Document:

EX-10.5

 Exhibit 10.5 

EXECUTION VERSION 
  

			
	 CREDIT SUISSE SECURITIES (USA)

LLC
 CREDIT SUISSE
AG
 Eleven Madison Avenue

New York, New York 10010
	  	 JEFFERIES FINANCE LLC

520 Madison Avenue
 New York, New
York 10022

		
	 DEUTSCHE BANK AG CAYMAN

ISLANDS BRANCH

DEUTSCHE BANK SECURITIES INC.

60 Wall Street

New York, NY 10005
	  	 HSBC BANK USA, NATIONAL

ASSOCIATION
 HSBC
SECURITIES (USA) INC.
 425 Fifth Avenue

New York, New York 10018

 CONFIDENTIAL 

February 12, 2018 
 Wand Merger Corporation 

Fifth Avenue Plaza 
 800 Fifth Avenue, Suite 4100 

Seattle, Washington 98104 
 Attention: Chad Smith 

c/o Kohlberg Kravis Roberts & Co. L.P. (“KKR”) 

9 West 57th Street 

New York, New York 10019 
 Attn: Cade Thompson 

Project Eclipse 

Commitment Letter 
 Ladies and Gentlemen:

 You have advised each of Credit Suisse AG (acting through such of its affiliates or branches as it deems appropriate,
“CS”), Credit Suisse Securities (USA) LLC (“CS Securities” and, together with CS and their respective affiliates, “Credit Suisse”), Jefferies Finance LLC
(“Jefferies”), Deutsche Bank AG Cayman Islands Branch (“DBCI”), Deutsche Bank Securities Inc. (“DBSI”, together with DBCI, “DB”), HSBC Bank USA, National
Association (“HSBC Bank”) and HSBC Securities (USA) Inc. (“HSBC Securities” and, together with HSBC Bank, “HSBC” and, together with Credit Suisse, Jefferies, DB, HSBC and any
Additional Commitment Party (as defined below), collectively, the “Commitment Parties”, “we” or “us”) that Wand Merger Corporation (“Buyer” or
“Borrower”), an affiliate of WMIH Corp. (“WMIH”; WMIH together with Buyer, “you”), intends to acquire (the “Acquisition”), directly or indirectly, all of
the outstanding equity interests of the entity previously identified to us by you as “Eclipse”, a Delaware corporation (the “Company”). You have further advised us that, in connection with the foregoing, you intend
to consummate the other Transactions described in the Transaction Description attached hereto as Exhibit A (the “Transaction Description”). Capitalized terms used but not defined herein shall have the meanings assigned
to them in the Transaction Description or Exhibit B (the “Term Sheet”; this commitment letter, the Transaction Description, the Term Sheet and the Summary of Additional Conditions attached hereto as Exhibit C, collectively,
the “Commitment Letter”). 
 You have further advised us that, in connection therewith, it is intended that the
financing for the Transactions will include either (x) up to $2,750 million in aggregate principal amount of senior 

 
unsecured notes (the “Senior Unsecured Notes” or the “Notes”) in a Rule 144A private placement or (y) if all or any portion of the Senior
Unsecured Notes are not issued by the Borrower on or prior to the Closing Date (as defined below), up to $2,750 million of senior unsecured increasing rate loans (the “Bridge Loans”), under the senior unsecured credit
facility (the “Bridge Facility”) described in the Term Sheet. 
 In connection with the foregoing, Credit Suisse is
pleased to advise you of its several and not joint commitment to provide 35%, Jefferies is pleased to advise you of its several and not joint commitment to provide 27.5%, DBCI is pleased to advise you of its several and not joint commitment to
provide 25% and HSBC Bank is pleased to advise you of its several and not joint commitment to provide 12.5%, subject only to the satisfaction or waiver of the applicable conditions set forth in the section entitled “Conditions to
Borrowing” in Exhibit B hereto (in each case, limited on the Closing Date (as defined below) as indicated therein) and in Exhibit C hereto. Credit Suisse, Jefferies, DBCI and HSBC Bank are referred to herein as the “Initial
Lenders”. 
 It is agreed that (i) each of CS Securities, Jefferies (acting through any of its affiliates or branches as
it deems appropriate), DBSI and HSBC Securities will act as a lead arranger for the Bridge Facility (each in such capacity, a “Lead Arranger”) and (ii) Credit Suisse will act as administrative agent for the Bridge
Facility (in such capacity, the “Administrative Agent). It is further agreed that CS Securities shall have “left” placement in any and all marketing materials or other documentation used in connection with the Bridge
Facility. Within 15 business days after the date of this Commitment Letter, you may appoint additional joint lead arrangers, joint bookrunners agents, co-agents or
co-managers (any such arranger, bookrunner, agent, co-agent or co-manager, an “Additional Commitment
Party”) or confer other titles in respect of the Bridge Facility in a manner and with economics determined by you (it being understood that, to the extent you appoint Additional Commitment Parties or confer other titles in respect of
the Bridge Facility, the economics allocated to, and the amount of the commitments of, the Commitment Parties in respect of the Bridge Facility will be ratably reduced by the economics allocated to and the amount of the commitments of such appointed
entities upon the execution by such financial institution of customary joinder documentation and, thereafter, each such financial institution shall constitute a “Commitment Party” and “Initial Lender” hereunder and under the Fee
Letter); provided that the Initial Lenders on the date hereof shall have not less than 75.0% of the total economics for the Bridge Facility on the Closing Date. Except as provided in this paragraph, no other titles will be awarded and no
compensation (other than that expressly contemplated by this Commitment Letter and the Fee Letter referred to below and other than in connection with any Additional Commitment Party) will be paid to any Lender in order to obtain its commitment to
participate in the Bridge Facility unless you and the Commitment Parties shall so agree. The respective commitments of the Initial Lenders shall be several and not joint. 

The Lead Arrangers reserve the right, prior to or after the execution of the Bridge Facility Documentation (as defined in Exhibit B), which we
agree will be initially drafted by your counsel, to syndicate all or a portion of the Initial Lenders’ respective commitments hereunder to a group of banks, financial institutions and other institutional lenders identified by the Lead Arrangers
in consultation with you and reasonably acceptable to them and you with respect to the identity of such lenders (your consent not to be unreasonably withheld or delayed) including, without limitation, any relationship lenders designated by you and
reasonably acceptable to the Lead Arrangers (such banks, financial institutions and other institutional lenders, together with the Initial Lenders, the “Lenders”); provided that, notwithstanding each Lead
Arranger’s right to syndicate the Bridge Facility and receive commitments with respect thereto (but subject to the fourth paragraph of this Commitment Letter), it is agreed that (i) syndication of, or receipt of commitments or
participations in respect of, all or any portion of an Initial Lender’s commitments hereunder prior to the date of the consummation of the Acquisition and the date of the initial funding under the Bridge Facility (the date of such funding or
issuance of Senior Unsecured 

  
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Notes, the “Closing Date”)shall not be a condition to such Initial Lender’s commitments; (ii) except as provided above with respect to appointment of Additional
Commitment Parties, no Initial Lender shall be relieved, released or novated from its obligations hereunder (including its obligation to fund the Bridge Facility on the Closing Date) in connection with any syndication, assignment or participation of
the Bridge Facility, including its commitments in respect thereof, until after the initial funding of the Bridge Facility has occurred; (iii) no assignment or novation shall become effective with respect to all or any portion of any Initial
Lender’s commitments in respect of the Bridge Facility until after the initial funding of the Bridge Facility; (iv) unless you otherwise agree in writing, each Commitment Party shall retain exclusive control over all rights and obligations
with respect to its commitments in respect of the Bridge Facility, including all rights with respect to consents, modifications, supplements, waivers and amendments, until the Closing Date has occurred; and (v) we will not syndicate our
commitments to certain banks, financial institutions and other institutional lenders and investors (a) that have been separately identified in writing by you or the Sponsor to us prior to the date hereof (or, if after such date, that are
reasonably acceptable to the Lead Arrangers holding a majority of the aggregate amount of outstanding financing commitments in respect of the Bridge Facility on the date hereof (the “Majority Lead Arrangers”), (b) those
persons who are competitors of the Borrower or the Company and their respective subsidiaries that are separately identified in writing by you or the Sponsor to us from time to time, and (c) in the case of each of clauses (a) and (b), any
of their affiliates (other than bona fide debt fund affiliates) that are either (x) identified in writing by you or the Sponsor from time to time or (y) clearly identifiable on the basis of such affiliate’s name (clauses (a), (b) and
(c) above, collectively “Disqualified Lenders”); provided that designations of Disqualified Lenders may not apply retroactively to disqualify any entity that has previously acquired an assignment or participation in the
Bridge Facility. 
 Without limiting your obligations to assist with syndication efforts as set forth herein, it is understood that the
Initial Lenders’ commitments hereunder are not conditioned upon the syndication of, or receipt of commitments or participations in respect of, the Bridge Facility and in no event shall the commencement or successful completion of syndication of
the Bridge Facility constitute a condition to the availability of the Bridge Facility on the Closing Date. The Lead Arrangers intend to commence syndication efforts promptly upon the execution by each party of this Commitment Letter and as part of
their syndication efforts, it is their intent to have Lenders commit to the Bridge Facility prior to the Closing Date (subject to the limitations set forth in the preceding paragraph). You agree actively to assist the Lead Arrangers, until the
earlier to occur of (i) a Successful Syndication (as defined in the Fee Letter) and (ii) 30 days after the Closing Date (such earlier date, the “Syndication Date”), in completing a timely syndication that is reasonably
satisfactory to them and you. Such assistance shall include, without limitation, (a) your using commercially reasonable efforts to ensure that any syndication efforts benefit materially from your existing lending and investment banking
relationships and the existing lending and investment banking relationships of KKR and its affiliates (collectively, the “Sponsor”) and, to the extent not in contravention of the terms of the Acquisition Agreement as in
effect on the date hereof, the Company, (b) direct contact between senior management, representatives and advisors of you and the Sponsor, on the one hand, and the proposed Lenders, on the other hand (and your using commercially reasonable
efforts, to the extent not in contravention of the terms of the Acquisition Agreement as in effect on the date hereof, to ensure such contact between senior management, representatives and advisors of the Company, on the one hand, and the proposed
Lenders, on the other hand), in all such cases at times and places mutually agreed upon, (c) your and the Sponsor’s assistance, and your using commercially reasonable efforts to cause the Company to assist, to the extent not in
contravention of the terms of the Acquisition Agreement as in effect on the date hereof, in the preparation of customary confidential information memorandum for the Bridge Facility (any such memorandum, a “Confidential Information
Memorandum”) and other marketing materials to be used in connection with the syndications, in each case, in a form consistent with the materials used by other portfolio companies of the Sponsor in connection with the syndications of
bridge facilities and using commercially reasonable efforts to provide information and other customary materials reasonably requested in connection with such Confidential 

  
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Information Memorandum no less than 15 consecutive business days prior to the Closing Date, (d) using your commercially reasonable efforts to procure updated public corporate credit rating
and a public corporate family rating in respect of WMIH from Standard & Poor’s Ratings Services (“S&P”) and Moody’s Investors Service, Inc. (“Moody’s”), respectively, and
public ratings for each of the Bridge Facility and the Notes from each of S&P and Moody’s, in each case, at least five business days prior to the Closing Date, (e) the hosting, with the Lead Arrangers, of no more than one meeting of
prospective Lenders at a time to be mutually agreed upon and additional telephonic meetings to be mutually agreed and (f) your ensuring (and with respect to the Company and its subsidiaries, to the extent not in contravention of the terms of
the Acquisition Agreement as in effect on the date hereof, your using commercially reasonable efforts to ensure) that there shall be no competing issues of debt securities or commercial bank or other credit facilities (other than the Bridge
Facility) of WMIH, the Company or any of their respective subsidiaries being offered, placed or arranged (other than the Notes (or the issuance of any “demand securities” issued in lieu of the Notes or other indebtedness issued in lieu of
the Notes that has otherwise been consented to by the Majority Lead Arrangers (such consent not to be unreasonably withheld or delayed)) if such debt securities or commercial bank or other credit facilities would, in the reasonable judgment of the
Lead Arrangers, materially impair the primary syndication of the Bridge Facility (it is understood and agreed that any deferred purchase price obligations, indebtedness to finance or refinance the purchase, origination, pooling or funding of
mortgage servicing rights, residual funding facilities, securitization indebtedness, servicing advance facilities, warehouse facilities and credit enhancement agreements, in each case necessary for execution of the Borrower’s line of business
and either consistent with past practice or in the ordinary course of business, ordinary course working capital facilities and ordinary course capital lease, purchase money, equipment financings and other indebtedness permitted to be incurred or
remain outstanding by the Acquisition Agreement will not be deemed to materially impair the primary syndication of the Bridge Facility). Notwithstanding anything to the contrary contained in this Commitment Letter or the Fee Letter or any other
letter agreement or undertaking concerning the financing of the Transactions to the contrary, neither the obtaining of the ratings referenced above nor the compliance with any of the other provisions set forth in clauses (a) through (f) above
or any other provision of this paragraph shall constitute a condition to the commitments hereunder or the funding of the Bridge Facility on the Closing Date or at any time thereafter. 

The Lead Arrangers, in their capacities as such, will, in consultation with you, manage all aspects of any syndication of the Bridge Facility,
including decisions as to the selection of institutions reasonably acceptable to you to be approached and when they will be approached, when their commitments will be accepted, which institutions will participate (subject to your consent rights and
rights of appointment set forth in the second preceding paragraph), the allocation of the commitments among the Lenders and the amount and distribution of fees among the Lenders from the amounts to be paid to the Commitment Parties pursuant to this
Commitment Letter and the Fee Letter. To assist the Lead Arrangers in their syndication efforts, you agree promptly to prepare and provide (and to use commercially reasonable efforts, to the extent not in contravention of the terms of the
Acquisition Agreement as in effect on the date hereof, to cause the Sponsor and the Company to provide) to the Lead Arrangers all customary information with respect to you and the Company and each of your and its respective subsidiaries and the
Transactions, including all financial information, as the Lead Arrangers may reasonably request in connection with the structuring, arrangement and syndication of the Bridge Facility. For the avoidance of doubt, you will not be required to provide
any information to the extent that the provision thereof would violate any law, rule or regulation binding upon you or any of your subsidiaries or affiliates or upon the Company or any of its respective subsidiaries or affiliates or any obligation
of confidentiality binding upon, or waive any attorney-client privilege of, you, the Company or your or its respective subsidiaries and affiliates (in which case you agree to use commercially reasonable efforts to have any such confidentiality
obligation waived, and otherwise in all instances, to the extent practicable and not prohibited by applicable law, rule or regulation, promptly notify us that information is being withheld pursuant to this sentence). Notwithstanding anything herein
to the contrary, the only financial statements 

  
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that shall be required to be provided to the Commitment Parties in connection with the syndication of the Bridge Facility on or prior to the Closing Date shall be those required to be delivered
pursuant to paragraphs 4 and 5 of Exhibit C. 
 You hereby represent and warrant that (with respect to the Company and its subsidiaries and
its and their respective businesses, to your knowledge) all written information and written data (such information and data, other than information of a general economic or industry specific nature, the “Information”) that
has been or will be made available to the Commitment Parties by or on behalf of you or any of your representatives, taken as a whole, is or will be, when furnished, correct in all material respects and does not or will not, when furnished, and when
taken as a whole, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements contained therein not materially misleading in light of the circumstances under which such statements are
made (after giving effect to all supplements and updates thereto from time to time). You agree that if, at any time prior to the later of the Closing Date and the Syndication Date, you become aware that any of the representations and warranties in
the preceding sentence would be incorrect in any material respect if the Information were being furnished, and such representations and warranties were being made, at such time, then you will use commercially reasonable efforts to promptly
supplement the Information so that such representations and warranties will be correct in all material respects (with respect to the Company and its subsidiaries and its and their respective businesses, to your knowledge) under those circumstances.
In arranging and syndicating the Bridge Facility, the Commitment Parties will be entitled to use and rely primarily on the Information without responsibility for independent verification thereof. 

As consideration for the commitments of the Initial Lenders hereunder and for the agreement of the Lead Arrangers to perform the services
described herein, you agree to pay (or cause to be paid) the fees set forth in the Term Sheet and in the Fee Letter dated the date hereof and delivered herewith with respect to the Bridge Facility (the “Fee Letter”), if and
to the extent payable. Once paid, such fees shall not be refundable under any circumstances, except as otherwise contemplated by the Fee Letter. 

The several commitments of the Initial Lenders hereunder to fund the Bridge Facility on the Closing Date and the several agreements of the
Lead Arrangers to perform the services described herein are subject solely to (a) the applicable conditions set forth in the section entitled “Conditions to Borrowing” in Exhibit B hereto and (b) the applicable conditions set
forth in Exhibit C hereto, and upon satisfaction (or waiver by the Commitment Parties) of such conditions, the initial funding of the Bridge Facility or the issuance of the Senior Unsecured Notes shall occur, it being understood that there are no
conditions (implied or otherwise) to the commitments hereunder and there will be no conditions (implied or otherwise) under the Bridge Facility Documentation to the funding of the Bridge Facility on the Closing Date, including compliance with the
terms of this Commitment Letter, the Fee Letter or the Bridge Facility Documentation, other than those that are expressly stated in the section entitled “Conditions to Borrowing” in Exhibit B hereto and in Exhibit C hereto. 

Notwithstanding anything to the contrary in this Commitment Letter (including each of the exhibits attached hereto), the Fee Letter, the
Bridge Facility Documentation or any other letter agreement or other undertaking concerning the financing of the Transactions to the contrary, (i) the only representations and warranties the making of which shall be a condition to the
availability of the Bridge Facility on the Closing Date shall be (A) such of the representations and warranties made by or with respect to the Company, its subsidiaries and their respective businesses in the Acquisition Agreement as are
material to the interests of the Initial Lenders, but only to the extent that you (or one of your affiliates) have the right (taking into account any applicable cure provisions) to terminate your (or its) obligations under the Acquisition Agreement
(or otherwise decline to consummate the Acquisition without any liability) as a result of a breach of such representations and warranties in the Acquisition Agreement (to such extent, the “Company Representations”) and
(B) the Specified Representations (as defined below) 

  
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and (ii) the terms of the Bridge Facility Documentation shall be in a form such that they do not impair the availability of the Bridge Facility on the Closing Date if the conditions set
forth in the section entitled “Conditions to Borrowing” in Exhibit B hereto and in Exhibit C hereto are satisfied (or waived by the Commitment Parties) For purposes hereof, “Specified Representations” means the
representations and warranties made by the Borrower and WMIH to be set forth in the Bridge Facility Documentation relating to the corporate or other organizational existence of the Borrower and WMIH, power and authority, due authorization,
execution, delivery and enforceability, in each case related to the borrowing under, guaranteeing under, and performance of, the Bridge Facility Documentation; the incurrence of the loans and the provision of the Guarantees, in each case under the
Bridge Facility, not conflicting with the Borrower’s and WMIH’s constitutional documents (after giving effect to the Acquisition); solvency as of the Closing Date (after giving effect to the Transactions) of the Borrower and its restricted
subsidiaries on a consolidated basis (solvency to be defined in a manner consistent with the manner in which solvency is defined in the solvency certificate to be delivered pursuant to paragraph 9 of Exhibit C); Federal Reserve margin regulations;
the use of loan proceeds not violating OFAC, FCPA, other anti-terrorism laws and the PATRIOT Act; and the Investment Company Act. This paragraph, and the provisions herein, shall be referred to as the “Funding Conditions
Provisions”. Without limiting the conditions precedent provided herein to funding the consummation of the Acquisition with the proceeds of the Bridge Facility, the Lead Arrangers will cooperate with you as reasonably requested in
coordinating the timing and procedures for the funding of the Bridge Facility in a manner consistent with the Acquisition Agreement. 
 You
agree (a) to indemnify and hold harmless each of the Commitment Parties, their respective affiliates and the respective officers, directors, employees, agents, controlling persons, members, advisors and the successors of each of the foregoing
(each, an “Indemnified Person”) from and against any and all losses, claims, damages and liabilities of any kind or nature, joint or several, to which any such Indemnified Person may become subject, to the extent arising out
of or in connection with any claim, litigation, investigation or proceeding, actual or threatened, relating to this Commitment Letter (including the Term Sheet), the Fee Letter, the Transactions, the Bridge Facility or any related transaction
contemplated hereby (any of the foregoing, a “Proceeding”), regardless of whether any such Indemnified Person is a party thereto and whether such Proceeding is brought by you or any other person, and to reimburse each such
Indemnified Person promptly upon written demand for any reasonable and documented out-of-pocket legal fees and expenses incurred in connection with investigating or
defending any of the foregoing by one firm of counsel for all Indemnified Persons, taken as a whole, and, if necessary, by a single firm of local counsel in each appropriate jurisdiction (which may, in the Indemnified Person’s sole discretion,
include a single firm of special counsel acting in multiple jurisdictions) for all such Indemnified Persons, taken as a whole (and, in the case of an actual or perceived conflict of interest where the Indemnified Person affected by such conflict
notifies you of the existence of such conflict and thereafter, after receipt of your written consent (which consent shall not be unreasonably withheld or delayed), retains its own counsel, by another firm of counsel for such affected Indemnified
Person) or other reasonable and documented out-of-pocket fees and expenses incurred in connection with investigating or defending any of the foregoing; provided
that the foregoing indemnity will not, as to any Indemnified Person, apply to losses, claims, damages, liabilities or related expenses to the extent that they have resulted from (i) the willful misconduct, bad faith or gross negligence of
such Indemnified Person or any of such Indemnified Person’s affiliates or any of its or their respective officers, directors, employees, agents, controlling persons, members, advisors or the successors of any of the foregoing (as determined by
a court of competent jurisdiction in a final and non-appealable decision), (ii) a material breach of the obligations of such Indemnified Person (or any of such Indemnified Person’s affiliates or any of
its or their respective officers, directors, employees, agents, controlling persons, members, advisors or the successors of any of the foregoing) under this Commitment Letter, the Fee Letter or the Bridge Facility Documentation (as determined by a
court of competent jurisdiction in a final and non-appealable decision), (iii) in the case of a Proceeding initiated by you or one of your permitted assignees against the relevant Indemnified Person, a breach
of the obligations of such Indemnified Person or any of such 

  
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Indemnified Person’s affiliates or of any of its or their respective officers, directors, employees, agents, advisors or other representatives of any of the foregoing under this Commitment
Letter, the Fee Letter or the Bridge Facility Documentation (as determined by a court of competent jurisdiction in a final and non-appealable decision) or (iv) any Proceeding not arising from any act or
omission by you or any of your affiliates that is brought by an Indemnified Person against any other Indemnified Person (other than disputes involving claims against any Lead Arranger or the Administrative Agent in its capacity as such), and
(b) to reimburse each Commitment Party and each Indemnified Person from time to time, promptly upon written demand and presentation of a summary statement, for all reasonable and documented out-of-pocket expenses (including but not limited to expenses of each Commitment Party’s due diligence investigation, consultants’ fees (to the extent any such consultant has been retained with your
prior written consent (such consent not to be unreasonably withheld or delayed)), syndication expenses, travel expenses and reasonable fees, disbursements and other charges of counsel to the Lead Arrangers identified in the Term Sheet and of a
single firm of local counsel to the Lead Arrangers in each appropriate jurisdiction (other than any allocated costs of in-house counsel) or otherwise retained with your consent (such consent not to be
unreasonably withheld or delayed)), in each case incurred in connection with the Bridge Facility and the preparation of this Commitment Letter, the Fee Letter and the Bridge Facility Documentation (collectively, the
“Expenses”); provided that except as set forth in the Fee Letter, you shall not be required to reimburse any of the Expenses in the event the Closing Date does not occur. 

