Company: KG
Filing Date: 2025-06-03
Form Type: S-8
Source: 0001104659-25-056034
Chunk: 3

Company: Kestrel Group Ltd
Filing Date: 2025-06-03
Form: S-8
Chunk 3
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 of Bermuda (the “Act”) provides generally that a Bermuda company
may indemnify its directors, officers and auditors employed by the company against any liability which by virtue of rule of law or
otherwise would be imposed on them, except in cases where such liability arises from fraud or dishonesty of which such director, officer
or auditor may be guilty in relation to the company. Section 98 further provides that a Bermuda company may indemnify its directors,
officers and auditors against any costs and expenses incurred by them in defending any proceedings, whether civil or criminal, in which
judgment is awarded in their favor or they are acquitted or in which they are acquitted or granted relief by the Supreme Court of Bermuda
in certain proceedings arising under Section 281 of the Act. Section 98 also provides that a Bermuda company may advance
moneys to an officer or auditor for the costs, charges and expenses incurred by the officer or auditor in defending any civil or criminal
proceedings against them, on condition that the officer or auditor shall repay the advance if any allegation of fraud or dishonesty is
proved against them.

Section 61 of the Registrant’s bye-laws
provides that the officers and directors of the Registrant shall be indemnified and secured harmless out of the assets of the Registrant
from and against all actions, costs, charges, losses, damages and expenses which they or any of them, their heirs, executors or administrators,
shall or may incur or sustain by or by reason of any act done, concurred in or omitted in or about the execution of their duty, or supposed
duty, or in their respective offices or trusts, and none of them shall be answerable for the acts, receipts, neglects or defaults of the
others of them or for joining in any receipts for the sake of conformity, or for any bankers or other persons with whom any moneys or
effects belonging to the Registrant shall or may be lodged or deposited for safe custody, or for insufficiency or deficiency of any security
upon which any moneys of or belonging to the Registrant shall be placed out on or invested, or for any other loss, misfortune or damage
which may happen in the execution of their respective offices or trusts, or in relation thereto, provided that this indemnity shall not
extend to any matter in respect of any fraud or dishonesty (as determined in a final judgment or decree not subject to appeal) on the
part of any such officer