Document:

ex_177221.htm

Exhibit 4.13

 

DESCRIPTION OF SECURITIES

 

The following summary of the terms of the capital stock of Gevo, Inc. (“we,” “our” or “us”) is based upon our amended and restated certificate of incorporation and our amended and restated bylaws. The summary is not complete and is qualified by reference to our amended and restated certificate of incorporation and our amended and restated bylaws, each of which is filed as an exhibit to this Annual Report on Form 10-K and incorporated by reference herein. We encourage you to read our amended and restated certificate of incorporation, our amended and restated bylaws and the applicable provisions of the Delaware General Corporation Law (the “DGCL”) for additional information.

 

Authorized and Outstanding Capital Stock

 

Our authorized capital stock consists of 250,000,000 shares of common stock, par value $0.01 per share, and 10,000,000 shares of preferred stock, par value $0.01 per share, issuable in one or more series designated by our board of directors.

 

Common Stock

 

The holders of our common stock have one vote per share. Holders of common stock are not entitled to vote cumulatively for the election of directors. Generally, all matters to be voted on by stockholders must be approved by a majority, or, in the case of election of directors, by a plurality, of the votes cast at a meeting at which a quorum is present, voting together as a single class, subject to any voting rights granted to holders of any then outstanding preferred stock. Subject to preferences that may be applicable to any then outstanding preferred stock, holders of our common stock are entitled to participate equally in dividends when and as dividends may be declared by our board of directors out of funds legally available for the payment of dividends. In the event of our voluntary or involuntary liquidation, dissolution or winding up, the prior rights of our creditors and the liquidation preference of any preferred stock then outstanding must first be satisfied. The holders of common stock will be entitled to share in the remaining assets on a pro rata basis. No shares of common stock are subject to redemption or have redemptive rights to purchase additional shares of common stock.

 

Our common stock is listed on the Nasdaq Capital Market under the symbol “GEVO.”

 

Preferred Stock

 

Our amended and restated certificate of incorporation provides that we may issue shares of preferred stock from time to time in one or more series. Our board of directors is authorized to fix the voting rights, if any, designations, powers, preferences, qualifications, limitations and restrictions thereof, applicable to the shares of each series of preferred stock. Our board of directors may, without stockholder approval, issue preferred stock with voting and other rights that could adversely affect the voting power and other rights of the holders of our common stock, including the likelihood that such holders will receive dividend payments and payments upon liquidation, and could have anti-takeover effects, including preferred stock or rights to acquire preferred stock in connection with implementing a stockholder rights plan. The ability of our board of directors to issue preferred stock without stockholder approval could have the effect of delaying, deferring or preventing a change of control or the removal of our existing management. There are currently no shares of preferred stock outstanding.

 

Anti-Takeover Provisions

 

The DGCL, our amended and restated certificate of incorporation, and our amended and restated bylaws contain provisions that could discourage or make more difficult a change in control of us, including an acquisition of us by means of a tender offer, a proxy contest and removal of our incumbent officers and directors, without the support of our board of directors. A summary of these provisions follows.

 

Statutory Business Combination Provision

 

We are subject to Section 203 of the DGCL, which, subject to certain exceptions, prohibits a Delaware corporation from engaging in any “business combination” with an “interested stockholder” for a period of three years following the time that such stockholder became an interested stockholder, unless:

 

	 	
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			the board of directors of the corporation approves either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder, prior to the time the interested stockholder attained that status;

			

 

	 	
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			upon the closing of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding, for purposes of determining the number of shares outstanding, those shares owned by persons who are directors and also officers and by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or

			

 

	 	
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			at or subsequent to such time, the business combination is approved by the board of directors and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least 66-2/3% of the outstanding voting stock that is not owned by the interested stockholder.

			

 

With certain exceptions, an “interested stockholder” is a person or group who or which owns 15% or more of the corporation’s outstanding voting stock (including any rights to acquire stock pursuant to an option, warrant, agreement, arrangement or understanding, or upon the exercise of conversion or exchange rights, and stock with respect to which the person has voting rights only), or is an affiliate or associate of the corporation and was the owner of 15% or more of such voting stock at any time within the previous three years.

