Document:

Reaffirmation of Guarantee

 Exhibit 10.2 
 VIRTUS INVESTMENT PARTNERS, INC. 
 REAFFIRMATION OF GUARANTEE

 THIS REAFFIRMATION OF GUARANTEE (this “Reaffirmation”) is dated as of September 10, 2012, and is
entered into by and among VIRTUS INVESTMENT PARTNERS, INC., a Delaware corporation (the “Borrower”), each of the Subsidiaries of the Borrower listed on Schedule A hereto (each such Subsidiary, individually, a
“Guarantor” and, collectively, the “Guarantors”) and THE BANK OF NEW YORK MELLON, as Administrative Agent, as Swingline Lender and as Issuing Bank (the “Agent”) under the Amended and Restated Credit
Agreement, dated as of September 10, 2012, among the Borrower, the lenders party thereto and the Agent (the “Amended and Restated Credit Agreement”). Capitalized terms used herein but not defined herein shall have the meanings
given to such terms in the Amended and Restated Credit Agreement. 
 RECITALS: 

A. The Borrower, the Guarantors and the Agent, acting on behalf of the Secured Parties, are parties to that certain Guarantee Agreement
dated as of September 1, 2009 (as amended, supplemented or otherwise modified from time to time, the “Guarantee”). 
 B. The Borrower, the lenders party thereto and the Agent have entered into the Amended and Restated Credit Agreement, which amends and restates that certain Credit Agreement, dated as of September 1,
2009 among the Borrower, the lenders party thereto, and the Agent (as amended to, but excluding, the Effective Date, the “Existing Credit Agreement”). 
 C. Each Guarantor acknowledges and agrees that it will derive a direct, material benefit from the Amended and Restated Credit Agreement, and that the Agent would not execute and deliver, or accept, the
Amended and Restated Credit Agreement, if Guarantor did not execute and deliver to Agent this Reaffirmation. 
 NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Incorporation of Recitals. The Recitals set forth above are hereby incorporated into and made a part of this Reaffirmation. 

2. Ratification and Reaffirmation. Each Guarantor hereby consents to the amendment and restatement of the Existing Credit
Agreement under and pursuant to the Amended and Restated Credit Agreement and all of the transactions contemplated thereby. All the terms, provisions, covenants, representations, warranties, conditions and stipulations contained in the Guarantee,
and all of such Guarantor’s obligations thereunder, are hereby ratified, reaffirmed and confirmed by such Guarantor in all respects, and such Guarantor admits the validity and enforceability of the Guarantee and agrees and admits that it has no
defense to or offset against any such obligation, all of which shall continue to apply with full force and effect to such Guarantor from and after the date hereof. 

 3. Governing Law. This Reaffirmation shall be governed by, and construed in
accordance with, the laws of the State of New York, without regard to conflict of laws principles that would require the application of the laws of another jurisdiction. 
 4. Counterparts. This Reaffirmation may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 5. Successors and Assigns. The provisions of this Reaffirmation shall be binding upon each Guarantor and each such
Guarantor’s heirs, successors and assigns and shall inure to the benefit of and shall be enforceable by the Agent, and its successors, transferees and assigns. 
 [Signature page follows.] 

  
 2 

 IN WITNESS WHEREOF, each Guarantor has executed this Reaffirmation of Guaranty as of
the day and year first above written. 
  

			
	BORROWER:
	
	VIRTUS INVESTMENT PARTNERS, INC.
		
	By:	 	 /s/ Michael A. Angerthal

 
			
	Name: Michael A. Angerthal
	Title: Executive Vice President and Chief Financial Officer

  

			
	GUARANTORS:
	
	DUFF & PHELPS INVESTMENT MANAGEMENT CO.
		
