(s) as printed on the reverse of this Subscription Rights Certificate
in every particular, without alteration or enlargement, or any other change whatsoever. 
 FORM 4-SIGNATURE GUARANTEE 

This form must be completed if you have completed any portion of Form 2. 
  

			
	Signature Guaranteed:	  	  

		  	(Name of Bank or Firm)

  

			
	By:	 	  

		 	                               (Signature of
Officer)

 IMPORTANT: The signature(s) should be guaranteed by an eligible guarantor institution (bank, stock broker, savings &
loan association or credit union) with membership in an approved signature guarantee medallion program pursuant to Securities and Exchange Commission Rule 17Ad-15.Exhibit 10.1 052015

Exhibit 10.1

AmTrust Corporate Capital Limited
AmTrust Corporate Member Limited
AmTrust Corporate Member Two Limited
as Corporate Members

and

AmTrust International Insurance, Ltd.
as Account Party

and

AmTrust Financial Services, Inc.
as Guarantor

and

The Banks and Financial Institutions
Listed in Schedule 1 of the Amended Facility Agreement
as Original Banks

and

ING BANK N.V., LONDON BRANCH
as Agent

and

ING BANK N.V., LONDON BRANCH
as Issuing Bank

and

ING BANK N.V., LONDON BRANCH
as Security Trustee

Amendment Agreement 
relating to a Credit Facility Agreement

Execution Version

Contents
1    Definitions and construction    1
2    Amendments to the Amended Facility Agreement    2
3    Representations and warranties    2
4    Continuity and further assurance    2
5    Amendments    3
6    Transfers    3
7    Incorporation of terms    3
8    Finance Document    3
9    Governing law    3

    

	
		
	 
	i

This Agreement dated     20 May 2015 is made
Between:
		
	(1)
	AmTrust Corporate Capital Limited, a company incorporated in England under registered number 08128684 whose registered office is at 2 Minster Court, Mincing Lane, London EC3R 7BB (ACCL);

		
	(2)
	AmTrust Corporate Member Limited,  a company incorporated in England under registered number 03621278 whose registered office is at 1 Great Tower Street, London EC3R 5AA (ACML);

		
	(3)
	AmTrust Corporate Member Two Limited, a company incorporated in England under registered number 05264527 whose registered office is at 1 Great Tower Street, London EC3R 5AA (ACM2L);

		
	(4)
	AmTrust International Insurance, Ltd., a company incorporated in Bermuda under registered number 9551 whose registered office is at 7 Reid Street, Suite 400, Hamilton HM11, Bermuda (the Account Party);

		
	(5)
	AmTrust Financial Services, Inc., a corporation organised under the laws of Delaware whose registered office is at 2711 Centerville Road, Suite 400, Wilmington, Delaware 19808 (the Guarantor);

		
	(6)
	The Banks and Financial Institutions Listed In Schedule 1 of the Amended Facility Agreement (the Original Banks);

		
	(7)
	ING Bank N.V., London Branch (the Agent);

		
	(8)
	ING Bank N.V., London Branch (the Issuing Bank); and

		
	(9)
	ING Bank N.V., London Branch (the Security Trustee).

Recitals
		
	(A)
	Under the Amended Facility Agreement, the Banks (as defined therein) have made available to the Account Party, subject as provided therein, a letter of credit facility of up to £235,000,000 (or equivalent in other eligible currencies):

		
	(i)
	to provide Funds at Lloyd's on behalf of ACCL to support its underwriting at Lloyd's as a member of Syndicate 2526 as constituted for the 2015 and all prior open years of account; 

		
	(ii)
	to provide Funds at Lloyd's on behalf of ACML to support its underwriting at Lloyd's as a member of Syndicate 1206 as constituted for the 2015 and all prior open years of account; and

		
	(iii)
	to provide Funds at Lloyd's on behalf of ACM2L to support its underwriting at Lloyd's as a member of Syndicate 44 as constituted for the 2015 and all prior open years of account.