 

In general, Section 203 defines a business combination to include:

 

	 	
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			any merger or consolidation involving the corporation and the interested stockholder;

			

 

	 	
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			any sale, transfer, pledge or other disposition of 10% or more of the assets of the corporation involving the interested stockholder;

			

 

	 	
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			subject to certain exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder;

			

 

	 	
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			any transaction involving the corporation that has the effect of increasing the proportionate share of the stock of any class or series of the corporation beneficially owned by the interested stockholder; or

			

 

	 	
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			the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided by or through the corporation.

			

 

A Delaware corporation may “opt out” of this provision with an express provision in its original certificate of incorporation or an express provision in its amended and restated certificate of incorporation or bylaws resulting from a stockholders’ amendment approved by at least a majority of the outstanding voting shares. However, we have not “opted out” of this provision. Section 203 could prohibit or delay mergers or other takeover or change-in-control attempts and, accordingly, may discourage attempts to acquire us.

 

Election and Removal of Directors

 

Our amended and restated certificate of incorporation provides for our board of directors to be divided into three classes, with staggered three-year terms. Only one class of directors is elected at each annual meeting of our stockholders, with the other classes continuing for the remainder of their respective three-year terms. Because our stockholders do not have cumulative voting rights, our stockholders holding a majority of the shares of common stock outstanding are able to elect all of our directors. Directors may be removed only with cause by the affirmative vote of the holders of at least a majority of the outstanding shares entitled to vote on such removal.

 

No Stockholder Action by Written Consent

 

Our amended and restated certificate of incorporation and our amended and restated bylaws provide that any action required or permitted to be taken by the holders of common stock at an annual or special meeting of stockholders must be effected at a duly called meeting and may not be taken or effected by written consent of the stockholders.

 

Stockholder Meetings

 

Under our amended and restated certificate of incorporation and our amended and restated bylaws, only our board of directors, acting pursuant to a resolution adopted by a majority of the directors then in office, may call a special meeting of the stockholders, and any business conducted at any special meeting will be limited to the purpose or purposes specified in the notice for such special meeting.

 

Requirements for Advance Notification of Stockholder Nominations and Proposals

 

In order for our stockholders to bring nominations or business before an annual meeting properly, they must comply with certain notice requirements as provided by our amended and restated bylaws. Typically, in order for such notices to be timely, they must be provided to us not earlier than the close of business on the 120th day prior to the one-year anniversary of the preceding year’s annual meeting and not later than the close of business on the 90th day prior to the one-year anniversary of the preceding year’s annual meeting. For such notices to be timely in the event the annual meeting is advanced more than 30 days prior to or delayed by more than 70 days after the one-year anniversary of the preceding year’s annual meeting, notice must be provided to us not earlier than the close of business on the 120th day prior to such annual meeting and not later than the close of business on the later of the 90th day prior to such annual meeting or, if later, the 10th day following the day on which public announcement of the date of such meeting is first made.

 

Amendment of Charter Provisions

 

The affirmative vote of the holders of at least 66-2/3% of the voting power of all of the then-outstanding shares of our voting stock, voting together as a single class, is required to, among other things, alter, amend or repeal certain provisions of our amended and restated certificate of incorporation, including those related to the classification of our board of directors, the amendment of our bylaws and certificate of incorporation, restrictions against stockholder actions by written consent, the designated parties entitled to call a special meeting of the stockholders and the indemnification of officers and directors.

 

Our amended and restated bylaws may only be amended (or new bylaws adopted) by our board of directors or the affirmative vote of the holders of at least 66-2/3% of the voting power of all of the then-outstanding shares of our voting stock.

 

Transfer Agent and Registrar

 

The transfer agent and registrar for our common stock is American Stock Transfer & Trust Company. Its address is 6201 15th Avenue, Brooklyn, New York 11219 and its telephone number is (718) 921-8300.EX-4.2

 Exhibit 4.2 

ATHENE HOLDING LTD. 

WARRANT FOR THE PURCHASE OF CLASS A COMMON SHARES, 

PAR VALUE $0.001 PER SHARE, 

OF ATHENE HOLDING LTD. 

