Document:

asb8k090812_ex10-1.htm

    
      
         

      

      
         

        
          

        

      

      
         

        
          Exhibit
10.1

        

      

    

    SETTLEMENT
AGREEMENT AND MUTUAL RELEASE

    

    This
Settlement Agreement and Mutual Release (this “Agreement”) is
entered into this 6th day of
August, 2009 (the “Effective Date”) by
and between MEDOS Medizintechnik AG, a company organized under the laws of the
Federal Republic of Germany (“MEDOS”), and
AdvanSource Biomaterials Corporation, a Delaware corporation formerly known as
Cardiotech International, Inc. (“ASB”).

     

    WHEREAS,
MEDOS, Gish Biomedical, Inc. and ASB are parties to that certain Stock Purchase
Agreement dated as of June 30, 2007 (the “Purchase Agreement”)
pursuant to which ASB sold to MEDOS 100% of the issued and outstanding capital
stock of Gish; and

     

    WHEREAS,
section 2.5 of the Purchase Agreement provides for an adjustment to the purchase
price (“Purchase Price
Adjustment”) to be computed following the closing of the transactions
contemplated in the Purchase Agreement which took place on July 6, 2007 (the
“Closing”);
and

     

    WHEREAS,
following the Closing, a dispute arose between ASB and MEDOS concerning the
amount of the Purchase Price Adjustment and ASB filed a demand for arbitration
with the American Arbitration Association (the “Arbitration”) to
determine the amount of the Purchase Price Adjustment; and

    

    WHEREAS,
the Purchase Agreement contains certain obligations on the part of ASB to
indemnify MEDOS for losses relating to breaches of the representations and
warranties made by ASB in the Purchase Agreement (the “Indemnification
Obligations”); and

     

    WHEREAS,
in connection with the Purchase Agreement, ASB, MEDOS and Citizens Bank of
Massachusetts as escrow agent (the “Escrow Agent”) also
entered into that certain Escrow Agreement dated as of June 30, 2007 (the “Escrow Agreement”)
pursuant to which an escrow fund (the “Escrow Fund”) was
established to fund the Indemnification Obligations of ASB set forth in the
Purchase Agreement; and

     

    WHEREAS,
MEDOS asserted claims against ASB for various breaches of ASB’s Indemnification
Obligations and secured the release of the Escrow Fund; and

     

    WHEREAS,
a dispute has arisen between ASB and MEDOS as to the Indemnification
Obligations,  MEDOS’ entitlement to some or all of the Escrow Fund and
the circumstances in which MEDOS secured the release of the Escrow Fund;
and

     

    WHEREAS,
in connection with the Purchase Agreement, ASB and MEDOS entered into that
certain Make-Well Agreement dated as of June 30, 2007 (the “Salyer Make-Well
Agreement”) pursuant to which ASB agreed to reimburse MEDOS for certain
losses in connection with a third-party distribution agreement; and

     

    WHEREAS,
MEDOS has asserted a claim against ASB pursuant to the Salyer Make-Well
Agreement; and

     

    
      
        
          

          

          

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    WHEREAS,
parties have been engaged in discussions about settlement of, and ASB and MEDOS
deem it to be in their respective best interests to fully and finally resolve
and settle the aforementioned disputes and obligations concerning the Purchase
Price Adjustment, the Indemnification Obligations, the Escrow Agreement and the
Salyer Make-Well Agreement (collectively, the “Disputes”).

     

    NOW,
THEREFORE, in consideration of the mutual promises contained herein and for
other good consideration, the receipt and sufficiency of which are hereby
acknowledged by the parties hereto, the parties agree as follows:

     

    1.           Settlement
Payments.  In full and final settlement of the Disputes MEDOS
agrees to pay ASB the amount of $579,987 comprising $563,208 in principal and
$16,779 in interest having accrued at an annual rate of 3.25% from August 1,
2008 until June 30, 2009.  Payment shall be made in eight successive
monthly installments, the first of which shall amount to $87,180 (the “First Installment”)
within three business days after the Effective Date.  Thereafter,
MEDOS shall pay seven additional monthly installments of $70,401 in principal
together with interest at an annual rate of 3.25% having accrued in such month
on the remainder of the principal, as provided in the form of Promissory Note
attached as Exhibit A to this Agreement. Each of the seven installments shall be
paid on the first business day of the respective month, beginning on August 3,
2009.  All installment payments, including the First Installment,
shall be made by wire transfer to an ASB account in accordance with the
instructions set forth on Exhibit B to this Agreement.

     

    2.           Dismissal of
Arbitration.  Within three business days following the receipt
of the First Installment, the parties will execute and ASB will cause to be
filed a Stipulation of Dismissal With Prejudice of the Arbitration in the form
attached hereto as Exhibit C. 

     

    3.           Releases by ASB
Parties.  Subject to the reservations set forth in Section 6
below, ASB, its current and former subsidiaries, affiliates, predecessor or
successor corporations, and each of its and their respective current and former
officers, directors, employees, agents, representatives, auditors, consultants,
attorneys and assigns (the “ASB Parties”) hereby completely release and forever
discharge each of the MEDOS Parties (as such term is defined in Section 4 below)
of and from any and all past, present or future claims, demands, obligations,
actions, causes of action, orders, liens, judgments, executions, interest,
damages, multiple damages, punitive damages, costs, legal or accounting fees,
legal or accounting costs, expenses and compensation of any nature whatsoever,
in law or in equity,  arising out of or in connection with the
Purchase Agreement, the Escrow Agreement, the disbursement of the Escrow Fund or
the Salyer Make-Well Agreement, which any of the ASB Parties now has, or may
have had, from the beginning of the world to date.  

     

    4.           Releases by MEDOS
Parties. Subject to the reservations set forth in Section 6 below, MEDOS,
its current and former subsidiaries, affiliates, predecessor or successor
corporations, including, for the avoidance of doubt, its wholly-owned subsidiary
Gish Biomedical, Inc., and each of its and their respective current and former
officers, directors, employees, agents, representatives, auditors, consultants,
attorneys and assigns (the “MEDOS Parties”) hereby completely release and
forever discharge each of the ASB Parties of and from any and all past, present
or future claims, demands, obligations, actions, causes of action, orders,
liens, judgments, 

     

    
      
        
        

      

      
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    executions,
interest, damages, multiple damages, punitive damages, costs, legal or
accounting fees, legal or accounting costs, expenses and compensation of any
nature whatsoever, in law or in equity,  arising out of or in
connection with the Purchase Agreement, the Escrow Agreement, the disbursement
of the Escrow Fund or the Salyer Make-Well Agreement, which any of the MEDOS
Parties now has, or may have had, from the beginning of the world to
date.

     

    5.           Scope of Releases.
Each party further warrants, represents and agrees on behalf of itself and its
predecessors or successors that it is, and undertakes that its current and
former subsidiaries, affiliates, and each of its and their respective current
and former officers, directors, employees, agents, representatives, auditors,
consultants, attorneys and assigns are, fully aware of California Civil Code
Section 1542, which provides as follows:

     

    SEC.
1542.  GENERAL RELEASE.  A GENERAL RELEASE DOESNOT EXTEND TO
CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE
TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY
AFFECTED HIS SETTLEMENT WITH THE DEBTOR.

     

    Each
party on behalf of itself and its predecessor or successor corporations hereby
waives and relinquishes, and undertakes that its current and former
subsidiaries, affiliates, and each of its and their respective current and
former officers, directors, employees, agents, representatives, auditors,
consultants, attorneys and assigns hereby waive and relinquish, every right or
benefit that it now has or may have had under Section 1542 to the full extent
that it may lawfully waive such right or benefit with regard to the subject
matter of this Agreement through and including the date of this
Agreement.  In connection with such waiver and relinquishment, each
party acknowledges that it is aware that it might later discover facts in
addition to or different from those which it now knows or believes to be true
with respect to the subject matter of this Agreement, but that it is its
intention hereby fully, finally and forever to settle and release all matters,
known or unknown, suspected or unsuspected, which now exist, or previously
existed between or among the parties to the extent described in Sections 3. and
4. above.  This Agreement is intended to be and is final and binding,
regardless of any claims of misrepresentation, concealment of fact or mistake of
law or fact, and shall be and remain in effect as a full and complete release of
all such matters, notwithstanding the discovery or existence of any additional
or different claims or facts relative thereto.  In furtherance of such
intention, the releases given pursuant to this Agreement shall be, and shall
remain, in effect as a full and complete release, notwithstanding the discovery
or existence of any such additional or different facts.

     

    6.           Reservation of
Rights.  Notwithstanding the provisions of Sections 3. and 4.,
nothing in this Agreement shall (a) be deemed as a release, waiver or
modification of any of ASB’s obligations (or MEDOS’ obligations, rights and
remedies) under the Purchase Agreement with respect to sections 3.3, 3.10,
10.2(h), 10.2(i) or 11 of the Purchase Agreement or any of the parties’ or Gish
Biomedical, Inc.’s obligations, rights or remedies under that certain
Indemnification Agreement dated as of June 30, 2007 or under the letter
agreement, dated June 30, 2007 by and among ASB and Gish Biomedical, Inc., or
under that certain License

     

     

    
      
        
        

      

      
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    Agreement,
dated June 30, 2007, which provisions shall continue in full force and effect;
or (b) preclude either party hereto from seeking to enforce the terms of this
Agreement.

     

    7.           Confidentiality.  Each
party hereto agrees, for itself and its respective predecessors or successors,
that they and their representatives shall maintain in the strictest confidence,
and shall not disclose, all communications concerning, or the fact, terms and
conditions of, this Agreement.  Disclosure of the fact and terms of
this Agreement may only be made in the following circumstances: (a) to outside
counsel, independent accountants and auditors and insurers for the parties (but
only to the extent necessary and only upon receiving assurances that such
information will be kept strictly confidential and not disclosed to any other
person); (b) to the extent necessary to obtain the dismissal with prejudice of
the Arbitration; (c) to the extent necessary to enforce the terms and conditions
of this Agreement; or (d) to sastisfy any applicable disclosure requirements
with which either party must comply, or to any other person as may be required
by law, court process and/or at the request of a
governmental,  regulatory or self-regulatory authority. Each party
undertakes to take all reasonable and appropriate steps to ensure that its
current and former subsidiaries, affiliates, and each of its and their
respective current and former officers, directors, employees, agents,
representatives, auditors, consultants, attorneys and assigns, adhere to this
confidentiality obligation.

     

    8.           Miscellaneous.

     

    
      	
               
      

            	
              a.

            	
              It
      is expressly agreed by the parties that this Agreement is a compromise
      of  disputed claims and that the payments made hereunder are not
      be construed as an admission of liability or wrongdoing on the part of any
      of the other parties released, by whom liability is expressly
      denied.  The parties further agree that this Agreement shall not
      be admissible or offered or received into evidence in any suit, action or
      other proceeding except upon the written agreement of the affected parties
      or as may be necessary to enforce the terms of this
    Agreement.

            

    

     

    
      	
               
      

            	
              b.

            	
              The
      parties acknowledge that in entering into this Agreement they are relying
      on their own judgment, belief, and knowledge as to all aspects of their
      claims or potential claims against one another, and that they are not
      relying on any representation or statement made to one
      another.

            

    

     

    
      	
               
      

            	
              c.

            	
              It
      is further understood that this Agreement contains the entire agreement
      between the parties with regard to the matters set forth herein and shall
      be binding upon and inure to the benefit of the executors, administrators,
      personal representatives, heirs, successors and assigns of
      each.  The consideration recited in this Agreement is the sole
      consideration for this Agreement and no representations, promises, or
      inducements have been made by or to the parties hereto, or any of their
      representatives, except as appear in this Agreement.  No
      modification, variation, amendment, or waiver of all or any portion of
      this Agreement shall be valid unless in writing and signed by both
      parties.  Failure of any party to insist on strict compliance
      with any term hereof shall not be a waiver of such
  term.

