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Exhibit 10.54    
    

 
 

COUNTRYWIDE FINANCIAL CORPORATION    
    
    RESTRICTED STOCK AGREEMENT    
    

        This Restricted Stock Agreement ("Agreement"), made as of [Grant Date] (the "Grant Date"),
between COUNTRYWIDE FINANCIAL CORPORATION, a Delaware corporation (the "Company"), and [Employee Name] (the "Award Holder"). 

        In
accordance with the 2000 Equity Incentive Plan of Countrywide Financial Corporation (Amended and Restated Effective June 16, 2004), as further amended (the "EIP"), the Company
has awarded the Award Holder [Shares] shares of common stock, par value $0.05 per share ("Shares"), upon the terms and
conditions described in this Agreement and the EIP (the "Restricted Stock"). Capitalized terms not defined herein shall have the meaning ascribed to them in the EIP. 

        Grant of Restricted Stock.    This Agreement evidences the Company's grant to the Award Holder, on the
Grant Date of the Restricted Stock, subject to the provisions of this Agreement and the EIP (the "Award"). The number of shares of Restricted Stock shall be subject to adjustment as provided in
Section 5 hereof. The Restricted Stock will be maintained on deposit with the Company or its agent. 

	1.
	Release or Forfeiture of the Restricted Stock.

	(a)
	Subject
to paragraphs (b) and (c) below, if the Award Holder remains employed by the Company through the relevant release dates set forth below (the "Release Date"),
then, at the close of business as of such date, the Company shall release to the Award Holder the cumulative percentage of the Restricted Stock set forth opposite such dates: 

	Cumulative Total of

Restricted Shares Released
 
	 	Release Dates

	33%	 	[One Year from Grant Date]
	66%	 	[Two Years from Grant Date]
	100%	 	[Three Years from Grant Date]

	(b)
	If
the Award Holder does not remain employed by the Company, for any reason other than death, Disability or Normal Retirement, through the applicable Release Date, the Award Holder
shall forfeit all right, title and interest in and to that portion of Restricted Stock which have not been released as of the date of termination of employment with the Company. In the event the Award
Holder's employment terminates, other than as a result of death, Disability, Normal Retirement or Cause, and the Award Holder returns to employment with the Company within three (3) months
after the termination, the termination will have no effect on the Award and the Award Holder shall have the same number of shares and the same Release Dates as set forth in this Agreement.

	(c)
	In
the event of a Corporate Change or termination by the company without cause or death, or termination of employment resulting from Disability or Normal Retirement, the Restricted
Stock which have not previously been released to the Award Holder shall be released to the Award Holder, and no longer be subject to forfeiture, as of the date of such event or such termination.

	2.
	Non-Transferability of Restricted Stock.    Until such time as a share of Restricted Stock
is released, as provided in paragraph 1 hereof, the Award Holder shall not sell, assign, transfer, pledge, hypothecate, mortgage, encumber or dispose of any such Restricted Stock except that
all or any of the Restricted Stock may be transferred by will or the laws of descent and distribution, by Beneficiary Designation or pursuant to a qualified domestic relations order.

	3.
	Securities Laws.    The Award Holder acknowledges that certain restrictions under state or federal
securities laws may apply with respect to the Restricted Stock granted pursuant to this Award, even after they have been released to the Award Holder. Award Holder 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. 

	4.
	Legend.    Each certificate evidencing any of the shares of Restricted Stock shall bear a legend
substantially as follows: 

"The
shares represented by this certificate are subject to restrictions on transfer and may not be sold, exchanged, transferred, pledged, hypothecated or otherwise disposed of except in accordance
with and subject to all of the terms and conditions of a certain Restricted Stock Agreement dated as of [Grant Date], and the
2000 Equity Incentive Plan of Countrywide Financial Corporation, copies of which the Company will furnish to the holder of this certificate upon request without charge." 