[DATE] 
 Warrant to Purchase 

[    ] Class A Common Shares 

 FOR VALUE RECEIVED, ATHENE HOLDING LTD., a Bermuda exempted company (the
“Company”), hereby certifies that [NAME OF WARRANTHOLDER], its successor or permitted assigns (the “Holder”), is entitled, subject to the provisions of this Warrant, to purchase from the Company,
[        ] fully paid and non-assessable Class A Common Shares (as defined below) of the Company at a purchase price per Class A Common Share equal to the
Exercise Price (as defined below). The number of Class A Common Shares to be received upon the exercise of this Warrant and the purchase price to be paid for a Class A Common Share are subject to adjustment from time to time as hereinafter
set forth. 
 1. Definitions. The following terms, as used herein, have the following meanings: 

“Affiliate” means, with respect to any Person, any other Person Controlling, Controlled by or under common Control with, such
Person including, without limitation, any general partner of such Person if such Person is a partnership and any managing member of such Person if such Person is a limited liability company. An “Affiliate” of the Company includes each of
the Company’s direct or indirect subsidiaries, whether or not in existence on the date hereof. 
 “Aggregate Exercise
Price” means, with respect to any exercise of this Warrant, the Exercise Price multiplied by the applicable number of Warrant Shares to be acquired upon exercise. 

“Bermuda Court” has the meaning set forth in Section 11 hereof. 

“Board” or “Board of Directors” means the Board of Directors of the Company. 

“Class A Common Shares” means Class A common shares of the Company, par value $0.001 per share. 

“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and
policies of a Person, whether through ownership of voting securities, by contract or otherwise, while “Controlled” and “Controlling” have correlative meanings. 

“Corporate Action” has the meaning set forth in Section 5(a) hereof. 

“Exercise Price” means $[__] per Warrant Share, as the same may be adjusted from time to time as provided in this Warrant.

 “Market Price Per Class A Common Share” means, at any date of determination, the closing price of a
Class A Common Share as reported by Bloomberg (or its equivalent, nationally recognized successor if Bloomberg ceases to provide such reports) as of the close of business on the day immediately preceding the date on which this Warrant is
exercised; provided, however, that if the Class A Common Shares are not publicly traded such time of determination, the Board shall reasonably determine the Market Price Per Class A Common Share in good faith as it deems
appropriate. 

  
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 “Person” means any natural person, partnership, limited partnership,
corporation, limited liability company or partnership, association, joint stock company, trust, joint venture, unincorporated organization, or the United States or any other nation, state or other political subdivision thereof, or any entity
exercising executive, legislative, judicial, regulatory or administrative functions of government. 
 “Transfer” means any
transfer, sale, exchange, assignment, lien or other disposition (irrespective of whether any of the foregoing are effected, with or without consideration, voluntarily or involuntarily, by operation of law or otherwise, or whether inter vivos
or upon death), including (i) the grant of an option to acquire either or both of the legal or beneficial ownership of a Warrant, (ii) any sale or other disposition of any legal or equitable interest in a Warrant (including any voting
right attaching to it), (iii) any direction (by way of renunciation or otherwise) by a Person entitled to an allotment or issue of a Warrant that it be allotted or issued to another Person, (iv) any grant of any lien over a Warrant and
(v) any agreement to effect any of the foregoing. 
 “Warrant Shares” means the Class A Common Shares deliverable
upon exercise of this Warrant, as the same may be adjusted from time to time as provided in this Warrant. 
 2. Exercise of Warrant.

 (a) The Holder is entitled to exercise this Warrant in whole or in part at any time, or from time to time, on the terms
provided herein. To exercise this Warrant, the Holder shall deliver to the Company (i) an executed Warrant Exercise Notice substantially in the form set forth in Annex A hereto, (ii) this Warrant, (iii) subject to
Section 2(d) hereof, the applicable Aggregate Exercise Price and (iv) a validly signed IRS Form W-9 (if Holder is a U.S. person for federal income tax purposes) or Form
W-8 (if Holder is not a U.S. person for federal income tax purposes); provided, however, that the Company may permit electronic exercise and delivery of this Warrant through its third-party stock
plan administrator and, in such case, the Holder shall follow the administrative procedures of the Company and its third-party stock plan administrator for such electronic exercise. Upon such delivery and payment, the Holder shall be deemed to be
the holder of record of the Warrant Shares subject to such exercise, notwithstanding that the stock transfer books of the Company shall then be closed. 