            

    

     

    
      
        
        

      

      
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              d.

            	
              The
      parties hereto each represents and warrants that the person signing this
      Agreement is duly authorized and empowered to sign this Agreement on its
      behalf and on behalf of its respective subsidiaries and affiliates, and
      that this Agreement is a lawful and binding obligation of the parties,
      their subsidiaries and affiliates. The parties hereby represent and
      warrant that no other person or entity has, or had, any interest in the
      claims, demands, obligations, or causes of action referred to in this
      Agreement except as otherwise set forth herein or provided by law; that
      the parties have the sole right and exclusive authority to execute this
      Agreement and receive the sums specified in it; and that no party has sold,
      assigned, transferred, conveyed or otherwise disposed of any of the
      claims, demands, obligations or causes of action referred to in this
      Agreement.

            

    

     

    
      	
               
      

            	
              e.

            	
              This
      Agreement is to be governed by, and construed and enforced in accordance
      with, the laws of New York, without regard to its choice of law
      principles.

            

    

     

    
      	
               
      

            	
              f.

            	
              If
      any clause or provision of this Agreement is determined to be illegal,
      invalid, or unenforceable under any present or future law by the final
      judgment of a court of competent jurisdiction, the remainder of this
      Agreement will not be affected thereby.  It is the intention of
      the parties that if any such provision is held illegal, invalid, or
      unenforceable, there will be added in lieu thereof a provision, mutually
      agreeable to the parties, as similar in terms to that provision as is
      possible and be legal, valid, and
enforceable.

            

    

     

    
      	
               
      

            	
              g.

            	
              Before
      and at all times following the execution hereof, the parties to this
      Agreement agree to cause to be executed and delivered those documents and
      to do, or cause to be done, such other acts and things as might reasonably
      be requested to assure that the benefits of this Agreement are realized by
      the parties.

            

    

     

    
      	
               
      

            	
              h.

            	
              Each
      of the parties hereto shall pay its own fees and expenses (including the
      fees of any attorneys or others engaged by such party and their respective
      shares of any Arbitration-related fees and expenses incurred through the
      Effective Date) in connection with this Agreement.  In addition,
      the parties agree to pay their respective shares of any
      Arbitration-related fees that may be incurred following the Effective
      Date.

            

    

     

    
      	
               
      

            	
              i.

            	
              This
      Agreement may be signed in any number of counterparts, each of which shall
      constitute an original and all of which, when taken together, shall
      constitute one agreement.

            

    

     

    

     

    [Signatures
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    IN
WITNESS WHEREOF, the parties have executed this Agreement this 6th day of
August 2009.

     

    

    

    MEDOS
Medizintechnik AG

    

    

    By: /s/ Guido
Bollou                                                                           

    

    

    AdvanSource
Biomaterials Corporation

    

    

    By: /s/ Michael F.
Adams                                                                

    
      
        
           

          

          

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    Exhibit
A

    

    Form of Promissory
Note

    

    

    $492,807                                                                                                           August
6, 2009

    

    

    For value received, MEDOS
Medizintechnik AG, a company organized under the laws of the Federal Republic of
Germany, having its business address at Obere Steinfurt 8-10, 52222 Stolberg,
Germany (“MEDOS”), hereby promises to pay to AdvanSource Biomaterials
Corporation (“ASB), by wire transfer in accordance with the instructions
attached to this Note, or to such other address as may be designated in writing
by ASB, the original principal amount of Four Hundred Ninety Two Eight Hundred
Seven Dollars ($492,807), together with interest in accordance with the schedule
set forth below, in lawful money of the United States on or before February 1,
2010 (the “Maturity
Date”).

    

    MEDOS shall make the following payments
to ASB, which payments shall be applied to reduce the amounts due under this
Note:

    

     

    On or
before August 6, 2009, MEDOS shall pay to ASB the principal amount of $70,401,
together with interest in the amount of $1334.69;

     

    On or
before September 1, 2009, MEDOS shall pay to ASB the principal amount of
$70,401, together with interest in the amount of $ 1144.02;

     

    On or
before October 1, 2009, MEDOS shall pay to ASB the principal amount of $70,401,
together with interest in the amount of $953.35;

     

    On or
before November 2, 2009, MEDOS shall pay to ASB the principal amount of $70,401,
together with interest in the amount of $762.68;

     

    On or
before December 1, 2009, MEDOS shall pay to ASB the principal amount of $70,401,
together with interest in the amount of $572;

     

    On or
before January 4, 2010, MEDOS shall pay to ASB the principal amount of $70,401,
together with interest in the amount of $381.34; and

     

    On or
before the Maturity Date, MEDOS shall pay to ASB the principal amount of
$70,401, together with interest in the amount of $190.67.

     

    All
payments made by MEDOS to ASB shall be in lawful money of the United States in
immediately available funds.

    

    

    Upon the
occurrence of an Event of Default (as defined below) or after maturity or after
judgment has been rendered on this Note, the unpaid principal balance of this
Note shall be

    
      
         

      

      
         

        
          

        

      

      
         

      

       

      immediately
due and payable, and shall bear interest at a rate which is equal to the lesser
of (i) nine percent (9%) per annum or (ii) the maximum interest rate permitted
by law (the “Default
Rate”).

    

    

     

    MEDOS
further promises to pay to ASB, as incurred, and as an additional part of the
unpaid principal balance, all reasonable costs, expenses and reasonable
attorneys’ fees incurred (i) in the protection, modification, collection,
defense or enforcement of all or part of this Note or any guaranty hereof, or
(ii) with respect to any litigation or controversy arising from or connected
with this Note or mortgage or security agreement or collateral which may now or
hereafter secure this Note, or (iii) with respect to any act to protect, defend,
modify, enforce or release any of its rights or remedies with regard to, or
otherwise effect collection of, any collateral which may now or in the future
secure this Note or with regard to or against MEDOS or any endorser, guarantor
or surety of this Note.

     

    The
outstanding principal balance of this Note may be prepaid, in whole or in part,
without any prepayment fee or premium, with interest at a rate per annum of
3.25% on the outstanding principal balance of this Note through the date of such
prepayment, such interest to be computed on the basis of actual days
elapsed.

    

    The
failure to make any payment of principal or interest or any other amount due
under this Note within ten (10) days of when the same shall be due and payable,
or the initiation of insolvency or bankruptcy proceedings by or against MEDOS or
any subsidiary or affiliate of MEDOS shall be deemed an “Event of
Default”.

     

    MEDOS
agrees that no delay or failure on the part of the holder in exercising any
power, privilege, remedy, option or right hereunder shall operate as a waiver
thereof or of any other power, privilege, remedy or right; nor shall any single
or partial exercise of any power, privilege, remedy, option or right hereunder
preclude any other or future exercise thereof or the exercise of any other
power, privilege, remedy, option or right.  The rights and remedies
expressed herein are cumulative, and may be enforced successively, alternately,
or concurrently and are not exclusive of any rights or remedies which holder may
or would otherwise have under the provisions of all applicable laws, and under
the provisions of all agreements between MEDOS and ASB.

     

    MEDOS
further agrees that it shall have no lien or right of setoff against any amounts
due to ASB under this Note for any claims it may have or assert in the future
against ASB.

     

    MEDOS
hereby waives demand, notice, protest and all other demands and notices in
connection with the delivery, acceptance, performance, default or enforcement of
this Note; and MEDOS hereby assents to any extension or postponement of the time
of payment or any other indulgence, to the addition or release of any party or
person primarily or secondarily liable, and to the addition, release and/or
substitution of all or any portion of any collateral now or hereafter securing
this Note.

     

    If any
provision of this Note shall, any extent be held invalid or unenforceable, then
only such provisions shall be deemed ineffective and the remainder of this Note
shall not be affected.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    The
liabilities of MEDOS and any endorser or guarantor of this Note are joint and
several; provided, however, that the
release by ASB of MEDOS or any one or more endorser or guarantor shall not
release any other person obligated on account of this Note.

     

    MEDOS AND
ASB MUTUALLY HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT TO
A TRIAL BY JURY IN RESPECT OF ANY CLAIM BASED HEREON, ARISING OUT OF, UNDER OR
IN CONNECTION WITH THIS NOTE.

     

    MEDOS
hereby agrees that the United States District Court for the Southern District of
New York or, if jurisdiction shall not be had there, the Supreme Court of the
State of New York, shall have exclusive jurisdiction to hear and determine any
claims or disputes between MEDOS and any endorser or guarantor, on one hand, and
ASB on the other hand, pertaining directly or indirectly to this Note or to any
matter arising in connection with this Note.  MEDOS (and any such
endorser or guarantor) expressly submits and consents in advance to such
jurisdiction in any action or proceeding commenced in such courts, hereby
waiving personal service of the summons and complaint, or other process or
papers issued therein, and agreeing that service of such summons and complaint,
or other process or papers, may made by registered or certified mail addressed
to MEDOS at the address set forth herein.  Should MEDOS (or any such
endorser or guarantor) fail to appear or answer any summons, complaint, process
or papers so served with in thirty (30) days after the mailing thereof, it shall
be deemed in default and an order and/or jurisdiction may be entered against it
as demanded or prayed for in such summons, complaint, process or
papers.  The exclusive choice of forum set forth herein shall not be
deemed to preclude the enforcement of any judgment obtained in such forum or the
taking of any action under this Note to enforce the same in any appropriate
jurisdiction.

     

    This Note is executed as a sealed
instrument and shall be governed by and construed in accordance with the laws of
the State of New York.

    

    MEDOS
Medizintechnik
AG                                                                                     Witness

    

    

    By: /s/ Guido
Bollou                                                                                     

    

    

    

    

    
      
        
          

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    Exhibit
B

    

    [ASB Wire
Instructions]

    

    

    Citizens
Bank- AdvanSource Biomaterials Corporation

    Routing
number is 211070175

    Account
number is 1133243301

    

    
      
        
          

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    Exhibit
C

    

    [STIPULATION
OF DISCONTINUANCE WITH PREJUDICE]

    
      	
              FK1
      62575.7 780009 000001 11.07.2009
08:17pm

            

    

    

    

    
      
        
          

          BO1
15992722.2EXHIBIT 10.1

        

        TAX MATTERS AGREEMENT

        By and Between

        OCWEN FINANCIAL CORPORATION

        and

        ALTISOURCE SOLUTIONS S.À R.L.