Notwithstanding any other provision of this Commitment Letter, (i) no Indemnified Person shall be liable for any damages arising from the
use by others of information or other materials obtained through internet, electronic, telecommunications or other information transmission systems (including IntraLinks or SyndTrak Online), except to the extent that such damages have resulted from
the willful misconduct, bad faith or gross negligence of such Indemnified Person or any of such Indemnified Person’s affiliates or any of its or their officers, directors, employees, agents, controlling persons, members or the successors of any
of the foregoing (as determined by a court of competent jurisdiction in a final and non-appealable decision) and (ii) none of we, you, the Company, the Sponsor (or any of their respective affiliates), any
subsidiaries of the foregoing or any Indemnified Person shall be liable for any indirect, special, punitive or consequential damages (including, without limitation, any loss of profits, business or anticipated savings) in connection with this
Commitment Letter, the Fee Letter, the Transactions (including the Bridge Facility and the use of proceeds thereunder), or with respect to any activities related to the Bridge Facility, including the preparation of this Commitment Letter, the Fee
Letter and the Bridge Facility Documentation; provided that nothing in this paragraph shall limit your indemnity and reimbursement obligations to the extent that such indirect, special, punitive or consequential damages are included in any
claim by a third party unaffiliated with any of the Commitment Parties with respect to which the applicable Indemnified Person is entitled to indemnification under the preceding paragraph. 

You shall not be liable for any settlement of any Proceeding effected without your written consent (which consent shall not be unreasonably
withheld or delayed), but if settled with your written consent or if there is a final and non-appealable judgment by a court of competent jurisdiction in any such Proceeding, you agree to indemnify and hold
harmless each Indemnified Person from and against any and all losses, claims, damages, liabilities and reasonable and documented legal or other out-of-pocket expenses by
reason of such settlement or judgment in accordance with and to the extent provided in the other provisions herein. 
 You shall not,
without the prior written consent of any Indemnified Person (which consent shall not be unreasonably withheld or delayed), effect any settlement of any pending or threatened proceedings in respect of which indemnity could have been sought hereunder
by such Indemnified Person unless such settlement (i) includes an unconditional release of such Indemnified Person in form and substance 

  
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reasonably satisfactory to such Indemnified Person from all liability or claims that are the subject matter of such proceedings and (ii) does not include any statement as to or any admission
of fault, culpability, wrong doing or a failure to act by or on behalf of any Indemnified Person. 
 You acknowledge that the Commitment
Parties and their affiliates may be providing debt financing, equity capital or other services (including financial advisory services) to other persons in respect of which you may have conflicting interests regarding the transactions described
herein and otherwise. Neither the Commitment Parties nor any of their affiliates will use confidential information obtained from you or the Company by virtue of the transactions contemplated by this Commitment Letter or their other relationships
with you in connection with the performance by them of services for other persons, and neither the Commitment Parties nor any of their affiliates will furnish any such information to other persons (other than as permitted pursuant to the provisions
hereof). You also acknowledge that neither the Commitment Parties nor any of their affiliates have any obligation to use in connection with the transactions contemplated by this Commitment Letter, or to furnish to you, confidential information
obtained by them from other persons. 
 As you know, each Commitment Party and its respective affiliates is a full service securities firm
engaged, either directly or through its affiliates, in various activities, including securities trading, commodities trading, investment management, financing and brokerage activities and financial planning and benefits counseling for both companies
and individuals. In the ordinary course of these activities, the Commitment Parties and their respective affiliates may actively engage in commodities trading or trade the debt and equity securities (or related derivative securities) and financial
instruments (including bank loans and other obligations) of you, the Company, any of your or their respective subsidiaries and affiliates and other companies which may be the subject of the arrangements contemplated by this letter for their own
account and for the accounts of their customers and may at any time hold long and short positions in such securities. The Commitment Parties and their respective affiliates may also co-invest with, make direct
investments in, and invest or co-invest client monies in or with funds or other investment vehicles managed by other parties, and such funds or other investment vehicles may trade or make investments in
securities of you, the Company, any of your or their respective subsidiaries and affiliates or other companies which may be the subject of the arrangements contemplated by this Commitment Letter or engage in commodities trading with any thereof.

 The Commitment Parties and their respective affiliates may have economic interests that conflict with those of the Company and you. You
agree that the Commitment Parties will act under this letter as independent contractors and that nothing in this Commitment Letter or the Fee Letter or otherwise will be deemed to create an advisory, fiduciary or agency relationship or fiduciary or
other implied duty between the Commitment Parties and you and the Company, your and its respective shareholders or your and its respective affiliates. You acknowledge and agree that (i) the transactions contemplated by this Commitment Letter
and the Fee Letter are arm’s-length commercial transactions between the Commitment Parties, on the one hand, and you and the Company, on the other, (ii) in connection therewith and with the process
leading to such transaction each Commitment Party is acting solely as a principal and not as agents or fiduciaries of you, the Company, your and its management, shareholders, creditors or any other person, (iii) the Commitment Parties have not
assumed an advisory or fiduciary responsibility or any other obligation in favor of you with respect to the transactions contemplated hereby or the process leading thereto (irrespective of whether the Commitment Parties or any of their respective
affiliates have advised or are currently advising you or the Company on other matters) except the obligations expressly set forth in this Commitment Letter and the Fee Letter and (iv) you have consulted your own legal, tax, accounting and
financial advisors to the extent you deemed appropriate. You further acknowledge and agree that you are responsible for making your own independent judgment with respect to such transactions and the process leading thereto. Please note that the
Commitment Parties and their affiliates have not provided any legal, accounting, regulatory or tax advice. You agree that you will not 

  
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claim that the Commitment Parties (in their capacity as such) or their applicable affiliates, as the case may be, have rendered advisory services of any nature or respect, or owe a fiduciary or
similar duty to you or your affiliates, in connection with the transactions contemplated by this Commitment Letter or the process leading thereto. 

This Commitment Letter and any claim, controversy or dispute arising under or related to this Commitment Letter and the commitments hereunder
shall not be assignable by any party hereto without the prior written consent of each other party hereto (such consent not to be unreasonably withheld or delayed) (and any attempted assignment without such consent shall be null and void). This
Commitment Letter and the commitments hereunder are intended to be solely for the benefit of the parties hereto (and Indemnified Persons) and are not intended to confer any benefits upon, or create any rights in favor of, any person other than the
parties hereto (and Indemnified Persons to the extent expressly set forth herein). Subject to the limitations otherwise set forth herein, each Commitment Party reserves the right to employ the services of its respective affiliates or branches in
providing services contemplated hereby and to allocate, in whole or in part, to their affiliates or branches certain fees payable to such Commitment Party in such manner as such Commitment Party and its respective affiliates or branches may agree in
their sole discretion and, to the extent so employed, such affiliates and branches shall be entitled to the benefits and protections afforded to, and subject to the provisions governing the conduct of, such Commitment Party hereunder. This
Commitment Letter may not be amended or any provision hereof waived or modified except by an instrument in writing signed by each of the Commitment Parties and you. This Commitment Letter may be executed in any number of counterparts, each of which
shall be an original and all of which, when taken together, shall constitute one agreement. Delivery of an executed counterpart of a signature page of this Commitment Letter by facsimile transmission or other electronic transmission (i.e., a
“pdf” or “tif”) shall be effective as delivery of a manually executed counterpart hereof. This Commitment Letter (including the exhibits hereto) and the Fee Letter (i) are the only agreements that have been entered into
among the parties hereto with respect to the Bridge Facility and (ii) supersede all prior understandings, whether written or oral, among us with respect to the Bridge Facility and set forth the entire understanding of the parties hereto with
respect thereto. 
 Each of the parties hereto agrees that (i) this Commitment Letter is a binding and enforceable agreement (subject
to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization and other similar laws relating to or affecting creditors’ rights generally and general principles of equity (whether considered in a proceeding in equity or law))
with respect to the subject matter contained herein, including an agreement to negotiate in good faith the Bridge Facility Documentation by the parties hereto in a manner consistent with this Commitment Letter, it being acknowledged and agreed that
the funding of the Bridge Facility is subject only to the conditions precedent as provided herein and (ii) the Fee Letter is a binding and enforceable agreement (subject to the effects of bankruptcy, insolvency, fraudulent conveyance,
reorganization and other similar laws relating to or affecting creditors’ rights generally and general principles of equity (whether considered in a proceeding in equity or law)) of the parties thereto with respect to the subject matter set
forth therein. 
 THIS COMMITMENT LETTER AND THE RIGHTS AND DUTIES OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK; provided, however, that it is understood and agreed that (a) the interpretation of the definition of “Company Material Adverse Effect” (as referenced in Exhibit C
hereto) (and whether or not such Company Material Adverse Effect has occurred), (b) the determination of the accuracy of any Company Representations and whether as a result of any inaccuracy thereof you (or your affiliates) has the right (taking
into account any applicable cure provisions) to terminate your (or your affiliates’) obligations under the Acquisition Agreement or decline to consummate the Acquisition and (c) the determination of whether the Acquisition has been
consummated in accordance with the terms of the Acquisition Agreement, in each case shall be governed by, and construed in accordance with, the laws of Delaware, regardless of the laws that might otherwise govern under applicable principles of
conflicts of laws thereof. 

  
 [Commitment Letter]

  
 9 

 EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES THE RIGHT TO TRIAL BY JURY IN ANY ACTION,
PROCEEDING, CLAIM OR COUNTERCLAIM BROUGHT BY OR ON BEHALF OF ANY PARTY HERETO RELATED TO OR ARISING OUT OF THIS COMMITMENT LETTER OR THE PERFORMANCE OF SERVICES HEREUNDER. 

Each of the parties hereto hereby irrevocably and unconditionally (a) submits, for itself and its property, to the exclusive jurisdiction
of any New York State court or Federal court of the United States of America sitting in New York City in the Borough of Manhattan, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Commitment
Letter, the Fee Letter, the Transactions or the transactions contemplated hereby, or for recognition or enforcement of any judgment, and agrees that all claims in respect of any such action or proceeding shall be heard and determined in such New
York State court or, to the extent permitted by law, in such Federal court, (b) waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or
proceeding arising out of or relating to this Commitment Letter, the Fee Letter, the Transactions or the transactions contemplated hereby in any such New York State court or in any such Federal court, (c) waives, to the fullest extent permitted
by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court and (d) agrees that a final judgment in any such suit, action or proceeding shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by law. Each of the parties hereto agrees to commence any such action, suit, proceeding or claim either in the United States District Court for the Southern District of New York
or in the Supreme Court of the State of New York, New York County located in the Borough of Manhattan. 
 This Commitment Letter is
delivered to you on the understanding that none of the Fee Letter and its terms or substance, or, prior to your acceptance hereof, this Commitment Letter and its terms or substance or the activities of any Commitment Party pursuant hereto or to the
Fee Letter, shall be disclosed, directly or indirectly, to any other person or entity (including other lenders, underwriters, placement agents, advisors or any similar persons) except (a) to the Sponsor, the equityholders of Buyer pro forma for
the Acquisition and to your and any of the Sponsor’s subsidiaries and affiliates and your and their respective officers, directors, employees, agents, attorneys, accountants, advisors and controlling persons who are informed of the confidential
nature thereof, on a confidential and need-to-know basis, (b) if the Commitment Parties consent to such proposed disclosure (such consent not to be unreasonably
withheld or delayed) or (c) pursuant to the order of any court or administrative agency in any pending legal or administrative proceeding, or otherwise as required by applicable law, rule or regulation or compulsory legal process or to the
extent requested or required by governmental and/or regulatory authorities, in each case based on the reasonable advice of your legal counsel (in which case, you agree, to the extent practicable and not prohibited by applicable law, rule or
regulation, to inform us promptly thereof); provided that (i) you may disclose this Commitment Letter (but not the Fee Letter) and the contents hereof to the Company and its officers, directors, employees, agents, attorneys, accountants,
advisors and controlling persons, on a confidential and need-to-know basis, (ii) you may disclose the Commitment Letter and its contents in any offering memoranda
or private placement memoranda relating to the Notes, in any syndication or other marketing materials in connection with the Bridge Facility (including any Confidential Information Memorandum and other customary marketing materials) or in connection
with any public or regulatory filing requirement relating to the Transactions, (iii) you may disclose the Term Sheet and the other exhibits and annexes to the Commitment Letter and the contents thereof, to potential Lenders and their affiliates
involved in the related commitments, to equity investors and to rating agencies in connection with obtaining ratings for WMIH and the Bridge Facility, (iv) you may disclose the aggregate fees contained in the Fee Letter as part of pro forma
information or a generic 

  
 [Commitment Letter]

  
 10 

 
disclosure of aggregate sources and uses related to fee amounts related to the Transactions to the extent customary or required in offering and marketing materials for the Bridge Facility and/or
the Notes (or the issuance of any “demand securities” issued in lieu of the Notes or other indebtedness issued in lieu of the Notes that has otherwise been consented to by the Majority Lead Arrangers (such consent not to be unreasonably
withheld or delayed)) or in any public or regulatory filing requirement relating to the Transactions, (v) to the extent the amounts of fees and other economic terms of the market flex provisions set forth therein have been redacted in a
customary manner, you may disclose the Fee Letter and the contents thereof to the Company and its officers, directors, employees, agents, attorneys, accountants, advisors and controlling persons, on a confidential and
need-to-know basis, (vi) you may disclose this Commitment Letter (but not the Fee Letter) in any tender offer or proxy relating to the Transactions and
(vii) you may disclose the Fee Letter and the contents thereof to any prospective Additional Commitment Party or prospective equity investor and their respective officers, directors, employees, attorneys, accountants and advisors, in each case
on a confidential basis. You agree that you will permit us to review and approve (such approval not to be unreasonably withheld or delayed) any reference to us or any of our affiliates in connection with the Bridge Facility or the transactions
contemplated hereby contained in any press release or similar written public disclosure prior to public release. The confidentiality provisions set forth in this paragraph shall survive the termination of this Commitment Letter and expire and shall
be of no further effect after the second anniversary of the date hereof. 
 Each Commitment Party and its affiliates will use all non-public information provided to any of them or such affiliates by or on behalf of you hereunder or in connection with the Transactions solely for the purpose of providing the services which are the subject of
this Commitment Letter and negotiating, evaluating and consummating the transactions contemplated hereby and shall treat confidentially all such information and shall not publish, disclose or otherwise divulge such information; provided that
nothing herein shall prevent such Commitment Party and its affiliates from disclosing any such information (a) pursuant to the order of any court or administrative agency or in any pending legal, judicial or administrative proceeding, or
otherwise as required by applicable law, rule or regulation or compulsory legal process (in which case such Commitment Party agrees (except with respect to any routine or ordinary course audit or examination conducted by bank accountants or any
governmental, bank regulatory or self-regulatory authority exercising examination or regulatory authority (including any self-regulatory authority)), to the extent practicable and not prohibited by applicable law, rule or regulation, to inform you
promptly thereof prior to disclosure), (b) upon the request or demand of any regulatory authority (including any self-regulatory authority) having jurisdiction over such Commitment Party or any of its affiliates (in which case such Commitment Party
agrees (except with respect to any routine or ordinary course audit or examination conducted by bank accountants or any governmental, bank regulatory or self-regulatory authority exercising examination or regulatory authority) to the extent
practicable and not prohibited by applicable law, rule or regulation, to inform you promptly thereof prior to disclosure), (c) to the extent that such information becomes publicly available other than by reason of improper disclosure by such
Commitment Party or any of its affiliates or any of their respective officers, directors, employees, agents, controlling persons and members thereto in violation of any confidentiality obligations owing to you, the Sponsor, the Company or any of
your or their respective subsidiaries or affiliates or any of their respective officers, directors, employees, agents, controlling persons and members (including those set forth in this paragraph), (d) to the extent that such information is received
by such Commitment Party from a third party that is not, to such Commitment Party’s knowledge, subject to confidentiality obligations owing to you, the Sponsor, the Company or any of your or their respective subsidiaries or affiliates or
related parties, (e) to the extent that such information was already in our possession prior to any duty or other undertaking of confidentiality or is independently developed by the Commitment Parties without the use of such information,
(f) to other Commitment Parties and such Commitment Party’s affiliates and to its and their respective officers, directors, partners, employees, legal counsel, independent auditors and other experts or agents who need to know such
information in connection with the Transactions and who are informed of the confidential nature of such information and 

  
 [Commitment Letter]

  
 11 

 
who are subject to customary confidentiality obligations of professional practice or who agree to be bound by the terms of this paragraph (or language substantially similar to this paragraph)
(with each such Commitment Party, to the extent within its control, responsible for such person’s compliance with this paragraph), (g) to potential or prospective Lenders, hedge providers, participants or assignees, in each case who agree
(pursuant to customary syndication practice) to be bound by the terms of this paragraph (or language substantially similar to this paragraph); provided that (i) the disclosure of any such information to any Lenders, hedge providers or
prospective Lenders, hedge providers or participants or prospective participants referred to above shall be made subject to the acknowledgment and acceptance by such Lender, hedge provider or prospective Lender or participant or prospective
participant that such information is being disseminated on a confidential basis (on substantially the terms set forth in this paragraph or as is otherwise reasonably acceptable to you and each Commitment Party, including, without limitation, as
agreed in any information materials or other marketing materials) in accordance with the standard syndication processes of such Commitment Party or customary market standards for dissemination of such type of information, which shall in any event
require “click through” or other affirmative actions on the part of recipient to access such information and (ii) no such disclosure shall be made by such Commitment Party to any person that is at such time a Disqualified Lender,
(h) for purposes of establishing a “due diligence” defense or (i) to rating agencies in connection with obtaining ratings for WMIH, the Bridge Facility and the Notes. In addition, each Commitment Party may disclose the existence
of the Bridge Facility to market data collectors, similar service providers to the lending industry and service providers to the Commitment Parties in connection with the administration and management of the Bridge Facility. In the event that the
Bridge Facility is funded, the Commitment Parties’ and their respective affiliates’, if any, obligations under this paragraph, shall terminate automatically and be superseded by the confidentiality provisions in the Bridge Facility
Documentation upon the initial funding thereunder to the extent that such provisions are binding on such Commitment Parties. Otherwise, the confidentiality provisions set forth in this paragraph shall survive the termination of this Commitment
Letter and expire and shall be of no further effect after the second anniversary of the date hereof. 
 The syndication, information,
reimbursement (if applicable), compensation (if applicable in accordance with the terms hereof and the Fee Letter), indemnification, confidentiality, jurisdiction, governing law, absence of fiduciary relationship and waiver of jury trial provisions
contained herein and in the Fee Letter shall remain in full force and effect regardless of whether the Bridge Facility Documentation shall be executed and delivered and notwithstanding the termination of this Commitment Letter or the Commitment
Parties’ commitments hereunder; provided that your obligations under this Commitment Letter, other than those relating to confidentiality, information and to the syndication of the Bridge Facility, shall automatically terminate and be
superseded by the corresponding provisions of the Bridge Facility Documentation upon the initial funding thereunder, and you shall be automatically released from all liability in connection therewith at such time. You may terminate this Commitment
Letter and/or the Initial Lenders’ commitments (on a pro rata basis amongst the Initial Lenders) with respect to the Bridge Facility (or a tranche thereof as selected by you) hereunder at any time subject to the provisions of the preceding
sentence. 
 We hereby notify you that pursuant to the requirements of the USA PATRIOT Act, Title III of Pub. L. 107-56 (signed into law October 26, 2001, as amended from time to time, the “PATRIOT Act”), each of us and each of the Lenders may be required to obtain, verify and record information
that identifies the Borrower and the Guarantors, which information may include their names, addresses, tax identification numbers and other information that will allow each of us and the Lenders to identify the Borrower and Guarantors in accordance
with the PATRIOT Act. This notice is given in accordance with the requirements of the PATRIOT Act and is effective as to each of us and each Lender. 