(b) The Aggregate Exercise Price shall be paid by wire transfer of immediately available funds to an account designated by the
Company to the Holder or in accordance with Section 2(d) herein. If applicable, the Company shall pay any and all documentary, stamp or similar issue or transfer taxes payable in respect of the issue or delivery of the Warrant Shares;
provided, however, that the Company shall not be required to pay any taxes that may be payable in respect of any Transfer involved in the issuance and delivery of the Warrant Shares in a name other than that of the Holder 

  
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 (c) Upon exercise of this Warrant in conformity with the foregoing
provisions, the Company shall transfer to the Holder of this Warrant appropriate evidence of ownership of the Class A Common Shares or other securities or property (including any money) to which the Holder is entitled, registered or otherwise
placed in, or payable to the order of, the name or names of the Holder or its transferee pursuant to Section 4 hereof as may be directed in writing by the Holder, and shall deliver such evidence of ownership and any other securities or property
(including any money) to the Person or Persons entitled to receive the same (or, alternatively, register the transfer in book-entry form). 

(d) In lieu of making a cash payment of the Aggregate Exercise Price to exercise this Warrant pursuant to Section 2(a) and
2(b) (but in all other respects in accordance with the exercise procedure set forth in Section 2(a)), the Holder may elect to convert this Warrant, in whole or in part at any time, or from time to time, into Class A Common Shares, in which
event the Company will issue to the Holder the number of Class A Common Shares equal to the amount resulting from the following equation: 
  

			
		
	X =	  	(A - B) x C where:
		  	        A
		
	X =	  	the number of Class A Common Shares issuable upon exercise pursuant to this Section 2(d);
		
	A =	  	the Market Price Per Class A Common Share on the date on which the Holder delivers a Warrant Exercise Notice to the Company pursuant to Section 2(a);
		
	B =	  	the Exercise Price; and
		
	C =	  	the number of Class A Common Shares as to which this Warrant is being exercised pursuant to Section 2(a).

 If the foregoing calculation results in zero or a negative number, then no Class A Common Shares
shall be issued upon exercise pursuant to this Section 2(d). If such calculation results in fractional Class A Common Shares issuable pursuant to this Section 2(d), then the number of Class A Common Shares issued under this
Section 2(d) shall be rounded up to the nearest whole number. 
 3. Reservation of Class A Common Shares. The
Company hereby agrees that at all times there shall be reserved for issuance and delivery upon exercise of this Warrant such number of its authorized but unissued Class A Common Shares or other securities of the Company from time to time
issuable upon exercise of this Warrant as will be sufficient to permit the exercise in full of this Warrant. All such Class A Common Shares shall be duly authorized and, when issued upon such exercise, shall be validly issued, fully paid and non-assessable, free and clear of all liens or restrictions on sale and free and clear of all preemptive rights, in each case except to the extent created by the Holder. 

  
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 4. Exchange, Transfer or Assignment of Warrant. 

(a) All covenants and agreements in this Warrant by or on behalf of any of the parties hereto shall bind and inure to the
benefit of their respective successors and permitted transferees. 
 (b) This Warrant and the rights of the Holder of this
Warrant with respect thereto shall be transferred to any Person who is the transferee of such Warrant; provided, that such Transfer is made in accordance with Section 4(c). All of the obligations of the Company hereunder shall survive any
Transfer of rights made in accordance with this Section 4. 
 (c) This Warrant shall not be assignable or otherwise
transferable by the Holder, except, subject to this Section 4, by designation of a beneficiary, by will or by the laws of descent and distribution, for estate planning purposes or to an Affiliate that is Controlled by such Holder. No Transfer
of this Warrant or the rights of the Holder with respect to this Warrant pursuant to this Section 4 shall be effective unless and until the transferee of this Warrant (i) surrenders such Warrant to the Company, together with the Warrant
Assignment Form duly executed, the form of which is set forth in Annex B and (ii) agrees in an addendum to this Warrant to be bound by and subject to the terms and conditions of this Warrant, which addendum shall be furnished to the
Company and shall specify (A) the name and address of such transferee and (B) the number and class of Warrants Transferred to such transferee. Upon surrender of this Warrant to the Company, the Company shall, as promptly as practicable and
without charge, execute and deliver a new Warrant (or register on in the records of the Company) in the name of the transferee named in such Warrant Assignment Form and, if the Holder’s entire interest is not being assigned, in the name of the
Holder, and this Warrant shall promptly be canceled. 
 5. Anti-dilution Provisions. 