        Dated as of August 10, 2009

        

        

        

        TABLE OF CONTENTS

        	
                     

                	
                     

                	
                     

                	
                     

                	
                     

                	
                     

                	
                     

                
	
                     

                	
                     

                	
                     

                	
                     

                	
                     

                	
                     

                	
                    Page

                
	
                     

                	
                     

                	
                     

                	
                     

                	
                     

                	
                     

                	
                     

                
	
                    ARTICLE I

                	
                     

                	
                    DEFINITION OF TERMS

                	
                     

                	
                    1

                
	
                    ARTICLE II

                	
                     

                	
                    ALLOCATION OF TAX LIABILITIES

                	
                     

                	
                    8

                
	
                     

                	
                    SECTION 2.01

                	
                    General Rule

                	
                    8

                
	
                     

                	
                    SECTION 2.02

                	
                    Allocations of Taxes

                	
                    8

                
	
                     

                	
                    SECTION 2.03

                	
                    Certain Transaction and Other Taxes

                	
                    9

                
	
                    ARTICLE III

                	
                     

                	
                    PRORATION OF TAX ITEMS

                	
                     

                	
                    9

                
	
                    ARTICLE IV

                	
                     

                	
                    PREPARATION AND FILING OF TAX RETURNS

                	
                     

                	
                    10

                
	
                     

                	
                    SECTION 4.01

                	
                    General

                	
                    10

                
	
                     

                	
                    SECTION 4.02

                	
                    OFC’s Responsibility

                	
                    10

                
	
                     

                	
                    SECTION 4.03

                	
                    Altisource’s Responsibility

                	
                    10

                
	
                     

                	
                    SECTION 4.04

                	
                    Tax Accounting Practices

                	
                    10

                
	
                     

                	
                    SECTION 4.05

                	
                    Consolidated or Combined Tax Returns

                	
                    11

                
	
                     

                	
                    SECTION 4.06

                	
                    Right To Review Tax Returns

                	
                    11

                
	
                     

                	
                    SECTION 4.07

                	
                    Altisource Carrybacks and Claims for Refund

                	
                    12

                
	
                     

                	
                    SECTION 4.08

                	
                    Apportionment of Earnings and Profits and Tax Attributes

                	
                    12

                
	
                    ARTICLE V

                	
                     

                	
                    TAX PAYMENTS

                	
                     

                	
                    12

                
	
                     

                	
                    SECTION 5.01

                	
                    Payment of Taxes With Respect to Tax Returns Reflecting Taxes of the Other Company

                	
                    12

                
	
                     

                	
                    SECTION 5.02

                	
                    Indemnification Payments

                	
                    13

                
	
                    ARTICLE VI

                	
                     

                	
                    TAX BENEFITS

                	
                     

                	
                    13

                
	
                     

                	
                    SECTION 6.01

                	
                    Tax Refunds in General

                	
                    13

                
	
                     

                	
                    SECTION 6.02

                	
                    Timing Differences and Reverse Timing Differences

                	
                    14

                
	
                     

                	
                    SECTION 6.03

                	
                    Altisource Carrybacks

                	
                    15

                
	
                    ARTICLE VII

                	
                     

                	
                    TAX-FREE STATUS

                	
                     

                	
                    15

                
	
                     

                	
                    SECTION 7.01

                	
                    Tax Opinions and Representation Letters

                	
                    15

                
	
                     

                	
                    SECTION 7.02

                	
                    Restrictions on Altisource

                	
                    15

                
	
                     

                	
                    SECTION 7.03

                	
                    Liability for Tax-Related Losses

                	
                    18

                
	
                    ARTICLE VIII

                	
                     

                	
                    ASSISTANCE AND COOPERATION

                	
                     

                	
                    18

                
	
                     

                	
                    SECTION 8.01

                	
                    Assistance and Cooperation

                	
                    18

                
	
                     

                	
                    SECTION 8.02

                	
                    Income Tax Return Information

                	
                    19

                

        -i-

        

        

        

        TABLE OF CONTENTS

        (continued)

        	
                     

                	
                     

                	
                     

                	
                     

                	
                     

                	
                     

                	
                     

                
	
                     

                	
                     

                	
                     

                	
                     

                	
                     

                	
                     

                	
                    Page

                
	
                     

                	
                     

                	
                     

                	
                     

                	
                     

                	
                     

                	
                     

                
	
                     

                	
                    SECTION 8.03

                	
                    Reliance

                	
                    19

                
	
                    ARTICLE IX

                	
                     

                	
                    TAX RECORDS

                	
                     

                	
                    20

                
	
                     

                	
                    SECTION 9.01

                	
                    Retention of Tax Records

                	
                    20

                
	
                     

                	
                    SECTION 9.02

                	
                    Access to Tax Records

                	
                    20

                
	
                    ARTICLE X

                	
                     

                	
                    TAX CONTESTS

                	
                     

                	
                    20

                
	
                     

                	
                    SECTION 10.01

                	
                    Notice

                	
                    20

                
	
                     

                	
                    SECTION 10.02

                	
                    Control of Tax Contests

                	
                    21

                
	
                    ARTICLE XI

                	
                     

                	
                    EFFECTIVE DATE; TERMINATION OF PRIOR INTERCOMPANY TAX ALLOCATION AGREEMENTS

                	
                     

                	
                    21

                
	
                    ARTICLE XII

                	
                     

                	
                    SURVIVAL OF OBLIGATIONS

                	
                     

                	
                    21

                
	
                    ARTICLE XIII

                	
                     

                	
                    TREATMENT OF PAYMENTS; TAX GROSS UP

                	
                     

                	
                    22

                
	
                     

                	
                    SECTION 13.01

                	
                    Treatment of Tax Indemnity and Tax Benefit Payments

                	
                    22

                
	
                     

                	
                    SECTION 13.02

                	
                    Tax Gross Up

                	
                    22

                
	
                     

                	
                    SECTION 13.03

                	
                    Interest Under This Agreement

                	
                    22

                
	
                    ARTICLE XIV

                	
                     

                	
                    DISAGREEMENTS

                	
                     

                	
                    23

                
	
                    ARTICLE XV

                	
                     

                	
                    LATE PAYMENTS

                	
                     

                	
                    23

                
	
                    ARTICLE XVI

                	
                     

                	
                    EXPENSES

                	
                     

                	
                    23

                
	
                    ARTICLE XVII

                	
                     

                	
                    GENERAL PROVISIONS

                	
                     

                	
                    24

                
	
                     

                	
                    SECTION 17.01

                	
                    Addresses and Notices

                	
                    24

                
	
                     

                	
                    SECTION 17.02

                	
                    Binding Effect

                	
                    24

                
	
                     

                	
                    SECTION 17.03

                	
                    Waiver

                	
                    24

                
	
                     

                	
                    SECTION 17.04

                	
                    Severability

                	
                    24

                
	
                     

                	
                    SECTION 17.05

                	
                    Authority

                	
                    25

                
	
                     

                	
                    SECTION 17.06

                	
                    Further Action

                	
                    25

                
	
                     

                	
                    SECTION 17.07

                	
                    Integration

                	
                    25

                
	
                     

                	
                    SECTION 17.08

                	
                    Construction

                	
                    25

                
	
                     

                	
                    SECTION 17.09

                	
                    No Double Recovery

                	
                    25

                
	
                     

                	
                    SECTION 17.10

                	
                    Counterparts

                	
                    25

                
	
                     

                	
                    SECTION 17.11

                	
                    Governing Law

                	
                    26

                
	
                     

                	
                    SECTION 17.12

                	
                    Jurisdiction

                	
                    26

                

        -ii-

        

        

        

        TABLE OF CONTENTS

        (continued)

        	
                     

                	
                     

                	
                     

                	
                     

                	
                     

                	
                     

                	
                     

                
	
                     

                	
                     

                	
                     

                	
                     

                	
                     

                	
                     

                	
                    Page

                
	
                     

                	
                     

                	
                     

                	
                     

                	
                     

                	
                     

                	
                     

                
	
                     

                	
                    SECTION 17.13

                	
                    Amendment

                	
                    26

                
	
                     

                	
                    SECTION 17.14

                	
                    Altisource Subsidiaries

                	
                    26

                
	
                     

                	
                    SECTION 17.15

                	
                    Successors

                	
                    26

                
	
                     

                	
                    SECTION 17.16

                	
                    Injunctions

                	
                    26

                

        -iii-

        

        

        

                       TAX MATTERS AGREEMENT (this “Agreement”) entered into as of August 10, 2009, by and between OCWEN FINANCIAL CORPORATION, a Florida corporation (“OFC”), and ALTISOURCE SOLUTIONS S.À R.L., a private limited liability company organized under the laws of the Grand Duchy of Luxembourg and an indirect wholly-owned subsidiary
        of OFC (“Altisource”).

                       WHEREAS, the board of directors of OFC has determined that it is in the best interests of OFC and its shareholders to separate the Altisource Business (as defined below) from OFC.

                       WHEREAS, as of the date hereof, OFC is the common parent of an affiliated group of corporations, including Altisource, which has elected to file consolidated United States Federal income tax returns;

                       WHEREAS, OFC and Altisource have entered into the Separation Agreement (as defined below), pursuant to which OFC agreed to contribute and otherwise transfer to Altisource, and Altisource agreed to receive and assume, the assets and liabilities then associated with the Altisource Business.

                       WHEREAS, OFC intends to distribute to shareholders of OFC all the outstanding shares of Altisource Capital Stock;

                       WHEREAS, pursuant to the Distribution (as defined in the Separation Agreement), Altisource and its subsidiaries will cease to be members of the affiliated group (as that term is defined in Section 1504 of the Code (as defined below)) of which OFC is the common parent; and

                       WHEREAS the Companies (as defined below) desire to provide for and agree upon the allocation between the Companies of liabilities for Taxes (as defined below) arising prior to, as a result of, and subsequent to the Distribution, and to provide for and agree upon other matters relating to Taxes.

                       NOW, THEREFORE, in consideration of the mutual agreements contained herein, the Companies hereby agree as follows:

        ARTICLE I

        Definition of Terms

                       For purposes of this Agreement (including the recitals hereof), the following terms have the following meanings, and capitalized terms used but not otherwise defined herein shall have the meaning ascribed to them in the Separation Agreement:

                       “Accountant” shall have the meaning set forth in Section 8.02(b).

                       “Accounting Cutoff Date” means, with respect to Altisource, any date as of the end of which there is a closing of the financial accounting records for Altisource.

        

        

        

                       “Active Trade or Business” means the active conduct (within the meaning of Section 355(b) of the Code and the regulations thereunder) by Altisource of the Altisource Business.

                       “Adjustment Request” means any formal or informal claim or request filed with any Tax Authority, or with any administrative agency or court, for the adjustment, refund or credit of Taxes, including (a) any amended Tax Return claiming adjustment to the Taxes as reported on the Tax Return or, if applicable, as previously adjusted, (b) any claim for
        equitable recoupment or other offset and (c) any claim for refund or credit of Taxes previously paid.

                       “Affiliate” means any entity that is directly or indirectly “controlled” by either the person in question or an Affiliate of such person. For purposes of the definition of “Affiliate,” “control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and
        policies of a person, whether through ownership of voting securities, by contract or otherwise.

                       “Agreement” shall have the meaning provided in the first sentence of this Agreement.

                       “Altisource” shall have the meaning provided in the first sentence of this Agreement.

                       “Altisource Affiliated Group” shall have the meaning provided in the definition of “Altisource Federal Consolidated Income Tax Return.”

                       “Altisource Business” means the knowledge process outsourcing business, as defined in the Separation Agreement.

                       “Altisource Capital Stock” means all classes or series of capital stock of Altisource, including (i) the Altisource Common Stock, (ii) all options, warrants and other rights to acquire such capital stock and (iii) all instruments properly treated as stock in Altisource for U.S. Federal income tax purposes.

                       “Altisource Carryback” means any net operating loss, net capital loss, excess tax credit or other similar Tax item of any member of the Altisource Group that may or must be carried from one Tax Period to another prior Tax Period under the Code or other applicable Tax Law.

                       “Altisource Common Stock” has the meaning set forth in the Separation and Distribution Agreement.

                       “Altisource Federal Consolidated Income Tax Return” means any United States (or any foreign country) Federal income Tax Return for the affiliated group (as that term is defined in Section 1504 of the Code) of which Altisource (or a subsidiary thereof) is the common parent (the “Altisource Affiliated Group”).

                       “Altisource Group” means Altisource and its Subsidiaries, as determined immediately after the Distribution.

        2

        

        

        

                       “Altisource Separate Return” means any Separate Return of Altisource or any member of the Altisource Group.

                       “Ancillary Agreements” means the Employee Matters Agreement, the Transition Services Agreement, the Tax Matters Agreement, the Intellectual Property Agreement, the Data Center and Disaster Recovery Agreement, the Services Agreements and any instruments, assignments and other documents and agreements executed in connection with the implementation
        of the transactions contemplated by the Separation Agreement, including Article II.

                       “Base Rate” shall be the rate as set forth in Article XV.

