| Spin-off From Teledyne
Kemper Corporation formerly known as Unitrin, Inc. (The "Company" or "Kemper") was incorporated in the State of Delaware
on February 14, 1990. The Company subsequently issued 55,412,845 shares of its $0.10
par value common stock to Teledyne, Inc. (“Teledyne”) in exchange for Teledyne’s
investment in United Insurance Company of America, Trinity Universal Insurance Company,
Fireside Securities Corporation, Unitrin Life Insurance Company (formerly Teledyne
Life Insurance Company) and their respective subsidiaries. On March 31, 1990, Teledyne
placed the shares of the Company’s stock in an irrevocable trust for the ultimate
distribution to holders of Teledyne common stock, and the Company ceased to be a
subsidiary of Teledyne. The distribution of Unitrin common stock to shareholders
of Teledyne was made on April 20, 1990.
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Curtiss-Wright Distribution
Holders of record of Unitrin Common Stock at the close of business on November
12, 2001 participated in the distribution by Unitrin of all of the Class B Common
Stock of Curtiss-Wright Corporation (“C-W”) held by Unitrin. Each holder of Unitrin
Common Stock received 0.064948 shares of C-W Class B Common Stock for each share
of Unitrin Common Stock held. The aggregate fair value of C-W shares distributed,
based on the closing price before the ex-distribution date for the spin-off, was
$196.1 million, or $2.91 per Unitrin Common Stock.
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