Document:

Exhibit 10.1

      

      

      Execution Version

      

      

      VOTING AND SUPPORT AGREEMENT

      

      

      VOTING AND SUPPORT AGREEMENT, dated as of February 16, 2021 (this “Agreement”), is made and entered into by and between WATFORD HOLDINGS LTD., a Bermuda
        exempted company (the “Company”), and THE UNDERSIGNED SHAREHOLDERS (collectively, the “Shareholders” and each, a “Shareholder”)
        of the Company.  Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Merger Agreement (as defined below).

      

      

      RECITALS

      

      

      WHEREAS, the Company, Arch Capital Group Ltd., a Bermuda exempted company limited by shares (“Parent”), and Greysbridge Ltd., a Bermuda exempted company
        limited by shares and a wholly owned subsidiary of Parent (“Merger Sub”), have entered into that certain Agreement and Plan of Merger (as it may be amended from time to time, the “Merger Agreement”), pursuant to which, among other things, Merger Sub will be merged with and into the Company (the “Merger”), with the Company continuing as the surviving company as a wholly
        owned subsidiary of Parent;

      

      

      WHEREAS, as a condition and inducement to the Company’s willingness to enter into the Merger Agreement and to proceed with the transactions contemplated thereby, including the Merger, the Company
        and Arch Reinsurance Ltd. (“Arch”) entered into a Voting and Support Agreement, dated as of October 9, 2020 (the “Arch Voting and Support Agreement”), pursuant to which
        Arch agreed to vote the common shares of the Company owned by Arch in favor of the Merger, as set forth therein;

      

      

      WHEREAS, subsequent to entering into the Merger Agreement and the Arch Voting and Support Agreement, and pursuant to that certain Purchase Agreement, dated as of February 16, 2021 (the “Purchase Agreement”), by and between each Shareholder and Arch, Arch sold to the Shareholders, and the Shareholders purchased from Arch, the Shares (the “Sale”);

      

      

      WHEREAS, in connection with the Sale and pursuant to the terms of the Purchase Agreement, each Shareholder agreed to enter into this Agreement and vote the Shares in favor of the Merger;

      

      

      WHEREAS, as of the date hereof, each Shareholder is the record or beneficial owner of the number and type of equity interests of the Company (“Shares”) set
        forth on Schedule A hereto (the shares listed on Schedule A (as it may be amended pursuant to Section 5 of this Agreement), together with any additional Shares or other voting securities of the Company which such Shareholder owns of record or
        beneficially as of the date hereof or of which such Shareholder acquires after the date hereof record or beneficial ownership, including by purchase, as a result of a share dividend, share split, recapitalization, combination, reclassification,
        redesignation or exchange, upon exercise or conversion of any options, warrants or other securities, or otherwise, “Covered Shares”);

      

      

      WHEREAS, as a condition and inducement to the Company’s willingness to waive Arch’s compliance with the transfer restrictions related to the Shares under the Arch Voting and Support Agreement in
        connection with the Sale, the Company and each Shareholder are entering into this Agreement; and

      

      

      NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements herein contained and for other good and valuable consideration, the receipt of which is hereby
        acknowledged, and intending to be legally bound hereby, the Company and each Shareholder hereby agree as follows:

      

      

      
        
          

      

      
      

      

      AGREEMENT

      

      

      1.          Agreement to Vote.  From the date hereof until the earlier of the Termination Date (as defined below) or the receipt of the Company Shareholder
        Approval, each Shareholder irrevocably and unconditionally agrees that it shall at any meeting of the shareholders of the Company (whether annual, special or otherwise and whether or not an adjourned or postponed meeting), however called, or in
        connection with any written consent of shareholders of the Company, however proposed: (a) when a meeting is held, appear at such meeting or otherwise cause its Covered Shares that are owned by such Shareholder as of the date of such meeting to be
        counted as present thereat for the purpose of establishing a quorum, and when a written consent is proposed, respond to each request by the Company for written consent, and (b) vote or consent, or cause to be voted at such meeting or cause such
        consent to be granted with respect to, all Covered Shares that are owned by such Shareholder as of the date of such meeting or consent (i) in favor of the Merger and the adoption of the Merger Agreement and the Statutory Merger Agreement (each as
        they may be amended from time to time), and in favor of each of the other transactions contemplated by the Merger Agreement and the Statutory Merger Agreement of which approval of the Company’s shareholders is solicited, and (ii) against (A) any
        proposal for any recapitalization, reorganization, liquidation, dissolution, amalgamation, merger, sale of assets or other business combination between or involving the Company and any other Person that would reasonably be expected to impede,
        interfere with, delay or postpone or adversely affect in any material respect the Merger or any other transactions contemplated by the Merger Agreement, the Statutory Merger Agreement or this Agreement, (B) any other action that would be reasonably
        likely to result in any conditions to the consummation of the Merger under the Merger Agreement not being fulfilled, (C) any amendment or other change to the Company Memorandum of Association or Company Bye-laws that would reasonably be expected to
        impede, interfere with, delay, postpone or adversely affect in any material respect the Merger or any of the other transactions contemplated by the Merger Agreement, the Statutory Merger Agreement or this Agreement, and (D) any other material
        change in the Company’s corporate structure or business that would reasonably be expected to impede, interfere with, delay or postpone or adversely affect in any material respect the Merger or any of the other transactions contemplated by the
        Merger Agreement or the Statutory Merger Agreement.

      

      

      2.          No Inconsistent Agreements.  Each Shareholder hereby represents, covenants and agrees, solely as to itself and on its own behalf, that, except as
        contemplated by this Agreement, such Shareholder (a) has not entered into, and shall not enter into at any time prior to the Termination Date, any voting agreement, voting trust or other agreement that directly or indirectly addresses voting with
        respect to any Covered Shares and (b) has not granted, and shall not grant at any time prior to the Termination Date, a proxy or power of attorney with respect to any Covered Shares, in either case, which is inconsistent with such Shareholder’s
        obligations pursuant to this Agreement.

      

      

      3.          Termination.  This Agreement shall terminate upon the earliest of (a) the Closing, (b) the date that the Merger Agreement is terminated, (c) an
        Adverse Recommendation Change and (d) the delivery of written notice of termination of this Agreement by the Company to the Shareholders (such earliest date, the “Termination Date”); provided, that the provisions set forth in Sections 10 and 12 through 24 shall survive the termination of this Agreement; provided
          further, that any liability incurred by any party hereto as a result of a breach of a term or condition of this Agreement prior to such termination shall survive the termination of this Agreement.