                       “Board Certificate” shall have the meaning set forth in Section 7.02(d).

                       “Closing Date” means the date of the Distribution.

                       “Code” means the U.S. Internal Revenue Code of 1986, as amended.

                       “Companies” means OFC and Altisource, collectively, and “Company,” as the context requires, means either OFC or Altisource.

                       “Contribution” means the contribution of assets and liabilities by OFC itself directly to Altisource itself pursuant to Sections 2.01, 2.02, 2.03, 2.04 and 2.05 of the Separation Agreement.

                       “Distribution” has the meaning set forth in the Separation Agreement.

                       “Distribution-Related Proceeding” means any Tax Contest in which the IRS, another Tax Authority or any other party asserts a position that could reasonably be expected to adversely affect the Tax-Free Status.

                       “Fifty-Percent or Greater Interest” shall have the meaning ascribed to such term for purposes of Sections 355(d) and (e) of the Code.

                       “Filing Date” shall have the meaning set forth in Section 7.03(c).

                       “Final Determination” means the final resolution of liability for any Tax, which resolution may be for a specific issue or adjustment or for a taxable period, (a) by IRS Form 870 or 870-AD (or any successor forms thereto), on the date of acceptance by or on behalf of the taxpayer, or by a comparable form under the laws of a State, local, or
        foreign taxing jurisdiction, except that a Form 870 or 870-AD or comparable form shall not constitute a Final Determination to the extent that it reserves (whether by its terms or by operation of law) the right of the taxpayer to file a claim for refund or the right of the Tax Authority to assert a further deficiency in respect of such issue or adjustment or for such taxable period (as the case may be); (b) by a decision, judgment, decree or other order by a court of competent
        jurisdiction, which has become final and unappealable; (c) by a closing agreement or accepted offer in compromise under Sections 7121 or 7122 of the Code, or a comparable agreement under the laws of a State, local or foreign taxing jurisdiction; (d) by any allowance of a refund or credit in respect of an overpayment of Tax, but only after the expiration of all periods during which such refund may be recovered (including by way of offset) by the jurisdiction imposing such Tax; (e) by a
        final settlement resulting from a treaty-based competent authority determination; or (f) by any other final disposition, including by reason of the expiration of the applicable statute of limitations or by mutual agreement of the parties.

        3

        

        

        

                       “Group” means the OFC Group or the Altisource Group, or both, as the context requires.

                       “High-Level Dispute” means any dispute or disagreement (a) relating to liability under Section 7.03 of this Agreement or (b) in which the amount of the liability in dispute exceeds $2 million.

                       “Indemnitee” shall have the meaning set forth in Section 13.03.

                       “Indemnitor” shall have the meaning set forth in Section 13.03.

                       “IRS” means the United States Internal Revenue Service.

                       “Joint Return” means any Tax Return that includes at least one member of the OFC Group and at least one member of the Altisource Group.

                       “Notified Action” shall have the meaning set forth in Section 7.02(e).

                       “OFC” shall have the meaning provided in the first sentence of this Agreement.

                       “OFC Affiliated Group” shall have the meaning provided in the definition of “OFC Federal Consolidated Income Tax Return.”

                       “OFC Federal Consolidated Income Tax Return” means any United States Federal income Tax Return for the affiliated group (as that term is defined in Section 1504 of the Code and the regulations thereunder) of which OFC is the common parent (the “OFC Affiliated Group”).

                       “OFC Group” means OFC and its Subsidiaries, excluding any entity that is a member of the Altisource Group.

                       “OFC Separate Return” means any Separate Return of OFC or any member of the OFC Group.

                       “OFC State Combined Income Tax Return” means a consolidated, combined or unitary State Income Tax Return that actually includes, by election or otherwise, one or more members of the OFC Group together with one or more members of the Altisource Group.

                       “Past Practices” shall have the meaning set forth in Section 4.04(a).

                       “Payment Date” means (i) with respect to any OFC Federal Consolidated Income Tax Return, the due date for any required installment of estimated taxes determined under Section 6655 of the Code, the due date (determined without regard to extensions) for filing the return determined under Section 6072 of the Code, and the date the return is filed,
        and (ii) with respect to any other Tax Return, the corresponding dates determined under the applicable Tax Law.

        4

        

        

        

                       “Person” means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock company, a trust, a joint venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof, without regard to whether any entity is treated as disregarded for U.S.
        Federal income tax purposes.

                       “Post-Closing Period” means any Tax Period that, to the extent it relates to a member of the Altisource Group, begins after the Closing Date.

                       “Pre-Closing Period” means any Tax Period that, to the extent it relates to a member of the Altisource Group, ends on or before the Closing Date.

                       “Privilege” means any privilege that may be asserted under applicable law, including any privilege arising under or relating to the attorney-client relationship (including the attorney-client and work product privileges), the accountant-client privilege and any privilege relating to internal evaluation processes.

                       “Proposed Acquisition Transaction” means a transaction or series of transactions (or any agreement, understanding or arrangement, within the meaning of Section 355(e) of the Code and Treasury Regulation Section 1.355-7, or any other regulations promulgated thereunder, to enter into a transaction or series of transactions), whether such
        transaction is supported by Altisource management or shareholders, is a hostile acquisition, or otherwise, as a result of which Altisource would merge or consolidate with any other Person or as a result of which one or more Persons would (directly or indirectly) acquire, or have the right to acquire, from Altisource and/or one or more holders of outstanding shares of Altisource Capital Stock, a number of shares of Altisource Capital Stock that would, when combined with any other changes
        in ownership of Altisource Capital Stock pertinent for purposes of Section 355(e) of the Code, comprise 40% or more of (A) the value of all outstanding shares of stock of Altisource as of the date of such transaction, or in the case of a series of transactions, the date of the last transaction of such series, or (B) the total combined voting power of all outstanding shares of voting stock of Altisource as of the date of such transaction or, in the case of a series of transactions, the
        date of the last transaction of such series. Notwithstanding the foregoing, a Proposed Acquisition Transaction shall not include (A) the adoption by Altisource of a shareholder rights plan or (B) issuances by Altisource that satisfy Safe Harbor VIII (relating to acquisitions in connection with a person’s performance of services) or Safe Harbor IX (relating to acquisitions by a retirement plan of an employer) of Treasury Regulation Section 1.355-7(d). For purposes of determining
        whether a transaction constitutes an indirect acquisition, any recapitalization resulting in a shift of voting power or any redemption of shares of stock shall be treated as an indirect acquisition of shares of stock by the non-exchanging shareholders. This definition and the application thereof is intended to monitor compliance with Section 355(e) of the Code and shall be interpreted accordingly. Any clarification of, or change in, the statute or regulations promulgated under Section
        355(e) of the Code shall be incorporated in this definition and its interpretation.

        5

        

        

        

                       “Representation Letters” means the representation letters and any other materials delivered or deliverable by OFC, Altisource or others in connection with the rendering by Tax Advisors of any opinions in connection with the Transactions.

                       “Responsible Company” means, with respect to any Tax Return, the Company having responsibility for preparing and filing such Tax Return under this Agreement.

                       “Ruling” means any private letter ruling issued by the IRS in connection with the Transactions or any similar ruling (including any supplemental ruling) issued by any Tax Authority other than the IRS in connection with the Transactions.

                       “Section 7.02(d) Acquisition Transaction” means any transaction or series of transactions that is not a Proposed Acquisition Transaction but would be a Proposed Acquisition Transaction if the percentage reflected in the definition of Proposed Acquisition Transaction were 25% instead of 40%.

                       “Separate Return” means (a) in the case of any Tax Return of any member of the Altisource Group (including any consolidated, combined or unitary return), any such Tax Return that does not include any member of the OFC Group and (b) in the case of any Tax Return of any member of the OFC Group (including any consolidated, combined or unitary
        return), any such Tax Return that does not include any member of the Altisource Group.

                       “Separation Agreement” means the Separation and Distribution Agreement, as amended from time to time, by and between OFC and Altisource dated as of August 10, 2009.

                       “Signing Group” shall have the meaning set forth in Section 8.03.

                       “State Income Tax” means any Tax imposed by any State of the United States or by any political subdivision of any such State (or by the District of Columbia) that is imposed on or measured by net income, including state and local franchise or similar Taxes measured by net income, and any interest, penalties, additions to tax or additional amounts
        in respect of the foregoing.

                       “Supplier Group” shall have the meaning set forth in Section 8.03.

                       “Tax” or “Taxes” means any income, gross income, gross receipts, profits, capital stock, franchise, withholding, payroll, social security, workers compensation, unemployment, disability, property, ad valorem, stamp, excise, severance, occupation, service, sales, use, license, lease, transfer, import, export, value added,
        alternative minimum, estimated or other tax (including any fee, assessment or other charge in the nature of or in lieu of any tax) imposed by any governmental entity or political subdivision thereof, and any interest, penalties, additions to tax, or additional amounts in respect of the foregoing.

                       “Tax Advisor” means a United States tax counsel or accountant of recognized national standing.

                       “Tax Arbitrator” shall have the meaning set forth in Article XIV.

        6

        

        

        

                       “Tax Arbitrator Dispute” shall have the meaning set forth in Article XIV.

                       “Tax Attribute” or “Attribute” means a net operating loss, net capital loss, unused investment credit, unused foreign tax credit, excess charitable contribution, general business credit, Tax basis or any other Tax Item that could reduce a Tax.

                       “Tax Authority” means, with respect to any Tax, the governmental entity or political subdivision thereof that imposes such Tax, and the agency (if any) charged with the collection of such Tax for such entity or subdivision.

                       “Tax Benefit” means any refund, credit or other reduction in otherwise required Tax payments.

                       “Tax Contest” means an audit, review, examination or other administrative or judicial proceeding with the purpose or effect of redetermining Taxes (including any administrative or judicial review of any claim for refund).

                       “Tax Detriment” means any increase in required Tax payments (or, without duplication, the reduction in any refund or credit).

                       “Tax-Free Status” means the qualifications of (i) the Distribution and Contribution, taken together, as a reorganization described in Sections 355(a) and 368(a)(1)(D) of the Code, and (ii) the Transactions in which OFC, Altisource and the shareholders of OFC recognize no income or gain for U.S. federal income tax purposes, other than in the case
        of the shareholders of OFC, to the extent of any cash received in exchange for fractional shares, and in the case of OFC, taxation under Section 367 of the Code.

                       “Tax Item” means, with respect to any income Tax, any item of income, gain, loss, deduction or credit.

                       “Tax Law” means the law of any governmental entity or political subdivision thereof relating to any Tax.

                       “Tax Opinions” means the opinions of Tax Advisors deliverable to OFC in connection with the Transactions.

                       “Tax Period” means, with respect to any Tax, the period for which the Tax is reported as provided under the Code or other applicable Tax Law.

                       “Tax Records” means Tax Returns, Tax Return workpapers, documentation relating to any Tax Contests and any other books of account or records required to be maintained under the Code or other applicable Tax Laws or under any record retention agreement with any Tax Authority.

                       “Tax-Related Losses” means (i) all Federal, state and local Taxes (including interest and penalties thereon) imposed pursuant to any settlement, Final Determination, judgment or otherwise; (ii) all reasonable accounting, legal and other professional fees and court costs incurred in connection with such Taxes; and (iii) all reasonable costs and
        expenses and all damages associated with shareholder litigation or controversies and any amount paid by OFC (or any Affiliate of OFC) or Altisource (or any Affiliate of Altisource) in respect of the liability of shareholders, whether paid to shareholders or to the IRS or any other Tax Authority, in each case, resulting from the failure of the Transactions to have Tax-Free Status.

        7

        

        

        

                       “Tax Return” or “Return” means any report of Taxes due, any claim for refund of Taxes paid, any information return with respect to Taxes, or any other similar report, statement, declaration or document required to be filed under the Code or other Tax Law, including any attachments, exhibits or other materials submitted with any
        of the foregoing, and including any amendments or supplements to any of the foregoing.

