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Form SC 13D/A Atlas Corp. Filed by: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN

August 5, 2022 4:12 PM EDT

 

 

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

SCHEDULE 13D/A

 

(Amendment No. 11)

 

Under the Securities Exchange Act of 1934

 

Atlas Corp.

(Name of Issuer)

 

Common Shares, par value $0.01 per share

(Title of Class of Securities)

 

Y0436Q109

(CUSIP Number)

 

Peter Clarke

President and Chief Operating Officer

Fairfax Financial Holdings Limited

95 Wellington Street West, Suite 800

Toronto, Ontario, Canada, M5J 2N7

Telephone: (416) 367-4941

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

 

- With a copy to -

 

Jason R. Lehner

Sean J. Skiffington

Shearman & Sterling LLP

Commerce Court West

199 Bay Street, Suite 4405

Toronto, Ontario M5L 1E8

Telephone (416) 360-8484

 

August 4, 2022

(Date of Event which Requires Filing of this Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box ¨.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

V. PREM WATSA

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Canadian

 

   

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

131,759,155

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

131,759,155

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

131,759,155

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

51.1%

14

 

TYPE OF REPORTING PERSON

IN

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

THE SECOND 810 HOLDCO LTD.

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Canada

 

   

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

131,759,155

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

131,759,155

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

131,759,155

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

51.1%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

THE SECOND 1109 HOLDCO LTD.

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Canada

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

131,081,134

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

131,081,134

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

131,081,134

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

50.8%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

THE SIXTY TWO INVESTMENT COMPANY LIMITED

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

British Columbia

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

131,081,134

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

131,081,134

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

131,081,134

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

50.8%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

12002574 CANADA INC.

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Canada

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

131,081,134

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

131,081,134

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

131,081,134

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

50.8%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

FAIRFAX FINANCIAL HOLDINGS LIMITED

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Canada

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

131,081,134

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

131,081,134

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

131,081,134

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

50.8%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

FFHL GROUP LTD.

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Canada

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

90,418,215

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

90,418,215

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

90,418,215

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

35.1%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

FAIRFAX (BARBADOS) INTERNATIONAL CORP.

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Barbados

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

10,478,017

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

10,478,017

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

10,478,017

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

4.1%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

WENTWORTH INSURANCE COMPANY LTD.

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Barbados

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

10,325,879

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

10,325,879

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

10,325,879

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

4.0%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

THE SIXTY THREE FOUNDATION

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Canada

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

231,922

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

231,922

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

231,922

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.1%

14

 

TYPE OF REPORTING PERSON

NP

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

FAIRFAX (US) INC.

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

73,025,299

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

73,025,299

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

73,025,299

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

28.3%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

ODYSSEY US HOLDINGS INC.

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

50,772,519

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

50,772,519

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

50,772,519

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

19.7%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

ODYSSEY GROUP HOLDINGS, INC.

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

50,772,519

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

50,772,519

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

50,772,519

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

19.7%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

ODYSSEY REINSURANCE COMPANY

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Connecticut

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

46,107,152

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

46,107,152

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

46,107,152

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

17.9%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

GREYSTONE INSURANCE COMPANY

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Connecticut

 

 

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

4,457,990

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

4,457,990

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

4,457,990

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

1.7%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

NEWLINE HOLDINGS UK LIMITED

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

ENGLAND AND WALES

 

 

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

1,090,885

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

1,090,885

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

1,090,885

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.4%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

NEWLINE CORPORATE NAME LIMITED

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

ENGLAND AND WALES

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

1,090,885

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

1,090,885

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

1,090,885

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.4%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

HUDSON INSURANCE COMPANY

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

4,838,579

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

4,838,579

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

4,838,579

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

1.9%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

HILLTOP SPECIALTY INSURANCE COMPANY

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

New York

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

265,111

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

265,111

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

265,111

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.1%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

HUDSON EXCESS INSURANCE COMPANY

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

745,700

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

745,700

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

745,700

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.3%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

1102952 B.C. UNLIMITED LIABILITY COMPANY

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

British Columbia

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

26,415,922

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

26,415,922

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

26,415,922

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

10.2%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

ALLIED WORLD ASSURANCE COMPANY HOLDINGS, LTD

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Bermuda

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

26,415,922

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

26,415,922

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

26,415,922

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

10.2%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

ALLIED WORLD ASSURANCE COMPANY HOLDINGS I, LTD

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Bermuda

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

26,415,922

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

26,415,922

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

26,415,922

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

10.2%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

ALLIED WORLD ASSURANCE COMPANY, LTD

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Bermuda

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

26,415,922

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

26,415,922

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

26,415,922

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

10.2%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

ALLIED WORLD ASSURANCE HOLDINGS (IRELAND) LTD

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Bermuda

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

19,978,170

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

19,978,170

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

19,978,170

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

7.7%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

ALLIED WORLD ASSURANCE HOLDINGS (U.S.) INC.

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

16,727,358

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

16,727,358

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

16,727,358

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

6.5%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

ALLIED WORLD INSURANCE COMPANY

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). ¨

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

New Hampshire

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

16,714,025

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

16,714,025

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

16,714,025

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

6.5%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

AW UNDERWRITERS INC.

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) o

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). o

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

5,904,625

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

5,904,625

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

5,904,625

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

2.3%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

ALLIED WORLD SPECIALTY INSURANCE COMPANY

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) o

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). o

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

5,904,625

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

5,904,625

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

5,904,625

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

2.3%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

ALLIED WORLD SURPLUS LINES INSURANCE COMPANY

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) o

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). o

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Arkansas

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

1,019,671

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

1,019,671

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

1,019,671

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.4%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

ALLIED WORLD ASSURANCE COMPANY, AG

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) o

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). o

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Switzerland

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

2,120,890

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

2,120,890

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,120,890

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.8%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

ALLIED WORLD ASSURANCE COMPANY (EUROPE) DAC

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) o

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). o

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Ireland

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

1,129,922

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

1,129,922

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

1,129,922

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.4%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

ALLIED WORLD ASSURANCE COMPANY (U.S.) INC.

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) o

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). o

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

1,019,671

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

1,019,671

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

1,019,671

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.4%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

CRUM & FORSTER HOLDINGS CORP.

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) o

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). o

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

13,636,162

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

13,636,162

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

13,636,162

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

5.3%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

UNITED STATES FIRE INSURANCE COMPANY

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) o

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). o

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

 

 

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

13,636,162

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

13,636,162

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

13,636,162

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

5.3%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

ZENITH NATIONAL INSURANCE CORP.

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) o

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). o

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

3,542,612

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

3,542,612

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

3,542,612

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

1.4%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

ZENITH INSURANCE COMPANY

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) o

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). o

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

California

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

3,542,612

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

3,542,612

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

3,542,612

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

1.4%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

BRIT LIMITED

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) o

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). o

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

England and Wales

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

6,914,899

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

6,914,899

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

6,914,899

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

2.7%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

BRIT INSURANCE HOLDINGS LIMITED

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) o

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). o

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

England and Wales

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

6,914,899

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

6,914,899

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

6,914,899

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

2.7%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

BRIT REINSURANCE (BERMUDA) LIMITED

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) o

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). o

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

Bermuda

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

3,605,190

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

3,605,190

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

3,605,190

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

1.4%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

BRIT UW LIMITED

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) o

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). o

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

England and Wales

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

2,582,532

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

2,582,532

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,582,532

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

1.0%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

TIG INSURANCE COMPANY

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) o

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). o

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

California

  

 

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

5,074,006

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

5,074,006

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

5,074,006

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

2.0%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

ALLIED WORLD NATIONAL ASSURANCE COMPANY

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) o

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). o

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

New Hampshire

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

13,333

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

13,333

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

13,333

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.0%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

BRIT SYNDICATES LIMITED

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) o

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). o

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

England and Wales

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

727,177

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

727,177

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

727,177

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.3%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

CUSIP No. Y0436Q109

 

13D  

1

 

Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only)

THE NORTH RIVER INSURANCE COMPANY

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) o

(b) x

3

 

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E). o

6

 

CITIZENSHIP OR PLACE OF ORGANIZATION

New Jersey

 

  

NUMBER OF SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH

7

 

SOLE VOTING POWER

0

8

 

SHARED VOTING POWER

2,237,100

9

 

SOLE DISPOSITIVE POWER

0

10

 

SHARED DISPOSITIVE POWER

2,237,100

11

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,237,100

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

 

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.9%

14

 

TYPE OF REPORTING PERSON

CO

           

 

 

 

Explanatory note

 

Pursuant to Rule 13d-2 promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), this Amendment No. 11 to Schedule 13D (this “Amendment No. 11”) amends and supplements the statement on Schedule 13D filed with the United States Securities and Exchange Commission (the “SEC”) on February 26, 2018 (as amended and supplemented prior to the date hereof, the “Original Schedule 13D” and, as amended and supplemented by this Amendment No. 11, the “Schedule 13D”) with respect to Class A common shares of Seaspan Corporation (“Seaspan”), the predecessor of Atlas Corp., a Marshall Islands corporation (“Atlas”). This Schedule 13D relates to the common shares, par value $0.01 per share of Atlas (“Common Shares”).

 

This Amendment No. 11 is filed in connection with the entry of the Reporting Persons and certain of their affiliates into a Joint Bidding Agreement with respect to Atlas, as described in more detail herein.

 

The following amendments to Items 2, 5, 6 and 7 of the Original Schedule 13D are hereby made:

 

  Item 2. Identity and Background.

 

Item 2 of the Original Schedule 13D is hereby amended and restated in its entirety to read as follows:

 

“This statement is being jointly filed by the following persons (collectively, the “Reporting Persons”):

 

  1. V. Prem Watsa, an individual, is a citizen of Canada, and is the Chairman and Chief Executive Officer of Fairfax Financial Holdings Limited. Mr. Watsa’s business address is 95 Wellington Street West, Suite 800, Toronto, Ontario, Canada, M5J 2N7;

 

  2. The Second 810 Holdco Ltd. (“810 Holdco”), a corporation incorporated under the laws of Canada, is controlled by V. Prem Watsa. 810 Holdco is an investment holding company. The principal business and principal office address of 810 Holdco is 95 Wellington Street West, Suite 802, Toronto, Ontario, Canada, M5J 2N7;

 

  3. The Second 1109 Holdco Ltd. (“Holdco”), a corporation incorporated under the laws of Canada, is controlled by V. Prem Watsa. Holdco is an investment holding company. The principal business and principal office address of Holdco is 95 Wellington Street West, Suite 802, Toronto, Ontario, Canada, M5J 2N7;

 

  4. The Sixty Two Investment Company Limited (“Sixty Two”), a corporation incorporated under the laws of British Columbia, is controlled by V. Prem Watsa. Sixty Two is an investment holding company. The principal business and principal office address of Sixty Two is 1600 Cathedral Place, 925 West Georgia St., Vancouver, British Columbia, Canada, V6C 3L2;

 

  5. 12002574 Canada Inc. (“12002574”), a corporation incorporated under the laws of Canada, is controlled by V. Prem Watsa. 12002574 is an investment holding company. The principal business and principal office address of 12002574 is 95 Wellington Street West, Suite 800, Toronto, Ontario, Canada, M5J 2N7;

 

  6. Fairfax Financial Holdings Limited (“Fairfax”) is a corporation incorporated under the laws of Canada. Fairfax is a holding company. The principal business and principal office address of Fairfax is 95 Wellington Street West, Suite 800, Toronto, Ontario, Canada, M5J 2N7;

 

  7. FFHL Group Ltd. (“FFHL”), a corporation incorporated under the laws of Canada, is a wholly owned subsidiary of Fairfax. FFHL is a holding company. The principal business and principal office address of FFHL is 95 Wellington Street West, Suite 800, Toronto, Ontario, Canada, M5J 2N7;

 

  8. Fairfax (Barbados) International Corp. (“Fairfax Barbados”), a corporation incorporated under the laws of Barbados, is a wholly owned subsidiary of Fairfax. Fairfax Barbados is an investment holding company. The principal business and principal office address of Fairfax Barbados is #12 Pine Commercial Centre, The Pine, St. Michael, Barbados, BB11103;

 

  9. Wentworth Insurance Company Ltd. (“Wentworth”), a corporation incorporated under the laws of Barbados, is a wholly owned subsidiary of Fairfax. The principal business of Wentworth is reinsurance. The principal business and principal office address of Wentworth is #12 Pine Commercial Centre, The Pine, St. Michael, Barbados, BB11103;

 

 

 

 

  10. The Sixty Three Foundation (“Sixty Three”) a non-profit corporation incorporated under the laws of Canada, is a registered charity. The principal business and principal office address of Sixty Three is 95 Wellington Street West, Suite 800, Toronto, Ontario, Canada, M5J 2N7;

 

  11. Fairfax (US) Inc. (“Fairfax US”), a corporation incorporated under the laws of Delaware, is a wholly owned subsidiary of Fairfax. Fairfax US is a holding company. The principal business and principal office address of Fairfax US is 2850 Lake Vista Drive, Suite 150, Lewisville, Texas, USA, 75067;

 

  12. Odyssey US Holdings Inc. (“Odyssey”), a corporation incorporated under the laws of Delaware, is a wholly owned subsidiary of Fairfax. Odyssey is a holding company. The principal business and principal office address of Odyssey is 1209 Orange Street, Wilmington, Delaware, USA, 19801;

 

  13. Odyssey Group Holdings, Inc. (“Odyssey Group”), a corporation incorporated under the laws of Delaware, is a subsidiary of Fairfax. Odyssey Group is a holding company. The principal business and principal office address of Odyssey Group is 300 First Stamford Place, Stamford, Connecticut, USA, 06902;

 

  14. Odyssey Reinsurance Company (“Odyssey Reinsurance”), a corporation incorporated under the laws of Connecticut, is a subsidiary of Fairfax. The principal business of Odyssey Reinsurance is reinsurance. The principal business and principal office address of Odyssey Reinsurance is 300 First Stamford Place, Stamford, Connecticut, USA, 06902;

 

  15. Greystone Insurance Company (“Greystone Insurance”), a corporation incorporated under the laws of Connecticut, is a subsidiary of Fairfax. The principal business of Greystone Insurance is reinsurance. The principal business and principal office address of Greystone Insurance is 300 First Stamford Place, Stamford, Connecticut, USA, 06902;

 

  16. Newline Holdings UK Limited (“Newline UK”), a corporation incorporated under the laws of England and Wales, is a subsidiary of Fairfax. Newline UK is a holding company. The principal business and principal office address of Newline UK is 1 Fen Court, London, England, EC3M 5BN;

 

  17. Newline Corporate Name Limited (“Newline”), a corporation incorporated under the laws of England and Wales, is a subsidiary of Fairfax. Newline is a Corporate Member of Lloyd’s (and the sole capital provider to Newline Syndicate 1218 at Lloyd’s). The principal business and principal office address of Newline is 1 Fen Court, London, England, EC3M 5BN;

 

  18. Hudson Insurance Company (“Hudson Insurance”), a corporation incorporated under the laws of Delaware, is a subsidiary of Fairfax. The principal business of Hudson Insurance is property and casualty insurance. The principal business and principal office address of Hudson Insurance is 100 William Street, 5th Floor, New York, New York, USA, 10038;

 

  19. Hilltop Specialty Insurance Company (“Hilltop Specialty”), a corporation incorporated under the laws of New York, is a subsidiary of Fairfax. The principal business of Hilltop Specialty is surplus lines insurance. The principal business and principal office address of Hilltop Specialty is 100 William Street, 5th Floor, New York, New York, USA, 10038;
     
  20. Hudson Excess Insurance Company (“Hudson Excess”), a corporation incorporated under the laws of Delaware, is a subsidiary of Fairfax. The principal business of Hudson Excess is as a surplus lines insurer. The principal business and principal office address of Hudson Excess is 100 William Street, 5th Floor, New York, New York, USA, 10038;

 

  21. 1102952 B.C. Unlimited Liability Company (“1102952”), a corporation incorporated under the laws of British Columbia, is a wholly owned subsidiary of Fairfax. 1102952 is a holding company. The principal business and principal office address of 1102952 is 1600 - 925 West Georgia Street, Vancouver, British Columbia, Canada, V6C 3L2;

 

 

 

 

  22. Allied World Assurance Company Holdings, Ltd (“Allied Holdings Bermuda”), a corporation incorporated under the laws of Bermuda, is a subsidiary of Fairfax. Allied Holdings Bermuda is a holding company. The principal business and principal office address of Allied Holdings Bermuda is 27 Richmond Road, Pembroke, Bermuda, HM 08;

 

  23. Allied World Assurance Company Holdings I, Ltd (“Allied Holdings I Ltd”), a corporation incorporated under the laws of Bermuda, is a subsidiary of Fairfax. Allied Holdings I Ltd is a holding company. The principal business and principal office address of Allied Holdings I Ltd is 27 Richmond Road, Pembroke, Bermuda, HM 08;

 

  24. Allied World Assurance Company, Ltd (“Allied Assurance”), a corporation incorporated under the laws of Bermuda, is a subsidiary of Fairfax. The principal business of Allied Assurance is insurance. The principal business and principal office address of Allied Assurance is 27 Richmond Road, Pembroke, Bermuda, HM 08;

 

  25. Allied World Assurance Holdings (Ireland) Ltd (“Allied Ireland”), a corporation incorporated under the laws of Bermuda, is a subsidiary of Fairfax. Allied Ireland is a holding company. The principal business and principal office address of Allied Ireland is 27 Richmond Road, Pembroke, Bermuda, HM 08;

 

  26. Allied World Assurance Holdings (U.S.) Inc. (“Allied U.S.”), a corporation incorporated under the laws of Delaware, is a subsidiary of Fairfax. Allied U.S. is a holding company. The principal business and principal office address of Allied U.S. is 1209 Orange Street, Wilmington, Delaware, USA, 19801;

 

  27. Allied World Insurance Company (“Allied Insurance”), a corporation incorporated under the laws of New Hampshire, is a subsidiary of Fairfax. The principal business of Allied Insurance is insurance. The principal business and principal office address of Allied Insurance is 10 Ferry Street, Suite 313, Concord, New Hampshire, USA, 03301;

 

  28. AW Underwriters Inc. (“AW”), a corporation incorporated under the laws of Delaware, is a subsidiary of Fairfax. AW is an insurance agency. The principal business and principal office address of AW is 251 Little Falls Drive, Wilmington, Delaware, USA, 19808;

 

  29. Allied World Specialty Insurance Company (“Allied Specialty”), a corporation incorporated under the laws of Delaware, is a subsidiary of Fairfax. The principal business of Allied Specialty is insurance. The principal business and principal office address of Allied Specialty is 251 Little Falls Drive, Wilmington, Delaware, USA, 19808;

 

  30. Allied World Surplus Lines Insurance Company (“Allied Lines”), a corporation incorporated under the laws of Arkansas, is a subsidiary of Fairfax. The principal business of Allied Lines is insurance. The principal business and principal office address of Allied Lines is 425 West Capitol Avenue, Suite 1800, Little Rock, Arkansas, USA, 72201-3525;

 

  31. Allied World Assurance Company, AG (“Allied World AG”), a corporation incorporated under the laws of Switzerland, is a subsidiary of Fairfax. The principal business of Allied World AG is insurance. The principal business and principal office address of Allied World AG is Park Tower, 15th Floor, Gubelstrasse 24, 6300, Zug, Switzerland;

 

  32. Allied World Assurance Company (Europe) dac (“Allied Europe”), a corporation incorporated under the laws of Ireland, is a subsidiary of Fairfax. The principal business of Allied Europe is insurance. The principal business and principal office address of Allied Europe is 3rd Floor, Georges Quay Plaza, Georges Quay, Dublin 2, Ireland;

 

  33. Allied World Assurance Company (U.S.) Inc. (“Allied Assurance U.S.”), a corporation incorporated under the laws of Delaware, is a subsidiary of Fairfax. The principal business of Allied Assurance U.S. is insurance. The principal business and principal office address of Allied Assurance U.S. is 251 Little Falls Drive, Wilmington, Delaware, USA, 19808;

 

  34. Crum & Forster Holdings Corp. (“Crum & Forster”), a corporation incorporated under the laws of Delaware, is a wholly owned subsidiary of Fairfax. Crum & Forster is a holding company. The principal business and principal office address of Crum & Forster is 1209 Orange Street, Wilmington, Delaware, USA, 19801;

 

 

 

 

  35. United States Fire Insurance Company (“US Fire”), a corporation incorporated under the laws of Delaware, is a wholly owned subsidiary of Fairfax. The principal business of US Fire is insurance. The principal business and principal office address of US Fire is 1209 Orange Street, Wilmington, Delaware, USA, 19801;

 

  36. Zenith National Insurance Corp. (“ZNIC”), a corporation incorporated under the laws of Delaware, is a wholly owned subsidiary of Fairfax. ZNIC is a holding company. The principal business and principal office address of ZNIC is 21255 Califa Street, Woodland Hills, California, USA, 91367-5021;

 

  37. Zenith Insurance Company (“Zenith”), a corporation incorporated under the laws of California, is a wholly owned subsidiary of Fairfax. The principal business of Zenith is workers’ compensation insurance. The principal business and principal office address of Zenith is 21255 Califa Street, Woodland Hills, California, USA, 91367-5021;

 

  38. Brit Limited (“Brit”), a corporation incorporated under the laws of England and Wales, is a wholly owned subsidiary of Fairfax. Brit is a holding company. The principal business and principal office address of Brit is The Leadenhall Building, 122 Leadenhall Street, London, United Kingdom, EC3V 4AB;

 

  39. Brit Insurance Holdings Limited (“Brit Insurance”), a corporation incorporated under the laws of England and Wales, is a wholly owned subsidiary of Fairfax. Brit Insurance is a holding company. The principal business and principal office address of Brit Insurance is The Leadenhall Building, 122 Leadenhall Street, London, United Kingdom, EC3V 4AB;

 

  40. Brit Reinsurance (Bermuda) Limited (“Brit Reinsurance”), a corporation incorporated under the laws of Bermuda, is a wholly owned subsidiary of Fairfax. The principal business of Brit Reinsurance is reinsurance. The principal business and principal office address of Brit Reinsurance is Clarendon House, 2 Church Street, Hamilton, Bermuda, HM 11;

 

  41. Brit UW Limited (“Brit UW”), a corporation incorporated under the laws of England and Wales, is a Lloyd’s Corporate Member. The principal business of Brit UW is Lloyd's Corporate Member. The principal business address and principal office address of Brit UW is The Leadenhall Building, 122 Leadenhall Street, London, United Kingdom, EC3V 4AB;

 

  42. TIG Insurance Company (“TIG”), a corporation incorporated under the laws of California, is a wholly owned subsidiary of Fairfax. The principal business of TIG is property and casualty insurance. The principal business and principal office address of TIG is 250 Commercial Street, Suite 5000, Manchester, New Hampshire, USA, 03101;

 

  43. Allied World National Assurance Company (“Allied National”), a corporation incorporated under the laws of New Hampshire, is a subsidiary of Fairfax. The principal business of Allied National is insurance. The principal business and principal office address of Allied National is 10 Ferry Street, Suite 313, Concord, New Hampshire, USA, 03301;

 

  44. Brit Syndicates Limited (“Brit Syndicates”), a corporation incorporated under the laws of England and Wales, is a wholly owned subsidiary of Fairfax. The principal business of Brit Syndicates is insurance. The principal business and principal office address of Brit Syndicates is The Leadenhall Building, 122 Leadenhall Street, London, United Kingdom, EC3V4AB; and

 

  45. The North River Insurance Company (“North River”), a corporation incorporated under the laws of New Jersey, is a wholly owned subsidiary of Fairfax. The principal business of North River is insurance. The principal business and principal office address of North River is 305 Madison Avenue, Morristown, New Jersey, USA, 07962.

 

 

 

 

Neither the filing of this Schedule 13D nor the information contained herein shall be deemed to constitute an affirmation by V. Prem Watsa, 810 Holdco, Holdco, Sixty Two, 12002574, Fairfax, FFHL, Fairfax Barbados, Wentworth, Sixty Three, Fairfax US, Odyssey, Odyssey Group, Odyssey Reinsurance, Greystone Insurance, Newline UK, Newline, Hudson Insurance, Hilltop Specialty, Hudson Excess, 1102952, Allied Holdings Bermuda, Allied Holdings I Ltd, Allied Assurance, Allied Ireland, Allied U.S., Allied Insurance, AW, Allied Specialty, Allied Lines, Allied World AG, Allied Europe, Allied Assurance U.S., Crum & Forster, US Fire, ZNIC, Zenith, Brit, Brit Insurance, Brit Reinsurance, Brit UW, TIG, Allied National, Brit Syndicates or North River that it is the beneficial owner of the Common Shares referred to herein for purposes of Section 13(d) of the Exchange Act, or for any other purpose, and such beneficial ownership is expressly disclaimed.

 

The name, present principal occupation or employment and name, principal business and address of any corporation or other organization in which such employment is conducted and the citizenship of each director and executive officer of each of the Reporting Persons is set forth in Annex A, B, C, D, E, F, G, H, I, J, K, L, M, N, O, P, Q, R, S, T, U, V, W, X, Y, Z, AA, BB, CC, DD, EE, FF, GG, HH, II, JJ, KK, LL, MM, NN, OO, PP, QQ and RR as the case may be, and such Annexes are incorporated herein by reference.

 

Pursuant to Rule 13d-1(k) under the Exchange Act, the Reporting Persons have agreed to file jointly one statement with respect to their ownership of the Common Shares.

 

During the last five years, none of the Reporting Persons, and to the best of each such Reporting Person’s knowledge, none of the executive officers or directors of such Reporting Person have been (a) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (b) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.”

 

Item 4. Purpose of Transaction.

 

Item 4 of the Original Schedule 13D is hereby amended and supplemented by the addition of the following:

 

“On August 4, 2022, Poseidon Acquisition Corp., an Marshall Islands entity (“Bidco”) formed by David L. Sokol (“DS”), Chairman of the Board of Directors of Atlas, together with the Reporting Persons, Deep Water Holdings, LLC (“Deep Water”), The Kyle Roy Washington 2014 Trust, Kyle Roy Washington 2005 Irrevocable Trust u/a/d July 15, 2005, and The Kevin Lee Washington 2014 Trust (collectively with Deep Water, “Washington Family Holdings”), and Ocean Network Express Pte. Ltd. (“ONE”) and certain of their respective affiliates (the “Consortium”), delivered a non-binding proposal (the “Proposal”) to the Board of Directors of Atlas (the “Board”) in respect of a potential offer by the Consortium to acquire all of the outstanding Common Shares of Atlas not presently owned by the Reporting Persons, Washington Family Holdings, DS and certain executive management at a price per Common Share equal to $14.45 (the “Proposed Transaction”). The Consortium also issued a press release publicly disclosing the Proposal. The Consortium has not proposed any specific structure for the Proposed Transaction nor has it received any feedback from Atlas.