	5.
	Adjustment.    In the event of a Change in Capitalization (as hereinafter defined), the number of shares of Restricted Stock
granted hereunder shall be appropriately and equitably adjusted. For purposes hereof, "Change in Capitalization" shall mean any increase or reduction in the number of shares of Common Stock
outstanding, or any exchange of Common Stock for a different number or kind of shares or other securities of the Company by reason of a reclassification, recapitalization, merger, consolidation,
reorganization, stock dividend, stock split or reverse stock split, combination or exchange of shares or similar event. If by reason of a Change in Capitalization, the Award Holder shall be entitled
to new, additional or different shares of Common Stock or securities, such new, additional or different shares shall thereupon be subject to all of the conditions which were applicable to the
Restricted Shares prior to such Change in Capitalization.

	6.
	Designation of Beneficiary.    The Award Holder may file a Beneficiary Designation under this Agreement and may from
time to time revoke or amend any such designation. Any Beneficiary Designation under this Agreement shall be controlling over any other disposition, testamentary or otherwise, provided, however, that
if the Company is in doubt as to the entitlement of any such beneficiary to any shares of Restricted Stock, the Company may determine to recognize only the legal representative of the Award Holder in
which case the Company shall not be under any further liability to anyone.

	7.
	Stockholder Rights.    During the period that any shares of Restricted Stock remain subject to forfeiture under
Section 1 hereof, the Award Holder shall retain all rights of a stockholder of the Company with respect to such Shares, including the right to vote such Shares and the right to receive
dividends paid in respect of such Shares.

	8.
	Withholding.    The Company shall have the right to require the Award Holder (or if applicable, permitted assigns, heirs or
Beneficiaries) to remit to the Company an amount sufficient to satisfy any tax requirements prior to the delivery of any certificate or certificates for Restricted Stock under this Agreement. All or a
portion of the taxes required to be withheld in connection with the lapse of restrictions on an Award may be paid by withholding shares to be delivered to the Award Holder pursuant to an Award.

	9.
	No Right to 83(b) Election.    The Award Holder shall have no right to file an Internal Revenue Code section 83(b)
election in connection with this Award. In the event the Award Holder files such election, this Restricted Stock Agreement shall become null and void and the Award shall be immediately forfeited.

	10.
	Notices.    Any notice to be given under the terms of this Agreement shall be in writing and addressed to the Company at its
principal office in Calabasas, California, and to the Award Holder at the address of the Award Holder on file with the Company, or which the Award Holder may hereafter designate in writing.

	11.
	No Right of Employment.    Nothing in this Agreement or the Plan shall be construed as creating any
contract of employment or conferring upon the Participant any right to continue in the employ or 

other
service of the Company or limit in any way the right of the Company to change such person's compensation or other benefits or to terminate the employment or other service of such person with or
without cause or notice of any kind. 

        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 10.54

COUNTRYWIDE FINANCIAL CORPORATION RESTRICTED STOCK AGREEMENTQuickLinks
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Exhibit 10.67    
    

 
 

COUNTRYWIDE FINANCIAL CORPORATION    
    
    2006 EQUITY INCENTIVE PLAN    
    
    RESTRICTED STOCK UNIT AWARD AGREEMENT    
    

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

        Section 1.    Award.    In accordance with the Plan,
the
Company hereby grants to the Participant the number of Units set forth below. On any date, a Unit has a value equal to the Fair Market Value of one share of Stock. The Participant shall have no right
to payment with respect to a Unit until the Unit vests in accordance with Section 3 of this Agreement. Prior to actual payment, Units represent
an unsecured obligation of the Company, payable only from the general assets of the Company. The Units 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 Units shall have the following meanings: 

        (a)   The
"Participant" is <First Name> <Last Name>. 

        (b)   The
"Grant Date" is <Date>. 

        (c)   The
number of "Units" is <Units>. 

        Section 3.    Vesting.    Except as otherwise
provided in this
Agreement, Units will vest as indicated in the following table, provided, in each case, the Participant has not had a Termination of Service prior to the applicable vesting date(s): 

	INSTALLMENT
 
	 	VESTING DATES

	50%	 	1st Anniversary of Grant Date
	25%	 	2nd Anniversary of Grant Date
	25%	 	3rd Anniversary of Grant Date

        (a)   Notwithstanding
the foregoing provisions of this Section 3, all Units shall vest immediately upon the earliest of
the following events to occur: (i) a Change in Control that occurs on or before the Participant's Termination of Service; or (ii) the Participant's Termination of Service as a result of
the Participant's death, Disability or Retirement. 

