Company: KG
Filing Date: 2025-03-24
Form Type: S-4/A
Source: 0001104659-25-027242
Chunk: 503

Company: Kestrel Group Ltd
Filing Date: 2025-03-24
Form: S-4/A
Chunk 503
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“ Transfer ” means to, directly or indirectly, sell, transfer, assign or similarly dispose of Common Shares but, in each case, excluding (i) pledges and other security interest grants, (ii) hedging and derivative transactions and (iii) any pro rata dividend, distribution or other disposition of Common Shares to the equity holders of a Qualified Shareholder. The terms “Transferring,” “Transferee,” “Transferred” or other similar words have correlative meanings to “Transfer.” “ Unaffiliated Company Directors ” means any director that qualifies as an independent director pursuant to the rules of Nasdaq and any other applicable securities exchange on which the Common Shares are then listed and applicable rules of the SEC. “ Underwritten Offering ” means a registration in which Company Securities are sold to an underwriter or underwriters on a firm commitment basis. (b) Other Definitions . In addition to the defined terms set forth in Section 1(a) , as used in this Agreement, each of the following capitalized terms has the meaning specified in the Section set forth opposite such term below.

| Term                              | ​ | ​ |  Section | ​ |
| Agreement                         | ​ | ​ | Preamble | ​ |
| Company                           | ​ | ​ | Preamble | ​ |
| Company Bye-laws                  | ​ | ​ |    17(d) | ​ |
| Company Group                     | ​ | ​ | 18(a)(i) | ​ |
| Company Memorandum of Association | ​ | ​ |    17(d) | ​ |
| Damages                           | ​ | ​ |     8(a) | ​ |
| Demand Notice                     | ​ | ​ |  3(a)(i) | ​ |
| Demand Period                     | ​ | ​ |     3(e) | ​ |
| Demand Registration               | ​ | ​ |  3(a)(i) | ​ |
| Demand Suspension                 | ​ | ​ |     3(h) | ​ |
| Director                          | ​ | ​ |    17(a) | ​ |
| Executive Holder Designee         | ​ | ​ |    17(a) | ​ |
| Holder                            | ​ | ​ | Preamble | ​ |
| Holder Designees                  | ​ | ​ |    17(a) | ​ |
| Holder Information                | ​ | ​ |    16(b) | ​ |
| Indemnified Party                 | ​ | ​ |       10 | ​ |
| Indemnifying Party                |