 

The Proposal is non-binding in nature and does not obligate in any way the Consortium, the members thereof, or Atlas to negotiate or enter into definitive documentation with respect to a transaction or otherwise complete the Proposed Transaction. The Proposal states that the members of the Consortium are only interested in acquiring the outstanding Common Shares that they do not already own, and are not interested in selling their Common Shares to another party. In addition, the Consortium has stated that any transaction, once structured and agreed upon, would be conditioned upon, among other things, the (x) approval of the transaction by a properly constituted special committee of independent directors of Atlas, authorized and empowered to retain its own independent legal and financial advisors and (y) approval of the holders of a majority of the Common Shares not held by members of the Consortium or their affiliates. As the Reporting Persons, DS, and Washington Family Holdings on an aggregated basis own or control approximately 68% of the Common Shares on a fully-diluted basis, the Proposal would not result in a change of control of Atlas.

 

The foregoing description of the Proposal does not purport to be complete and is qualified in its entirety by reference to the full text of the Proposal, which is filed herewith as Exhibit 99.6 and incorporated herein by reference. The press release issued by the Consortium publicly disclosing the Proposal is filed herewith as Exhibit 99.7.

 

The disclosure in Item 6 regarding the Joint Bidding Agreement (as defined below) and Equity Commitment Letters (as defined below) is incorporated by reference herein.

 

Neither the Proposal nor this Schedule 13D is meant to be, nor should be construed as, an offer to buy or the solicitation of an offer to sell any of Atlas’s securities.

 

 

 

 

The Reporting Persons intend to review their investment in Atlas on a continuing basis and may from time to time and at any time in the future depending on various factors, including, without limitation, the outcome of any discussions referenced in this Schedule 13D, as may be amended from time to time, and any limitations imposed by the Joint Bidding Agreement, Atlas’s financial position and strategic direction, actions taken by the Board, price levels of Atlas’s securities, other investment opportunities available to the Reporting Person, conditions in the securities market and general economic and industry conditions, take such actions with respect to the investment in Atlas as they deem appropriate. These actions may include, subject to limitations imposed by the Joint Bidding Agreement: (i) acquiring additional Common Shares and/or other equity, debt, notes, other securities, or derivative or other instruments that are based upon or relate to the value of securities of Atlas (collectively, “Securities”) in the open market or otherwise; (ii) disposing of any or all of their Securities in the open market or otherwise; (iii) engaging in any hedging or similar transactions with respect to the Securities; or (iv) proposing or considering one or more of the actions described in subsections (a) through (j) of Item 4 of Schedule 13D.”

 

Item 5. Interest in Securities of the Issuer.

 

Item 5 of the Original Schedule 13D is hereby amended and restated in its entirety to read as follows:

 

  “(a) Based on the most recent information available, the aggregate number and percentage of Common Shares (the securities identified pursuant to Item 1 of this Schedule 13D) that are beneficially owned by each of the Reporting Persons is set forth in boxes 11 and 13 of the second part of the cover page to this Schedule 13D for each of the Reporting Persons, and such information is incorporated herein by reference.

 

The percentage of Common Shares beneficially owned by each of the Reporting Persons was calculated based on 257,875,620 Common Shares issued and outstanding as of July 27, 2022 (assuming conversion of all of the warrants held by the Reporting Persons into Common Shares).

 

As a result of the execution and delivery of the Joint Bidding Agreement, the Reporting Persons may be deemed to have formed a “group” as such term is used in Regulation 13D under the Exchange Act with each member of the Consortium that beneficially owns Common Shares of Atlas. The Reporting Persons disclaim any membership in a group with DS and Washington Family Holdings. Each of DS and Washington Family Holdings have separately filed an amended Schedule 13D reporting their respective beneficial ownership of Common Shares. The beneficial ownership of the Reporting Persons does not include any Common Shares which may be beneficially owned by any of the other members of the Consortium and the Reporting Persons disclaim beneficial ownership over any such Common Shares.

 

  (b) Except as described below, the numbers of Common Shares as to which each of the Reporting Persons has sole voting power, shared voting power, sole dispositive power and shared dispositive power is set forth in boxes 7, 8, 9 and 10, respectively, on the second part of the cover page to this Schedule 13D for each of the Reporting Persons, and such information is incorporated herein by reference.

 

  (c) Except as described herein, none of the Reporting Persons, nor, to the best knowledge of the Reporting Persons, any person listed in Annex A, B, C, D, E, F, G, H, I, J, K, L, M, N, O, P, Q, R, S, T, U, V, W, X, Y, Z, AA, BB, CC, DD, EE, FF, GG, HH, II, JJ, KK, LL, MM, NN, OO, PP, QQ or RR beneficially owns, or has acquired or disposed of, any Common Shares during the last 60 days.

   

  (d) No person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of Common Shares held by the Reporting Persons other than each of the Reporting Persons.

 

  (e) Not applicable.”

 

 

 

 

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.

 

Item 6 of the Original Schedule 13D is hereby amended and supplemented by the addition of the following:

 

On August 4, 2022, the members of the Consortium entered into a Joint Bidding Agreement (the “Joint Bidding Agreement”), which sets out the terms upon which the parties thereto would make the Proposal. A copy of the Joint Bidding Agreement is filed herewith as Exhibit 99.8 and is incorporated by reference into this Item 6. The Joint Bidding Agreement specifies, among other things, that members of the Consortium will cooperate in good faith and work exclusively regarding the Proposed Transaction and provides, under certain circumstances, for certain parties to reimburse the other parties for their expenses. The Joint Bidding Agreement further contemplates (i) the equity commitment referenced below, (ii) the rollover of the Common Shares currently owned by each of the Reporting Persons, Washington Family Holdings and DS into Bidco in connection with the Proposed Transaction, and (iii) partial participation in the equity financing by each of Washington Family Holdings and DS. This summary of the Joint Bidding Agreement above is qualified in its entirety by reference to the Joint Bidding Agreement filed herewith as Exhibit 99.8, which is incorporated by reference into this Item 6.

 

In addition, also on August 4, 2022, each of ONE, Deep Water, and DS, entered into equity commitment letters with Bidco (the “Equity Commitment Letters”) pursuant to which each such party has agreed to provide, or cause to be provided, equity financing to Bidco in connection with the Proposed Transaction in an amount sufficient to fund the Proposal. The summary of the Equity Commitment Letters above is qualified in its entirety by reference to the Equity Commitment Letters filed as Exhibits 99.9, 99.10 and 99.11 hereto, which are incorporated by reference into this Item 6.

 

Other than as set forth above in Item 4 or Item 6 of this Schedule 13D and with respect to the agreements described in this Schedule 13D, to the knowledge of the Reporting Persons, there are no contracts, arrangements, understandings or relationships (legal or otherwise) involving the Consortium, with respect to any securities of Atlas, including, but not limited to, transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies, including any securities pledged or otherwise subject to a contingency the occurrence of which would give another person voting power or investment power over such securities other than standard default and similar provisions contained in loan agreements.

 

The calculation of Fairfax beneficial ownership includes 9,018,474 Common Shares over which Fairfax exercises investment discretion, but which are subject to the Asset Value Loan Notes as described in Item 6 of the Schedule 13D/A filed by Fairfax with the SEC on August 23, 2021 for Atlas.

 

 

 

 

Item 7. Material to Be Filed as Exhibits.

 

The following are filed herewith as exhibits:

 

Ex. 99.1: Members of filing group, dated April 8, 2022 (incorporated by reference to Exhibit 1 to the Schedule 13D filed by certain of the Reporting Persons with the SEC on April 8, 2022).

 

Ex. 99.2: Joint filing agreement dated, April 8, 2022 (incorporated by reference to Exhibit 2 to the Schedule 13D filed by certain of the Reporting Persons with the SEC on April 8, 2022).

  

Ex. 99.3: Power of attorney, dated March 9, 2020 (incorporated by reference to Exhibit 8 to the Schedule 13D filed by certain of the Reporting Persons with the SEC on March 9, 2020).

 

Ex. 99.4: Power of attorney, dated April 27, 2021 (incorporated by reference to Exhibit 4 to the Schedule 13D filed by certain of the Reporting Persons with the SEC on June 14, 2021).

 

Ex. 99.5: Power of attorney, dated June 14, 2021 (incorporated by reference to Exhibit 5 to the Schedule 13D filed by certain of the Reporting Persons with the SEC on June 14, 2021).
   
Ex. 99.6: Proposal, dated August 4, 2022.
   
Ex. 99.7: Press Release, dated August 4, 2022.
   
Ex. 99.8: Joint Bidding Agreement, dated August 4, 2022.
   
Ex. 99.9: Equity Commitment Letter of David L. Sokol, dated August 4, 2022.
   
Ex. 99.10: Equity Commitment Letter of Deep Water Holdings, LLC, dated August 4, 2022.
   
Ex. 99.11: Equity Commitment Letter of Ocean Network Express Pte. Ltd., dated August 4, 2022.

 

 

 

 

SIGNATURE

  

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 V. Prem Watsa
     
    /s/ V. Prem Watsa

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 The Second 810 Holdco Ltd.
   
  By: /s/ V. Prem Watsa
  Name: V. Prem Watsa
  Title: Director

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 The Second 1109 Holdco Ltd.
   
  By: /s/ V. Prem Watsa
  Name: V. Prem Watsa
  Title: President

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 The Sixty Two Investment Company Limited
   
  By: /s/ V. Prem Watsa
  Name: V. Prem Watsa
  Title: President

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 12002574 Canada Inc.
   
  By: /s/ V. Prem Watsa
  Name: V. Prem Watsa
  Title: President

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Fairfax Financial Holdings Limited
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: President and Chief Operating Officer

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 FFHL Group Ltd.
   
  By: /s/ V. Prem Watsa
  Name: V. Prem Watsa
  Title: President

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Fairfax (Barbados) International Corp.
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Wentworth Insurance Company Ltd.
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 The Sixty Three Foundation
   
  By: /s/ V. Prem Watsa
  Name: V. Prem Watsa
  Title: Director

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Fairfax (US) Inc.
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Odyssey US Holdings Inc.
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Odyssey Group Holdings, Inc.
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Odyssey Reinsurance Company
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Greystone Insurance Company
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Newline Holdings UK Limited
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Newline Corporate Name Limited
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Hudson Insurance Company
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Hilltop Specialty Insurance Company
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Hudson Excess Insurance Company
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 1102952 B.C. Unlimited Liability Company
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Allied World Assurance Company Holdings, Ltd
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Allied World Assurance Company Holdings I, Ltd
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Allied World Assurance Company, Ltd
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Allied World Assurance Holdings (Ireland) Ltd.
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Allied World Assurance Holdings (U.S.) Inc.
     
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Allied World Insurance Company
     
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 AW Underwriters Inc.
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Allied World Specialty Insurance Company
     
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Allied World Surplus Lines Insurance Company
     
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Allied World Assurance Company, AG
     
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Allied World Assurance Company (Europe) dac
     
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Allied World Assurance Company (U.S.) Inc.
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Crum & Forster Holdings Corp.
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 United States Fire Insurance Company
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Zenith National Insurance Corp.
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Zenith Insurance Company
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Brit Limited
   
  By: /s/ Gavin Wilkinson
  Name: Gavin Wilkinson
  Title: Group Chief Financial Officer

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Brit Insurance Holdings Limited
   
  By: /s/ Gavin Wilkinson
  Name: Gavin Wilkinson
  Title: Group Chief Financial Officer

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Brit Reinsurance (Bermuda) Limited
   
  By: /s/ Gavin Wilkinson
  Name: Gavin Wilkinson
  Title: Group Chief Financial Officer

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Brit UW Limited
   
  By: /s/ Gavin Wilkinson
  Name: Gavin Wilkinson
  Title: Group Chief Financial Officer

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 TIG Insurance Company
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Allied World National Assurance Company
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D 

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 Brit Syndicates Limited
   
  By: /s/ Gavin Wilkinson
  Name: Gavin Wilkinson
  Title: Group Chief Financial Officer

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 5, 2022 The North River Insurance Company
   
  By: /s/ Peter Clarke
  Name: Peter Clarke
  Title: Attorney-in-Fact pursuant to Power of Attorney attached to this Schedule 13D

 

 

 

 

Annex Index

 

Annex   Description
A   Directors and Executive Officers of The Second 810 Holdco Ltd.
B   Directors and Executive Officers of The Second 1109 Holdco Ltd.
C   Directors and Executive Officers of The Sixty Two Investment Company Limited
D   Directors and Executive Officers of 12002574 Canada Inc.
E   Directors and Executive Officers of Fairfax Financial Holdings Limited
F   Directors and Executive Officers of FFHL Group Ltd.
G   Directors and Executive Officers of Fairfax (Barbados) International Corp.
H   Directors and Executive Officers of Wentworth Insurance Company Ltd.
I   Directors and Executive Officers of The Sixty Three Foundation
J   Directors and Executive Officers of Fairfax (US) Inc.
K   Directors and Executive Officers of Odyssey US Holdings Inc.
L   Directors and Executive Officers of Odyssey Group Holdings, Inc.
M   Directors and Executive Officers of Odyssey Reinsurance Company
N   Directors and Executive Officers of Greystone Insurance Company
O   Directors and Executive Officers of Newline Holdings UK Limited
P   Directors and Executive Officers of Newline Corporate Name Limited
Q   Directors and Executive Officers of Hudson Insurance Company
R   Directors and Executive Officers of Hilltop Specialty Insurance Company
S   Directors and Executive Officers of Hudson Excess Insurance Company
T   Directors and Executive Officers of 1102952 B.C. Unlimited Liability Company
U   Directors and Executive Officers of Allied World Assurance Company Holdings, Ltd
V   Directors and Executive Officers of Allied World Assurance Company Holdings I, Ltd
W   Directors and Executive Officers of Allied World Assurance Company, Ltd
X   Directors and Executive Officers of Allied World Assurance Holdings (Ireland) Ltd
Y   Directors and Executive Officers of Allied World Assurance Holdings (U.S.) Inc.
Z   Directors and Executive Officers of Allied World Insurance Company
AA   Directors and Executive Officers of AW Underwriters Inc.
BB   Directors and Executive Officers of Allied World Specialty Insurance Company
CC   Directors and Executive Officers of Allied World Surplus Lines Insurance Company
DD   Directors and Executive Officers of Allied World Assurance Company, AG
EE   Directors and Executive Officers of Allied World Assurance Company (Europe) dac
FF   Directors and Executive Officers of Allied World Assurance Company (U.S.) Inc.
GG   Directors and Executive Officers of Crum & Forster Holdings Corp.
HH   Directors and Executive Officers of United States Fire Insurance Company
II   Directors and Executive Officers of Zenith National Insurance Corp.
JJ   Directors and Executive Officers of Zenith Insurance Company
KK   Directors and Executive Officers of Brit Limited
LL   Directors and Executive Officers of Brit Insurance Holdings Limited
MM   Directors and Executive Officers of Brit Reinsurance (Bermuda) Limited
NN   Directors and Executive Officers of Brit UW Limited
OO   Directors and Executive Officers of TIG Insurance Company
PP   Directors and Executive Officers of Allied World National Assurance Company
QQ   Directors and Executive Officers of Brit Syndicates Limited
RR   Directors and Executive Officers of The North River Insurance Company

 

 

 

 

ANNEX A

 

DIRECTORS AND EXECUTIVE OFFICERS OF

THE SECOND 810 HOLDCO LTD.

 

The following table sets forth certain information with respect to the directors and executive officers of The Second 810 Holdco Ltd.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Eric P. Salsberg
(Secretary)
  Vice President, Corporate Affairs and Corporate Secretary,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada
         
V. Prem Watsa
(President and Director)
  Chairman and Chief Executive Officer,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada

 

 

 

 

ANNEX B

 

DIRECTORS AND EXECUTIVE OFFICERS OF

THE SECOND 1109 HOLDCO LTD.

 

The following table sets forth certain information with respect to the directors and executive officers of The Second 1109 Holdco Ltd.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Eric P. Salsberg
(Secretary)
  Vice President, Corporate Affairs and Corporate Secretary,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada
         
V. Prem Watsa
(President and Director)
  Chairman and Chief Executive Officer,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada

 

 

 

 

ANNEX C

 

DIRECTORS AND EXECUTIVE OFFICERS OF

THE SIXTY TWO INVESTMENT COMPANY LIMITED

 

The following table sets forth certain information with respect to the directors and executive officers of The Sixty Two Investment Company Limited.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Eric P. Salsberg
(Secretary and Director)
  Vice President, Corporate Affairs and Corporate Secretary,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada
         
V. Prem Watsa
(President and Director)
  Chairman and Chief Executive Officer,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada

 

 

 

 

ANNEX D

 

DIRECTORS AND EXECUTIVE OFFICERS OF

12002574 CANADA INC.

 

The following table sets forth certain information with respect to the directors and executive officers of 12002574 Canada Inc.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Eric P. Salsberg
(Secretary)
  Vice President, Corporate Affairs and Corporate Secretary,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada
         
V. Prem Watsa
(President and Director)
  Chairman and Chief Executive Officer,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada

 

 

 

 

ANNEX E

 

DIRECTORS AND EXECUTIVE OFFICERS OF

FAIRFAX FINANCIAL HOLDINGS LIMITED

 

The following table sets forth certain information with respect to the directors and executive officers of Fairfax Financial Holdings Limited.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Benjamin Watsa
(Director)
  Founder and President,
Marval Capital Ltd.
77 King Street West, Suite 4545
Toronto, Ontario M5K 1K2
  Canada
         
Bradley P. Martin
(Vice President, Strategic Investments)
  Vice President, Strategic Investments,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada
         
Brandon W. Sweitzer
(Director)
  Dean, Maurice R. Greenberg School of Risk Management, Insurance and Actuarial Science,
St. John’s University
101 Murray Street, Suite 438
New York, New York 10007-2165
  United States
         

Byran Bailey

(Vice President, Tax)

 

Vice President, Tax

Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7

  Canada
         
Christine N. McLean
(Director)
  Corporate Director,
Fairfax Financial Holdings Limited,
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada
         
David Johnston
(Director)
  Corporate Director,
Ottawa, Canada
  Canada
         
Eric P. Salsberg
(Vice President, Corporate Affairs and Corporate Secretary)
  Vice President, Corporate Affairs and Corporate Secretary,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada
         
Jean Cloutier
(Vice President, International Operations)
  Vice President, International Operations,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada

 

 

 

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Jennifer Allen
(Vice President and Chief Financial Officer)
  Vice President and Chief Financial Officer,
Fairfax Financial Holdings Limited
95 Wellington Street West,
Suite 800
Toronto, Ontario M5J 2N7
  Canada
         
John Varnell
(Vice President, Corporate Development)
  Vice President, Corporate Development,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada
         
Karen L. Jurjevich
(Director)
  Principal, Branksome Hall and Chief Executive Officer and Principal,
Branksome Hall Global
10 Elm Avenue
Toronto, Ontario M4W 1N4
  Canada
         
Lauren C. Templeton
(Director)
  Founder and President,
Templeton and Phillips Capital Management, LLC
810 Scenic Highway
Lookout Mountain, TN, USA 37350
  United States
         
Michael Wallace
(Vice President, Insurance Operations)
  Vice President, Insurance Operations
Fairfax Financial Holdings Limited,
95 Wellington Street West,
Suite 800
Toronto ON  M5J 2N7
  Canada
         
Olivier Quesnel
(Vice President and Chief Actuary)
  Vice President and Chief Actuary,
Fairfax Financial Holdings Limited,
95 Wellington Street West,
Suite 800
Toronto ON  M5J 2N7
  Canada
         
Peter Clarke
(President and Chief Operating Officer)
  President and Chief Operating Officer,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada
         
R. William McFarland
(Director)
  Corporate Director,
Fairfax Financial Holdings Limited
95 Wellington Street West,
Suite 800
Toronto, Ontario M5J 2N
  Canada
         
Robert J. Gunn
(Director)
  Independent Business Consultant and Corporate Director,
Toronto, Ontario, Canada
  Canada

 

 

 

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Timothy R. Price
(Director)
  Chairman of Brookfield Funds,
Brookfield Asset Management Inc.
c/o Edper Financial Group
51 Yonge Street, Suite 400
Toronto, ON M5E 1J1
  Canada
         
V. Prem Watsa
(Chairman and Chief Executive Officer)
  Chairman and Chief Executive Officer,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada
         
Vinodh Loganadham
(Vice President, Administrative Services)
  Vice President, Administrative Services,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada
         
William Weldon
(Director)
  Independent Business Consultant,
Florida, United States
  United States

 

 

 

 

ANNEX F

 

DIRECTORS AND EXECUTIVE OFFICERS OF

FFHL GROUP LTD.

 

The following table sets forth certain information with respect to the directors and executive officers of FFHL Group Ltd.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Bradley P. Martin
(Vice President and Secretary)
  Vice President, Strategic Investments,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada
         
Eric P. Salsberg
(Vice President and Director)
  Vice President, Corporate Affairs and Corporate Secretary,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada
         
Jennifer Allen
(Vice President and Director)
  Vice President and Chief Financial Officer,
Fairfax Financial Holdings Limited
95 Wellington Street West,
Suite 800
Toronto, Ontario M5J 2N7
  Canada
         
Peter Clarke
(President and Director)
  President and Chief Operating Officer,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada
         
V. Prem Watsa
(President and Chief Executive Officer and Director)
  Chairman and Chief Executive Officer,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada

 

 

 

 

ANNEX G

 

DIRECTORS AND EXECUTIVE OFFICERS OF

FAIRFAX (BARBADOS) INTERNATIONAL CORP.

 

The following table sets forth certain information with respect to the directors and executive officers of Fairfax (Barbados) International Corp.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Alistair Dent
(Director)
  Director,
Wentworth Insurance Company Ltd.
Pine Commercial Centre
#12 Pine Commercial Centre
The Pine, St. Michael
  United Kingdom
         
Janice Burke
(Managing Director)
  Managing Director,
Wentworth Insurance Company Ltd.
Pine Commercial Centre
#12 Pine Commercial Centre
The Pine, St. Michael
  United States
         
Jean Cloutier
(Director)
  Vice President, International Operations,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario, M5J 2N7
  Canada
         
Lisl Lewis
(Director)
  Director,
Wentworth Insurance Company Ltd.
Pine Commercial Centre
#12 Pine Commercial Centre
The Pine, St. Michael
  Barbados
         
Niall Tully
(Vice President and Chief Financial Officer)
  Vice President and Chief Financial Officer,
ffh Management Services
First Floor 25-28
Adelaide Road
Dublin 2
  Ireland
         
Paul Mulvin
(Vice President)
  Vice President,
ffh Management Services
First Floor 25-28
Adelaide Road
Dublin 2
  Ireland
         
Paula Alleyne
(Senior Manager, Treasury & Financial Reporting)
  Senior Manager Treasury & Financial Reporting,
Wentworth Insurance Company Ltd.
Pine Commercial Centre
#12 Pine Commercial Centre
The Pine, St. Michael
  Barbados

 

 

 

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Simon P.G. Lee
(Director)
  Director,
Wentworth Insurance Company Ltd.
Pine Commercial Centre
#12 Pine Commercial Centre
The Pine, St. Michael
  United Kingdom
         
William P. Douglas
(Director)
  Director,
Wentworth Insurance Company Ltd.
Pine Commercial Centre
#12 Pine Commercial Centre
The Pine, St. Michael
  Barbados

 

 

 

 

 

 

 

 

ANNEX H

 

DIRECTORS AND EXECUTIVE OFFICERS OF

WENTWORTH INSURANCE COMPANY LTD.

 

The following table sets forth certain information with respect to the directors and executive officers of Wentworth Insurance Company Ltd.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Alistair Dent
(Director)
  Director,
Wentworth Insurance Company Ltd.
Pine Commercial Centre
#12 Pine Commercial Centre
The Pine, St. Michael
  United Kingdom
         
Janice Burke
(Managing Director)
  Managing Director,
Wentworth Insurance Company Ltd.
Pine Commercial Centre
#12 Pine Commercial Centre
The Pine, St. Michael
  United States
         
Jean Cloutier
(Director)
  Vice President, International Operations,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario, M5J 2N7
  Canada
         
Lisl Lewis
(Director)
  Director,
Wentworth Insurance Company Ltd.
Pine Commercial Centre
#12 Pine Commercial Centre
The Pine, St. Michael
  Barbados
         
Niall Tully
(Vice President and Chief Financial Officer)
  Vice President and Chief Financial Officer,
ffh Management Services
First Floor 25-28
Adelaide Road
Dublin 2
  Ireland
         
Paul Mulvin
(Vice President)
  Vice President,
ffh Management Services
First Floor 25-28
Adelaide Road
Dublin 2
  Ireland
         
Paula Alleyne
(Senior Manager, Treasury & Financial Reporting)
  Senior Manager Treasury & Financial Reporting,
Wentworth Insurance Company Ltd.
Pine Commercial Centre
#12 Pine Commercial Centre
The Pine, St. Michael
  Barbados

 

 

 

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Sammy S.Y. Chan
(Vice President)
  Vice President,
Fairfax Asia Limited
41/F Hopewell Centre
183 Queen’s Road East
Room 411, Wanchai
  Canada
         
William P. Douglas
(Director)
  Director,
Wentworth Insurance Company Ltd.
Pine Commercial Centre
#12 Pine Commercial Centre
The Pine, St. Michael
  Barbados

 

 

 

 

ANNEX I

 

DIRECTORS AND EXECUTIVE OFFICERS OF

THE SIXTY THREE FOUNDATION

 

The following table sets forth certain information with respect to the directors and executive officers of The Sixty Three Foundation.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Anthony F. Griffiths
(Director)
  Independent Business Consultant,
Toronto, Ontario, Canada
  Canada
         
Eric P. Salsberg
(Director)
  Vice President, Corporate Affairs and Corporate Secretary,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada
         
V. Prem Watsa
(Director)
  Chairman and Chief Executive Officer,
Fairfax Financial Holdings Limited
95 Wellington Street West,
Suite 800
Toronto, Ontario M5J 2N7
  Canada

 

 

 

 

ANNEX J

 

DIRECTORS AND EXECUTIVE OFFICERS OF

FAIRFAX (US) INC.

 

The following table sets forth certain information with respect to the directors and executive officers of Fairfax (US) Inc.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Eric P. Salsberg
(Chairman, Vice President and Director)
  Vice President, Corporate Affairs and Corporate Secretary,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada
         
Melody A. Spencer (Vice President, Treasurer and Director)  

Vice President, Treasurer and Director,

Fairfax (US) Inc.

2850 Lake Vista Drive, Ste. 150

Lewisville, Texas 75067

  United States
         
Sonja Lundy
(Director, President, Chief Executive Officer and Secretary)
  Director, President, Chief Executive Officer and Secretary,
Fairfax (US) Inc.
2850 Lake Vista Drive, Ste. 150
Lewisville, Texas 75067
  United States

 

 

 

 

ANNEX K

 

DIRECTORS AND EXECUTIVE OFFICERS OF

ODYSSEY US HOLDINGS INC.