      

      

      4.          Representations and Warranties of the Shareholders.  Each Shareholder hereby represents and warrants, solely as to itself and on its own behalf,
        to the Company as follows:

      

      

      (a)          Schedule A lists all shares and other equity interests owned of record or beneficially by such Shareholder in the Company as of the date hereof.  Schedule A lists all options, warrants
        and other securities convertible into or exercisable or exchangeable for shares and other equity interests in the Company owned of record or beneficially by such Shareholder as of the date hereof.  Except as set forth on Schedule A, as of the date
        hereof, such Shareholder does not own of record or beneficially any voting securities or other equity securities in the Company or any securities convertible into or exercisable or exchangeable for any such voting securities or other equity
        securities.  Such Shareholder does not own of record any shares which are beneficially owned by a third Person.

      

      

      
        2

        
          

      

      

      

      (b)          Such Shareholder is the record or beneficial owner of, and has good and valid title to, all Covered Shares as of the date hereof, free and clear of all liens, pledges, restrictions and
        other encumbrances (a “Lien”), other than (i) as created by this Agreement, (ii) as created by any applicable securities Laws, (iii) under the Company Memorandum of Association or Company Bye-Laws or (iv) as
        would not impair such Shareholder’s ability to perform its obligations under this Agreement.  Such Shareholder has sole voting power, sole power of disposition and sole power to agree to all of the matters set forth in this Agreement, in each case
        with respect to all of such Covered Shares, with no limitations, qualifications or restrictions on such rights.  Such Covered Shares are not subject to any voting trust agreement or other contract, in each case that is inconsistent with this
        Agreement, to which such Shareholder is a party restricting or otherwise relating to the voting or sale (constructive or otherwise), transfer, pledge, hypothecation, grant, gift, encumbrance, assignment or other disposal (collectively, “Transfer”) of such Covered Shares.  Such Shareholder has not appointed or granted any proxy or power of attorney that is still in effect with respect to such Covered Shares, except as contemplated by this
        Agreement.

      

      

      (c)          Such Shareholder has full legal power and capacity to execute and deliver this Agreement and to perform such Shareholder’s obligations hereunder.  This Agreement has been duly and
        validly executed and delivered by such Shareholder and, assuming due authorization, execution and delivery by the Company, constitutes a legal, valid and binding obligation of such Shareholder, enforceable against such Shareholder in accordance
        with its terms, except as enforcement may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally and by general principles of equity (regardless of whether considered in a
        proceeding in equity or at law).

      

      

      (d)          Except for the applicable requirements of the Exchange Act, (i) no filing with, and no permit, authorization, consent or approval of, any governmental entity is necessary on the part
        of such Shareholder for the execution, delivery and performance of this Agreement by such Shareholder or the consummation by such Shareholder of the transactions contemplated hereby and (ii) none of the execution, delivery or performance of this
        Agreement by such Shareholder or the consummation by such Shareholder of the transactions contemplated hereby or compliance by such Shareholder with any of the provisions hereof shall (A) result in any breach or violation of, or constitute a
        default (or an event which, with notice or lapse of time or both, would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, or result in the creation of a Lien on any property or asset
        of such Shareholder pursuant to, any contract to which such Shareholder is a party or by which such Shareholder or any property or asset of such Shareholder is bound or affected or (B) violate any order, writ, injunction, decree, statute, law, rule
        or regulation applicable to such Shareholder or any of the Shareholder’s properties or assets except, in the case of clause (A) or (B), for breaches, violations or defaults that would not, individually or in the aggregate, materially impair the
        ability of such Shareholder to perform its obligations hereunder on a timely basis.

      

      

      (e)          There is no action, suit, claim, arbitration, investigation, complaint, inquiry or other proceeding pending against such Shareholder or, to the actual knowledge of such Shareholder,
        any other Person or, to the actual knowledge of such Shareholder, threatened against each Shareholder that restricts or prohibits (or, if successful, would restrict or prohibit) the exercise by the Company of its rights under this Agreement or the
        performance by such Shareholder of its obligations under this Agreement on a timely basis.

      

      

      (f)          Such Shareholder understands and acknowledges that the Company is waiving Arch’s compliance with the transfer restrictions related to the Shares under the Arch Voting and Support
        Agreement in connection with the Sale in reliance upon such Shareholder’s execution and delivery of this Agreement and the representations and warranties and covenants of such Shareholder contained herein and would not consent to the Sale if such
        Shareholder did not enter into this Agreement.

      

      

      5.          Certain Covenants of the Shareholders.  Each Shareholder hereby covenants and agrees, solely as to itself and on its own behalf, as follows:

      

      

      (a)          Except as contemplated hereby and until the earliest of the Termination Date or the receipt of the Company Shareholder Approval, such Shareholder shall not (i) tender any Covered
        Shares into any tender or exchange offer, (ii) Transfer or enter into any contract with respect to the Transfer of any of the Covered Shares or beneficial ownership or voting power thereof or therein (including by operation of law), (iii) grant any
        proxies or powers of attorney, deposit any Covered Shares into a voting trust or enter into a voting agreement with respect to any Covered Shares that is inconsistent with this Agreement or (iv) take any action that would make any representation or
        warranty of such Shareholder contained herein untrue or incorrect in any material respect or have the effect of preventing or disabling such Shareholder from performing its obligations under this Agreement in any material respect.  Any Transfer in
        violation of this Section 5(a) shall be void.

      

      

      
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      (b)          In the event that such Shareholder acquires record or beneficial ownership of, or the power to vote or direct the voting of, any additional Shares or other voting interests with
        respect to the Company, such Shares or voting interests shall, without further action of the parties, be deemed Covered Shares and subject to the provisions of this Agreement, and the number of Shares held by such Shareholder set forth on Schedule
        A hereto will be deemed amended accordingly and such Shares or voting interests shall automatically become subject to the terms of this Agreement.  Such Shareholder shall promptly notify the Company of any such event.

      

      

      6.          [Reserved].

      

      

      7.          No Ownership Interest.  Nothing contained in this Agreement shall be deemed to vest in the Company any direct or indirect ownership or incidence
        of ownership of or with respect to any Covered Shares.  All ownership and economic benefits of and relating to the Covered Shares shall remain vested in and belong to the Shareholder that owns such Covered Shares, and, except as otherwise provided
        herein, the Company shall have no authority to direct any Shareholder in the voting or disposition of any Covered Shares.

      

      

      8.          Disclosure.  Each party hereto hereby authorizes the Company to publish and disclose in any announcement or disclosure the Shareholders’ identity
        and ownership of the Covered Shares and the nature of the Shareholders’ obligations under this Agreement, and to disclose a copy of this Agreement, in each case, to the extent required by applicable Law.

      

      

      9.          Merger Agreement.  Each Shareholder hereby acknowledges receipt of, and has had an opportunity to read and understand, the Merger Agreement
        (including any exhibits and schedules thereto).

