0001047469-09-002047 Sample Contracts

KKR FINANCIAL ADVISORS LLC
Management Agreement • March 2nd, 2009 • KKR Financial Holdings LLC • Finance services

Reference is made to the Amended and Restated Management Agreement, dated as of May 4, 2007, by and 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”), as amended June 15, 2007 (the “Management Agreement”). Capitalized terms used but not defined in this letter agreement shall have the meanings ascribed to them in the Management Agreement.

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