  
 [Commitment Letter]

  
 12 

 If the foregoing correctly sets forth our agreement, please indicate your acceptance of the terms
of this Commitment Letter and of the Fee Letter by returning to the Administrative Agent on behalf of the Commitment Parties executed counterparts hereof and of the Fee Letter not later than 11:59 p.m., New York City time, on February 13, 2018.
The Initial Lenders’ respective commitments hereunder and the obligations and agreements of the Commitment Parties contained herein will expire at such time in the event that the Lead Arrangers have not received such executed counterparts in
accordance with the immediately preceding sentence. If you do so execute and deliver to us this Commitment Letter and the Fee Letter, this Commitment Letter and the commitments and undertakings of each of the Commitment Parties shall remain
effective and available for you until the earliest to occur of (i) after execution of the Acquisition Agreement and prior to the consummation of the Acquisition, the termination of the Acquisition Agreement by you (or your affiliates) in
writing or with your (or your affiliates’) written consent or otherwise in accordance with its terms (other than with respect to provisions therein that expressly survive termination), prior to closing of the Acquisition, (ii) the
consummation of the Acquisition with or without the funding of the Bridge Facility and (iii) 11:59 p.m., New York City time, on the date that is five business days after the End Date (as defined in the Acquisition Agreement (as in effect on the
date hereof) and as may be extended therein) (such date, the “Commitment Termination Date”). Upon the occurrence of any of the events referred to in the preceding sentence, this Commitment Letter and the commitments of the
Commitment Parties hereunder and the agreement of the Commitment Parties to provide the services described herein shall automatically terminate unless each of the Commitment Parties shall, in its sole discretion, agree to an extension;
provided, that the termination of the commitments does not prejudice your rights and remedies in respect of any breach of this Commitment Letter. 

[Remainder of this page intentionally left blank] 

  
 [Commitment Letter]

  
 13 

 The Commitment Parties are pleased to have been given the opportunity to assist you in connection
with the financing for the Acquisition. 
  

			
	Very truly yours,
	
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH
		
	By:    	 	/s/ William O’Daly
		 	Name: William O’Daly
		 	Title: Authorized Signatory

  

			
		
	By:    	 	/s/ Andrew Maletta
		 	Name: Andrew Maletta
		 	Title: Authorized Signatory

  

			
	CREDIT SUISSE SECURITIES (USA) LLC
		
	By:    	 	/s/ Mark Filipski
		 	Name: Mark Filipski
		 	Title: Managing Director

  
 [Commitment Letter]

  

 
			
	JEFFERIES FINANCE LLC
		
	 By:    
	 	 /s/ E. J. Hess

		 	Name: E. J. Hess
		 	Title: Managing Director

  
 [Commitment Letter]

  

 
			
	DEUTSCHE BANK AG CAYMAN ISLANDS BRANCH
		
	By:    	 	/s/ Ian Dorrington
		 	Name: Ian Dorrington
		 	Title: Managing Director

  

			
		
	By:    	 	/s/ Christopher Blum
		 	Name: Christopher Blum
		 	Title: Managing Director

  

			
	DEUTSCHE BANK SECURITIES INC.
		
	By:    	 	/s/ Ian Dorrington
		 	Name: Ian Dorrington
		 	Title: Managing Director

  

			
		
	By:    	 	/s/ Christopher Blum
		 	Name: Christopher Blum
		 	Title: Managing Director

  
 [Commitment Letter]

  

 
			
	HSBC BANK USA, NATIONAL ASSOCIATION
		
	By:    	 	/s/ Richard Jackson
		 	Name: Richard Jackson
		 	Title: Managing Director

  

			
	HSBC SECURITIES (USA) INC.
		
	By:    	 	/s/ Richard Jackson
		 	Name: Richard Jackson
		 	Title: Managing Director

  
 [Commitment Letter]

  

 Accepted and agreed to as of 

the date first above written: 
  

			
	WAND MERGER CORPORATION
		
	By:    	 	/s/ Charles E. Smith
		 	Name: Charles E. Smith
		 	Title: President

  
 [Commitment Letter]

  

			
	CONFIDENTIAL	  	EXHIBIT A

 Project Eclipse 

Transaction Description 

Capitalized terms used but not defined in this Exhibit A shall have the meanings set forth in the other Exhibits to the Commitment Letter
to which this Exhibit A is attached (the “Commitment Letter”) or in the Commitment Letter. 
 Wand Merger
Corporation (“Buyer”), a newly formed shell entity which is an affiliate of WMIH Corp. (“WMIH”), intends to acquire, directly or indirectly, all of the outstanding equity interests of the entity
previously identified to us by you as “Eclipse” (the “Company”) from the equity holders of the Company. 

In connection with the foregoing, it is intended that: 
  

	a)	Pursuant to the Agreement and Plan of Merger, by and among the Company, the Buyer and the other parties referenced therein, dated as of the date hereof (together with all exhibits, annexes, schedules and disclosure
letters thereto, collectively, as modified, amended, supplemented or waived, the “Acquisition Agreement”), Buyer will be merged with and into the Company, with the Company surviving such merger, in all material respects in
accordance with the terms thereof (the “Acquisition”). After giving effect to the Acquisition, the Company shall become a direct or indirect wholly-owned subsidiary of WMIH. 

 

	b)	The sum of (1) the product of (i) the number of outstanding common equity shares issued by WMIH prior to giving effect to the Acquisition, (ii) the exchange ratio for such shares set forth in the
Acquisition Agreement and (iii) the value of such common equity interests (it being understood and agreed that the value of each such share shall be deemed to be the price set forth in the Acquisition Agreement regardless of the actual trading
price of such share) and (2) the value of the common equity interests in WMIH issued to the equityholders of the Company (it being understood and agreed that the aggregate value pursuant to this clause (2) shall be as set forth in the
Acquisition Agreement) (clauses (1) and (2) collectively, the “Equity Contribution”) shall be at least 30% (the “Minimum Equity Contribution”) of the sum of (1) the aggregate gross proceeds
of the Bridge Facility borrowed on the Closing Date (or Senior Unsecured Notes issued in lieu thereof) and (2) the equity capitalization of WMIH and its subsidiaries on the Closing Date after giving effect to the Transactions; provided
that WMIH shall use cash on its balance sheet of at least $550.0 million in connection with the Transactions. To the extent that WMIH issues equity on or prior to the Closing Date (excluding for the avoidance of doubt the existing Class A
preferred shares of WMIH or any successor thereto), other than common equity, such issuance shall be on the terms and conditions reasonably satisfactory to the Majority Lead Arrangers. 

 

	c)	The Borrower will either issue the full $2,750 million amount of the Senior Unsecured Notes and/or borrow up to the unissued amount of the contemplated $2,750 million issuance in an aggregate principal amount
of Bridge Loans, in each case on the Closing Date of the Acquisition. 

  

	d)	It is understood that all obligations with respect to (i) 6.500% Senior Notes due 2018 (the “2018 Notes”), co-issued by Nationstar Mortgage LLC and
Nationstar Capital Corporation (collectively, the “Issuers”), under the indenture, dated as of July 22, 2013 (as amended and supplemented, the “2018 Notes Indenture”), by and among the Issuers,
the guarantors party thereto and Wells Fargo Bank, National Association, as trustee (the “Trustee”), (ii) 9.625% Senior Notes due 2019 (the “2019 Notes”),
co-issued by the Issuers, under the indenture, dated as of April 25, 2012 (as amended and supplemented, the “2019 Notes Indenture”), by and among the Issuers, the guarantors party
thereto and the Trustee, (iii) 7.875% Senior Notes due 2020 (the “2020 Notes”), co-issued by the Issuers, under the indenture, dated as of September 24, 2012 (as amended and
supplemented, the “2020 Notes  

  
 [Transaction Description]

	 	
Indenture”), by and among the Issuers, the guarantors party thereto and the Trustee, (iv) 6.500% Senior Notes Due 2021 (the “2021 Notes”), co-issued by the Issuers, under the indenture, dated as of February 7, 2013 (as amended and supplemented, the “2021 Notes Indenture”), by and among the Issuers, the guarantors party
thereto and the Trustee and (v) 6.500% Senior Notes due 2022 (together with the 2018 Notes, the 2019 Notes, the 2020 Notes and the 2021 Notes, the “Notes”), co-issued by the Issuers,
under the indenture, dated as of May 31, 2013 (as amended and supplemented, and, together with the 2018 Notes Indenture, the 2019 Notes Indenture, the 2020 Notes Indenture and the 2021 Notes Indenture, the “Indentures”),
by and among the Issuers, the guarantors party thereto and the Trustee, will be redeemed, repurchased, repaid, discharged or defeased (or notices for the redemption thereof will be given to the extent accompanied by any prepayments or deposits
required to defease, satisfy and discharge in full the obligations under each such Indenture or related Notes) in accordance with each Indenture. The transactions described in this clause (e) are collectively referred to herein as the
“Refinancing”. 

 The transactions described above and the payment of related fees and expenses are
collectively referred to herein as the “Transactions”. 

  
 [Transaction Description]

 EXHIBIT B 

Project Eclipse 

$2,750 million Senior Unsecured Increasing Rate Bridge Loans 

Summary of Principal Terms and Conditions 

All capitalized terms used but not defined herein shall have the meanings given to them in the Commitment Letter to which this term sheet is
attached, including Exhibit A thereto. 
  

			
	Borrower:	  	Initially, Wand Merger Corporation and after giving effect to the Acquisition, the Company (the “Borrower”).
		
	Transactions:	  	As set forth in Exhibit A to the Commitment Letter.
		
	Administrative Agent:	  	Credit Suisse AG or an affiliate thereof will act as the sole and exclusive administrative agent (in such capacity, the “Administrative Agent”) for a syndicate of banks, financial institutions and other
institutional lenders and investors reasonably acceptable to the Lead Arrangers (as defined below) and the Borrower, excluding any Disqualified Lender (together with the Initial Lenders, the “Lenders”), and will perform the
duties customarily associated with such role.
		
	Lead Arrangers:	  	Credit Suisse Securities (USA) LLC (“CS Securities”), Jefferies Finance LLC (“Jefferies”), Deutsche Bank Securities Inc. (“DBSI”) and HSBC Securities (USA) Inc.
(“HSBC Securities”) will each act as a lead arranger and bookrunner (together with any additional joint bookrunner appointed pursuant to the Commitment Letter, each in such capacity, a “Lead Arranger”)
and will perform the duties customarily associated with such roles.
		
	Syndication Agent, Documentation Agent or Co-Documentation Agents:	  	The Borrower may designate additional financial institutions reasonably acceptable to the Majority Lead Arrangers (such consent not to be unreasonably withheld, delayed or conditioned) to act as syndication agent, documentation
agent or co-documentation agent as provided in the Commitment Letter.
		
	Senior Unsecured Bridge Loans:	  	The Lenders will make senior unsecured increasing rate loans (the “Bridge Loans”) to the Borrower (at the Borrower’s option, but without limiting the “Securities Demand” provision of the Fee
Letter) on the Closing Date in an aggregate principal amount of up to $2,750 million (it being understood and agreed that (i) $1,000 million of such Bridge Loans shall be tranched as “Tranche A Bridge Loans”, (ii)
$1,000 million of such Bridge Loans shall be tranched as “Tranche B Bridge Loans” and (iii) $750 million of such Bridge Loans shall be tranched as “Tranche C Bridge Loans”) plus,
at the Borrower’s election, an amount sufficient to fund any original issue discount (“OID”) or upfront fees required to be funded on the Closing Date in connection with the issuance of the Notes or any other Securities
(as defined in the Fee Letter) on the Closing Date (which amounts shall be automatically added to the Commitment Parties’ commitments under the Commitment Letter) minus, with respect to each tranche of Bridge Loans, the amount of gross proceeds
from the applicable tranches of Notes on or prior to the Closing Date. Notwithstanding anything herein to the contrary, the Borrower may reallocate all or any portion of the Tranche C Bridge Loans to either the Tranche A Bridge Loans and/or the
Tranche B Bridge Loans as it may select at any time prior to the Closing Date.

  
 [Bridge Facility]

  
 B-1 

			
		
	Availability:	  	The Lenders will make the Bridge Loans on the Closing Date simultaneously with the consummation of the Acquisition. Amounts borrowed under the Bridge Facility that are repaid or prepaid may not be reborrowed.
		
	Uses of Proceeds:	  	The proceeds of the Bridge Loans will be used by the Borrower on the Closing Date, together with the proceeds from the issuance of the Notes and cash on hand at WMIH, the Borrower and the Company, to consummate the
Transactions.
		
	Ranking:	  	The Bridge Loans will rank equal in right of payment with any other senior indebtedness of the Borrower and will not be secured.
		
	Guarantees:	  	 All obligations of the Borrower (the “Obligations”) under the Bridge Facility (the “Bridge
Obligations”) will be unconditionally guaranteed jointly and severally on an equal priority senior unsecured basis (the “Guarantees”) by WMIH and each existing and subsequently acquired or organized direct or
indirect wholly-owned U.S. restricted subsidiary of WMIH (other than any such subsidiary (a) that is a subsidiary of a non-U.S. subsidiary of WMIH that is a “controlled foreign corporation”
within the meaning of Section 957 of the Code (a “CFC”), (b) that is a U.S. subsidiary substantially all of the assets of which consist of the equity and/or debt or receivables of one or more direct or indirect non-U.S. subsidiaries that are CFCs (a “CFC Holdco”), (c) that has been designated as an unrestricted subsidiary, (d) that is below a materiality threshold (based on assets or revenues)
to be agreed consistent with the Bridge/Bond Documentation Principles, (e) that is not permitted by law, regulation or contract (including any contract relating to debt for borrowed money) (to the extent existing on the Closing Date or, if
later, the date it becomes a restricted subsidiary and in each case, not entered into in contemplation hereof) to provide such guarantee or to become a Guarantor, or would require third-party or governmental (including regulatory) consent, approval,
license or authorization to provide such guarantee or to become a Guarantor, (unless such consent, approval, license or authorization has been received), or for which the provision of such guarantee would result in a material adverse tax consequence
to WMIH or one of its subsidiaries (as reasonably determined by the Borrower in consultation with the Administrative Agent), (f) that is a special purpose entity (including not for profit entities and captive insurance companies), (g) that is a
registered broker-dealer, (h) any restricted subsidiary established for the purposes of issuing notes or other securities in connection with a warehouse facility or indebtedness related to mortgage servicing rights or any securitization
entities or (i) any subsidiaries of the type not required to provide guarantees in comparable financings for companies in the Company’s industry with the consent of the Administrative Agent (it being understood and agreed that exceptions
contained in the indentures governing the Company’s existing notes shall not be subject to the consent of the Administrative Agent) (the “Subsidiary Guarantors”) (collectively, and together with WMIH, the
“Guarantors”; and together with the Borrower, the “Credit Parties”). In addition, certain subsidiaries may be excluded from the guarantee requirements under the Bridge Facility Documentation in
circumstances where the Borrower and the Administrative Agent reasonably agree that the cost of providing such a guarantee is excessive in relation to the value afforded thereby.

 
 Subject only to the restricted payment covenant in the Bridge Facility Documentation and
no continuing payment or bankruptcy event of default, WMIH may designate any subsidiary as an “unrestricted subsidiary” and subsequently, subject to WMIH being

  
 [Bridge Facility]

  
 B-2 

			
		  	able to incur at least $1 of additional debt under the Fixed Charge Coverage Ratio, redesignate any such unrestricted subsidiary as a restricted subsidiary. Unrestricted subsidiaries will be excluded from the guarantee requirements
and will not be subject to the representations and warranties, covenants, events of default or other provisions of the Bridge Facility Documentation, and the results of operations and indebtedness of unrestricted subsidiaries will not be taken into
account for purposes of calculating any financial metric contained in the Bridge Facility Documentation except to the extent of distributions received therefrom.
		
	Security:	  	None.
		
	Maturity:	  	All Bridge Loans will have an initial maturity date that is the one-year anniversary of the Closing Date (the “Initial Bridge Loan Maturity Date”), which shall be
extended as provided below. If any of the Bridge Loans have not been previously repaid in full on or prior to the Initial Bridge Loan Maturity Date, unless a bankruptcy event of default with respect to WMIH or the Borrower shall have occurred and be
continuing, (i) the Tranche A Bridge Loans will be automatically converted into a senior unsecured term loan (the “Tranche A Extended Term Loans”) due on the date that is five years after the Closing Date (the
“Tranche A Extended Maturity Date”), (ii) the Tranche B Bridge Loans will be automatically converted into a senior unsecured term loan (the “Tranche B Extended Term Loans”) due on the date that is
eight years after the Closing Date (the “Tranche B Extended Maturity Date”) and (iii) the Tranche C Bridge Loans will be automatically converted into a senior unsecured term loan (the “Tranche C Extended Term
Loans” and, together with the Tranche A Extended Term Loans and the Tranche B Extended Term Loans, the “Extended Term Loans”) due on the date that is ten years after the Closing Date (the “Tranche C
Extended Maturity Date” and, together with the Tranche A Extended Maturity Date and the Tranche B Extended Maturity Date, the “Extended Maturity Dates”), in each case, having terms set forth on Annex I to this
Exhibit B. The date on which Bridge Loans are converted into Extended Term Loans is referred to as the “Conversion Date”. On the Conversion Date, and on the 15th calendar
day of each month thereafter (or the immediately succeeding business day if such calendar day is not a business day) at the option of the applicable Lender, the Extended Term Loans may be exchanged in whole or in part for senior unsecured exchange
notes (the “Exchange Notes”) having an equal principal amount and having the terms set forth in Annex II hereto; provided that (i) no Exchange Notes shall be issued until the Borrower shall have received requests
to issue at least $250.0 million in aggregate principal amount of Exchange Notes and (ii) no subsequent Exchange Notes shall be issued until the Borrower shall have received additional requests to issue at least $250.0 million in
aggregate principal amount of additional Exchange Notes or if less, the remaining amount of Extended Term Loans of such tranche.
		
		  	The Extended Term Loans will be governed by the provisions of the Bridge Facility Documentation (as hereinafter defined) and will have the same terms as the Bridge Loans except as set forth on Annex I hereto. The Exchange Notes will
be issued pursuant to an indenture that will have the terms set forth on Annex II hereto.
		
		  	The Extended Term Loans and the Exchange Notes shall rank equal in right of payment for all purposes.

  
 [Bridge Facility]

  
 B-3 

			
		
	Interest Rates:	  	 Interest on (i) the Tranche A Bridge Loans for the first three-month period commencing on the Closing Date shall be payable at LIBOR (as
defined below) for U.S. dollars (for interest periods of 1, 2, 3 or 6 months, as selected by the Borrower) plus 500 basis points (the “Tranche A Initial Margin”), (ii) the Tranche B Bridge Loans for the first three-month
period commencing on the Closing Date shall be payable at LIBOR for U.S. dollars (for interest periods of 1, 2, 3 or 6 months, as selected by the Borrower) plus 550 basis points (the “Tranche B Initial Margin”) and
(iii) the Tranche C Bridge Loans for the first three-month period commencing on the Closing Date shall be payable at LIBOR for U.S. dollars (for interest periods of 1, 2, 3 or 6 months, as selected by the Borrower) plus 575 basis points (the
“Tranche C Initial Margin” and, together with the Tranche A Initial Margin and the Tranche B Initial Margin, the “Initial Margins”). Thereafter, subject to the applicable Total Cap (as defined in the
Fee Letter), interest shall be payable at prevailing LIBOR for the interest period selected by the Borrower plus the applicable Initial Margin and shall increase by an additional 50 basis points at the beginning of each three-month period subsequent
to the initial three-month period for so long as the applicable Bridge Loans are outstanding (except on the Conversion Date) (the Tranche A Initial Margin together with each 50 basis point increase therein described above, the “Tranche A
Applicable Margin”, the Tranche B Initial Margin together with each 50 basis point increase therein described above, the “Tranche B Applicable Margin”, the Tranche C Initial Margin together with each 50 basis
point increase therein described above, the “Tranche C Applicable Margin” and, together, as applicable, the “Applicable Margin”).

 
 “LIBOR” means the London interbank offered rate for dollars for
the relevant interest period; provided that with respect to the Bridge Facility, LIBOR shall be deemed to be no less than 1.00% per annum.

		
		  	Notwithstanding anything to the contrary set forth above, at no time, other than as provided under the heading “Default Rate” below, shall the per annum yield on (i) the Tranche A Bridge Loans exceed the amount
specified in the Fee Letter in respect of the Tranche A Bridge Loans as the “Tranche A Total Cap”, (ii) the Tranche B Bridge Loans exceed the amount specified in the Fee Letter in respect of the Tranche B Bridge Loans as the
“Tranche B Total Cap” and (iii) the Tranche C Bridge Loans exceed the amount specified in the Fee Letter in respect of the Tranche C Bridge Loans as the “Tranche C Total Cap”.
		
		  	Following the Initial Bridge Loan Maturity Date, all outstanding Extended Term Loans will accrue interest at a rate equal to the applicable Total Cap.
		
	Interest Payments:	  	Interest on the Bridge Loans will be payable in arrears at the end of each interest period and, for interest periods of greater than 3 months, every three months, and on the Initial Bridge Loan Maturity Date. Calculation of interest
shall be on the basis of actual days elapsed in a year of 360 days.
		
	Default Rate:	  	During the continuance of any event of default under the Bridge Facility Documentation, overdue principal, interest, fees and other amounts shall bear interest at the applicable interest rate plus 2.00% per annum.

  
 [Bridge Facility]

  
 B-4 

			
		
		  	Notwithstanding anything to the contrary set forth herein, in no event shall any cap or limit on the yield or interest rate payable with respect to the Bridge Loans, Extended Term Loans or Exchange Notes affect the payment of any
default rate of interest in respect of any Bridge Loan, Extended Term Loans or Exchange Notes.
		
	Mandatory Prepayment:	  	The Borrower will be required to prepay the Bridge Loans on a pro rata basis at 100% of the outstanding principal amount thereof with (i) the net cash proceeds from the issuance of the Notes; provided that in the event
any Lender or affiliate of a Lender purchases debt securities from the Borrower pursuant to a permitted securities demand at an issue price above the price at which such Lender or affiliate has reasonably determined such debt securities can be
resold by such Lender or affiliate to a bona fide third party at the time of such purchase (and notifies the Borrower thereof), the net cash proceeds received by the Borrower in respect of such debt securities may, at the option of such Lender or
affiliate, be applied first to prepay the Bridge Loans of such Lender or affiliate (provided that if there is more than one such Lender or affiliate then such net cash proceeds will be applied pro rata to prepay the Bridge Loans of all such Lenders
or affiliates in proportion to such Lenders’ or affiliates’ principal amount of debt securities purchased from the Borrower) prior to being applied to prepay the Bridge Loans held by other Lenders; (ii) the net cash proceeds from the
issuance of any Refinancing Indebtedness (to be defined in a manner consistent with the Bridge/Bond Documentation Principles) by WMIH or any of its restricted subsidiaries and (iii) the net cash proceeds from any
non-ordinary course asset sales by WMIH or any of its restricted subsidiaries in excess of amounts either reinvested or required to be paid to the holder of certain other indebtedness, in the case of any such
prepayments pursuant to the foregoing clauses (i), (ii) and (iii) above with exceptions and baskets consistent with the Bridge/Bond Documentation Principles (as defined below). The Borrower will also be required to offer to prepay the Bridge
Loans following the occurrence of a Change of Control (to be defined in a manner consistent with the Bridge/Bond Documentation Principles) at 100% of the outstanding principal amount thereof, subject to the Bridge/Bond Documentation Principles.
These mandatory prepayment provisions will not apply to the Extended Term Loans. Mandatory prepayments shall be allocated ratably amongst the Bridge Loan tranches.
		
	Optional Prepayment:	  	The Bridge Loans may be prepaid, in whole or in part, at par plus accrued and unpaid interest upon not less than three days’ prior written notice, at the option of the Borrower at any time. Voluntary prepayments may be
allocated, in the sole discretion of the Borrower, amongst the Bridge Loan tranches.
		
	Documentation:	  	The definitive documentation for the Bridge Facility (the “Bridge Facility Documentation”) shall contain the terms set forth in this Exhibit B and shall otherwise be negotiated in good faith within a
reasonable time period to be determined based on the expected Closing Date and substantially consistent with the USI Advantage Corp. Indenture, dated as of April 18, 2017 (the “USI Indenture”) (reflecting, in the case of
the Bridge Facility or Extended Term Loans, credit agreement format) with changes to the debt and lien covenants as are consistent with provisions customarily found in high yield indentures of comparable issuers in the Company’s industry (and
in any event, the terms shall be no more restrictive than the indentures governing the Company’s existing senior notes) and as modified to reflect the operational and strategic requirements of WMIH, the Borrower and their respective
subsidiaries in light of their size, industries, businesses and business practices, operations, financial accounting and projections set forth in the Acquisition Model (as defined below) and administrative and operational changes as
reasonably

  
 [Bridge Facility]

  
 B-5 

			
		
		  	requested by the Administrative Agent (such precedent, provisions and requirements, the “Bridge/Bond Documentation Principles”). Notwithstanding the foregoing, the only conditions to the availability of the
Bridge Facility on the Closing Date shall be the applicable conditions set forth in the “Conditions to Borrowing” section below and in Exhibit C to the Commitment Letter. The Bridge Facility Documentation shall contain only those
representations, events of default and covenants as set forth in this Exhibit B.
		
	Conditions to Borrowing:	  	 The availability of the Bridge Facility on the Closing Date will be subject solely to (x) the applicable conditions set forth in
Exhibit C to the Commitment Letter, (y) subject to the Funding Conditions Provisions, the Company Representations and the Specified Representations being true and correct in all material respects (provided that any such Specified
Representations which are qualified by materiality, material adverse effect or similar language shall be true and correct in all respects) and (z) the delivery of a customary borrowing notice.

 
 The representations and warranties set forth in the Bridge Facility Documentation will
be required to be made in connection with the borrowing of Bridge Loans on the Closing Date, except that the failure of any representation or warranty (other than the Specified Representations and the Company Representations) to be true and correct
on the Closing Date will not constitute the failure of a condition precedent to funding under the Bridge Facility (but to the extent untrue or incorrect, will constitute a default under the Bridge Facility).

		
	Representations and Warranties:	  	The Bridge Facility Documentation will contain representations and warranties as are usual and customary for bridge loan financings of this type consistent with the Bridge/Bond Documentation Principles, including as to exceptions
and qualifications.
		
	Covenants:	  	 The Bridge Facility Documentation will contain such affirmative and negative covenants with respect to WMIH and its restricted subsidiaries
as are usual and customary for bridge loan financings of this type consistent with the Bridge/Bond Documentation Principles, it being understood and agreed that the covenants of the Bridge Loans (and the Extended Term Loans and the Exchange Notes)
will be incurrence-based covenants consistent with the USI Indenture, with changes as are consistent with provisions customarily found in high yield indentures of comparable issuers in the Company’s industry (and in any event, the terms shall
be no more restrictive than the indentures governing the Company’s existing senior notes) (and consistent with the Bridge/Bond Documentation Principles). The Bridge Facility Documentation shall include, with respect to every monetary basket, a
builder amount based on either consolidated total assets or consolidated EBITDA (at the option of the Borrower and to be elected prior to general syndication).
  

Notwithstanding anything to the contrary, WMIH or any restricted subsidiary will be permitted:

 
 i.   to incur secured
indebtedness in an amount equal to the greater of $200.0 million and a corresponding percentage of consolidated total assets;
  

ii.  to incur and secure unlimited amount of indebtedness to finance or refinance the purchase,
origination, pooling or funding of mortgage servicing rights, securitization indebtedness and indebtedness under residual funding facilities, servicing advance facilities, warehouse facilities and credit enhancement
agreements;

  
 [Bridge Facility]

  
 B-6 

			
		  	  
 iii.   to
incur unsecured indebtedness to finance an acquisition so long as, (a) the Fixed Charge Coverage Ratio of WMIH shall either be (1) greater than or equal to the Fixed Charge Coverage Ratio of WMIH immediately prior to such transactions or
(2) not less than 2.0x or (b) the Consolidated Total Debt Ratio (as defined below) shall either be (1) less than or equal to the Consolidated Total Debt Ratio of WMIH immediately prior to such transactions or (2) not greater than
the Consolidated Total Debt Ratio of WMIH and its subsidiaries as of the Closing Date after giving pro forma effect to the Transactions, in either case, recomputed as of the last day of the most recently ended fiscal quarter of the Company for which
financial statements are available, with a cap to be agreed on such indebtedness that can be incurred by non-Guarantors;
  

iv.   to make restricted payments (including investments) in an unlimited amount subject to no
continuing event of default (or no continuing payment or bankruptcy event of default in the case of investments) and compliance with a pro forma Consolidated Total Debt Ratio of 1.25x less than the Consolidated Total Debt Ratio of WMIH and its
subsidiaries as of the Closing Date after giving pro forma effect to the Transactions (the “General Restricted Payment Ratio”); provided that the making of restricted payments that are investments shall be subject to
compliance with a pro forma Consolidated Total Debt Ratio of 1.00x less than the Consolidated Total Debt Ratio of WMIH and its subsidiaries as of the Closing Date after giving pro forma effect to the Transactions (the “Investment
Restricted Payment Ratio”));
  

v.  to make Permitted Distributions (as defined below);

 
 vi.   to incur indebtedness,
consummate fundamental changes, make distributions, sell assets and make restricted payments (including investments), in each case, among the Borrower, the Guarantors and their restricted subsidiaries, in each case, on terms and conditions
consistent with those in the Bridge/Bond Documentation Principles; and
  

vii.  consummate the Transactions.

 
 In addition, the restricted payment covenant shall include an “Available
Amount Basket”, which shall mean a cumulative amount equal to (a) the greater of (x) $175.0 million and (y) a corresponding percentage of Consolidated EBITDA, plus (b) 50% of Consolidated Net Income (to be defined
in a manner consistent with the Bridge/Bond Documentation Principles), plus, in each of the following clauses (c) through (i), without duplication, (c) the cash proceeds of new public or private equity issuances of any parent of
WMIH or WMIH (other than disqualified stock) to the extent the proceeds thereof are contributed to WMIH as qualified equity and are not a specified equity contribution, plus (d) capital contributions to WMIH made in cash, cash
equivalents or other property (other than disqualified stock) that are not a specified equity contribution, plus (e) the net cash proceeds received by WMIH from debt and disqualified stock issuances that have been issued after the
Closing Date and which have been exchanged or converted into qualified equity, plus (f) the net cash proceeds

  
 [Bridge Facility]

  
 B-7 

			
		  	 received by WMIH and its restricted subsidiaries from sales of investments made using the Available Amount Basket (and not in excess of the
amount of such original investment), plus (g) returns, profits, distributions and similar amounts received by WMIH and its restricted subsidiaries on investments made using the Available Amount Basket (and not in excess of the amount of
such original investment), plus (h) the investments of WMIH and its restricted subsidiaries in any unrestricted subsidiary that has been redesignated as a restricted subsidiary or that has been merged or consolidated with or into WMIH or
any of its restricted subsidiaries (not in excess of the original investments or in respect of permitted investments) plus (i) amounts declined by Lenders in response to an Asset Sale Offer and Net Proceeds from Asset Sales permitted to
be retained by WMIH (each to be defined in a manner consistent with the Bridge/Bond Documentation Principles); provided that use of the Available Amount Basket (other than the amount of the Available Amount Basket attributable to clauses (a),
(b), (c) and (d) above) for (x) dividends and distributions in respect of capital stock of WMIH (or any of its direct or indirect parent companies) and stock repurchases and (y) the prepayment, purchase or redemption of Subordinated
Indebtedness (to be defined in a manner consistent with the Bridge/Bond Documentation Principles), shall in each case be subject to the absence of any event of default; provided further that the use of the Available Amount attributable to
clause (a) above for investments shall be subject to the absence of payment or bankruptcy event of default; provided further that any use of the Available Amount Basket attributable to clause (a) above shall be subject to WMIH being
able to incur at least $1 of additional debt under the Fixed Charge Coverage Ratio.
  

“EBITDA” shall be defined in a manner consistent with the Bridge/Bond Documentation Principles and in any event shall include, without
limitation, add backs, deductions and adjustments, as applicable, without duplication, for (a) non-cash items, (b) extraordinary, unusual or non-recurring
items, (c) restructuring charges and related charges, (d) pro forma adjustments, pro forma cost savings, operating expense reductions, operating enhancements and cost synergies, in each case, related to mergers and other business
combinations, acquisitions, divestitures and other transactions (including in respect of the pro forma adjustments and addbacks set forth in clause (c) above) consummated by WMIH and projected by WMIH in good faith to result from actions taken
or expected to be taken (in the good faith determination of WMIH) within eight fiscal quarters after the date any such transaction is consummated, which shall not be subject to any cap as a percentage of EBITDA, (e) “run rate” cost
savings, operating expense reductions, operating enhancements and synergies projected by WMIH in good faith to result from actions either taken or expected to be taken within 24 months after the date of determination to take such action, so long as
such cash savings and synergies are reasonably identifiable and factually supportable, (f) pro forma synergies (g) adjustments and add backs reflected in either (i) the Sponsor’s financial model dated as of February 1, 2018
(the “Acquisition Model”) or (ii) the management presentation and Confidential Information Memorandum provided by the Company.
  

“Consolidated Total Debt” shall be defined in a manner consistent with the Bridge/Bond Documentation Principles and in any event shall
include no cap on cash netting.
  
 “Consolidated Total Debt
Ratio” shall be defined in a manner consistent with the Bridge/Bond Documentation Principles.

  
 [Bridge Facility]

  
 B-8 

			
		
	 	  	  
 “Fixed Charge Coverage Ratio” shall be defined
in a manner consistent with the Bridge/Bond
Documentation Principles.
  

“Permitted Distributions” shall mean restricted payments in an amount, on an aggregate basis, not to exceed
the sum of (a) up
to 6% per annum of the net proceeds received by (or contributed to) WMIH and its
restricted subsidiaries from any public offering of WMIH’s common stock (or the common stock of any
direct or indirect parent company of WMIH), other than
public offerings with respect to WMIH’s common
stock registered on Form S-4 or Form S-8, and (b) up to 7% of market capitalization.

Prior to the Initial Bridge Loan Maturity Date, the debt and lien incurrence and the restricted payment
covenants of the Bridge Loans will be more
restrictive than those of the Extended Term Loans and the
Exchange Notes, as reasonably agreed by the Lead Arrangers and the Borrower.

		
	Financial Maintenance Covenants:	  	None.
		
	Events of Default:	  	Limited to nonpayment of principal, interest or other amounts; violation of covenants; incorrectness of representations and warranties in any material respect; cross acceleration to material indebtedness; bankruptcy or insolvency of
WMIH, the Borrower or any significant restricted subsidiary; material monetary judgments; ERISA events; and actual or asserted invalidity of guarantees, consistent in each case with the Bridge/Bond Documentation Principles.
		
	Cost and Yield Protection:	  	The Bridge Facility Documentation will include customary tax gross-up, cost and yield protection provisions substantially consistent with those set forth in the Bridge/Bond Documentation
Principles.
		
	Assignment and Participation:	  	The Lenders will have the right to assign Bridge Loans after the Closing Date without the consent of the Borrower; provided, however, that prior to the date that is one year after the Closing Date and so long as a Demand
Failure Event (as defined in the Fee Letter) has not occurred and no payment or bankruptcy event of default shall have occurred and be continuing, the consent of the Borrower shall be required with respect to any assignment (such consent not to be
unreasonably withheld or delayed) if, subsequent thereto, the Initial Lenders (together with their affiliates) would hold, in the aggregate, less than 51% of the outstanding Bridge Loans.
		
	 	  	The Lenders will have the right to participate their Bridge Loans, before or after the Closing Date, to other
financial institutions without restriction, other than customary voting limitations. Participants will have the
same
benefits as the selling Lenders would have (and will be limited to the amount of such benefits) with
regard to yield protection and increased costs, subject to customary limitations and restrictions.
		
	 	  	The Bridge Facility Documentation shall provide that (a) Bridge Loans may be purchased by the Borrower
and assigned on a non-pro rata basis through customary Dutch auction procedures
(so long as such purchases
are offered to all Lenders on a

  
 [Bridge Facility]

  
 B-9 

			
		  	 pro rata basis in accordance with customary procedures to be agreed and subject to customary restrictions to be agreed) and (b) the
Sponsor and its affiliates (other than WMIH and its subsidiaries) (other than any such affiliate that is a bona fide debt fund or entity that extends credit or buys loans in the ordinary course of business (“Affiliated Debt
Fund”)) (each an “Affiliated Lender”) shall be eligible assignees; provided that (i) any such Bridge Loans acquired by WMIH or any of its subsidiaries shall be retired and cancelled promptly upon
acquisition thereof (or contribution thereto) and (ii) any such Bridge Loans acquired by the Sponsor or any of its affiliates may, with the consent of the Borrower, be contributed to the Borrower (whether through any of its direct or indirect
parent entities or otherwise) and exchanged for debt or equity securities of such parent entity or the Borrower that are otherwise permitted to be issued by such entity at such time; provided that assignments to Affiliated Lenders shall be
subject to the following limitations:
  

(i) Affiliated Lenders will not receive information provided solely to Lenders and will not be permitted to
attend/participate in Lender meetings;
  

(ii)  Affiliated Lenders shall have no right to vote any of its interest under the Bridge Facility (such
interest will be deemed voted in the same proportion as non-affiliated Lenders voting on such matter) except that each Affiliated Lender shall have the right to vote on any amendment, modification, waiver or
consent that would require the vote of all Lenders or the vote of all affected Lenders (as set forth in “Voting” below) and no amendment, modification, waiver or consent shall affect any Affiliated Lender (in its capacity as a Lender) in a
manner that is disproportionate to the effect on any Lender of the same class or that would deprive such Affiliated Lender of its pro rata share of any payments to which Lenders are entitled; and

 
 (iii)  the amount of Bridge Loans and
Extended Term Loans purchased by Affiliated Lenders shall not exceed 30% of the aggregate outstanding amount of Bridge Loans and Extended Term Loans at any time.
  

For avoidance of doubt, the foregoing limitations shall not be applicable to Affiliated Debt Funds, KKR Corporate Lending LLC or MCS Corporate Lending
LLC.

		
	Voting:	  	Amendments and waivers of the Bridge Facility Documentation will require the approval of Lenders holding more than 50% of the outstanding Bridge Loans, except that (a) the consent of each affected Lender will be required for
(i) reductions of principal, interest rates or the Applicable Margin, (ii) extensions of the Initial Bridge Loan Maturity Date (except as provided under “Maturity” above) or the Extended Maturity Date, (iii) additional
restrictions on the right to exchange Extended Term Loans for Exchange Notes or any amendment of the rate of such exchange, (iv) any amendment to the Exchange Notes that requires (or would, if any Exchange Notes were outstanding, require) the
approval of all holders of Exchange Notes and (v) subject to certain exceptions consistent with the Bridge/Bond Documentation Principles, releases of all or substantially all of the value of the Guarantees (other than in connection with any
release or sale of the relevant Guarantor permitted by the Bridge Facility Documentation) and (b) the consent of 100% of the Lenders will be required with respect to modifications to any of the voting percentages.

  
 [Bridge Facility]

  
 B-10 

			
		
	Expenses and Indemnification:	  	The Bridge Facility Documentation will include expenses and indemnification provisions as are usual and customary for bridge loan financings of this type and consistent with the Bridge/Bond Documentation Principles.
		
	Governing Law:	  	New York.
		
	Counsel to the Administrative Agent and Lead Arrangers:	  	Shearman & Sterling LLP.

  
 [Bridge Facility]

  
 B-11 

 ANNEX I to 

EXHIBIT B 
 Extended Term Loans

  

			
	Maturity:	  	The Tranche A Extended Term Loans will mature on the date that is five years after the Closing Date. The Tranche B Extended Term Loans will mature on the date that is eight years after the Closing Date. The Tranche C Extended Term
Loans will mature on the date that is ten years after the Closing Date.
		
	Interest Rate:	  	The Tranche A Extended Term Loans will bear interest at an interest rate per annum (the “Extended Tranche A Term Loan Interest Rate”) equal to the Tranche A Total Cap. The Tranche B Extended Term Loans will
bear interest at a rate per annum (the “Extended Tranche B Term Loan Interest Rate”) equal to the Tranche B Total Cap. The Tranche C Extended Term Loans will bear interest at an interest rate per annum (the
“Extended Tranche C Term Loan Interest Rate”) equal to the Tranche C Total Cap. Interest shall be payable on the last day of each fiscal quarter of the Borrower and on the applicable Extended Maturity Date, in each case
payable in arrears and computed on the basis of a 360 day year.
		
