Document:

EX-10.2

 Exhibit 10.2 

REDEMPTION AGREEMENT 

REDEMPTION AGREEMENT (this “Agreement”), dated as of the 31st day of March, 2014, by and between Manning & Napier
Capital Company, LLC, a New York limited liability company having an address at 290 Woodcliff Drive, Fairport, New York 14450 (“MNCC”), and Manning & Napier Group, LLC, a Delaware limited liability company having an address
at 290 Woodcliff Drive, Fairport, New York 14450 (the “Group”). 
 W I T N E S S
E T H: 
 WHEREAS, the parties to this Agreement have agreed Group shall redeem Class A units held by MNCC; 

WHEREAS, subject to the terms and conditions set forth in those certain redemption agreements entered into concurrently with this Agreement
between some or all of the unitholders (the “Unitholders”) of MNCC and MNCC, pursuant to which the Unitholders each irrevocably elected to have redeemed by MNCC, an aggregate of 77,092 Class A units of MNCC; and 

WHEREAS, subject to the terms and conditions set forth herein, MNCC desires to irrevocably have redeemed by Group, and Group desires to redeem
77,092 of the Class A Units (the “Redeemed Interests”), in exchange for the Redemption Price (as defined in Section 1.02 below). 

NOW, THEREFORE, in consideration of the foregoing premises, the respective covenants and agreements set forth in this Agreement, and for other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, hereby agree as follows: 

ARTICLE I 
 REDEMPTION 

SECTION 1.01. Redemption of the Securities. Subject to the terms and conditions set forth in this Agreement, on the Closing Date (as
defined below), MNCC hereby irrevocably submits for redemption and transfers, assigns and delivers to Group, and Group hereby redeems and accepts all right, title and interest in and to, the Redeemed Interests, free and clear of all liens and
encumbrances of any kind, for the Redemption Price. On the Closing Date (or thereafter pursuant to Section 5.01), MNCC shall deliver to Group all instruments necessary to effect the transfer of the Redeemed Interests from MNCC to Group. 

SECTION 1.02. Redemption Price. The aggregate redemption price for the Redeemed Interests shall be $1,113,979.40 in cash (the
“Redemption Price”). On or as promptly after the Closing Date as is practicable, Group shall pay the Redemption Price by check or wire transfer of immediately available funds to an account specified in writing by MNCC. 

 SECTION 1.03. Closing. The closing of the redemption of the Redeemed Interests (the
“Closing”) shall take place immediately following the execution of this Agreement on the date hereof (the “Closing Date”). The Closing shall take place at the offices of MNCC, or at such other location as may be
mutually agreed to by the parties hereto. 
 ARTICLE II 

REPRESENTATIONS AND WARRANTIES OF MNCC 

MNCC hereby represents and warrants to Group as follows: 

SECTION 2.01. Organization Authorization and Validity of Agreement. MNCC is a limited liability company duly organized, validly existing
and in good standing under the laws of the State of New York. MNCC has all requisite power and authority to enter into this Agreement and to carry out its obligations hereunder. The execution and delivery of this Agreement and the performance of
MNCCs’ obligations hereunder have been duly authorized by all necessary action, and no other proceedings on the part of MNCC is necessary to authorize such execution, delivery and performance. This Agreement has been duly executed by MNCC and,
assuming due execution by Group, constitutes legal, valid and binding obligations of MNCC, enforceable against MNCC in accordance with its terms, except as may be limited by applicable bankruptcy, insolvency, moratorium or similar laws of general
application relating to or affecting creditors’ rights generally and except for the limitations imposed by general principles of equity. Each document and instrument of transfer contemplated by this Agreement (including pursuant to
Section 5.01 hereof) is valid and legally binding upon MNCC in accordance with its terms. 
 SECTION 2.02. Ownership of Redeemed
Interests. MNCC is the lawful owner of record and beneficially owns, and has good and marketable title to, the Redeemed Interests, free and clear of any security interest, pledge, mortgage, lien, call, option, charge, encumbrance, adverse claim,
preferential arrangement or restriction of any kind, including, without limitation, any restriction on the use, voting, transfer, receipt of income or other exercise of any attributes of ownership (collectively, “Encumbrances”).
Upon the consummation of the transaction contemplated by this Agreement and payment of the Redemption Price, Group will own the Redeemed Interests free and clear of any Encumbrance. 