 

The following table sets forth certain information with respect to the directors and executive officers of Odyssey US Holdings Inc.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Brian D. Young
(Chairman of the Board of Directors, President and Chief Executive Officer)
  President, Chief Executive Officer, and Director,
Odyssey Group Holdings, Inc.
300 First Stamford Place
Stamford, Connecticut 06902
  United States
         
Elizabeth A. Sander
(Executive Vice President, Corporate Secretary, and Director)
  Executive Vice President and Chief Actuary,
Odyssey Group Holdings, Inc.
300 First Stamford Place
Stamford, Connecticut 06902
  United States
         
Jan Christiansen
(Executive Vice President, Chief Financial Officer, Controller and Director)
  Executive Vice President and Chief Financial Officer,
Odyssey Group Holdings, Inc.
300 First Stamford Place
Stamford, Connecticut 06902
  Denmark

 

 

 

 

ANNEX L

 

DIRECTORS AND EXECUTIVE OFFICERS OF

ODYSSEY GROUP HOLDINGS, INC.

 

The following table sets forth certain information with respect to the directors and executive officers of Odyssey Group Holdings, Inc.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Andrew A. Barnard
(Chairman of the Board)
  President and Chief Operating Officer,
Fairfax Insurance Group
100 William Street, 5th Floor
New York, New York 10038
  United States
         
Brandon W. Sweitzer
(Director)
  Dean, Maurice R. Greenberg School of Risk Management, Insurance and Actuarial Science,
St. John’s University
101 Murray Street, Suite 438
New York, New York 10007-2165
  United States
         
Brian D. Young
(President, Chief Executive Officer and Director)
  President, Chief Executive Officer, and Director,
Odyssey Group Holdings, Inc.
300 First Stamford Place
Stamford, Connecticut 06902
  United States
         
Elizabeth A. Sander
(Executive Vice President and Chief Actuary)
  Executive Vice President and Chief Actuary,
Odyssey Group Holdings, Inc.
300 First Stamford Place
Stamford, Connecticut 06902
  United States
         
Jan Christiansen
(Executive Vice President and Chief Financial Officer)
  Executive Vice President and Chief Financial Officer,
Odyssey Group Holdings, Inc.
300 First Stamford Place
Stamford, Connecticut 06902
  Denmark
         
Jennifer Allen
(Director)
  Vice President and Chief Financial Officer,
Fairfax Financial Holdings Limited
95 Wellington Street West,
Suite 800
Toronto, Ontario M5J 2N7
  Canada
         
Peter Clarke
(Director)
  President and Chief Operating Officer,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada
         
Peter H. Lovell
(Executive Vice President, General Counsel and Corporate Secretary)
  Executive Vice President, General Counsel and Corporate Secretary,
Odyssey Group Holdings, Inc.
300 First Stamford Place
Stamford, Connecticut 06902
  United States

 

 

 

 

ANNEX M

 

DIRECTORS AND EXECUTIVE OFFICERS OF

ODYSSEY REINSURANCE COMPANY

 

The following table sets forth certain information with respect to the directors and executive officers of Odyssey Reinsurance Company.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Alane R. Carey
(Executive Vice President)
  Executive Vice President and Global Marketing Director,
Odyssey Reinsurance Company
300 First Stamford Place
Stamford, Connecticut 06902
  United States
         
Brian D. Quinn
(Executive Vice President)
  Executive Vice President,
Odyssey Reinsurance Company
300 First Stamford Place,
Stamford, Connecticut 06902
  United States
         
Brian D. Young
(Chairman, President and Chief Executive Officer)
  President, Chief Executive Officer, and Director,
Odyssey Group Holdings, Inc.
300 First Stamford Place
Stamford, Connecticut 06902
  United States
         
Carl A. Overy
(Executive Vice President)
  Chief Executive Officer, London Market Division,
Newline Underwriting Management Limited
1 Fen Court, London, England, EC3M 5BN
  United Kingdom
         
Elizabeth A. Sander
(Executive Vice President, Chief Actuary and Director)
  Executive Vice President and Chief Actuary,
Odyssey Group Holdings, Inc.
300 First Stamford Place
Stamford, Connecticut 06902
  United States
         
Isabelle Dubots-Lafitte
(Executive Vice President)
  Chief Executive Officer, EMEA,
Odyssey Reinsurance Company
14 Rue Du 4 Septembre
75002 Paris France
  United States
         
Jan Christiansen
(Executive Vice President and Director)
  Executive Vice President and Chief Financial Officer,
Odyssey Group Holdings, Inc.
300 First Stamford Place
Stamford, Connecticut 06902
  Denmark
         
Joseph A. Guardo
(Executive Vice President)
  Executive Vice President,
Odyssey Reinsurance Company
300 First Stamford Place
Stamford, Connecticut 06902
  United States
         
Lucien Pietropoli
(Executive Vice President)
  Chief Executive Officer, Asia Pacific,
Odyssey Reinsurance Company
1 Finlayson Green #17-00
Singapore 049246
  France

 

 

 

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Peter H. Lovell
(Executive Vice President, General Counsel and Corporate Secretary)
  Executive Vice President, General Counsel and Corporate Secretary,
Odyssey Group Holdings, Inc.
300 First Stamford Place
Stamford, Connecticut 06902
  United States
         
Philippe Mallier
(Executive Vice President)
  Chief Executive Officer, Latin America
Odyssey Reinsurance Company
300 First Stamford Place
Stamford, Connecticut 06902
  France

 

 

 

 

ANNEX N

 

DIRECTORS AND EXECUTIVE OFFICERS OF

GREYSTONE INSURANCE COMPANY

 

The following table sets forth certain information with respect to the directors and executive officers of Greystone Insurance Company.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Christopher L. Gallagher
(Chief Executive Officer, President, and Chairman of the Board of Directors)
  Chief Executive Officer, President, and Chairman of the Board of Directors,
Hudson Insurance Company
100 William St., 5th Floor
New York, New York 10038
  United States
         
Elizabeth A. Sander
(Executive Vice President, Chief Actuary and Director)
  Executive Vice President and Chief Actuary,
Odyssey Group Holdings, Inc.
300 First Stamford Place
Stamford, Connecticut 06902
  United States
         
Jan Christiansen
(Director and Executive Vice President)
  Executive Vice President and Chief Financial Officer,
Odyssey Group Holdings, Inc.
300 First Stamford Place
Stamford, Connecticut 06902
  Denmark

 

 

 

 

ANNEX O

 

DIRECTORS AND EXECUTIVE OFFICERS OF

NEWLINE HOLDINGS UK LIMITED

 

The following table sets forth certain information with respect to the directors and executive officers of Newline Holdings UK Limited.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship

Henry J. L. Withinshaw
(Company Secretary)

 

  Chief Operating Officer,
Newline Underwriting Management Limited
1 Fen Court, London, England, EC3M 5BN
  United Kingdom
         
Alane R. Carey
(Non-Executive Director and Chairman of the Board of Directors)
  Executive Vice President and Global Marketing Director,
Odyssey Reinsurance Company
300 First Stamford Place
Stamford, Connecticut 06902
  United States
         
Jan Christiansen
(
Non-Executive Director)
  Executive Vice President and Chief Financial Officer,
Odyssey Group Holdings, Inc.
300 First Stamford Place
Stamford, Connecticut 06902
  Denmark
         

Sonny Kapur

(Director)

  Chief Financial Officer,
Newline Underwriting Management Limited
1 Fen Court, London, England, EC3M 5BN
  United Kingdom
         
Robert B. Kastner
(Director)
  Head of Claims,
Newline Underwriting Management Limited
1 Fen Court, London, England, EC3M 5BN
  United Kingdom

 

 

 

 

ANNEX P

 

DIRECTORS AND EXECUTIVE OFFICERS OF

NEWLINE CORPORATE NAME LIMITED

 

The following table sets forth certain information with respect to the directors and executive officers of Newline Corporate Name Limited.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Alane R. Carey
(Non-Executive Director and Chairman of the Board of Directors)
  Executive Vice President and Global Marketing Director,
Odyssey Reinsurance Company
300 First Stamford Place
Stamford, Connecticut 06902
  United States
         
Henry J. L. Withinshaw
(Director and Company Secretary)
  Chief Operating Officer,
Newline Underwriting Management Limited
1 Fen Court, London, England, EC3M 5BN
  United Kingdom
         
Jan Christiansen
(
Non-Executive Director)
  Executive Vice President and Chief Financial Officer,
Odyssey Group Holdings, Inc.
300 First Stamford Place
Stamford, Connecticut 06902
  Denmark
         

Sonny Kapur

(Director)

  Chief Financial Officer,
Newline Underwriting Management Limited
1 Fen Court, London, England, EC3M 5BN
  United Kingdom

 

 

 

 

ANNEX Q

 

DIRECTORS AND EXECUTIVE OFFICERS OF

HUDSON INSURANCE COMPANY

 

The following table sets forth certain information with respect to the directors and executive officers of Hudson Insurance Company.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Alane R. Carey
(Executive Vice President)
  Executive Vice President and Global Marketing Director,
Odyssey Reinsurance Company
300 First Stamford Place
Stamford, Connecticut 06902
  United States
         
Christopher L. Gallagher
(Chief Executive Officer, President, and Chairman of the Board of Directors)
  Chief Executive Officer, President, and Chairman of the Board of Directors,
Hudson Insurance Company
100 William St., 5th Floor
New York, New York 10038
  United States
         
Elizabeth A. Sander
(Executive Vice President, Chief Actuary and Director)
  Executive Vice President and Chief Actuary,
Odyssey Group Holdings, Inc.
300 First Stamford Place
Stamford, Connecticut 06902
  United States
         
Jan Christiansen
(Director and Executive Vice President)
  Executive Vice President and Chief Financial Officer,
Odyssey Group Holdings, Inc.
300 First Stamford Place
Stamford, Connecticut 06902
  Denmark
         
Michael P. Cifone
(Senior Vice President, Senior Operations Officer and Director)
  Senior Vice President, Senior Operations Officer and Director,
Hudson Insurance Company
100 William St., 5th Floor
New York, New York 10038
  United States
         
Rory A. Rose
(Senior Vice President and Chief Financial Officer)
  Senior Vice President and Chief Financial Officer,
Hudson Insurance Company

100 William St., 5th Floor
New York, New York 10038
  United States
         
Margaret M.C. Killeen
(Senior Vice President, Chief Claims Officer, and Director)
  Senior Vice President and Chief Claims Officer,
Hudson Insurance Company

100 William St., 5th Floor
New York, New York 10038
  United States
         
Leslie Shore
(Senior Vice President, Chief Actuary and Director)
  Senior Vice President and Chief Actuary,
Hudson Insurance Company

100 William St., 5th Floor
New York, New York 10038
  United States

 

 

 

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship

Jean-Raymond Kingsley

(Director)

 

Senior Vice President, Chief Agent (Canada)

2001 Blvd. Robert Bourassa, Suite 1700

Montreal, Quebec H3A 2A6

  Canada

 

 

 

 

ANNEX R

 

DIRECTORS AND EXECUTIVE OFFICERS OF

HILLTOP SPECIALTY INSURANCE COMPANY

 

The following table sets forth certain information with respect to the directors and executive officers of Hilltop Specialty Insurance Company.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Alane R. Carey
(Executive Vice President)
  Executive Vice President and Global Marketing Director,
Odyssey Reinsurance Company
300 First Stamford Place
Stamford, Connecticut 06902
  United States
         
Christopher L. Gallagher
(Chief Executive Officer, President, and Chairman of the Board of Directors)
  Chief Executive Officer, President, and Chairman of the Board of Directors,
Hudson Insurance Company
100 William St., 5th Floor
New York, New York 10038
  United States
         
Elizabeth A. Sander
(Executive Vice President, Chief Actuary and Director)
  Executive Vice President and Chief Actuary,
Odyssey Group Holdings, Inc.
300 First Stamford Place
Stamford, Connecticut 06902
  United States
         
Jan Christiansen
(Director and Executive Vice President)
  Executive Vice President and Chief Financial Officer,
Odyssey Group Holdings, Inc.
300 First Stamford Place
Stamford, Connecticut 06902
  Denmark
         
Peter H. Lovell
(Executive Vice President and Director)
  Executive Vice President, General Counsel and Corporate Secretary,
Odyssey Group Holdings, Inc.
300 First Stamford Place
Stamford, Connecticut 06902
  United States
         
Michael P. Cifone
(Senior Vice President and Director)
  Senior Vice President, Senior Operations Officer and Director,
Hudson Insurance Company
100 William St., 5th Floor
New York, New York 10038
  United States
         
Margaret M.C. Killeen
(Senior Vice President and Director)
  Senior Vice President and Chief Claims Officer,
Hudson Insurance Company

100 William St., 5th Floor
New York, New York 10038
  United States
         
Leslie Shore
(Senior Vice President and Director)
  Senior Vice President and Chief Actuary,
Hudson Insurance Company

100 William St., 5th Floor
New York, New York 10038
  United States

 

 

 

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship

Rory A. Rose

(Director)

 

Senior Vice President and Chief Financial Officer

Hudson Insurance Company

100 William St., 5th Floor
New York, New York 10038

  United States

 

 

 

 

ANNEX S

 

DIRECTORS AND EXECUTIVE OFFICERS OF

HUDSON EXCESS INSURANCE COMPANY

 

The following table sets forth certain information with respect to the directors and executive officers of Hudson Excess Company.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Christopher L. Gallagher
(Chief Executive Officer, President, and Chairman of the Board of Directors)
  Chief Executive Officer, President, and Chairman of the Board of Directors,
Hudson Insurance Company
100 William St., 5th Floor
New York, New York 10038
  United States
         
Elizabeth A. Sander
(Executive Vice President, Chief Actuary and Director)
  Executive Vice President and Chief Actuary,
Odyssey Group Holdings, Inc.
300 First Stamford Place
Stamford, Connecticut 06902
  United States
         
Jan Christiansen
(Director and Executive Vice President)
  Executive Vice President and Chief Financial Officer,
Odyssey Group Holdings, Inc.
300 First Stamford Place
Stamford, Connecticut 06902
  Denmark

 

 

 

 

ANNEX T

 

DIRECTORS AND EXECUTIVE OFFICERS OF

1102952 B.C. UNLIMITED LIABILITY COMPANY

 

The following table sets forth certain information with respect to the directors and executive officers of 1102952 B.C. Unlimited Liability Company.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
John Varnell
(Director)
  Vice President, Corporate Development,
Fairfax Financial Holdings Limited
95 Wellington Street West,
Suite 800
Toronto, Ontario M5J 2N7
  Canada

 

 

 

 

ANNEX U

 

DIRECTORS AND EXECUTIVE OFFICERS OF

ALLIED WORLD ASSURANCE COMPANY HOLDINGS, LTD

 

The following table sets forth certain information with respect to the directors and executive officers of Allied World Assurance Company Holdings, Ltd.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Graham Collis
(Director)
  Retired   Bermuda
         
Jean Cloutier
(Director)
  Vice President, International Operations,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada
         
Ken Miner
(Director)
  EVP & Global Head, Capital Markets,
OMERS Administration Corporation
Royal Bank Plaza, North Tower
200 Bay Street, Suite 2300, PO Box 92
Toronto, Ontario M5J 2J2
  Canada
         
Louis Iglesias
(Chairman of the Board of Directors, President & Chief Executive Officer)
  Chairman of the Board of Directors, President & Chief Executive Officer,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Michael McCrimmon
(Director and Vice Chairman)
  Director and Vice Chairman,
Allied World Assurance Company Holdings I, Ltd
27 Richmond Road
Pembroke HM 08
Bermuda
  Canada
         
Scott Hunter
(Director)
  Retired   Bermuda

 

 

 

 

ANNEX V

 

DIRECTORS AND EXECUTIVE OFFICERS OF

ALLIED WORLD ASSURANCE COMPANY HOLDINGS I, LTD

 

The following table sets forth certain information with respect to the directors and executive officers of Allied World Assurance Company Holdings I, Ltd.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Colm Singleton
(Head of Bermuda Office; Executive Vice President, Head of Bermuda and Global Markets Claims Group)
  Head of Bermuda Office; Executive Vice President, Head of Bermuda and Global Markets Claims Group,
Allied World Assurance Company Holdings I, Ltd
27 Richmond Road
Pembroke HM 08
Bermuda
  Bermuda
         
Louis Iglesias
(Director)
  Chairman of the Board of Directors, President & Chief Executive Officer,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Michael McCrimmon
(Director and Vice Chairman)
  Director and Vice Chairman,
Allied World Assurance Company Holdings I, Ltd
27 Richmond Road
Pembroke HM 08
Bermuda
  Canada
         
Wesley Dupont
(Director)
  Chief Operating Officer,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States

 

 

 

 

ANNEX W

 

DIRECTORS AND EXECUTIVE OFFICERS OF

ALLIED WORLD ASSURANCE COMPANY, LTD

 

The following table sets forth certain information with respect to the directors and executive officers of Allied World Assurance Company, Ltd.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Colm Singleton
(Head of Bermuda Office; Executive Vice President, Head of Bermuda and Global Markets Claims Group)
  Head of Bermuda Office; Executive Vice President, Head of Bermuda and Global Markets Claims Group,
Allied World Assurance Company Holdings I, Ltd
27 Richmond Road
Pembroke HM 08
Bermuda
  Bermuda
         
John Bender
(Director)
  CEO, Global Reinsurance,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Louis Iglesias
(Director)
  Chairman of the Board of Directors, President & Chief Executive Officer,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Michael McCrimmon
(Director and Vice Chairman)
  Director and Vice Chairman,
Allied World Assurance Company Holdings I, Ltd
27 Richmond Road
Pembroke HM 08
Bermuda
  Canada
         
Wesley Dupont
(Director)
  Chief Operating Officer,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States

 

 

 

 

ANNEX X

 

DIRECTORS AND EXECUTIVE OFFICERS OF

ALLIED WORLD ASSURANCE HOLDINGS (IRELAND) LTD

 

The following table sets forth certain information with respect to the directors and executive officers of Allied World Assurance Holdings (Ireland) Ltd.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Jim O’Mahoney
(Director)
  Retired   Ireland
         
Lee Dwyer
(Director and President)
  Director and President,
Allied World Assurance Holdings (Ireland) Ltd
3rd Floor, Georges Quay Plaza
Georges Quay
Dublin 2
  United Kingdom
         
Sean Hehir
(Director)
  Retired   Ireland
         
Wesley Dupont
(Director)
  Chief Operating Officer,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States

 

 

 

 

 

 

 

ANNEX Y

 

DIRECTORS AND EXECUTIVE OFFICERS OF

ALLIED WORLD ASSURANCE HOLDINGS (U.S.) INC.

 

The following table sets forth certain information with respect to the directors and executive officers of Allied World Assurance Holdings (U.S.) Inc.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
John Bender
(Director and CEO, Global Reinsurance)
  CEO, Global Reinsurance,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Louis Iglesias
(Director and President & Chief Executive Officer)
  Chairman of the Board of Directors, President & Chief Executive Officer,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Wesley Dupont
(Director and Chief Operating Officer)
  Chief Operating Officer,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States

 

 

 

 

 

 

 

ANNEX Z

 

DIRECTORS AND EXECUTIVE OFFICERS OF

ALLIED WORLD INSURANCE COMPANY

 

The following table sets forth certain information with respect to the directors and executive officers of Allied World Insurance Company.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Christian Gravier
(President, North America Professional Lines)
  President, North America Professional Lines,
Allied World Insurance Company
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
John Bender
(Director)
  CEO, Global Reinsurance,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Joseph Cellura
(President, North America Casualty)
  President, North America Casualty,
Allied World Insurance Company
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Kevin Marine
(President & Chief Underwriting Officer, Global Reinsurance)
  President & Chief Underwriting Officer, Global Reinsurance,
Allied World Insurance Company
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Louis Iglesias
(Director)
  Chairman of the Board of Directors, President & Chief Executive Officer,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Robert Bowden
(Executive Vice President, Global Insurance)
  Executive Vice President, Global Insurance,
Allied World Insurance Company
550 Hope Street, Suite 1825
Los Angeles, CA 90071
  United States
         
Wesley Dupont
(Director)
  Chief Operating Officer,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States

 

 

 

 

 

 

 

ANNEX AA

 

DIRECTORS AND EXECUTIVE OFFICERS OF

AW UNDERWRITERS INC.

 

The following table sets forth certain information with respect to the directors and executive officers of AW Underwriters Inc.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Christian Gravier
(President, North America Professional Lines)
  President, North America Professional Lines,
Allied World Insurance Company
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
John Bender
(Director)
  CEO, Global Reinsurance,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Joseph Cellura
(President, North America Casualty)
  President, North America Casualty,
Allied World Insurance Company
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Louis Iglesias
(Director)
  Chairman of the Board of Directors, President & Chief Executive Officer,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Robert Bowden
(Executive Vice President, Global Insurance)
  Executive Vice President, Global Insurance,
Allied World Insurance Company
550 Hope Street, Suite 1825
Los Angeles, CA 90071
  United States
         
Wesley Dupont
(Director)
  Chief Operating Officer,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States

 

 

 

 

 

 

 

ANNEX BB

 

DIRECTORS AND EXECUTIVE OFFICERS OF

ALLIED WORLD SPECIALTY INSURANCE COMPANY

 

The following table sets forth certain information with respect to the directors and executive officers of Allied World Specialty Insurance Company.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Christian Gravier
(President, North America Professional Lines)
  President, North America Professional Lines,
Allied World Insurance Company
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
John Bender
(Director)
  CEO, Global Reinsurance,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Joseph Cellura
(President, North America Casualty)
  President, North America Casualty,
Allied World Insurance Company
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Louis Iglesias
(Director)
  Chairman of the Board of Directors, President & Chief Executive Officer,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Robert Bowden
(Executive Vice President, Global Insurance)
  Executive Vice President, Global Insurance,
Allied World Insurance Company
550 Hope Street, Suite 1825
Los Angeles, CA 90071
  United States
         
Wesley Dupont
(Director)
  Chief Operating Officer,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States

 

 

 

 

 

 

 

ANNEX CC

 

DIRECTORS AND EXECUTIVE OFFICERS OF

ALLIED WORLD SURPLUS LINES INSURANCE COMPANY

 

The following table sets forth certain information with respect to the directors and executive officers of Allied World Surplus Lines Insurance Company.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Christian Gravier
(President, North America Professional Lines)
  President, North America Professional Lines,
Allied World Insurance Company
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
John Bender
(Director)
  CEO, Global Reinsurance,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Joseph Cellura
(President, North America Casualty)
  President, North America Casualty,
Allied World Insurance Company
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Louis Iglesias
(Director)
  Chairman of the Board of Directors, President & Chief Executive Officer,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Robert Bowden
(Executive Vice President, Global Insurance)
  Executive Vice President, Global Insurance,
Allied World Insurance Company
550 Hope Street, Suite 1825
Los Angeles, CA 90071
  United States
         
Wesley Dupont
(Director)
  Chief Operating Officer,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States

 

 

 

 

 

 

 

ANNEX DD

 

DIRECTORS AND EXECUTIVE OFFICERS OF

ALLIED WORLD ASSURANCE COMPANY, AG

 

The following table sets forth certain information with respect to the directors and executive officers of Allied World Assurance Company, AG.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
John Bender
(Director)
  CEO, Global Reinsurance,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Marie-Laure Queneuder
(Managing Director & Chief Underwriting Officer)
  Managing Director & Chief Underwriting Officer,
Allied World Assurance Company, AG
Park Tower 15th Floor
Gubelstrasse 24
6300 Zug, Switzerland
  Switzerland
         
Martin Frey
(Director)
  Partner,
Baker & McKenzie Zurich
Holbeinstrasse 30
8034 Zurich
Switzerland
  Switzerland
         
Wesley Dupont
(Director)
  Chief Operating Officer,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States

 

 

 

 

 

 

 

ANNEX EE

 

DIRECTORS AND EXECUTIVE OFFICERS OF

ALLIED WORLD ASSURANCE COMPANY (EUROPE) DAC

 

The following table sets forth certain information with respect to the directors and executive officers of Allied World Assurance Company (Europe) dac.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Darren Jacobs
(Chief Underwriting Officer, Global Markets Division)
  Senior Vice President, Chief Underwriting Officer,
Allied World Managing Agency Limited
19th Floor, 20 Fenchurch Street
London EC3M 3BY
United Kingdom
  United Kingdom
         
Jim O’Mahoney
(Director)
  Retired   Ireland
         
Lee Dwyer
(Director and Managing Director)
  Director and President,
Allied World Assurance Holdings (Ireland) Ltd.
3rd Floor, Georges Quay Plaza
Georges Quay
Dublin 2
Ireland
  United Kingdom
         
Michael Stalley
(Director)
  Retired   United Kingdom
         
Neil Macmillan
(Director)
  Retired   United Kingdom
         
Peter Ford
(Executive Vice President, Head of European Insurance Division)
  Executive Vice President, Head of European Insurance Division,
Allied World Managing Agency Limited
19th Floor, 20 Fenchurch Street
London EC3M 3BY
United Kingdom
  United States
         
Sean Hehir
(Director)
  Retired   Ireland

 

 

 

 

 

ANNEX FF

 

DIRECTORS AND EXECUTIVE OFFICERS OF

ALLIED WORLD ASSURANCE COMPANY (U.S.) INC.

 

The following table sets forth certain information with respect to the directors and executive officers of Allied World Assurance Company (U.S.) Inc.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Christian Gravier
(President, North America Professional Lines)
  President, North America Professional Lines,
Allied World Insurance Company
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
John Bender
(Director)
  CEO, Global Reinsurance,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Joseph Cellura
(President, North America Casualty)
  President, North America Casualty,
Allied World Insurance Company
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Louis Iglesias
(Director)
  Chairman of the Board of Directors, President & Chief Executive Officer,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Robert Bowden
(Executive Vice President, Global Insurance)
  Executive Vice President, Global Insurance,
Allied World Insurance Company
550 Hope Street, Suite 1825
Los Angeles, CA 90071
  United States
         
Wesley Dupont
(Director)
  Chief Operating Officer,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States

 

 

 

 

 

 

 

ANNEX GG

 

DIRECTORS AND EXECUTIVE OFFICERS OF

CRUM & FORSTER HOLDINGS CORP.

