Document:

exv10w78

Exhibit 10.78

     AMENDMENT NO. 1, dated as of April 18, 2011 (this
“Amendment”), to the Employment Agreement by and between Burger
King Corporation (together with any successor thereto, the
“Company”) and Jonathan Fitzpatrick (the “Executive”),
dated as of October 25, 2010 (the “Employment Agreement”).

          WHEREAS, Executive commenced employment with the Company on June 20, 2005; and

          WHEREAS, the Company desires that Executive continue to serve the Company on the terms and
conditions set forth in the Employment Agreement as herein amended.

          NOW, THEREFORE, the Company and Executive hereby agree that the Employment Agreement shall be
amended as follows:

          1. Position and Responsibilities. Effective February 25, 2011, Section 2(b) of the
Employment Agreement shall be amended to replace the title “Executive Vice President, Global
Operations” with “Executive Vice President, Chief Brand and Operations Officer”.

          2. Base Salary. Effective April 22, 2011, Section 3 of the Employment Agreement is
hereby amended to replace the sum “$350,000” with the sum “$400,000”.

          3. Annual Incentive Compensation. Effective as of January 1, 2011, Section 4 of the
Employment Agreement is amended to replace the words “One Hundred Twenty percent (120%)”with the
words “One Hundred Forty percent (140%)”.

          4. Payments Upon Certain Terminations.

          (a) Effective January 1, 2012, Section 8(f)(i)(A)(1) and Section 8(f)(i)(A)(2) of the
Employment Agreement are deleted in their entireties and replaced with the following:

               “(A)(1) during the period commencing on the first business day following the Date of
Separation from Service and ending on the six (6) month anniversary of the Date of Separation from
Service, Executive shall receive, in substantially equal installments, in accordance with the
Company’s regular payroll policies, an amount equal to the lesser of (x) the Safe Harbor Amount (as
defined below) and (y) one-half (1/2) of the Severance (as defined below) (such lesser amount, the
“Initial Severance Payment”); provided, that such payments shall commence on the
60th day following the Date of Separation from Service (the “Commencement
Date”), provided, further, that the first installment payment shall equal the sum of the
installments that would have been made between the Date of Separation from Service and the
Commencement Date; and

               
For purposes of Section 8(f)(i), the “Safe Harbor Amount” means an amount equal to two
times (2x) the lesser of (1) the sum of Executive’s “annualized

 

 

compensation” within the meaning of Code Section 409A and (2) the maximum amount that may be taken
into account under a qualified plan pursuant to Code Section 401(a)(17) (i.e., with respect to
2010, $245,000). Additionally, for purposes of Section 8(f)(i), the “Severance” means an
amount equal to Executive’s Base Salary as of the Date of Separation from Service.

               (A)(2) during the period commencing on the first business day following the six (6) month
anniversary of the Date of Separation from Service and ending on the first anniversary of the Date
of Separation from Service, Executive shall receive in substantially equal installments, in
accordance with the Company’s regular payroll policies, an amount equal to (x) the Severance minus
(y) the Initial Severance Payment.

               (A)(3) a portion of Executive’s Annual Bonus for the fiscal year of the Company during which
Executive was employed that includes the Date of Separation from Service, such portion to equal the
Pro-Rata Bonus (defined in Section 8(f)(ii) of the Employment Agreement), such amount to be payable
to Executive within five (5) business days following the Bonus Payment Date (defined in Section
8(f)(ii) of the Employment Agreement).”

          (b) Effective January 1, 2012, Section 8(f)(i)(B) of the Employment Agreement is amended to
replace the word “second” with the word “first”.

          (c) Effective January 1, 2012, Section 8(f)(ii) shall be amended by adding the words “and
Section 8(f)(i)(A)(3)” immediately following the words “For purposes of this Section 8(f)(ii)”.

          5. Restrictive Covenants.

          (a) Effective January 1, 2012, Section 9(b) of the Employment Agreement is hereby amended by
deleting the following parenthetical immediately following the phrase “period of one (1) year”:
“(or, in circumstances in which Executive receives severance payments pursuant to Section 8(f)(i)
hereof, the period of two (2) years)”.

          (b) Effective January 1, 2012, Section 9(c) of the Employment Agreement is hereby amended by
deleting the following parenthetical immediately following the phrase “one (1) year period”: “(or,
in circumstances in which Executive receives severance payments pursuant to Section 8(f)(i) hereof,
the two (2) year period)”.