      

      

      10.          Expenses.  Except as otherwise expressly provided herein, the Shareholders, on the one hand, and the Company, on the other hand, shall pay all
        of their own expenses (including attorneys’ and accountants’ fees and expenses) in connection with the negotiation of this Agreement, the performance of their respective obligations hereunder and the consummation of the transactions contemplated by
        this Agreement.

      

      

      11.          Further Assurances.  From time to time, at the request of the other parties hereto and without further consideration, each party hereto shall
        take such further action as may reasonably be deemed by any of the other parties hereto to be necessary or desirable to consummate and make effective the transactions contemplated by this Agreement.

      

      

      12.          Amendment or Supplement.  This Agreement may not be amended, modified or supplemented in any manner, whether by course of conduct or otherwise,
        except by an instrument in writing specifically designated as an amendment hereto, signed on behalf of each party hereto.

      

      

      13.          Waiver.  No failure or delay of any party in exercising any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or
        partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such right or power, or any course of conduct, preclude any other or further exercise thereof or the exercise of any other right or power.  The
        rights and remedies of the parties hereunder are cumulative and are not exclusive of any rights or remedies which they would otherwise have hereunder.  Any agreement on the part of a party to any such waiver shall be valid only if set forth in a
        written instrument executed and delivered by such party or by a duly authorized officer on behalf of such party.

      

      

      14.          Interpretation.  When a reference is made in this Agreement to an Article, a Section or an Exhibit, such reference shall be to an Article, a
        Section or an Exhibit of or to this Agreement unless otherwise indicated.  The table of contents, index of defined terms and headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or
        interpretation of this Agreement.  Any capitalized term used in any Exhibit but not otherwise defined therein shall have the meaning assigned to such term in this Agreement.  Whenever the words “include,” “includes” or “including” are used in this
        Agreement, they shall be deemed to be followed by the words “without limitation.” The words “hereof,” “hereto,” “hereby,” “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and
        not to any particular provision of this Agreement.  The term “or” is not exclusive.  The word “extent” in the phrase “to the extent” shall mean the degree to which a subject or other thing extends, and such phrase shall not mean simply “if.” The
        definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms.  All pronouns and any variations thereof refer to the masculine, feminine or neuter as the context may require.  Any agreement,
        instrument or Law defined or referred to herein means such agreement, instrument or Law as from time to time amended, modified or supplemented, unless otherwise specifically indicated.  References to a Person are also to its permitted successors
        and assigns.  Unless otherwise specifically indicated, all references to “$” will be deemed references to the lawful money of the United States of America.  The parties hereto have participated jointly in the negotiation and drafting of this
        Agreement.  In the event an ambiguity or a question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto, and no presumption or burden of proof shall arise favoring or disfavoring by
        virtue of the authorship of any provisions of this Agreement.

      

      

      
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      15.          Notices.  All notices, requests, claims, demands and other communications under this Agreement shall be in writing and shall be deemed duly
        given (a) on the date of delivery if delivered personally; (b) on the date sent if sent by facsimile or electronic mail (provided, however, that notice given by facsimile or email shall not be effective unless either (i) a duplicate copy of such facsimile or email notice is promptly given by one of the other methods described in this Section 15 or (ii) the receiving
        party delivers a written confirmation of receipt of such notice either by facsimile or email or any other method described in this Section 15; (c) on the first Business Day following the date of dispatch if delivered utilizing a next-day service by
        a recognized next- day courier; or (d) on the earlier of confirmed receipt or the fifth Business Day following the date of mailing if delivered by registered or certified mail, return receipt requested, postage prepaid.  All notices hereunder shall
        be delivered to the addresses set forth below, or pursuant to such other instructions as may be designated in writing by the party to receive such notice:

      

      

      (i)          If to the Shareholders:

      

      

      c/o Kelso & Company

      320 Park Avenue, 24th Floor

      New York, NY 10022

      Attention: William Woo

      Email: wwoo@kelso.com

      

      

      with copies to (which shall not constitute notice):

      

      

      Debevoise & Plimpton, LLP

      919 Third Avenue

      New York NY 10022

      Attention: Michael A. Diz

      Email: madiz@debevoise.com

      

      

      (ii)          If to the Company:

      

      

      Watford Holdings Ltd.

      Waterloo House, 1st Floor

      100 Pitts Bay Road

      Pembroke HM 08, Bermuda

      
        	

              	Email:	
                lbr@watfordholdings.com

              

      

      
        	

              	Attention:	
                Laurence Richardson

                

              

      

      

      with copies to (which shall not constitute notice):

      

      

      Clifford Chance US LLP

      31 West 52nd Street, 3rd Floor

      New York, New York  10019

      	

            	Email:	
              gary.boss@cliffordchance.com

                john.healy@cliffordchance.com

            

      	

            	Attention:	
              Gary Boss

                John A. Healy

            

      

      

      
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      16.          Entire Agreement.  This Agreement constitutes the entire agreement, and supersede all prior written agreements, arrangements, communications and
        understandings and all prior and contemporaneous oral agreements, arrangements, communications and understandings between the parties with respect to the subject matter hereof.

      

      

      17.          No Third-Party Beneficiaries.  Nothing in this Agreement, express or implied, is intended to or shall confer upon any Person other than the
        parties and their respective successors and permitted assigns any legal or equitable right, benefit, claim or remedy of any nature under or by reason of this Agreement.

      

      

      18.          Non-Recourse.  This Agreement may only be enforced against, and any claim or cause of action based upon, arising out of or related to this
        Agreement may only be brought against, the Persons that are expressly named as parties to this Agreement.  Except to the extent named as a party to this Agreement, and then only to the extent of the specific obligations of such parties set forth in
        this Agreement, no past, present or future shareholder, member, partner, manager, director, officer, employee, Affiliate, agent or representative of any party to this Agreement will have any Liability (whether in contract, tort, equity or
        otherwise) for any of the representations, warranties, covenants, agreements or other obligations or Liabilities of any of the parties to this Agreement or for any claim based upon, arising out of or related to this Agreement.

      

      

      19.          Governing Law.  THIS AGREEMENT, INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE AND ANY ACTION, PROCEEDING OR COUNTERCLAIM
        (WHETHER IN CONTRACT, TORT, EQUITY OR OTHERWISE) DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT OR THE NEGOTIATION, ADMINISTRATION, PERFORMANCE AND ENFORCEMENT HEREOF,
        SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF DELAWARE, REGARDLESS OF THE LAWS THAT MIGHT OTHERWISE GOVERN UNDER ANY APPLICABLE PRINCIPLES OF CHOICE OR CONFLICTS OF LAWS OF THE STATE OF DELAWARE, EXCEPT TO THE
        EXTENT THE PROVISIONS OF THE LAWS OF BERMUDA ARE MANDATORILY APPLICABLE TO THE MERGER.