(a) Class A Common Share Dividends, Subdivisions or Combinations. If the Company shall at any time
after the date hereof (A) declare and pay a dividend or make a distribution on Class A Common Shares, in each case, payable in Class A Common Shares, (B) subdivide or split the outstanding Class A Common Shares into a
greater number of shares (by any stock split, stock dividend, reclassification or otherwise) or (C) combine or reclassify the outstanding Class A Common Shares into a smaller number of shares (by any reverse stock split or otherwise)
(collectively, a “Corporate Action”), then in each such case: 
 (i) the number of Warrant Shares issuable
upon exercise of this Warrant thereafter shall be proportionately adjusted so that the exercise of this Warrant after such event shall entitle the Holder to receive the aggregate number of Class A Common Shares that such Holder would have been
entitled to receive had such Holder exercised this Warrant immediately prior to such event (or, if earlier, the record date for such event); and 

  
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 (ii) the Exercise Price thereafter shall be adjusted to equal the product of
the Exercise Price in effect immediately prior to such event multiplied by a fraction (A) the numerator of which shall be the number of Warrant Shares issuable upon the exercise of this Warrant immediately prior to such event (or, if
applicable, the record date for such event) and (B) the denominator of which shall be the number of Warrant Shares issuable upon the exercise of this Warrant immediately following such event (or, if applicable, the record date for such event).

 Any adjustment made pursuant to this Section 5(a) shall become effective immediately (x) after the record date applicable to
such Corporate Action or (y) if there is no applicable record date, after such Corporate Action. In the event that such Corporate Action is not taken following such record date, the adjustments pursuant to this Section 5(a) shall not have
any effect. 
 (b) Certain Distributions. If the Company shall fix a record date for the making of a dividend or other
distribution to holders of Class A Common Shares, including through the issuance of evidences of indebtedness, assets, cash, rights or warrants (other than pursuant to Section 5(a)), then in each such case the Exercise Price thereafter
shall be reduced by the amount of cash and/or the portion of the fair market value of the securities, evidences of indebtedness, assets, rights or warrants to be so distributed with respect to one Class A Common Share; provided, that the
Exercise Price shall not be reduced below the par value of the Class A Common Shares. 
 Any adjustment made pursuant to this
Section 5(b) shall become effective immediately after the applicable record date. In the event that such dividend or other distribution is not so made, the Exercise Price shall again be adjusted to be the Exercise Price that would be in effect
if such record date had not been so fixed. 
 (c) Consolidation, Merger or Sale of Assets. In the event of any
consolidation of the Company with, or merger of the Company into, any other Person, any merger of another Person into the Company (other than a merger which does not result in any reclassification, conversion, exchange or cancellation of outstanding
Class A Common Shares) or any sale or transfer of all or substantially all of the assets of the Company to the Person formed by such consolidation or resulting from such merger or to the Person that acquires such assets pursuant to any such
sale or transfer of all or substantially all of the assets of the Company, as the case may be, the Holder shall have the right thereafter to exercise this Warrant for the kind and amount of securities, cash and/or other property receivable upon such
consolidation, merger, sale or transfer by a holder of the number of Class A Common Shares for which this Warrant may have been exercised immediately prior to such consolidation, merger, sale or transfer. In determining the kind and amount of
securities, cash and/or other property receivable upon such consolidation, merger, sale or transfer, if the holders of Class A Common Shares have the right to elect as to the consideration to be received upon the consummation of such
consolidation, merger, sale or transfer, then the consideration that the Holder shall 

