Document:

EX-10.4

Exhibit 10.4

JUNIPER NETWORKS, INC.

2006 EQUITY INCENTIVE PLAN

NOTICE OF GRANT OF RESTRICTED STOCK UNITS

Unless otherwise defined herein, the terms defined in the Plan shall have the same defined
meanings in this Notice of Grant.

Name:      

You have been granted      Restricted Stock Units. Each such Unit is equivalent to one
Share of Common Stock of the Company for purposes of determining the number of Shares subject to
this award. None of the Restricted Stock Units will be issued (nor will you have the rights of a
stockholder with respect to the underlying shares) until the vesting conditions described below are
satisfied. Additional terms of this grant are as follows:

	 	 	 
	Date of Grant

Vesting Schedule:

	 	     , 2006

[Insert Vesting Schedule]

You acknowledge and agree that this agreement and the vesting schedule set forth herein does
not constitute an express or implied promise of continued engagement as a Service Provider for the
vesting period, for any period, or at all, and shall not interfere with your right or the Company’s
right to terminate your relationship as a Service Provider at any time, with or without cause.

You hereby agree to accept as binding, conclusive and final all decisions or interpretations
of the Administrator upon any questions relating to the Plan and this Award.

By your acknowledgement and acceptance of the terms of this Notice of Grant prior to the
Expiration Date, you agree that this Notice of Grant, the form of Restricted Stock Unit Agreement
attached as Exhibit A hereto and the 2006 Equity Incentive Plan constitute your entire agreement
with respect to this Award and may not be modified adversely to your interest except by means of a
writing agreed by the Company and you.

1

Exhibit A

JUNIPER NETWORKS, INC.

2006 EQUITY INCENTIVE PLAN

RESTRICTED STOCK UNIT AGREEMENT

1. Grant. The Company hereby grants to the Employee an award of Restricted Stock
Units (“RSUs”), as set forth in the Notice of Grant of Restricted Stock Units and subject to the
terms and conditions in this Agreement and the Company’s 2006 Equity Incentive Plan (the “Plan”).
Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings
in this Restricted Stock Unit Agreement.

2. Company’s Obligation. Each RSU represents the right to receive a Share on the
vesting date. Unless and until the RSUs vest, the Employee will have no right to receive Shares
under such RSUs. Prior to actual distribution of Shares pursuant to any vested RSUs, such RSUs
will represent an unsecured obligation of the Company, payable (if at all) only from the general
assets of the Company.

3. Vesting Schedule. Subject to paragraph 4, to Plan Sections 16 and 17 and to any
other relevant Plan provisions, the RSUs awarded by this Agreement will vest in the Employee
according to the vesting schedule specified in the Notice of Grant.

4. Forfeiture upon Termination as Service Provider. Notwithstanding any contrary
provision of this Agreement or the Notice of Grant, if the Employee terminates service as a Service
Provider for any or no reason prior to vesting, the unvested RSUs awarded by this Agreement will
thereupon be forfeited at no cost to the Company.

5. Payment after Vesting. Any RSUs that vest in accordance with paragraph 3 will be
paid to the Employee (or in the event of the Employee’s death, to his or her estate) in Shares,
provided that to the extent determined appropriate by the Company, any national, state and local
withholding of taxes and/or social security contributions with respect to such RSUs, if applicable,
will be paid by the Employee. The tax and/or social security contributions payment shall generally
be made through the Employee’s brokerage account designated by the Company. The Employee may choose
to cover the tax and/or social security contributions payment through (i) cash on deposit at the
broker, or (ii) by electing to have the broker sell vested shares to cover taxes, social security
contributions and related fees. However, should the Employee’s account have insufficient funds, the
Employee will be deemed to have elected to have the broker sell vested shares to cover taxes,
social security contributions and related fees. The Employee acknowledges and agrees that the
amount of withholding taxes, social security contributions and related fees to be satisfied by
selling vested shares be in excess, the Company will refund the excess amount to him or her within
a reasonable period without any interest.

6. Payments after Death. Any distribution or delivery to be made to the Employee
under this Agreement will, if the Employee is then deceased, be made to the administrator or
executor of the Employee’s estate. Any such administrator or executor must furnish the Company
with (a) written notice of his or her status as transferee, and (b) evidence satisfactory to the
Company to establish the validity of the transfer and compliance with any laws or regulations
pertaining to said transfer.