      

      

      20.          Specific Enforcement; Jurisdiction; Venue.  The parties acknowledge and agree that irreparable damage would occur in the event that any of the
        provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached, and that monetary damages, even if available, would not be an adequate remedy therefor.  It is accordingly agreed that the parties
        shall be entitled to an injunction or injunctions to prevent breaches or threatened breaches of this Agreement and to enforce specifically the performance of the terms and provisions of this Agreement, including failing to take such actions as are
        required of them hereunder to consummate the transactions contemplated hereby.  It is agreed that the parties are entitled to enforce specifically the performance of terms and provisions of this Agreement in any court referred to below, without
        proof of actual damages (and each party hereby waives any requirement for the securing or posting of any bond in connection with such remedy), this being in addition to any other remedy to which they are entitled at law or in equity.  The parties
        further agree not to assert that a remedy of specific enforcement is unenforceable, invalid, contrary to Law or inequitable for any reason, nor to assert that a remedy of monetary damages would provide an adequate remedy for any such breach.  In
        addition, each of the parties hereto irrevocably agrees that any legal action or proceeding arising out of or relating to this Agreement brought by any party or its Affiliates against any other party or its Affiliates shall be brought and
        determined in the Court of Chancery of the State of Delaware; provided, that if jurisdiction is not then available in the Court of Chancery of the State of Delaware,
        then any such legal action or proceeding may be brought in any federal court located in the State of Delaware or any other Delaware state court, in each case, except to the extent that any such proceeding mandatorily must be brought in Bermuda. 
        Each of the parties hereby irrevocably submits to the jurisdiction of the aforesaid courts for itself and with respect to its property, generally and unconditionally, with regard to any such action or proceeding arising out of or relating to this
        Agreement and the transactions contemplated hereby.  Each of the parties agrees not to commence any action, suit or proceeding relating thereto except in the courts described above in Delaware, other than actions in any court of competent
        jurisdiction to enforce any judgment, decree or award rendered by any such court in Delaware as described herein.  Each of the parties further agrees that notice as provided herein shall constitute sufficient service of process and the parties
        further waive any argument that such service is insufficient.  Each of the parties hereby irrevocably and unconditionally waives, and agrees not to assert, by way of motion or as a defense, counterclaim or otherwise, in any action or proceeding
        arising out of or relating to this Agreement or the transactions contemplated hereby, (a) any claim that it is not personally subject to the jurisdiction of the courts in Delaware as described herein for any reason, (b) that it or its property is
        exempt or immune from jurisdiction of any such court or from any legal process commenced in such courts (whether through service of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or
        otherwise) and (c) that (i) the suit, action or proceeding in any such court is brought in an inconvenient forum, (ii) the venue of such suit, action or proceeding is improper or (iii) this Agreement, or the subject matter hereof, may not be
        enforced in or by such courts.

      

      

      
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      21.          Assignment; Successors.  Neither this Agreement nor any of the rights, interests or obligations under this Agreement may be assigned or
        delegated, in whole or in part, by operation of law or otherwise, by either party without the prior written consent of the other party, and any such assignment without such prior written consent shall be null and void.  Subject to the preceding
        sentence, this Agreement will be binding upon, inure to the benefit of, and be enforceable by, the parties and their respective successors and assigns.

      

      

      22.          Severability.  If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule or Law, or public
        policy, (a) such term or other provision shall be fully separable, (b) this Agreement shall be construed and enforced as if such invalid, illegal or unenforceable provision had never comprised a part hereof, and (c) all other conditions and
        provisions of this Agreement shall nevertheless remain in full force and effect so long as either the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party or such party
        waives its rights under this Section 22 with respect thereto.  Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so
        as to effect the original intent of the parties as closely as possible in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the extent possible.

      

      

      23.          Waiver of Jury Trial.  EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY
        JURY IN RESPECT OF ANY SUIT, ACTION OR OTHER PROCEEDING ARISING OUT OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT.  EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS
        REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SUIT OR PROCEEDING, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS
        AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER AND CERTIFICATIONS IN THIS SECTION 23.

      

      

      24.          Counterparts.  This Agreement may be executed in one or more counterparts, including by facsimile or by email with .pdf attachments, all of
        which shall be considered one and the same agreement, and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other parties.

      

      

      25.          Affiliates.  Each Shareholder hereby covenants and agrees that it shall cause each of its respective Affiliates to comply with this Agreement as
        if each such Affiliate was itself a party to this Agreement.  For purposes of this Agreement, “Affiliate” means, with respect to any Person, any other Person that directly or indirectly controls, is
        controlled by, or is under common control with, such first Person, except, in the case of each Shareholder, any portfolio company of any investment fund affiliated with such Shareholder.  For purposes of this definition, “control” (including, the terms “controlling,” “controlled by,” and “under common control with”), as applied to any person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management
        and policies of that Person, whether through the ownership of voting securities, by Contract, or otherwise.

      

      

      [The remainder of this page is intentionally left blank; signature page follows.]

      

      

      
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      IN WITNESS WHEREOF, the Company and each Shareholder have caused to be executed or executed this Agreement as of the date first written above.

      

      

      	 	
              WATFORD HOLDINGS LTD.

            	 
	 	 	 	 	 
	 	
              By:

            	
              /s/ Laurence B. Richardson

            	 
	 	 	
              Name:

            	
              Laurence B. Richardson

            	 
	 	 	
              Title:

            	
              COO

            	 

      

      

      

      

      

      

      [Voting and Support Agreement]

      
        
          

      

      

      

      	 	
              KELSO INVESTMENT ASSOCIATES X, L.P.

            	 
	 	 	 	 
	 	
              By: Kelso GP X, L.P., its general partner

            	 
	 	
              By: Kelso GP X, LLC, its general partner

            	 
	 	 	 	 
	 	
              By:

            	
              /s/ William Woo

            	 
	 	
              Name:

            	
              William Woo

            	 
	 	
              Title:

            	
              Managing Member

            	 
	 	 	 	 
	 	
              KEP X, LLC

            	 
	 	 	 	 
	 	
              By: Kelso GP X, L.P., its general partner

            	 
	 	
              By: Kelso GP X, LLC, its general partner

            	 
	 	 	 	 
	 	
              By:

            	
              /s/ William Woo

            	 
	 	
              Name:

            	
              William Woo

            	 
	 	
              Title:

            	
              Managing Member

            	 
	 	 	 	 
	 	
              KSN FUND X, L.P.

            	 
	 	 	 	 
	 	
              By: Kelso GP X, L.P., its general partner

            	 
	 	
              By: Kelso GP X, LLC, its general partner

            	 
	 	 	 	 
	 	
              By:

            	
              /s/ William Woo

            	 
	 	
              Name:

            	
              William Woo

            	 
	 	
              Title:

            	
              Managing Member

            	 

      

      

      
        
          

      

      
      

      

      SCHEDULE A

      

      

      Each Shareholder owns the number of common shares, par value $0.01 per share, set forth opposite such Shareholder’s name below:

      

      

      	
              Shareholder

            	
              Shares

            
	
              Kelso Investment Associates X, L.P.