  
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be entitled to receive upon exercise shall be deemed to be the kind and amount of consideration received by the majority of all holders of Class A Common Shares that affirmatively make an
election (or of all such holders if none make an election). Adjustments for events subsequent to the effective date of such a consolidation, merger, sale or transfer of assets shall be as nearly equivalent as may be practicable to the adjustments
provided for in this Warrant. In any such event, effective provisions shall be made in the certificate, articles of incorporation and/or bye-laws (or other charter document(s)) of the resulting or surviving
corporation, in any contract of sale, merger, conveyance, lease, transfer or otherwise so that the provisions set forth herein for the protection of the rights of the Holder shall thereafter continue to be applicable; and the Company shall take such
action as is reasonably necessary to ensure that any such resulting or surviving corporation shall assume the obligation to deliver, upon exercise, such shares of stock, other securities, cash and property and otherwise be bound by the terms of this
Warrant as if it were the Company. 
 (d) Certain Determinations. For purposes of any computation of any adjustment
required under Sections (a) through (c) of this Section 5: 
 (i) adjustments shall be made successively whenever
any event giving rise to such an adjustment shall occur; 
 (ii) if any portion of any distribution or consideration to be
received in a transaction as described in Section 5(c) shall be in a form other than cash, the fair market value of such non-cash distribution or consideration shall be utilized in such computation. Such
fair market value shall be determined by the Board of Directors (or a committee thereof) in good faith. The Holder shall be notified promptly of any distribution or consideration other than cash and furnished with a description of the consideration
and the fair market value thereof, as determined in accordance with the foregoing provisions; 
 (iii) the number of
Class A Common Shares outstanding at any given time shall not include shares owned or held by or for the account of the Company; and 

(iv) no adjustment in the Exercise Price or the number of Warrant Shares issuable upon exercise of the Warrant, as the case may
be, shall be required if the amount of such adjustment would be less than one cent or one Class A Common Share (or other share, as applicable), as the case may be; provided, however, that any adjustments which by reason of this
Section 5(d)(iv) are not required to be made shall be carried forward and taken into account in any subsequent adjustment. 

  
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 (e) Evidence of Adjustments. Upon the occurrence of each adjustment
to the Exercise Price and/or the number of Warrant Shares issuable upon exercise of this Warrant, the Company shall promptly compute such adjustment in accordance with the terms hereof and furnish to the Holder evidence of such adjustment (which may
be electronically noted in the Holder’s account with the Company’s third-party stock plan administrator) and showing in reasonable detail the facts upon which such adjustment is based. 

(f) Notices. In the event that the Company shall propose at any time to effect any of the events described in Sections
(a) through (c) of this Section 5 that would result in an adjustment to the Exercise Price, the number of Warrant Shares issuable upon exercise of this Warrant or a change in the type of securities or property to be delivered upon exercise
of this Warrant, the Company shall send notice to the Holder in the manner set forth in Section 7. In the case of a dividend or other distribution (other than a regular cash dividend), the Company shall use reasonable efforts to send such
notice at least ten (10) calendar days prior to the applicable record date and shall specify such record date and the date on which such dividend or other distribution is to be made. In any other case, the Company shall use reasonable efforts
to send such notice at least fifteen (15) calendar days prior to the effective date of any such event and shall specify such effective date. In the event of a liquidation distribution in respect of the Class A Common Shares, the Company
shall use reasonable efforts to send notice to the Holder of such liquidation distribution at least ten (10) calendar days prior to such liquidation distribution or the establishment of a record date in respect thereof. In all cases, such
notice shall specify such event in reasonable detail, including the effect on the Exercise Price and the number, kind or class of securities or other property issuable upon exercise of this Warrant. Failure to furnish any evidence of adjustment
pursuant to Section 6(e) or to give any notice pursuant to this Section 5(f), or any defect in any such evidence of adjustment or notice, shall not affect the legality or the validity of the adjustment of the Exercise Price and/or the
number of securities, cash and/or other property issuable upon exercise of this Warrant, or any transaction giving rise thereto. 

(g) Other Adjustments. In case at any time or from time to time the Company shall take any action affecting its share
capital as such, other than an action described in this Section 5, that the Board of Directors (or a committee thereof) reasonably determines in good faith will adversely affect the rights of the Holder, the Exercise Price and/or the number of
Warrant Shares issuable upon exercise of this Warrant shall be adjusted in such manner and at such time as the Board of Directors (or a committee thereof) may reasonably and in good faith determine to be equitable in the circumstances. 

6. Acknowledgement of Restrictive Covenants. The Holder represents and agrees that he or she remains bound by the restrictive covenants
(including, without limitation, covenants relating to confidentiality, non-competition, and non-solicitation) set forth in one or more award agreements under which the
Holder’s Class M common shares were issued (each such agreement as may be amended or restated in accordance with the terms thereof, a “Prior Award Agreement”), and is fully aware of his or her obligations thereunder. 