7. Rights as Stockholder. Neither the Employee nor any person claiming under or
through the Employee will have any of the rights or privileges of a stockholder of the Company in
respect of any Shares deliverable hereunder unless and until certificates representing such Shares
will have been issued, recorded on the records of the Company or its transfer agents or registrars,
and delivered to the Employee or Employee’s broker.

8. No Effect on Employment. The Employee’s employment with the Company and its
Subsidiaries is on an at-will basis only. Accordingly, the terms of the Employee’s employment with
the Company and its Subsidiaries will be determined from time to time by the Company or the
Subsidiary employing the Employee (as the case may be), and the Company or the Subsidiary will have
the right, which is hereby expressly reserved, to terminate or change the terms of the employment
of the Employee at any time for any reason whatsoever, with or without good cause or notice.

9. Address for Notices. Any notice to be given to the Company under the terms of this
Agreement will be addressed to the Company at 1194 North Mathilda Avenue

Sunnyvale, California, 94089 Attn: Stock Administration, or at such other address as
the Company may hereafter designate in writing or electronically.

10. Grant is Not Transferable. Except to the limited extent provided in paragraph 6,
this grant and the rights and privileges conferred hereby will not be transferred, assigned,
pledged or hypothecated in any way (whether by operation of law or otherwise) and will not be
subject to sale under execution, attachment or similar process. Upon any attempt to transfer,
assign, pledge, hypothecate or otherwise dispose of this grant, or any right or privilege conferred
hereby, or upon any attempted sale under any execution, attachment or similar process, this grant
and the rights and privileges conferred hereby immediately will become null and void.

11. Binding Agreement. Subject to the limitation on the transferability of this grant
contained herein, this Agreement will be binding upon and inure to the benefit of the heirs,
legatees, legal representatives, successors and assigns of the parties hereto.

12. Additional Conditions to Issuance of Stock. If at any time the Company will
determine, in its discretion, that the listing, registration or qualification of the Shares upon
any securities exchange or under any state or federal law, or the consent or approval of any
governmental regulatory authority is necessary or desirable as a condition to the issuance of
Shares to the Employee (or his or her estate), such issuance will not occur unless and until such
listing, registration, qualification, consent or approval will have been effected or obtained free
of any conditions not acceptable to the Company. The Company will make all reasonable efforts to
meet the requirements of any such state or federal law or securities exchange and to obtain any
such consent or approval of any such governmental authority.

13. Plan Governs. This Agreement and the Notice of Grant are subject to all terms and
provisions of the Plan. In the event of a conflict between one or more provisions of this
Agreement or the Notice of Grant and one or more provisions of the Plan, the provisions of the Plan
will govern.

14. Administrator Authority. The Administrator will have the power to interpret the
Plan and this Agreement and to adopt such rules for the administration, interpretation and
application of the Plan as are consistent therewith and to interpret or revoke any such rules
(including, but not limited to, the determination of whether or not any RSUs have vested). All
actions taken and all interpretations and determinations made by the Administrator in good faith
will be final and binding upon Employee, the Company and all other interested persons. No member
of the Administrator will be personally liable for any action, determination or interpretation made
in good faith with respect to the Plan or this Agreement.

2EX-10.1

EXHIBIT 10.1

     , 2006

Re: Performance Award Agreement

Dear      :

In recognition of your continued commitment to the growth and success of New Century Financial
Corporation (“New Century”), we are very pleased to announce that you have been granted an
opportunity to earn a performance award of up to $220,500 (your “Performance Award”). This letter
(this “Agreement”) sets forth the terms and conditions of your Performance Award. If you have any
questions after reading this Agreement, please contact Amanda Peterson at (949) 255-6890.

Performance Award Opportunity. We will pay you a cash amount equal to your
Performance Award, subject to tax withholding and other authorized deductions, if New Century meets
its four (4) predetermined objectives, as set forth below, at target for the three-year period from
January 1, 2006 to December 31, 2008 (the “Performance Period”). The four objectives have been
established with respect to the following performance measures: Pre-Tax Income (“PTI”), Pre-Tax
income Growth (“PTIG”), Return on Stockholders’ Equity (“ROE”), and Total Shareholder Return
(“TSR”).

