What are the main agreements KKR entered into that are detailed in this 8-K?

KKR entered into three key agreements on July 14, 2010: the Exchange Agreement, the Registration Rights Agreement, and the Tax Receivable Agreement. These agreements are critical components of KKR's corporate structure and operational framework, particularly in the context of its listing on the New York Stock Exchange.

What changes were made to KKR's corporate governance structure?

The filing announces the appointment of three independent directors to the Board of KKR Management LLC, effective July 15, 2010. This expansion enhances the board's independence and compliance with NYSE listing requirements. Additionally, their compensation structure, including cash retainers and equity awards, is detailed.

What protections are in place for KKR's directors?

All members of the Board entered into Indemnification Agreements with KKR Management LLC and KKR & Co. L.P. These agreements provide extensive indemnification against losses, claims, and expenses arising from their service as directors, subject to limitations concerning bad faith, fraud, or willful misconduct. Expenses incurred by directors are also subject to advancement.

What is the significance of the delisting from Euronext Amsterdam?

The delisting of KKR Guernsey units from Euronext Amsterdam, which occurred on July 15, 2010, signifies a strategic consolidation of KKR's public market presence primarily on the New York Stock Exchange, where its common units began trading under the ticker 'KKR' in June 2010.

KKR 8-K: Leadership Changes, Material Agreements & More

Summary

This 8-K filing from KKR & Co. L.P. (KKR) on July 20, 2010, primarily details the formalization of agreements and corporate structure changes associated with KKR's previously announced listing on the New York Stock Exchange (NYSE). Key events include the entry into definitive agreements such as the Exchange Agreement, Registration Rights Agreement, and Tax Receivable Agreement, all crucial for the operational and governance framework post-listing. Additionally, the filing announces amendments to the Partnership Agreement and the Limited Liability Company Agreement governing KKR's structure. Significant for investors is the appointment of three independent directors to the Board of KKR Management LLC, a move aligning with NYSE governance standards. The filing also outlines the compensation structure for these independent directors, including annual retainers and equity awards, and details comprehensive indemnification agreements for all board members, ensuring protection against potential liabilities. The delisting from Euronext Amsterdam and the prior commencement of trading on the NYSE under the ticker 'KKR' are also confirmed, marking a significant transition for the company's public market presence.

Key Highlights

1Formalization of key agreements: Exchange Agreement, Registration Rights Agreement, and Tax Receivable Agreement entered into on July 14, 2010, supporting KKR's NYSE listing and operational structure.
2Amendments to governing documents: The Partnership Agreement and the Limited Liability Company Agreement for KKR Management LLC were amended and restated on July 14, 2010.
3Board of Directors expansion: Appointment of three independent directors (Joseph A. Grundfest, Dieter Rampl, and Robert W. Scully) to the Board of KKR Management LLC, effective July 15, 2010.
4Independent director compensation outlined: Annual cash retainers ($75,000 base, plus committee service bonuses) and equity awards under the 2010 Equity Incentive Plan for independent directors.
5Comprehensive indemnification for directors: All board members entered into Indemnification Agreements providing broad coverage against losses, claims, and expenses related to their service, subject to certain limitations.
6Delisting from Euronext Amsterdam: KKR Guernsey units ceased trading on July 14, 2010, and were delisted on July 15, 2010.
7Confirmation of NYSE trading: Common units began trading on the NYSE under the ticker symbol 'KKR' on June 15, 2010.

KKR & Co. Inc. 8-K Report, Material Agreement (Jul 20, 2010)

Summary

Key Highlights

Frequently Asked Questions