          6. Equity Incentive Compensation. Executive will be eligible to receive the following
grant pursuant to the terms and conditions of the Equity Plan: a grant of options to purchase one
millishare (1/1000th of a share) each of common stock of Burger King Worldwide Holdings,
Inc., with the number of millishares of common stock underlying the options having an aggregate
grant date fair value of $1,000,000, such valuation to be determined by the Company, each option
having an exercise price equal to the fair market value (as defined in the Equity Plan or
applicable award agreement) of one millishare of common stock of Burger King Worldwide Holdings,
Inc. on the grant date, which options will cliff vest on October 19, 2015, provided that Executive remains in
the continuous employment of the Company from the date of grant to the vesting date

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(the “Option Award”). The Option Award will be granted on May 1, 2011 (subject to
postponement as may be required pursuant to Burger King Worldwide Holdings, Inc.’s Equity Grant
Policy). Additionally, the Option Award will be evidenced by award agreements in accordance with
the terms of the Equity Plan and will be subject to all applicable provisions of the Equity Plan.

          7. Modification. The Employment Agreement, except as expressly modified hereby, shall
remain in full force and effect.

          8. Governing Law. This Amendment shall be governed by and construed in accordance
with the laws of the State of Florida without reference to principles of conflicts of laws.

[signature page follows]

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          Intending to be legally bound hereby, the parties have executed this Amendment as of the date first
set forth above.

	 	 	 	 	 
	 	BURGER KING CORPORATION

 	 
	 	    By  	/s/
Bernardo Hees 	 
	 	 	Bernardo Hees 	 
	 	 	 	 
	 	EXECUTIVE

 	 
	 	    by  	/s/
Jonathan Fitzpatrick 	 
	 	 	Jonathan Fitzpatrickexv10w1

Exhibit 10.1

INVESTMENT MANAGEMENT AGREEMENT

     WHITE MOUNTAINS ADVISORS LLC, a Delaware limited liability company (the “Adviser”), having an
address at 200 Hubbard Road, Guilford, Connecticut 06437, and SYMETRA FINANCIAL CORPORATION, a
Delaware corporation (the “Client”), having an address at 777 108th Avenue NE,
Suite 1200, Bellevue Washington, 98004, and each affiliate company of the Client listed on
Schedule B, and each having an address at 777 108th Avenue NE, Suite 1200,
Bellevue Washington, 98004, which hereinafter becomes a party to this Agreement (each, an
“Affiliated Company”, and collectively, the “Affiliated Companies”), hereby enter
into this Investment Management Agreement (this “Agreement”), dated as of June 1, 2011 and
hereby agree that the Adviser shall act as discretionary adviser with respect to certain assets of
the Client and the Affiliated Companies described below (the “Investment Account”) on the
following terms and conditions:

     1. Investment Account. The Investment Account shall consist of the cash and
securities of the Client and the Affiliated Companies managed by the Adviser pursuant to this
Agreement.

     2. Authority. The Client and each Affiliated Company hereby appoints the Adviser as
adviser for the portion of the Investment Account comprised of its investment assets. Except as
may be separately agreed in writing among the Adviser, the Client and any Affiliated Company from
time to time, the Adviser hereby agrees to direct the investments in the Investment Account in
accordance with the investment guidelines agreed upon by the Client, each Affiliated Company and
the Adviser from time to time (the “Standard Guidelines”). Any other agreement by the
Adviser, and the Client or an Affiliated Company to manage investment assets in a manner deviating
from the Standard Guidelines shall be in writing.

     3. Portfolio Management Services. In addition to managing the Investment Account, the
Adviser hereby agrees to provide life insurance portfolio management advisory services (“Portfolio
Management Services”) in respect of the Investment Account and certain other investment assets
outside the Investment Account as mutually agreed by the Client and the Adviser. The Portfolio
Management Services include, without limitation (i) managing the asset / liability characteristics
of the portfolio, (ii) designing and executing portfolio hedging strategies, if any, (iii) ensuring
that investment strategies meet the Client’s accounting and financial objectives, and (iv)
supporting the Client in establishing new product strategies and in pricing new services.

