Document:

Exhibit 4.1.4

 

EXHIBIT 4.1.4

AMENDMENT NUMBER FOUR TO THE

COUNTRYWIDE FINANCIAL CORPORATION

401(k) SAVINGS AND INVESTMENT PLAN

     THIS AMENDMENT is made on this 15 day of June, 2004, by Countrywide Financial Corporation, a
corporation duly organized and existing under the laws of the State of Delaware (the “Company”).

W I T N E S S E T H:

     WHEREAS, the Company maintains the Countrywide Financial Corporation 401(k) Savings and
Investment Plan (the “Plan”), which was last amended on December 3, 2003;

     WHEREAS, the Company now wishes to amend the Plan to modify its procedures applicable to the
allocation of qualified non-elective contributions;

     WHEREAS, this amendment shall supersede the provisions of the Plan to the extent those
provisions are inconsistent with the provisions of this Amendment Number Four; and

     WHEREAS, unless otherwise provided herein, this Amendment Number Four shall be effective
January 1, 2004:

     NOW, THEREFORE, the Company does hereby amend the Plan as follows:

	 	1.	 	By adding new Subsection (e) to Section 1.01, as follows:
	 
	 	“(e)	 	‘QNEC Account’ means that portion of the Participant’s Account attributable
to QNECs, if any, as adjusted for withdrawals and distributions and the earnings,
losses and expenses attributable thereto.”

2. By substituting the phrase “Salary Deferral Contributions, Employer Matching
Contributions, Employer Discretionary Contributions, QNECs and Rollover Contributions” for
the phrase “Salary Deferral Contributions, Employer Matching Contributions, Employer
Discretionary Contributions, and Rollover Contributions” where the latter phrase appears in
Section 1.15(e).

3. By adding the following new Section 1.28A, as follows:

“1.28A ‘QNECs’ means qualified non-elective contributions, within the meaning of Treasury
Regulation Section 1.401(k)-1(g)(13)(ii), used to satisfy either the Actual Deferral
Percentage test under Section 6.03 and/or the Actual Contribution Percentage test under
Section 6.04 with respect to any Plan Year.”

 

 

	 	4.	 	By deleting Section 6.03(c) and substituting therefor the following:
	 
	 	“(c)	 	‘Actual Deferral Percentage’ means, for a specified group of Participants for
a Plan Year, the average of the ratios (calculated separately for each Participant in
such group) of (i) the sum of the amount of Salary Deferral Contributions and QNECs
actually paid over to the Trust Fund on behalf of such Participant for the Plan Year
to (ii) the Participant’s Section 415 Compensation for such Plan Year but, to the
extent applicable, taking into account only compensation paid after the employee first
became a Participant in the Plan. For Plan Years beginning after December 31, 1996,
this percentage shall be calculated using the current year testing method.”
	 
	 	5.	 	By deleting Section 6.04(b) and substituting therefor the following:
	 
	 	“(b)	 	‘Actual Contribution Percentage’ means, for a specified group of Participants
for a Plan Year, the average of the ratios (calculated separately for each Participant
in such group) of (i) the sum of the amount of Employer Matching Contributions,
Employer Discretionary Contributions and QNECs actually paid over to the Trust Fund on
behalf of such Participant for the Plan Year to (ii) the Participant’s Section 415
Compensation for such Plan Year but, to the extent applicable, taking into account
only compensation paid after the employee first became a Participant in the Plan.
QNECs that are taken into account for a Plan Year under Section 6.03(c) shall not be
taken into account for purposes of this Section 6.04(b). For Plan Years beginning
after December 31, 1996, this percentage shall be calculated using the current year
testing method.”
	 
	 	6.	 	By deleting Section 6.06(c) and substituting therefor the following:
	 
	 	“(c)	 	To the extent permitted under the Code and applicable Treasury Regulations,
within twelve (12) months after the close of a Plan Year (or within such greater time
if permitted by the Internal Revenue Service), the Participating Employer, in its sole
discretion, may make QNECs on behalf of one or more Non-highly Compensated Employees
to be allocated to their QNEC Accounts in an amount sufficient to satisfy one or both
of the tests set forth in Sections 6.03 and 6.04. QNECs shall be allocated to
Participants who are Non-highly Compensated Employees, starting with the Participant
with the lowest Compensation for the Plan Year, until such Participant has reached the
limitation under Section 6.08 hereof and then allocating QNECs similarly to the
remaining group of such Participants, in ascending order of Compensation, until the
QNECs are fully utilized. Once the QNECs are fully utilized, no further allocations
will be made to any remaining Participants in the group of Non-highly Compensated
Employees. For any such Plan Year, the Administrator shall designate whether QNECs
contributed by a Participating Employer are to be used to
satisfy the test under Section 6.03 or under Section 6.04 or, if both, the portion
of QNECs to be applied towards satisfaction of each test. From and after the Plan
Year with