                       “Transactions” means the Distribution, Contribution and the other transactions contemplated by the Separation Agreement.

                       “Treasury Regulations” means the regulations promulgated from time to time under the Code as in effect for the relevant Tax Period.

                       “Unqualified Tax Opinion” means an opinion of a Tax Advisor, which Tax Advisor is reasonably acceptable to OFC, on which OFC may rely to the effect that a transaction will not affect the Tax-Free Status. Any such opinion must assume that the Transactions would have qualified for Tax-Free Status if the transaction in question did not
        occur.

        ARTICLE II

        Allocation of Tax Liabilities

                       SECTION 2.01 General Rule. (a) OFC Liability. OFC shall be liable for, and shall indemnify and hold harmless the Altisource Group from and against any liability for, Taxes that are allocated to OFC under this Article II.

                       (b)   Altisource Liability. Altisource shall be liable for, and shall indemnify and hold harmless the OFC Group from and against any liability for, Taxes that are allocated to Altisource under this Article II.

                       SECTION 2.02 Allocations of Taxes. Except as provided in Section 2.03, Taxes shall be allocated as follows:

                       (a)   Allocation of Taxes to OFC. OFC shall be responsible for:

                     (i)     any and all Taxes due or required to be reported on any Joint Return or OFC Separate Return (including any increase in such Tax as a result of a Final Determination); and

                       (b)   Allocation of Taxes to Altisource. Altisource shall be responsible for any and all Taxes due or required to be reported on any Altisource Separate Return (including any increase in such Tax as a result of a Final Determination)

        8

        

        

        

                       SECTION 2.03 Certain Transaction and Other Taxes. (a) Altisource Liability. Altisource shall be liable for, and shall indemnify and hold harmless the OFC Group from and against any liability for:

                     (i)     any Tax resulting from a breach by Altisource of any covenant in this Agreement, the Separation Agreement or any Ancillary Agreement; and

                     (ii)     any Tax-Related Losses for which Altisource is responsible pursuant to Section 7.03

                       (b)   OFC Liability. OFC shall be liable for, and shall indemnify and hold harmless the Altisource Group from and against any liability for:

                     (i)     any Taxes imposed pursuant to Treasury Regulation Section 1.1502-6 (or any similar provision of foreign, State or local Tax law) on any member of the Altisource Group solely as a result of such member’s being a member of the OFC Affiliated Group (or similar group under foreign, State or local Tax law);

                     (ii)    any Taxes imposed pursuant to Section 367 of the Code and the Treasury Regulations thereunder as a consequence of the Transactions;

                     (iii)   any Tax resulting from a breach by OFC of any covenant in this Agreement, the Separation Agreement or any Ancillary Agreement; and

                     (iv)     any Tax-Related Losses for which OFC is responsible pursuant to Section 7.03.

        ARTICLE III

        Proration of Tax Items

                       (a)   General Method of Proration. Tax Items shall be apportioned between Pre-Closing Periods and Post-Closing Periods in accordance with the principles of Treasury Regulation Section 1.1502-76(b) as reasonably interpreted and applied by OFC. No election shall be made under Treasury Regulation Section 1.1502-76(b)(2)(ii) (relating to ratable
        allocation of a year’s items). If the Closing Date is not an Accounting Cutoff Date, the provisions of Treasury Regulation Section 1.1502-76(b)(2)(iii) will be applied to allocate ratably the items (other than extraordinary items) for the month that includes the Closing Date.

                       (b)   Transactions Treated as Extraordinary Items. In determining the apportionment of Tax Items between Pre-Closing Periods and Post-Closing Periods, any Tax Items relating to the Transactions shall be treated as extraordinary items described in Treasury Regulation Section 1.1502-76(b)(2)(ii)(C) and shall (to the extent occurring on or prior to
        the Closing Date) be allocated to Pre-Closing Periods, and any Taxes related to such items shall be treated under Treasury Regulation Section 1.1502-76(b)(2)(iv) as relating to such extraordinary items and shall (to the extent occurring on or prior to the Closing Date) be allocated to Pre-Closing Periods.

        9

        

        

        

        ARTICLE IV

        Preparation and Filing of Tax Returns

                       SECTION 4.01 General. Except as otherwise provided in this Article IV, Tax Returns shall be prepared and filed when due (including extensions) by the person obligated to file such Tax Returns under the Code or applicable Tax Law. The Companies shall provide, and shall cause their Affiliates to provide, assistance and cooperation to one
        another in accordance with Article VIII with respect to the preparation and filing of Tax Returns, including providing information required to be provided in Article VIII.

                       SECTION 4.02 OFC’s Responsibility. OFC has the exclusive obligation and right to prepare and file, or to cause to be prepared and filed:

                       (a)     OFC Federal Consolidated Income Tax Returns for all Tax Periods;

                       (b)     OFC State Combined Income Tax Returns and any other Joint Returns that OFC reasonably determines are required to be filed (or that OFC chooses to be filed) by the Companies or any of their Affiliates for all Tax Periods; provided, however, that OFC shall provide written notice (no later than 60 days prior to the date such Returns
        are due, including extensions) of such determination to file such OFC State Combined Income Tax Returns or other Joint Returns to Altisource; and

                       (c)     OFC Separate Returns and Altisource Separate Returns that OFC reasonably determines are required to be filed by the Companies or any of their Affiliates for Tax Periods ending on, before or after the Closing Date (limited, in the case of Altisource Separate Returns, to such Returns as are filed on or prior to the Closing
        Date).

                       SECTION 4.03 Altisource’s Responsibility. Altisource shall prepare and file, or shall cause to be prepared and filed, all Altisource Separate Returns other than those Tax Returns filed on or prior to the Closing Date. The Tax Returns required to be prepared and filed by Altisource under this Section 4.03 shall include (a) any
        Altisource Federal Consolidated Income Tax Return and (b) Altisource Separate Returns required to be filed for Tax Periods ending after the Closing Date.

                       SECTION 4.04 Tax Accounting Practices. (a) General Rule. Except as provided in Section 4.04(b), with respect to any Tax Return that Altisource has the obligation and right to prepare and file, or cause to be prepared and filed, under Section 4.03, for any Pre-Closing Period (and the portion, ending on the Closing Date, of any Tax
        Period that includes but does not end on the Closing Date), such Tax Return shall be prepared in accordance with past practices, accounting methods, elections or conventions (“Past Practices”) used by OFC and its Subsidiaries with respect to the Tax Returns in question (unless there is no reasonable basis for the use of such Past Practices) solely to the extent a change in such Past Practice could reasonably be expected to cause OFC to incur a Tax Detriment, and to
        the extent any items are not covered by Past Practices (or in the event that there is no reasonable basis for the use of such Past Practices), in accordance with reasonable Tax accounting practices. Except as provided in Section 4.04(b), OFC shall prepare any Tax Return that it has the obligation and right to prepare and file, or cause to be prepared and filed, under Section 4.02, in accordance with reasonable Tax accounting practices selected by OFC.

        10

        

        

        

                       (b)   Reporting of Transaction Tax Items. Altisource and OFC shall file all Tax Returns consistent with the Tax treatment of the Transactions set forth in the Tax Opinions. To the extent there is a Tax treatment relating to the Transactions that is not covered by the Tax Opinions, the Tax treatment shall be determined by OFC with respect to such
        Tax Return, and Altisource shall agree to such treatment and shall file all Tax Returns for which it is responsible consistently with such treatment, unless either (i) there is no reasonable basis for such Tax treatment or (ii) such Tax treatment is inconsistent with the Tax treatment contemplated in the Tax Opinions.

                       (c)   Detrimental Tax Positions. Neither Altisource nor OFC shall take a position on any Tax Return that is reasonably expected to cause a Tax Detriment to the other party without agreeing first in writing to bear all Tax-Related Losses associated with such Tax Detriment.

                       SECTION 4.05 Consolidated or Combined Tax Returns. Altisource shall elect and join, and shall cause its respective Affiliates to elect and join, in filing any OFC State Combined Income Tax Returns and any Joint Returns that OFC files pursuant to Section 4.02(b).

                       SECTION 4.06 Right to Review Tax Returns. (a) General. The Responsible Company with respect to any material Tax Return shall make such Tax Return and related workpapers available for review by the other Company, if requested, to the extent (i) such Tax Return relates to Taxes for which the requesting party would reasonably be
        expected to be liable, (ii) the requesting party would reasonably be expected to be liable in whole or in part for any additional Taxes owing as a result of adjustments to the amount of such Taxes reported on such Tax Return, (iii) such Tax Return relates to Taxes for which the requesting party would reasonably be expected to have a claim for Tax Benefits under this Agreement or (iv) the requesting party reasonably determines that it must inspect such Tax Return to confirm compliance
        with the terms of this Agreement. The Responsible Company shall use reasonable best efforts to make such Tax Return available for review, including by delivering such materials to the requesting party at the requesting party’s expense, as required under this paragraph sufficiently in advance of the due date (including extensions) for filing of such Tax Return to provide the requesting party with a meaningful opportunity to analyze and comment on such Tax Return.

                       (b)   Execution of Returns Prepared by Other Party. In the case of any Tax Return that is required to be prepared and filed by the Responsible Company under this Agreement and that is required by law to be signed by the other Company (or by its authorized representative), the Company that is legally required to sign such Tax Return shall be
        required to sign such Tax Return unless there is no reasonable basis for the Tax treatment of an item reported on the Tax Return or the Tax treatment of an item reported on the Tax Return should, in the opinion (reasonably acceptable in form and substance to the Responsible Company) of a Tax Advisor, subject the other Company (or its authorized representatives) to material penalties.

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                       SECTION 4.07 Altisource Carrybacks and Claims for Refund. (a) Altisource hereby agrees that, unless OFC consents in writing, no Adjustment Request with respect to any Tax Return for the Pre-Closing Period shall be filed; provided, however, that upon the reasonable request of Altisource, OFC shall use reasonable best efforts
        to make, at Altisource’s expense, an Adjustment Request claiming a refund of Taxes for the Pre-Closing Period with respect to a Altisource Carryback arising in a Post-Closing Period related to U.S. Federal or State Taxes (any such Adjustment Request to be prepared and filed by OFC) where, in OFC’s reasonable discretion, such Adjustment Request will not materially impair the ability of OFC to use Tax Attributes. OFC shall not take any action that would impair the use of any
        Tax Attribute by a member of the Altisource Group without the prior written consent of Altisource.

                       (b)     Altisource, upon the request of OFC, agrees to repay the amount paid over to Altisource (plus any penalties, interest or other charges imposed by the relevant Tax Authority) in the event OFC is required to repay such refund to such Tax Authority.

                       SECTION 4.08 Apportionment of Earnings and Profits and Tax Attributes. OFC shall in good faith advise Altisource in writing of the portion, if any, of any earnings and profits, Tax Attribute or other consolidated, combined or unitary attribute that OFC determines shall be allocated or apportioned to the Altisource Group under applicable
        law. Altisource and all members of the Altisource Group shall prepare all Tax Returns in accordance with such written notice. As soon as practicable after receipt of a written request from Altisource, OFC shall provide copies of any studies, reports and workpapers supporting such allocations and apportionments. In the event of a subsequent adjustment by the applicable Tax Authority to such allocations and apportionments, OFC shall promptly notify Altisource in writing of such
        adjustment. For the avoidance of doubt, OFC shall not be liable to any member of the Altisource Group for any failure of any determination under this Section 4.08 to be accurate under applicable Tax Law.