     4. Adviser’s Discretionary Authority. Subject to Section 2, the Adviser shall have
full discretion and authority as agent and attorney-in-fact for the Client and each Affiliated
Company: (a) to make all investment decisions in respect of the Investment Account on behalf of the
Client and the Affiliated Companies and, except as otherwise provided in this Agreement, at the
sole risk of the Client and the Affiliated Companies; (b) to buy, sell, exchange, convert,
liquidate or otherwise trade in respect of the Investment Account in any stock, bond or other
security or investment, including without limitation to private investment funds, hedge funds, and
other pooled investment vehicles (such private investment funds, hedge funds, and other pooled
investment

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vehicles collectively referred to as “Funds”); (c) to facilitate the subscription for, redemption
or transfer of interests in Funds (including but not limited to performing such acts and executing
such documents as may be necessary to subscribe or redeem interests in Funds) and (d) in
furtherance of the foregoing, to do anything which the Adviser shall deem requisite, appropriate or
advisable in connection therewith, including, without limitation, the placing of orders with
respect to, and arrangement for, any of the foregoing, and the selection of such brokers, dealers,
sub-advisers and others as the Adviser shall determine in its absolute discretion. The Adviser
will be responsible for engaging, contracting with, monitoring and terminating sub-advisers;
however, no sub-adviser shall be given discretionary authority over the Investment Account without
the prior approval of the Client, and to the extent affecting the investment assets of any
Affiliated Company.

     5. Liability. In the performance of its services, the Adviser will not be liable for
any error in judgment or any acts or failures to act except those resulting from the Adviser’s
gross negligence, willful misconduct or malfeasance. Nothing herein shall in any way constitute a
waiver or limitation of any right of any person under any applicable U.S. federal or state
securities laws. Except with respect to the Portfolio Management Services, the Adviser shall have
no responsibility or liability whatsoever in respect of assets outside the Investment Account.

     6. Custody. Investment Account assets shall be held in one or more separately
identified accounts in the custody of one or more banks, trust companies, brokerage firms or other
entities designated by the Client and each Affiliated Company, and acceptable to the Adviser. The
Adviser will communicate its investment purchase, sale and delivery instructions directly with the
appropriate custodian or other qualified depository. The Client and each Affiliated Company shall
be responsible for its respective custodial arrangements and the payment of all related custodial
charges and fees, and the Adviser shall have no responsibility or liability with respect to custody
arrangements or the acts, omissions or other conduct of the custodians.

     7. Brokerage. When placing orders for the execution of transactions for the
Investment Account, the Adviser may allocate all transactions to such brokers or dealers, for
execution on such markets, at such prices and commission rates, as are selected by the Adviser in
its sole discretion. In selecting brokers or dealers to execute transactions, the Adviser need not
solicit competitive bids and does not have an obligation to seek the lowest available commission
cost. It is not the Adviser’s practice to negotiate “execution only” commission rates, and, in
negotiating commission rates, the Adviser shall take into account the financial stability and
reputation of brokerage firms and brokerage and research services provided by such brokers. The
Client or any Affiliated Company may be deemed to be paying for research provided or paid for by
the broker which is included in the commission rate although the Client or such Affiliated Company
may not, in any particular instance, be the direct or indirect beneficiary of the research services
provided. Research furnished by brokers may include, but is not limited to, written information
and analyses concerning specific securities, companies or sectors; market, finance and economic
studies and forecasts; certain financial publications; statistics and pricing services; discussions
with research personnel; and certain software and data bases utilized in the investment management
process. The Client and each Affiliated Company acknowledges that since commission rates are
generally negotiable, selecting brokers on the basis of considerations which are not limited to
applicable commission rates may at times result in higher transaction costs than would otherwise be
obtainable.

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The Adviser is hereby authorized to, and the Client and each Affiliated Company acknowledges that
the Adviser may, aggregate orders on behalf of the Investment Account with orders on behalf of
other clients of the Adviser. In such event, the allocation of the securities purchased or sold
and the expenses incurred in the transaction shall be made in a manner that the Adviser considers
to be fair and equitable to all of its clients, including the Client and the Affiliated Companies
and that is consistent with the allocation policies and procedures adopted and implemented by the
Adviser, copies of which will be made available to the Client and/or Affiliated Companies upon
request.