 

The following table sets forth certain information with respect to the directors and executive officers of Crum & Forster Holdings Corp.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Alejandro Morales
(Director)
  Senior Vice President,
United States Fire Insurance Company
305 Madison Avenue
Morristown, NJ 07962
  United States
         
Andrew A. Barnard
(Director)
  President and Chief Operating Officer,
Fairfax Insurance Group
100 William Street, 5th Floor
New York, New York 10038
  United States
         
Arleen A. Paladino
(Executive Vice President, Chief Financial Officer, Treasurer and Director)
  Executive Vice President, Chief Financial Officer and Treasurer,
Crum & Forster Holdings Corp.
305 Madison Avenue
Morristown, NJ 07962
  United States
         
Jennifer Allen
(Director)
  Vice President and Chief Financial Officer,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada
         
Marc J. Adee
(President, Chief Executive Officer, Chairman and Director)
  President and Chief Executive Officer,
Crum & Forster Holdings Corp. and various other insurance subsidiaries,
305 Madison Avenue
Morristown, NJ 07962
  United States
         
Michael P. McTigue
(Secretary)
  Senior Vice President, General Counsel and Secretary,
United States Fire Insurance Company
305 Madison Avenue
Morristown, NJ 07962
  United States
         
Olivier Quesnel
(Director)
  Vice President and Chief Actuary,
Fairfax Financial Holdings Limited,
95 Wellington Street West,
Suite 800
Toronto ON  M5J 2N7
  Canada
         
Peter Clarke
(Director)
  President and Chief Operating Officer,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada

 

 

 

 

ANNEX HH

 

DIRECTORS AND EXECUTIVE OFFICERS OF

UNITED STATES FIRE INSURANCE COMPANY

 

The following table sets forth certain information with respect to the directors and executive officers of United States Fire Insurance Company.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Alejandro Morales
(Senior Vice President and Director)
  Senior Vice President,
United States Fire Insurance Company
305 Madison Avenue
Morristown, NJ 07962
  United States
         
Arleen A. Paladino
(Senior Vice President, Chief Financial Officer and Director)
  Executive Vice President, Chief Financial Officer and Treasurer,
Crum & Forster Holdings Corp.
305 Madison Avenue
Morristown, NJ 07962
  United States
         
Carmine Scaglione
(Senior Vice President and Controller)
  Senior Vice President and Controller,
United States Fire Insurance Company
305 Madison Avenue
Morristown, NJ 07962
  United States
         
George R. French
(Treasurer and Vice President)
  Treasurer and Vice President,
United States Fire Insurance Company
305 Madison Avenue
Morristown, NJ 07962
  United States
         
Marc J. Adee
(President, Chief Executive Officer, Chairman and Director)
  President,Chief Executive Officer and Chairman
Crum & Forster Holdings Corp. and various other insurance subsidiaries,
305 Madison Avenue
Morristown, NJ 07962
  United States
         
Michael P. McTigue
(Senior Vice President, General Counsel and Secretary)
  Senior Vice President, General Counsel and Secretary,
United States Fire Insurance Company
305 Madison Avenue
Morristown, NJ 07962
  United States

 

 

 

 

ANNEX II

 

DIRECTORS AND EXECUTIVE OFFICERS OF

ZENITH NATIONAL INSURANCE CORP.

 

The following table sets forth certain information with respect to the directors and executive officers of Zenith National Insurance Corp.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Andrew A. Barnard
(Director)
  President and Chief Operating Officer,
Fairfax Insurance Group
100 William Street, 5th Floor
New York, New York 10038
  United States
         
Antonio Gaitan
(Executive Vice President, Chief Financial Officer and Treasurer)
  Executive Vice President, Chief Financial Officer and Treasurer,
Zenith Insurance Company
21255 Califa St.
Woodland Hills, California 91367
  United States
         
Chad J. Helin
(Executive Vice President, General Counsel, Secretary and Director)
  Executive Vice President, General Counsel and Director,
Zenith Insurance Company
21255 Califa St.
Woodland Hills, California 91367
  United States
         
Davidson M. Pattiz
(President and Chief Operating Officer)
  President and Chief Operating Officer,
Zenith Insurance Company
21255 Califa St.
Woodland Hills, California 91367
  United States
         
Jack D. Miller
(Director)
  Director,
Zenith Insurance Company
21255 Califa St.
Woodland Hills, California 91367
  United States
         
Jennifer Allen
(Director)
  Vice President and Chief Financial Officer,
Fairfax Financial Holdings Limited
95 Wellington Street West, Suite 800
Toronto, Ontario M5J 2N7
  Canada
         
Kari L. Van Gundy
(Chairperson, Chief Executive Officer and Director)
  Chairperson, Chief Executive Officer and Director,
Zenith Insurance Company
21255 Califa St.
Woodland Hills, California 91367
  United States
         
Olivier Quesnel
(Director)
  Vice President and Chief Actuary,
Fairfax Financial Holdings Limited,
95 Wellington Street West,
Suite 800
Toronto ON  M5J 2N7
  Canada

 

 

 

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Peter Clarke
(Director)
  President and Chief Operating Officer,
Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
  Canada

 

 

 

 

ANNEX JJ

 

DIRECTORS AND EXECUTIVE OFFICERS OF

ZENITH INSURANCE COMPANY

 

The following table sets forth certain information with respect to the directors and executive officers of Zenith Insurance Company.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Antonio Gaitan
(Executive Vice President, Chief Financial Officer and Treasurer)
  Executive Vice President, Chief Financial Officer and Treasurer,
Zenith Insurance Company
21255 Califa St.
Woodland Hills, California 91367
  United States
         
Chad J. Helin
(Executive Vice President, General Counsel and Director)
  Executive Vice President, General Counsel and Director,
Zenith Insurance Company
21255 Califa St.
Woodland Hills, California 91367
  United States
         
Davidson M. Pattiz
(President and Chief Operating Officer)
  President and Chief Operating Officer,
Zenith Insurance Company
21255 Califa St.
Woodland Hills, California 91367
  United States
         
Eden M. Feder
(Executive Vice President)
  Executive Vice President,
Zenith Insurance Company
21255 Califa St.
Woodland Hills, California 91367
  United States
         
Jack D. Miller
(Director)
  Director,
Zenith Insurance Company
21255 Califa St.
Woodland Hills, California 91367
  United States
         
Jason T. Clarke
(Executive Vice President and Chief Actuary)
  Executive Vice President and Chief Actuary,
Zenith Insurance Company
21255 Califa St.
Woodland Hills, California 91367
  United States
         
Kari L. Van Gundy
(Chief Executive Officer, Chairperson of the Board and Director)
  Chief Executive Officer, Chairperson of the Board and Director,
Zenith Insurance Company
21255 Califa St.
Woodland Hills, California 91367
  United States
         
Michael F. Cunningham
(Executive Vice President)
  Executive Vice President,
Zenith Insurance Company
21255 Califa St.
Woodland Hills, California 91367
  United States
         
Paul R. Ramont
(Executive Vice President)
  Executive Vice President,
Zenith Insurance Company
21255 Califa St.
Woodland Hills, California 91367
  United States

 

 

 

 

ANNEX KK

 

DIRECTORS AND EXECUTIVE OFFICERS OF

BRIT LIMITED

 

The following table sets forth certain information with respect to the directors and executive officers of Brit Limited.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Andrea Welsch
(Director)
  Independent Non-Executive Director,
Brit Limited
The Leadenhall Building,
122 Leadenhall Street
London EC3V 4AB
  United Kingdom
         
Andrew A. Barnard
(Director)
  President and Chief Operating Officer,
Fairfax Insurance Group
100 William Street, 5th Floor
New York, New York 10038
  United States
         
Gavin Wilkinson
(Director)
  Chief Financial Officer,
Brit Limited
The Leadenhall Building,
122 Leadenhall Street
London EC3V 4AB
  United Kingdom
         
Gordon Campbell
(Director)
  Senior Independent Non-Executive Director,
Brit Limited
The Leadenhall Building,
122 Leadenhall Street
London EC3V 4AB
  Canada
         
Ken Miner
(Independent Non-Executive Director)
  EVP & Global Head, Capital Markets,
OMERS Administration Corporation
Royal Bank Plaza, North Tower
200 Bay Street, Suite 2300, PO Box 92
Toronto, Ontario M5J 2J2
  Canada
         
Martin Thompson
(Interim Group Chief Executive Officer)
  Interim Group Chief Executive Officer
Brit Limited

The Leadenhall Building,
122 Leadenhall Street
London EC3V 4AB
   
         
Mark Allan
(Executive Director)
  Executive Director, Brit Limited and Ki CEO,
Brit Limited
The Leadenhall Building,
122 Leadenhall Street
London EC3V 4AB
  United Kingdom
         
Matthew Wilson
(Group Chief Executive Officer and Director)
  Group Chief Executive Officer and Director,
Brit Limited
The Leadenhall Building,
122 Leadenhall Street
London EC3V 4AB
  United Kingdom

 

 

 

 

ANNEX LL

 

DIRECTORS AND EXECUTIVE OFFICERS OF

BRIT INSURANCE HOLDINGS LIMITED

 

The following table sets forth certain information with respect to the directors and executive officers of Brit Insurance Holdings Limited.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Antony Usher
(Director)
  Group Financial Controller,
Brit Insurance Holdings Limited
The Leadenhall Building,
122 Leadenhall Street
London EC3V 4AB
  United Kingdom
         
Christopher Denton
(Director)
  Group Head of ILS and Capital Management and Chief Underwriting Officer,
Brit Reinsurance (Bermuda) Limited
Chesney House,
The Waterfront,
96 Pitts Bay Road,
  United Kingdom
         
Gavin Wilkinson
(Director)
  Chief Financial Officer,
Brit Limited
The Leadenhall Building,
122 Leadenhall Street
London EC3V 4AB
  United Kingdom
         
Stuart Dawes
(Director)
  Head of Group Financial Performance,
Brit Limited
The Leadenhall Building,
122 Leadenhall Street
London EC3V 4AB
  United Kingdom

 

 

 

 

ANNEX MM

 

DIRECTORS AND EXECUTIVE OFFICERS OF

BRIT REINSURANCE (BERMUDA) LIMITED

 

The following table sets forth certain information with respect to the directors and executive officers of Brit Reinsurance (Bermuda) Limited.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Alan Waring
(Director)
  Independent Non-Executive Director,
Brit Reinsurance (Bermuda) Limited
Chesney House,
The Waterfront,
96 Pitts Bay Road,
  Ireland
         
Christopher Denton
(Director)
  Group Head of ILS and Capital Management and Chief Underwriting Officer,
Brit Reinsurance (Bermuda) Limited
Chesney House,
The Waterfront,
96 Pitts Bay Road,
  United Kingdom
         
Gavin Wilkinson
(Director)
  Chief Financial Officer,
Brit Limited
The Leadenhall Building,
122 Leadenhall Street
London EC3V 4AB
  United Kingdom
         
Graham Pewter
(Director)
  Independent Non-Executive Director,
Brit Reinsurance (Bermuda) Limited
Chesney House,
The Waterfront,
96 Pitts Bay Road,
  United Kingdom
         
Jay Nichols
(Director)
  Independent Non-Executive Director,
Brit Reinsurance (Bermuda) Limited
Chesney House,
The Waterfront,
96 Pitts Bay Road,
  United States
         
Karl Grieves
(Director)
  Finance and Operations Director,
Brit Reinsurance (Bermuda) Limited
Chesney House,
The Waterfront,
96 Pitts Bay Road,
  United Kingdom

 

 

 

 

ANNEX NN

 

DIRECTORS AND EXECUTIVE OFFICERS OF

BRIT UW LIMITED

 

The following table sets forth certain information with respect to the directors and executive officers of Brit UW Limited.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Antony Usher
(Director)
  Group Financial Controller,
Brit Insurance Holdings Limited
The Leadenhall Building,
122 Leadenhall Street
London EC3V 4AB
  United Kingdom
         
Gavin Wilkinson
(Director)
  Chief Financial Officer,
Brit Limited
The Leadenhall Building,
122 Leadenhall Street
London EC3V 4AB
  United Kingdom
         
Matthew Wilson
(Group Chief Executive Officer and Director)
  Group Chief Executive Officer and Director,
Brit Limited
The Leadenhall Building,
122 Leadenhall Street
London EC3V 4AB
  United Kingdom
         
Stuart Dawes
(Director)
  Head of Group Financial Performance,
Brit Limited
The Leadenhall Building,
122 Leadenhall Street
London EC3V 4AB
  United Kingdom
         
Brit Corporate Services Limited (Director)  

Corporate Director,

The Leadenhall Building,
122 Leadenhall Street
London EC3V 4AB

  England and Wales

 

 

 

 

ANNEX OO

 

DIRECTORS AND EXECUTIVE OFFICERS OF

TIG INSURANCE COMPANY

 

The following table sets forth certain information with respect to the directors and executive officers of TIG Insurance Company.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Deborah A. Irving
(Director, Executive Vice President, Chief Financial Officer and Treasurer)
  Executive Vice President, Chief Financial Officer and Treasurer,
RiverStone Resources LLC
250 Commercial Street, Suite 5000
Manchester, New Hampshire 03101
  Canada
         
Matthew W. Kunish
(Director, Executive Vice President and Chief Actuary)
  Executive Vice President, Chief Actuary,
RiverStone Resources LLC
250 Commercial Street, Suite 5000
Manchester, New Hampshire 03101
  United Kingdom
         
Nicholas C. Bentley
(Chairman, Chief Executive Officer, President and Director)
  Chairman, Chief Executive Officer, President and Director,
RiverStone Resources LLC
250 Commercial Street, Suite 5000
Manchester, New Hampshire 03101
  United Kingdom
         
Robert Sampson
(Executive Vice President and Director)
  Executive Vice President,
RiverStone Resources LLC
250 Commercial Street, Suite 5000
Manchester, New Hampshire 03101
  United States

 

 

 

 

ANNEX PP

 

DIRECTORS AND EXECUTIVE OFFICERS OF

ALLIED WORLD NATIONAL ASSURANCE COMPANY

 

The following table sets forth certain information with respect to the directors and executive officers of Allied World National Assurance Company.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Christian Gravier
(President, North America Professional Lines)
  President, North America Professional Lines,
Allied World Insurance Company
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
John Bender
(Director)
  CEO, Global Reinsurance,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Joseph Cellura
(President, North America Casualty)
  President, North America Casualty,
Allied World Insurance Company
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Louis Iglesias
(Director)
  Chairman of the Board of Directors, President & Chief Executive Officer,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States
         
Robert Bowden
(Executive Vice President, Global Insurance)
  Executive Vice President, Global Insurance,
Allied World Insurance Company
550 Hope Street, Suite 1825
Los Angeles, CA 90071
  United States
         
Wesley Dupont
(Director)
  Chief Operating Officer,
Allied World Assurance Company Holdings, Ltd
199 Water Street, 26th Floor
New York, NY 10038
  United States

 

 

 

 

ANNEX QQ

 

DIRECTORS AND EXECUTIVE OFFICERS OF

BRIT SYNDICATES LIMITED

 

The following table sets forth certain information with respect to the directors and executive officers of Brit Syndicates Limited.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Andrea Welsch
(Director)
  Independent Non-Executive Director,
Brit Syndicates Limited
The Leadenhall Building,
122 Leadenhall Street, London EC3V 4AB
United Kingdom
  United Kingdom
         
Anthony Medniuk
(Director)
  Director,
Brit Syndicates Limited
The Leadenhall Building,
122 Leadenhall Street
London EC3V 4AB
  United Kingdom
         
Caroline Ramsay
(Director)
  Director,
Brit Syndicates Limited
The Leadenhall Building,
122 Leadenhall Street, London EC3V 4AB
United Kingdom
  United Kingdom
         
Christiern Dart
(Director)
  Director,
Brit Syndicates Limited
The Leadenhall Building,
122 Leadenhall Street
London EC3V 4AB
  United Kingdom
         
Gavin Wilkinson
(Director)
  Chief Financial Officer,
Brit Limited
The Leadenhall Building,
122 Leadenhall Street
London EC3V 4AB
  United Kingdom
         
Mark Allan
(Director)
  Executive Director, Brit Limited and Ki CEO,
Brit Limited
The Leadenhall Building,
122 Leadenhall Street
London EC3V 4AB
  United Kingdom
         
Martin Thompson
(Interim Group Chief Executive Officer)
  Interim Group Chief Executive Officer
Brit Limited

The Leadenhall Building,
122 Leadenhall Street
London EC3V 4AB
   

 

 

 

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Matthew Wilson
(Director)
  Group Chief Executive Officer and Director,
Brit Limited
The Leadenhall Building,
122 Leadenhall Street, London EC3V 4AB
United Kingdom
  United Kingdom
         
Pinar Yetgin
(Director)
  Director,
Brit Syndicates Limited
The Leadenhall Building,
122 Leadenhall Street, London EC3V 4AB
United Kingdom
  United Kingdom
         
Simon P.G. Lee
(Director)
  Director,
Brit Syndicates Limited
The Leadenhall Building,
122 Leadenhall Street
London EC3V 4AB
  United Kingdom

 

 

 

 

ANNEX RR

 

DIRECTORS AND EXECUTIVE OFFICERS OF

THE NORTH RIVER INSURANCE COMPANY

 

The following table sets forth certain information with respect to the directors and executive officers of The North River Insurance Company.

 

Name   Present Principal Occupation or
Employment and the Name, Principal
Business and Address of any Corporation
or other Organization in which such
employment is conducted
  Citizenship
Alejandro Morales
(Senior Vice President and Director)
  Senior Vice President,
United States Fire Insurance Company
305 Madison Avenue
Morristown, NJ 07962
  United States
         
Arleen A. Paladino
(Senior Vice President, Chief Financial Officer and Director)
  Executive Vice President, Chief Financial Officer and Treasurer,
Crum & Forster Holdings Corp.
305 Madison Avenue
Morristown, NJ 07962
  United States
         
Carmine Scaglione
(Senior Vice President and Controller)
  Senior Vice President and Controller,
United States Fire Insurance Company
305 Madison Avenue
Morristown, NJ 07962
  United States
         
George R. French
(Treasurer and Vice President)
  Treasurer and Vice President,
United States Fire Insurance Company
305 Madison Avenue
Morristown, NJ 07962
  United States
         
Marc J. Adee
(President, Chief Executive Officer, Chairman and Director)
  President and Chief Executive Officer,
Crum & Forster Holdings Corp. and various other insurance subsidiaries,
305 Madison Avenue
Morristown, NJ 07962
  United States
         
Michael P. McTigue
(Senior Vice President, General Counsel and Secretary)
  Senior Vice President, General Counsel and Secretary,
United States Fire Insurance Company
305 Madison Avenue
Morristown, NJ 07962
  United States

 

 

 

 

Exhibit Index

 

Exhibit No.   Description
     
Ex. 99.1:   Members of filing group, dated April 8, 2022 (incorporated by reference to Exhibit 1 to the Schedule 13D filed by certain of the Reporting Persons with the SEC on April 8, 2022).
     
Ex. 99.2:   Joint filing agreement dated, April 8, 2022 (incorporated by reference to Exhibit 2 to the Schedule 13D filed by certain of the Reporting Persons with the SEC on April 8, 2022).
     
Ex. 99.3:   Power of attorney, dated March 9, 2020 (incorporated by reference to Exhibit 8 to the Schedule 13D filed by certain of the Reporting Persons with the SEC on March 9, 2020).
     
Ex. 99.4:   Power of attorney, dated April 27, 2021 (incorporated by reference to Exhibit 4 to the Schedule 13D filed by certain of the Reporting Persons with the SEC on June 14, 2021).
     
Ex. 99.5:   Power of attorney, dated June 14, 2021 (incorporated by reference to Exhibit 5 to the Schedule 13D filed by certain of the Reporting Persons with the SEC on June 14, 2021).
     
Ex. 99.6:   Proposal, dated August 4, 2022.
     
Ex. 99.7:   Press Release, dated August 4, 2022.
     
Ex. 99.8:   Joint Bidding Agreement, dated August 4, 2022.
     
Ex. 99.9:   Equity Commitment Letter of David L. Sokol, dated August 4, 2022.
     
Ex. 99.10:   Equity Commitment Letter of Deep Water Holdings, LLC, dated August 4, 2022.
     
Ex. 99.11:   Equity Commitment Letter of Ocean Network Express Pte. Ltd., dated August 4, 2022.

 

 

 

Exhibit 99.6

 

POSEIDON ACQUISITION CORP.

 

CONFIDENTIAL

 

August 4, 2022

 

Atlas Corp. 

23 Berkeley Square 

London, United Kingdom WIJ 6HE

 

Attn: Board of Directors

 

Re: Non-Binding “Go-Private” Proposal

 

To Board of Directors (the “Board”):

 

On behalf of an entity (“Bidco”) formed by certain affiliates of Fairfax Financial Holdings Limited (collectively, “FF”), Deep Water Holdings, LLC, The Kyle Roy Washington 2014 Trust, Kyle Roy Washington 2005 Irrevocable Trust u/a/d July 15, 2005, and The Kevin Lee Washington 2014 Trust (collectively, “Washington Family Holdings”), David L. Sokol (“DS”) and Ocean Network Express Pte. Ltd. and certain of their respective affiliates (the “Consortium”), I am writing to outline our proposal to acquire all of the outstanding common shares of Atlas Corp. (the “Company”) not presently owned by FF, Washington Family Holdings, DS and certain executive officers of the Company. FF, Washington Family Holdings and DS, together with their respective affiliates, as applicable, collectively own approximately 68% of the Company’s outstanding common shares on a fully diluted basis. Our proposal does not contemplate the acquisition of any publicly traded Company preferred shares.

 

We believe that the shipping industry will go through significant changes over the next several years as global trade reacts to the supply chain issues of the past two years, and that the global economy and financial markets are in a period of transition, in part due to the effects of the global COVID pandemic. We believe that it will be essential for the Company to make timely decisions, many of which could impact short-term results, and that those decisions cannot be made as efficiently as a public company.

 

We therefore believe that, as a private company, the Company would best be able to achieve long-term value and enhance its competitive position in the global marketplace. We further believe that Bidco’s intended offer to acquire all of the common shares of the Company not already owned by Consortium members and certain executive officers of the Company (the “Transaction”) at a price equal to $14.45 per share will provide a positive result for the holders of the Company’s common shares. This price represents a premium of approximately 32.1% to the average closing price of the Company’s common shares over the last 30 days and a premium of 28.8% to the average closing price over the last 60 days.

 

We will require a very limited 10-day due diligence period and can fully finance the Transaction with Consortium members’ available cash on hand (pursuant to equity commitment letters delivered to and accepted by Bidco). Because the Transaction does not constitute a change of control, it is our understanding that none of the Company’s material outstanding debt will need to be refinanced and no material lender consent will be required. Accordingly, there will be no financing condition. We are prepared to immediately begin negotiating definitive documentation for the Transaction (the “Transaction Agreement”) once counsel to the Special Committee has been engaged, with the goal of entering into a binding definitive agreement within two to three weeks.

 

The proposed Transaction will be subject to certain non-waivable conditions: First, we require that the Board establish a special committee of independent directors (the “Special Committee”) fully-empowered to review and accept or reject this proposal or any other proposal we may make, in conjunction with independent legal and financial advisors selected and engaged by the Special Committee, to determine whether it is in the best interests of the Company and its shareholders (other than Consortium members) and to negotiate definitive agreements with Bidco to effect the Transaction. We will not move forward with any Transaction unless it is approved and recommended by the Special Committee. Second, the definitive agreement governing the Transaction, whether resulting from this or any other proposal that we may make, will include a non-waivable condition that, in addition to any other shareholder vote necessary to approve the Transaction, the Transaction must also be approved by the holders of a majority of the Company’s common shares not owned by Consortium members.

 

 

 

 

Members of the Consortium, in their capacity as shareholders of the Company, are only interested in acquiring the outstanding common shares of the Company that they do not already own; they are not interested in selling their Company common shares to another party and have no intention to vote in their capacity as shareholders of the Company in favor of any such transaction. Nevertheless, we can assure you that, if a Transaction does not occur, whether because (1) we do not make a binding definitive proposal, (2) the Special Committee, after consulting with its advisors, does not approve any proposal we make or (3) the requisite “majority of minority” vote is not obtained, the relationship among the Consortium members and the Company will not be adversely affected, and FF, TWC and DS, and their respective affiliates, as applicable, presently intend to remain as long-term shareholders of the Company.

 

This proposal constitutes an expression of interest only, and we reserve the right to withdraw or modify it in any manner. This letter does not include or constitute a binding offer to acquire the Company or any securities or assets of the Company, or a proposal of definitive terms for any transaction. Please be advised that applicable Consortium members will be filing amended Schedules 13D today.

 

We look forward to working constructively with the Special Committee, with the goal of consummating a successful transaction with value, speed and certainty. We will await your expeditious reply.

 

  Sincerely,
     
  Poseidon Acquisition Corp.
     
  By:    
    Name: David L. Sokol
    Its: Chairman

 

 

 

 

Exhibit 99.7

 

CHAIRMAN OF ATLAS CORP., FAIRFAX FINANCIAL HOLDINGS LIMITED AND THE
WASHINGTON FAMILY PARTNER WITH
Ocean Network Express PTE. LTD. TO JOINTLY
PROPOSE ACQUIRING ALL COMMON SHARES OF ATLAS CORP. NOT CONTROLLED BY ITS
MAJORITY SHAREHOLDERS FOR $14.45 PER SHARE IN CASH

 

London and Toronto, August 4, 2022 — A consortium composed of David L. Sokol, Chairman of the Board of Directors of Atlas Corp. (NYSE: ATCO) (“Atlas” or the “Company”), certain affiliates of Fairfax Financial Holdings Limited (collectively, “Fairfax”)(TSX: FFH and FFH.U), the Washington Family, and Ocean Network Express Pte. Ltd. (the “Consortium”), a global container, transportation and shipping company, announced today that they have jointly proposed to acquire all of the outstanding common shares of Atlas that the Consortium does not already own or control for $14.45 per share in cash, which represents a 32.1% and 28.8% premium over the 30 day and 60 day average closing prices of the Company’s common shares of $10.94 and $11.22, respectively. The non-binding proposal was conveyed on August 4, 2022 in a letter to Atlas’ Board of Directors.

 

Fairfax, the Washington Family, and David L. Sokol own or control approximately 68% of the fully-diluted outstanding common shares of Atlas and would continue their ownership in Atlas as part of the Consortium. Accordingly, the Proposal would not result in a change in control of the Company. Consortium members have committed to fully fund the cash component of the Proposal. It is contemplated that all Atlas preferred shares would remain outstanding following the proposed transaction.

 

David L. Sokol, Chairman of the Board of Directors and member of the Consortium stated: “The Consortium believes the proposed transaction will provide Atlas’s common shareholders with immediate liquidity and certainty of value at a significant premium to the current share price, while allowing Atlas to focus on the long term without the emphasis on short-term results and providing Atlas with an ideal strategic partner to support its future growth.”

 

The Consortium’s proposal provides that Atlas’s board of directors would form a special committee of independent directors fully-empowered to review and accept or reject the proposed transaction and to consider and negotiate the terms of the proposed transaction on behalf of the Atlas board of directors, and that the special committee will select and retain independent legal and financial advisors to assist in its review of the proposed transaction.

 

The Consortium’s proposal further provides that the proposed transaction will be subject to a non-waivable condition requiring approval by holders of a majority of Atlas common shares not owned or controlled by the Consortium, senior management or their respective affiliates.

 

In its proposal letter, the Consortium informed the Atlas board of directors that the members of the Consortium who are currently shareholders of Atlas are interested only in acquiring the remaining common shares of Atlas that they do not currently own or control, and have no interest in selling any of the shares they own or control, nor would they expect, in their capacity as shareholders, to vote in favor of any alternative sale, merger or similar transaction involving Atlas. If the special committee does not approve, or the other common shareholders of Atlas do not approve, the proposed transaction, Fairfax, the Washington Family and David L. Sokol presently intend to continue as long-term shareholders of Atlas.

 

Additional Information and Where to Find It

 

An agreement in respect of the proposed transaction described in this press release has not yet been executed, and this press release is not an offer to purchase or a solicitation of an offer to sell any securities. Any solicitation or offer will only be made through materials filed with the Securities and Exchange Commission (the “SEC”). Atlas shareholders and other interested parties are urged to read these materials if and when they become available because they will contain important information. Atlas shareholders will be able to obtain such documents (when available) free of charge at the SEC’s web site, www.sec.gov.