            	
              204,153

            
	
              KEP X, LLC

            	
              22,459

            
	
              KSN Fund X, L.P.

            	
              3,788

            
	
              Total

            	
              230,400

            

      

      

      

      

    

  

  Sch. A-1Exhibit 10.2

      

      

      Execution Version

      

      

      VOTING AND SUPPORT AGREEMENT

      

      

      VOTING AND SUPPORT AGREEMENT, dated as of February 16, 2021 (this “Agreement”), is made and entered into by and between WATFORD HOLDINGS LTD., a Bermuda exempted company (the “Company”),
        and THE UNDERSIGNED SHAREHOLDER (the “Shareholder”) of the Company.  Capitalized terms used but not defined herein shall have the meanings
        ascribed to them in the Merger Agreement (as defined below).

      

      

      RECITALS

      

      

      WHEREAS, the Company, Arch Capital Group Ltd., a Bermuda exempted company limited by shares (“Parent”), and Greysbridge Ltd., a Bermuda exempted company limited by shares and a wholly owned subsidiary of Parent (“Merger Sub”), have entered into that certain Agreement and Plan of Merger (as it may be amended from time to time, the “Merger Agreement”), pursuant to which, among other things, Merger Sub will be merged with and into the Company (the “Merger”),
        with the Company continuing as the surviving company as a wholly owned subsidiary of Parent;

      

      

      WHEREAS, as a condition and inducement to the Company’s willingness to enter into the Merger Agreement and to proceed with the
        transactions contemplated thereby, including the Merger, the Company and Arch Reinsurance Ltd. (“Arch”) entered into a Voting and Support
        Agreement, dated as of October 9, 2020 (the “Arch Voting and Support Agreement”), pursuant to which Arch agreed to vote the common shares of the
        Company owned by Arch in favor of the Merger, as set forth therein;

      

      

      WHEREAS, subsequent to entering into the Merger Agreement and the Arch Voting and Support Agreement, and pursuant to that certain
        Purchase Agreement, dated as of February 16, 2021 (the “Purchase Agreement”), by and between the Shareholder and Arch, Arch sold to the
        Shareholder, and the Shareholder purchased from Arch, the Shares (the “Sale”);

      

      

      WHEREAS, in connection with the Sale and pursuant to the terms of the Purchase Agreement, the Shareholder agreed to enter into this
        Agreement and vote the Shares in favor of the Merger;

      

      

      WHEREAS, as of the date hereof, the Shareholder is the record or beneficial owner of the number and type of equity interests of the
        Company (“Shares”) set forth on Schedule A hereto (the shares listed on Schedule A (as it may be amended pursuant to Section 5 of this
        Agreement), together with any additional Shares or other voting securities of the Company which the Shareholder owns of record or beneficially as of the date hereof or of which the Shareholder acquires after the date hereof record or beneficial
        ownership, including by purchase, as a result of a share dividend, share split, recapitalization, combination, reclassification, redesignation or exchange, upon exercise or conversion of any options, warrants or other securities, or otherwise, “Covered Shares”);

      

      

      WHEREAS, as a condition and inducement to the Company’s willingness to waive Arch’s compliance with the transfer restrictions related
        to the Shares under the Arch Voting and Support Agreement in connection with the Sale, the Company and the Shareholder are entering into this Agreement; and

      

      

      NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements herein contained and for other good and
        valuable consideration, the receipt of which is hereby acknowledged, and intending to be legally bound hereby, the Company and the Shareholder hereby agree as follows:

      

      

      
        
          

      

      
      

      

      AGREEMENT

      

      

      1.          Agreement to Vote.  From the date hereof until the earlier of the Termination Date (as defined below) or the receipt of the Company Shareholder Approval, the
          Shareholder irrevocably and unconditionally agrees that it shall at any meeting of the shareholders of the Company (whether annual, special or otherwise and whether or not an adjourned or postponed meeting), however called, or in connection with
          any written consent of shareholders of the Company, however proposed: (a) when a meeting is held, appear at such meeting or otherwise cause its Covered Shares that are owned by the Shareholder as of the date of such meeting to be counted as
          present thereat for the purpose of establishing a quorum, and when a written consent is proposed, respond to each request by the Company for written consent, and (b) vote or consent, or cause to be voted at such meeting or cause such consent to
          be granted with respect to, all Covered Shares that are owned by the Shareholder as of the date of such meeting or consent (i) in favor of the Merger and the adoption of the Merger Agreement and the Statutory Merger Agreement (each as they may be
          amended from time to time), and in favor of each of the other transactions contemplated by the Merger Agreement and the Statutory Merger Agreement of which approval of the Company’s shareholders is solicited, and (ii) against (A) any proposal for
          any recapitalization, reorganization, liquidation, dissolution, amalgamation, merger, sale of assets or other business combination between or involving the Company and any other Person that would reasonably be expected to impede, interfere with,
          delay or postpone or adversely affect in any material respect the Merger or any other transactions contemplated by the Merger Agreement, the Statutory Merger Agreement or this Agreement, (B) any other action that would be reasonably likely to
          result in any conditions to the consummation of the Merger under the Merger Agreement not being fulfilled, (C) any amendment or other change to the Company Memorandum of Association or Company Bye-laws that would reasonably be expected to impede,
          interfere with, delay, postpone or adversely affect in any material respect the Merger or any of the other transactions contemplated by the Merger Agreement, the Statutory Merger Agreement or this Agreement, and (D) any other material change in
          the Company’s corporate structure or business that would reasonably be expected to impede, interfere with, delay or postpone or adversely affect in any material respect the Merger or any of the other transactions contemplated by the Merger
          Agreement or the Statutory Merger Agreement.

      

      

      2.          No Inconsistent Agreements.  The Shareholder hereby represents, covenants and agrees that, except as contemplated by this Agreement, the Shareholder (a) has not
          entered into, and shall not enter into at any time prior to the Termination Date, any voting agreement, voting trust or other agreement that directly or indirectly addresses voting with respect to any Covered Shares and (b) has not granted, and
          shall not grant at any time prior to the Termination Date, a proxy or power of attorney with respect to any Covered Shares, in either case, which is inconsistent with the Shareholder’s obligations pursuant to this Agreement.

      

      

      3.          Termination.  This Agreement shall terminate upon the earliest of (a) the Closing, (b) the date that the Merger Agreement is terminated, (c) an Adverse
          Recommendation Change and (d) the delivery of written notice of termination of this Agreement by the Company to the Shareholder (such earliest date, the “Termination Date”); provided, that
          the provisions set forth in Sections 10 and 12 through 24 shall survive the termination of this Agreement; provided further, that any liability incurred by any party hereto as a result of a breach of a term or condition of this Agreement prior to such termination shall
          survive the termination of this Agreement.