     8. Representations and Warranties.

	 	a)	 	The Client and each Affiliated Company represents, warrants and
agrees that:

	 	(i)	 	it has full legal power and authority to enter into this Agreement;
	 
	 	(ii)	 	the appointment of the Adviser hereunder is permitted
by the Client’s or such Affiliated Company’s governing documents and has
been duly authorized by all necessary corporate or other action;
	 
	 	(iii)	 	it is a “qualified purchaser” as defined in the
Investment Company Act of 1940 and the regulations thereunder and an
“accredited investor” as defined in Regulation D, Rule 501, as promulgated
under the Securities Act of 1933, because it is an entity that owns
investments with a value of at least $25,000,000;
	 
	 	(iv)	 	it is not a “restricted person” under Section IM-2110-1
of the Conduct Rules adopted by the Board of Governors of the National
Association of Securities Dealers, Inc.;
	 
	 	(v)	 	it will notify the Adviser if the preceding
representations in (iii) and (iv) become false during the term of this
Agreement and will provide the Adviser with any information that may be
required to complete any subscription agreements for Funds;
	 
	 	(vi)	 	it is not (a) an employee benefit plan, (b) an IRA, (c) a
“benefit plan investor” subject to the Employee Retirement Income Security
Act of 1974, as amended, or Section 4975 of the Internal Revenue Code of
1986, as amended, or (d) an entity in which the participation by “benefit
plan investors” is “significant”, as those terms are defined in regulations
issued by the U.S. Department of Labor;
	 
	 	(vii)	 	it understands that the Adviser will be relying upon
the representations and information provided herein or in connection herewith
by the Client and/or the Affiliated Companies in completing and entering into
subscription agreements on behalf of the Investment Account; and
	 
	 	(viii)	 	it will indemnify the Adviser and hold it harmless against any and all
losses, costs, claims and liabilities which the Adviser may suffer or incur

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	 	 	 	arising out of any material breach of its representations and warranties
herein.

	 	b)	 	The Adviser represents, warrants and agrees that:

	 	(i)	 	it has full legal power and authority to enter into this Agreement;
	 
	 	(ii)	 	it is registered as an investment adviser with the
Securities and Exchange Commission pursuant to the Investment Advisers Act
of 1940, as amended (the “Advisers Act”);
	 
	 	(iii)	 	entering into this Agreement has been duly
authorized by all necessary corporate or other action under the Adviser’s
governing document;
	 
	 	(iv)	 	it will indemnify the Client and each Affiliated
Company and hold it harmless against any and all losses, costs, claims and
liabilities which the Client and/or such Affiliated Company may suffer or
incur arising out of any material breach of any representations and
warranties of the Adviser;
	 
	 	(v)	 	it has established Anti-Money Laundering Policy &
Procedures pursuant to Section 352 of the USA Patriot Act; and,
	 
	 	(vi)	 	it endeavors to value all securities at fair market
value in a manner determined by the Adviser to be consistent with (1) its
Valuations Policies and Procedures, as may be amended from time to time,
and (2) industry practice. A copy of these policies and procedures are
available to the Client and/or Affiliated Companies upon request. The
Adviser will not serve as the official pricing agent with respect to the
Investment Account but may provide recommendations regarding fair
valuation, if the Client or an Affiliated Company so requests.

     9. Reports. The Adviser shall provide the Client with reports on the status of the
Investment Account on a monthly basis. All records maintained pursuant to this Agreement shall be
subject to examination by the Client and, as it relates to its own investment assets, each
Affiliated Company, and by persons authorized by it, or by appropriate governmental authorities, at
all times upon reasonable notice. The Adviser shall provide copies of trade tickets, custodial
reports and other records that the Client and/or any Affiliated Company shall reasonably require
for accounting or tax purposes.

     10. Fees and Expenses.

          (a) The Adviser will be paid (i) a quarterly Management Fee for its investment advisory
services in respect of the Investment Account, and (ii) a quarterly Portfolio Management Services
Fee for its Portfolio Management Services, in each case, as determined in accordance with
Schedule A to this Agreement. During the term of this Agreement, the fees shall be billed
and payable in arrears on a quarterly basis within 60 days after the last day of each calendar
quarter

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based upon asset values determined as of the last day of said calendar quarter in accordance with
Schedule A. Fees shall be pro-rated for any partial quarter. Capital inflows and outflows
will be time-weighted so that fees will be charged for only the period of time such assets are
actually managed by the Adviser. In the event that fees are to be paid by the custodian out of the
Investment Account, the Client and/or the relevant Affiliated Company will provide written
authorization to the custodian.

          (b) The Client or an Affiliated Company shall be responsible for all expenses incurred
directly in connection with transactions effected on behalf of the Client or such Affiliated
Company pursuant to this Agreement. These expenses shall include but are not limited to (i)
custodial fees; (ii) PAM (or other) accounting service fees, (iii) Charles River (or other)
compliance service fees, (iv) investment expenses such as commissions; and (v) other expenses
reasonably related to the purchase, sale or transmittal of Investment Account assets, provided that
the Adviser shall be responsible for research fees and expenses.

          (c) Sub-advisory management or performance fees (“Sub-adviser Fees”), if any, will be borne
by the Client and/or the affected Affiliated Companies. No Management Fee shall accrue on any
assets with respect to which Sub-adviser Fees are paid. At the Adviser’s discretion, Sub-adviser
Fees may be structured to be paid directly to the sub-adviser by the Client or Affiliated Companies
or be paid by the Adviser and reimbursed by the Client or Affiliated Companies without any markup.

          For the avoidance of doubt, Investment Account assets invested by the Advisor in Funds are not
deemed to be sub-advised for purposes of this Agreement, and any management fees or performance
fees charged by such Funds shall be borne by the Client or the affected Affiliated Companies in the
ordinary course and not deemed to be Sub-adviser Fees.

     11. Confidential Relationship. All information and advice furnished by any party to
another party pursuant to this Agreement shall be treated by the receiving party as confidential
and shall not be disclosed to third parties except as required by law.

     12. Assignment. This Agreement may not be assigned (within the meaning of the
Advisers Act) by any party without the written consent of the other party, and any assignment
without such consent shall automatically cause the termination hereof.

     13. Directions to the Adviser. All directions by or on behalf of the Client or an
Affiliated Company to the Adviser shall be in writing and may be delivered in any manner permitted
by Section 17. The Adviser (i) shall be fully protected in relying upon any such writing that the
Adviser believes to be genuine and to be signed or presented or sent by the proper person or
persons (ii) shall be under no duty to make any investigation or inquiry as to any statement
contained therein and (iii) may accept the same as conclusive evidence of the truth and accuracy of
the statements therein contained.

     14. Services to Other Clients. It is understood that the Adviser acts as investment
adviser to other clients and may give advice and take action with respect to such clients that
differs from the advice given or the action taken with respect to the Investment Account. Nothing
in this

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Agreement shall restrict the right of the Adviser, its members, managers, officers, employees or
affiliates to perform investment management or advisory services for any other person or entity,
and the performance of such service for others shall not be deemed to violate or give rise to any
duty or obligation to the Client and/or the Affiliated Companies.

     15. Investment by the Adviser for Its Own Account. Nothing in this Agreement shall
limit or restrict the Adviser or any of its members, managers, officers, employees or affiliates
from buying, selling or trading any securities for its or their own account or accounts. The
Client and each Affiliated Company acknowledges that the Adviser and its members, managers,
officers, employees, affiliates and other clients may at any time have, acquire, increase, decrease
or dispose of securities which are at or about the same time acquired or disposed of for the
account of the Client or an Affiliated Company. The Adviser shall have no obligation to purchase
or sell for the Investment Account or to recommend for purchase or sale by the Investment Account
any security that the Adviser or its members, managers, officers, employees or affiliates may
purchase or sell for itself or themselves or for any other client.

     16. Proxies. Subject to any other written instructions of the Client or any
Affiliated Company, the Adviser is hereby appointed as the agent and attorney-in-fact of the Client
and each Affiliated Company in its discretion to vote, convert or tender in an exchange or tender
offer any securities in the Investment Account; to execute proxies, waivers, consents and other
instruments with respect to such securities; to endorse, transfer or deliver such securities; and
to participate in or consent to any plan of reorganization, merger, combination, consolidation,
liquidation or similar plan with reference to such securities. The Adviser shall not incur any
liability to the Client or any Company Affiliate by reason of any exercise of, or failure to
exercise, any such discretion.

     17. Notices. All notices and instructions with respect to securities transactions or
any other matters contemplated by this Agreement shall be deemed duly given when actually received
by the intended party in writing, via facsimile, or e-mail or by first-class mail to the following
addresses: (a) if to the Adviser, at its address set forth above, Attention: Chief Financial
Officer, if by facsimile to 203.458.0754 and if by e-mail,
mplourde@whitemountainsadvisors.com or
(b) if to the Client or any Affiliated Company, at its address set forth above, Attention: Director
of Banking and Investment Services, if by facsimile to 425.256.8205 and if by e-mail,
michael.james@symetra.com. Any of the Adviser, the Client or an Affiliated Company may change
its physical address, facsimile number or e-mail address or specify a different manner of
addressing itself by giving notice of such change in writing to the other party.