        ARTICLE V

        Tax Payments

                       SECTION 5.01 Payment of Taxes With Respect to Tax Returns Reflecting Taxes of the Other Company. In the case of any Tax Return reflecting Taxes allocated hereunder to the Company that is not the Responsible Company:

                       (a)   Computation and Payment of Tax Due. At least 3 business days prior to any Payment Date for any Tax Return, the Responsible Company shall compute the amount of Tax required to be paid to the applicable Tax Authority (taking into account the requirements of Section 4.04 relating to consistent accounting practices) with respect to such Tax
        Return on such Payment Date. The Responsible Company shall pay such amount to such Tax Authority on or before such Payment Date (and provide notice and proof of payment to the other Company).

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                       (b)   Computation and Payment of Liability With Respect to Tax Due. Within 30 days following the earlier of (i) the due date (including extensions) for filing any such Tax Return (excluding any Tax Return with respect to payment of estimated Taxes or Taxes due with a request for extension of time to file) or (ii) the date on which such Tax Return
        is filed, if OFC is the Responsible Company, then Altisource shall pay to OFC the amount allocable to the Altisource Group under the provisions of Article II, and if Altisource is the Responsible Company, then OFC shall pay to Altisource the amount allocable to the OFC Group under the provisions of Article II, in each case, plus interest computed at the Base Rate on the amount of the payment based on the number of days from the earlier of (A) the due date of the Tax Return (including
        extensions) or (B) the date on which such Tax Return is filed to the date of payment.

                       (c)   Adjustments Resulting in Underpayments. In the case of any adjustment pursuant to a Final Determination with respect to any such Tax Return, the Responsible Company shall pay to the applicable Tax Authority when due any additional Tax due with respect to such Tax Return required to be paid as a result of such adjustment pursuant to a Final
        Determination. The Responsible Company shall compute the amount attributable to the Altisource Group in accordance with Article II and Altisource shall pay to OFC any amount due OFC (or OFC shall pay Altisource any amount due Altisource) under Article II within 30 days from the later of (i) the date the additional Tax was paid by the Responsible Company or (ii) the date of receipt of a written notice and demand from the Responsible Company for payment of the amount due, accompanied by
        evidence of payment and a statement detailing the Taxes paid and describing in reasonable detail the particulars relating thereto. Any payments required under this Section 5.01(c) shall include interest computed at the Base Rate based on the number of days from the date the additional Tax was paid by the Responsible Company to the date of the payment under this Section 5.01(c).

                       SECTION 5.02 Indemnification Payments. All indemnification payments under this Agreement shall be made by OFC directly to Altisource and by Altisource directly to OFC; provided, however, that if the Companies mutually agree with respect to any such indemnification payment, any member of the OFC Group, on the one hand, may make such
        indemnification payment to any member of the Altisource Group, on the other hand, and vice versa.

        ARTICLE VI

        Tax Benefits

                       SECTION 6.01 Tax Refunds in General. Except as set forth below, OFC shall be entitled to any refund (and any interest thereon received from the applicable Tax Authority) of Taxes for which OFC is liable hereunder, Altisource shall be entitled to any refund (and any interest thereon received from the applicable Tax Authority) of Taxes for
        which Altisource is liable hereunder and a Company receiving a refund to which another Company is entitled hereunder shall pay over such refund to such other Company within 30 days after such refund is received (together with interest computed at the Base Rate based on the number of days from the date the refund was received to the date the refund was paid over).

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                       SECTION 6.02 Timing Differences and Reverse Timing Differences. (a) If as a result of an adjustment pursuant to a Final Determination to any Taxes for which a member of the OFC Group is liable hereunder (or Tax Attribute of a member of the OFC Group) a member of the Altisource Group could realize a current or future Tax Benefit that it
        could not realize but for such adjustment (determined on a with and without basis), or if as a result of an adjustment pursuant to a Final Determination to any Taxes for which a member of the Altisource Group is liable hereunder (or Tax Attribute of a member of the Altisource Group) a member of the OFC Group could realize a current or future Tax Benefit that it could not realize but for such adjustment (determined on a with and without basis), Altisource or OFC, as the case may be,
        shall make a payment to either OFC or Altisource, as appropriate, within 30 days following the date of a written notice and demand from OFC or Altisource, as appropriate, for payment of the amount due, accompanied by evidence of such adjustment and describing in reasonable detail the particulars relating thereto. Any payment required under this Section 6.02(a) shall include interest on such payment computed at the Base Rate based on the number of days from the date of such written
        notice to the date of payment under this Section 6.02(a). In the event that OFC or Altisource disagrees with any such calculation described in this Section 6.02(a), OFC or Altisource shall so notify the other Company in writing within 30 days of receiving the written calculation set forth above in this Section 6.02(a). OFC and Altisource shall endeavor in good faith to resolve such disagreement.

                       (b)     If a member of the Altisource Group actually realizes in cash pursuant to a Final Determination any Tax Detriment as a result of an adjustment pursuant to a Final Determination to any Taxes for which a member of the OFC Group is liable hereunder (or Tax Attribute of a member of the OFC Group) (in such circumstance, OFC being the
        “Adjusted Party”) and such Tax Detriment would not have arisen but for such adjustment (determined on a with and without basis), or if a member of the OFC Group actually realizes in cash pursuant to a Final Determination any Tax Detriment as a result of an adjustment pursuant to a Final Determination to any Taxes for which a member of the Altisource Group is liable hereunder (or Tax Attribute of a member of the Altisource Group) (in such circumstance, Altisource being
        the “Adjusted Party”) and such Tax Detriment would not have arisen but for such adjustment (determined on a with and without basis), the Adjusted Party shall make a payment to the other party within 30 days following the later of such actual realization of the Tax Detriment and the Adjusted Party’s actual realization of the corresponding Tax Benefit, in an amount equal to the lesser of such Tax Detriment actually realized in cash and the Tax Benefit, if any,
        actually realized in cash by the Adjusted Party pursuant to such adjustment (which would not have arisen but for such adjustment), plus interest on such amount computed at the Base Rate based on the number of days from the later of the date of such actual realization of the Tax Detriment and the Adjusted Party’s actual realization of the corresponding Tax Benefit to the date of payment of such amount under this Section 6.02(b). No later than 30 days after a Tax Detriment described
        in this Section 6.02(b) is actually realized in cash by a member of the OFC Group or a member of the Altisource Group, OFC (if a member of the OFC Group actually realizes such Tax Detriment) or Altisource (if a member of the Altisource Group actually realizes such Tax Detriment) shall provide the other Company with a written calculation of the amount payable pursuant to this Section 6.02(b). In the event that OFC or Altisource disagrees with any such calculation described in this
        Section 6.02(b), OFC or Altisource shall so notify the other Company in writing within 30 days of receiving the written calculation set forth above in this Section 6.02(b). OFC and Altisource shall endeavor in good faith to resolve such disagreement.

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                       SECTION 6.03 Altisource Carrybacks. Altisource shall be entitled to any refund actually received in cash that is attributable to, and would not have arisen but for (determined on a with and without basis), an Altisource Carryback pursuant to the proviso set forth in Section 4.07, provided that the refund is a refund of Taxes for the Tax
        Period to which the Altisource Carryback is carried or the first or second immediately following Tax Periods. Any such payment of such refund made by OFC to Altisource pursuant to this Section 6.03 shall be recalculated in light of any Final Determination (or any other facts that may arise or come to light after such payment is made, such as a carryback or carryforward of a OFC Group Tax Attribute to a Tax Period in respect of which such refund is received) that would affect the amount
        to which Altisource is entitled, and an appropriate adjusting payment shall be made by Altisource to OFC such that the aggregate amounts paid pursuant to this Section 6.03 equals such recalculated amount (with interest computed at the Base Rate based on the number of days from the date of the actual receipt of such refund to the date of payment of such amount under this Section 6.03).

        ARTICLE VII

        Tax-Free Status

                       SECTION 7.01 Tax Opinions and Representation Letters. Each of Altisource and OFC hereby represents and agrees that (i) it has examined the Representation Letters prior to the date hereof and (ii) all information contained in such Representation Letters that concerns or relates to such Company or any member of its Group will be true,
        correct and complete.

                       SECTION 7.02 Restrictions on Altisource. (a) Altisource agrees that it will not take or fail to take, or permit any Altisource Affiliate to take or fail to take, any action where such action or failure to act would be inconsistent with or cause to be untrue any material, information, covenant or representation in any Representation
        Letters or Tax Opinions. Altisource agrees that it will not take or fail to take, or permit any Altisource Affiliate to take or fail to take, any action that prevents or could reasonably be expected to prevent (i) the Tax-Free Status or (ii) any transaction contemplated by the Separation Agreement that is intended by the parties to be tax-free from so qualifying, including issuing any Altisource Capital Stock that would prevent the Distribution from qualifying as a tax-free distribution
        within the meaning of Section 355 of the Code.

                       (b)     Altisource agrees that, from the date hereof until the first day after the two-year anniversary of the Closing Date, it will (i) maintain its status as a company whose separate affiliated group, within the meaning of Section 355(b)(3) of the Code, is engaged in the Active Trade or Business and (ii) not engage in any transaction that
        would result in it ceasing to be a company whose separate affiliated group is so engaged in the Active Trade or Business.

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                       (c)     Altisource agrees that, from the date hereof until the first day after the two-year anniversary of the Closing Date, it will not (i) enter into any Proposed Acquisition Transaction or, to the extent Altisource has the right to prohibit any Proposed Acquisition Transaction, permit any Proposed Acquisition Transaction to occur
        (whether by (A) redeeming rights under a shareholder rights plan, (B) finding a tender offer to be a “permitted offer” under any such plan or otherwise causing any such plan to be inapplicable or neutralized with respect to any Proposed Acquisition Transaction or (C) approving any Proposed Acquisition Transaction, whether for purposes of Section 203 of the DGCL or any similar corporate statute, any “fair price” or other provision of Altisource’s charter or
        bylaws or otherwise), (ii) merge or consolidate with any other Person or liquidate or partially liquidate, (iii) in a single transaction or series of transactions sell or transfer (other than sales or transfers of inventory in the ordinary course of business) 60% or more of the gross assets of the Active Trade or Business or 60% or more of the consolidated gross assets of Altisource and its Affiliates (such percentages to be measured based on fair market value as of the Closing Date),
        (iv) redeem or otherwise repurchase (directly or through a Altisource Affiliate) any Altisource Capital Stock, except to the extent such repurchases satisfy Section 4.05(1)(b) of Revenue Procedure 96-30 (as in effect prior to the amendment of such Revenue Procedure by Revenue Procedure 2003-48), (v) amend its certificate of incorporation (or other organizational documents), or take any other action, whether through a shareholder vote or otherwise, affecting the relative voting rights of
        Altisource Capital Stock (including, without limitation, through the conversion of any Altisource Capital Stock into another class of Altisource Capital Stock) or (vi) take any other action or actions (including any action or transaction that would be reasonably likely to be inconsistent with any representation made in the Representation Letters or the Tax Opinions) that in the aggregate (and taking into account any other transactions described in this subparagraph (c)) would be
        reasonably likely to have the effect of causing or permitting one or more persons (whether or not acting in concert) to acquire directly or indirectly stock representing a Fifty-Percent or Greater Interest in Altisource or otherwise jeopardize the Tax-Free Status, unless prior to taking any such action set forth in the foregoing clauses (i) through (vi), (A) Altisource shall have requested that OFC obtain a Ruling in accordance with Sections 7.02(e) and (f) to the effect that such
        transaction will not affect the Tax-Free Status and OFC shall have received such a supplemental Ruling in form and substance satisfactory to OFC in its sole and absolute discretion, which discretion shall be exercised in good faith solely to preserve the Tax-Free Status (and in determining whether such a Ruling is satisfactory, OFC may consider, among other factors, the appropriateness of any underlying assumptions and management’s representations made in connection with such
        Ruling), or (B) Altisource shall provide OFC with an Unqualified Tax Opinion in form and substance satisfactory to OFC in its sole and absolute discretion, which discretion shall be exercised in good faith solely to preserve the Tax-Free Status (and in determining whether an opinion is satisfactory, OFC may consider, among other factors, the appropriateness of any underlying assumptions and management’s representations if used as a basis for the opinion and OFC may determine that
        no opinion would be acceptable to OFC) or (C) OFC shall have waived the requirement to obtain such ruling or opinion.

