Company: KG
Filing Date: 2025-03-10
Form Type: S-4
Source: 0001104659-25-021993
Chunk: 618

Company: Kestrel Group Ltd
Filing Date: 2025-03-10
Form: S-4
Chunk 618
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 of the corporation and (ii) with respect to any criminal action or proceeding, if the director or officer had no reasonable cause to believe his conduct was unlawful. Under the Bermuda NewCo bye-laws, Bermuda NewCo shareholders agree to waive any claim or right of action, other than those involving fraud or dishonesty, against Bermuda NewCo or any of its officers or directors. In addition, Bermuda NewCo will enter into indemnification agreements with its directors and officers. ITEM 21. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES (a) The following exhibits are filed herewith or incorporated herein by reference:

| Exhibit No. 
 2.1         
 2.2         | ​ 
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 ​ 
 ​ | Description                                                                                                                                                                                                               
 Combination Agreement, dated as of December 29, 2024, by and among Maiden, Kestrel, Bermuda NewCo, Merger Sub I, Merger Sub II, US NewCo and the Kestrel equityholders (filed as Annex A hereto)†                         
 Letter Agreement, amending the Combination Agreement, dated February 17, 2025, by and among Maiden, Kestrel, Bermuda NewCo, Merger Sub I, Merger Sub II, US NewCo and the Kestrel equityholders (filed as Annex A hereto) | ​ 
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 ​ |
|:------------|:--|:--|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:--|
| 3.1         | ​ | ​ | Form of US NewCo LLC Agreement                                                                                                                                                                                            | ​ |
| 3.2         | ​ | ​ | Memorandum of Association of Bermuda NewCo                                                                                                                                                                                | ​ |
| 3.3         | ​ | ​ | Bye-Laws of Bermuda NewCo                                                                                                                                                                                                 | ​ |
| 4.1         | ​ | ​ | Form of Registration and Investor Rights Agreement — Ledbetter (filed as Annex B-1 hereto)                                                                                                                                | ​ |
| 4.2         | ​ | ​ | Form of Registration and Investor Rights Agreement — Amtrust (filed as Annex B-2 hereto)                                                                                                                                  | ​ |
| 5.1         | ​ | ​ | Form of Opinion of Appleby (Bermuda) Limited regarding legality of securities being registered                                                                                                                            | ​ |
| 10.1        | ​ | ​ | Form of Voting Agreement (filed as Annex B-3