     18. Joining and Severing Affiliated Companies. From time to time while this Agreement
remains in effect, the Client may cause any other of its affiliates to become an Affiliated Company
hereunder by executing a written agreement among the Client, the Adviser and such affiliate in a
form reasonably acceptable to each of them, after which the affiliate shall, for all purposes, be
treated as an “Affiliated Company” hereunder, including, without limitation, granting the
authorities, making the representations and warranties and accepting the obligations of an
Affiliated Company in this Agreement. From time to time, the Client and/or the Adviser may sever
any Affiliated Company from this Agreement by executing a written agreement among the Client, the
Adviser and such Affiliated Company in a form reasonably acceptable to each of them, after which
the Affiliated Company shall no longer be treated as being party to this Agreement. The

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Adviser will periodically update Schedule B to reflect the addition or removal of
Affiliated Companies.

     19. Entire Agreement; Amendment. This Agreement sets forth the entire agreement of
the parties with respect to management of the Investment Account and to the provision of Portfolio
Management Services, and supersedes any previous Investment Management Agreement between the
Adviser and the Client or any Affiliated Company and shall not be amended except by an instrument
in writing signed by the parties hereto.

     20. Arbitration. Any controversy or claim arising out of or relating to this
Agreement, or the breach of the same, shall be settled by arbitration in accordance with the rules
of the American Arbitration Association, and judgment upon the award rendered by the arbitrators
may be entered in any court having jurisdiction. All arbitration expenses shall be borne equally
by the Adviser, on the one hand, and the Client and any implicated Affiliated Company, on the other
hand. Any arbitration proceeding arising under this Agreement will be conducted in the County of
New York in the State of New York or such other location as the parties mutually agree.

     21. Termination. This Agreement shall continue in force from the date hereof for an
initial one-year term (“initial term”), which may be extended by the Client in its sole discretion
upon 60 days notice prior to the end of the initial term for an additional one-year term (“second
year extension”), and if so extended, then, again in the Client’s sole discretion upon 60 days
notice prior to the end of the second year extension, for an additional one-year term (“third year
extension”). During the initial term and any extension, this Agreement may be terminated by either
party only for cause (including material non-performance). Following the end of the initial term
and any extensions, this Agreement may be terminated by either party without penalty by written
notice to the other party at least sixty (60) days prior to the date upon which such termination is
to become effective, provided that the Client or any Affiliated Company honor any trades executed
but not settled before the date of any such termination. Upon termination of this Agreement, (i)
any accrued and unpaid Management Fee hereunder, (ii) accrued reimbursable expenses and (iii) any
reasonable additional expenses incurred in closing out the Account shall be paid by the Client or
the relevant Affiliated Company to the Adviser. Termination of this Agreement will not affect any
accrued rights, indemnities, existing commitments or any contractual provisions intended to survive
termination. The Adviser may direct the custodian to retain assets in the Investment Account to
settle committed transactions.

     22. Severability. If any provision of this Agreement (or any portion thereof) or the
application of any such provision (or any portion thereof) to any person or circumstance shall be
held invalid, illegal or unenforceable in any respect by a court of competent jurisdiction, such
invalidity, illegality or unenforceability shall not affect any other provision hereof (or the
remaining portion thereof) or the application of such provision to any other persons or
circumstances.

     23. Governing Law. To the extent that the interpretation or effect of this Agreement
shall depend on state law, this Agreement shall be governed by and construed in accordance with the
laws of the State of New York.

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     24. Effective Date and Term. This Agreement shall become effective on the first date
written above.

     25. Receipt of Disclosure Statement. The Client and each Affiliated Company
acknowledges receipt of a copy of Part II of the Adviser’s Form ADV in compliance with Rule
204-3(b) under the Investment Advisers Act of 1940, as amended, more than 48 hours prior to the
date of execution of this Agreement. The Adviser shall annually and without charge, upon request
by the Client, deliver to the Client the current version of such form or a written document
containing the information then required to be contained in such form.

     26. Counterparts. This Agreement may be executed in two counterparts, each one of
which shall be deemed to be an original.

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
respective duly authorized representatives as of the date first written above.