        (b)   Notwithstanding
any contrary provision of this Agreement, any Units that have not vested pursuant to this  Section 3 prior to the Participant's Termination of Service other than due to death, Disability or
Retirement, will be forfeited and cancelled
immediately upon such Termination of Service. 

        Section 4.    Settlement of Units.    As soon as
administratively practicable following the applicable Vesting Date identified in Section 3 of this Agreement, but in no event later than
March 15 of the calendar year following the applicable Vesting Date, the Company shall make a cash payment to the Participant equal
to the Fair Market Value of one share of Stock as of the Vesting Date in settlement of each vested Unit. 

        Section 5.    Withholding.    All payments pursuant
to this
Agreement shall be subject to withholding of all applicable Federal, state and local income taxes, as determined by the Company, in its sole discretion. 

 

        Section 6.    Heirs and Successors.    The Agreement
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 Agreement. The "Designated Beneficiary" shall be the beneficiary or beneficiaries designated by the Participant in
a writing filed with the Committee on a 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 choose a Designated Beneficiary, or if no Designated Beneficiary survives the Participant, any rights that would have been payable to the Participant shall be payable to the legal
representative of the estate of the Participant. If a Designated Beneficiary survives the Participant but dies before the settlement of Designated Beneficiary's rights under this 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
Unit.    Except as otherwise provided in Section 6 of this Agreement, the Units are non-transferable at all times. The
Participant may not sell, assign, transfer, pledge, hypothecate, mortgage, encumber or dispose of (together, "Transfer") any Units awarded under this
Agreement. Any attempted Transfer of Units shall be null and void and will result in the immediate forfeiture and cancellation of all of the Units subject to this Agreement. 

        Section 8.    No Voting or Dividend Rights.    The
Participant
shall at no time be a shareholder of record with respect to the Units and shall at no time have any voting rights or rights to dividends or dividend equivalents with respect to the Units. 

        Section 9.    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. Participant hereby agrees to execute such documents and take such
actions as the Company may reasonably require with respect to applicable state and Federal securities laws. 

        Section 10.    Administration.    The authority to
manage and
control the operation and administration of the Agreement and the Plan shall be vested in the Committee, and the Committee shall have all powers with respect to the Agreement as it has with respect to
the Plan. Any interpretation of the Agreement or the Plan by the Committee and any decision made by it with respect to the Agreement or the Plan are final and binding on all persons. 

        Section 11.    Plan Governs.    Notwithstanding
anything in the
Agreement to the contrary, the Agreement 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. The Agreement is
subject to all interpretations, amendments, rules and regulations promulgated by the Committee from time to time pursuant to the Plan. Notwithstanding anything in the Agreement to the contrary, in the
event of any discrepancies between the corporate records and the Statement, the corporate records shall control. 

        Section 12.    Not An Employment Contract.    The
Units 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. 

        Section 13.    Amendment.    The Agreement 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. 

2

 

        Section 14.    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 15.    Statement and Modifications.    The
Units
granted to the Participant under the 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 Units, vesting of Units and any permitted modifications to the Plan
and Units granted thereunder. Unless the Participant provides written notice to the Company's Unit 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:	 	 	 
	

/s/ Becky Bailey
 Becky Bailey

MD, Global Benefits and Executive Compensation	
 	

 	

 

Yes, I do accept

(Click
here to accept the terms and conditions of the Agreement

and to acknowledge your receipt and understanding of the

2006 Equity Incentive Plan Prospectus.) 

No, I do not accept

(Click
here to reject and void the award.) 

3

QuickLinks

Exhibit 10.67

COUNTRYWIDE FINANCIAL CORPORATION 2006 EQUITY INCENTIVE PLAN RESTRICTED STOCK UNIT AWARD AGREEMENT

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