      

      

      4.          Representations and Warranties of the Shareholder.  The Shareholder hereby represents and warrants to the Company as follows:

      

      

      (a)          Schedule A lists all
          shares and other equity interests owned of record or beneficially by the Shareholder in the Company as of the date hereof.  Schedule A lists all options, warrants and other securities convertible into or exercisable or exchangeable for shares and
          other equity interests in the Company owned of record or beneficially by the Shareholder as of the date hereof.  Except as set forth on Schedule A, as of the date hereof, the Shareholder does not own of record or beneficially any voting
          securities or other equity securities in the Company or any securities convertible into or exercisable or exchangeable for any such voting securities or other equity securities.  the Shareholder does not own of record any shares which are
          beneficially owned by a third Person.

      

      

      
        2

        
          

      

      

      

      (b)          The Shareholder is the
          record or beneficial owner of, and has good and valid title to, all Covered Shares as of the date hereof, free and clear of all liens, pledges, restrictions and other encumbrances (a “Lien”), other than (i) as created by this Agreement, (ii) as created by any applicable securities Laws, (iii) under the Company Memorandum of Association or Company Bye-Laws or (iv) as would not impair
          the Shareholder’s ability to perform its obligations under this Agreement.  The Shareholder has sole voting power, sole power of disposition and sole power to agree to all of the matters set forth in this Agreement, in each case with respect to
          all of such Covered Shares, with no limitations, qualifications or restrictions on such rights.  Such Covered Shares are not subject to any voting trust agreement or other contract, in each case that is inconsistent with this Agreement, to which
          the Shareholder is a party restricting or otherwise relating to the voting or sale (constructive or otherwise), transfer, pledge, hypothecation, grant, gift, encumbrance, assignment or other disposal (collectively, “Transfer”) of such Covered Shares.  The Shareholder has not appointed or granted any proxy or power of attorney that is still in effect with respect to such Covered
          Shares, except as contemplated by this Agreement.

      

      

      (c)          The Shareholder has
          full legal power and capacity to execute and deliver this Agreement and to perform the Shareholders’ obligations hereunder.  This Agreement has been duly and validly executed and delivered by the Shareholder and, assuming due authorization,
          execution and delivery by the Company, constitutes a legal, valid and binding obligation of the Shareholder, enforceable against the Shareholder in accordance with its terms, except as enforcement may be limited by applicable bankruptcy,
          insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally and by general principles of equity (regardless of whether considered in a proceeding in equity or at law).

      

      

      (d)          Except for the
          applicable requirements of the Exchange Act, (i) no filing with, and no permit, authorization, consent or approval of, any governmental entity is necessary on the part of the Shareholder for the execution, delivery and performance of this
          Agreement by the Shareholder or the consummation by the Shareholder of the transactions contemplated hereby and (ii) none of the execution, delivery or performance of this Agreement by the Shareholder or the consummation by the Shareholder of the
          transactions contemplated hereby or compliance by the Shareholder with any of the provisions hereof shall (A) result in any breach or violation of, or constitute a default (or an event which, with notice or lapse of time or both, would become a
          default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, or result in the creation of a Lien on any property or asset of the Shareholder pursuant to, any contract to which the Shareholder is a party
          or by which the Shareholder or any property or asset of the Shareholder is bound or affected or (B) violate any order, writ, injunction, decree, statute, law, rule or regulation applicable to the Shareholder or any of the Shareholder’s properties
          or assets except, in the case of clause (A) or (B), for breaches, violations or defaults that would not, individually or in the aggregate, materially impair the ability of the Shareholder to perform its obligations hereunder on a timely basis.

      

      

      (e)          There is no action,
          suit, claim, arbitration, investigation, complaint, inquiry or other proceeding pending against the Shareholder or, to the actual knowledge of the Shareholder, any other Person or, to the actual knowledge of the Shareholder, threatened against
          the Shareholder that restricts or prohibits (or, if successful, would restrict or prohibit) the exercise by the Company of its rights under this Agreement or the performance by the Shareholder of its obligations under this Agreement on a timely
          basis.

      

      

      (f)          The Shareholder
          understands and acknowledges that the Company is waiving Arch’s compliance with the transfer restrictions related to the Shares under the Arch Voting and Support Agreement in connection with the Sale in reliance upon the Shareholder’s execution
          and delivery of this Agreement and the representations and warranties and covenants of the Shareholder contained herein and would not consent to the Sale if the Shareholder did not enter into this Agreement.

      

      

      5.          Certain Covenants of the Shareholder.  The Shareholder hereby covenants and agrees as follows:

      

      

      (a)          Except as contemplated
          hereby and until the earliest of the Termination Date or the receipt of the Company Shareholder Approval, the Shareholder shall not (i) tender any Covered Shares into any tender or exchange offer, (ii) Transfer or enter into any contract with
          respect to the Transfer of any of the Covered Shares or beneficial ownership or voting power thereof or therein (including by operation of law), (iii) grant any proxies or powers of attorney, deposit any Covered Shares into a voting trust or
          enter into a voting agreement with respect to any Covered Shares that is inconsistent with this Agreement or (iv) take any action that would make any representation or warranty of the Shareholder contained herein untrue or incorrect in any
          material respect or have the effect of preventing or disabling the Shareholder from performing its obligations under this Agreement in any material respect.  Any Transfer in violation of this Section 5(a) shall be void.

      

      

      
        3

        
          

      

      

      

      (b)          In the event that the
          Shareholder acquires record or beneficial ownership of, or the power to vote or direct the voting of, any additional Shares or other voting interests with respect to the Company, such Shares or voting interests shall, without further action of
          the parties, be deemed Covered Shares and subject to the provisions of this Agreement, and the number of Shares held by the Shareholder set forth on Schedule A hereto will be deemed amended accordingly and such Shares or voting interests shall
          automatically become subject to the terms of this Agreement.  The Shareholder shall promptly notify the Company of any such event.

      

      

      6.          [Reserved].

      

      

      7.          No Ownership Interest.  Nothing contained in this Agreement shall be deemed to vest in the Company any direct or indirect ownership or incidence of ownership of or
          with respect to any Covered Shares.  All ownership and economic benefits of and relating to the Covered Shares shall remain vested in and belong to the Shareholder, and, except as otherwise provided herein, the Company shall have no authority to
          direct the Shareholder in the voting or disposition of any Covered Shares.