SECTION 2.03. No Conflict or Violation. The execution and delivery of this Agreement by MNCC and the consummation of the transactions
contemplated hereby do not and will not (a) with or without the giving of notice or the passage of time or both, violate, conflict with, result in the breach or termination of, constitute a default under, or result in the right to accelerate or
loss of rights under or the creation of any Encumbrance upon any assets or property of MNCC, pursuant to the terms or provisions of any contract, agreement, commitment, indenture, mortgage, deed of trust, pledge, security agreement, note, lease,
license, covenant, understanding or other instrument or obligation to which MNCC is a party or by which it or any of its properties or assets may be bound or affected, (b) violate or conflict with any provision of the organizational documents
of MNCC or (c) violate any provision of law or any order, writ, injunction, judgment or decree of any court, administrative agency or governmental body binding upon MNCC. 

 SECTION 2.04. No Consent. No consent, approval or authorization of or declaration or
filing with any governmental authority or other persons or entities on the part of MNCC is required in connection with execution or delivery of this Agreement or the consummation of the transactions contemplated hereby. 

SECTION 2.05. Sufficient Knowledge. MNCC acknowledges that it has (a) been provided access to or been furnished with sufficient
facts and information to evaluate and make an informed decision with respect to the redemption of the Redeemed Interests pursuant to the terms of this Agreement, (b) read and understands all of such information, (c) been provided
sufficient opportunity to ask questions and all of such questions have been answered to its full satisfaction, (d) not relied on any oral or written representations made by or on behalf of Group or any of its affiliates (other than as set forth
in this Agreement) and shall not construe or rely on any communication or documentation from or on behalf of Group or any of its affiliates as investment, legal or tax advice and (e) obtained such advice (including without limitation the advice
of counsel of MNCCs’ choosing) as it deemed appropriate in order to make an informed decision with respect to the redemption of the Redeemed Interests pursuant to the terms of this Agreement. MNCC acknowledges and agrees that the Redemption
Price represents the fair market value of the Redeemed Interests. 
 ARTICLE III 

REPRESENTATIONS AND WARRANTIES OF GROUP 

Group hereby represents and warrants to MNCC as follows: 

SECTION 3.01. Organization; Authorization and Validity of Agreement. Group is a limited liability company duly organized, validly
existing and in good standing under the laws of the State of Delaware. Group has all requisite power and authority to enter into this Agreement and to carry out its obligations hereunder. The execution and delivery of this Agreement and the
performance of Group’s obligations hereunder have been duly authorized by all necessary action, and no other proceedings on the part of Group is necessary to authorize such execution, delivery and performance. This Agreement has been duly
executed by Group and, assuming due execution by MNCC, constitutes legal, valid and binding obligations of Group, enforceable against Group in accordance with its terms, except as may be limited by applicable bankruptcy, insolvency, moratorium or
similar laws of general application relating to or affecting creditors’ rights generally and except for the limitations imposed by general principles of equity. 

SECTION 3.02. No Conflict or Violation. The execution, delivery and performance by Group of this Agreement does not and will not
(i) violate or conflict with any provision of the organizational documents of Group or (ii) violate any provision of law, or any order, judgment or decree of any court or other governmental entity. 

 ARTICLE IV 

INDEMNIFICATION 
 SECTION 4.01.
MNCC Indemnity. MNCC covenants and agrees to indemnify and hold Group and its officers, directors and stockholders, harmless from and against, and to reimburse such indemnitees for, any claim for any losses, damages, liabilities, deficiencies
and expenses (including reasonable counsel fees and expenses) (a “Claim”) incurred by Group or any such indemnitee after the date hereof by reason of, or arising from, (a) any misrepresentation or breach of any representation
or warranty contained in this Agreement or in any instrument or document executed by MNCC and delivered to Group pursuant to the terms hereof or (b) any failure by MNCC to perform any obligation or covenant required to be performed by it under
any provision of this Agreement. 
 SECTION 4.02. Group Indemnity. Group covenants and agrees to indemnify and hold MNCC and its
officers, directors and stockholders, harmless from and against, and to reimburse such indemnitees for, any claim for any losses, damages, liabilities, deficiencies and expenses (including reasonable counsel fees and expenses) incurred by MNCC or
any such indemnitee after the date hereof by reason of, or arising from, (a) any misrepresentation or breach of any representation or warranty contained in this Agreement or in any instrument or document executed by Group and delivered to MNCC
pursuant to the terms hereof or, (b) any failure by Group to perform any obligation or covenant required to be performed by it under any provision of this Agreement. 

ARTICLE V 
 MISCELLANEOUS 

SECTION 5.01. Further Assurances. Each party hereto shall execute, deliver, file and record, or cause to be executed, delivered, filed
and recorded, such further agreements, instruments and other documents, and take, or cause to be taken, such further actions, as any other party hereto may reasonably request as being necessary or advisable to effect or evidence the transactions
contemplated by this Agreement. 
 SECTION 5.02. Entire Agreement. This Agreement constitutes the entire agreement and understanding
between the parties with regard to the subject matter hereof. 
 SECTION 5.03. Amendments; Waivers. This Agreement may be amended,
modified or superseded, and any of the terms, covenants, representations, warranties or conditions hereof may be waived, only by a written instrument executed by parties hereto. No waiver of any provision of this Agreement shall be valid unless in
writing and signed by the party against whom enforcement is sought. The failure of any party at any time or times to require performance of any provisions hereof will in no manner affect the right at a later time to enforce the same. No waiver by
any party of any condition, or of any breach of any term, covenant, representation or warranty contained in this Agreement, in any one or more instances, will be deemed to be or construed as a further or continuing waiver of any such condition or
breach or a waiver of any other condition or of any breach of any other term, covenant, representation or warranty. 
 SECTION 5.04.
Successors and Assigns. All of the terms, covenants, representations, warranties and conditions of this Agreement will be binding upon, and inure to the benefit of, and be enforceable by, the parties hereto and their respective successors and
assigns. 

 SECTION 5.05. Governing Law. This Agreement shall be governed by and construed in
accordance with the domestic laws of the State of New York, without giving effect to any choice of law or conflict of law provisions or rule that would cause the application of the laws of any jurisdiction other than the State of New York. 

SECTION 5.06. Severability. If any provision of this Agreement shall become illegal, invalid, unenforceable or against public policy
for any reason, or shall be held by any court of competent jurisdiction to be illegal, invalid, unenforceable or against public policy, then such provision shall be severed from this Agreement and the remaining provisions of this Agreement shall not
be affected thereby and shall remain in full force and effect. In lieu of each provision that becomes or is held to be illegal, invalid, unenforceable or against public policy, there shall be automatically added to this Agreement a provision as
similar in substance to the objectionable provision as may be possible and still be legal, valid, enforceable and in compliance with public policy. 

SECTION 5.07. Section and Paragraph Headings. The section and paragraph headings in this Agreement are for reference purposes only and
shall not affect the meaning or interpretation of this Agreement. 
 SECTION 5.08. Counterparts. This Agreement may be executed in
any number of counterparts with the same effect as if all parties hereto had executed the same document. All such counterparts shall be construed together and shall constitute one instrument. 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above
written. 
  

			
	MANNING & NAPIER CAPITAL COMPANY,
LLC.
		
	By:	 	 /s/ Michelle Thomas

		 	Name: Michelle Thomas
		
		 	Title: Authorized Signatory
	
	MANNING & NAPIER GROUP, LLC.
		
	By:	 	 /s/ Richard B. Yates

		 	Name: Richard B. Yates
		 	Title: Corporate SecretaryFirst Amendment to the MIF Mortgage Warehousing Agreement

 Exhibit 10.1 

FIRST AMENDMENT TO AMENDED AND RESTATED MORTGAGE WAREHOUSING AGREEMENT 

This First Amendment to Amended and Restated Mortgage Warehousing Agreement (“First Amendment”) is made as of March 28,
2014, by and among M/I Financial, LLC (f/k/a M/I Financial Corp.) (“Borrower”), the Lenders (as defined below) and Comerica Bank, as administrative agent for the Lenders (in such capacity, the “Agent”). 

RECITALS 
 A. Borrower
entered into that certain Amended and Restated Mortgage Warehousing Agreement (as amended, restated or otherwise modified from time to time, the “Mortgage Warehousing Agreement”) dated March 29, 2013, by and among the financial
institutions from time to time signatory thereto (each, individually, a “Lender,” and any and all such financial institutions collectively the “Lenders”), Agent and Borrower. 

B. Borrower has requested that Agent and the Lenders make certain amendments to the Mortgage Warehousing Agreement and Agent and the Lenders
are willing to do so, but only on the terms and conditions set forth in this First Amendment. 
 NOW, THEREFORE, in consideration of
the Recitals and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Borrower, Agent and Lenders agree as follows: 

1. The following definitions set forth in Section 1.1 of the Mortgage Warehousing Agreement are amended and restated in their entirety as
follows: 
 “Fee Letter” shall mean the fee letter by and between Borrower and Comerica Bank dated as of February 20, 2014,
relating to the Indebtedness hereunder, as amended, restated, replaced or otherwise modified from time to time. 
 “LIBOR
Floor” shall mean one quarter of one percent (.25%) per annum. 
 “Revolving Credit Aggregate Commitment” shall mean
One Hundred Ten Million Dollars ($110,000,000), subject to reduction or termination under Section 2.9 or 7.2 hereof, and subject to increase under Section 2.11 hereof. 

“Revolving Credit Maturity Date” shall mean the earlier to occur of (i) March 27, 2015, and (ii) the date on which
the Revolving Credit Aggregate Commitment shall terminate in accordance with the provisions of this Agreement. 
 2. The preamble to
Section 2.11 of the Mortgage Warehousing Agreement is amended and restated in its entirety as follows: 
 “Borrower may request
that the Revolving Credit Aggregate Commitment be increased in an aggregate amount (for all such requests made after March 28, 2014 under this Section 2.11) not to exceed the Revolving Credit Optional Increase Amount subject, in each case,
to the satisfaction concurrently with or prior to the date of each such request of the following conditions:” 
 3. Sections 5.9(a)
and 5.9(b) of the Mortgage Warehousing Agreement are amended and restated in their entirety as follows: 
 “(a) Maintain at all times
Tangible Net Worth of not less than (a) $10,000,000 from the Effective Date through and including September 29, 2014, and (b) $11,000,000 thereafter. 

(b) Maintain at all times Liquidity of not less than (a) $5,000,000 from the Effective Date through and including September 29,
2014, and (b) $5,500,000 thereafter.” 

 4. The reference to “$125,000,000” in Section 6.1(e) of the Mortgage
Warehousing Agreement is hereby deleted and replaced with “$150,000,000”. 
 5. Revised Schedule 1.1 attached hereto as
Attachment 1 hereby amends and restates existing Schedule 1.1 in its entirety. The parties hereto acknowledge and agree that after giving effect to this First Amendment, each Lender shall (i) have Percentages equal to the applicable
percentages set forth in Schedule 1.1 attached hereto as Attachment 1 and (ii) hold Advances of the Revolving Credit (and participation in Swing Line Advances) in its Percentage of all such Advances (and Swing Line Advances) outstanding on
the First Amendment Effective Date. To facilitate the foregoing, each Lender, which as a result of the adjustments of Percentages evidenced by Schedule 1.1 hereto are to hold a greater principal amount of Advances of the Revolving Credit
outstanding than such Lender had outstanding under Revolving Credit immediately prior to the First Amendment Effective Date shall deliver to the Agent immediately available funds to cover such amounts. The parties hereto also acknowledge and agree
that the increase in the Revolving Credit Aggregate Commitment being made pursuant to this First Amendment shall not be deemed to be an increase made under Section 2.11 of the Mortgage Warehousing Agreement, and that the aggregate amount of
increases to the Revolving Credit Aggregate Commitment made after the date hereof shall not exceed the Revolving Credit Optional Increase Amount as of the date hereof. 

6. This First Amendment shall become effective (according to the terms hereof) on March 28, 2014 (the “First Amendment Effective
Date”) if, on or prior to such date, the following conditions have been fully satisfied: 
  

	 	(a)	Agent shall have received via facsimile or portable digital format (followed by the prompt delivery of original signatures) counterpart originals of this First Amendment, in each case duly executed and delivered by the
Agent, Borrower and the Lenders. 

  

	 	(b)	Agent shall have received fully executed replacement Revolving Credit Notes issued by Borrower on behalf of each Lender in form and substance satisfactory to Comerica Bank. 

 

	 	(c)	Borrower shall have paid to the Agent all fees or amounts, if any, that are due and owing to the Agent as of the First Amendment Effective Date. 

7. Borrower and each of the undersigned hereby represents and warrants that, after giving effect to the amendments to the Mortgage Warehousing
Agreement contained herein, (a) the execution and delivery of this First Amendment are within such party’s limited liability company powers, have been duly authorized, are not in contravention of law or the terms of its organizational
documents, and except as have been previously obtained do not require the consent or approval, material to the amendments contemplated in this First Amendment, of any governmental body, agency or authority, and this First Amendment and the Mortgage
Warehousing Agreement (as amended herein) will constitute the valid and binding obligations of such undersigned party, enforceable in accordance with its terms, except as enforcement thereof may be limited by applicable bankruptcy, reorganization,
insolvency, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general principles of equity (whether enforcement is sought in a proceeding in equity or at law), (b) the representations and warranties
set forth in Article 4 of the Mortgage Warehousing Agreement are true and correct in all material respects on and as of the date hereof (other than any representation or warranty that expressly speaks only as of a certain date), and (c) as of
the date first above written and as of the First Amendment Effective Date, no Default or Event of Default shall have occurred and be continuing. 