 

 

 

 

Forward-Looking Statements

 

This press release contains statements regarding the proposed transaction that may be deemed to be “forward-looking statements” within the meaning of applicable securities laws and members of the Consortium may make related oral, forward-looking statements on or following the date hereof. Forward-looking statements, by their nature, are subject to a variety of inherent risks and uncertainties that could cause actual results to differ materially from the results projected. Many of these risks and uncertainties cannot be controlled by the Consortium and include the possibility that discussions with the special committee of the Atlas board of directors may not be successful and the possibility that the proposed transaction may not be entered into or completed on the terms described in this press release or at all, including as a result of changes in the business or prospects of Atlas. Any forward-looking statements in this press release are made only as of the date of this press release. No member of the Consortium assumes any obligation to publicly update any forward-looking statements except as required by law. No information contained on any website referenced in this press release is incorporated by reference herein.

 

About Fairfax Financial Holdings Limited

 

Fairfax Financial Holdings Limited is a holding company which, through its subsidiaries, is primarily engaged in property and casualty insurance and reinsurance and the associated investment management.

 

Contacts:

 

Consortium: David L. Sokol

[email protected]

 

Fairfax: John Varnell, Vice President, Corporate Development - +1-416-367-4941

 

 

 

 

Exhibit 99.8

 

Execution Version

 

JOINT BIDDING AGREEMENT

 

THIS JOINT BIDDING AGREEMENT (the “Agreement”) is entered into and effective as of August 4, 2022 by and among:

 

(1)            Each of the entities set forth on Schedule 2 (collectively, “FF”);

 

(2)            Deep Water Holdings, LLC (“Deep Water”), The Kyle Roy Washington 2014 Trust, Kyle Roy Washington 2005 Irrevocable Trust u/a/d July 15, 2005, and The Kevin Lee Washington 2014 Trust (on behalf of each entity and each as a signatory hereto, collectively “Washington Family Holdings”);

 

(3)            Ocean Network Express Pte. Ltd. (“ONE”); and

 

(4)            David L. Sokol (“DS”)

 

(together, the “Investors”).

 

RECITALS

 

(A)The Investors wish to form a consortium (the “Consortium”) for the purposes of evaluating and potentially implementing a transaction which would result in an entity established by the Consortium (“Bidco”) acquiring Atlas Corp. (the “Company” and, together with its subsidiaries, the “Target” and such transaction, the “Proposed Transaction”).

 

(B)The Investors wish to agree upon certain terms and conditions that will govern the actions of the Investors and the treatment of certain fees, expenses and obligations incurred by the Investors in connection with their evaluation of one or more of their Affiliates participating in, negotiating and/or consummating the Proposed Transaction through Bidco or another Holding Vehicle. The Investors agree to work together on an exclusive basis (as set out in Section 4 of this Agreement) to pursue the Proposed Transaction under the terms of this Agreement.

 

(C)ONE has, on the date hereof, executed an equity financing commitment letter in favor of Bidco (as amended or modified from time to time in compliance with this Agreement, the “ONE ECL”) in which ONE has agreed, subject to the terms and conditions set forth therein, to fund an equity contribution to Bidco as a subscription for common shares in Bidco (“Bidco Common Shares”) in an amount as set forth therein and subject to adjustment as set forth therein and in Section 2.4 herein (the “ONE Commitment”).

 

(D)Deep Water has, on the date hereof, executed an equity financing commitment letter in favor of Bidco (as amended or modified from time to time in compliance with this Agreement, the “Washington Family Holdings ECL”) in which Washington Family Holdings has agreed, subject to the terms and conditions set forth therein, to fund an equity contribution to Bidco as a subscription for Bidco Common Shares in an amount as set forth therein and subject to adjustment as set forth therein and in Section 2.4 herein (the “Washington Family Holdings Commitment”).

 

(E)DS has, on the date hereof, executed an equity financing commitment letter in favor of Bidco (as amended or modified from time to time in compliance with this Agreement, the “DS ECL”) in which DS has agreed, subject to the terms and conditions set forth therein, to fund an equity contribution to Bidco as a subscription for Bidco Common Shares in an amount as set forth therein and subject to adjustment as set forth therein and in Section 2.4 herein (the “DS Commitment”).

 

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NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.DEFINITIONS AND OTHER INTERPRETATIONAL MATTERS

 

1.1In this Agreement, the following terms shall have the following meanings:

 

Adverse Regulatory Condition” has the meaning given in Section 5;

 

Affiliate” with respect to a person, means any other person, whether now in existence or hereafter created, directly or indirectly Controlling, Controlled by or under common Control with such person;

 

Agreement” has the meaning given in the Preamble;

 

Alternative Acquisition Agreement” has the meaning given in Section 10.3;

 

Alternative Holdback Shares” has the meaning given in Section 2.2;

 

Alternative Proposal” has the meaning given in Section 4.1(b);

 

APR Agreement” has the meaning given in Section 2.2;

 

Bidco” has the meaning given in the Recitals;

 

Bidco Common Shares” has the meaning given in the Recitals;

 

Breaching Party” has the meaning given in Section 10.2;

 

Breaching Party Payments” has the meaning given in Section 10.2;

 

Business Day” means a day (other than a Saturday or Sunday) on which banks in New York, New York, Singapore and London, United Kingdom are open for ordinary banking business;

 

Change of Recommendation” has the meaning given in Section 10.3;

 

Closing” means the closing of the Proposed Transaction;

 

Closing Conditions” has the meaning given in Section 2.1;

 

Confidential Information” has the meaning given in Section 7.1;

 

Company” has the meaning given in the Recitals;

 

Company Board” has the meaning given in Section 10.3;

 

Company Common Shares” means the common shares of the Company;

 

Consortium” has the meaning given in the Recitals;

 

Consortium Advisors” has the meaning given in Section 3.2;

 

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Consortium Expenses” has the meaning given in Section 3.2;

 

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 the ownership of voting securities, by contract or otherwise, and “controlled” and “controls” shall have correlative meanings;

 

Deep Water” has the meaning given in the Preamble;

 

Definitive Transaction Documents” has the meaning given in Section 9.4(c);

 

Draft Merger Agreement” has the meaning given in Section 10.6;

 

DS” has the meaning given in the Recitals;

 

DS Commitment” has the meaning given in the Recitals;

 

DS ECL” has the meaning given in the Recitals;

 

ECL” means the ONE ECL, the Washington Family Holdings ECL and/or the DS ECL;

 

FF” has the meaning given in the Preamble;

 

FF Warrants” has the meaning given in Section 2.2;

 

Holding Vehicles” means one or more newly incorporated special purpose vehicles or entities incorporated by the Consortium to effect the acquisition of the Target pursuant to the Proposed Transaction, including Bidco;

 

Investors” has the meaning given in the Preamble; provided that, for purposes of any approval or voting rights under this Agreement, including with respect to the enforcement of ECLs, “Investor” shall not include any party that is in material breach of its obligations under this Agreement or its ECL so long as (1) written notice of such breach (containing specific details of such breach) has been delivered to such Investor in accordance with Section 13.13, and (2) such breach can be cured and has not been reasonably cured within 48 hours of delivery of the foregoing notice;

 

Investor Expenses” has the meaning given in Section 3.1;

 

Joint Bid” has the meaning given in Section 9.1;

 

Majority Investors” means collectively FF, Washington Family Holdings and ONE;

 

Merger Agreement” means a definitive written agreement entered into between Bidco (and/or an Affiliate thereof) and the Target in connection with the Proposed Transaction;

 

ONE” has the meaning given in the Preamble;

 

ONE Commitment” has the meaning given in the Recitals;

 

ONE ECL” has the meaning given in the Recitals;

 

Outside Date” has the meaning given in Section 12.1(b);

 

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Proposed Transaction” has the meaning given in the Recitals;

 

Regulatory Laws” has the meaning given in Section 5;

 

Relevant Percentage” shall mean, with respect to each Investor, a percentage, with (x) the numerator equal to the amount of cash to be paid by such Investor for purposes of funding the payments to the holders of Company Common Shares and other equity securities of the Company under the Merger Agreement in accordance with such Investor’s ECL, as applicable, plus the cash value of such Investor’s Rollover Equity (based on the price per Company Common Share payable pursuant to the Merger Agreement), if applicable, and (y) the denominator equal to the aggregate amount of cash to be paid for purposes of funding the payments to the holders of Company Common Shares and other equity securities of the Company under the Merger Agreement pursuant to all ECLs plus the cash value of all Rollover Equity (based on the price per Company Common Share payable pursuant to the Merger Agreement), as may be adjusted from time to time (if necessary) in accordance with the provisions of this Agreement; provided, that in the event Relevant Percentage is required to be calculated prior to such time as such amounts are calculable by reference to the Merger Agreement, the Relevant Percentages shall be estimated in good faith based on the price per Company Common Share specified in the most recent offer presented to the Company by the Consortium;

 

Representative” has the meaning given in Section 4.2;

 

Revised Proposal” has the meaning given in Section 10.4;

 

Rollover Agreements” has the meaning given in Section 2.2;

 

Rollover Equity” has the meaning given in Section 2.2;

 

RTF” has the meaning given in Section 10.2;

 

Special Committee” has the meaning given in Section 10.3;

 

Stockholder Agreement Documents” has the meaning given in Section 10.1;

 

Surviving Provisions” means Section 3 (Advisors); Section 7 (Confidentiality); Section 10.2 (RTF); Section 10.6 (Termination Fee); Section 11 (Limitation of Liability); Section 12.2 (Termination Date); and Section 13 (Other Terms), and in each case Section 1 to the extent applicable to such other Sections;

 

Target” has the meaning given in the Recitals;

 

Target Expenses” has the meaning given in Section 3.2;

 

Termination Date” has the meaning given in Section 12.1;

 

Total Commitment” means the sum of the ONE Commitment, the Washington Family Holdings Commitment and the DS Commitment;

 

Transaction Structure” has the meaning given in Section 9.3;

 

Washington Family Holdings” has the meaning given in the Preamble;

 

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Washington Family Holdings Commitment” has the meaning given in Section 2.1; and

 

Washington Family Holdings ECL” has the meaning given in Section 2.1.

 

1.2Wherever required by the context of this Agreement, the singular shall include the plural and vice versa, and the masculine gender shall include the feminine and neutral genders and vice versa, and references to any agreement, document or instrument shall be deemed to refer to such agreement, document or instrument as amended, supplemented or modified from time to time.

 

1.3When used herein:

 

(a)the word “or” is not exclusive unless the context clearly requires otherwise;

 

(b)the words “including,” “includes,” “included” and “include” are deemed to be followed by the words “without limitation”;

 

(c)the terms “herein,” “hereof” and “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular section, paragraph or subdivision; and

 

(d)all section, paragraph or clause references not attributed to a particular document shall be references to such parts of this Agreement, and all exhibit, annex and schedule references not attributed to a particular document shall be references to such exhibits, annexes and schedules to this Agreement.

 

1.4This Agreement shall be construed without regard to any presumption or rule requiring construction or interpretation against the party drafting or causing any instrument to be drafted.

 

1.5Any references to any consent required by FF as an Investor, Majority Investor or otherwise in this Agreement or any ECL shall require the consent only of Hamblin Watsa Investment Counsel Ltd., in its capacity as investment manager and/or authorized power of attorney in respect of the Covered Shares (as defined below) held by the entities listed on Schedule 2 hereto.

 

2.EQUITY AND ROLLOVER COMMITMENTS

 

2.1Each of ONE, Deep Water and DS hereby affirms and agrees that it is bound by the provisions set forth in its respective ECL. Each Investor hereby affirms and agrees that Bidco, acting at the direction of any Investor, shall be entitled to enforce the provisions of the ECLs in accordance with this Agreement and the terms thereof, as the case may be, but only if either (a) the Majority Investors have unanimously determined that all conditions to the Closing set forth in the Merger Agreement (the “Closing Conditions”) have been satisfied (other than those conditions that by their nature are to be satisfied at the Closing and which are capable of being satisfied at the Closing) or have unanimously determined to waive all unsatisfied Closing Conditions and shall have obtained any necessary governmental or regulatory approvals for the consummation of the Proposed Transactions (other than regulatory approvals which, if not obtained. would not adversely affect the ability of the Investors and the Company to consummate the Proposed Transaction) and without the imposition of any Adverse Regulatory Condition (as defined below), on a Majority Investor, in each case, as reasonably determined in good faith by such Majority Investor; provided, however, that any Investor’s obligations under its respective ECL can only be waived by the Majority Investors other than the Majority Investor to which such ECL relates, if applicable, or (b) the Company is permitted to cause Bidco or an Affiliate thereof to enforce the provisions of the ECLs under the specific circumstances and as specifically set forth therein and in the Merger Agreement and does in fact so cause Bidco or an Affiliate thereof to enforce such provisions. Bidco or an Affiliate thereof shall not attempt to enforce any ECL until the conditions set forth in this Section 2.1 have been satisfied. Subject to the foregoing provisions of this Section 2.1, Bidco shall have no right to enforce any ECL unless directed to do so by any Investor in accordance with this Section 2.1.

 

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2.2Each of FF, Washington Family Holdings and DS hereby affirms and agrees that he or it shall enter into customary rollover agreements with Bidco and its Affiliates, in form and substance reasonably satisfactory to such Investor, ONE and the other Investors and to be agreed at the earlier of (x) 30 days from the date hereof and (y) entry into the Merger Agreement (the “Rollover Agreements”) (and that each Investor shall be a third party beneficiary thereof to cause Bidco or an Affiliate thereof to enforce the provisions thereof upon the satisfaction or waiver of the Closing Conditions) simultaneously with the execution and delivery of the Merger Agreement, pursuant to which each of FF, Washington Family Holdings and DS will agree that its Company Common Shares set forth on Schedule 1 (which in the case of FF shall include the 6,000,000 Company Common Shares to be issued upon exercise of the warrants held by FF (the “FF Warrants”)) (the “Rollover Equity”) shall not be exchanged in the Proposed Transaction for the consideration set forth in the Merger Agreement, but instead shall be contributed to, converted into or exchanged for Bidco Common Shares as set forth in Section 2.3, subject to the provisions of Section 2.4. Each of FF, Washington Family Holdings and DS hereby represent and warrant (in the case of FF, as indicated on Fairfax Financial Holdings Limited’s Schedule 13D on file with the Securities Exchange Commission, as amended through the date hereof and the Company’s most recent Form 20-F) to ONE and each other that (i) he or it owns and holds good and valid title to all of the Rollover Equity set forth opposite his or its name on Schedule 1, free and clear of any liens or other restrictions on title that would prevent it from entering into this Agreement or its Rollover Agreement and consummating the Proposed Transactions, (ii) he or it has sole voting power, power of disposition, and power to issue instructions with respect to the Rollover Equity set forth opposite his or its name on Schedule 1 and power to agree to all of the matters applicable to such Investor set forth in this Agreement and its Rollover Agreement, in each case, over all of the Rollover Equity set forth opposite his or its name on Schedule 1, and (iii) he or it owns no other securities (including debt securities) of the Target or any of its subsidiaries or securities that are convertible, exercisable or exchangeable for such securities other than the Rollover Equity (other than, in the case of FF, Target’s Series J Preferred Shares). FF hereby represents and warrants that it is not entitled to any further Holdback Shares (as defined in that certain Acquisition Agreement (the “APR Agreement”), dated November 20, 2019, by and among the sellers party thereto, Apple Bidco Limited, Seaspan Corporation, the Company and Fairfax Financial Holdings Limited, as the seller representative, as amended) other than the 493,076 Holdback Shares currently reserved for issuance, but not yet issued, relating to the Unit Unavailability Indemnity Reserved Shares (as that term is defined in the APR Agreement). As part of the Definitive Transaction Documents, the Investors will agree upon a mechanism pursuant to which the Company’s obligation to issue Holdback Shares following the Merger will instead be satisfied, to the extent issuable pursuant to the APR Agreement, by the issuance by Bidco of the number of Bidco Common Shares that such Holdback Shares would have converted into or been exchanged for had they been “Rollover Equity” at the Closing (“Alternative Holdback Shares”) in lieu of the Holdback Shares. Prior to the Closing, FF will exercise all of the FF Warrants.

 

2.3Each Investor agrees to vote, if applicable, all of its direct and indirect equity interests in Bidco, including Bidco Common Shares, to cause Bidco to (i) create the Bidco Common Shares (if not already created) and to cause that to be the sole class of outstanding equity of Bidco at the Closing and (ii) issue and sell or exchange (as the case may be) such Bidco Common Shares to the Investors in accordance with the Merger Agreement, the ECLs, the Rollover Agreements and this Agreement at the same price per Bidco Common Share as paid per Company Common Share pursuant to the Merger Agreement. All such Bidco Common Shares issued by Bidco at the Closing shall be issued to the Investors (including with respect to the Rollover Equity) such that each Investor shall own its Relevant Percentage of such Bidco Common Shares at the Closing, other than any securities issued to directors, officers or employees pursuant to the Merger Agreement or in transactions contemplated by Section 9.4(j). The value per share of Rollover Equity for purposes of the exchange will be equal to the price paid per Company Common Share pursuant to the Merger Agreement. Prior to the Closing, no Investor shall transfer or assign, directly or indirectly, its equity interests in Bidco or its obligations and rights under any ECL, without the prior unanimous written consent of the Investors.

 

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2.4In the event that the Majority Investors unanimously determine that the aggregate equity capital necessary for Bidco and its Affiliates to effect the consummation of the Proposed Transaction contemplated by the Merger Agreement is less than the Total Commitment, the amount of such reduction shall be allocated pro rata amongst the Investors who have entered into ECLs based on the amount of cash committed in such ECLs, and each Investor’s Relevant Percentage shall be adjusted accordingly for all purposes of this Agreement.

 

3.ADVISORS

 

3.1Each Investor shall bear, or shall procure that one of its Affiliates bears, all costs and expenses incurred directly by that Investor in connection with the Proposed Transaction (including any advice from its advisors and counsel) (“Investor Expenses”). For the avoidance of doubt, each Investor shall be solely responsible for its Investor Expenses; provided, however, that notwithstanding the foregoing, (i) upon execution of this Agreement, all of the costs and expenses incurred or committed by DS shall be reimbursed by FF and Washington Family Holdings, and (ii) upon Closing, the costs and expenses incurred or committed by DS in furtherance of the Proposed Transaction shall be assumed and paid by the Company and all expenses theretofore reimbursed by FF and Washington Family Holdings shall be repaid to them by the Company; provided that such amounts assumed, paid and repaid pursuant to this clause (ii) by the Company to DS, FF and Washington Family Holdings shall not exceed $5 million in the aggregate.

 

3.2The Consortium may appoint advisors on behalf of the Consortium or Bidco (“Consortium Advisors”), if the Majority Investors each consent to such arrangement. At the Closing, the Investors will cause the Target to pay all of the costs, fees and out-of-pocket expenses of such Consortium Advisors pursuant to the relevant engagement or retainer agreements (“Consortium Expenses”); provided that to the extent the Target does not have sufficient funds to pay the Consortium Expenses in full, then each Majority Investor shall be responsible for and pay its pro rata portion (based on its Relevant Percentage) of such unpaid Consortium Expenses with funds, which will not be funded pursuant to any Investor’s ECL. At the Closing, the Investors will cause the Target to pay all of the costs, fees and out-of-pocket expenses incurred by the Target in connection with the Proposed Transaction (“Target Expenses”); provided that to the extent the Target does not have sufficient funds to pay the Target Expenses in full, then each Majority Investor shall be responsible for and pay its pro rata portion (based on its Relevant Percentage) of such unpaid Target Expenses with funds, which will not be funded pursuant to any Investor’s ECL and no equity will be issued in connection with any payments of such Target Expenses by any Investor.

 

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4.EXCLUSIVITY

 

4.1In consideration of the Investors committing time and expense to considering and evaluating the Proposed Transaction, each Investor undertakes that until the Termination Date (as defined in Section 12 (Termination)):

 

(a)in connection with the Proposed Transaction, it will, and will ensure that each of its Representatives will, work exclusively with the Consortium and the other Investors;

 

(b)other than as part of the Holding Vehicles and as contemplated by this Agreement, it will not, and will procure that none of its Representatives will, directly or indirectly, initiate, enter into, encourage or continue discussions or negotiations in respect of any transaction, or provide any information to or enter into an agreement with any third party (other than actual and prospective equity providers of the Investor in connection with their investment in the Proposed Transaction as part of the Consortium) who may be interested in making an offer, or entering into an agreement in respect of any transaction, for the acquisition of all or any of the shares or assets of the Target or any transaction designed to achieve a similar outcome (an “Alternative Proposal”);

 

(c)other than as part of the Consortium and as contemplated by this Agreement, it will not, and will procure that none of its Representatives will, directly or indirectly, pursue the Proposed Transaction or any Alternative Proposal; and

 

(d)it will not, and will procure that none of its Representatives will, directly or indirectly solicit, encourage or otherwise facilitate any enquiries or the making of any offer or proposal by a third party or any Investor with respect to an Alternative Proposal;

 

except as agreed in writing unanimously by each of the Investors.

 

4.2For the purposes of this Agreement, “Representative” means any Affiliate of an Investor (other than Target) and the respective directors, officers, employees, equityholders, counsel or advisors of an Investor or of any of its Affiliates, but excluding for purposes of this Section 4 any person that serves as a director of the Company solely to the extent acting in his or her capacity as such.

 

5.REGULATORY LAWS

 

The Investors will work together in good faith to determine the filings that are required by applicable antitrust, competition, foreign investment, fair trade, “know your customer”, anti-money laundering or anti-bribery laws or regulations or other applicable laws or regulations relating to or in connection with the transactions contemplated hereby and in the ECLs and the Rollover Agreements, as well as the acquisition of Target under the Merger Agreement (“Regulatory Laws”). Subject to appropriate confidentiality undertakings, each Investor undertakes to provide all information reasonably requested by the Majority Investors in relation to the Proposed Transaction and such Investor’s investment, including but not limited to in connection with any filings, notifications or other written materials provided under, or relating to, any Regulatory Laws. Notwithstanding the foregoing, in no event will any Majority Investor or any of its subsidiaries or Affiliates have any obligation to propose, negotiate, commit to or effect, by consent decree, hold separate orders, or otherwise, (1) the sale, transfer, divestiture, disposition, or license of any material assets, properties, products, product lines, services, businesses, or rights of such Majority Investor or any of its subsidiaries or Affiliates, or (2) implementing any changes (including through a licensing agreement), or any material restrictions on or other impairment of, such Majority Investor’s, its subsidiaries’ or Affiliates’ ability to use, own, operate or take any other actions with respect to any material assets of such Majority Investor or any of its subsidiaries or Affiliates or Bidco or the Target (each, an “Adverse Regulatory Condition”). Each Investor hereby represents, warrants and covenants to the other Investors that any information that has been or will be supplied on its behalf in connection with Regulatory Laws will be accurate and complete in all material respects (subject to redaction of confidential business information, personal information and privileged information) and will be provided promptly upon request.

 

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6.ACQUISITION OF TARGET SECURITIES

 

6.1Unless approved in advance in writing by each of the Majority Investors or provided for pursuant to the Merger Agreement, each Investor agrees that neither it, nor any of its Affiliates and Representatives acting on its behalf, will, during the term of this Agreement, directly or indirectly:

 

(a)make any proposal to the board of directors of Target or Target’s Representatives regarding, or make any public announcement, proposal or offer with respect to, or otherwise solicit, seek or offer to effect (including indirectly by means of communication with the press or media):

 

(i)any business combination, amalgamation, merger, tender offer, exchange offer or similar transaction involving the Target;

 

(ii)any restructuring, recapitalization, liquidation or similar transaction involving the Target; or

 

(iii)any acquisition of:

 

(A)loans, debt securities or equity securities of the Target (other than in the case of FF, the exercise of the FF Warrants and receipt of any Alternative Holdback Shares);

 

(B)rights or options to acquire interests in loans, debt securities or equity securities of the Target; or

 

(C)a material portion of the assets of the Target;

 

(b)knowingly instigate, initiate, encourage or assist any third party to do, or enter into any discussions or agreements (including any non-disclosure agreement) with any third party with respect to, any of the actions set forth in Section 6.1(a) above;

 

(c)take any action which would reasonably be expected to require the Target to make a public announcement regarding any of the actions set forth in Section 6.1(a) above;

 

(d)otherwise act, alone or in concert with others, to seek representation on the board of directors of the Target or otherwise seek to control or substantially influence the management, board of directors or policies of the Target;

 

(e)publicly request or propose any waiver, amendment or termination of this Section 6.1; or

 

(f)acquire, legally or beneficially, by purchase or otherwise:

 

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(i)any loans, debt securities or equity securities of the Target (other than in the case of FF, the exercise of the FF Warrants and receipt of any Alternative Holdback Shares);

 

(ii)any rights or options to acquire interests in loans, debt securities or equity securities of the Target; or

 

(iii)a material portion of the assets of the Target.

 

6.2Nothing in this Agreement shall prevent any Investor and its Affiliates from holding the securities issued by the Target, or any debt or debt securities in the Target, that they hold as at the date of this Agreement, from having a related person on the board of directors of the Target that is serving on that board as of the date of this Agreement, or from that person serving on the board performing his duties as a member of the board.

 

6.3Each Investor acknowledges that applicable securities laws prohibit any person who has material non-public information about a company from purchasing or selling securities of such company, and each Investor agrees to comply, and to cause its Representatives acting on its behalf to comply, with such prohibitions.

 

7.CONFIDENTIALITY

 

7.1Each Investor shall keep confidential and not disclose to any third party without the prior written consent of each of the other Investors the existence and terms of this Agreement and any other transaction documentation, the proposed terms of the Proposed Transaction, its participation in the Proposed Transaction, the fact that discussions are taking or have taken place and any information disclosed by or on behalf of an Investor in respect of its, or any of its Affiliates’, business or operations (including, without limitation, business plans, financial models or otherwise) (and any document that contains, is based on or utilizes such information) (“Confidential Information”).

 

7.2Notwithstanding the above, an Investor may disclose Confidential Information:

 

(a)where required by any applicable laws, rules or regulations or competent government or regulatory authorities, or requested by such government or regulatory authorities;

 

(b)to its Affiliates or family members of such Affiliates or any shareholder holding more than 30% of the equity interests in such Investor (directly or indirectly);

 

(c)to any provider of equity finance to it (including any current or prospective limited partners or underlying investor in any fund or entity managed or advised by it or its Affiliates);

 

(d)in a press release approved by each of the Investors; and

 

(e)to the employees, consultants, professional advisors, and lenders of it or any person in clauses (a) to (c),

 

in each case, on a need-to-know basis for the purpose of the Proposed Transaction and provided that any such person: (i) is made aware that they are receiving Confidential Information and is subject to a duty of confidentiality with respect to such Confidential Information; or (ii) has otherwise undertaken to observe these confidentiality obligations.

