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Exhibit 10.68    
    

 
 

COUNTRYWIDE FINANCIAL CORPORATION    
    
    2006 Equity Incentive Plan    
    
    Performance-Based    
    
    Restricted Stock Unit Award Agreement    

        The Participant specified below has been granted these Restricted Stock Units ("RSUs") by  COUNTRYWIDE FINANCIAL
CORPORATION, a Delaware corporation (the "Company") under the terms of the
COUNTRYWIDE FINANCIAL CORPORATION 2006 EQUITY INCENTIVE PLAN (the "Plan"). The RSUs shall be subject to
the following terms and conditions set forth herein as well as the terms of the Plan (this Agreement and the Plan being collectively referred to as the "RSU
Terms"). 

        Section 1.    Award.    In accordance with the Plan,
the
Company hereby grants to the Participant these RSUs where each Unit represents the right to receive one share of Stock in the future. These RSUs are in all respects limited and conditioned as provided
herein. Except where the context clearly implies to the contrary, any capitalized terms in this award shall have the meaning ascribed to them in the Plan. 

        Section 2.    Terms of Award.    The following words
and
phrases relating to the grant of the RSUs shall have the following meanings: 

        (a)   The
"Participant" is [Employee Name]. 

        (b)   The
"Grant Date" is April 2, 2007. 

        (c)   The
number of "Units" is [Units]. 

        (d)   The
"Delivery Date" shall be the end of the Restricted Period, with respect to the applicable Units. 

        Section 3.    Restricted Period.    This Agreement
along with
the Statement evidences the Company's grant to the Participant as of the Grant Date, on the terms and conditions described in this Agreement and in the Plan, of RSUs, as well as the right of the
Participant to become entitled to receive Stock with respect to that portion of the Units no longer covered by a Restricted Period. Subject to the limitations of the RSU Terms, the
"Restricted Period" for the Units shall begin on the Grant Date and end as follows: (i) with respect to one-third of the Units
covered by this Agreement, on the date the Committee determines that the Company's Return on Equity ("ROE") for calendar year 2007 equals or exceeds
twelve percent (12%) (but only if the Participant has continuously remained employed by the Company from January 1, 2007 through December 30, 2007); (ii) with respect to
one-third of the Units covered by this Agreement, on the date the Committee determines that the Company's ROE for calendar year 2008 equals or exceeds twelve percent (12%) (but only if the
Participant has continuously remained employed by the Company from January 1, 2007 through December 30, 2008); and (iii) with respect to one-third of the Units covered
by this Agreement, on the date the Committee determines that the Company's ROE for calendar year 2009 equals or exceeds twelve percent (12%) (but only if the Participant has continuously remained
employed by the Company from January 1, 2007 through December 30, 2009). Upon the determination by the Committee that the Company's ROE for any calendar year referred to in
(i) through (iii) above failed to equal at least twelve percent (12%), the one-third of the Units that would have otherwise vested during such calendar year shall immediately
terminate and be forfeited; provided that such Units have not otherwise become vested in accordance with Section 3(a) below. In the event that an
acquisition, reorganization, merger, consolidation, share repurchase or other similar transaction occurs during any calendar year, or in the event any other material non-recurring or
unanticipated event occurs during any calendar year, the Committee shall adjust the ROE vesting target for such year and future years, if applicable, to preserve (but not increase) the intended
incentives and potential value of the RSU Award, provided that any such adjustment shall only be made if the Committee reasonably determines, after consultation with the 

 

Participant,
that the adjustment will not affect the deductibility of the RSU Award under Section 162(m) of the Internal Revenue Code of 1986, as amended (the
"Code"), if applicable. 

        (a)   Notwithstanding
the foregoing provisions of this Section 3, upon the earlier of the following events to occur:
(i) a Change in Control (provided the Participant's employment has not earlier terminated) or (ii) upon the Participant's Termination of Service due to the Participant's death,
Disability or Retirement, the unvested portion of the RSU Award, which has not previously been forfeited, shall immediately become 100% vested. 

        (b)   In
the event the Participant's Termination of Service other than due to death, Disability or Retirement occurs prior to the expiration of the Restricted Period, the
Participant shall forfeit all rights, title and interest in and to that portion of Units which have not vested as of the Participant's Termination of Service date. 

        Section 4.    Settlement of Units.    As soon as
administratively practicable following the end of the Restricted Period or upon immediate vesting as described in Section 3, the Company shall
deliver to the Participant one share of the Company's Stock free and clear of any restrictions in settlement of each of the unrestricted Units. 

        Notwithstanding
the foregoing provisions of Sections 3 or 4, in the event that the settlement of the Units (or the payment of any
dividend equivalents pursuant to Section 8 below) would generate taxable income to the Participant that would not be deductible to the Company
due to the application of the limitations of Code section 162(m), such delivery shall be deferred until the earlier of (i) such time as Company reasonably anticipates that the
limitations of Code section 162(m) on the Company's deduction for amounts paid to the Participant no longer apply or (ii) January 15th of the year following the year in
which the Participant's Termination of Service occurs. 

        Section 5.    Withholding.    All deliveries of Stock
pursuant
to this Agreement shall be subject to withholding of all applicable taxes. The Company shall have the right to require the Participant (or if applicable, permitted assigns, heirs or Designated
Beneficiaries) to remit to the Company an amount sufficient to satisfy any tax requirements prior to the Delivery Date of any certificate or certificates for Stock under this Agreement. At the
election of the Participant, subject to the rules and limitations as may be established by the Committee, such withholding obligations may be satisfied through the surrender of shares of Stock which
the Participant already owns, or to which Participant is otherwise entitled under the Plan. 

        Section 6.    Heirs and Successors.    The RSU Terms
shall be
binding upon, and inure to the benefit of, the Company and its successors and assigns, and upon any person acquiring, whether by merger, consolidation, purchase of assets or otherwise, all or
substantially all of the Company's assets and business. If any rights of the Participant or benefits distributable to the Participant under this Agreement have not been settled or distributed,
respectively, at the time of the Participant's Death, such rights shall be settled and payable to the Designated Beneficiary, and such benefits shall be distributed to the Designated Beneficiary, in
accordance with the provisions of the RSU Terms. The "Designated Beneficiary" shall be the beneficiary or beneficiaries designated by the Participant in
a writing filed with the Committee on the form found in HRCentral, or such other form as the Committee may require. The designation of beneficiary form may be amended or revoked from time to time by
the Participant. If a deceased Participant fails to designate a beneficiary, or if the Designated Beneficiary does not survive the Participant, any rights that would have been payable to the
Participant and shall be payable to the legal representative of the estate of the Participant. If a deceased Participant fails to designate a beneficiary, or if the Designated Beneficiary does not
survive the Participant, any rights that would have been payable to the Participant and shall be payable to the legal representative of the estate of the Participant. If a deceased Participant
designates a beneficiary and the Designated Beneficiary survives the Participant but dies before the settlement of Designated 

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Beneficiary's
rights under this Award Agreement, then any rights that would have been payable to the Designated Beneficiary shall be payable to the legal representative of the estate of the Designated
Beneficiary. 

        Section 7.    Non-Transferability of RSU.    During
the Restricted Period, the Participant shall not sell, assign, transfer, pledge, hypothecate, mortgage, encumber or dispose of any Units awarded under this Agreement. 