	Default Rate:	  	During the continuance of any event of default under the Extended Term Loans, overdue principal, interest, fees and other amounts shall bear interest at the applicable interest rate plus 2.00% per annum.
		
	Ranking:	  	Same as the Bridge Loans.
		
	Guarantees:	  	Same as the Bridge Loans.
		
	Security:	  	None.
		
	Covenants, Defaults and Mandatory Prepayments:	  	Upon and after the Conversion Date, the covenants, mandatory prepayments (other than with respect to a change of control, with respect to which the provisions of the Bridge Loans will apply) and defaults which would be applicable to
the Exchange Notes, if issued, will also be applicable to the Extended Term Loans in lieu of the corresponding provisions of the Bridge Facility Documentation.
		
	Optional Prepayment:	  	The Extended Term Loans may be prepaid, in whole or in part, at par, plus accrued and unpaid interest upon not less than three days’ prior written notice, at the option of the Borrower at any time.
		
	Governing Law:	  	New York.

  
 [Extended Term Loans]

 ANNEX II to 

EXHIBIT B 
 Exchange Notes

  

			
	Issuer:	  	The Borrower will issue the Exchange Notes under an indenture consistent with the terms and conditions of this Annex II and consistent with the Bridge/Bond Documentation Principles. The Borrower, in its capacity as the issuer of the
Exchange Notes, is referred to as the “Issuer”.
		
	Principal Amount:	  	The Exchange Notes will be available only in exchange for the applicable tranche of Extended Term Loans on or after the Conversion Date. The principal amount of any Exchange Note will equal 100% of the aggregate principal amount of
the applicable tranche of Extended Term Loans for which it is exchanged. In the case of a partial exchange, the minimum amount of Extended Term Loans of any tranche to be exchanged for Exchange Notes of the applicable tranche will be
$250.0 million.
		
	Maturity:	  	The Exchange Notes in respect of the Tranche A Bridge Loans (the “Tranche A Exchange Notes”) will mature on the date that is five years after the Closing Date. The Exchange Notes in respect of the Tranche B
Bridge Loans (the “Tranche B Exchange Notes”) will mature on the date that is eight years after the Closing Date. The Exchange Notes in respect of the Tranche C Bridge Loans (the “Tranche C Exchange
Notes”) will mature on the date that is ten years after the Closing Date.
		
	Interest Rate:	  	The Tranche A Exchange Notes will bear interest payable semi-annually, in arrears, at a rate equal to the Tranche A Total Cap. The Tranche B Exchange Notes will bear interest payable semi-annually, in arrears, at a rate equal to the
Tranche B Total Cap. The Tranche C Exchange Notes will bear interest payable semi-annually, in arrears, at a rate equal to the Tranche C Total Cap.
		
	Default Rate:	  	During the continuance of any event of default under the Exchange Notes, overdue principal, interest, fees and other amounts shall bear interest at the applicable interest rate plus 2.00% per annum.
		
	Ranking:	  	Same as the Bridge Loans and Extended Term Loans.
		
	Guarantees:	  	Same as the Bridge Loans and Extended Term Loans.
		
	Security:	  	None.
		
	Offer to Purchase from Asset Sale Proceeds:	  	The Issuer will be required to make an offer to repurchase the Exchange Notes (and, if outstanding, prepay the Extended Term Loans) on a pro rata basis, which offer shall be at 100% of the principal amount thereof with a portion of
the net cash proceeds of all non-ordinary course asset sales by the Issuer and its restricted subsidiaries in excess of amounts either reinvested or required to be paid to the lenders under certain other
indebtedness, with such proceeds being applied to the Extended Term Loans, the Exchange Notes, and the Notes in a manner to be agreed, subject to other exceptions and baskets consistent with the Bridge/Bond Documentation Principles.
		
	Offer to Purchase upon Change of Control:	  	The Issuer will be required to make an offer to repurchase the Exchange Notes following the occurrence of a Change of Control (to be defined in a manner consistent with the Bridge/Bond Documentation Principles) at a price in cash
equal to 101% (or 100% in the case of Exchange Notes held by the Commitment Parties or their respective affiliates

  
 [Exchange Notes] 

			
	 	  	other than asset management affiliates purchasing securities in the ordinary course of their business as part
of a regular distribution of the securities (“Asset Management Affiliates”)), and excluding
Exchange Notes
acquired pursuant to bona fide open market purchases from third parties or market activities (“Repurchased
Securities”), of the outstanding principal amount thereof, plus accrued and unpaid interest to
the date of
repurchase unless the Issuer shall redeem such Exchange Notes pursuant to the “Optional Redemption”
section below.
		
	Optional Redemption:	  	Except as set forth in the next two succeeding paragraphs, the Tranche A Exchange Notes will be non-callable until the second anniversary of the Closing Date. Thereafter, each such Tranche A
Exchange Note will be callable at par plus accrued interest plus a premium equal to 50% of the coupon on such Tranche A Exchange Note during the third year after the Closing Date, which call premium shall ratably decline to zero on the fourth
anniversary of the Closing Date.
		
	 	  	Prior to the second anniversary of the Closing Date, the Issuer may redeem such Tranche A Exchange Notes
at a make-whole price based on U.S. Treasury notes with a maturity closest to the second anniversary of the
Closing Date
plus 50 basis points.
		
	 	  	Prior to the second anniversary of the Closing Date, the Issuer may redeem up to 40% of such Tranche A
Exchange Notes with an amount equal to proceeds from any equity offering at a price equal to par plus the
coupon plus
accrued interest on such Tranche A Exchange Notes on terms consistent with the Bridge/Bond
Documentation Principles.
		
	 	  	Except as set forth in the next two succeeding paragraphs, the Tranche B Exchange Notes will be
non-callable until the third anniversary of the Closing Date. Thereafter, each such Tranche B
Exchange Note
will be callable at par plus accrued interest plus a premium equal to 50% of the coupon on such Tranche B
Exchange Note during the fourth year after the Closing Date, which call premium shall ratably decline to
zero on the
sixth anniversary of the Closing Date.
		
	 	  	Prior to the third anniversary of the Closing Date, the Issuer may redeem such Tranche B Exchange Notes at
a make-whole price based on U.S. Treasury notes with a maturity closest to the third anniversary of the
Closing Date
plus 50 basis points.
		
	 	  	Prior to the third anniversary of the Closing Date, the Issuer may redeem up to 40% of such Tranche B
Exchange Notes with an amount equal to proceeds from any equity offering at a price equal to par plus the
coupon plus
accrued interest on such Exchange Notes on terms consistent with the Bridge/Bond
Documentation Principles.
		
	 	  	Except as set forth in the next two succeeding paragraphs, the Tranche C Exchange Notes will be
non-callable until the fifth anniversary of the Closing Date. Thereafter, each such Tranche C
Exchange Note
will be callable at par plus accrued interest plus a premium equal to 50% of the coupon on such Tranche C
Exchange Note during the sixth year after the Closing Date, which call premium shall ratably decline to zero
on the
eighth anniversary of the Closing Date.
		
	 	  	Prior to the fifth anniversary of the Closing Date, the Issuer may redeem such Tranche C Exchange Notes at
a make-whole price based on U.S. Treasury notes with a maturity closest to the fifth anniversary of the
Closing Date
plus 50 basis points.

  
 [Exchange Notes] 

  
 B-II-2 

			
	 	  	Prior to the fifth anniversary of the Closing Date, the Issuer may redeem up to 40% of such Tranche C
Exchange Notes with an amount equal to proceeds from any equity offering at a price equal to par plus the
coupon plus
accrued interest on such Exchange Notes on terms consistent with the Bridge/Bond
Documentation Principles.
		
	 	  	The optional redemption provisions will be otherwise customary for high yield transactions and consistent
with the Bridge/Bond Documentation Principles. Prior to a Demand Failure Event, any Exchange Notes held
by the
Commitment Parties or their respective affiliates (other than Asset Management Affiliates) and
excluding Repurchased Securities, shall be redeemable at any time and from time to time at the option of the
Borrower at a redemption price equal to
par plus accrued and unpaid interest to the redemption date.
		
	Defeasance and Discharge Provisions:	  	Consistent with the Bridge/Bond Documentation Principles.
		
	Modification:	  	Consistent with the Bridge/Bond Documentation Principles.
		
	Registration Rights:	  	None.
		
	Right to Transfer Exchange Notes:	  	The holders of the Exchange Notes shall have the absolute and unconditional right to transfer such exchange notes in compliance with applicable law to any third parties pursuant to Rule 144A and Regulation S (or any successor
provisions thereto).
		
	Covenants:	  	Such affirmative and negative covenants with respect to WMIH and its restricted subsidiaries as are usual and customary for high yield financings of this type consistent with the Bridge/Bond Documentation Principles, it being
understood and agreed that the covenants of the Exchange Notes will be incurrence-based covenants consistent with the USI Indenture, with changes as are consistent with provisions customarily found in high yield indentures of comparable U.S.-based
issuers in the Company’s industry (and in any event, the terms shall be no more restrictive than the indentures governing the Company’s existing senior notes) (and consistent with the Bridge/Bond Documentation Principles).
		
	Events of Default:	  	Consistent with the Bridge/Bond Documentation Principles.
		
	Governing Law:	  	New York.

  
 [Exchange Notes] 

  
 B-II-3 

			
	CONFIDENTIAL	  	EXHIBIT C

 Project Eclipse 

Summary of Additional Conditions 

Except as otherwise set forth below (and in section entitled “Conditions to Borrowing” in Exhibit B to the Commitment Letter), the
availability and initial funding on the Closing Date of the Bridge Facility shall be subject solely to the satisfaction (or waiver in writing by the Commitment Parties) of the following conditions: 

1. The Acquisition shall have been consummated in all material respects in accordance with the terms of the Acquisition Agreement, without
giving effect to any modifications, amendments or express waivers or consents by you thereto that are materially adverse to the Lenders in their capacities as such without the consent of the Majority Lead Arrangers (or, solely in the case of an
extension of the End Date, each Lead Arranger) (not to be unreasonably withheld, conditioned or delayed) (it being understood and agreed that (a) any change to the definition of “Company Material Adverse Effect” contained in the
Acquisition Agreement shall be deemed to be materially adverse to the Lenders, (b) any change to, or consent under, the definition of “End Date” contained in the Acquisition Agreement which extends the End Date past the Commitment
Termination Date (as of the date hereof) shall be deemed to be materially adverse to the Lenders and (c) any modification, amendment or express waiver or consents by you that results in an increase or reduction in the purchase price shall be
deemed to not be materially adverse to the Lenders so long as (i) any increase in the purchase price shall not be funded with additional indebtedness and (ii) any reduction shall be allocated solely to reduce the Bridge Facility. 

2. Subject to Section 10.5 of the Acquisition Agreement, (a) except as disclosed in the Company SEC Documents (as defined in the
Acquisition Agreement) publicly filed since January 1, 2015 and prior to the date of the Acquisition Agreement (provided that in no event shall any risk factor disclosure under the heading “Risk Factors” or disclosure set forth in any
“forward looking statements” disclaimer or other general statements to the extent they are cautionary, predictive or forward looking in nature that are included in any part of any Company SEC Document be deemed to be an exception to, or,
as applicable, disclosure for purposes of this paragraph 2) and (b) except as set forth in the Company Disclosure Letter (as defined in the Acquisition Agreement), since December 31, 2016, there has not been any event, change, development
or occurrence that has had or would reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect (as defined in the Acquisition Agreement). 

3. All fees required to be paid on the Closing Date pursuant to the Fee Letter and reasonable out-of-pocket expenses required to be paid on the Closing Date pursuant to the Commitment Letter, to the extent invoiced at least three business days prior to the Closing Date (except as otherwise reasonably
agreed by the Borrower), shall, upon the initial borrowings under the Bridge Facility, have been, or will be substantially simultaneously, paid (which amounts may, at your option, be offset against the proceeds of the Bridge Facility). 

4. The Lead Arrangers shall have received (a)(i) the audited consolidated balance sheets as of the two most recently completed fiscal years
ended at least 90 days prior to the Closing Date and the related audited consolidated statements of operations, stockholder’s equity and cash flows of WMIH and its subsidiaries for the three most recently completed fiscal years ended at least
90 days prior to the Closing Date; and (ii) the audited consolidated balance sheets as of the two most recently completed fiscal years ended at least 90 days prior to the Closing Date and the related audited consolidated statements of
operations and comprehensive income and cash flows of the Company and its 

  
 [Summary of Additional
Conditions] 

 
subsidiaries for the three most recently completed fiscal years ended at least 90 days before the Closing Date; and (b)(i) the unaudited consolidated balance sheets and the related unaudited
consolidated statements of operations, stockholder’s equity and cash flows of WMIH and its subsidiaries as of and for each subsequent fiscal quarter (other than the fourth fiscal quarter of WMIH’s fiscal year) ended at least 45 days before
the Closing Date (and the same period in the prior fiscal year); and (ii) the unaudited consolidated balance sheets and the related unaudited consolidated statements of operations and comprehensive income and cash flows of the Company and its
subsidiaries as of and for each subsequent fiscal quarter (other than the fourth fiscal quarter of WMIH’s fiscal year) ended at least 45 days before the Closing Date (and the same period in the prior fiscal year). The Lead Arrangers hereby
acknowledge receipt of the audited financial statements referred to in clauses (a)(i) and (a)(ii) above for 2014, 2015 and 2016 and the unaudited financial statements referred to in clause (b)(i) and (b)(ii) for the first three fiscal quarter of
2017. 
 5. The Lead Arrangers shall have received (a) a pro forma statement of income of WMIH and its subsidiaries for the most
recently completed fiscal year ended at least 90 days before the Closing Date; (b) a pro forma statement of income of WMIH and its subsidiaries for the latest interim period covered by the financial statements provided pursuant to
Section 4(b)(i) above; (c) a pro forma balance sheet as of the most recently completed fiscal quarter ended at least 45 days before the Closing Date (or 90 days prior to the Closing Date in case such four fiscal quarter period is the end
of WMIH’s fiscal year) and (d) a pro forma consolidated income statement of WMIH and its subsidiaries for the 12-month period ending on the last day of the most recently completed four-fiscal quarter
period ended at least 45 days prior to the Closing Date (or 90 days prior to the Closing Date in case such four fiscal quarter period is the end of WMIH’s fiscal year), in each case, prepared after giving effect to the Transactions as if each
such transaction had occurred as of such dates (in the case of such balance sheet) or at the beginning of such period (in the case of such income statement), which need not be prepared in compliance with Regulation
S-X of the Securities Act of 1933, as amended, or include adjustments for purchase accounting (including adjustments of the type contemplated by Financial Accounting Standards Board Accounting Standards
Codification 805, Business Combinations (formerly SFAS 141R)). 
 6. The Administrative Agent and the Lead Arrangers shall have received at
least two business days prior to the Closing Date all documentation and other information about the Company, WMIH and the subsidiaries of the Company and WMIH that will become Guarantors as shall have been reasonably requested in writing by the
Administrative Agent or the Lead Arrangers at least ten calendar days prior to the Closing Date and as required by U.S. regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including
without limitation the PATRIOT Act. 
 7. (a) Investment banks (the “Investment Banks”) shall have been engaged
to privately place the Notes pursuant to the engagement letter dated the date hereof among the Investment Banks and Borrower, and each shall have received (i) a customary preliminary offering memorandum containing (A) all customary
information, including financial statements of the Borrower, WMIH and the Company (other than pro forma financial statements which are described below), business and other financial data of the type and form that are customarily included in private
placements pursuant to Rule 144A promulgated under the Securities Act (including information required by Regulation S-X and Regulation S-K under the
Securities Act, which is understood not to include (I) a “description of notes,” “plan of distribution” and information customarily provided by the Investment Banks or their counsel or advisors in the preparation of an
offering memorandum for an offering of high yield unsecured debt securities in a private placement under Rule 144A of the Securities Act, including any risk factors relating to, or any description of, all or any component of the financing
contemplated thereby or by this Commitment Letter, (II) segment reporting or consolidating financial statements, separate subsidiary financial statements and other financial statements and data that would be required by Sections 3-09, 3-10 

  
 [Summary of Additional
Conditions] 

 
and 3-16 of Regulation S-X, (III) CD&A and other information required by Item 402 of Regulation S-K and information regarding executive compensation and related party disclosure related to SEC Release Nos. 33-8732A, 34-54302A and IC-27444A, and (IV) other customary exceptions) and (B) pro forma financial statements of the type and form that are customarily included in private placements pursuant to Rule 144A promulgated under
the Securities Act to be prepared in a manner consistent with Regulation S-X, which give pro forma effect to the Transactions (and in the case of pro forma financial statements for the twelve-month period
ending on the last day of the most recently completed four-fiscal quarter period presented, as if Regulation S-X was applicable to such financial statements) and (ii) all other financial data of
the Borrower, WMIH and the Company that would be reasonably necessary for the Investment Banks to receive customary “comfort” letters from the independent accountants of the Borrower, WMIH and the Company, respectively, in connection with
the offering of the Notes (and the Borrower shall have made all commercially reasonable efforts to provide the Investment Banks with drafts of such “comfort” letters (which shall provide customary “negative assurance” comfort),
which such accountants are prepared to issue upon completion of customary procedures) and (b) the Investment Banks shall have been afforded a period (the “Marketing Period”) of at least 15 consecutive business days
upon receipt of the information described above in clause (a)(i) (the “Required Information”) to seek to place the Notes with qualified purchasers thereof; provided, that (i) May 25, 2018 shall be
excluded from the determination of such Marketing Period, (ii) July 3, 2018 shall be excluded from the determination of such Marketing Period, (iii) if such Marketing Period has not ended on or prior to August 17, 2018, then such
Marketing Period shall not commence prior to September 4, 2018 and (iv) if such Marketing Period has not ended on or prior to December 21, 2018, then such Marketing Period shall not commence prior to January 2, 2019. If the
Borrower in good faith reasonably believes that it has provided the Required Information and that the Marketing Period has commenced, it may deliver to the Lead Arrangers a written notice to that effect (stating when the Borrower believes it
completed delivery of the Required Information), in which case, the Marketing Period will be deemed to have commenced on the date set forth in such notice unless the Majority Lead Arrangers in good faith reasonably believe that the Marketing Period
has not commenced and within two (2) Business Days after the delivery of such notice deliver a written notice to the Borrower to that effect (stating with specificity why the Majority Lead Arrangers believe the Marketing Period has not
commenced). 
 8. Subject in all respects to the Funding Conditions Provisions, the Guarantees shall have been executed by WMIH and the
subsidiaries of WMIH that will become Guarantors and be in full force and effect or substantially simultaneously with the consummation of the Acquisition. 

9. Subject in all respects to the Funding Conditions Provisions, (a) the Bridge Facility Documentation (which shall be in accordance with
the terms of the Commitment Letter and the Term Sheet and the Bridge/Bond Documentation Principles, as applicable) shall have been executed and delivered by the Credit Parties and (b) customary legal opinions, customary officer’s closing
certificates, organizational documents, customary evidence of authorization and good standing certificates in jurisdictions of formation/organization, in each case with respect to the Borrower and the Guarantors (to the extent applicable) and a
solvency certificate (as of the Closing Date after giving effect to the Transactions and substantially in the form of Annex C-I attached hereto, certified by a senior authorized financial officer of WMIH)
shall have been delivered to the Lead Arrangers. 
 10. The Equity Contribution shall have been made, or substantially concurrently with the
borrowings under the Bridge Facility and/or the issuance of the Notes shall be made, in at least an amount equal to the Minimum Equity Contribution and the Refinancing shall have been completed substantially concurrently with the borrowings under
the Bridge Facility and/or the issuance of the Notes. 

  
 [Summary of Additional
Conditions] 

			
	CONFIDENTIAL	  	ANNEX C-I

 Form of Solvency Certificate 

Date:             

Reference is made to Credit Agreement, dated as of [•] (the “Credit Agreement”), among [•] (the
“Borrower”), the lending institutions from time to time parties thereto (the “Lenders”), and [•], as Administrative Agent. 

Capitalized terms used but not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement. This certificate is
furnished pursuant to Section [•] of the Credit Agreement. 
 Solely in my capacity as a financial executive officer of WMIH and not
individually (and without personal liability), I hereby certify, that as of the date hereof, after giving effect to the consummation of the transactions in connection with the Bridge Facility: 

 

	 	1.	The sum of the liabilities (including contingent liabilities) of WMIH and its restricted subsidiaries, on a consolidated basis, does not exceed the present fair saleable value of the present assets of WMIH and its
restricted subsidiaries, on a consolidated basis. 

  

	 	2.	The fair value of the property of WMIH and its restricted subsidiaries, on a consolidated basis, is greater than the total amount of liabilities (including contingent liabilities) of WMIH and its restricted
subsidiaries, on a consolidated basis. 

  

	 	3.	The capital of WMIH and its restricted subsidiaries, on a consolidated basis, is not unreasonably small in relation to their business as contemplated on the date hereof. 

 

	 	4.	WMIH and its restricted subsidiaries, on a consolidated basis, have not incurred and do not intend to incur, or believe that they will incur, debts including current obligations beyond their ability to pay such debts as
they become due (whether at maturity or otherwise). 