      

      

      8.          Disclosure.  Each party hereto hereby authorizes the Company to publish and disclose in any announcement or disclosure the Shareholder’s identity and ownership of
          the Covered Shares and the nature of the Shareholder’s obligations under this Agreement, and to disclose a copy of this Agreement, in each case, to the extent required by applicable Law.

      

      

      9.          Merger Agreement.  The Shareholder hereby acknowledges receipt of, and has had an opportunity to read and understand, the Merger Agreement (including any exhibits
          and schedules thereto).

      

      

      10.          Expenses.  Except as otherwise expressly provided herein, the Shareholder, on the one hand, and the Company, on the other hand, shall pay all of their own expenses
          (including attorneys’ and accountants’ fees and expenses) in connection with the negotiation of this Agreement, the performance of their respective obligations hereunder and the consummation of the transactions contemplated by this Agreement.

      

      

      11.          Further Assurances.  From time to time, at the request of the other parties hereto and without further consideration, each party hereto shall take such further
          action as may reasonably be deemed by any of the other parties hereto to be necessary or desirable to consummate and make effective the transactions contemplated by this Agreement.

      

      

      12.          Amendment or Supplement.  This Agreement may not be amended, modified or supplemented in any manner, whether by course of conduct or otherwise, except by an
          instrument in writing specifically designated as an amendment hereto, signed on behalf of each party hereto.

      

      

      13.          Waiver.  No failure or delay of any party in exercising any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of
          any such right or power, or any abandonment or discontinuance of steps to enforce such right or power, or any course of conduct, preclude any other or further exercise thereof or the exercise of any other right or power.  The rights and remedies
          of the parties hereunder are cumulative and are not exclusive of any rights or remedies which they would otherwise have hereunder.  Any agreement on the part of a party to any such waiver shall be valid only if set forth in a written instrument
          executed and delivered by such party or by a duly authorized officer on behalf of such party.

      

      

      14.          Interpretation.  When a reference is made in this Agreement to an Article, a Section or an Exhibit, such reference shall be to an Article, a Section or an Exhibit of
          or to this Agreement unless otherwise indicated.  The table of contents, index of defined terms and headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this
          Agreement.  Any capitalized term used in any Exhibit but not otherwise defined therein shall have the meaning assigned to such term in this Agreement.  Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall
          be deemed to be followed by the words “without limitation.” The words “hereof,” “hereto,” “hereby,” “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any
          particular provision of this Agreement.  The term “or” is not exclusive.  The word “extent” in the phrase “to the extent” shall mean the degree to which a subject or other thing extends, and such phrase shall not mean simply “if.” The definitions
          contained in this Agreement are applicable to the singular as well as the plural forms of such terms.  All pronouns and any variations thereof refer to the masculine, feminine or neuter as the context may require.  Any agreement, instrument or
          Law defined or referred to herein means such agreement, instrument or Law as from time to time amended, modified or supplemented, unless otherwise specifically indicated.  References to a Person are also to its permitted successors and assigns. 
          Unless otherwise specifically indicated, all references to “$” will be deemed references to the lawful money of the United States of America.  The parties hereto have participated jointly in the negotiation and drafting of this Agreement.  In the
          event an ambiguity or a question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto, and no presumption or burden of proof shall arise favoring or disfavoring by virtue of the
          authorship of any provisions of this Agreement.

      

      

      
        4

        
          

      

      

      

      15.          Notices.  All notices, requests, claims, demands and other communications under this Agreement shall be in writing and shall be deemed duly given (a) on the date of
          delivery if delivered personally; (b) on the date sent if sent by facsimile or electronic mail (provided, however, that notice given by facsimile or email shall not be
          effective unless either (i) a duplicate copy of such facsimile or email notice is promptly given by one of the other methods described in this Section 15 or (ii) the receiving party delivers a written confirmation of receipt of such notice either
          by facsimile or email or any other method described in this Section 15; (c) on the first Business Day following the date of dispatch if delivered utilizing a next-day service by a recognized next- day courier; or (d) on the earlier of confirmed
          receipt or the fifth Business Day following the date of mailing if delivered by registered or certified mail, return receipt requested, postage prepaid.  All notices hereunder shall be delivered to the addresses set forth below, or pursuant to
          such other instructions as may be designated in writing by the party to receive such notice:

      

      

      (i)          If to the Shareholder:

      

      

      c/o Warburg Pincus LLC

      450 Lexington Avenue

      New York, NY 10017

      Attention: General Counsel

      Facsimile: (212) 878-9351

      Email: notices@warburgpincus.com

      

      

      with copies to (which shall not constitute notice):

      

      

      Wachtell, Lipton, Rosen & Katz

      51 West 52nd Street

      New York, NY  10019

      Attention:  Mark F. Veblen

      Facsimile:  (212) 403-2000

      E-mail:   MFVeblen@wlrk.com

      

      

      (ii)          If to the Company:

      

      

      Watford Holdings Ltd.

      Waterloo House, 1st Floor

      100 Pitts Bay Road

      Pembroke HM 08, Bermuda

      	

            	Email:	
              lbr@watfordholdings.com

            

      	

            	Attention:	
              Laurence Richardson

            

      

      

      with copies to (which shall not constitute notice):

      

      

      Clifford Chance US LLP

      31 West 52nd Street, 3rd Floor

      New York, New York  10019

      	

            	Email:	
              gary.boss@cliffordchance.com

                john.healy@cliffordchance.com

            

      	

            	Attention:	
              Gary Boss

                John A. Healy

            

      

      

      16.          Entire Agreement.  This Agreement constitutes the entire agreement, and supersede all prior written agreements, arrangements, communications and understandings and
          all prior and contemporaneous oral agreements, arrangements, communications and understandings between the parties with respect to the subject matter hereof.

      

      

      
        5

        
          

      

      

      

      17.          No Third-Party Beneficiaries.  Nothing in this Agreement, express or implied, is intended to or shall confer upon any Person other than the parties and their
          respective successors and permitted assigns any legal or equitable right, benefit, claim or remedy of any nature under or by reason of this Agreement.

      

      

      18.          Non-Recourse.  This Agreement may only be enforced against, and any claim or cause of action based upon, arising out of or related to this Agreement may only be
          brought against, the Persons that are expressly named as parties to this Agreement.  Except to the extent named as a party to this Agreement, and then only to the extent of the specific obligations of such parties set forth in this Agreement, no
          past, present or future shareholder, member, partner, manager, director, officer, employee, Affiliate, agent or representative of any party to this Agreement will have any Liability (whether in contract, tort, equity or otherwise) for any of the
          representations, warranties, covenants, agreements or other obligations or Liabilities of any of the parties to this Agreement or for any claim based upon, arising out of or related to this Agreement.