  
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 7. Notices. Any notice, consent, payment, demand, or communication required or
permitted to be given by any provision of this Warrant shall be in writing and shall be (a) delivered personally to the Person or to an officer of the Person to whom the same is directed, (b) sent by overnight mail or registered or
certified mail, return receipt requested, postage prepaid, or (c) sent by email, with electronic or written confirmation of receipt, in each case addressed as follows: 
  

	 	(i)	 If to the Company: 

Athene Holding Ltd. 
 Chesney
House 
 96 Pitts Bay Road 

Pembroke HM08 
 Bermuda 

Attention: Natasha Scotland Courcy 

E-mail: NCourcy@athene.bm 

(ii) If to the Holder, at the last known address of such holder as disclosed by the books and records of the Company, and/or to
such other Persons and/or at such other addresses as may be designated by written notice served in accordance with the provisions hereof. 

8. Rights of the Holder. Prior to any exercise of this Warrant, the Holder shall not, by virtue hereof, be entitled to any rights of a
shareholder of the Company, including, without limitation, the right to vote, to receive dividends or other distributions, to exercise any preemptive right or to receive any notice of meetings of shareholders or any notice of any proceedings of the
Company except as may be specifically provided for herein. 
 9. Governing Law. This Warrant and any dispute arising
hereunder, including with respect to the formation or validity hereof, shall be governed by, and construed in accordance with, the laws of the State of Bermuda, regardless of the laws that might otherwise govern under applicable principles of
conflicts of laws thereof. 
 10. WAIVER OF TRIAL BY JURY. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND
ALL RIGHT TO TRIAL BY JURY IN ANY PROCEEDING ARISING OUT OF OR RELATED TO THIS WARRANT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OR ANY OTHER PARTY HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (B) SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF SUCH WAIVER, (C) SUCH PARTY MAKES
SUCH WAIVER VOLUNTARILY AND (D) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS WARRANT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 10. 

  
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 11. Jurisdiction; Enforcement. Each of the parties hereto hereby irrevocably and
unconditionally submits to the exclusive jurisdiction of any court located in Bermuda (each, a “Bermuda Court”) for purposes of any dispute, controversy or claim arising out of, connected with and/or otherwise relating to this
Warrant. In any such action, suit or other proceeding, each of the parties hereto irrevocably and unconditionally waives and agrees not to assert by way of motion, as a defense or otherwise any claim that it is not subject to the jurisdiction of any
such Bermuda Court, that such action, suit or other proceeding is not subject to the jurisdiction of any such Bermuda Court, that such action, suit or other proceeding is brought in an inconvenient forum or that the venue of such action, suit or
other proceeding is improper; provided, that nothing set forth in this sentence shall prohibit any of the parties hereto from removing any matter from one Bermuda Court to another Bermuda Court. Each of the parties hereto also agrees that any final
and unappealable judgment against a party hereto in connection with any action, suit or other proceeding will be conclusive and binding on such party and that such award or judgment may be enforced in any court of competent jurisdiction, either
within or outside of the United States. A certified or exemplified copy of such award or judgment will be conclusive evidence of the fact and amount of such award or judgment. Any process or other paper to be served in connection with any action or
proceeding under this Warrant shall, if delivered or sent in accordance with Section 7 of this Warrant, constitute good, proper and sufficient service thereof. 

12. Amendments of Warrant; Waiver. 

(a) This Warrant may be amended or modified by the Company. Notwithstanding the foregoing, this Warrant may not be modified or
amended without the consent of the Holder where such modification or amendment would materially impair the rights of such Holder. 

(b) No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof
nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or
remedies provided by law. Any party may waive any provision of this Warrant with respect to itself if such waiver is approved in writing by such party. 

13. Specific Performance. Each of the parties hereto agree that irreparable damage would occur in the event that any of the provisions
of this Warrant were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that, without the necessity of posting bond or other undertaking, the parties hereto shall be entitled to seek an
injunction or injunctions to prevent breaches of this Warrant and to enforce specifically the terms and provisions of this Warrant in accordance with this Warrant, this being in addition to any other remedy to which such party is entitled at law or
in equity. In the event that any action is brought in equity for injunctive relief or to enforce the provisions of this Warrant, no party hereto shall allege, and each party hereto hereby waives any defense or counterclaim, that there is an adequate
remedy at law. 