 For purposes of this Certificate, the amount of any contingent
liability has been computed as the amount that, in light of all of the facts and circumstances existing as of the date hereof, represents the amount that would reasonably be expected to become an actual or matured liability. 

IN WITNESS WHEREOF, I have executed this Certificate as of the date first written above. 

 

			
	[WMIH]
		
	By:	 	 
		 	Name:
		 	Title:

  
 [Solvency Certificate]EX-10.1

 Exhibit 10.1 

VISTEON CORPORATION 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT 

This Amended and Restated Employment Agreement (this “Agreement”) is entered into effective as of February 12, 2018 (the
“Effective Date”), by and between Visteon Corporation, a Delaware corporation (the “Company”), and Sachin Lawande (the “Employee”). 

BACKGROUND 

A.    The Employee and the Company are party to an Employment Agreement effective as of June 8, 2015 (the
“Prior Employment Agreement”) pursuant to which the Employee currently serves as the Chief Executive Officer of the Company. 

B.    The term of the Prior Employment Agreement is scheduled to expire on June 29, 2018. 

C.    The Employee and the Company desire to amend and restate the terms of the Prior Employment Agreement to set forth
the terms pursuant to which the Employee will continue to serve as the Chief Executive Officer of the Company. 
 AGREEMENT 

In consideration of the mutual promises contained herein and of other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto hereby agree as follows: 
 1.    POSITION AND DUTIES. 

(a)    During the Term (as defined in Section 2 hereof), the Employee shall continue to serve as the Chief Executive
Officer of the Company. In addition, during the Term, the Employee shall serve, and be re-nominated from year to year to serve, as a member of the Board of Directors of the Company (the
“Board”); provided that the Employee’s continued service as a member of the Board shall at all times remain subject to applicable law and to any and all nomination and election procedures in accordance with the Company’s
charter and by-laws. In the foregoing capacities, the Employee shall have the duties, authorities and responsibilities commensurate with the duties, authorities and responsibilities of persons in similar
capacities in similarly sized companies, and such other duties, authorities and responsibilities as may reasonably be assigned to the Employee from time to time that are not inconsistent with the Employee’s position with the Company. The
Employee’s principal place of employment with the Company shall be in Van Buren Township, Michigan, provided that the Employee understands and agrees that the Employee may be required to travel from time to time, both domestically and
internationally, for business purposes. The Employee shall report directly to the Board. 
 (b)    During the Term, the
Employee shall devote all of the Employee’s business time, energy, business judgment, knowledge and skill and the Employee’s best efforts to the performance of the Employee’s duties with the Company, provided that the foregoing shall
not 

 
prevent the Employee from (i) serving on the boards of directors of for-profit and non-profit organizations,
subject to the written approval of the Board, including service on one (1) board of directors as agreed to by the Company in advance of the Effective Date, (ii) participating in charitable, civic, educational, professional, community or
industry affairs and (iii) managing the Employee’s passive personal investments so long as such activities do not individually or collectively interfere or conflict with the Employee’s duties hereunder or create a potential business
or fiduciary conflict. 
 2.    EMPLOYMENT TERM. The term of the Agreement shall extend through June 29, 2021 (the
“Term”). The Term, but not Employee’s employment with the Company, shall terminate on June 29, 2021 without further action by the Company or the Employee unless they have before that date mutually agreed to an extension of
the Term. However, both the Term of the Agreement and the Employee’s employment shall terminate sooner pursuant to Section 7 hereof, subject to Section 8 hereof. If the Term is not earlier terminated in accordance with Section 7
hereof, it will automatically terminate on June 29, 2021, without further action by the Company or the Employee unless both the Company and the Employee have, before that date, mutually agreed to an extension of the Term. 

3.    BASE SALARY. During the Term, the Company agrees to pay the Employee an initial base salary at an annual rate of
$1,030,000, payable in accordance with the regular payroll practices of the Company, but not less frequently than monthly. The Employee’s base salary shall be subject to annual review by the Board (or a committee thereof) based on market
trends, internal considerations and performance. The base salary as determined herein and adjusted from time to time shall constitute “Base Salary” for purposes of this Agreement. 

4.    ANNUAL INCENTIVE OPPORTUNITY. During the Term, the Employee shall have an annual incentive opportunity, under the
Company’s annual incentive plan in effect from time to time for its senior executive officers, based on a target incentive opportunity of, beginning in fiscal year 2018, at least 125% of the Employee’s Base Salary (“Target
Bonus”) and a maximum incentive opportunity of not less than 200% of the Employee’s Target Bonus, subject to the attainment of one or more pre-established performance goals established by the
Board (or a committee thereof) in its sole discretion. Any annual incentive payable hereunder shall be paid in cash in United States dollars the calendar year following the calendar year to which such incentive relates at the same time as annual
incentive payments for such year are paid to other senior executives, subject to the Employee’s continued employment at the time of payment, except as otherwise set forth herein. 

5.    LONG-TERM INCENTIVE AWARDS. 

(a)    During the Term, the Employee shall be eligible for annual awards under the Company’s long-term incentive
compensation arrangements as reasonably determined by the Board (or any subcommittee thereof), in accordance with the Company’s policies and the applicable award agreements and incentive compensation plans under which such awards may be
granted, as in effect from time to time. 
 (b)    For the avoidance of doubt, the terms and conditions of the
Employee’s Initial Equity Award and Sign-On/Buy-Out Equity Award (as each is defined in the Prior Employment Agreement) shall remain subject to the terms and
conditions set forth in the Prior Employment Agreement and, to the extent consistent with the Prior Employment Agreement, the Company’s 2010 Incentive Plan and the applicable award agreements. 

  
 2 

 6.    EMPLOYEE BENEFITS. 

(a)    BENEFIT PLANS. During the Term, the Employee shall be entitled to participate in any employee benefit plan
that the Company has adopted or may adopt, maintain or contribute to for the benefit of its executive employees generally (including, without limitation, any supplemental executive retirement plan and any other program or arrangement available only
to senior officers of the Company), subject to satisfying the applicable eligibility requirements, and except to the extent such plans are duplicative of the benefits otherwise provided hereunder. The Employee’s participation in the employee
benefit plans of the Company will be subject to the terms of the applicable plan documents and generally applicable Company policies. For purposes of the Company supplemental executive retirement plan, the Employee shall be an “elected
Corporate Officer” eligible to participate in that plan and shall become vested in his supplemental executive retirement plan benefit based on the terms and conditions of the supplemental executive retirement plan, as amended from time to time.
Notwithstanding the foregoing, the Company may modify or terminate any employee benefit plan at any time. 

(b)    VACATION. During the Term, the Employee shall be entitled to four weeks of paid vacation per calendar year
(as prorated for partial years), subject to the Company’s policy on accrual and use applicable to employees as in effect from time to time. 

(c)    BUSINESS EXPENSES. Upon presentation of reasonable substantiation and documentation as the Company may
specify from time to time, the Employee shall be reimbursed, in accordance with the Company’s expense reimbursement policy as in effect from time to time, for all reasonable
out-of-pocket business expenses incurred and paid by the Employee during the Term and in connection with the performance of the Employee’s duties hereunder. 

(d)    PROFESSIONAL FEES. Upon presentation of appropriate documentation, the Company shall reimburse the Employee
for up to $10,000 of reasonable professional fees incurred in connection with the negotiation and documentation of this Agreement and related agreements hereunder. 

7.    TERMINATION. Both the Employee’s employment and the Term shall terminate on the first of the following to occur:

 (a)    DISABILITY. Upon ten (10) days’ prior written notice by the Company to the Employee of a
termination due to Disability. For purposes of this Agreement, “Disability” shall be defined as the inability of the Employee to have performed the Employee’s material duties hereunder due to a physical or mental injury,
infirmity or incapacity for 180 days (including weekends and holidays) in any 365-day period as determined by the Board in its reasonable discretion and the findings of a physician mutually selected by
the Company and the Employee (or the Employee’s representative). The Employee shall cooperate in all respects with the 

  
 3 

 
Company if a question arises as to whether the Employee has become disabled (including, without limitation, submitting to reasonable examinations by one or more medical doctors and other health
care specialists selected by the Company and authorizing such medical doctors and other health care specialists to discuss the Employee’s condition with the Company). 

(b)    DEATH. Automatically upon the date of death of the Employee. 

(c)    CAUSE. Immediately upon written notice by the Company to the Employee of a termination for Cause.
“Cause” shall mean: 
 (i)    the Employee’s conviction of, or pleading of guilty to, or entering a
plea of no contest to, any felony or any crime involving moral turpitude or misrepresentation; 
 (ii)    the
Employee’s willful failure or refusal to carry out the reasonable and lawful directions of the Board concerning duties or actions consistent with the Employee’s position; 

(iii)    the Employee’s willful misconduct against the Company constituting fraud, embezzlement, misappropriation of
funds or breach of fiduciary duty; 
 (iv)    the Employee’s gross or willful misconduct resulting in substantial
loss to the Company or substantial damage to the Company’s reputation; 
 (v)    the Employee’s material and
willful violation of any material reasonable rules, regulations, policies, directions or restrictions of the Company regarding employee conduct; or 

(vi)    the Employee’s willful and material breach of any provision of this Agreement. 

For such purpose, no act or omission to act by the Employee shall be “willful” if conducted in good faith and with a reasonable
belief that such act or omission was in the best interests of the Company. Any determination of Cause by the Company will be made by a resolution approved by a majority of the members of the Board (excluding the Employee), provided that no such
determination may be made until the Employee has been given written notice detailing the specific Cause event, an opportunity to appear before the Board to refute such finding (with the assistance of counsel), and a period of thirty (30) days
following such appearance to cure such event (if susceptible to cure) to the satisfaction of the Board. Notwithstanding anything to the contrary contained herein, the Employee’s right to cure shall not apply if there are habitual or repeated
breaches by the Employee. 
 (d)    WITHOUT CAUSE. Immediately upon written notice by the Company to the Employee
of an involuntary termination without Cause (other than for death or Disability). 
 (e)    GOOD REASON. Upon
written notice by the Employee to the Company of a termination for Good Reason. “Good Reason” shall mean the occurrence of any of the following events, without the express written consent of the Employee, unless such events are
fully corrected in all material respects by the Company within thirty (30) days following written notification by the Employee to the Company of the occurrence of one of the reasons set forth below: 

  
 4 

 (i)    the Company’s assignment to the Employee of duties (including
titles and reporting relationships) inconsistent in any material respect with the Employee’s duties or responsibilities as contemplated by this Agreement, any failure to re-nominate the Employee for
election by the Company’s stockholders as a member of the Board, or any other action by the Company that results in a significant diminution in the Employee’s position, authority, duties or responsibilities (provided that any sale or other
disposition of assets by the Company shall not, in and of itself, constitute a significant diminution in the Employee’s position, authority, duties or responsibilities; and provided, further, that a reduction in authority, duties or
responsibilities resulting solely from the Company ceasing to be a publicly traded entity shall not constitute Good Reason hereunder); or 

(ii)    the Company’s material breach of any provision of this Agreement. 

The Employee shall provide the Company with a written notice detailing the specific circumstances alleged to constitute Good Reason within
forty-five (45) days after the first occurrence of such circumstances, and actually terminate employment within thirty (30) days following the expiration of the Company’s cure period as set forth above. Otherwise, any claim of such
circumstances as “Good Reason” shall be deemed irrevocably waived by the Employee. 
 (f)    WITHOUT GOOD
REASON. Upon thirty (30) days’ prior written notice by the Employee to the Company of the Employee’s voluntary termination of employment without Good Reason (which the Company may, in its sole discretion, make effective earlier
than any notice date). 
 8.    CONSEQUENCES OF TERMINATION. 

(a)    DEATH. In the event that, during the Term, the Employee’s employment terminates on account of the
Employee’s death, the Employee or the Employee’s estate, as the case may be, shall be entitled to the following (with the amounts due under Sections 8(a)(i) through 8(a)(iii) hereof to be paid within sixty (60) days following
termination of employment, or such earlier date as may be required by applicable law): 
 (i)    any earned and unpaid
Base Salary through the date of termination; 
 (ii)    reimbursement for any unreimbursed business expenses incurred
through the date of termination; 
 (iii)    any accrued but unused vacation time in accordance with Company policy; 

(iv)    all other vested payments, benefits or fringe benefits to which the Employee shall be entitled under the terms of
any applicable compensation arrangement or benefit, equity or fringe benefit plan or program or grant or this Agreement (collectively, Sections 8(a)(i) through 8(a)(iv) hereof shall be hereafter referred to as the “Accrued
Benefits”); 

  
 5 

 (v)    payment of the Employee’s bonus and long-term incentive award, if
any, for all performance periods completed prior to the Employee’s termination, to the extent earned, which shall be payable when such bonuses and awards are payable to other employees, to the extent not otherwise payable on the same or more
favorable terms under the terms of such award (the “Prior Bonuses”); and 
 (vi)    payment of the
Employee’s annual incentive for the incomplete calendar year during which such termination occurs, which shall be earned and payable based on actual results in accordance with the terms thereof and payable at the time when such bonuses and
awards are payable to other employees as if the Employee’s employment had not terminated (and with any subjective criteria deemed satisfied at target), except that such amount shall be prorated based on the fraction the numerator of which shall
be the number of days employed during such calendar year prior to the Employee’s termination and the denominator of which shall be the total number of days in that calendar year (the “Pro Rata Bonus”). 

(b)    DISABILITY. In the event that, during the Term, the Employee’s employment terminates on account of the
Employee’s Disability, the Company shall pay or provide the Accrued Benefits, the Prior Bonuses and the Pro Rata Bonus to the Employee. 

(c)    TERMINATION FOR CAUSE OR WITHOUT GOOD REASON. If, during the Term, the Employee’s employment is
terminated (x) by the Company for Cause, or (y) by the Employee without Good Reason, the Company shall pay or provide the Accrued Benefits to the Employee. 

(d)    TERMINATION WITHOUT CAUSE OR FOR GOOD REASON. If, during the Term, the Employee’s employment by the
Company is terminated (x) by the Company other than for Cause (and other than for death or Disability), or (y) by the Employee for Good Reason, the Company shall pay or provide the Employee with the following: 

(i)    the Accrued Benefits; 

(ii)    If the Employee’s termination is prior to or more than twenty-four (24) months following a Change in
Control and subject to the Employee’s continued compliance with the obligations in Sections 9 and 10 hereof, in lieu of any further salary payment to the Employee for any period after the termination, a lump sum severance payment, in cash,
equal to one and one half times (1.5x) the sum of: (x) the Employee’s Base Salary as in effect immediately prior to the termination or, if higher, in effect immediately prior to the first occurrence of an event or circumstance constituting
Good Reason, and (y) the Employee’s Target Bonus in respect of the fiscal year in which occurs the termination or, if higher, the fiscal year in which occurs the first event or circumstance constituting Good Reason, such lump sum severance
payment to be paid on the sixtieth (60th) day following the Employee’s date of termination, provided that that the release provided in Section 9 has become irrevocable prior to such date
and except as otherwise provided in Section 25(b). 
 (iii)    Subject to (A) the Employee’s timely
election of continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), (B) the Employee’s continued copayment of premiums at the same level and cost to the

  
 6 

 
Employee as if the Employee were an employee of the Company (excluding, for purposes of calculating cost, an employee’s ability to pay premiums with
pre-tax dollars), and (C) the Employee’s continued compliance with the obligations in Sections 9 and 10 hereof, continued participation in the Company’s group health plan (to the extent
permitted under applicable law and the terms of such plan) which covers the Employee (and the Employee’s eligible dependents) for a period of eighteen (18) months at the Company’s expense, provided that the Employee is eligible and
remains eligible for COBRA coverage; and provided, further, that in the event that the Employee obtains other employment that offers group health benefits, such continuation of coverage by the Company under this Section 8(d)(iii) shall
immediately cease. 
 (iv)    Without duplication of any amount payable to the Employee under the terms of the applicable
incentive plan, the Company shall pay to the Employee, a lump sum amount, in cash, equal to the sum of (1) the Prior Bonuses and (2) the Pro Rata Bonus. Notwithstanding the foregoing, if and to the extent the Employee had elected to defer
receipt of any of the Prior Bonuses and if the Employee’s deferral election is irrevocable as of the date of termination for purposes of Code Section 409A, the amount calculated above shall be credited to the Employee’s account under
the applicable deferred compensation plan in lieu of being distributed directly to the Employee. 
 (v)    Subject to the
Employee’s continued compliance with the obligations in Sections 9 and 10 hereof, up to $50,000 of outplacement services through the first anniversary of the termination. 

(vi)    The Employee’s Initial Equity Award and
Sign-On/Buy-Out Equity Award (as defined in the Prior Employment Agreement) shall vest and be exercisable or settled. 

Payments and benefits provided in this Section 8(d) shall be in lieu of any termination or severance payments or benefits for which the
Employee may be eligible under any of the plans, policies or programs of the Company or under the Worker Adjustment Retraining Notification Act of 1988 or any similar state statute or regulation. 

(e)    EXPIRATION OF TERM; NON-EXTENSION OF AGREEMENT. Upon expiration of
the Term, without further action by the Company or the Employee, no severance benefits will be payable at any time thereafter under this Agreement and treatment of any outstanding long-term incentive awards will be governed by the terms of the
applicable award agreements and plans as they are during the Term pursuant to Section 8(h) hereof. 

(f)    TERMINATION ON OR AFTER A CHANGE IN CONTROL. Without regard for any expiration of the Term following a
Change in Control (and for which purposes, the following terms defined above shall survive accordingly), if the Employee’s employment is terminated on or within twenty-four (24) months following a Change in Control, other than (x) by
the Company for Cause, (y) by reason of death or Disability or (z) by the Employee without Good Reason, then in lieu of any payments under Section 8(d), the Company shall pay the Employee the amounts and provide the Employee with the
following: 
 (i)    The Accrued Benefits. 

  
 7 

 (ii)    Subject to the Employee’s continued compliance with the
obligations in Sections 9 and 10 hereof, in lieu of any further salary payment to the Employee for any period after the termination, a lump sum severance payment, in cash, equal to two times (2x) the sum of: (1) the Employee’s Base Salary
as in effect immediately prior to the termination or, if higher, in effect immediately prior to the first occurrence of an event or circumstance constituting Good Reason, and (2) the Employee’s Target Bonus in respect of the fiscal year in
which occurs the termination or, if higher, the fiscal year in which occurs the first event or circumstance constituting Good Reason, such lump sum severance payment to be paid on the sixtieth
(60th) day following the Employee’s date of termination, provided that that the release provided in Section 9 has become irrevocable prior to such date and except as otherwise provided
in Section 25(b). 
 (iii)    Subject to the limitations specified below in this Section 8(f)(iii), for the
eighteen (18) month period immediately following the date of termination, the Company shall arrange to provide the Employee and his dependents life, accident and health insurance benefits substantially similar to those provided to the Employee
and his dependents immediately prior to the date of termination or, if more favorable to the Employee, those provided to the Employee and his dependents immediately prior to the first occurrence of an event or circumstance constituting Good Reason.
The Company will provide these life and accident insurance benefits at no greater cost to the Employee than the cost to the Employee immediately prior to the date or occurrence specified in the first sentence of this Section 8(f)(iii). The
Company will either pay directly, or reimburse the Employee for, the entire cost otherwise payable by the Employee for these health insurance benefits. Unless the Employee consents to a different method (after taking into account the effect of such
method on the calculation of “parachute payments” pursuant to Section 8(g) hereof), such life, accident and health insurance benefits shall be provided through a third-party insurer and the premiums for that insurance (to the extent
paid directly by the Company or reimbursed by the Company to the Employee) will be included in the Employee’s income for tax purposes to the extent required by applicable law. The Company may withhold from any such direct payment or
reimbursement an amount sufficient to cover the amount of required withholding. Benefits otherwise receivable by the Employee pursuant to this Section 8(f)(iii) shall be reduced to the extent benefits of the same type are received by or made
available to the Employee by another employer during the eighteen (18)-month period following the Employee’s termination of employment (and any such benefits received by or made available to the Employee shall be reported to the Company by the
Employee); provided, however, that the Company shall reimburse the Employee for the excess, if any, of the cost of such benefits to the Employee over such cost immediately prior to the date of termination or, if more favorable to the Employee, the
first occurrence of an event or circumstance constituting Good Reason. Notwithstanding anything in this Section 8(f)(iii) to the contrary, with respect to the first six (6) months following the Employee’s termination of employment, if
the premiums payable by the Company for group term life insurance on the Employee’s life exceeds the amount of the “limited payments” exemption set forth in Section 1.409A-1(b)(9)(v)(B) of
the Income Tax Regulations (or any successor provision thereto), then, to the extent required in order to comply with Internal Revenue Code (“Code”) Section 409A, the Employee, in advance, shall pay to the Company an amount
equal to the premiums for any such life insurance policy, other than with respect to life insurance coverage to which the Employee would be entitled independent of this Agreement. Promptly following the end of such six (6)-month period, the Company
will make a cash payment to the Employee equal to the difference between the aggregate amount paid by the Employee for such coverage and the amount that the Employee would have paid for such life insurance coverage if such cost had been determined
pursuant to this Section 8(f)(iii) other than the preceding sentence. 