	By:	 	 /s/ Michael A. Angerthal

	Name:	 	Michael A. Angerthal
	Title:	 	Executive Vice President & Treasurer

  

			
	EUCLID ADVISORS LLC
		
	By:	 	 /s/ Michael A. Angerthal

	Name:	 	Michael A. Angerthal
	Title:	 	Executive Vice President & Treasurer

  

			
	KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT, LLC
		
	By:	 	 /s/ Michael A. Angerthal

	Name:	 	Michael A. Angerthal
	Title:	 	Senior Vice President & Chief Financial Officer

  
 Virtus
Investment Partners, Inc. – Reaffirmation of Guarantee 

 
			
	RUTHERFORD FINANCIAL CORPORATION
		
	By:	 	 /s/ David Hanley

	Name:	 	David Hanley
	Title:	 	Vice President & Treasurer
	
	NEWFLEET ASSET MANAGEMENT LLC (f/k/a SCM ADVISORS LLC)
		
	By:	 	 /s/ Michael A. Angerthal

	Name:	 	Michael A. Angerthal
	Title:	 	Senior Vice President & Chief Financial Officer
	
	VIRTUS INVESTMENT ADVISERS, INC.
		
	By:	 	 /s/ Michael A. Angerthal

	Name:	 	Michael A. Angerthal
	Title:	 	Executive Vice President & Chief Financial Officer
	
	VIRTUS PARTNERS, INC.
		
	By:	 	 /s/ Michael A. Angerthal

	Name:	 	Michael A. Angerthal
	Title:	 	Executive Vice President, Chief Financial Officer
	
	ZWEIG ADVISERS, LLC
		
	By:	 	 /s/ Michael A. Angerthal

	Name:	 	Michael A. Angerthal
	Title:	 	Executive Vice President & Chief Financial Officer

  
 Virtus
Investment Partners, Inc. – Reaffirmation of Guarantee 

 SCHEDULE A 
 LIST OF GUARANTORS 
 DUFF & PHELPS INVESTMENT MANAGEMENT CO. 

EUCLID ADVISORS LLC 
 KAYNE ANDERSON RUDNICK
INVESTMENT MANAGEMENT, LLC 
 RUTHERFORD FINANCIAL CORPORATION 
 NEWFLEET ASSET MANAGEMENT LLC (f/k/a SCM ADVISORS LLC) 
 VIRTUS INVESTMENT ADVISERS, INC.

 VIRTUS PARTNERS, INC. 
 ZWEIG
ADVISERS, LLC 

  
 Virtus
Investment Partners, Inc. – Reaffirmation of GuaranteeAmendment No. 1 to the Security Agreement

 Exhibit 10.3 
 AMENDMENT NO. 1 TO SECURITY AGREEMENT 
 AMENDMENT NO. 1, dated as of
September 10, 2012 (this “Amendment”), to the Security Agreement, dated as of September 1, 2009, by and among Virtus Investment Partners, Inc., a Delaware corporation (“Virtus”), each of the subsidiaries
of Virtus listed on Schedule I to the Security Agreement or which became a party thereto thereafter (collectively, the “Subsidiary Guarantors”; the Subsidiary Guarantors and Virtus are referred to collectively herein as the
“Grantors”), and The Bank of New York Mellon, as administrative agent (the “Administrative Agent”) under the Credit Agreement referred to below (as amended, restated, supplemented or otherwise modified from time to
time, the “Security Agreement”). 
 RECITALS 

I. Reference is made to the Amended and Restated Credit Agreement, dated as of September     , 2012, among Virtus,
the Lenders party thereto, PNC Bank, National Association, as syndication agent, and The Bank of New York Mellon, as administrative agent, swingline lender, and issuing bank (as amended, restated, supplemented or otherwise modified from time to
time, the “Credit Agreement”) 
 II. Grantors have requested that the Security Agreement be amended as set
forth herein, and the Administrative Agent is willing to do so subject to the terms and conditions hereinafter set forth. 

III. Capitalized terms used herein and not defined herein shall have the meanings assigned to such terms in the Security Agreement or the
Credit Agreement, as applicable. 
 IV. Accordingly, in consideration of the recitals and the terms and conditions hereinafter
set forth, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, subject to the terms and conditions hereinafter set forth, the Administrative Agent and each Grantor hereby agree as follows:

 1. Section 3.1(a)(iv) is hereby amended by inserting the phrase “and Permitted Encumbrances”
immediately following the word “Liens” contained therein. 
 2. Clause (A) of Section 3.4(d)(iii) is hereby
amended and restated in its entirety to read as follows: 
 “(A) cause each such issuer that is a wholly
owned Subsidiary to execute and deliver to the Administrative Agent an Issuer’s acknowledgement of the pledge,” 
 3.
Notwithstanding anything contained herein to the contrary, paragraphs 1 through 2 of this Amendment shall become effective simultaneously with the occurrence of the Effective Date (as defined in the Credit Agreement). 