		
	(B)
	The parties hereto have agreed to amend the Amended Facility Agreement on the terms of this Agreement.

It is agreed as follows:
1    Definitions and construction
1.1    Definitions
Words and expressions defined in the Amended Facility Agreement, as amended by this Agreement, shall have the same meanings in this Agreement. In addition in this Agreement, unless the context otherwise requires, the following definitions apply:
Amended Facility Agreement means the letter of credit facility agreement dated 26 November 2013 as amended and restated on 25 November 2014 between ACCL, the Account Party, the Guarantor, and ING Bank N.V., London Branch, and as acceded to by ACML and ACM2L.
1.2    Interpretation

	
		
	 
	1

The principles of construction set out in clause 1.2 (Interpretation) of the Amended Facility Agreement shall apply to this Agreement, insofar as they are relevant to it, as they apply to the Amended Facility Agreement.
1.3    Miscellaneous 
The provisions of clauses 1.3 to 1.9 of the Amended Facility Agreement shall apply to this Agreement as if references therein to "this Agreement" were references to this Agreement.
2    Amendments to the Amended Facility Agreement
With effect on and from the date of this Agreement, the Amended Facility Agreement shall be amended as follows:
2.1    A new definition of "Amendment Agreement" shall be inserted as follows:
""Amendment Agreement" means the amendment agreement dated 20 May 2015 between the parties to this Agreement pursuant to which the terms of this Agreement were amended."
		
	2.2
	Part (d) of the definition of "Permitted Convertible Notes" shall be deleted in its entirety and replaced with the following:

"(d)    the aggregate principal amount of Indebtedness permitted to be issued or     incurred under this definition shall not exceed $280,000,000 at any time outstanding."
2.3    A new definition of "First Amendment Date" shall be inserted as follows:
""First Amendment Date" means the date of the Amendment Agreement"."
		
	2.4
	From the First Amendment Date, any reference in any Finance Document to the Amended Facility Agreement shall be read and construed for all purposes as a reference to the Amended Facility Agreement as amended by this Agreement.

3    Representations and warranties
		
	3.1
	Subject to Clause 3.2, each Obligor represents and warrants that each of the representations and warranties set out in clauses 12.2 to 12.33 of the Amended Facility Agreement, construed as if references therein to "this Agreement" were references to this Agreement, is true and correct in all material respects (or, to the extent any such representation or warranty is qualified as to "material", "Material Adverse Change" or similar wording, in all respects) as at the date of this Agreement.

		
	3.2
	Each Obligor gives each representation and warranty under Clause 3.1 in respect of itself only, and only to the extent that the terms of the relevant clause make the relevant clause applicable in respect of it.

4    Continuity and further assurance 
4.1    Continuing obligations
The rights and obligations of the parties under the Amended Facility Agreement and the other Finance Documents shall continue in full force and effect, uninterrupted by the amendment hereunder, save insofar as they are amended hereby.  Each Obligor that has granted Security pursuant to the Security Documents confirms that the Security created by the relevant Security Documents shall continue fully to secure the obligations of the relevant Obligors under the Amended Facility Agreement notwithstanding the extension of its purpose and the amendment of its provisions.

4.2    Actions already taken

	
		
	 
	2

Any action already taken and any payment already made by a party under the Amended Facility Agreement prior to the date of this Agreement shall be treated as having been taken or made notwithstanding the amendment hereby, and shall not be required to be taken or made again by reason of the amendment hereby.
4.3    Further assurance
Each of the parties shall do all acts and things necessary to give effect to the amendments effected or to be effected pursuant hereto.
5    Amendments
The parties may agree to further amendments to the Amended Facility Agreement in accordance with the terms thereof without being required to amend or terminate this Agreement.
6    Transfers
Any transfer or assignment made in accordance with the terms of the Amended Facility Agreement shall have the same effect in relation to the rights and obligations of the parties under this Agreement as it has in relation to their rights and obligations under the Amended Facility Agreement. 
7    Incorporation of terms
The provisions of clauses 17.5 (Indemnity against costs), 31 (Miscellaneous), 34 (Notices) and 35.2 to 35.7 (Applicable Law and Jurisdiction) of the Amended Facility Agreement shall be incorporated into this Agreement as if set out herein and as if references therein to "this Agreement" were references to this Agreement.
8    Finance Document
This Agreement is designated by the Agent and the Account Party as a Finance Document.
9    Governing law
This Agreement and any contractual obligations arising out of or in connection with it shall be governed by and construed in accordance with English law. 
AS WITNESS the hands of the duly authorised representatives of the parties hereto the day and year first before written.