  
 8 

 (iv)    Without duplication of any amount payable to the Employee under the
terms of the applicable incentive plan, the Company shall pay to the Employee, on the first day of the seventh month following the month in which occurs the Employee’s date of termination, a lump sum amount, in cash, equal to the sum of
(i) the Prior Bonuses, and (ii) a pro rata portion of the annual bonus awarded to the Employee for the fiscal year in which the date of termination occurs, calculated by multiplying the award that the Employee would have earned on the last
day of the fiscal year, assuming the achievement, at the target level, of the individual and corporate performance goals established with respect to the annual bonus, by the fraction obtained by dividing the number of days during such fiscal year
through the date of the Employee’s termination of employment by 365. Notwithstanding the foregoing, if and to the extent the Employee had elected to defer receipt of any of the Prior Bonuses, and if the Employee’s deferral election is
irrevocable as of the date of termination for purposes of Code Section 409A, the amount calculated above shall be credited to the Employee’s account under the applicable deferred compensation plan in lieu of being distributed directly to
the Employee. 
 (v)    The benefits then accrued by or payable to the Employee under the Company’s 2010
Supplemental Executive Retirement Plan and Savings Parity Plan or any successor to any such plans, and the benefits then accrued by or payable to the Employee under any other nonqualified plan providing supplemental retirement or deferred
compensation benefits shall become fully vested as of the date of termination notwithstanding any eligibility conditions that would otherwise apply with respect to such benefits and the benefit, as so vested, will be paid in accordance with the
terms of the applicable plan or program. 
 (vi)    The Company shall reimburse the Employee for expenses incurred for
outplacement services suitable to the Employee’s position for a period of twelve (12) months following the Employees termination of employment (or, if earlier, until the first acceptance by the Employee of an offer of employment) in an
amount not exceeding $50,000. 
 (vii)    Change in Control Definitions. 

(1)    “Beneficial Owner” shall have the meaning set forth in Rule
13d-3 under the Exchange Act. 
 (2)    “Change in Control”
shall be deemed to have occurred if the event set forth in any one of the following paragraphs shall have occurred: 

(A)    any Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company (not including
in the securities beneficially owned by such Person any securities acquired directly from the Company or its affiliates) representing more than 40% of the combined voting power of the Company’s then outstanding securities, excluding any Person
who becomes such a Beneficial Owner in connection with a transaction described in clause (a) of paragraph (C) below; 

  
 9 

 (B)    within any twelve month period, the following individuals cease for
any reason to constitute a majority of the number of directors then serving: individuals who, at the beginning of the twelve month period, constitute the Board and any new director (other than a director whose initial assumption of office is in
connection with an actual or threatened election contest, including but not limited to a consent solicitation, relating to the election of directors of the Company) whose appointment or election by the Board or nomination for election by the
Company’s shareholders was approved or recommended by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the twelve month period or whose
appointment, election or nomination for election was previously so approved or recommended (for these purposes, (x) a threatened election contest will be deemed to have occurred only if any person or entity publicly announces a bona fide
intention to engage in an election contest, including but not limited to a consent solicitation, relating to the election of directors of the Company, and (y) a withhold vote campaign with respect to any director will not by itself constitute
an actual or threatened election contest); 
 (C)    there is consummated a merger or consolidation of the Company or
any direct or indirect subsidiary of the Company with any other corporation, other than (a) a merger or consolidation which results in the directors of the Company immediately prior to such merger or consolidation continuing to constitute at
least a majority of the Board, the surviving entity or any parent thereof or (b) a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no Person is or becomes the Beneficial Owner,
directly or indirectly, of securities of the Company (not including in the securities Beneficially Owned by such Person any securities acquired directly from the Company or its affiliates) representing 40% or more of the combined voting power of the
Company’s then outstanding securities; 
 (D)    the shareholders of the Company approve a plan of complete
liquidation or dissolution of the Company or there is consummated a transaction for the sale or disposition by the Company of more than 50% of the Company’s assets, other than a sale or disposition by the Company of more than 50% of the
Company’s assets to an entity, at least 50% of the combined voting power of the voting securities of which are owned by shareholders of the Company in substantially the same proportions as their ownership of the Company immediately prior to
such sale; or 
 (E)    any other event that the Board, in its sole discretion, determines to be a Change in Control.

 Notwithstanding the foregoing, a “Change in Control” shall not be deemed to have occurred by virtue of the consummation of any
transaction or series of integrated transactions immediately following which the record holders of the common stock of the Company immediately prior to such transaction or series of transactions continue to have substantially the same proportionate
ownership in an entity which owns all or substantially all of the assets of the Company immediately following such transaction or series of transactions. 

For purposes of this Agreement, the Employee’s employment shall be deemed to have been terminated following a Change in Control by the
Company without Cause or by the Executive with Good Reason, if (x) the Employee employment is terminated by the Company 

  
 10 

 
without Cause prior to a Change in Control (whether or not a Change in Control ever occurs) and such termination was at the request or direction of a Person who has indicated an intention or
taken steps reasonably calculated to effect a Change in Control, or (y) the Employee terminates his employment for Good Reason prior to a Change in Control (whether or not a Change in Control ever occurs) and the circumstance or event which
constitutes Good Reason occurs at the request or direction of such Person. 
 (3)    “Exchange Act”
shall mean the Securities Exchange Act of 1934, as amended from time to time. 
 Payments and benefits provided in this Section 8(f)
shall be in lieu of any termination or severance payments or benefits for which the Employee may be eligible under any of the plans, policies or programs of the Company or under the Worker Adjustment Retraining Notification Act of 1988 or any
similar state statute or regulation. 
 (g)    INTERNAL REVENUE CODE SECTION 280G. Notwithstanding any other
provisions of this Agreement, in the event that any payment or benefit received or to be received by the Employee in connection with a Change in Control or the termination of the Employee’s employment (whether pursuant to the terms of this
Agreement or any other plan, arrangement or agreement with the Company, any Person whose actions result in a Change in Control or any Person affiliated with the Company or such Person) (all such payments and benefits being hereinafter called
“Total Payments”) would be subject (in whole or part), to any excise tax imposed under Code Section 4999 (the “Excise Tax”), the Total Payments shall be reduced to the extent necessary so that no portion of the
Total Payments is subject to the Excise Tax but only if (y) the net amount of such Total Payments, as so reduced (and after subtracting the net amount of federal, state and local income taxes on such reduced Total Payments) is greater than or
equal to (z) the net amount of such Total Payments without such reduction (but after subtracting the net amount of federal, state and local income taxes on such Total Payments and the amount of Excise Tax to which the Employee would be subject
in respect of such unreduced Total Payments). 
 (i)    The reduction of Total Payments under this Section 8(g), if
applicable, shall be made by first reducing any Total Payments due under Section 8(f)(ii) hereof, and then any Total Payments due under Section 8(f)(iv) hereof, and then any Total Payments due under Section 8(f)(vi) hereof, and then
any other Total Payments due in the following order: (1) reduction of cash Total Payments, (2) cancellation of accelerated vesting of performance-based equity awards (based on the reverse order of the date of grant), (3) cancellation
of accelerated vesting of other equity awards (based on the reverse order of the date of grant) and (4) reduction of any other Total Payments due to the Employee (with benefits or payments in any group having different payment terms being
reduced on a pro-rata basis). 
 (ii)    For purposes of determining whether and
the extent to which the Total Payments will be subject to the Excise Tax, (1) no portion of the Total Payments the receipt or enjoyment of which the Employee shall have waived at such time and in such manner as not to constitute a
“payment” within the meaning of Code Section 280G(b) shall be taken into account, (2) no portion of the Total Payments shall be taken into account which, in the opinion of tax counsel (“Tax Counsel”) reasonably
acceptable to the Employee and selected by the accounting 

  
 11 

 
firm (the “Auditor”) which was, immediately prior to the Change in Control, the Company’s independent auditor (A) does not constitute a “parachute payment”
within the meaning of Code Section 280G(b)(2) (including by reason of Code Section 280G(b)(4)(A) ) or (B) constitutes reasonable compensation for services actually rendered, within the meaning of Code Section 280G(b)(4)(B), in
excess of the “base amount” within the meaning of Code Section 280G(b)(3) allocable to such reasonable compensation, and (iii) the value of any non-cash benefit or any deferred payment or
benefit included in the Total Payments shall be determined by the Auditor in accordance with the principles of Code Sections 280G(d)(3) and (4). 

(iii)    At the time that payments are made under this Agreement, the Company shall provide the Employee with a written
statement setting forth the manner in which such payments were calculated and the basis for such calculations including, without limitation, any opinions or other advice the Company has received from Tax Counsel, the Auditor or other advisors or
consultants (and any such opinions or advice which are in writing shall be attached to the statement). 

(h)    LONG-TERM INCENTIVE AWARDS. Except as otherwise set forth in this Agreement, the provisions of the
applicable Company long-term and equity (or equity-based) award agreements and plans will govern the treatment of all other equity (or equity-based) awards held by the Employee. 

(i)    OTHER OBLIGATIONS. Upon any termination of the Employee’s employment with the Company, the Employee
shall promptly resign, effective as of the date of the Employee’s termination, from any position as an officer, director or fiduciary of the Company and of any Company-related entity. Any and all amounts payable and benefits or additional
rights provided pursuant to Section 8 beyond the Accrued Benefits shall only be payable if the Employee satisfies the Employee’s obligations under this Section 8(i). 

(j)    EXCLUSIVE REMEDY. The amounts payable to the Employee following termination of employment hereunder pursuant
to Sections 7 and 8 hereof shall be in full and complete satisfaction of the Employee’s rights under this Agreement and all other claims that the Employee may have in respect of the Employee’s employment with the Company or any of its
affiliates, and the Employee acknowledges that such amounts are fair and reasonable, and are the Employee’s sole and exclusive remedy, in lieu of all other remedies at law or in equity, with respect to the termination of the Employee’s
employment hereunder or any breach of this Agreement. 
 9.    RELEASE; NO MITIGATION. Any and all amounts payable and
benefits or additional rights provided pursuant to this Agreement beyond the Accrued Benefits shall only be payable if the Employee delivers to the Company and does not revoke a general release of claims in favor of the Company substantially in the
form of Exhibit A hereto. Such release shall be executed and delivered (and no longer subject to revocation, if applicable) within sixty (60) days following termination. In no event shall the Employee be obligated to seek other employment
or take any other action by way of mitigation of the amounts payable to the Employee under any of the provisions of this Agreement, nor shall the amount of any payment hereunder be reduced by any compensation earned by the Employee as a result of
employment by a subsequent employer, except as provided in Sections 8(d)(iii) and 8(f)(iii) hereof. 

  
 12 

 10.    RESTRICTIVE COVENANTS. 

(a)    CONFIDENTIALITY. During the course of the Employee’s employment with the Company, the Employee will
learn confidential information on behalf of the Company. The Employee agrees that the Employee shall not, directly or indirectly, use, make available, sell, disclose or otherwise communicate to any person, other than in the course of the
Employee’s assigned duties and for the benefit of the Company, either during the period of the Employee’s employment or at any time thereafter, any business and technical information or trade secrets, nonpublic, proprietary or confidential
information, knowledge or data relating to the Company, any of its subsidiaries, affiliated companies or businesses, or received from third parties subject to a duty on the Company’s and its subsidiaries’ and affiliates’ part to
maintain the confidentiality of such information and to use it only for certain limited purposes, in each case which shall have been obtained by the Employee during the Employee’s employment by the Company (or any predecessor). The foregoing
shall not apply to information that (i) was known to the public prior to its disclosure to the Employee, (ii) becomes generally known to the public subsequent to disclosure to the Employee through no wrongful act of the Employee or any
representative of the Employee, or (iii) the Employee is required to disclose by applicable law, regulation or legal process (provided that the Employee provides the Company with prior notice of the contemplated disclosure and cooperates with
the Company at its expense in seeking a protective order or other appropriate protection of such information). 
 The U.S. Defend Trade
Secrets Act of 2016 (“DTSA”) provides that an individual shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that (A) is made in confidence to a
federal, state or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a
lawsuit or other proceeding, if such filing is made under seal. In addition, the DTSA provides that an individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the
attorney of the individual and use the trade secret information in the court proceeding, if the individual files any document containing the trade secret under seal and does not disclose the trade secret, except pursuant to court order. 

(b)    INTELLECTUAL PROPERTY RIGHTS. The results and proceeds of the Employee’s employment with the Company,
including, without limitation, any works of authorship resulting from the Employee’s services to the Company at any time and any works in progress, shall be works-made-for hire, and the Company shall be
deemed the sole owner throughout the universe of any and all rights of whatsoever nature therein, whether or not now or hereafter known, existing, contemplated, recognized or developed, with the right to use the same in perpetuity in any manner the
Company determines in its sole discretion without any further payment to the Employee whatsoever. If, for any reason, any of such results and proceeds will not legally be a
work-for-hire and/or there are any rights which do not accrue to the Company under the preceding sentence, then the Employee hereby irrevocably assigns and agrees to
assign any and all of the Employee’s rights, titles and interests thereto, including, without limitation, any and all copyrights, patents, trade secrets, trademarks and/or other rights of whatsoever nature therein, whether or not now or
hereafter known, existing, contemplated, recognized or developed, to the Company, and the Company shall have the right to use the same in perpetuity 

  
 13 

 
throughout the universe in any manner the Company determines without any further payment to the Employee whatsoever. The Employee shall, from time to time, as may be requested by the Company, do
any and all things which the Company may deem useful or desirable to establish or document the Company’s exclusive ownership of any and all rights in any such results and proceeds, including, without limitation, the execution of appropriate
copyright and/or patent applications or assignments. To the extent the Employee has any rights in the results and proceeds of the Employee’s services that cannot be assigned in the manner described above, the Employee unconditionally and
irrevocably waives the enforcement of such rights. This Section 10(b) is subject to and will not be deemed to limit, restrict or constitute any waiver by the Company of any rights of ownership to which the Company may be entitled by operation
of law by virtue of the Company being the Employee’s employer. Upon the Company’s request, the Employee shall enter into such other confidentiality or proprietary information and invention assignment agreement as the Company may determine
appropriate. 
 (c)    NON-COMPETITION. The Employee acknowledges that
the Employee performs services of a unique nature for the Company that are irreplaceable, and that the Employee’s performance of such services to a competing business will result in irreparable harm to the Company. Accordingly, during the
Employee’s employment hereunder and for a period of eighteen (18) months thereafter, the Employee agrees that the Employee will not, directly or indirectly, own, manage, operate, control, be employed by (whether as an employee, consultant,
independent contractor or otherwise, and whether or not for compensation) or render services to any person, firm, corporation or other entity, in whatever form, engaged in competition with the Company or any of its affiliates or in any other
material Business in which the Company or any of its affiliates is engaged on the date of termination or in which they have planned, on or prior to such date, to be engaged in on or after such date, in any locale of any country in which the Company
conducts business. For purposes of this Agreement, “Business” means the creation, development, manufacture, sale, promotion and distribution of vehicle electronics, transportation components, integrated systems and modules, electronic
technology and other products and services that the Company engages in, or is preparing to become engaged in. Notwithstanding the foregoing, nothing herein shall prohibit the Employee from being a passive owner of not more than one percent of the
equity securities of a publicly traded corporation engaged in a business that is in competition with the Company or any of its affiliates, so long as the Employee has no active participation in the business of such corporation. In addition, the
provisions of this Section 10(c) shall not be violated by the Employee commencing employment with a subsidiary, division or unit of any entity that engages in a business in competition with the Company or any of its subsidiaries or affiliates
so long as the Employee and such subsidiary, division or unit do not engage in a business in competition with the Company or any of its subsidiaries or affiliates. 

(d)    NON-SOLICITATION;
NON-INTERFERENCE. During the Employee’s employment with the Company and for a period of eighteen (18) months thereafter, the Employee agrees that the Employee shall not, except in the furtherance
of the Employee’s duties hereunder, directly or indirectly, individually or on behalf of any other person, firm, corporation or other entity, (i) solicit, aid or induce any customer of the Company or any of its affiliates to purchase goods
or services then sold by the Company or any of its affiliates from another person, firm, corporation or other entity or assist or aid any other persons or entity in identifying or soliciting any such customer, (ii) solicit, aid or induce any
employee, representative or agent of the Company or any of its affiliates to leave such employment or retention or to accept 

  
 14 

 
employment with or render services to or with any other person, firm, corporation or other entity unaffiliated with the Company, or hire or retain any such employee, representative or agent, or
take any action to materially assist or aid any other person, firm, corporation or other entity in identifying, hiring or soliciting any such employee, representative or agent, or (iii) interfere, or aid or induce any other person or entity in
interfering, with the relationship between the Company or any of its affiliates and any of their respective vendors, joint venturers or licensors. An employee, representative or agent shall be deemed covered by this Section 10(d) while so
employed or retained and for a period of six (6) months thereafter. Notwithstanding the foregoing, the provisions of this Section 10(d) shall not be violated by (A) general advertising or solicitation not specifically targeted at
Company-related persons or entities, (B) the Employee serving as a reference, upon request, for any employee of the Company or any of its subsidiaries or affiliates, or (C) actions taken by any person or entity with which the Employee is
associated if the Employee is not personally involved in any manner in the matter and has not identified such Company-related person or entity for soliciting or hiring. 

(e)    NON-DISPARAGEMENT. The Employee agrees that he will not at any time
make, publish or communicate to any person or entity or in any public forum any defamatory or disparaging remarks, comments or statements concerning the Company or its businesses, or any of its employees, officers, members of its Board, and existing
and prospective customers, suppliers, investors and other associated third parties. The Company agrees that the Company will not at any time through any public statement make, publish or communicate to any person or entity or in any public forum any
defamatory or disparaging remarks, comments or statements concerning the Employee or his businesses. The obligation set forth in this Subsection (e) does not, in any way, restrict or impede the Employee or the Company (including its members of
the Board and executive officers) from exercising protected rights to the extent that such rights cannot be waived by agreement or from complying with any applicable law or regulation or a valid order of a court of competent jurisdiction or an
authorized government agency, provided that such compliance does not exceed that required by the law, regulation or order. The Employee shall promptly provide written notice of any such order, applicable to him, to the Board and to the
Company’s General Counsel. 
 Notwithstanding anything to the contrary in this Agreement, nothing in this Agreement shall prevent the
Employee from providing, without prior notice to the Company, information to governmental authorities regarding possible legal violations or otherwise testifying or participating in any investigation or proceeding by any governmental authorities
regarding possible legal violations. The Employee understands and agrees that the Employee is waiving the right to any monetary recovery in connection with any complaint or charge that the Employee may file with an administrative agency pursuant to
the immediately preceding sentence, except with respect to any monetary recovery under the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Sarbanes-Oxley Act of 2002. 

(f)    COOPERATION. The parties agree that certain matters in which the Employee will be involved during the Term
may necessitate the Employee’s cooperation in the future. Accordingly, following the termination of the Employee’s employment for any reason, to the extent reasonably requested by the Board, the Employee shall cooperate with the Company in
connection with matters arising out of the Employee’s service to the Company; provided that, the Company shall make reasonable efforts to minimize disruption of the Employee’s other 

  
 15 

 
activities. The Company shall reimburse the Employee for reasonable expenses incurred in connection with such cooperation and, to the extent that the Employee is required to spend substantial
time on such matters, the Company shall compensate the Employee at an hourly rate based on the Employee’s highest level of Base Salary during the Term. 

(g)    RETURN OF COMPANY PROPERTY. On the date of the Employee’s termination of employment with the Company
for any reason (or at any time prior thereto at the Company’s request), the Employee shall return all property belonging to the Company or its affiliates (including, but not limited to, any Company-provided laptops, computers, cell phones,
wireless electronic mail devices or other equipment, or documents and property belonging to the Company). The Employee may retain the Employee’s rolodex and similar address books; provided, however that such items only include only contact
information and/or personal information not belonging to the Company. 
 (h)    REASONABLENESS OF COVENANTS. In
signing this Agreement, the Employee gives the Company assurance that the Employee has carefully read and considered all of the terms and conditions of this Agreement, including the restraints imposed under this Section 10. The Employee agrees
that these restraints are necessary for the reasonable and proper protection of the Company and its affiliates and their trade secrets and confidential information and that each and every one of the restraints is reasonable in respect of subject
matter, length of time and geographic area, and that these restraints, individually or in the aggregate, will not prevent the Employee from obtaining other suitable employment during the period in which the Employee is bound by the restraints. The
Employee further agrees that that the Company would suffer irreparable harm if the Employee fails to comply with the restraints imposed under this Section 10, and that the Company would be entitled to any appropriate relief, including monetary
damages, equitable relief and attorneys’ fees. The Employee acknowledges that each of these covenants has a unique, very substantial and immeasurable value to the Company and its affiliates and that the Employee has sufficient assets and skills
to provide a livelihood while such covenants remain in force. The Employee further covenants that the Employee will not challenge the reasonableness or enforceability of any of the covenants set forth in this Section 10. It is also agreed that
each of the Company’s affiliates will have the right to enforce all of the Employee’s obligations to that affiliate under this Agreement, including without limitation pursuant to this Section 10. 