 

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7.3Each Investor shall remain liable for any breaches by any person listed in Sections 7.2(b), 7.2(c) and 7.2(e) above (as applicable) to whom it (or any such listed person) has disclosed Confidential Information.

 

7.4To the extent reasonably practicable and permitted by applicable law, each Investor will notify the other Investors at least twenty four (24) hours before making any disclosure pursuant to Section 7.2(a) above (including, for the avoidance of doubt, any filings with the Securities and Exchange Commission) and shall consider in good faith any comments made by the other Investors to prevent or restrict disclosure, or on the content of the disclosure.

 

7.5Except as required by applicable law or regulation, each Investor shall not make any public announcement or media release in respect of the Proposed Transaction without the prior written approval of each of the Majority Investors; except that, following such an announcement or release by the Company, each Investor may make an announcement or release that contains substantially similar information as that of the Company’s prior announcements or releases. As soon as practicable following execution of this Agreement, the Investors and Bidco shall issue a press release in the form approved by each Investor.

 

8.SHARING OF INFORMATION

 

Each Investor agrees to promptly communicate to the other Investors any information it becomes aware of which is material or would reasonably be expected to be material in the context of the Proposed Transaction and the due diligence being conducted in connection therewith, provided that each Investor shall not be required to communicate such information where it is not permitted to disclose such information as a result of any fiduciary or similar duties or any confidentiality obligation owed to any third party that is not an Affiliate.

 

9.BID CONDUCT

 

9.1Pursuant to the terms of this Agreement, the Investors agree to work together, in good faith, to explore the possibility of submitting an offer to the Target for the Proposed Transaction (the “Joint Bid”).

 

9.2The Investors will coordinate regarding the submission of all bid materials, the material components of the timetable and steps required to submit the Joint Bid and the negotiations with the Target and its advisors regarding the Definitive Transaction Documents.

 

9.3Each Investor agrees to act reasonably with respect to determining and implementing the Proposed Transaction acquisition structure (the “Transaction Structure”) (including with respect to changes to such Transaction Structure) as may be required to satisfy any legal or regulatory requirements, or as may be necessary to achieve greater tax or other efficiencies for the other Investors. It is the intent of the Investors and a condition to the Proposed Transaction that the Proposed Transaction shall be structured so as to qualify as a tax free/tax deferred transaction with respect to the Rollover Equity. The Majority Investors shall work together in good faith to unanimously agree upon terms of the Definitive Transaction Documents that maintain such tax free/tax deferred status for each Investor party to a Rollover Agreement (including that Investors that must file a gain recognition agreement on IRS Form 8838 to qualify for such tax free treatment will have appropriate notice and veto rights over any transaction or transactions that would reasonably be expected to constitute a “triggering event” with respect to such gain recognition agreement), in each case as is unanimously agreed upon by the Majority Investors. For the avoidance of doubt, (a) the Transaction Structure and terms of the Definitive Transaction Documents shall be finally determined by the unanimous written approval of the Majority Investors pursuant to Section 9.4, and (b) no Majority Investor will have any obligation to approve any Transaction Structure or Definitive Transaction Document that would reasonably be likely to have any adverse tax consequences for itself or for any of its investors.

 

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9.4Notwithstanding anything to the contrary contained herein (except that, to the extent contemplated by Section 10.4, only ONE’s consent shall be required to (w) raise the price to be paid per Company Common Share, (x) execute any amendments to the Definitive Transaction Documents (as defined below), (y) increase the size of the ONE Commitment and the resulting increase in the Total Commitment, and (z) approve each of the foregoing on behalf of Bidco, in each of the clauses (x), (y) and (z), that solely effectuate an increase in the price to be paid per Company Common Share in accordance with Section 10.4 and do not otherwise implicate the following decisions) the following decisions will require the unanimous written approval of the Majority Investors:

 

(a)admission of any other Investor to the Consortium and any related amendments to this Agreement to effectuate such admission;

 

(b)the making of any proposals to the Target;

 

(c)approval of any preliminary or final Joint Bid, Merger Agreement and ancillary documents (including any equity commitment letters (including the ECLs) or guaranties) to be provided to the Target and/or financing documentation to implement the Proposed Transaction (any of the foregoing, “Definitive Transaction Documents”);

 

(d)the final bid price (or any change in the amount or form of consideration offered for the Proposed Transaction), and the Transaction Structure; provided that the Majority Investors shall negotiate in good faith to agree upon a Transaction Structure that qualifies as a tax free/tax deferred transaction for the Rollover Equity and is not reasonably likely to have any adverse tax consequence for any Investor prior to the earlier of (x) 30 days from the date hereof or (y) entry into the Merger Agreement;

 

(e)a decision to proceed, or not to proceed, with executing any Definitive Transaction Documents;

 

(f)any amendment or waiver of a right or condition precedent under any Definitive Transaction Document;

 

(g)incurrence of any costs, fees or expenses on behalf of the Consortium, other than any Consortium Expenses;

 

(h)the amounts of each of the ONE Commitment, the Washington Family Holdings Commitment, the DS Commitment (to the extent DS has approved such DS Commitment) and the Total Commitment;

 

(i)the maximum price to be paid per Company Common Share pursuant to the Merger Agreement; and

 

(j)the entry into definitive agreements with certain members of management of Target with respect to the terms of such management member’s employment, compensation, bonus and incentives, rollover equity and/or equity incentives at and following the Closing (it being acknowledged that existing arrangements will remain in place).

 

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Each Majority Investor shall use good faith efforts to respond to any request for approval under this Section 9.4 within 48 hours after receipt of such request from Bidco or an Investor.

 

9.5In the event the Consortium or Bidco enters into any Definitive Transaction Document, each Investor shall, and shall cause each of its Affiliates to, use commercially reasonable efforts to take, or cause to be taken in a reasonably prompt manner, all actions and do, or cause to be done, all things reasonably necessary, proper or advisable in order to enable and permit the Consortium and Bidco to fulfill its obligations under such Definitive Transaction Document; provided that in no event shall any Investor or its Affiliates (excluding Bidco and its subsidiaries) be required to (i) increase the amount of equity commitment under its ECL, or otherwise pay any amounts to Bidco in excess of such amount; or (ii) contribute or pay any amount to or on behalf of Bidco pursuant to this Section 9.5 other than (x) to the extent required by, and consistent with and subject to the terms of, any Stockholder Agreement Documents entered into by such Investor or such Affiliate and (y) out of pocket fees and expenses incurred by such Investor or its Affiliates in otherwise complying with Section 3.2 and this Section 9.5.

 

9.6Each of the Investors agrees to use commercially reasonable efforts to ensure that all drafts of and comments on the Definitive Transaction Documents and other material proposals and developments in the bid process are generally shared with and communicated to all Investors simultaneously.

 

10.BIDCO TERMS

 

10.1From and after the date hereof, each Investor agrees to negotiate in good faith and enter into, prior to or concurrently with the Closing, a stockholders agreement consistent with the terms set forth in Exhibit A and, to the extent necessary, one or more other definitive agreements with respect to such matters as are set forth in Exhibit A, in each case, with such additional or modified terms as the Investors unanimously agree (the “Stockholder Agreement Documents”). In the event that the Stockholder Agreement Documents are not executed and delivered by the Investors prior to or at the Closing, (i) each Investor agrees to continue to negotiate in good faith and enter into such agreements as soon as possible following the Closing, in each case, consistent with the terms set forth in Exhibit A, with such additional or modified terms as the Investors unanimously agree and (ii) until such time as the Stockholder Agreement Documents may be executed and delivered by the Investors and Bidco, each Investor and Bidco agrees that the terms and provisions set forth in Exhibit A shall be binding on, and shall govern with respect to the matters set forth therein and that each of such parties will comply with all of the terms set forth on Exhibit A.

 

10.2Any break fees, reverse termination fees or similar fees, expenses, losses or damages payable by a Holding Vehicle, the Consortium or any Investor or its Affiliates in connection with the Proposed Transaction (collectively, an “RTF”) shall be shared between each of the Investors proportionately based on their respective Relevant Percentage; provided that to the extent that any Investor’s failure to fund its equity commitment under its ECL or Rollover Agreement (such Investor, a “Breaching Party”) results in the obligation to pay any RTF, the Breaching Party shall be responsible for and pay and discharge the RTF and all Consortium Expenses and Investor Expenses in full (or contribute to the applicable Holding Vehicle an amount in cash equal to the RTF and all Consortium Expenses and Investor Expenses (the “Breaching Party Payments”) so that the applicable Holding Vehicle can pay and discharge the Breaching Party Payments, in each case, which such Holding Vehicle is responsible for), and each non-Breaching Party shall be entitled to enforce such obligation against the Breaching Party and be reimbursed by such Breaching Party to the extent such non-Breaching Party has funded any portion of the Breaching Party Payments for which the Breaching Party would otherwise be responsible for hereunder; provided that if there is more than one Breaching Party, then, subject to the provisions of Section 13.5, the obligations of the Breaching Parties shall be several and not joint, with each Breaching Party responsible for its pro rata share of the Breaching Party Payments (based on such Breaching Parties’ respective relative Relevant Percentage); provided, further, that if it is finally determined by a court of competent jurisdiction that there are multiple Breaching Parties and the Breaching Party Payments are due to the relative fault of such Breaching Parties in a proportion different than that contemplated by the immediately preceding proviso, then responsibility for such Breaching Party Payments shall be apportioned among such Breaching Parties based on such relative fault.

 

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10.3In the event that following the execution and delivery of the Merger Agreement, the Target provides Bidco, the Investors or their Affiliates notice pursuant to the Merger Agreement that the Target intends to terminate the Merger Agreement or enter into an agreement with respect to an Alternative Proposal in accordance with the terms of the Merger Agreement (“Alternative Acquisition Agreement”) or that the Board of Directors of the Company (the “Company Board”) or a Special Committee thereof (the “Special Committee”) intends to change its recommendation to the shareholders of the Company to approve and adopt the Merger Agreement and the transactions contemplated thereby (a “Change of Recommendation”), then: (i) the Investors shall promptly and in good faith discuss whether to make adjustments in (A) the terms and conditions of the Merger Agreement and/or (B) the price to be paid per Company Common Share and any related changes to the ECLs as would permit the Company and the Company Board or the Special Committee not to (x) effect a Change of Recommendation or (y) allow the Target to enter into any Alternative Acquisition Agreement with respect to such Alternative Proposal and (ii) to the extent that ONE desires to, the Investors shall cause Bidco to promptly and in good faith discuss and negotiate with the Company and its Representatives to make such adjustments.

 

10.4In connection therewith, if, during or after such discussions and negotiations between and among the Investors and the Company, ONE informs the other Investors in writing that (A) ONE desires to make such adjustments as described in Section 10.3(i) (a “Revised Proposal”) (subject, in the case of adjustments pursuant to Section 10.3(i)(A) (other than those that solely relate to the price to be paid per Company Common Share), which shall require the consent of the Majority Investors pursuant to the provisions of Section 9.4, without reference to the exceptions in the lead in language to Section 9.4 (which exceptions shall only apply in respect of the actions set forth therein specifically related to an increase in the price to be paid per Company Common Share)), (B) ONE has, or has arranged, the necessary incremental equity financing to do so (including proposed amendments to the ONE ECL) (it being understood that the other Investors shall not be obligated to commit additional equity financing in connection therewith), and (C) the valuation of the Rollover Equity for purposes of the contribution of such Rollover Equity to Bidco for Bidco Common Shares is equal to the purchase price to be paid per share of Company Common Stock in such Revised Proposal, then Bidco and the Investors shall submit the Revised Proposal to the Company on such terms and, to the extent such Revised Proposal is accepted by the Company, enter into all necessary agreements to effect such Revised Proposal and the transactions contemplated thereby. In connection with any Revised Proposal, each of the other Investors may, but shall not be required to, increase its equity commitment in its ECL to maintain its Relevant Percentage and DS shall, to the extent he does not agree to the Revised Proposal, have the right to terminate the DS ECL. Each Investor acknowledges and agrees that (i) to the extent that any Investor does not increase its equity commitment in its ECL in connection with a Revised Proposal, and one or more of the other Investors do increase their equity commitments in their respective ECLs, then such non-increasing Investor’s Relevant Percentage will be diluted accordingly and (ii) all Bidco Common Shares acquired pursuant to all ECLs shall be acquired at a price per share equal to the price paid per share of the Company Common Stock in the Revised Proposal (and the valuation of the Rollover Equity for purposes of the contribution of such Rollover Equity to Bidco for Bidco Common Shares shall be deemed to equal the purchase price to be paid per share of Company Common Stock in such Revised Proposal).

 

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10.5The Investors (other than ONE) shall not enter into any agreement that prevents them, prior to termination of the Merger Agreement, from (i) entering into or conducting discussions or negotiations with ONE, (ii) modifying or changing their agreements, arrangements or understandings with Bidco and/or ONE or (iii) participating in any proposal to modify the terms of the Merger Agreement or agreeing to any such modification.

 

10.6Any Termination Fee (as defined in the draft Merger Agreement, dated as of July 29, 2022, the “Draft Merger Agreement,” as such term may be amended, replaced or otherwise modified in any executed Merger Agreement) or similar payments received by any Holding Vehicle or any Investor in connection with the Proposed Transaction pursuant to Section 11.04(b) of the Draft Merger Agreement (as such provision may be amended, replaced, moved or otherwise modified, and giving effect to the same economic and legal substance thereto as provided in the Draft Merger Agreement), will be paid to ONE, unless otherwise agreed to in writing by ONE. Any expense reimbursement received by any Holding Vehicle or any Investor in connection with the Proposed Transaction pursuant to Section 11.04(a) of the Draft Merger Agreement (as such provision may be amended, replaced, moved or otherwise modified, and giving effect to the same economic and legal substance thereto as provided in the Draft Merger Agreement) shall be used first to pay any Consortium Expenses, and thereafter to reimburse any Investor, on a pro rata basis based on their respective Relevant Percentage, for any Consortium Expenses or Investor Expenses they have paid or owe.

 

10.7Concurrently with the execution of a Merger Agreement, each of FF, Washington Family Holdings and DS will enter into a customary voting and support agreement with Bidco and ONE which shall be in effect until the earlier of the termination of the Merger Agreement or Closing.

 

10.8In addition to any other stockholder approvals that may be required in connection with the Proposed Transaction, the consummation of the Proposed Transaction shall be conditioned on the approval of the holders of a majority of the Company Common Shares not held by the Investors.

 

11.LIMITATION OF LIABILITY

 

11.1The rights, obligations and liabilities of each of the Investors under this Agreement are assumed severally and not jointly or jointly and severally by each of them.

 

11.2The Investors acknowledge and agree that damages may not be an adequate remedy for any breach or threatened breach of this Agreement and any Investor who is not in breach shall be entitled without proof of special damage to seek injunctive relief and other equitable remedies (including specific performance) and the Investor in breach will not oppose in such circumstances the granting of injunctive or equitable remedy in favor of the non-breaching Investor(s).

 

11.3Nothing in this Agreement shall constitute an obligation on any Investor to make an investment in any of the Holding Vehicles or to participate in the Proposed Transaction except as agreed herein and in the ECLs and Rollover Agreements, subject to the terms and conditions herein and therein.

 

11.4In no event shall any Investor, its Affiliates or Representatives be liable under this Agreement to the Consortium, any other Investor or any other third party for consequential, indirect, incidental, special, exemplary or punitive damages, or lost profits or diminution in value arising out of, relating to, or in connection with any breach of this Agreement, except to the extent such damages (except for any special, exemplary or punitive damages) were reasonably foreseeable as a result of such breach.

 

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12.TERMINATION

 

12.1This Agreement shall apply until, and shall terminate automatically upon, the earliest to occur of the following events:

 

(a)the Target stated in writing prior to entering into a Merger Agreement that it will not proceed with the Proposed Transaction and, in the unanimous opinion of the Investors, there being no reasonable prospect of the Proposed Transaction (or substantially similar transaction) being recommenced within three (3) months of such decision;

 

(b)a Merger Agreement has not been fully executed and delivered by a Holding Vehicle and its applicable Affiliates, on the one hand, and the Target or an applicable Affiliate thereof, on the other hand, within three (3) months (or such other period as may be agreed in writing among the Investors) from the date of this Agreement (the “Outside Date”);

 

(c)the Merger Agreement is terminated in accordance with its terms;

 

(d)the date upon which (i) ONE delivers written notice that it is terminating the ONE ECL in accordance with the terms thereof or (ii) any Investor delivers written notice prior to the earlier of (x) 30 days from the date hereof and (y) entry into the Merger Agreement that it has determined, on the advice of its outside tax advisors, that it is not feasible to structure the Proposed Transaction so as to qualify for tax free or tax deferred treatment with respect to the Rollover Equity or so as to otherwise avoid material adverse tax consequences to that Investor;

 

(e)the occurrence of the Closing; or

 

(f)the Majority Investors unanimously agree in writing to terminate this Agreement;

 

(the “Termination Date”).

 

12.2If this Agreement is terminated in accordance with this Section 12, then the Surviving Provisions will survive such termination; provided, however, that if this Agreement is terminated pursuant to Section 12.1(e), only the last sentence of Section 2.2 and the terms of Section 3, Section 7, Section 10.1, Section 11 and this Section 12.2 (and any related definitions) shall survive in accordance with the terms of such Sections until fully performed. The termination of this Agreement shall not prejudice any rights, liabilities or obligations that have accrued prior to such termination. Following termination of this Agreement, no Investor, the Consortium or Bidco shall incur any further Investor Expenses or Consortium Expenses that any other Investor would be required to contribute to or reimburse.

 

13.OTHER TERMS

 

13.1Capacity. Each Investor represents and warrants to each other Investor that it has full power and authority and has obtained all necessary consents to enter into and perform the obligations expressed to be assumed by it under this Agreement, that the obligations expressed to be assumed by it under this Agreement are legal, valid and binding and enforceable against it in accordance with their terms and that the execution, delivery and performance by it of this Agreement and the performance of each such obligation will not:

 

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(a)result in a breach of, or constitute a default under, any agreement or arrangement to which it is a party or by which it is bound or under its constitutive documents; or

 

(b)result in a breach of any law or order, judgment or decree of any court, governmental agency or regulatory body to which it is party or by which it is bound.

 

13.2Governing law. This Agreement and all claims hereunder shall be governed by, and construed and enforced in accordance with, the internal laws of the State of Delaware without giving effect to any laws, provisions or rules (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware and without regard to any borrowing statute that would result in the application of the statutes of limitations or repose of any other jurisdiction. In furtherance of the foregoing, the laws of the State of Delaware will control even if under such jurisdiction’s choice of law or conflict of law analysis, the substantive or procedural law of some other jurisdiction would ordinarily or necessarily apply. EACH PARTY HERETO ACKNOWLEDGES THAT ANY ACTION OR LEGAL PROCEEDING, DIRECTLY OR INDIRECTLY, ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY CLAIM HEREUNDER IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY SUCH ACTION, LEGAL PROCEEDING OR CLAIM HEREUNDER. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT: (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF SUCH ACTION OR PROCEEDING, SEEK TO ENFORCE THE FOREGOING WAIVER; (II) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER; (III) IT MAKES THIS WAIVER VOLUNTARILY; AND (IV) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 

13.3Jurisdiction. Each of the parties hereto hereby irrevocably submits to the exclusive jurisdiction of the Court of Chancery of the State of Delaware sitting in Wilmington, Delaware (or if such court declines to exercise such jurisdiction in any appropriate state or federal court in the State of Delaware sitting in Wilmington, Delaware) over all claims hereunder and the parties hereto hereby irrevocably agree that all claims hereunder shall be heard and determined in such court. The parties hereby irrevocably waive, to the fullest extent permitted by applicable law, any objection that they may now or hereafter have to the laying of venue of any such dispute brought in such court or any defense of inconvenient forum for the maintenance of such dispute. The parties hereto agree that a final judgment with respect to any such claim hereunder shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by applicable law. Each of the parties hereto hereby consents to process being served by any party to this Agreement in any legal proceeding by the delivery of a copy thereof (other than by e-mail) in accordance with the provisions of Section 13.13.

 

13.4No Partnership. Nothing in this Agreement shall be construed as constituting a general partnership or authorizing any Investor to act as an agent of any other Investor with power to bind such party.

 

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13.5No Recourse. This Agreement may only be enforced against, and any claim based upon, arising out of, or related to this Agreement, or the negotiation, execution, or performance of this Agreement, may only be brought against the Investors, and then only with respect to the specific obligations set forth herein with respect to such Investor. No past, present, or future director, officer, employee, incorporator, manager, member, partner, shareholder, Affiliate, agent, attorney, or other Representative of any Investor or of any Affiliate of any Investor, or any of their successors or permitted assigns, shall have any liability (whether in contract, tort, equity or otherwise) for any obligations or liabilities of any party under this Agreement or for any claim or action based on, in respect of or by reason of the transactions contemplated hereby. Without otherwise affecting the foregoing provisions, the entities that constitute Washington Family Holdings agree that they shall be jointly and severally liable for their obligations under this Agreement (but for avoidance of doubt, only the Washington Family Holdings entity or entities that provide the Washington Family Holdings ECL shall be liable for such obligations).

 

13.6Rights and Remedies. No delay of or omission in the exercise of any right, power or remedy accruing to any Investor as a result of any breach or default by any other Investor under this Agreement shall impair any such right, power or remedy, nor shall it be construed as a waiver of or acquiescence in any such breach or default, or of any similar breach or default occurring later, nor shall any such delay, omission or waiver of any single breach or default be deemed a waiver of any other breach or default occurring before or after such waiver.

 

13.7Third Party Rights. Nothing in this Agreement shall create or be deemed to create any third-party beneficiary rights in any person not a party to this Agreement.

 

13.8Assignment. No rights or obligations under this Agreement may be assigned or transferred by an Investor without the prior unanimous written consent of the Investors; provided any of the rights or obligations of FF may be assigned to another Affiliate of Fairfax Financial Holdings Limited; provided that (i) such assignee agrees in writing to be bound by this Agreement as “FF” to the same extent applicable to the assignor and (ii) no such assignment shall release the assignor of its obligations hereunder.

 

13.9Invalidity. If any provision of this Agreement is or becomes invalid, illegal or unenforceable in any respect under the law of any jurisdiction: (a) the validity, legality and enforceability under the law of that jurisdiction of any other provision; and (b) the validity, legality and enforceability under the law of any other jurisdiction of that or any other provision, in each case shall not be affected or impaired in any way.

 

13.10Waiver. A waiver of any term, provision or condition of, or consent granted under, this Agreement shall be effective only if given in writing and signed by the waiving or consenting Investor and then only in the instance and for the purpose for which it is given.

 

13.11Amendment. This Agreement may be amended only by a document signed by each of the Investors.

 

13.12Counterparts. This Agreement may be signed in counterparts, each of which shall constitute one and the same document.

 

13.13Notices. All notices, requests, instruction, demands and other communications under this Agreement shall be in writing and shall be deemed given (i) when delivered personally by hand (with written confirmation of receipt), (ii) on the date sent by e-mail if sent during normal business hours of the recipient, and on the next Business Day if sent after normal business hours of the recipient or (iii) when received by the addressee if sent by nationally recognized overnight delivery service (with written confirmation of receipt), in each case, at the following addresses (or to such other address as a party may have specified by notice given to the other party pursuant to this provision):

 

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(a)If to FF, to:

 

Hamblin Watsa Investment Counsel Ltd. 

95 Wellington Street West, Suite 802 

Toronto, Ontario, Canada M5J 2N7 

Attention:General Counsel
 Email:[email protected]

 

with a copy to (which shall not constitute notice):

 

Torys LLP 

114 Avenue of the Americas, 23rd Floor 

New York, NY 10036 

Attention:Michael Horwitz
Email:[email protected]

 

(b)If to Washington Family Holdings, to:

 

Washington Corporations
P.O. Box 16630
101 International Way
Missoula, MT 59808

 

Attention:Jerry Lemon
Email:[email protected]

 

with a copy to (which shall not constitute notice):

 

K&L Gates LLP 

925 Fourth Avenue, Suite 2900 

Seattle, WA 98104 

Attention:Stephan Coonrod and Christopher H. Cunningham
Email:[email protected] and [email protected]

 

(c)If to ONE, to:

 

Ocean Network Express Pte. Ltd. 

7 Straits View, 

#16-01 Marina One East Tower, 

Singapore 018936 

Attention:Corporate Strategy & Sustainability
Email:[email protected]

 

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with a copy to (which shall not constitute notice):

 

Latham & Watkins LLP 

1271 Avenue of the Americas 

New York, NY 10020 

Attention:Christopher G. Cross; James C. Gorton; David Kurzweil
Email:[email protected]; [email protected]; [email protected]

 

(d)If to DS, to:

 

David L Sokol 

2400 Del Lago Drive 

Fort Lauderdale, FL 33316 

Attention:David L. Sokol
Email:[email protected]

 

with a copy to (which shall not constitute notice):

 

Honigman LLP 

2290 First National Building 

600 Woodward Avenue 

Detroit, MI 48226 

Attention:Tracy Larsen; Jeff Kuras; Barbara Kaye
Email:[email protected]; [email protected]; [email protected]

 

or to such other address or addresses as the Parties may from time to time designate in writing.

 

13.14Entire Agreement. This Agreement (together with ECLs, the Rollover Agreements and the Stockholder Agreement Documents) contains the entire agreement among the Investors with respect to the transactions contemplated hereby and supersedes all prior and contemporaneous agreements, discussions, negotiations, correspondence, communication, understandings, promises and representations, whether written or oral, among the Investors with respect to the subject matter hereof. Furthermore, the Investors each hereby acknowledge that this Agreement embodies the justifiable expectations of sophisticated parties derived from arm’s-length negotiations and the Investors specifically acknowledge that no party has any special relationship with another party that would justify any expectation beyond that of ordinary parties in an arm’s-length transaction.

 

20

 

 

IN WITNESS HEREOF, the parties have duly executed this Agreement as of the date first above written.

 

21

 

 

Schedule 1

 

Rollover Equity

 

Investor Number of Company Common Shares
FF 131,759,155 (125,759,155 Company Common Shares held by FF and 6,000,000 Company Common Shares underlying the FF Warrants)
Washington Family Holdings 63,583,731 (49,576,493 held by Deep Water Holdings, LLC, 5,390,233 held by The Kyle Roy Washington 2014 Trust, 1,795,034 held by Kyle Roy Washington 2005 Irrevocable Trust u/a/d July 15, 2005, and 6,821,971 held by The Kevin Lee Washington 2014 Trust)
DS 7,000,000
TOTAL  

 

22

 

 

Schedule 2

 

Stockholders and Warrantholders Controlled by Fairfax Financial Holdings Limited

 

Allied World Assurance Company (Europe) dac 

Allied World Assurance Company (U.S.) Inc. 

Allied World Assurance Company, AG 

Allied World Assurance Company, Ltd 

Allied World Insurance Company 

Allied World National Assurance Company 

Allied World Specialty Insurance Company 

Allied World Surplus Lines Insurance Company 

Brit Reinsurance (Bermuda) Limited 

Brit Syndicates Limited 

Brit UW Limited 

Fairfax (Barbados) International Corp. 