 4. Virtus and each other Grantor hereby reaffirms and admits the validity and enforceability
of the Security Agreement and its obligations thereunder, and agrees and admits that as of the date hereof it has no defense to or offset against any such obligation. 
 5. This Amendment may be executed in any number of counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which, when taken
together, shall constitute but one contract. Delivery of an executed counterpart of this Amendment by facsimile transmission or electronic copy (e.g. pdf file) shall be as effective as delivery of a manually executed counterpart of this Amendment.
It shall not be necessary in making proof of this Amendment to produce or account for more than one counterpart signed by the party to be charged. 
 6. This Amendment shall be governed by, and construed in accordance with, the laws of the State of New York, without regard to conflict of laws principles that would require the application of the laws of
another jurisdiction. 
 7. Except as amended hereby, the Security Agreement shall in all other respects remain in full force
and effect. 
 [Signature pages follow.] 

  
 - 2 -

 Virtus Investment Partners, Inc. – Amendment No. 1 to Security Agreement 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by
their respective authorized officers as of the day and year first above written. 
  

			
	VIRTUS INVESTMENT PARTNERS, INC.
		
	By:	 	 /s/ Michael A. Angerthal

 
			
	Name:	 	Michael A. Angerthal
	Title:	 	Executive Vice President and Chief Financial Officer
	
	DUFF & PHELPS INVESTMENT MANAGEMENT CO.
		
	By:	 	 /s/ Michael A. Angerthal

	Name:	 	Michael A. Angerthal
	Title:	 	Executive Vice President & Treasurer
	
	EUCLID ADVISORS LLC
		
	By:	 	 /s/ Michael A. Angerthal

	Name:	 	Michael A. Angerthal
	Title:	 	Executive Vice President & Treasurer
	
	KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT, LLC
		
	By:	 	 /s/ Michael A. Angerthal

	Name:	 	Michael A. Angerthal
	Title:	 	Senior Vice President & Chief Financial Officer
	
	RUTHERFORD FINANCIAL CORPORATION
		
	By:	 	 /s/ David Hanley

	Name:	 	David Hanley
	Title:	 	Vice President & Treasurer

  
 Virtus
Investment Partners, Inc. – Amendment No. 1 to Security Agreement 

 
			
	NEWFLEET ASSET MANAGEMENT LLC (f/k/a SCM ADVISORS LLC)
		
	By:	 	 /s/ Michael A. Angerthal

	Name:	 	Michael A. Angerthal
	Title:	 	Senior Vice President & Chief Financial Officer
	
	VIRTUS INVESTMENT ADVISERS, INC.
		
	By:	 	 /s/ Michael A. Angerthal

	Name:	 	Michael A. Angerthal
	Title:	 	Executive Vice President & Chief Financial Officer
	
	VIRTUS PARTNERS, INC.
		
	By:	 	 /s/ Michael A. Angerthal

	Name:	 	Michael A. Angerthal
	Title:	 	Executive Vice President, Chief Financial Officer
	
	ZWEIG ADVISERS, LLC
		
	By:	 	 /s/ Michael A. Angerthal

	Name:	 	Michael A. Angerthal
	Title:	 	Executive Vice President & Chief Financial Officer

  
 Virtus
Investment Partners, Inc. – Amendment No. 1 to Security Agreement 

 
			
	THE BANK OF NEW YORK MELLON, as Administrative Agent
		
	By:	 	 /s/ Richard G. Shaw

 
			
	Name:	 	Richard G. Shaw
	Title:	 	Vice President

  
 Virtus
Investment Partners, Inc. – Amendment No. 1 to Security Agreement

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