  
 10 

 14. Entire Agreement. This Warrant (including all exhibits and attachments hereto)
and other agreements contemplated hereby and the restrictive covenants contained in the Prior Award Agreement constitute the entire agreement, and supersedes all prior agreements, understandings, representations and warranties, both written and
oral, among the parties with respect to the subject matter of this Warrant, including, without limitation, any agreements, understandings, representations and warranties, either written or oral, with respect to the Company’s Class M common
shares previously held by the Holder. 
 15. Severability. If any provision of this Warrant is held to be illegal, invalid or
unenforceable under any present or future law by a court of competent jurisdiction, (a) such provision shall be fully severable, (b) this Warrant shall be construed and enforced as if such illegal, invalid or unenforceable provision had
never comprised a part of this Warrant and (c) the remaining provisions of this Warrant shall remain in full force and effect and shall not be affected by the illegal, invalid or unenforceable provision or by its severance therefrom. 

16. Tax Consequences. The Holder acknowledges and understands that (a) it is Holder’s responsibility to consult with
Holder’s tax advisors with respect to the tax treatment of the Warrant and (b) the Company and its advisors do not provide any tax advice with respect to the Warrant. 

[the remainder of the page has been intentionally left blank] 

  
 11 

 IN WITNESS WHEREOF, the Company has duly caused this Warrant to be signed by its duly
authorized officer and to be dated as of the date first written above. 
  

			
	ATHENE HOLDING LTD.
		
	By:	 	  

		 	Name: James R. Belardi
		 	Title: CEO, Athene Holding Ltd.

 [Signature Page to the Warrant Agreement] 

 Annex A 

WARRANT EXERCISE NOTICE 

(To be executed and delivered upon exercise of Warrant unless Electronic Exercise Procedures are Established) 

To: ATHENE HOLDING LTD. 
 The undersigned
irrevocably exercises the within Warrant for the purchase of [___________] shares (the “Warrant Shares”) of Class A Common Shares, par value $0.001 per share, of Athene Holding Ltd., a Bermuda exempted company (the
“Company”), at $[_____] per Warrant Share (the Exercise Price currently in effect pursuant to the Warrant) and, unless it is exercising the Warrant pursuant to Section 2(d) of the Warrant, herewith makes payment of
$[___________], all on the terms and conditions specified in the within Warrant, surrenders the within Warrant and all right, title and interest therein to the Company and directs that the Warrant Shares deliverable upon the exercise of the within
Warrant be registered or placed in the name and at the address specified below and delivered thereto. 
 Date: _________________________ 

 

	
	  

	(Signature of Owner)
	
	  

	(Street Address)
	
	  

	(City) (State) (Zip Code)

 Payment:    ☐    $__________ wire transfer immediately available funds

   ☐    cashless exercise of Warrant pursuant to section 2(d) hereof 

 

			
	Securities and/or check to be issued to:	 	 

  

			
	Please insert social security or identifying number:	 	 

  

			
	Name:	 	 

  

			
	Street Address:	 	 

  

			
	City, State and Zip Code:	 	 

 Any unexercised portion of the Warrant evidenced by the within Warrant to be issued to: 

 

			
	Please insert social security or identifying number:	 	 

  

			
	Name:	 	 

  

			
	Street Address:	 	 

  

			
	City, State and Zip Code:	 	 

 Annex B 

WARRANT ASSIGNMENT FORM 

Dated
[                        ], [            ] 

FOR VALUE RECEIVED,
[                            ] (the “Assignor”) hereby sells, assigns and
transfers
 unto
[                                         
                       ] (the “Assignee”),     

            (please type or print in block letters) 

 
  

(insert address) 
 its right to purchase up to
[                                ] Class A Common Shares represented by this
Warrant and does hereby irrevocably constitute and appoint
                                         
            Attorney, to transfer the same on the books of the Company, with full power of substitution in the premises. The Assignor requests that the Company promptly issue a new Warrant in
the name of the Assignee (and if applicable, the Assignor) pursuant to Section 4(c) of the Warrant. 
  

	
	Signature:

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