Performance Unit Award Agreement
Pursuant to the Symetra Financial Corporation Equity Plan
THIS AGREEMENT (this “ Agreement ” ) is made, effective as of the 4th day of March, 2010 (the “ Grant
Date ”) , between Symetra Financial Corporation (the “ Company ” ) and [NAME] (the “ Participant ” ).
WHEREAS, pursuant to the Symetra Financial Corporation Equity Plan (the “ Plan ”), the Participant has
been granted an award of [ • ] Performance Units (as defined in the Plan) on the date hereof on the terms and
subject to the conditions set forth in this Agreement;
WHEREAS, in consideration for this award of Performance Units, the Participant agrees to accept the
restrictions set forth herein;
NOW THEREFORE, in consideration of mutual covenants the parties hereto agree as follows:
1. Definitions : Capitalized terms used but not defined in this Agreement have the meanings given to such terms in
the Plan. As used in this Agreement, the following terms shall have the meanings set forth below:
“ Annualized Return on Equity ” means the Company’s average annual return on equity over the Award
Period (as defined below).
“ Earned Value ” means the product of (a) the Value of the Performance Units (as determined pursuant to
Section 3 below) and (b) the Performance Percentage (as determined pursuant to Section 5 below).
“ Minimum Threshold ” means the average daily yield on the 10 Year Treasury Note (as reported in the
Bloomberg GT10 index) over the Award Period.
“ Modified Operating Income ” means the total of (a) net income minus (b) realized gains/(losses) minus
(c) hedge fund investment income plus (d) 30 Year ‘A’ Bond investment income (as reported in the Bloomberg
C00730 index) substituted for equities/hedge fund performance (valued quarterly), each as calculated on an
“ Modified Operating Return on Equity ” means (a) Modified Operating Income divided by (b) the
Company’s GAAP Book Value as of t