Montpelier Re Holdings Ltd. KVO Capital Management, LLCMontpelier Re Holdings LTD • August 6th, 2010 • Fire, marine & casualty insurance
July 28, 2010 Montpelier Reinsurance Ltd. Montpelier House Hamilton HR HX, BermudaMontpelier Re Holdings LTD • August 6th, 2010 • Fire, marine & casualty insurance • Delaware
This letter agreement is written in connection with the investment by Montpelier Reinsurance Ltd. (the “Investor”) in KVO Capital Offshore Fund, Ltd., a Cayman Islands exempted company (the “Fund”), pursuant to (i) the Fund’s Confidential Private Placement Memorandum dated January 1, 2010 (the “Memorandum”) and (ii) the subscription agreement executed by the Investor (the “Subscription Agreement”). Capitalized terms used herein and not otherwise defined shall have the meanings given to them in the Memorandum. The Investor is currently a party to an Investment Management Agreement with KVO Capital Management, LLC (the “Management Company”) pursuant to which the Management Company manages the KVO Equity Portfolio Account.
THIRD AMENDMENT TO INVESTMENT MANAGEMENT AGREEMENTInvestment Management Agreement • August 6th, 2010 • Montpelier Re Holdings LTD • Fire, marine & casualty insurance
WHEREAS, the Client and the Adviser amended the Investment Management Agreement, effective as of March 10, 2009 to reflect the addition of a separate account runoff portfolio; and