        Section 8.    Dividend Equivalents.    Subject to the
application of Section 4, the Participant shall be entitled to receive a payment of additional Units equal in value to any cash dividends and
property distributions paid with respect to the RSUs (other than dividends or distributions of securities of the Company which may be issued with respect to its shares by virtue of any stock split,
combination, stock dividend or recapitalization—to the extent covered in Section 2.3(d) of the Plan) that become payable during the
Restricted Period ("Dividend Equivalents"); provided, however, that no Dividend Equivalents shall be
payable to or for the benefit of the Participant with respect to record dates for such dividends or distributions occurring prior to the Grant Date, or with respect to record dates for such dividends
or distributions occurring on or after the date, if any, on which the Participant has forfeited the Units. Dividend Equivalents shall be paid at such times as the Committee shall determine in its
discretion and shall be subject to the same restrictions applicable to the underlying Units. 

        Section 9.    No Voting Rights.    The Participant
shall not be
a shareholder of record with respect to the Units during the Restricted Period and shall have no voting rights with respect to the Units during the Restricted Period. 

        Section 10.    Securities Laws.    The Participant
acknowledges
that certain restrictions under state or federal securities laws may apply with respect to the Units granted pursuant to this Award, even after they have been delivered as shares to the Participant.
Specifically, Participant acknowledges that, to the extent he or she is an "affiliate" of the Company (as that term is defined by the Securities Act of 1933), the Units granted pursuant to this Award
are subject to certain trading restrictions under applicable securities laws (including particularly the Securities and Exchange Commission's Rule 144). Participant hereby agrees to execute
such documents and take such actions as the Company may reasonably require with respect to state and federal securities laws and any restrictions on the resale of such shares which may pertain under
such laws. 

        Section 11.    Administration.    The authority to
manage and
control the operation and administration of the RSU Terms and the Plan shall be vested in the Committee, and the Committee shall have all powers with respect to the RSU Terms as it has with respect to
the Plan. Any interpretation of the RSU Terms or the Plan by the Committee and any decision made by it with respect to the RSU Terms or the Plan are final and binding on all persons. 

        Section 12.    Plan Governs.    Notwithstanding
anything in the
RSU Terms to the contrary, the RSU Terms shall be subject to the terms of the Plan, a copy of which may be obtained by the Participant from the office of the Secretary of the Company; and the RSU
Terms are subject to all interpretations, amendments, rules and regulations promulgated by the Committee from time to time pursuant to the Plan. Notwithstanding anything in the RSU Terms to the
contrary, in the event of any discrepancies between the corporate records and the Statement, the corporate records shall control. 

        Section 13.    Not An Employment Contract.    The
RSUs will not
confer on the Participant any right with respect to continuance of employment or other service with the Company or any Subsidiary, nor will it interfere in any way with any right the Company or any
Subsidiary would otherwise have to terminate or modify the terms of such Participant's employment or other service at any time. 

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        Section 14.    Amendment.    The RSU Terms may be
amended in
accordance with the provisions of the Plan, and may otherwise be amended by written agreement of the Participant and the Company without the consent of any other person. 

        Section 15.    Section 409A Amendment.    The
Committee
reserves the right (including the right to delegate such right) to unilaterally amend this Agreement without the consent of the Participant in order to maintain an exclusion from the application of,
or to maintain compliance with, Code Section 409A. Participant's acceptance of this Award constitutes acknowledgement and consent to such rights of the Committee. 

        Section 16.    Statement and Modifications.    The
RSU granted
to the Participant under the RSU Terms set forth in this Agreement shall be as reflected in the Company records and set forth in any electronic version of the Award information viewable or accessible
by the Participant (collectively, the "Statement"). The Participant hereby acknowledges and agrees that the Statement may be revised from time to time
by the Company to reflect additional grants of RSUs, exercises of RSUs and any permitted modifications to the Plan and RSUs granted thereunder. Unless the Participant provides written notice to the
Company's RSU Administrator within thirty (30) days of receipt of the Statement at the principal office of the Company in Calabasas, California, or such other addresses as may be communicated
to the Participant, the Statement (including any revisions incorporated therein) shall be binding on the Participant, without further notice to or acknowledgement by the Participant. If no notice is
received from the Participant within the thirty (30) day period, then the Participant shall be deemed to have acknowledged that the Statement is binding with respect to the information
contained therein. 