If performance is less than or greater than the target level of performance for any one or
more of the performance measures for the Performance Period, the amount of your Performance Award
will be determined with reference to “Performance Units.” You have been awarded      
Performance Units for this purpose, with      units allocated to the PTI measure,      units
allocated to the PTIG measure,      units allocated to the ROE measure, and      units
allocated to the TSR measure. Each Performance Unit represents the right to receive $100 if the
related measure is achieved at the target level of performance for the Performance Period. No
amount will be payable with respect to a Performance Unit if minimum performance is not achieved
with respect to that measure for the Performance Period.

Following is more information on the Performance Measures:

PTI: We will pay you $100 for each of your Performance Units allocated to the PTI measure if
New Century’s consolidated pre-tax net income (without the TRS portfolio) equals or exceeds $606
million for any fiscal year during the Performance Period. This portion of the Performance Award
will be paid only with respect to the first year in which such earnings target is met, and will not
be paid again even if the earnings target is met in a subsequent year. No payment will be made
with respect to this portion of the Performance Award if New Century’s consolidated pre-tax net
income (without the TRS portfolio) does not equal or exceed $606 million for any fiscal year during
the Performance Period.

PTIG: We will pay you $100 for each of your Performance Units allocated to the PTIG measure
if New Century’s consolidated pre-tax net income for the three fiscal years in the Performance
Period grows at an average annual rate of 20% (using New Century’s consolidated pre-tax net income
for 2005 as the base year to measure such growth). A payout schedule for results other than at
target is set forth on the attached Exhibit A.

ROE: We will pay you $100 for each of your Performance Units allocated to the ROE measure if
New Century’s average annual return on stockholders’ equity for the three fiscal years in the
Performance Period falls within a range from 27.00% to 29.99%. A payout schedule for results other
than at target is set forth on the attached Exhibit B.

TSR: We will pay you $100 for each of your Performance Units allocated to the TSR measure if
New Century’s total stockholders’ return for the three fiscal years in the Performance Period falls
within the range 65.00% to 84.99%. A payout schedule for results other than at target is set forth
on the attached Exhibit C.

The determination of whether and the extent to which the objectives have been met with respect
to the Performance Period will be based on New Century’s audited financial statements and related
notes and supporting schedules for each relevant year. To the extent any portion of your
Performance Award is allocated to a particular performance measure and minimum performance is not
achieved with respect to that measure for the Performance Period, no amount will be payable to you
with respect to that portion of your award.

No portion of your Performance Award will be paid, and this Agreement will immediately
terminate, if your employment by New Century or one of our subsidiaries terminates (for any reason,
whether a termination with or without cause, due to your retirement, death, disability, layoff, or
otherwise) prior to the date that your Performance Award is actually paid (regardless of whether
any performance objective was theretofore satisfied).

Payment. New Century will determine the extent to which the performance objectives
have been satisfied with respect to the Performance Period promptly after audited financial
statements for New Century are received by us with respect to the last year in the Performance
Period. If one or more of the performance objectives have been satisfied at or above the minimum
level of performance, New Century will, subject to the employment requirement set forth above, pay
you the applicable portion of your award promptly after making such determination. (Note that,
even if the PTI measure is achieved before the end of the Performance Period, that determination
and any related payments will not be made until after the last year in the Performance Period, and
the employment requirement will remain in place as indicated above through the date that payments
are actually made.)

Adjustments. New Century may, in our sole discretion, adjust performance measures,
performance conditions, and performance goals applicable to your Performance Award if we determine
that the adjustment is necessary or advisable to preserve the intended incentives and benefits to
reflect any one or more of the following that may have occurred or may in the future occur: (1) any
material change in the capitalization or organization of New Century or any of our subsidiaries,
any material corporate transaction (such as a reorganization, combination, separation, merger,
acquisition, or any combination of the foregoing) affecting New Century or any of our subsidiaries,
or any complete or partial liquidation of New Century or any of our subsidiaries, (2) any change in
accounting policies or practices, (3) the effects of any special charges to New Century or any of
our subsidiaries, or (4) any other similar special circumstances.

Administration. New Century reserves the right, in our sole discretion, to determine
performance, whether the applicable performance conditions have been timely satisfied, to make
adjustments as contemplated above, and to construe and interpret this Agreement setting forth your
Performance Award opportunity. Any interpretation or determination made by New Century with
respect to such matters shall be final and binding and given the maximum deference permitted by
law.

