Company: KG
Filing Date: 2025-06-03
Form Type: S-8
Source: 0001104659-25-056034
Chunk: 5

Company: Kestrel Group Ltd
Filing Date: 2025-06-03
Form: S-8
Chunk 5
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+   |     | Kestrel Group Ltd 2025 Equity Incentive Plan (incorporated by reference to Exhibit 10.49 to the Company’s Registration Statement on Form S-4 (File No. 333-285664), filed on March 26, 2025 with the SEC).                                                  |
| 107     |     | Filing Fee Table.                                                                                                                                                                                                                                           |

+ Indicates management contract or compensatory plan.

Item 9. Undertakings.

A. The Company hereby undertakes:

(1) To file, during any period
in which offers or sales are being made, a post-effective amendment to this registration statement:

(i) to include any prospectus
required by Section 10(a)(3) of the Securities Act;

(ii) to reflect in the prospectus
any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof)
that, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding
the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed
that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the
form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent
no more than a 20% change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table
in the effective registration statement; and

(iii) to include any material information
with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information
in the registration statement;

provided, however, that paragraphs (A)(1)(i) and (A)(1)(ii) do not apply if the registration statement is on Form S-8,
and the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished
to the Commission by the Company pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference
in this registration statement.

(2) That, for the purpose of determining
any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating
to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial