RECAPITALIZATION AGREEMENTRecapitalization Agreement • August 17th, 2020 • Enstar Group LTD • Fire, marine & casualty insurance • Delaware
This Recapitalization Agreement (this “Agreement”) is dated as of August 13, 2020, by and among North Bay Holdings Limited (“North Bay”), Enstar Group Limited (“Enstar”), Kenmare Holdings Ltd. (“Kenmare” and, together with Enstar, each an “Enstar Party”), Trident V, L.P., Trident V Parallel Fund, L.P. and Trident V Professionals Fund, L.P. (individually, each a “Trident Party” and, collectively, “Trident”), Dowling Capital Partners I, L.P. and Capital City Partners LLC (individually, each a “Dowling Party” and, collectively, “Dowling” and, together with Trident, each a “Trident-Dowling Party”) and, solely for purposes of Section 4.12, StarStone Specialty Holdings Limited (“RemainCo”). Kenmare, Trident and Dowling are collectively referred to herein as the “Shareholders.”