No Right to Continued Employment. Nothing contained in this Agreement constitutes an
employment or service commitment by New Century (or any of our affiliates), affects your status as
an employee at will who is subject to termination without cause at any time, or interferes in any
way with New Century’s right (or the right of any of our affiliates) to change your compensation or
other terms of employment at any time.

Entire Agreement. This Agreement contains all of the terms and conditions of your
performance award opportunity and may be amended only by a written agreement, signed by an
authorized officer, that expressly refers to this Agreement.

	 
	 

	NEW CENTURY FINANCIAL CORPORATION

a Maryland corporation

By:     

Brad A. Morrice

Vice Chairman, President and Chief Operating Officer

1

EXHIBIT A

PERFORMANCE UNITS: PTIG PAYOUT SCHEDULE

	 	 	 	 	 
	Average Annual Growth Rate	 	Per Unit Payout*
	25.00% or Greater
	 	$	150	 
	 
	 	 	 	 
	20.01% - 24.99%
	 	$	102 - $148	 
	 
	 	 	 	 
	20.0% (Target)
	 	$	100	 
	 
	 	 	 	 
	15.00% - 19.99%
	 	$	75	 
	 
	 	 	 	 
	10.00% -14.99%
	 	$	50	 
	 
	 	 	 	 
	5.00% - 9.99% (Minimum Performance)
	 	$	25	 
	 
	 	 	 	 
	Less Than 5.0%
	 	$	0	 
	 
	 	 	 	 

* For average annual growth rate of 20.01% or more but 24.99% or less, the Per Unit value
will equal $102 at 20.01% and will increase by $2.00 per unit for each 0.2% by which the average
annual growth rate exceeds 20.01% to a maximum of $148 per unit. Except as noted, the per unit
payout will not be pro-rated for performance within, above, or below the specified ranges.

The average annual growth rate will be rounded to the nearest whole hundredth of a percent.

2

EXHIBIT B

PERFORMANCE UNITS: ROE PAYOUT SCHEDULE

	 	 	 	 	 
	Average Annual Return
on Equity
	 	Per Unit Payout

	 
	 	 	 	 
	39.00% or Greater
	 	$	150	 
	 
	 	 	 	 
	36.00% - 38.99%
	 	$	135	 
	 
	 	 	 	 
	33.00% - 35.99%
	 	$	120	 
	 
	 	 	 	 
	30.00% - 32.99%
	 	$	105	 
	 
	 	 	 	 
	27.00% - 29.99% (Target)
	 	$	100	 
	 
	 	 	 	 
	24.00% - 26.99%
	 	$	75	 
	 
	 	 	 	 
	21.00% - 23.99%
	 	$	50	 
	 
	 	 	 	 
	18.00% - 20.99% (Minimum Performance)
	 	$	25	 
	 
	 	 	 	 
	Below 18.0%
	 	$	0	 
	 
	 	 	 	 

The average annual return on equity will be rounded to the nearest whole hundredth of a
percent. The per unit payout will not be pro-rated for performance within, above, or below the
specified ranges.

3

EXHIBIT C

PERFORMANCE UNITS: TSR PAYOUT SCHEDULE

	 	 	 	 	 
	Total Stockholder Return
	 	Per Unit Payout

	 
	 	 	 	 
	135.00% or Greater
	 	$	150	 
	 
	 	 	 	 
	115.00% - 134.99%
	 	$	135	 
	 
	 	 	 	 
	100.00% - 114.99%
	 	$	120	 
	 
	 	 	 	 
	85.00% - 99.99%
	 	$	105	 
	 
	 	 	 	 
	65.00% - 84.99% (Target)
	 	$	100	 
	 
	 	 	 	 
	45.00% - 64.99%
	 	$	75	 
	 
	 	 	 	 
	30.00% - 44.99%
	 	$	50	 
	 
	 	 	 	 
	15.00% - 29.99% (Minimum Performance)
	 	$	25	 
	 
	 	 	 	 
	Below 15.0%
	 	$	0	 
	 
	 	 	 	 

The total stockholder return will be rounded to the nearest whole hundredth of a percent. The
per unit payout will not be pro-rated for performance within, above, or below the specified ranges.

4

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