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	 	 	 	respect to which Proposed Treasury Regulation Section 1.401(k)-2 first
becomes effective, the allocation of QNECs to eligible Participants who are
Non-highly Compensated Employees shall not be made to each such Participant until
the limitation under Section 6.08 is attained; instead, the allocation to each such
Participant shall be equal to the Participant’s Compensation multiplied by the
greater of five percent (5%) or two (2) times the Plan’s ‘representative
contribution rate’, as defined under Proposed Treasury Regulation Section
1.401(k)-2(a)(6)(iv)(B) or such other maximum allocation rate permitted by the
final version of Proposed Treasury Regulation Section 1.401(k)-2(a)(6)(iv).”
	 
	 	7.	 	By deleting Section 8.04(c) and substituting therefor the following:
	 
	 	“(c)	 	A Participant’s Salary Deferral Contribution Account and QNEC Account may be
invested up to fifty percent (50%) in Company Stock. A Participant may change his
investment election with respect to existing investments in Company Stock in any
Salary Deferral Contribution, QNEC Account and Rollover Contribution Account, provided
that at the time of such change, the value of the Participant’s investment in Company
Stock shall not exceed fifty percent (50%) of the total value of the Participant’s
Salary Deferral Contribution Account, QNEC Account and Rollover Contribution Account.”
	 
	 	8.	 	By deleting Section 9.01 and substituting therefor the following:
	 
	 	“9.01 	 	‘Salary Deferral Contribution Account, QNEC Account and Rollover
Contribution Account.’

A Participant’s interest in his or her Salary Deferral Contribution Account, QNEC Account
and Rollover Contribution Account, if any, shall be fully vested and nonforfeitable at all
times.”

	 	9.	 	By deleting Section 9.05(a) and substituting therefor the following:
	 
	 	“(a)	 	Forfeitures shall be used, at the discretion of the Administrator, to pay
administrative expenses of the Plan, to fund QNECs for the current or immediately
preceding Plan Year or to reduce the amount of Employer Matching Contributions and
Employer Discretionary Contributions which are to be made by the Participating
Employer for the current or following Plan Year.”

10. By substituting the phrase “Salary Deferral Contribution Account, Rollover Contribution
Account, QNEC Account and Employer Contribution Account” for
the phrase “Salary Deferral Contribution Account, Rollover Contribution Account and
Employer Contribution Account” each time the latter phrase appears in Article 10.

11. By substituting the term “QNECs” for the phrase “Qualified Nonelective Contributions”
where the latter phrase appears in Section 13.03.

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     Except as specifically amended hereby, the Plan shall remain in full force and effect as prior
to this Amendment Number Four.

     IN WITNESS WHEREOF, the Company has caused this Amendment Number Four to be executed on the
day and year first above written.

	 	 	 	 	 	 	 
	 	 	COUNTRYWIDE FINANCIAL CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ LEORA GOREN
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	MD, Human Resources	 	 

	 	 	 
	ATTEST:
	 	 
	 
	 	 
	/s/ GERARD A. HEALY
 
 

	 	 
	Title: Assistant Secretary
	 	 

4Exhibit 4.1.5

 

EXHIBIT 4.1.5

AMENDMENT NUMBER FIVE TO THE

COUNTRYWIDE FINANCIAL CORPORATION

401(k) SAVINGS AND INVESTMENT PLAN

     THIS AMENDMENT is made on this 15 day of June, 2004, by Countrywide Financial Corporation, a
corporation duly organized and existing under the laws of the State of Delaware (the “Company”).

W I T N E S S E T H:

     WHEREAS, the Company maintains the Countrywide Financial Corporation 401(k) Savings and
Investment Plan (the “Plan”).

     WHEREAS, the Company now wishes to amend the Plan primarily to modify the provisions relative
to the power to amend the plan to reflect delegation of authority to such person or persons as the
Company’s Board of Directors deems appropriate.

