Company: KG
Filing Date: 2025-03-10
Form Type: S-4
Source: 0001104659-25-021993
Chunk: 315

Company: Kestrel Group Ltd
Filing Date: 2025-03-10
Form: S-4
Chunk 315
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 NewCo or any Material Bermuda NewCo Subsidiary under any applicable law relating to bankruptcy, insolvency or reorganization; or (c) both Terry Ledbetter and Luke Ledbetter are either terminated “without cause” or terminate their employment with Bermuda NewCo or any of its Subsidiaries for “good reason,” in each case, pursuant to the applicable Employment Agreement.

“ Acceleration Payment ” has the meaning set forth in Section 2.01(g) .

“ Acceptable Confidentiality Agreement ” means any confidentiality agreement entered into by Parent from and after the date of this Agreement that contains provisions that are not less favorable in the aggregate to Parent than those contained in the Confidentiality Agreement and does not prohibit Parent from complying with its obligations set forth in Section 7.03 .

“ Action ” means any action, suit or proceeding by or before any Governmental Authority.

“ Adverse Recommendation Change ” has the meaning set forth in Section 7.03(d) .

“ Adverse Recommendation Change Termination Fee ” has the meaning set forth in Section 9.03(a)(ii) .

“ Affiliate ” means, as to any Person, any other Person that, directly or indirectly, controls, or is controlled by, or is under common control with, such Person. For this purpose, “control” (including, with its correlative meanings, “controlled by” and “under common control with”) shall mean the possession, directly or indirectly, of the power to direct or cause the direction of management or policies of a Person, whether through the ownership of securities or partnership or other ownership interests, by Contract or otherwise. The parties acknowledge and agree that, when used in reference to Parent and its Subsidiaries or the Company and its Subsidiaries, “Affiliate” in each case does not include AmTrust or any of its Subsidiaries.

“ Agreement ” has the meaning set forth in the preamble.

“ Allocation Schedule ” has the meaning set forth in Section 2.01(a)(iii) .

“ Amended and Restated Option Agreement ” means that certain Amended and Restated Option Agreement, by and between the Company and AmTrust, in the form attached hereto as Exhibit K .

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“ AmTrust ” means AmTrust Financial Services, Inc.

“ AmTrust Registration and Investor Rights Agreements ” means that certain Registration and Investor Rights Agreement, by and between Bermuda NewCo and AmTrust, in the form attached her