Fairfax Financial Holdings Limited 

Greystone Insurance Company 

Hilltop Specialty Insurance Company 

Hudson Excess Insurance Company 

Hudson Insurance Company 

HWIC Global Equity Fund 

Newline Corporate Name Limited 

Odyssey Group Holdings, Inc. 

Odyssey Reinsurance Company 

RiverStone Corporate Capital Limited 

RiverStone Insurance (UK) Limited 

The North River Insurance Company 

The Second 810 Holdco Ltd. 

The Sixty Three Foundation 

TIG Insurance (Barbados) Limited 

TIG Insurance Company 

Trustees of Newline Syndicate 1218 

United States Fire Insurance Company 

Wentworth Insurance Company Ltd. 

Zenith Insurance Company

 

23

 

 

Exhibit A 

Stockholder Agreement Term Sheet

 

[attached]

 

24

 

 

Exhibit 99.9

 

Execution Version

August 4, 2022

 

Poseidon Acquisition Corp. 

Attention: David L. Sokol
Email: [email protected]

 

Re:DS Equity Commitment Letter

 

Ladies and Gentlemen:

 

Reference is made to that certain Joint Bidding Agreement, dated and effective as of the date hereof (as it may be amended, supplemented or otherwise modified from time to time, the “Agreement”), by and among the entities set forth on Schedule 2 of the Agreement (collectively, “FF”), Deep Water Holdings, LLC, The Kyle Roy Washington 2014 Trust, Kyle Roy Washington 2005 Irrevocable Trust u/a/d July 15, 2005, and The Kevin Lee Washington 2014 Trust (collectively, “Washington Family Holdings”), Ocean Network Express, Pte. Ltd. (“ONE”) and David L. Sokol (“DS”). Capitalized terms used but not defined herein have the meanings ascribed to them in the Agreement.

 

Subject to the conditions set forth in this letter agreement, DS hereby agrees that at the Closing, he will contribute, or cause to be contributed, to Bidco $30,000,000 (such amount, the “DS Commitment”), which amount shall be used by Bidco to fund (and fully discharge) a portion of the aggregate consideration to be paid by Bidco or a subsidiary thereof pursuant to the Merger Agreement in exchange for the equity interests in Atlas Corporation (the “Company”) (other than the Rollover Equity) (the “Bidco Payment Obligations”); provided that (i) to the extent that Bidco does not require the full amount of the Total Commitment to fund the Bidco Payment Obligations at the Closing, the DS Commitment, the ONE Commitment and the Washington Family Holdings Commitment shall be reduced on a pro rata basis and (ii) DS shall not, under any circumstances, be obligated to contribute (or cause to be contributed) to Bidco more than the DS Commitment. Upon the funding of the DS Commitment, DS (or his Affiliates) will acquire Bidco Common Shares, which shall be the same class and type of equity interests of Bidco as ONE acquires and FF and Washington Family Holdings (together with DS, the “Rollover Group”) acquire, and at the same price per Bidco Common Share paid, (1) pursuant to the ONE ECL and the Washington Family Holdings ECL and (2) with respect to the members of the Rollover Group in exchange for their Rollover Equity (using the price paid per Company Common Share paid pursuant to the Merger Agreement as the value per share of Rollover Equity).

 

 

 

 

DS’s obligation to fund the DS Commitment is subject to (a) the execution and delivery of the Merger Agreement by the Company and Bidco and/or one or more Affiliates of Bidco (the “Bidco Merger Parties”), (b) the satisfaction in full or waiver by the Bidco Merger Parties, on or before the Closing, of all of the conditions precedent to the Bidco Merger Parties’ obligations to consummate the Merger as set forth in the Merger Agreement (other than those conditions that by their terms are to be satisfied by the delivery of documents or taking of any other action at the Closing but which are capable of being satisfied at such time) as agreed by the Investors in accordance with the Agreement, provided that there shall not be imposed any Adverse Regulatory Condition with respect to DS or his Affiliates, as shall be reasonably determined in good faith by DS; it being understood that the funding of the DS Commitment will occur contemporaneous with the Closing, (c) with respect to the ONE ECL and the Washington Family Holdings ECL, the ONE Commitment and the Washington Family Holdings Commitment shall have been funded or will be funded at the Closing and the Rollover Equity shall have been contributed to Bidco by FF and Washington Family Holdings in accordance with the applicable Rollover Agreements at the Closing, in each case substantially concurrently with the DS Commitment funding, (d) the price to be paid per Company Common Share pursuant to the Merger Agreement does not exceed an amount as agreed upon in writing by ONE, FF and Washington Family Holdings pursuant to Section 9.4 of the Agreement and as further approved for this purpose by DS, and (e)(i) the substantially contemporaneous consummation of the Closing under the Merger Agreement, (ii) the obtaining by the Company of a final and non-appealable judgment requiring Bidco to specifically perform its obligations pursuant to the terms of the Merger Agreement or (iii) the obtaining by Bidco of a final and non-appealable judgment requiring DS to specifically perform its obligations under this letter agreement.

 

DS’s obligation to fund the DS Commitment will terminate automatically and immediately upon the earliest to occur of (a) the valid termination of the Agreement in accordance with Section 12.1 of the Agreement (other than clause (e) thereof), (b) the Closing and the funding of the DS Commitment hereunder, at which time the obligations hereunder shall be discharged, (c) commencement by Bidco, ONE, FF, Washington Family Holdings, the Company or any of their respective Affiliates of a lawsuit or other proceeding asserting, in writing, directly or indirectly, any claim for payment under or in respect of the Agreement, this letter agreement, or the transactions contemplated hereby or thereby from DS or his Affiliates, in each case other than a lawsuit or other proceeding against DS pursuant to the Agreement or DS’s Rollover Agreement or to specifically enforce the provisions of this letter agreement, the Agreement, DS’s Rollover Agreement or any other contractual agreement between or among the foregoing parties as permitted herein or therein; and (d) written notice by DS of a determination to terminate the ECL in accordance with Section 10.4 of the Agreement in the case of a Revised Proposal. Upon a valid termination of this letter agreement, neither DS nor any of his Affiliates shall have any further obligations or liabilities hereunder.

 

Subject to the terms of the Agreement, DS may assign all or a portion of his obligation to fund the DS Commitment to an Affiliate with the consent of each of ONE, FF and Washington Family Holdings except no consent shall be required in the case of assignment to Teton Capital, LLC; provided, however, that any such assignment shall not relieve DS of his obligations under this letter agreement. The DS Commitment shall not be assignable by Bidco without the prior written consent of DS, and the granting of such consent in a given instance shall be solely in the discretion of DS and, if granted, shall not constitute a waiver of this requirement as to any subsequent assignment. Except as expressly provided herein, this letter agreement shall not be assignable without the consent of the parties hereto, each of ONE, FF and Washington Family Holdings and the Company.

 

2

 

 

This letter agreement shall be binding solely on the parties hereto and their successors and permitted assignees and inure solely to the benefit of Bidco, and nothing set forth in this letter agreement shall be construed to confer upon or give to any Person other than Bidco any benefits, rights or remedies under or by reason of, or any rights to enforce or cause Bidco to enforce, the DS Commitment or any other provisions of this letter agreement; provided, however, that, subject to the terms and conditions set forth in Section 2.1 of the Agreement and in the Merger Agreement, each of ONE, FF, Washington Family Holdings and the Company is hereby made a third-party beneficiary of the rights granted to Bidco hereby for the purpose of obtaining specific performance of Bidco’s right to cause the DS Commitment to be funded pursuant to the terms and conditions hereunder, and for no other purpose (including, without limitation, any claim for monetary damages hereunder). DS’s creditors shall have no right to enforce this letter agreement or to cause Bidco to enforce this letter agreement.

 

Notwithstanding anything to the contrary that may be expressed or implied in this letter agreement or any document or instrument delivered contemporaneously herewith, and notwithstanding the fact that DS or any of his successors or permitted assignees may be a partnership, limited liability company or similar domestic or foreign entity, Bidco by its acceptance of the benefits of this letter agreement, covenants, agrees and acknowledges that no person other than DS and his successors and permitted assignees shall have any obligation hereunder and that it has no rights of recovery against, and no recourse hereunder or under this letter agreement, the Merger Agreement or any documents or instruments delivered in connection herewith or therewith shall be had against, any former, current or future director, officer, agent, Affiliate, manager or employee of DS (or any of his successors or assignees), against any former, current or future general or limited partner, manager, equityholder or member of DS (or any of his successors or assignees) or any Affiliate thereof or against any former, current or future director, officer, agent, employee, Affiliate, assignee, general or limited partner, equityholder, manager or member of any of the foregoing (each, other than DS and his successors and permitted assignees, a “DS Affiliate”), whether by or through attempted piercing of the corporate veil, by or through a claim by or on behalf of DS against the DS Affiliates, by the enforcement of any assessment or by any legal or equitable proceeding, or any DS Affiliate by virtue of any statute, regulation or other applicable law, or otherwise; provided that (and notwithstanding anything to the contrary provided herein or in any document or instrument delivered contemporaneously herewith), (A) nothing herein shall limit the rights of ONE, FF and Washington Family Holdings against DS under the Agreement pursuant to the terms and conditions of such Agreement or DS’s Rollover Agreement pursuant to the terms and conditions of such Rollover Agreement, and (B) nothing herein shall limit the rights of ONE, FF, Washington Family Holdings and the Company against DS (or with respect to any assignee hereof) as a third-party beneficiary under this letter agreement pursuant to the terms and conditions hereof. The parties hereto expressly agree and acknowledge that no personal liability whatsoever shall attach to, be imposed on, or otherwise be incurred by any DS Affiliate, as such, for any obligations of DS under this letter agreement or the transactions contemplated hereby, under any documents or instruments delivered in connection herewith, or for any claim based on, in respect of, or by reason of, such obligations or their creation.

 

3

 

 

Bidco further agrees that neither it nor any of its Affiliates shall have any right of recovery against DS or any DS Affiliate, whether by piercing of the corporate veil, by a claim on behalf of Bidco or any of its equityholders against DS or any DS Affiliate, or otherwise, except for Bidco’s right to be capitalized by DS with the DS Commitment under and to the extent provided in this letter agreement and DS’s Rollover Agreement and subject to the terms and conditions hereof and thereof. Bidco hereby covenants and agrees that it shall not institute, and shall cause its Affiliates not to institute, any proceeding or bring any other claim arising under, or in connection with, the Agreement or the Merger Agreement against DS or any DS Affiliate, except for claims against DS under this letter agreement, the Agreement or DS’s Rollover Agreement.

 

This letter agreement shall be treated as confidential and is being provided to Bidco, ONE, FF, Washington Family Holdings and the Company solely in connection with the Agreement and the Merger Agreement. This letter agreement may not be used, circulated, quoted or otherwise referred to in any document (other than the Agreement, the Merger Agreement, the ONE ECL and the Washington Family Holdings ECL), except with the written consent of DS; provided, that Bidco or the Company or any other Investor may disclose this letter agreement (a) to its officers, directors, advisors and other authorized representatives, (b) to the extent required by applicable Law or the applicable rules of any national securities exchange, including, without limitation, in connection with routine filings, submissions and any other similar documentation required or customary to comply with U.S. Securities and Exchange Commission filing requirements or in connection with any securities regulatory agency filings relating to the transactions contemplated under the Merger Agreement; provided that Bidco and the Company will, to the extent reasonably practicable and permitted by applicable law, notify DS at least twenty four (24) hours before making any such disclosure and consider in good faith any comments made by DS to prevent or restrict disclosure, or on the content of the disclosure, and (c) in connection with the enforcement by Bidco and/or the Company of their respective rights hereunder or under the Merger Agreement or DS’s Rollover Agreement.

 

This letter agreement and all claims hereunder shall be governed by, and construed and enforced in accordance with, the internal laws of the State of Delaware without giving effect to any laws, provisions or rules (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware and without regard to any borrowing statute that would result in the application of the statutes of limitations or repose of any other jurisdiction. In furtherance of the foregoing, the laws of the State of Delaware will control even if under such jurisdiction’s choice of law or conflict of law analysis, the substantive or procedural law of some other jurisdiction would ordinarily or necessarily apply.

 

Each of the parties hereto hereby irrevocably submit to the exclusive jurisdiction of the Court of Chancery of the State of Delaware sitting in Wilmington, Delaware (or if such court declines to exercise such jurisdiction in any appropriate state or federal court in the State of Delaware sitting in Wilmington, Delaware) over all claims hereunder and the parties hereto hereby irrevocably agree that all claims hereunder shall be heard and determined in such court. The parties hereby irrevocably waive, to the fullest extent permitted by applicable Law, any objection that they may now or hereafter have to the laying of venue of any such dispute brought in such court or any defense of inconvenient forum for the maintenance of such dispute. The parties hereto agree that a final judgment with respect to any such claim hereunder shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by applicable Law.

 

4

 

 

Each of the parties hereto hereby consents to process being served by any party to this letter agreement in any legal proceeding by the delivery of a copy thereof (other than by e-mail) in accordance with the provisions of the immediately succeeding paragraph.

 

All notices, requests, instruction, demands and other communications under this letter agreement shall be in writing and shall be deemed given (i) when delivered personally by hand (with written confirmation of receipt), (ii) on the date sent by e-mail if sent during normal business hours of the recipient, and on the next Business Day if sent after normal business hours of the recipient or (iii) when received by the addressee if sent by nationally recognized overnight delivery service (with written confirmation of receipt), in each case, at the following addresses (or to such other address as a party may have specified by notice given to the other party pursuant to this provision):

 

If to DS, to:

 

David L Sokol 

2400 Del Lago Drive 

Fort Lauderdale, FL 33316 

Attention:David L. Sokol
 Email:[email protected]

  

with a copy to (which shall not constitute notice):

 

Honigman LLP 

2290 First National Building 

600 Woodward Avenue 

Detroit, MI 48226

 

Attention:Tracy Larsen; Jeff Kuras; Barbara Kaye
Email:[email protected]; [email protected]; [email protected]

 

If to Bidco, to:

 

Poseidon Acquisition Corp. 

Attention:David L. Sokol
Email:[email protected]

 

with a copy to (which shall not constitute notice):

 

K&L Gates LLP 

925 Fourth Avenue, Suite 2900 

Seattle, WA 98104 

Attention:Stephan Coonrod and Christopher H. Cunningham
Email:[email protected] and [email protected]

 

5

 

 

If to Bidco, to:

 

Poseidon Acquisition Corp. 

Attention:[__________]
Email:[__________]

 

with a copy to (which shall not constitute notice):

 

Honigman LLP 

2290 First National Building 

600 Woodward Avenue 

Detroit, MI 48226 

Attention:Tracy Larsen; Jeff Kuras; Barbara Kaye
Email:[email protected]; [email protected]; [email protected]

 

and with a copy to (which shall not constitute notice):

 

Latham & Watkins LLP 

1271 Avenue of the Americas 

New York, NY 10020 

Attention:Christopher G. Cross; James C. Gorton; David Kurzweil
Email:[email protected]; [email protected]; [email protected]

 

and with a copy to (which shall not constitute notice):

 

Torys LLP 

114 Avenue of the Americas, 23rd Floor 

New York, NY 10036 

Attention:Michael Horwitz
Email:[email protected]

 

EACH PARTY HERETO ACKNOWLEDGES THAT ANY ACTION OR LEGAL PROCEEDING, DIRECTLY OR INDIRECTLY, ARISING OUT OF OR RELATING TO THIS LETTER AGREEMENT, THE SPECIFIED DOCUMENTS OR ANY CLAIM HEREUNDER IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY SUCH ACTION, LEGAL PROCEEDING OR CLAIM HEREUNDER. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT: (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF SUCH ACTION OR PROCEEDING, SEEK TO ENFORCE THE FOREGOING WAIVER; (II) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER; (III) IT MAKES THIS WAIVER VOLUNTARILY; AND (IV) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS PARAGRAPH.

 

6

 

 

This letter agreement, the Agreement and DS’s Rollover Agreement contain the complete agreement between DS and Bidco with respect to the subject matter hereof and thereof, and supersede all prior and contemporaneous agreements, discussions, negotiations, correspondence, communications, undertakings and understandings among the parties with respect to such subject matter.

 

This letter agreement may not be amended except by an instrument in writing signed on behalf of each of the parties hereto and, following the execution of the Merger Agreement, the Company; provided, however, that DS may amend this letter agreement to reflect any assignment as expressly permitted herein.

 

This letter agreement may be executed in one or more counterparts including by facsimile or other means of electronic transmission, such as by electronic mail in “.pdf” form, each of which shall be deemed to be an original copy of this letter agreement and all of which, when taken together, will be deemed to constitute one and the same agreement.

 

If any provision of this letter agreement is or becomes invalid, illegal or unenforceable in any respect under the law of any jurisdiction: (a) the validity, legality and enforceability under the law of that jurisdiction of any other provision; and (b) the validity, legality and enforceability under the law of any other jurisdiction of that or any other provision, in each case shall not be affected or impaired in any way; provided, however, that this letter agreement may not be enforced without giving effect to the second paragraph, the third paragraph, the fourth paragraph, and the seventh paragraph and to the cap on the DS Commitment.

 

DS hereby represents and warrants with respect to itself to Bidco that (a) it has all legal entity power and authority to execute, deliver, and perform the obligations under this letter agreement, (b) the execution, delivery, and performance of this letter agreement by DS has been duly and validly authorized and approved by all necessary legal entity action by it, (c) this letter agreement has been duly and validly executed and delivered by it and constitutes a valid and legally binding obligation of it, enforceable against it in accordance with the terms of this letter agreement, except as enforcement hereof may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights or by general equity principles, (d) the execution, delivery and performance of this letter agreement by DS does not violate or result in a breach or default under (i) the organizational or governance documents of DS, (ii) any material document or agreement to which DS is a party or otherwise binding on DS, or (iii) subject to obtaining any necessary regulatory approvals for the consummation of the funding of the DS Commitment pursuant to this letter agreement and the Closing, any applicable Law unless the failure to receive such regulatory approval would not adversely affect the ability of DS to consummate the funding of the DS Commitment, and (e) it has the financial capacity, and will maintain such financial capacity through the termination hereof, to pay and perform its obligations under this letter agreement, and all funds necessary for DS to fulfill the DS Commitment shall be available to DS for so long as this letter agreement shall remain in effect.

 

[Remainder of page intentionally left blank]

 

7

 

 

  Very truly yours,
     
                   DAVID L. SOKOL
     
  By:  
  Name:  
  Title:  

 

Accepted and Acknowledged as of the date first written above:                                             
     
POSEIDON ACQUISITION CORP.  
     
By:              
Name:  
Title:  

 

 

 

Exhibit 99.10

 

Execution Version

August 4, 2022

 

Poseidon Acquisition Corp. 

Attention: David L. Sokol
Email: [email protected]

 

Re:Washington Family Holdings Equity Commitment Letter

 

Ladies and Gentlemen:

 

Reference is made to that certain Joint Bidding Agreement, dated and effective as of the date hereof (as it may be amended, supplemented or otherwise modified from time to time, the “Agreement”), by and among the entities set forth on Schedule 2 of the Agreement (collectively, “FF”), Deep Water Holdings, LLC, The Kyle Roy Washington 2014 Trust, Kyle Roy Washington 2005 Irrevocable Trust u/a/d July 15, 2005, and The Kevin Lee Washington 2014 Trust (collectively, “Washington Family Holdings”), Ocean Network Express, Pte. Ltd. (“ONE”) and David L. Sokol (“DS”). Capitalized terms used but not defined herein have the meanings ascribed to them in the Agreement.

 

Subject to the conditions set forth in this letter agreement, Deep Water Holdings, LLC (“Deep Water”) hereby agrees that at the Closing, it will contribute, or cause to be contributed, to Bidco $175,000,000 (such amount, the “Washington Family Holdings Commitment”), which amount shall be used by Bidco to fund (and fully discharge) a portion of the aggregate consideration to be paid by Bidco or a subsidiary thereof pursuant to the Merger Agreement in exchange for the equity interests in Atlas Corporation (the “Company”) (other than the Rollover Equity)(the “Bidco Payment Obligations”); provided that (i) to the extent that Bidco does not require the full amount of the Total Commitment to fund the Bidco Payment Obligations at the Closing, the Washington Family Holdings Commitment, the ONE Commitment and the DS Commitment shall be reduced on a pro rata basis and (ii) Deep Water shall not, under any circumstances, be obligated to contribute (or cause to be contributed) to Bidco more than the Washington Family Holdings Commitment. Upon the funding of the Washington Family Holdings Commitment, Deep Water (or a wholly owned, direct or indirect, subsidiary thereof) will acquire Bidco Common Shares, which shall be the same class and type of equity interests of Bidco as ONE acquires and FF and DS (together with Washington Family Holdings, the “Rollover Group”) acquire, and at the same price per Bidco Common Share paid, (1) pursuant to the ONE ECL and DS ECL and (2) with respect to the members of the Rollover Group, in exchange for their Rollover Equity (using the price paid per Company Common Share paid pursuant to the Merger Agreement as the value per share of Rollover Equity).

 

 

 

 

Deep Water’s obligation to fund the Washington Family Holdings Commitment is subject to (a) the execution and delivery of the Merger Agreement by the Company and Bidco and/or one or more Affiliates of Bidco (the “Bidco Merger Parties”), (b) the satisfaction in full or waiver by the Bidco Merger Parties, on or before the Closing, of all of the conditions precedent to the Bidco Merger Parties’ obligations to consummate the Merger as set forth in the Merger Agreement (other than those conditions that by their terms are to be satisfied by the delivery of documents or taking of any other action at the Closing but which are capable of being satisfied at such time) as agreed by the Investors in accordance with the Agreement, provided that there shall not be imposed any Adverse Regulatory Condition with respect to Washington Family Holdings or its Affiliates, as shall be reasonably determined in good faith by Washington Family Holdings; it being understood that the funding of the Washington Family Holdings Commitment will occur contemporaneous with the Closing, (c) with respect to the ONE ECL and the DS ECL, the ONE Commitment and the DS Commitment (subject to the provisions of Section 10.4 of the Agreement) shall have been funded or will be funded at the Closing and the Rollover Equity shall have been contributed to Bidco by each of FF and DS in accordance with the applicable Rollover Agreements at the Closing, in each case substantially concurrently with the Washington Family Holdings Commitment funding, (d) the price to be paid per Company Common Share pursuant to the Merger Agreement does not exceed the amount as agreed upon in writing by ONE, TWC and FF pursuant to Section 9.4 of the Agreement, and (e)(i) the substantially contemporaneous consummation of the Closing under the Merger Agreement, (ii) the obtaining by the Company of a final and non-appealable judgment requiring Bidco to specifically perform its obligations pursuant to the terms of the Merger Agreement or (iii) the obtaining by Bidco of a final and non-appealable judgment requiring Deep Water to specifically perform its obligations under this letter agreement.

 

Deep Water’s obligation to fund the Washington Family Holdings Commitment will terminate automatically and immediately upon the earliest to occur of (a) the valid termination of the Agreement in accordance with Section 12.1 of the Agreement (other than clause (e) thereof), (b) the Closing and the funding of the Washington Family Holdings Commitment hereunder, at which time the obligations hereunder shall be discharged, and (c) commencement by Bidco, ONE, FF, DS, the Company or any of their respective Affiliates of a lawsuit or other proceeding asserting, in writing, directly or indirectly, any claim for payment under or in respect of the Agreement, this letter agreement, or the transactions contemplated hereby or thereby from Washington Family Holdings or its Affiliates, in each case other than a lawsuit or other proceeding against Washington Family Holdings pursuant to the Agreement or Washington Family Holdings’ Rollover Agreement or to specifically enforce the provisions of this letter agreement, the Agreement, Washington Family Holdings’ Rollover Agreement or any other contractual agreement between or among the foregoing parties as permitted herein or therein. Upon a valid termination of this letter agreement, neither Washington Family Holdings nor any of its Affiliates shall have any further obligations or liabilities hereunder.

 

Subject to the terms of the Agreement, Deep Water may assign all or a portion of its obligation to fund the Washington Family Holdings Commitment to another Washington Family Holdings party or to an Affiliate of any Washington Family Holdings party with the consent of each of ONE, FF and DS except in the case of assignment to another Washington Family Holdings party, which shall not require consent; provided, however, that any such assignment shall not relieve Deep Water of its obligations under this letter agreement. The Washington Family Holdings Commitment shall not be assignable by Bidco without the prior written consent of Deep Water, and the granting of such consent in a given instance shall be solely in the discretion of Deep Water and, if granted, shall not constitute a waiver of this requirement as to any subsequent assignment. Except as expressly provided herein, this letter agreement shall not be assignable without the consent of the parties hereto, each of ONE, FF and DS and the Company.

 

2

 

 

This letter agreement shall be binding solely on the parties hereto and their successors and permitted assignees and inure solely to the benefit of Bidco, and nothing set forth in this letter agreement shall be construed to confer upon or give to any Person other than Bidco any benefits, rights or remedies under or by reason of, or any rights to enforce or cause Bidco to enforce, the Washington Family Holdings Commitment or any other provisions of this letter agreement; provided, however, that, subject to the terms and conditions set forth in Section 2.1 of the Agreement and in the Merger Agreement, each of ONE, FF, DS and the Company is hereby made a third-party beneficiary of the rights granted to Bidco hereby for the purpose of obtaining specific performance of Bidco’s right to cause the Washington Family Holdings Commitment to be funded pursuant to the terms and conditions hereunder, and for no other purpose (including, without limitation, any claim for monetary damages hereunder). Washington Family Holdings’ creditors shall have no right to enforce this letter agreement or to cause Bidco to enforce this letter agreement.

 

Notwithstanding anything to the contrary that may be expressed or implied in this letter agreement or any document or instrument delivered contemporaneously herewith, and notwithstanding the fact that Washington Family Holdings or any of its successors or permitted assignees may be a partnership, limited liability company or similar domestic or foreign entity, Bidco by its acceptance of the benefits of this letter agreement, covenants, agrees and acknowledges that no person other than Deep Water and its successors and permitted assignees shall have any obligation hereunder and that it has no rights of recovery against, and no recourse hereunder or under this letter agreement, the Merger Agreement or any documents or instruments delivered in connection herewith or therewith shall be had against, any former, current or future director, officer, agent, Affiliate, manager or employee of Washington Family Holdings (or any of its successors or assignees), against any former, current or future general or limited partner, manager, equityholder or member of Washington Family Holdings (or any of its successors or assignees) or any Affiliate thereof or against any former, current or future director, officer, agent, employee, Affiliate, assignee, general or limited partner, equityholder, manager or member of any of the foregoing (each, other than Washington Family Holdings and its successors and permitted assignees, a “Washington Family Holdings Affiliate”), whether by or through attempted piercing of the corporate veil, by or through a claim by or on behalf of Washington Family Holdings against the Washington Family Holdings Affiliates, by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any statute, regulation or other applicable law, or otherwise; provided that (and notwithstanding anything to the contrary provided herein or in any document or instrument delivered contemporaneously herewith), (A) nothing herein shall limit the rights of ONE, FF and DS against Washington Family Holdings under the Agreement pursuant to the terms and conditions of such Agreement or Washington Family Holdings’ Rollover Agreement pursuant to the terms and conditions of such Rollover Agreement, and (B) nothing herein shall limit the rights of ONE, FF, DS and the Company against Deep Water (or with respect to any assignee hereof) as a third-party beneficiary under this letter agreement pursuant to the terms and conditions hereof. The parties hereto expressly agree and acknowledge that no personal liability whatsoever shall attach to, be imposed on, or otherwise be incurred by any Washington Family Holdings party (other than Deep Water) or any Affiliate thereof, as such, for any obligations of Deep Water under this letter agreement or the transactions contemplated hereby, under any documents or instruments delivered in connection herewith, or for any claim based on, in respect of, or by reason of, such obligations or their creation.

