Incentive Fee Waiver Agreement between KKR Financial Advisors LLC and KKR Financial Holdings LLC (March 31, 2017)

Contract Categories: Business Finance › Waiver Agreements
Summary

KKR Financial Advisors LLC agrees to waive its right to receive incentive compensation from KKR Financial Holdings LLC for the quarter ending March 31, 2017, as outlined in their existing Management Agreement. This waiver is effective as of March 31, 2017, and fully releases KKR Financial Holdings LLC from any obligation to pay the incentive fee for that period. The agreement is formalized in a letter between the two parties.

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EX-10.1 2 exhibit101incentivefeewaiv.htm EXHIBIT 10.1 Exhibit

Exhibit 10.1

KKR FINANCIAL ADVISORS LLC
555 CALIFORNIA STREET, 50TH FLOOR
SAN FRANCISCO, CA 94104


May 5, 2017

KKR Financial Holdings LLC
555 California Street, 50th Floor
San Francisco, CA 94104
Attention: Chief Executive Officer

Reference is hereby made to the Amended and Restated Management Agreement (as amended through the date hereof, the “Management Agreement”) dated as of May 4, 2007 among KKR Financial Holdings LLC, a Delaware limited liability company (the “Company”), KKR Financial Corp., a Maryland corporation, and KKR Financial Advisors LLC, a Delaware limited liability company (the “Manager”). Capitalized terms used herein and not defined herein shall have the meaning set forth in the Management Agreement, as applicable.
         
By this letter the Manager hereby releases, relinquishes and forever discharges in full the Company from the payment of any Incentive Compensation due to the Manager pursuant to Section 8(d) of the Agreement for the quarterly period ended March 31, 2017. The Manager and Company agree that this letter agreement shall have effect as of March 31, 2017.
                

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