	
		
	 
	3

Execution pages
ACCL
	
			
	Signed for and on behalf of
AmTrust Corporate Capital Limited 
	)
)

	

sign here: /s/ Jeremy Cadle

	 
	 
	

print name: Jeremy Cadle

	 
	 
	 

	 
	 
	job title: Director

ACML
	
			
	Signed for and on behalf of
AmTrust Corporate Member Limited 
	)
)

	

sign here: /s/ Jeremy Cadle

	 
	 
	

print name: Jeremy Cadle

	 
	 
	 

	 
	 
	job title: Director

ACM2L
	
			
	Signed for and on behalf of
AmTrust Corporate Member Two Limited             
	)
)
)
	

sign here: /s/ Jeremy Cadle

	 
	 
	

print name: Jeremy Cadle

	 
	 
	 

	 
	 
	job title: Director

Account Party
	
			
	Signed for and on behalf of
AmTrust International Insurance, Ltd. 
	)
)

	

sign here: /s/ Stephen Ungar

	 
	 
	

print name: Stephen Ungar

	 
	 
	 

	 
	 
	job title: Secretary

Guarantor
	
			
	Signed for and on behalf of
AmTrust Financial Services, Inc. 
	)
)

	

sign here: /s/ Harry Schlachter

	 
	 
	

print name: Harry Schlachter

	 
	 
	 

	 
	 
	job title: Senior Vice President, Treasurer

	
		
	 
	4

Original Banks
	
			
	Signed for and on behalf of
ING Bank N.V., London Branch 
	)
)

	

sign here: /s/ Mariette Groen

	 
	 
	

print name: Mariette Groen

	 
	 
	 

	 
	 
	job title: Director

	 
	 
	 

	 
	 
	 

	 
	 
	

sign here: /s/ Mike Sharman

	 
	 
	

print name: Mike Sharman

	 
	 
	 

	 
	 
	job title: Managing Director

Agent
	
			
	Signed for and on behalf of
ING Bank N.V., London Branch 
	)
)

	

sign here: /s/ Mariette Groen

	 
	 
	

print name: Mariette Groen

	 
	 
	 

	 
	 
	job title: Director

	 
	 
	 

	 
	 
	 

	 
	 
	

sign here: /s/ Mike Sharman

	 
	 
	

print name: Mike Sharman

	 
	 
	 

	 
	 
	job title: Managing Director

	
		
	 
	5

Issuing Bank
	
			
	Signed for and on behalf of
ING Bank N.V., London Branch 
	)
)

	

sign here: /s/ Mariette Groen

	 
	 
	

print name: Mariette Groen

	 
	 
	 

	 
	 
	job title: Director

	 
	 
	 

	 
	 
	sign here: /s/ Mike Sharman

	 
	 
	print name: Mike Sharman

	 
	 

	 
	 
	job title: Managing Director

Security Trustee
	
			
	Signed for and on behalf of
ING Bank N.V., London Branch 
	)
)

	

sign here: /s/ Mariette Groen

	 
	 
	

print name: Mariette Groen

	 
	 
	 

	 
	 
	job title: Director

	 
	 
	 

	 
	 
	sign here: /s/ Mike Sharman

	 
	 
	print name: Mike Sharman

	 
	 
	 

	 
	 
	job title: Managing Director

	
		
	 
	6

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