        IN WITNESS WHEREOF, the Company has caused this Agreement to be executed in its name and on its behalf, all as of the Grant Date and the
Participant hereby executes and acknowledges acceptance of the terms and conditions of this Agreement. 

	Countrywide Financial Corporation:	 	[Employee Name]:
	

/s/ Becky Bailey
Becky Bailey	
 	

    

	MD, Global Benefits and Executive Compensation	 	Date:	    

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Exhibit 10.68

COUNTRYWIDE FINANCIAL CORPORATION 2006 Equity Incentive Plan Performance-Based Restricted Stock Unit Award AgreementQuickLinks
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Exhibit 10.92    
    

 
 

AMENDMENT TWO    
    
    TO    
    
    Countrywide Financial Corporation
  Selected Employee Deferred Compensation Plan    
    

        WHEREAS, Countrywide Financial Corporation, a Delaware corporation (the "Company"), wishes to amend the Selected
Employee Deferred Compensation Plan (the "Plan") in accordance with Section 3.02 of IRS Notice 2006-79, 2006-43 I.R.B. 763 (Oct. 4, 2006), to permit certain Plan
participants to elect, by September 30, 2007, to receive a lump sum payment on or about January 2, 2008 with respect to all or a portion of their vested Plan account balances that are
attributable to amounts credited to their Plan accounts after December 31, 2004. 

        NOW THEREFORE, the Plan is amended, effective August 16, 2007, in accordance with Section 13.2 of the Plan in the following
manner: 

	1.
	Article 5
is revised by adding new Section 5.5 at the end thereof to read as follows:

	5.5
	SPECIAL
2007 ELECTION AND 2008 DISTRIBUTION OPPORTUNITY.    Notwithstanding any provision of Article 5, 6, 7, 8, 9 or 10 to the contrary, to the extent permitted by
the Committee or its designee in its sole discretion, a Participant may change his or her distribution elections with respect to any portion of his or her vested Account Balance that is attributable
to Annual Deferral Amounts, Company Contribution Amounts and Company Discretionary Match Amounts credited on behalf of the 2005, 2006 and/or 2007 Plan Years without regard to the limitations set forth
in Code Section 409A(a)(2), provided (i) the Participant delivers a properly executed superseding distribution election form in the manner prescribed by the Committee no later than
September 30, 2007, and (ii) such election does not affect payments that would otherwise be made in 2007 absent the election. The portion of any Participant's vested Account Balance that
becomes subject to this Section 5.5 shall be paid to the Participant in a lump sum on January 2, 2008 (or as soon thereafter in 2008 as is administratively practicable). The Committee or
its designee is not required to provide this opportunity to all Participants, and may limit this opportunity (in accordance with applicable law) to the Participant(s) it deems appropriate in its sole
discretion. 

<Signature
page to follow> 

 

        WHEREFORE, the Company has caused this Amendment Two to be signed by it duly authorized officer this 16th day of August 2007. 

	 	 	 	 	 	COUNTRYWIDE FINANCIAL CORPORATION
	

 	
 	

 	

 	
 	

By:	
 	

/s/ Marshall M. Gates

	 	 	 	 	 	 	 	Name:	Marshall M. Gates
	 	 	 	 	 	 	 	Title:	Senior Managing Director,

Chief Administrative Officer
	

Attest:	
 	

 	
 	

 	

 
	By:	 	/s/ Leora I. Goren
	 	 	 	 	 
	 	 	Name:	Leora I. Goren	 	 	 	 	 
	 	 	Title:	Senior Managing Director,

Chief Human Resources Officer	 	 	 	 	 

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Exhibit 10.92

AMENDMENT TWO TO Countrywide Financial Corporation Selected Employee Deferred Compensation Plan

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