(i)    REFORMATION. If it is determined by a court of competent jurisdiction in any state that any restriction in
this Section 10 is excessive in duration or scope or is unreasonable or unenforceable under applicable law, it is the intention of the parties that such restriction may be modified or amended by the court to render it enforceable to the maximum
extent permitted by the laws of that state. 
 (j)    TOLLING. In the event of any violation of the provisions of
this Section 10, the Employee acknowledges and agrees that the post-termination restrictions contained in this Section 10 shall be extended by a period of time equal to the period of such violation, it being the intention of the parties
hereto that the running of the applicable post-termination restriction period shall be tolled during any period of such violation. 

  
 16 

 (k)    SURVIVAL OF PROVISIONS. The obligations contained in
Section 8 (and provisions of Section 7 related thereto), Section 9, this Section 10, Section 11, Section 13, Section 20 and Section 21 shall survive the termination of Employee’s employment with the
Company and, respecting Sections 9, 10, 11, 13, 20 and 21 only, the expiration of the Term, and shall be fully enforceable thereafter. 

11.    EQUITABLE RELIEF AND OTHER REMEDIES. The Employee acknowledges and agrees that the Company’s remedies at law for
a breach or threatened breach of any of the provisions of Section 10 hereof would be inadequate and, in recognition of this fact, the Employee agrees that, in the event of such a breach or threatened breach, in addition to any remedies at law,
the Company shall be entitled to obtain equitable relief in the form of specific performance, a temporary restraining order, a temporary or permanent injunction or any other equitable remedy which may then be available, without the necessity of
showing actual monetary damages or the posting of a bond or other security. 
 12.    STOCK OWNERSHIP GUIDELINES. The
Employee acknowledges and agrees that he will be subject to the Company’s stock ownership guidelines for the Chief Executive Officer of the Company, as those guidelines may be amended from time to time. 

13.    CLAWBACK. Notwithstanding anything herein to the contrary, the Employee may be required to forfeit or repay any or
all compensation received by the Employee under this Agreement pursuant to the terms of any compensation recovery or clawback policy that has been or may be adopted by or applicable to the Company, including without limitation any clawback or
recovery policy implemented under the Dodd-Frank Wall Street Reform and Consumer Protection Act. 
 14.    NO ASSIGNMENTS.
This Agreement is personal to each of the parties hereto. Except as provided in this Section 14 hereof, no party may assign or delegate any rights or obligations hereunder without first obtaining the written consent of the other party hereto.
The Company may assign this Agreement to any successor to all or substantially all of the business and/or assets of the Company, provided that the Company shall require such successor to expressly assume and agree to perform this Agreement in the
same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. As used in this Agreement, “Company” shall mean the Company and any successor to its business and/or assets, which
assumes and agrees to perform the duties and obligations of the Company under this Agreement by operation of law or otherwise. 

15.    NOTICE. For purposes of this Agreement, notices and all other communications provided for in this Agreement shall be
in writing and shall be deemed to have been duly given (a) on the date of delivery, if delivered by hand, (b) on the date of transmission, if delivered by confirmed facsimile or electronic mail, (c) on the first business day following
the date of deposit, if delivered by guaranteed overnight delivery service, or (d) on the fourth business day following the date delivered or mailed by United States registered or certified mail, return receipt requested, postage prepaid,
addressed as follows: 
 If to the Employee, at the address (or to the facsimile number) shown in the books and records of the Company; 

  
 17 

 If to the Company, Visteon Corporation, One Village Center Drive, Van Buren Township, Michigan
48111 Attention: General Counsel; 
 or to such other address as either party may have furnished to the other in writing in accordance herewith, except that
notices of change of address shall be effective only upon receipt. 
 16.    SECTION HEADINGS; INCONSISTENCY. The section
headings used in this Agreement are included solely for convenience and shall not affect, or be used in connection with, the interpretation of this Agreement. In the event of any inconsistency between the terms of this Agreement and any form, award,
plan or policy of the Company, the terms of this Agreement shall govern and control. 
 17.    SEVERABILITY. The
provisions of this Agreement shall be deemed severable and the invalidity or unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof. 

18.    COUNTERPARTS. This Agreement may be executed in several counterparts, each of which shall be deemed to be an original
but all of which together will constitute one and the same instrument. 
 19.    ARBITRATION. Any dispute or controversy
arising under or in connection with this Agreement or the Employee’s employment with the Company, other than injunctive relief under Section 11 hereof, shall be settled exclusively by arbitration, conducted before three neutral arbitrators
in accordance with the National Rules for the Resolution of Employment Disputes of the American Arbitration Association (“AAA”) then in effect and pursuant to the Federal Arbitration Act. The decision of the arbitrators will be
final and binding upon the parties hereto, except the parties hereby adopt and agree to implement the AAA Optional Appellate Arbitration Rules (“Appellate Rules”) with respect to any arbitration award. Any final decision of the
arbitrators or any arbitration panel under the Appellate Rules or other applicable AAA appeal procedure may be reviewed, modified, confirmed, or vacated by any federal court having jurisdiction in accordance with applicable law. The parties
acknowledge and agree that in connection with any such arbitration and regardless of outcome, (a) each party shall pay all of its own costs and expenses, including, without limitation, its own legal fees and expenses, and (b) the
arbitration costs shall be borne entirely by the Company.  
 20.    INDEMNIFICATION. The Company hereby agrees to
indemnify the Employee and hold the Employee harmless to the maximum extent provided under the charter and by-laws of the Company and applicable law against and in respect of any and all actions, suits,
proceedings, claims, demands, judgments, costs, expenses (including reasonable attorney’s fees), losses, and damages resulting from the Employee’s good faith performance of the Employee’s duties and obligations with the Company
(including good faith acts and good faith omissions to act). This obligation shall survive the expiration of the Term and any termination of the Employee’s employment with the Company. 

21.    LIABILITY INSURANCE. The Company shall cover the Employee under directors’ and officers’ liability
insurance both during and, while potential liability exists, after the termination of the Employee’s employment in the same amount and to the same extent as the greater (if differing) of the Company’s coverage of its other officers and
directors. This obligation shall survive the expiration of the Term and any termination of the Employee’s employment with the Company. 

  
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 22.    GOVERNING LAW. This Agreement, the rights and obligations of the parties
hereto, and all claims or disputes relating thereto, shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to the choice of law provisions thereof. 

23.    MISCELLANEOUS. No provision of this Agreement may be modified, waived or discharged unless such waiver, modification
or discharge is agreed to in writing and signed by the Employee and such officer or director as may be designated by the Board. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any
condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. Except as otherwise expressly referenced herein,
this Agreement together with all exhibits hereto (if any) sets forth the entire agreement of the parties hereto in respect of the subject matter contained herein and supersedes any and all prior agreements or understandings between the Employee and
the Company with respect to the subject matter hereof. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not expressly set forth in this
Agreement. 
 24.    REPRESENTATIONS. The Employee represents and warrants to the Company that (a) the Employee has
the legal right to enter into this Agreement and to perform all of the obligations on the Employee’s part to be performed hereunder in accordance with its terms, (b) the Employee will not retain any copies of confidential or proprietary
information of the Employee’s prior employer; (c) the Employee will not use or disclose any confidential or proprietary information of the Employee’s prior employer during the course of the Employee’s employment with the Company,
(d) the Employee will follow any protocols established by the Company to prevent the inadvertent use or disclosure of confidential or proprietary information of the Employee’s prior employer and (e) the Employee is not a party to any
agreement or understanding, written or oral, and is not subject to any restriction, which, in either case, could prevent the Employee from entering into this Agreement or performing all of the Employee’s duties and obligations hereunder. The
Company represents and warrants to the Employee that (a) the Company has the legal right to enter into this Agreement and to perform all of the obligations on the Company’s part to be performed hereunder in accordance with its terms, and
(b) the Company is not a party to any agreement or understanding, written or oral, and is not subject to any restriction, which, in either case, could prevent the Company from entering into this Agreement or performing all of the Company’s
duties and obligations hereunder. 
 25.    TAX MATTERS. 

(a)    WITHHOLDING. The Company may withhold from any and all amounts payable under this Agreement or otherwise
such federal, state and local taxes as may be required to be withheld pursuant to any applicable law or regulation. 

(b)    SECTION 409A COMPLIANCE. 

  
 19 

 (i)    The intent of the parties is that payments and benefits under this
Agreement comply with Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be
interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order to comply with Section 409A, such modification shall be made in good faith and shall, to the maximum extent reasonably possible, maintain
the original intent and economic benefit to the Employee and the Company of the applicable provision without violating the provisions of Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or
penalty that may be imposed on the Employee by Section 409A or for damages for failing to comply with Section 409A. 

(ii)    A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement
providing for the payment of any amount or benefit upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Section 409A and, for purposes of any such provision of
this Agreement, references to a “termination,” “termination of employment” or like terms shall mean “separation from service.” If any payment to the Employee is conditioned upon the Employee’s providing a release
of claims pursuant to Section 9, which payment is considered “nonqualified deferred compensation” under Section 409A, and which may be paid in either of two (2) taxable years of the Employee depending on the date such
release of claims becomes irrevocable, such payment shall be made on the later of January 8 of the later such taxable year or the day after the date such release of claims becomes irrevocable. Notwithstanding any other payment schedule provided
herein to the contrary (including, without limitation, under Sections 8(d) and 8(f)), if the Employee is deemed on the date of termination to be a “specified employee” within the meaning of that term under Section 409A(a)(2)(B), then
with regard to any payment or the provision of any benefit that is considered “nonqualified deferred compensation” under Section 409A payable on account of a “separation from service,” that would, but for this sentence, be
paid or provided before the expiration of the six (6)-month period measured from the date of the Employee’s “separation from service,” such payment or benefit shall be made on the date which is the earlier of (A) the expiration
of the six (6)-month period measured from the date of the Employee’s “separation from service,” and (B) the date of the Employee’s death, to the extent required under Section 409A. Upon the expiration of the foregoing
delay period, all payments and benefits delayed pursuant to this Section (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed to the Employee in a lump sum, and
all remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. 

(iii)    To the extent that reimbursements or other in-kind benefits under this
Agreement constitute “nonqualified deferred compensation” for purposes of Section 409A, (A) all expenses or other reimbursements hereunder shall be made on or prior to the last day of the taxable year following the taxable year
in which such expenses were incurred by the Employee, (B) any right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, and (C) no such
reimbursement, expenses eligible for reimbursement, or in-kind benefits provided in any taxable year shall in any way affect the expenses eligible for reimbursement, or
in-kind benefits to be provided, in any other taxable year. 

  
 20 

 (iv)    For purposes of Section 409A, the Employee’s right to
receive installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies a payment period with reference to a number of days, the
actual date of payment within the specified period shall be within the sole discretion of the Company. 

(v)    Notwithstanding any other provision of this Agreement to the contrary, in no event shall any payment or benefit
under this Agreement that constitutes “nonqualified deferred compensation” for purposes of Section 409A be subject to offset by any other amount unless otherwise permitted by Section 409A. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 21 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written
above. 
  

			
	COMPANY
		
	By:	 	/s/Francis M. Scricco
		 	Francis M. Scricco
		 	 Chairman of the Board of Directors

	
	EMPLOYEE
		
	By:	 	/s/Sachin Lawande
		 	Sachin Lawande
		
		 	 Employment Agreement Signature Page

  
 22 

 EXHIBIT A 

GENERAL RELEASE 
 I, Sachin Lawande, in
consideration of and subject to the performance by Visteon Corporation (together with its subsidiaries, the “Company”), of its obligations under Section 8 of the Amended and Restated Employment Agreement, dated as of
February 12, 2018 (the “Agreement”), do hereby release and forever discharge as of the date hereof the Company and its respective affiliates and subsidiaries and all present, former and future directors, officers, agents,
representatives, employees, successors and assigns of the Company and/or its respective affiliates and subsidiaries and direct or indirect owners (collectively, the “Released Parties”) to the extent provided herein (this
“General Release”). Terms used herein but not otherwise defined shall have the meanings given to them in the Agreement. 

1.    I understand that any payments or benefits paid or granted to me under Section 8 of the Agreement represent, in part,
consideration for signing this General Release and are not salary, wages or benefits to which I was already entitled. I understand and agree that I will not receive the payments and benefits specified in Section 8 of the Agreement unless I
execute this General Release and do not revoke this General Release within the time period permitted hereafter or breach this General Release. Such payments and benefits will not be considered compensation for purposes of any employee benefit plan,
program, policy or arrangement maintained or hereafter established by the Company or its affiliates. 
 2.    Except as provided in
paragraph 4 below and except for the provisions of the Agreement which expressly survive the termination of my employment with the Company, I knowingly and voluntarily (for myself, my heirs, executors, administrators and assigns) release and forever
discharge the Company and the other Released Parties from any and all claims, suits, controversies, actions, causes of action, cross-claims, counter-claims, demands, debts, compensatory damages, liquidated damages, punitive or exemplary damages,
other damages, claims for costs and attorneys’ fees, or liabilities of any nature whatsoever in law and in equity, both past and present (through the date that this General Release becomes effective and enforceable) and whether known or
unknown, suspected, or claimed against the Company and/or any of the Released Parties which I, my spouse, or any of my heirs, executors, administrators or assigns, ever had, now have, or hereafter may have, by reason of any matter, cause, or thing
whatsoever, from the beginning of my initial dealings with the Company to the date of this General Release, and particularly, but without limitation of the foregoing general terms, any claims arising from or relating in any way to my employment
relationship with Company, the terms and conditions of that employment relationship, and the termination of that employment relationship (including, but not limited to, any allegation, claim or violation, arising under: Title VII of the Civil Rights
Act of 1964, as amended; the Civil Rights Act of 1991; the Age Discrimination in Employment Act of 1967, as amended (including the Older Workers Benefit Protection Act); the Equal Pay Act of 1963, as amended; the Americans with Disabilities Act of
1990; the Family and Medical Leave Act of 1993; the Worker Adjustment Retraining and Notification Act; the Employee Retirement Income Security Act of 1974; any applicable Executive Order Programs; the Fair Labor Standards Act; or their state or
local counterparts; or under any other federal, state or local civil or human rights law, or under any other local, state, or federal law, regulation or ordinance; or under any public policy, contract or tort, or under

  
 23 

 
common law; or arising under any policies, practices or procedures of the Company; or any claim for wrongful discharge, breach of contract, infliction of emotional distress, defamation; or any
claim for costs, fees, or other expenses, including attorneys’ fees incurred in these matters) (all of the foregoing collectively referred to herein as the “Claims”). 

3.    I represent that I have made no assignment or transfer of any right, claim, demand, cause of action, or other matter covered by
paragraph 2 above. 
 4.    I agree that this General Release does not waive or release any rights or claims that I may have under the
Age Discrimination in Employment Act of 1967 which arise after the date I execute this General Release. I acknowledge and agree that my separation from employment with the Company in compliance with the terms of the Agreement shall not serve as the
basis for any claim or action (including, without limitation, any claim under the Age Discrimination in Employment Act of 1967). 

5.    I agree that I hereby waive all rights to sue or obtain equitable, remedial or punitive relief from any or all Released Parties of
any kind whatsoever, including, without limitation, reinstatement, back pay, front pay, and any form of injunctive relief. Notwithstanding the foregoing, I acknowledge that I am not waiving and am not being required to waive any right that cannot be
waived under law, including the right to file an administrative charge or participate in an administrative investigation or proceeding; provided, however, that I disclaim and waive any right to share or participate in any monetary award (other than
any monetary award under the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Sarbanes-Oxley Act of 2002) resulting from the prosecution of such charge or investigation or proceeding. 

6.    In signing this General Release, I acknowledge and intend that it shall be effective as a bar to each and every one of the Claims
hereinabove mentioned or implied. I expressly consent that this General Release shall be given full force and effect according to each and all of its express terms and provisions, including those relating to unknown and unsuspected Claims
(notwithstanding any state or local statute that expressly limits the effectiveness of a general release of unknown, unsuspected and unanticipated Claims), if any, as well as those relating to any other Claims hereinabove mentioned or implied. I
acknowledge and agree that this waiver is an essential and material term of this General Release and that without such waiver the Company would not have agreed to the terms of the Agreement. I further agree that in the event that I should bring a
Claim seeking damages against the Company, or in the event that I should seek to recover against the Company in any Claim brought by a governmental agency on my behalf, this General Release shall serve as a complete defense to such Claims to the
maximum extent permitted by law. I further agree that I am not aware of any pending claim, or of any facts that could give rise to a claim, of the type described in paragraph 2 as of the execution of this General Release. 

7.    I agree that neither this General Release, nor the furnishing of the consideration for this General Release, shall be deemed or
construed at any time to be an admission by the Company, any Released Party or myself of any improper or unlawful conduct. 

  
 24 

 8.    I agree that I will forfeit all amounts payable by the Company pursuant to the
Agreement if I challenge the validity of this General Release. I also agree that if I violate this General Release by suing the Company or the other Released Parties, I will pay all costs and expenses of defending against the suit incurred by the
Released Parties, including reasonable attorneys’ fees, and return all payments received by me pursuant to the Agreement on or after the termination of my employment. 

9.    I agree that this General Release and the Agreement are confidential and agree not to disclose any information regarding the terms
of this General Release or the Agreement, except to my immediate family and any tax, legal or other counsel that I have consulted regarding the meaning or effect hereof or as required by law, and I will instruct each of the foregoing not to disclose
the same to anyone. The Company agrees to disclose any such information only to any tax, legal or other counsel of the Company as required by law. 

10.    Any non-disclosure provision in this General Release does not prohibit or restrict me (or
my attorney) from responding to any inquiry about this General Release or its underlying facts and circumstances by the Securities and Exchange Commission, the Financial Industry Regulatory Authority, or any other self-regulatory organization or
governmental entity. 
 11.    I hereby acknowledge that Sections 8, 10, 11, 13 through 15, 17, 19 through 22 and 25 of the Agreement
shall survive my execution of this General Release. 
 12.    I represent that I am not aware of any Claim by me, and I acknowledge that
I may hereafter discover Claims or facts in addition to or different than those which I now know or believe to exist with respect to the subject matter of the release set forth in paragraph 2 above and which, if known or suspected at the time
of entering into this General Release, may have materially affected this General Release and my decision to enter into it. 

13.    Notwithstanding anything in this General Release to the contrary, this General Release shall not relinquish, diminish, or in any
way affect any right or claim arising out of any breach by the Company or by any Released Party of the Agreement after the date hereof. 

14.    Whenever possible, each provision of this General Release shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this General Release is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any
other provision or any other jurisdiction, but this General Release shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein. 

BY SIGNING THIS GENERAL RELEASE, I REPRESENT AND AGREE THAT: 

1.    I HAVE READ IT CAREFULLY; 

2.    I UNDERSTAND ALL OF ITS TERMS AND KNOW THAT I AM GIVING UP IMPORTANT RIGHTS, INCLUDING BUT NOT LIMITED TO, RIGHTS UNDER THE AGE
DISCRIMINATION IN EMPLOYMENT ACT OF 1967, AS AMENDED, TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, AS AMENDED, THE EQUAL PAY ACT OF 1963, THE AMERICANS WITH DISABILITIES ACT OF 1990, AND THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED;

  
 25 

 3.    I VOLUNTARILY CONSENT TO EVERYTHING IN IT; 

4.    I HAVE BEEN ADVISED TO CONSULT WITH AN ATTORNEY BEFORE EXECUTING IT AND I HAVE DONE SO OR, AFTER CAREFUL READING AND CONSIDERATION,
I HAVE CHOSEN NOT TO DO SO OF MY OWN VOLITION; 
 5.    I HAVE HAD AT LEAST 21 DAYS FROM THE DATE OF MY RECEIPT OF THIS RELEASE TO
CONSIDER IT AND THE CHANGES MADE SINCE MY RECEIPT OF THIS RELEASE ARE NOT MATERIAL OR WERE MADE AT MY REQUEST AND WILL NOT RESTART THE REQUIRED 21 DAY PERIOD; 

6.    I UNDERSTAND THAT I HAVE SEVEN DAYS AFTER THE EXECUTION OF THIS RELEASE TO REVOKE IT AND THAT THIS RELEASE SHALL NOT BECOME
EFFECTIVE OR ENFORCEABLE UNTIL THE REVOCATION PERIOD HAS EXPIRED; 
 7.    I HAVE SIGNED THIS GENERAL RELEASE KNOWINGLY AND VOLUNTARILY
AND WITH THE ADVICE OF ANY COUNSEL RETAINED TO ADVISE ME WITH RESPECT TO IT; AND 
 8.    I AGREE THAT THE PROVISIONS OF THIS GENERAL
RELEASE MAY NOT BE AMENDED, WAIVED, CHANGED OR MODIFIED EXCEPT BY AN INSTRUMENT IN WRITING SIGNED BY AN AUTHORIZED REPRESENTATIVE OF THE COMPANY AND BY ME. 
  

			
	SIGNED:	 	 /s/Sachin Lawande

		 	 Sachin Lawande

		
	DATE:	 	 February 12, 2018

  
 26

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