8. Borrower and Lenders each hereby ratify and confirm their respective obligations under the Mortgage Warehousing Agreement, as amended by
this First Amendment and agree that the Mortgage Warehousing Agreement hereby remains in full force and effect after giving effect to this First Amendment and that, upon such effectiveness, all references in such Loan Documents to the “Mortgage
Warehousing Agreement” shall be references to the Mortgage Warehousing Agreement as amended by this First Amendment. 
 9. Except as
specifically set forth above, this First Amendment shall not be deemed to amend or alter in any respect the terms and conditions of the Mortgage Warehousing Agreement or any of the Notes issued thereunder, or to constitute a waiver by the Lenders or
Agent of any right or remedy under or a consent to any transaction not meeting the terms and conditions of the Mortgage Warehousing Agreement, any of the Notes issued thereunder or any of the other Loan Documents. 

  
 2 

 10. Unless otherwise defined to the contrary herein, all capitalized terms used in this First
Amendment shall have the meaning set forth in the Mortgage Warehousing Agreement. 
 11. This First Amendment may be executed in counterpart
in accordance with Section 11.9 of the Mortgage Warehousing Agreement. 
 12. This First Amendment shall be construed in accordance with
and governed by the laws of the State of Michigan, without giving effect to principles of conflict of laws. 
 13. As a condition of the
above amendments and waiver, Borrower waives, discharges, and forever releases Agent, Lenders and their respective employees, officers, directors, attorneys, stockholders and successors and assigns, from and of any and all claims, causes of action,
allegations or assertions known to Borrower that Borrower has or may have had at any time up through, and including, the date of this First Amendment, against any or all of the foregoing in connection with the Mortgage Warehousing Agreement,
including the First Amendment thereto regardless of whether any such claims, causes of action, allegations or assertions arose as a result of Agent’s or such Lender’s actions or omissions. 

[remainder of page intentionally left blank] 

  
 3 

 IN WITNESS WHEREOF, Borrower, the Lenders and Agent have each caused this First Amendment to be
executed by their respective duly authorized officers or agents, as applicable, all as of the date first set forth above. 
  

			
	M/I FINANCIAL, LLC
		
	By:	 	 /s/ Paul Rosen

	Name:	 	Paul Rosen
	Title:	 	President and CEO

  

  
 Signature Page to First
Amendment to Amended and Restated Mortgage Warehousing Agreement 

 
			
	COMERICA BANK, as Agent and a Lender
		
	By:	 	 /s/ Celeste Ludwig

	Name:	 	Celeste Ludwig
	Title:	 	Vice President

  

  
 Signature Page to First
Amendment to Amended and Restated Mortgage Warehousing Agreement 

 
			
	THE HUNTINGTON NATIONAL BANK, as a Lender
		
	By:	 	 /s/ Marla S. Bergrin

	Name:	 	Marla S. Bergrin
	Title:	 	Vice President

  

  
 Signature Page to First
Amendment to Amended and Restated Mortgage Warehousing Agreement 

 
			
	BMO HARRIS BANK N.A., as a Lender
		
	By:	 	 /s/ Bob Bomben

	Name:	 	Bob Bomben
	Title:	 	Director

  

  
 Signature Page to First
Amendment to Amended and Restated Mortgage Warehousing Agreement 

 ATTACHMENT 1 

Schedule 1.1 

Percentages and Allocations 

Revolving Credit Facilities 
  

									
	 LENDERS
	  	REVOLVING
CREDIT
PERCENTAGE	 	 	REVOLVING
CREDIT
ALLOCATIONS	 
	 Comerica Bank
	  	 	40.90909091	% 	 	$	45,000,000	  
	 The Huntington National Bank
	  	 	31.81818182	% 	 	$	35,000,000	  
	 BMO Harris Bank N.A.
	  	 	27.27272727	% 	 	$	30,000,000	  
	 TOTALS
	  	 	100	% 	 	$	110,000,000

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