 

3

 

 

Bidco further agrees that neither it nor any of its Affiliates shall have any right of recovery against Washington Family Holdings or any of the Washington Family Holdings Affiliates, whether by piercing of the corporate veil, by a claim on behalf of Bidco or any of its equityholders against Washington Family Holdings or any of the Washington Family Holdings Affiliates, or otherwise, except for Bidco’s right to be capitalized by Deep Water with the Washington Family Holdings Commitment under and to the extent provided in this letter agreement and Washington Family Holdings’ Rollover Agreement and subject to the terms and conditions hereof and thereof. Bidco hereby covenants and agrees that it shall not institute, and shall cause its Affiliates not to institute, any proceeding or bring any other claim arising under, or in connection with, the Agreement or the Merger Agreement against Washington Family Holdings or any of the Washington Family Holdings Affiliates, except for claims against Deep Water under this letter agreement or against Washington Family Holdings under the Agreement or Washington Family Holdings’ Rollover Agreement.

 

This letter agreement shall be treated as confidential and is being provided to Bidco, ONE, FF, DS and the Company solely in connection with the Agreement and the Merger Agreement. This letter agreement may not be used, circulated, quoted or otherwise referred to in any document (other than the Agreement, the Merger Agreement, the ONE ECL and the DS ECL), except with the written consent of Washington Family Holdings; provided, that Bidco or the Company or any other Investor may disclose this letter agreement (a) to its officers, directors, advisors and other authorized representatives, (b) to the extent required by applicable Law or the applicable rules of any national securities exchange, including, without limitation, in connection with routine filings, submissions and any other similar documentation required or customary to comply with U.S. Securities and Exchange Commission filing requirements or in connection with any securities regulatory agency filings relating to the transactions contemplated under the Merger Agreement; provided that Bidco and the Company will, to the extent reasonably practicable and permitted by applicable law, notify Washington Family Holdings at least twenty four (24) hours before making any such disclosure and consider in good faith any comments made by Washington Family Holdings to prevent or restrict disclosure, or on the content of the disclosure, and (c) in connection with the enforcement by Bidco and/or the Company of their respective rights hereunder or under the Merger Agreement or Washington Family Holdings’ Rollover Agreement.

 

This letter agreement and all claims hereunder shall be governed by, and construed and enforced in accordance with, the internal laws of the State of Delaware without giving effect to any laws, provisions or rules (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware and without regard to any borrowing statute that would result in the application of the statutes of limitations or repose of any other jurisdiction. In furtherance of the foregoing, the laws of the State of Delaware will control even if under such jurisdiction’s choice of law or conflict of law analysis, the substantive or procedural law of some other jurisdiction would ordinarily or necessarily apply.

 

Each of the parties hereto hereby irrevocably submit to the exclusive jurisdiction of the Court of Chancery of the State of Delaware sitting in Wilmington, Delaware (or if such court declines to exercise such jurisdiction in any appropriate state or federal court in the State of Delaware sitting in Wilmington, Delaware) over all claims hereunder and the parties hereto hereby irrevocably agree that all claims hereunder shall be heard and determined in such court. The parties hereby irrevocably waive, to the fullest extent permitted by applicable Law, any objection that they may now or hereafter have to the laying of venue of any such dispute brought in such court or any defense of inconvenient forum for the maintenance of such dispute. The parties hereto agree that a final judgment with respect to any such claim hereunder shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by applicable Law.

 

4

 

 

Each of the parties hereto hereby consents to process being served by any party to this letter agreement in any legal proceeding by the delivery of a copy thereof (other than by e-mail) in accordance with the provisions of the immediately succeeding paragraph.

 

All notices, requests, instruction, demands and other communications under this letter agreement shall be in writing and shall be deemed given (i) when delivered personally by hand (with written confirmation of receipt), (ii) on the date sent by e-mail if sent during normal business hours of the recipient, and on the next Business Day if sent after normal business hours of the recipient or (iii) when received by the addressee if sent by nationally recognized overnight delivery service (with written confirmation of receipt), in each case, at the following addresses (or to such other address as a party may have specified by notice given to the other party pursuant to this provision):

 

If to Deep Water, to:

 

Washington Corporations
P.O. Box 16630
101 International Way
Missoula, MT 59808

Attention:Jerry Lemon
Email:[email protected]

 

with a copy to (which shall not constitute notice):

 

K&L Gates LLP 

925 Fourth Avenue, Suite 2900 

Seattle, WA 98104 

Attention:Stephan Coonrod and Christopher H. Cunningham
Email:[email protected] and [email protected]

 

If to Bidco, to:

 

Poseidon Acquisition Corp. 

Attention:David L. Sokol
Email:[email protected]

 

5

 

 

with a copy to (which shall not constitute notice):

 

Honigman LLP 

2290 First National Building

600 Woodward Avenue 

Detroit, MI 48226 

Attention:Tracy Larsen; Jeff Kuras; Barbara Kaye
Email:[email protected]; [email protected]; [email protected]

 

and with a copy to (which shall not constitute notice):

 

Latham & Watkins LLP 

1271 Avenue of the Americas 

New York, NY 10020 

Attention:Christopher G. Cross; James C. Gorton; David Kurzweil
Email:[email protected]; [email protected]; [email protected]

 

and with a copy to (which shall not constitute notice):

 

Torys LLP 

114 Avenue of the Americas, 23rd Floor 

New York, NY 10036 

Attention:Michael Horwitz
Email:[email protected]

 

EACH PARTY HERETO ACKNOWLEDGES THAT ANY ACTION OR LEGAL PROCEEDING, DIRECTLY OR INDIRECTLY, ARISING OUT OF OR RELATING TO THIS LETTER AGREEMENT, THE SPECIFIED DOCUMENTS OR ANY CLAIM HEREUNDER IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY SUCH ACTION, LEGAL PROCEEDING OR CLAIM HEREUNDER. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT: (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF SUCH ACTION OR PROCEEDING, SEEK TO ENFORCE THE FOREGOING WAIVER; (II) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER; (III) IT MAKES THIS WAIVER VOLUNTARILY; AND (IV) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS PARAGRAPH.

 

This letter agreement, the Agreement and Washington Family Holdings’ Rollover Agreement contain the complete agreement between Washington Family Holdings and Bidco with respect to the subject matter hereof and thereof, and supersede all prior and contemporaneous agreements, discussions, negotiations, correspondence, communications, undertakings and understandings among the parties with respect to such subject matter.

 

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This letter agreement may not be amended except by an instrument in writing signed on behalf of each of the parties hereto and, following the execution of the Merger Agreement, the Company; provided, however, that Deep Water may amend this letter agreement to reflect any assignment as expressly permitted herein.

 

This letter agreement may be executed in one or more counterparts including by facsimile or other means of electronic transmission, such as by electronic mail in “.pdf” form, each of which shall be deemed to be an original copy of this letter agreement and all of which, when taken together, will be deemed to constitute one and the same agreement.

 

If any provision of this letter agreement is or becomes invalid, illegal or unenforceable in any respect under the law of any jurisdiction: (a) the validity, legality and enforceability under the law of that jurisdiction of any other provision; and (b) the validity, legality and enforceability under the law of any other jurisdiction of that or any other provision, in each case shall not be affected or impaired in any way; provided, however, that this letter agreement may not be enforced without giving effect to the second paragraph, the third paragraph, the fourth paragraph, and the seventh paragraph and to the cap on the Washington Family Holdings Commitment.

 

Deep Water hereby represents and warrants with respect to itself to Bidco that (a) it has all legal entity power and authority to execute, deliver, and perform the obligations under this letter agreement, (b) the execution, delivery, and performance of this letter agreement by Deep Water has been duly and validly authorized and approved by all necessary legal entity action by it, (c) this letter agreement has been duly and validly executed and delivered by it and constitutes a valid and legally binding obligation of it, enforceable against it in accordance with the terms of this letter agreement, except as enforcement hereof may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights or by general equity principles, (d) the execution, delivery and performance of this letter agreement by Deep Water does not violate or result in a breach or default under (i) the organizational or governance documents of Deep Water, (ii) any material document or agreement to which Deep Water is a party or otherwise binding on Deep Water, or (iii) subject to obtaining any necessary regulatory approvals for the consummation of the funding of the Washington Family Holdings Commitment pursuant to this letter agreement and the Closing, any applicable Law unless the failure to receive such regulatory approval would not adversely affect the ability of Deep Water to consummate the funding of the Washington Family Holdings Commitment, and (e) it has the financial capacity, and will maintain such financial capacity through the termination hereof, to pay and perform its obligations under this letter agreement, and all funds necessary for Deep Water to fulfill the Washington Family Holdings Commitment shall be available to Deep Water for so long as this letter agreement shall remain in effect.

 

[Remainder of page intentionally left blank]

 

7

 

 

  Very truly yours,
     
                   DEEP WATER HOLDINGS, LLC
     
  By:      
  Name:  
  Title:  

 

Accepted and Acknowledged as of the date first written above:                                             
     
POSEIDON ACQUISITION CORP.
     
By:               
Name:  
Title:  

 

 

 

Exhibit 99.11

 

Execution Version

August 4, 2022

 

Poseidon Acquisition Corp. 

Attention: David L. Sokol
Email: [email protected]

 

Re:ONE Equity Commitment Letter

 

Ladies and Gentlemen:

 

Reference is made to that certain Joint Bidding Agreement, dated and effective as of the date hereof (as it may be amended, supplemented or otherwise modified from time to time, the “Agreement”), by and among the entities set forth on Schedule 2 of the Agreement (collectively, “FF”), Deep Water Holdings, LLC, The Kyle Roy Washington 2014 Trust, Kyle Roy Washington 2005 Irrevocable Trust u/a/d July 15, 2005, and The Kevin Lee Washington 2014 Trust (collectively, “Washington Family Holdings”), Ocean Network Express Pte. Ltd. (“ONE”) and David L. Sokol (“DS”). Capitalized terms used but not defined herein have the meanings ascribed to them in the Agreement.

 

Subject to the conditions set forth in this letter agreement, ONE hereby agrees that at the Closing, it will contribute, or cause to be contributed, to Bidco $1,400,000,000 (such amount, the “ONE Commitment”), which amount shall be used by Bidco to fund (and fully discharge) a portion of the aggregate consideration to be paid by Bidco or a subsidiary thereof pursuant to the Merger Agreement in exchange for the equity interests in Atlas Corporation (the “Company”) (other than the Rollover Equity) (the “Bidco Payment Obligations); provided that (i)(A) the amount of the ONE Commitment to be funded by ONE under this letter agreement shall be reduced by the amount of the DS Commitment and the Washington Family Holdings Commitment and (B) to the extent that Bidco does not require the full amount of the Total Commitment to fund the Bidco Payment Obligations at the Closing, the ONE Commitment, the DS Commitment and the Washington Family Holdings Commitment shall be reduced on a pro rata basis and (ii) ONE shall not, under any circumstances, be obligated to contribute (or cause to be contributed) to Bidco more than the ONE Commitment. Upon the funding the ONE Commitment, ONE (or a wholly owned, direct or indirect, subsidiary thereof) will acquire Bidco Common Shares, which shall be the same class and type of equity interests of Bidco as FF, Washington Family Holdings and DS (together, the “Rollover Group”) acquire, and at the same price per Bidco Common Share paid, (1) pursuant to the DS ECL and the Washington Family Holdings ECL and (2) in exchange for their Rollover Equity (using the price paid per Company Common Share paid pursuant to the Merger Agreement as the value per share of Rollover Equity).

 

 

 

 

ONE’s obligation to fund the ONE Commitment is subject to (a) the execution and delivery of the Merger Agreement by the Company and Bidco and/or one or more Affiliates of Bidco (the “Bidco Merger Parties”), (b) the satisfaction in full or waiver by the Bidco Merger Parties, on or before the Closing, of all of the conditions precedent to the Bidco Merger Parties’ obligations to consummate the Merger as set forth in the Merger Agreement (other than those conditions that by their terms are to be satisfied by the delivery of documents or taking of any other action at the Closing but which are capable of being satisfied at such time) as agreed by the Investors in accordance with the Agreement, provided that there shall not be imposed any Adverse Regulatory Condition with respect to ONE or its Affiliates, as shall be reasonably determined in good faith by ONE; it being understood that the funding of the ONE Commitment will occur contemporaneous with the Closing, (c) with respect to the Washington Family Holdings ECL and the DS ECL, the Washington Family Holdings Commitment and the DS Commitment (subject to the provisions of Section 10.4 of the Agreement) shall have been funded or will be funded at the Closing and the Rollover Equity shall have been contributed to Bidco in accordance with the Rollover Agreements at the Closing, in each case substantially concurrently with the ONE Commitment funding, (d) the price to be paid per Company Common Share pursuant to the Merger Agreement does not exceed the amount as agreed upon in writing by ONE, FF and Washington Family Holdings pursuant to Section 9.4 of the Agreement, and (e)(i) the substantially contemporaneous consummation of the Closing under the Merger Agreement, (ii) the obtaining by the Company of a final and non-appealable judgment requiring Bidco to specifically perform its obligations pursuant to the terms of the Merger Agreement or (iii) the obtaining by Bidco of a final and non-appealable judgment requiring ONE to specifically perform its obligations under this letter agreement.

 

ONE’s obligation to fund the ONE Commitment will terminate automatically and immediately upon the earliest to occur of (a) the valid termination of the Agreement in accordance with Section 12.1 of the Agreement (other than clause (e) thereof), (b) the Closing and the funding of the ONE Commitment hereunder, at which time the obligations hereunder shall be discharged, (c) commencement by Bidco, the Rollover Group, the Company or any of their respective Affiliates of a lawsuit or other proceeding asserting, in writing, directly or indirectly, any claim for payment under or in respect of the Agreement, this letter agreement, or the transactions contemplated hereby or thereby from ONE or its Affiliates, in each case other than a lawsuit or other proceeding against ONE pursuant to the Agreement or the confidentiality letter between the Company and ONE, dated as of March 7, 2022 (the “Confidentiality Letter”), or to specifically enforce the provisions of this letter agreement, the Agreement or the Confidentiality Letter or any other contractual agreement between or among the foregoing parties as permitted herein or therein, and (d) on or prior to August 14, 2022, ONE delivers written notice to Bidco terminating this letter agreement due to its inability to satisfactorily complete its confirmatory diligence, as determined by ONE in its sole discretion (the “ONE Diligence Condition”). Upon a valid termination of this letter agreement, neither ONE nor any of its Affiliates shall have any further obligations or liabilities hereunder.

 

Subject to the terms of the Agreement, ONE may assign all or a portion of its obligation to fund the ONE Commitment to an Affiliate with the consent of each of FF, Washington Family Holdings and DS; provided, however, that any such assignment shall not relieve ONE of its obligations under this letter agreement. The ONE Commitment shall not be assignable by Bidco without the prior written consent of ONE, and the granting of such consent in a given instance shall be solely in the discretion of ONE and, if granted, shall not constitute a waiver of this requirement as to any subsequent assignment. Except as expressly provided herein, this letter agreement shall not be assignable without the consent of the parties hereto, each of FF, Washington Family Holdings and DS and the Company.

 

2

 

 

This letter agreement shall be binding solely on the parties hereto and their successors and permitted assignees and inure solely to the benefit of Bidco, and nothing set forth in this letter agreement shall be construed to confer upon or give to any Person other than Bidco any benefits, rights or remedies under or by reason of, or any rights to enforce or cause Bidco to enforce, the ONE Commitment or any other provisions of this letter agreement; provided, however, that, subject to the terms and conditions set forth in Section 2.1 of the Agreement and in the Merger Agreement, each of FF, Washington Family Holdings, DS and the Company is hereby made a third-party beneficiary of the rights granted to Bidco hereby for the purpose of obtaining specific performance of Bidco’s right to cause the ONE Commitment to be funded pursuant to the terms and conditions hereunder, and for no other purpose (including, without limitation, any claim for monetary damages hereunder). ONE’s creditors shall have no right to enforce this letter agreement or to cause Bidco to enforce this letter agreement.

 

Notwithstanding anything to the contrary that may be expressed or implied in this letter agreement or any document or instrument delivered contemporaneously herewith, and notwithstanding the fact that ONE or any of its successors or permitted assignees may be a partnership, limited liability company or similar domestic or foreign entity, Bidco by its acceptance of the benefits of this letter agreement, covenants, agrees and acknowledges that no person other than ONE and its successors and permitted assignees shall have any obligation hereunder and that it has no rights of recovery against, and no recourse hereunder or under this letter agreement, the Merger Agreement or any documents or instruments delivered in connection herewith or therewith shall be had against, any former, current or future director, officer, agent, Affiliate, manager or employee of ONE (or any of its successors or assignees), against any former, current or future general or limited partner, manager, equityholder or member of ONE (or any of its successors or assignees) or any Affiliate thereof or against any former, current or future director, officer, agent, employee, Affiliate, assignee, general or limited partner, equityholder, manager or member of any of the foregoing (each, other than ONE and its successors and permitted assignees, an “ONE Affiliate”), whether by or through attempted piercing of the corporate veil, by or through a claim by or on behalf of ONE against the ONE Affiliates, by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any statute, regulation or other applicable law, or otherwise; provided that (and notwithstanding anything to the contrary provided herein or in any document or instrument delivered contemporaneously herewith), (A) nothing herein shall limit the rights of the Rollover Group against ONE under the Agreement pursuant to the terms and conditions of such Agreement, and (B) nothing herein shall limit the rights of FF, Washington Family Holdings, DS and the Company against ONE (or with respect to any assignee hereof) as a third-party beneficiary under this letter agreement pursuant to the terms and conditions hereof. The parties hereto expressly agree and acknowledge that no personal liability whatsoever shall attach to, be imposed on, or otherwise be incurred by any ONE Affiliate, as such, for any obligations of ONE under this letter agreement or the transactions contemplated hereby, under any documents or instruments delivered in connection herewith, or for any claim based on, in respect of, or by reason of, such obligations or their creation.

 

3

 

 

Bidco further agrees that neither it nor any of its Affiliates shall have any right of recovery against ONE or any of the ONE Affiliates, whether by piercing of the corporate veil, by a claim on behalf of Bidco or any of its equityholders against ONE or any of the ONE Affiliates, or otherwise, except for Bidco’s right to be capitalized by ONE with the ONE Commitment under and to the extent provided in this letter agreement and subject to the terms and conditions hereof. Bidco hereby covenants and agrees that it shall not institute, and shall cause its Affiliates not to institute, any proceeding or bring any other claim arising under, or in connection with, the Agreement or the Merger Agreement against ONE or any of the ONE Affiliates, except for claims against ONE under this letter agreement or the Agreement.

 

This letter agreement shall be treated as confidential and is being provided to Bidco, the Rollover Group and the Company solely in connection with the Agreement and the Merger Agreement. This letter agreement may not be used, circulated, quoted or otherwise referred to in any document (other than the Agreement, the Merger Agreement, the Washington Family Holdings ECL and the DS ECL), except with the written consent of ONE; provided, that Bidco or the Company or any other Investor may disclose this letter agreement (a) to its officers, directors, advisors and other authorized representatives, (b) to the extent required by applicable Law or the applicable rules of any national securities exchange, including, without limitation, in connection with routine filings, submissions and any other similar documentation required or customary to comply with U.S. Securities and Exchange Commission filing requirements or in connection with any securities regulatory agency filings relating to the transactions contemplated under the Merger Agreement; provided that Bidco and the Company will, to the extent reasonably practicable and permitted by applicable law, notify ONE at least twenty four (24) hours before making any such disclosure and consider in good faith any comments made by ONE to prevent or restrict disclosure, or on the content of the disclosure, and (c) in connection with the enforcement by Bidco and/or the Company of their respective rights hereunder or under the Merger Agreement.

 

This letter agreement and all claims hereunder shall be governed by, and construed and enforced in accordance with, the internal laws of the State of Delaware without giving effect to any laws, provisions or rules (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware and without regard to any borrowing statute that would result in the application of the statutes of limitations or repose of any other jurisdiction. In furtherance of the foregoing, the laws of the State of Delaware will control even if under such jurisdiction’s choice of law or conflict of law analysis, the substantive or procedural law of some other jurisdiction would ordinarily or necessarily apply.

 

Each of the parties hereto hereby irrevocably submit to the exclusive jurisdiction of the Court of Chancery of the State of Delaware sitting in Wilmington, Delaware (or if such court declines to exercise such jurisdiction in any appropriate state or federal court in the State of Delaware sitting in Wilmington, Delaware) over all claims hereunder and the parties hereto hereby irrevocably agree that all claims hereunder shall be heard and determined in such court. The parties hereby irrevocably waive, to the fullest extent permitted by applicable Law, any objection that they may now or hereafter have to the laying of venue of any such dispute brought in such court or any defense of inconvenient forum for the maintenance of such dispute. The parties hereto agree that a final judgment with respect to any such claim hereunder shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by applicable Law.

 

4

 

 

Each of the parties hereto hereby consents to process being served by any party to this letter agreement in any legal proceeding by the delivery of a copy thereof (other than by e-mail) in accordance with the provisions of the immediately succeeding paragraph.

 

All notices, requests, instruction, demands and other communications under this letter agreement shall be in writing and shall be deemed given (i) when delivered personally by hand (with written confirmation of receipt), (ii) on the date sent by e-mail if sent during normal business hours of the recipient, and on the next Business Day if sent after normal business hours of the recipient or (iii) when received by the addressee if sent by nationally recognized overnight delivery service (with written confirmation of receipt), in each case, at the following addresses (or to such other address as a party may have specified by notice given to the other party pursuant to this provision):

 

If to ONE, to:

 

Ocean Network Express Pte. Ltd. 

7 Straits View, 

#16-01 Marina One East Tower, 

Singapore 018936 

Attention: Corporate Strategy & Sustainability 

Email: [email protected]

 

with a copy to (which shall not constitute notice):

 

Latham & Watkins LLP 

1271 Avenue of the Americas 

New York, NY 10020 

Attention:Christopher G. Cross; James C. Gorton; David Kurzweil
Email:[email protected]; [email protected]; [email protected]

 

If to Bidco, to:

 

Poseidon Acquisition Corp. 

Attention:David L. Sokol
Email:[email protected]

 

with a copy to (which shall not constitute notice):

 

Honigman LLP 

2290 First National Building 

600 Woodward Avenue 

Detroit, MI 48226 

Attention:Tracy Larsen; Jeff Kuras; Barbara Kaye
Email:[email protected]; [email protected]; [email protected]

 

5

 

 

and with a copy to (which shall not constitute notice):

 

Torys LLP 

114 Avenue of the Americas, 23rd Floor 

New York, NY 10036 

Attention:Michael Horwitz
Email:[email protected]

 

and with a copy to (which shall not constitute notice):

 

K&L Gates LLP 

925 Fourth Avenue, Suite 2900 

Seattle, WA 98104 

Attention:Stephan Coonrod and Christopher H. Cunningham
Email:[email protected] and [email protected]

 

EACH PARTY HERETO ACKNOWLEDGES THAT ANY ACTION OR LEGAL PROCEEDING, DIRECTLY OR INDIRECTLY, ARISING OUT OF OR RELATING TO THIS LETTER AGREEMENT, THE SPECIFIED DOCUMENTS OR ANY CLAIM HEREUNDER IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY SUCH ACTION, LEGAL PROCEEDING OR CLAIM HEREUNDER. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT: (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF SUCH ACTION OR PROCEEDING, SEEK TO ENFORCE THE FOREGOING WAIVER; (II) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER; (III) IT MAKES THIS WAIVER VOLUNTARILY; AND (IV) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS PARAGRAPH.

 

This letter agreement and the Agreement contain the complete agreement between ONE and Bidco with respect to the subject matter hereof and thereof, and supersede all prior and contemporaneous agreements, discussions, negotiations, correspondence, communications, undertakings and understandings among the parties with respect to such subject matter.

 

This letter agreement may not be amended except by an instrument in writing signed on behalf of each of the parties hereto and, following the execution of the Merger Agreement, the Company; provided, however, that ONE may amend this letter agreement to reflect any assignment as expressly permitted herein.

 

This letter agreement may be executed in one or more counterparts including by facsimile or other means of electronic transmission, such as by electronic mail in “.pdf” form, each of which shall be deemed to be an original copy of this letter agreement and all of which, when taken together, will be deemed to constitute one and the same agreement.

 

6

 

 

If any provision of this letter agreement is or becomes invalid, illegal or unenforceable in any respect under the law of any jurisdiction: (a) the validity, legality and enforceability under the law of that jurisdiction of any other provision; and (b) the validity, legality and enforceability under the law of any other jurisdiction of that or any other provision, in each case shall not be affected or impaired in any way; provided, however, that this letter agreement may not be enforced without giving effect to the second paragraph, the third paragraph, the fourth paragraph, the seventh paragraph and to the cap on the ONE Commitment.

 

ONE hereby represents and warrants with respect to itself to Bidco that (a) it has all legal entity power and authority to execute, deliver, and perform the obligations under this letter agreement, (b) the execution, delivery, and performance of this letter agreement by ONE has been duly and validly authorized and approved by all necessary legal entity action by it, (c) this letter agreement has been duly and validly executed and delivered by it and constitutes a valid and legally binding obligation of it, enforceable against it in accordance with the terms of this letter agreement, except as enforcement hereof may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights or by general equity principles, (d) the execution, delivery and performance of this letter agreement by ONE does not violate or result in a breach or default under (i) the organizational or governance documents of ONE, (ii) any material document or agreement to which ONE is a party or otherwise binding on ONE, or (iii) subject to obtaining any necessary regulatory approvals for the consummation of the funding of the ONE Commitment pursuant to this letter agreement and the Closing, any applicable Law unless the failure to receive such regulatory approval would not adversely affect the ability of ONE to consummate the funding of the ONE Commitment, and (e) it has the financial capacity, and will maintain such financial capacity through the termination hereof, to pay and perform its obligations under this letter agreement, and all funds necessary for ONE to fulfill the ONE Commitment shall be available to ONE for so long as this letter agreement shall remain in effect.

 

[Remainder of page intentionally left blank]

 

7

 

 

  Very truly yours,
     
                   OCEAN NETWORK EXPRESS PTE. LTD.
     
  By:         
  Name: Jeremy Nixon
  Title: Chief Executive Officer

 

Accepted and Acknowledged as of the date first written above:                                             
     
POSEIDON ACQUISITION CORP.  
     
By:             
Name:  
Title:  

 

 



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