                       (d)   Certain Issuances of Altisource Capital Stock. If Altisource proposes to enter into any Section 7.02(d) Acquisition Transaction or, to the extent Altisource has the right to prohibit any Section 7.02(d) Acquisition Transaction, proposes to permit any Section 7.02(d) Acquisition Transaction to occur, in each case, during the period from the
        date hereof until the first day after the two-year anniversary of the Closing Date, Altisource shall provide OFC, no later than ten days following the signing of any written agreement with respect to the Section 7.02(d) Acquisition Transaction, with a written description of such transaction (including the type and amount of Altisource Capital Stock to be issued in such transaction) and a certificate of the Board of Directors of Altisource to the effect that the Section 7.02(d)
        Acquisition Transaction is not a Proposed Acquisition Transaction or any other transaction to which the requirements of Section 7.02(c) apply (a “Board Certificate”).

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                       (e)   Procedures Regarding Opinions and Rulings. If Altisource notifies OFC that it desires to take one of the actions described in clauses (i) through (vi) of Section 7.02(c) (a “Notified Action”), OFC and Altisource shall reasonably cooperate to attempt to obtain the ruling or opinion referred to in Section 7.02(c), unless OFC shall
        have waived the requirement to obtain such ruling or opinion.

                       (f)   Rulings or Unqualified Tax Opinions at Altisource’s Request. OFC agrees that at the reasonable request of Altisource pursuant to Section 7.02(c) OFC shall cooperate with Altisource and use reasonable best efforts to seek to obtain, as expeditiously as possible, a Ruling or an Unqualified Tax Opinion for the purpose of permitting
        Altisource to take the Notified Action. In no event shall OFC be required to file any request for a Ruling under this Section 7.03(f) unless Altisource represents that (A) it has read the request for the Ruling and (B) all information and representations, if any, relating to any member of the Altisource Group contained in the request for the Ruling are (subject to any qualifications therein) true, correct and complete. Altisource shall reimburse OFC for all reasonable costs and expenses
        incurred by the OFC Group in obtaining a Ruling or Unqualified Tax Opinion requested by Altisource within 10 business days after receiving an invoice from OFC therefor.

                       (g)   Rulings or Unqualified Tax Opinions at OFC’s Request. OFC shall have the right to obtain a supplemental Ruling or an Unqualified Tax Opinion at any time in its sole and absolute discretion. If OFC determines to obtain a supplemental Ruling or an Unqualified Tax Opinion, Altisource shall (and shall cause each Affiliate of Altisource to)
        cooperate with OFC and take any and all actions reasonably requested by OFC in connection with obtaining the Ruling or Unqualified Tax Opinion (including, without limitation, by making any representation or reasonable covenant or providing any materials or information requested by the IRS or Tax Advisor; provided that Altisource shall not be required to make (or cause any Affiliate of Altisource to make) any representation or covenant that is inconsistent with historical facts or as to
        future matters or events over which it has no control). OFC and Altisource shall each bear its own costs and expenses in obtaining a Ruling or an Unqualified Tax Opinion requested by OFC.

                       (h)     Altisource hereby agrees that OFC shall have sole and exclusive control over the process of obtaining any Ruling, and that only OFC shall apply for a Ruling. In connection with obtaining a Ruling pursuant to Section 7.02(c), (A) OFC shall keep Altisource informed in a timely manner of all material actions taken or proposed to be
        taken by OFC in connection therewith; (B) OFC shall (1) reasonably in advance of the submission of a request for a Ruling provide Altisource with a draft copy thereof, (2) reasonably consider Altisource’s comments on such draft copy and (3) provide Altisource with a final copy; and (C) OFC shall provide Altisource with notice reasonably in advance of, and Altisource shall have the right to attend, any formally scheduled meetings with the IRS (subject to the approval of the IRS)
        that relate to such Ruling. Neither Altisource nor any Altisource Affiliate shall seek any guidance from the IRS or any other Tax Authority (whether written, verbal or otherwise) at any time concerning the Transactions (including the impact of any transaction on the Transactions).

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                       SECTION 7.03 Liability for Tax-Related Losses. (a) Notwithstanding anything in this Agreement or the Separation Agreement to the contrary, Altisource shall be responsible for, and shall indemnify and hold harmless OFC and its Affiliates and each of their respective officers, directors and employees from and against, one hundred percent
        (100%) of any Tax-Related Losses that are attributable to or result from any one or more of the following: (A) the acquisition of all or a portion of the stock or assets of any member of the Altisource Group by any means whatsoever by any Person, (B) any negotiations, understandings, agreements or arrangements by Altisource with respect to transactions or events (including, without limitation, stock issuances, pursuant to the exercise of stock options or otherwise, option grants,
        capital contributions or acquisitions, or a series of such transactions or events) that cause the Distribution to be treated as part of a plan pursuant to which one or more Persons acquire directly or indirectly stock of Altisource representing a Fifty-Percent or Greater Interest therein, (C) any action or failure to act by Altisource after the Distribution (including, without limitation, any amendment to Altisource’s certificate of incorporation (or other organizational
        documents), whether through a shareholder vote or otherwise) affecting the relative voting rights of any class of Altisource Capital Stock (including, without limitation, through the conversion of any class of Altisource Capital Stock into another class of Altisource Capital Stock), (D) any act or failure to act by Altisource or any Altisource Affiliate described in Section 7.02 (regardless whether such act or failure to act is covered by a Ruling, Unqualified Tax Opinion or waiver
        described in clause (A), (B) or (C) of Section 7.02(c) or a Board Certificate described in Section 7.02(d)) or (E) any breach by Altisource of its agreement and representation set forth in Section 7.01.

                       (b)     For purposes of calculating the amount and timing of any Tax-Related Loss for which Altisource is responsible under this Section 7.03, Tax-Related Losses shall be calculated by assuming that OFC, the OFC Affiliated Group and each member of the OFC Group (i) pay Tax at the highest marginal corporate Tax rates in effect in each
        relevant taxable year and (ii) have no Tax Attributes in any relevant taxable year.

                       (c)     Altisource shall pay OFC the amount of any Tax-Related Losses for which Altisource is responsible under this Section 7.03: (A) in the case of Tax-Related Losses described in clause (i) of the definition of Tax-Related Losses no later than 2 business days prior to the date OFC files, or causes to be filed, the applicable Tax Return
        for the year of the Distribution (the “Filing Date”) (provided that if such Tax-Related Losses arise pursuant to a Final Determination described in clause (a), (b) or (c) of the definition of “Final Determination”, then Altisource shall pay OFC no later than 2 business days after the date of such Final Determination with interest calculated at the Base Rate, from the date that is 2 business days prior to the Filing Date through the date of such
        Final Determination) and (B) in the case of Tax-Related Losses described in clause (ii) or (iii) of the definition of Tax-Related Losses, no later than 2 business days after the date OFC pays such Tax-Related Losses.

        ARTICLE VIII

        Assistance and Cooperation

                       SECTION 8.01 Assistance and Cooperation. (a) After the Distribution, the Companies shall cooperate (and cause their respective Affiliates to cooperate) with each other and with each other’s agents, including accounting firms and legal counsel, in connection with Tax matters relating to the Companies and their Affiliates including
        (i) preparation and filing of Tax Returns, (ii) determining the liability for and amount of any Taxes due (including estimated Taxes) or the right to and amount of any refund of Taxes, (iii) examinations of Tax Returns and (iv) any administrative or judicial proceeding in respect of Taxes assessed or proposed to be assessed. Such cooperation shall include making all information and documents in their possession relating to the other Company and its Affiliates available to such other
        Company as provided in Article IX. Each of the Companies shall also make available to the other, as reasonably requested and available, personnel (including officers, directors, employees and agents of the Companies or their respective Affiliates) responsible for preparing, maintaining and interpreting information and documents relevant to Taxes, and personnel reasonably required as witnesses or for purposes of providing information or documents in connection with any administrative or
        judicial proceedings relating to Taxes.

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                       (b)     Any information or documents provided under this Article VIII shall be kept confidential by the Company receiving the information or documents, except as may otherwise be necessary in connection with the filing of Tax Returns or in connection with any administrative or judicial proceedings relating to Taxes.

                       SECTION 8.02 Income Tax Return Information. Altisource and OFC acknowledge that time is of the essence in relation to any request for information, assistance or cooperation made by OFC or Altisource pursuant to Section 8.01 or this Section 8.02. Altisource and OFC acknowledge that failure to conform to the deadlines set forth herein or
        reasonable deadlines otherwise set by OFC or Altisource could cause irreparable harm.

                       (a)     Each Company shall provide to the other Company information and documents relating to its Group required by the other Company to prepare Tax Returns. Any information or documents the Responsible Company requires to prepare such Tax Returns shall be provided in such form as the Responsible Company reasonably requests and in
        sufficient time for the Responsible Company to file such Tax Returns on a timely basis.

                       (b)     In the event that a party fails to provide any information requested by the other party pursuant to Section 8.01 or this Section 8.02, within the deadlines as set forth herein, a party shall have the right to engage a nationally recognized public accounting firm of its choice (the “Accountant”), in its sole and
        absolute discretion, to gather such information directly from the other party. The parties agree, and will cause all other members of their Group to agree, upon 10 business days’ notice, in the case of a failure to provide information pursuant to Section 8.01 or this Section 8.02, to permit any such Accountant full access to all records or other information requested by such Accountant during reasonable business hours. Such other party agrees promptly pay all reasonable costs and
        expenses incurred by the requesting party in connection with the engagement of such Accountant.

                       SECTION 8.03 Reliance. If any member of one Group (the “Supplier Group”) supplies information to a member of the other Group (the “Signing Group”) in connection with a Tax liability and an officer of a member of the Signing Group signs a statement or other document under penalties of perjury in
        reliance upon the accuracy of such information, then upon the written request of such member of the Signing Group identifying the information being so relied upon, the chief financial officer of the Supplier Group (or any officer of the Supplier Group as designated by the chief financial officer of the Supplier Group) shall certify in writing that to his or her knowledge (based upon consultation with appropriate employees) the information so supplied is accurate and complete. The
        Company that is a member of the Supplier Group agrees to indemnify and hold harmless each member of the Signing Group and its directors, officers and employees from and against any fine, penalty or other cost or expense of any kind attributable to a member of the Supplier Group having supplied, pursuant to this Article VIII, a member of the Signing Group with inaccurate or incomplete information in connection with a Tax liability.

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        ARTICLE IX

        Tax Records

                       SECTION 9.01 Retention of Tax Records. Each Company shall preserve and keep all Tax Records exclusively relating to the assets and activities of its Group for Pre-Closing Periods (and the portion, ending on the Closing Date, of any Tax Period that includes but does not end on the Closing Date), and OFC shall preserve and keep all other
        Tax Records relating to Taxes of the Groups for Pre-Closing Periods until the later of (i) the expiration of any applicable statutes of limitation, and (ii) 7 years after the Closing Date. After such earlier date, each Company may dispose of such records upon 90 days’ prior written notice to the other Company. If, prior to the expiration of the applicable statute of limitation or such seven-year period, a Company reasonably determines that any Tax Records that it would otherwise
        be required to preserve and keep under this Article IX are no longer material in the administration of any matter under the Code or other applicable Tax Law and the other Company agrees, then such first Company may dispose of such records upon 90 days’ prior notice to the other Company. Any notice of an intent to dispose given pursuant to this Section 9.01 shall include a list of the records to be disposed of describing in reasonable detail each file, book or other record
        accumulation being disposed. The notified Company shall have the opportunity, at its cost and expense, to copy or remove, within such 90-day period, all or any part of such Tax Records.