	 	 	 	 	 	 	 

	 
	ADVISER:	 	CLIENT:
	 
	WHITE
MOUNTAINS ADVISORS LLC	 	SYMETRA FINANCIAL CORPORATION
	 
	By: 	 /s/ Manning Rountree	 	By: 	         /s/ Margaret A. Meister
	 	Print: Manning Rountree	 	 	Print:      Margaret A. Meister
	 	Title:	 President	 	 	Title:	  Executive Vice President and

	 	 	 	 	 	 	  Chief Financial Officer

AFFILIATED COMPANIES:

	 	 	 	 	 
	 	SYMETRA LIFE INSURANCE COMPANY

SYMETRA NATIONAL LIFE INSURANCE COMPANY

 	 
	 	By:  	/s/ Margaret A. Meister
 	 
	 	 	Print:                    Margaret A. Meister 	 
	 	 	Title:  	Executive Vice President and
Chief Financial Officer 	 

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SYMETRA INVESTMENT SERVICES, INC.

 	 
	 	By:  	/s/ Margaret A. Meister
 	 
	 	 	Print:                 Margaret A. Meister 	 
	 	 	Title:  	Director 	 
	 
	 	FIRST SYMETRA NATIONAL LIFE INSURANCE COMPANY OF NEW YORK

 
	 	By:  	/s/ Margaret A. Meister
 	 
	 	 	Print:                             Margaret A. Meister 	 
	 	 	Title:  	Executive Vice President and
Chief Financial Officer 	 
	 
	 	TIF INVEST III, LLC

 	 
	 	By:  	/s/ Margaret A. Meister
 	 
	 	 	Print:          Margaret A. Meister 	 
	 	 	Title:  	President 	 

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SCHEDULE A

	1.	 	Management Fee.

	 	 	The Management Fee will be calculated according to the following schedule. The basis for
calculation will be the assets under management in the Investment Account that are managed
by the Adviser (excluding assets under management in the Investment Account that are
sub-advised by a third-party and with respect to which Sub-adviser Fees are paid by the
Client as set forth in Section 10(c) of this agreement).

	 	 	 	 	 	 	 
	Assets Under Management in	 	 	 	 	 	 
	the Investment Account	 	Value	 	Annual Fee	 	Quarterly Fee
	Investment Grade Fixed Income:
	 	 	 	 	 	 
	Up to $1 billion
	 	Book	 	10.0 basis points	 	2.5 basis points
	 
	 	 	 	(0.1% or 0.001)	 	(0.025% or 0.00025)
	$1 billion — $2 billion
	 	Book	 	8.5 basis points	 	2.125 basis points
	$2 billion — $5 billion
	 	Book	 	7.5 basis points	 	1.875 basis points
	Greater than $5 billion
	 	Book	 	2.5 basis points	 	0.625 basis points
	High Yield Debt
	 	Market	 	25.0 basis points	 	6.25 basis points
	Equities
	 	Market	 	100.0 basis points	 	25.0 basis points
	Fully Funded Hedge Funds
	 	Market	 	100.0 basis points	 	25.0 basis points
	Private Equities & Other
Deferred Fundings:
	 	 	 	 	 	 
	First 2 Years of Fund’s Life
	 	Committed	 	100.0 basis points	 	25.0 basis points
	Thereafter
	 	Market	 	100.0 basis points	 	25.0 basis points
	Affordable Housing Credit Funds:
	 	 	 	 	 	 
	First Year of Fund’s Life
	 	Committed	 	100.0 basis points	 	25.0 basis points
	Thereafter
	 	Market	 	10.0 basis points	 	2.5 basis points

	2.	 	Portfolio Management Services Fee.
	 
	 	 	The Portfolio Management Services Fee will be equal to one-half of one basis point (0.005%)
per annum. The basis for calculation will be the sum of (A) the assets under management in
the Investment Account, whether managed directly by the Adviser or sub-advised, (B) the
assets under management in the Client’s Commercial Loan Portfolio, in each case and (C)
other investment assets as mutually agreed by the Client and Adviser from time to time. The
values for all assets included in clause (A) shall be determined according to the
methodologies (book, market or committed) set forth in the schedule above.

10

 

SCHEDULE B

AFFILIATED COMPANIES

Symetra Life Insurance Company

Symetra National Life Insurance Company

First Symetra National Life Insurance Company of New York

Symetra Investment Services, Inc.

TIF Invest III, LLC

11

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