     WHEREAS, this amendment shall supersede the provisions of the Plan to the extent those
provisions are inconsistent with the provisions of this Amendment No. 5;

     WHEREAS, this Amendment Number 5 shall be effective July 1, 2004.

     NOW, THEREFORE, the Company does hereby amend the Plan as follows:

By deleting Section 10.01 and substituting therefor the following:

10.01 General

All Participants who are Eligible Employees shall be eligible to receive loans from their
Salary Deferral Contribution Account, Rollover Contribution Account and Employer
Contribution Account under the Plan. The Plan Administrator shall prescribe the terms and
conditions for making loans to Participants from their Accounts consistent with the
provisions of this Article 10, the prohibited transaction exemption requirements of the
Code and ERISA, and other applicable law and Appendix B.

By deleting Section 10.03(a), (c) and (d) and substituting therefor the following:

10.03 Loan Terms

(a) A loan to a Participant shall be evidenced by the Participant’s recourse promissory
note in the form presccribed by the Plan Administrator.

(c) Interest shall be charged on the loan at a reasonable rate to be determined by the Plan
Administrator at the time the loan is made.

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(d) Loan repayments on principal and interest shall be amortized in level payments over
payment periods to be determined by the Plan Administrator in its discretion, but not less
frequently than quarterly, over the term of the loan.

By deleting Section 10.06(b) and (c) and substituting therefor:

10.06 Default

(b) Except as otherwise provided in Paragraph (c) below, the Plan Administrator may elect
to charge the unpaid loan balance against the Participant’s Account other than the ESOP
Account whether or not the Partipant has attained age 59-1/2 or terminated employment, and
whether or not such charge is on account of any financial hardship of the Participant.

(c) The Plan Administator may not charge any unpaid loan balance against a Participant’s
Salary Deferral Contribution Account unless the Participant has attained age 59-1/2, has
terminated employment, or qualifies for a financial hardship withdrawal in accordance with
Sections 11.01 and 11.03

By deleting Section 14.01 and substituting therefor the following:

14.01 Administrator

The Company shall be the “Administrator” of the Plan within the meaning of Section 3(16)(A)
of ERISA. The Investment Committee of Employee Benefit Plans is delegated responsibility
for the selection of Investment Funds and monitoring performance of the Investment Funds
and is a “Named Fiduciary” for purposes of Section 402(a)(2) of ERISA. Such duties shall
be performed on behalf of the Company by such persons or committee as may be appointed by
the Board of Directors.

By deleting Section 15.01 and substituting therefor the following:

15.01 Amendment

The Company may at any time and from time to time amend the Plan by action of the Board of
Directors or by action of any person or persons to whom the authority has been delegated by
the Board without the consent of any Trustee, any other Participating Employer, or any
Participant or Beneficiary. Such amendment must be adopted in writing by resolution, by
such other action permitted by the Company’s charter or by-laws, or by such other method
permitted by the laws of the state of the Company’s incorporation and the Company’s
procedures..

Notwithstanding the foregoing:

	 	(a)	 	no amendment that materially affects the Trustee’s duties shall be effective
without the written consent of the Trustee;

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	 	(b)	 	no amendment shall cause the Trust Fund to be used other than for the
exclusive benefit of Participants and their Beneficiaries; and
	 
	 	(c)	 	no amendment may reduce or eliminate any benefit which is a “Section
411(d)(6) Protected Benefit” except as permitted under applicable Treasury
Regulations.

     By deleting the first paragraph of Appendix B, page B-1 and substituting therefor the
following:

     Appendix B—Rules Applying To Participant Loans

     The Administrator of the Plan has adopted and maintains the rules and procedures set forth
below with respect to plan loans under Article 10 of the Plan.

     IN WITNESS WHEREOF, Countrywide Financial Corporation by its proper officers duly authorized
by its Board of Directors has caused this Amendment Number Five to be executed on this 23 day of
July, 2004.

	 	 	 	 	 
	 

	 	COUNTRYWIDE FINANCIAL CORPORATION.	 	 
	 
	 	 	 	 
	 

	 	/s/ LEORA GOREN
 

Leora Goren
	 	 
	 
	 	 	 	 
	 

	 	Managing Director Human Resources	 	 

	 	 	 	 	 
	Attest

	 	/s/ GERARD A. HEALY
 

Gerard A. Healy
	 	 
	 
	 	 	 	 
	 

	 	Assistant Secretary	 	 

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