Company: KG
Filing Date: 2025-03-24
Form Type: S-4/A
Source: 0001104659-25-027242
Chunk: 209

Company: Kestrel Group Ltd
Filing Date: 2025-03-24
Form: S-4/A
Chunk 209
---
holder Litigation Matter
The parties have agreed that from and after the closing, Bermuda NewCo will indemnify, defend and hold harmless each of the Kestrel equityholders from and against all litigation losses arising out of the Noteholder Litigation, in each case, based upon each Kestrel equityholder’s pro rata ownership percentage of Bermuda NewCo immediately following the closing.

If a settlement or judgment in respect of the Noteholder Litigation occurs at least ten business days prior to the closing, within five business days following the settlement of, or the rendering of any judgment with respect to, the Noteholder Litigation, Maiden has agreed that Maiden will provide written notice to Kestrel setting forth in reasonable detail the amount of all litigation losses arising out of the Noteholder Litigation, and whether Maiden elects to pay the aggregate of such Kestrel equityholder’s applicable percentage of such litigation losses in cash or duly authorized, validly issued, fully paid and nonassessable US NewCo limited liability company interests or a combination thereof.

If a settlement or judgment in respect of the Noteholder Litigation occurs less than ten business days prior to the closing, on the later of five business days following (i) the closing or (ii) the settlement of, or rendering of any judgment with respect to, the Noteholder Litigation, Maiden has agreed that Maiden will provide written notice to Kestrel setting forth in reasonable detail the amount of all litigation losses arising out of the Noteholder Litigation, and whether Maiden elects to pay the aggregate of such Kestrel equityholder’s applicable percentage of such litigation losses in cash or duly authorized, validly issued, fully paid and nonassessable Bermuda NewCo common shares or a combination thereof.

#### Indemnification and Insurance
The parties have agreed that for six years from and after the closing, Bermuda NewCo will, and will cause Kestrel and Maiden, as applicable, to (i) indemnify, defend and hold harmless each person who (x) at the second merger effective time is, or at any time prior to Kestrel contribution effective time was, a director or officer of Kestrel or of a subsidiary of Kestrel or (y) at the second merger effective time is, or at any time prior to the first merger effective time was, a director or officer of Maiden or of a subsidiary of Maiden (each, together with such person’s heirs, executors and administrators, an “indemnitee”) with respect to all claims