      

      

      19.          Governing Law.  THIS AGREEMENT, INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE AND ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER IN CONTRACT,
          TORT, EQUITY OR OTHERWISE) DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT OR THE NEGOTIATION, ADMINISTRATION, PERFORMANCE AND ENFORCEMENT HEREOF, SHALL BE GOVERNED BY,
          AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF DELAWARE, REGARDLESS OF THE LAWS THAT MIGHT OTHERWISE GOVERN UNDER ANY APPLICABLE PRINCIPLES OF CHOICE OR CONFLICTS OF LAWS OF THE STATE OF DELAWARE, EXCEPT TO THE EXTENT THE PROVISIONS
          OF THE LAWS OF BERMUDA ARE MANDATORILY APPLICABLE TO THE MERGER.

      

      

      20.          Specific Enforcement; Jurisdiction; Venue.  The parties acknowledge and agree that irreparable damage would occur in the event that any of the provisions of this
          Agreement were not performed in accordance with their specific terms or were otherwise breached, and that monetary damages, even if available, would not be an adequate remedy therefor.  It is accordingly agreed that the parties shall be entitled
          to an injunction or injunctions to prevent breaches or threatened breaches of this Agreement and to enforce specifically the performance of the terms and provisions of this Agreement, including failing to take such actions as are required of them
          hereunder to consummate the transactions contemplated hereby.  It is agreed that the parties are entitled to enforce specifically the performance of terms and provisions of this Agreement in any court referred to below, without proof of actual
          damages (and each party hereby waives any requirement for the securing or posting of any bond in connection with such remedy), this being in addition to any other remedy to which they are entitled at law or in equity.  The parties further agree
          not to assert that a remedy of specific enforcement is unenforceable, invalid, contrary to Law or inequitable for any reason, nor to assert that a remedy of monetary damages would provide an adequate remedy for any such breach.  In addition, each
          of the parties hereto irrevocably agrees that any legal action or proceeding arising out of or relating to this Agreement brought by any party or its Affiliates against any other party or its Affiliates shall be brought and determined in the
          Court of Chancery of the State of Delaware; provided, that if jurisdiction is not then available in the Court of Chancery of the State of Delaware, then any such legal action or proceeding may be brought in any federal court located in the State of Delaware or any other
          Delaware state court, in each case, except to the extent that any such proceeding mandatorily must be brought in Bermuda.  Each of the parties hereby irrevocably submits to the jurisdiction of the aforesaid courts for itself and with respect to
          its property, generally and unconditionally, with regard to any such action or proceeding arising out of or relating to this Agreement and the transactions contemplated hereby.  Each of the parties agrees not to commence any action, suit or
          proceeding relating thereto except in the courts described above in Delaware, other than actions in any court of competent jurisdiction to enforce any judgment, decree or award rendered by any such court in Delaware as described herein.  Each of
          the parties further agrees that notice as provided herein shall constitute sufficient service of process and the parties further waive any argument that such service is insufficient.  Each of the parties hereby irrevocably and unconditionally
          waives, and agrees not to assert, by way of motion or as a defense, counterclaim or otherwise, in any action or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby, (a) any claim that it is not
          personally subject to the jurisdiction of the courts in Delaware as described herein for any reason, (b) that it or its property is exempt or immune from jurisdiction of any such court or from any legal process commenced in such courts (whether
          through service of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise) and (c) that (i) the suit, action or proceeding in any such court is brought in an inconvenient forum, (ii)
          the venue of such suit, action or proceeding is improper or (iii) this Agreement, or the subject matter hereof, may not be enforced in or by such courts.

      

      

      
        6

        
          

      

      

      

      21.          Assignment; Successors.  Neither this Agreement nor any of the rights, interests or obligations under this Agreement may be assigned or delegated, in whole or in
          part, by operation of law or otherwise, by either party without the prior written consent of the other party, and any such assignment without such prior written consent shall be null and void.  Subject to the preceding sentence, this Agreement
          will be binding upon, inure to the benefit of, and be enforceable by, the parties and their respective successors and assigns.

      

      

      22.          Severability.  If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule or Law, or public policy, (a) such
          term or other provision shall be fully separable, (b) this Agreement shall be construed and enforced as if such invalid, illegal or unenforceable provision had never comprised a part hereof, and (c) all other conditions and provisions of this
          Agreement shall nevertheless remain in full force and effect so long as either the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party or such party waives its rights
          under this Section 22 with respect thereto.  Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect
          the original intent of the parties as closely as possible in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the extent possible.

      

      

      23.          Waiver of Jury Trial.  EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY
          SUIT, ACTION OR OTHER PROCEEDING ARISING OUT OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT.  EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR
          OTHERWISE, THAT SUCH PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SUIT OR PROCEEDING, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER
          THINGS, THE MUTUAL WAIVER AND CERTIFICATIONS IN THIS SECTION 23.

      

      

      24.          Counterparts.  This Agreement may be executed in one or more counterparts, including by facsimile or by email with .pdf attachments, all of which shall be considered
          one and the same agreement, and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other parties.

      

      

      25.          Affiliates.  The Shareholder hereby covenants and agrees that it shall cause each of its Affiliates to comply with this Agreement as if each such Affiliate was
          itself a party to this Agreement.  For purposes of this Agreement, “Affiliate” means, with respect to any Person, any other Person that
          directly or indirectly controls, is controlled by, or is under common control with, such first Person, except, in the case of the Shareholder, any portfolio company of any investment fund affiliated with the Shareholder.  For purposes of this
          definition, “control” (including, the terms “controlling,” “controlled by,” and “under common control with”), as applied to any person, means
          the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of that Person, whether through the ownership of voting securities, by Contract, or otherwise.

      

      

      [The remainder of this page is intentionally left blank;
          signature page follows.]

      

      

      
        7

        
          

      

      

      

      IN WITNESS WHEREOF, the Company and the Shareholder have caused to be executed or executed this Agreement as of the date first written
        above.

      

      

      	 	
              WATFORD HOLDINGS LTD.

            	 
	 	 	 	 	 
	 	
              By:

            	
              /s/ Laurence B. Richardson

            	 
	 	 	
              Name:

            	
              Laurence B. Richardson

            	 
	 	 	
              Title:

            	
               COO

            	 

      

      

       

      

      

       

      [Voting and Support Agreement]

      

      

       

      
        
          

      

      

      

       

      	 	
              WP WINDSTAR INVESTMENTS LTD

            	 
	 	 	 	 	 
	 	
              By:

            	
              /s/ David Sreter

            	 
	 	 	
              Name:

            	
              David Sreter

            	 
	 	 	
              Title:

            	
               Director

            	 

      

      

      

      

      

      

      [Voting and Support Agreement]

      
        
          

      

      
      

      

      SCHEDULE A

      

      

      The Shareholder owns 230,400 common shares, par value $0.01 per share.

      

      

      

        

      

    

  

  Sch. A-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00321-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00321-of-00352.parquet"}]]