                       SECTION 9.02 Access to Tax Records. The Companies and their respective Affiliates shall make available to each other for inspection and copying (or delivery, at the requesting party’s expense) during normal business hours upon reasonable notice all Tax Records in their possession to the extent reasonably required by the other
        Company in connection with the preparation of Tax Returns, audits, litigation or the resolution of items under this Agreement.

        ARTICLE X

        Tax Contests

                       SECTION 10.01 Notice. Each of the parties shall provide prompt notice to the other party of any written communication from a Tax Authority regarding any pending or threatened Tax audit, assessment or proceeding or other Tax Contest of which it becomes aware related to Taxes for Tax Periods for which it is indemnified by the other party
        hereunder. Such notice shall attach copies of the pertinent portion of any written communication from a Tax Authority and contain factual information (to the extent known) describing any asserted Tax liability in reasonable detail and shall be accompanied by copies of any notice and other documents received from any Tax Authority in respect of any such matters.

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                       SECTION 10.02 Control of Tax Contests. (a) OFC Returns. In the case of any Tax Contest with respect to any (i) OFC Federal Consolidated Income Tax Return, (ii) OFC State Combined Income Tax Return, (iii) any other Joint Return or (iv) any OFC Separate Return, OFC shall have exclusive control over the Tax Contest, including
        exclusive authority with respect to any settlement of Tax liability arising from such Tax Contest. OFC shall keep Altisource informed in a timely manner regarding such Tax Contests to the extent relating to the Altisource Business, the Altisource Group or the assets transferred to Altisource pursuant to the Transactions insofar as such Tax Contests would reasonably be expected to affect the Altisource Group.

                       (b)   Altisource Separate Returns. In the case of any Tax Contest with respect to an Altisource Separate Return, Altisource shall have exclusive control over the Tax Contest, including exclusive authority with respect to any settlement of Tax liability arising from such Tax Contest.

                       (c)   Distribution-Related Proceedings. In the event of any Distribution-Related Proceeding as a result of which Altisource could reasonably be expected to become liable for any Tax-Related Losses that OFC is entitled to control under this Article 10, (A) OFC shall consult with Altisource reasonably in advance of taking any significant action in
        connection with such Distribution-Related Proceeding, (B) OFC shall consult with Altisource and offer Altisource a reasonable opportunity to comment before submitting any written materials prepared or furnished in connection with such Distribution-Related Proceeding, (C) OFC shall defend such Distribution-Related Proceeding diligently and in good faith and (D) OFC shall provide Altisource copies of any written materials relating to such Distribution-Related Proceeding received from the
        relevant Tax Authority.

        ARTICLE XI

        Effective Date; Termination of Prior Intercompany Tax Allocation Agreements

                       This Agreement shall be effective as of the date hereof. As of the date hereof, all prior intercompany Tax allocation agreements or arrangements relating to one or more members of the OFC Group, on the one hand, and one or more members of the Altisource Group, on the other hand, shall be terminated, and no member of any Group shall have any right or obligation in
        respect of any member of the other Group thereunder.

        ARTICLE XII

        Survival of Obligations

                       The representations, warranties, covenants and agreements set forth in this Agreement shall be unconditional and absolute and shall remain in effect without limitation as to time.

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        ARTICLE XIII

        Treatment of Payments; Tax Gross Up

                       SECTION 13.01 Treatment of Tax Indemnity and Tax Benefit Payments. In the absence of any change in Tax treatment under the Code or other applicable Tax Law:

                       (a)     any Tax indemnity payments made by a Company under Article V shall be reported for Tax purposes by the payor and the recipient as distributions or capital contributions, as appropriate, occurring immediately before the Distribution (but only to the extent the payment does not relate to a Tax allocated to the payor in accordance with
        Section 1552 of the Code or the regulations thereunder or Treasury Regulation Section 1.1502-33(d) (or under corresponding principles of other applicable Tax Laws)) or as payments of an assumed or retained liability, and

                       (b)     any Tax Benefit payments made by a Company under Article VI, shall be reported for Tax purposes by the payor and the recipient as distributions or capital contributions, as appropriate, occurring immediately before the Distribution (but only to the extent the payment does not relate to a Tax allocated to the payor in accordance with
        Section 1552 of the Code or the regulations thereunder or Treasury Regulation Section 1.1502-33(d) (or under corresponding principles of other applicable Tax Laws)) or as payments of an assumed or retained liability.

                       SECTION 13.02 Tax Gross Up. If, notwithstanding the manner in which Tax indemnity payments and Tax Benefit payments were reported, there is an adjustment to the Tax liability of a Company as a result of its receipt of a payment pursuant to this Agreement, such payment shall be appropriately adjusted so that the amount of such payment,
        reduced by the amount of all income Taxes payable with respect to the receipt thereof (but taking into account all correlative Tax Benefits resulting from the payment of such income Taxes), shall equal the amount of the payment that the Company receiving such payment would otherwise be entitled to receive pursuant to this Agreement.

                       SECTION 13.03 Interest under This Agreement. Anything herein to the contrary notwithstanding, to the extent one Company (“Indemnitor”) makes a payment of interest to another Company (“Indemnitee”) under this Agreement with respect to the period from the date that the Indemnitee made a payment of Tax
        to a Tax Authority to the date that the Indemnitor reimbursed the Indemnitee for such Tax payment, the interest payment shall be treated as interest expense to the Indemnitor (deductible to the extent provided by law) and as interest income by the Indemnitee (includible in income to the extent provided by law). The amount of the payment shall not be adjusted under Section 13.02 to take into account any associated Tax Benefit to the Indemnitor or Tax Detriment to the
        Indemnitee.

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        ARTICLE XIV

        Disagreements

                       The Companies mutually desire that collaboration will continue between them. Accordingly, they will try, and they will cause their respective Group members to try, to resolve in an amicable manner all disagreements and misunderstandings connected with their respective rights and obligations under this Agreement, including any amendments hereto. In furtherance
        thereof, in the event of any dispute or disagreement (other than a High-Level Dispute) (a “Tax Arbitrator Dispute”) between the Companies as to the interpretation of any provision of this Agreement or the performance of obligations hereunder, the Tax departments of the Companies shall negotiate in good faith to resolve the Tax Arbitrator Dispute. If such good faith negotiations do not resolve the Tax Arbitrator Dispute, then the matter, upon written request of either
        Company, will be referred to a tax lawyer or accountant acceptable to each of the Companies (the “Tax Arbitrator”). The Tax Arbitrator may, in its discretion, obtain the services of any third-party appraiser, accounting firm or consultant that the Tax Arbitrator deems necessary to assist it in resolving such disagreement. The Tax Arbitrator shall furnish written notice to the Companies of its resolution of any such Tax Arbitrator Dispute as soon as practical, but in
        any event no later than 45 days after its acceptance of the matter for resolution. Any such resolution by the Tax Arbitrator will be conclusive and binding on the Companies. Following receipt of the Tax Arbitrator’s written notice to the Companies of its resolution of the Tax Arbitrator Dispute, the Companies shall each take or cause to be taken any action necessary to implement such resolution of the Tax Arbitrator. In accordance with Article XVI, each Company shall pay its own
        fees and expenses (including the fees and expenses of its representatives) incurred in connection with the referral of the matter to the Tax Arbitrator. All fees and expenses of the Tax Arbitrator in connection with such referral shall be shared equally by the Companies. Any High-Level Dispute shall be resolved pursuant to the procedures set forth in Article VII of the Separation Agreement. Nothing in this Article XIV will prevent either Company from seeking injunctive relief if any
        delay resulting from the efforts to resolve the Tax Arbitrator Dispute through the Tax Arbitrator (or any delay resulting from the efforts to resolve any High-Level Dispute through the procedures set forth in Article VII of the Separation Agreement) could result in serious and irreparable injury to either Company.

        ARTICLE XV

        Late Payments

                       Any amount owed by one party to another party under this Agreement that is not paid when due shall bear interest at three (3) month London Interbank Offer Rate (LIBOR), compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Article XV duplicates interest required to be paid under any other
        provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Article XV or the interest rate provided under such other provision.

        ARTICLE XVI

        Expenses

                       Except as otherwise provided in this Agreement, each party and its Affiliates shall bear their own expenses incurred in connection with preparation of Tax Returns, Tax Contests, and other matters related to Taxes under the provisions of this Agreement.

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        ARTICLE XVII

        General Provisions

                       SECTION 17.01 Addresses and Notices. All notices or other communications under this Agreement shall be in writing and shall be deemed to be duly given when (a) delivered in person or (b) deposited in the United States mail or private express mail, postage prepaid, addressed as follows:

        If to OFC, to:

        

        Ocwen Financial Corporation

        1661 Worthington Road

        West Palm Beach, Florida 33409

        Attn: Corporate Secretary

        Fax No.: (561) 471-4264

        

        

        If to Altisource to:

        

        Altisource Solutions S.à r.l.

        2-8 Avenue Charles de Gaulle

        L-1653 Luxembourg

        Attn: Corporate Secretary

        Fax No.: 352-2744-9499 

                       Either party may, by notice to the other party, change the address to which such notices are to be given.

                       SECTION 17.02 Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their successors and assigns.

                       SECTION 17.03 Waiver. Waiver by any party hereto of any default by any other party hereto of any provision of this Agreement shall not be deemed a waiver by the waiving party of any subsequent or other default.

                       SECTION 17.04 Severability. If any provision of this Agreement or the application thereof to any Person or circumstance is determined by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions hereof, or the application of such provision to Persons or circumstances or in jurisdictions other than
        those as to which it has been held invalid or unenforceable, shall remain in full force and effect and shall in no way be affected, impaired or invalidated thereby, so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to either party. Upon any such determination, the parties shall negotiate in good faith in an effort to agree upon a suitable and equitable provision to effect the original intent of the
        parties.

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                       SECTION 17.05 Authority. Each of the parties represents to the other that (a) it has the corporate or other requisite power and authority to execute, deliver and perform this Agreement, (b) the execution, delivery and performance of this Agreement have been duly authorized by all necessary corporate or other action, (c) it has duly and
        validly executed and delivered this Agreement, and (d) this Agreement is a legal, valid and binding obligation, enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally and general equity principles.

                       SECTION 17.06 Further Action. The parties shall execute and deliver all documents, provide all information, and take or refrain from taking action as may be necessary or appropriate to achieve the purposes of this Agreement, including the execution and delivery to the other parties and their Affiliates and representatives of such powers
        of attorney or other authorizing documentation as is reasonably necessary or appropriate in connection with Tax Contests (or portions thereof) under the control of such other parties in accordance with Article X.

                       SECTION 17.07 Integration. This Agreement, together with each of the exhibits and schedules appended hereto, constitutes the final agreement between the parties, and is the complete and exclusive statement of the parties’ agreement on the matters contained herein. All prior and contemporaneous negotiations and agreements between the
        parties with respect to the matters contained herein are superseded by this Agreement, as applicable. In the event of any inconsistency between this Agreement and the Separation Agreement, or any other agreements relating to the transactions contemplated by the Separation Agreement, with respect to matters addressed herein, the provisions of this Agreement shall control.

                       SECTION 17.08 Construction. The language in all parts of this Agreement shall in all cases be construed according to its fair meaning and shall not be strictly construed for or against any party. The captions, titles and headings included in this Agreement are for convenience only, and do not affect this Agreement’s construction or
        interpretation. Unless otherwise indicated, all “Section” and “Article” references in this Agreement are to sections and articles of this Agreement.

                       SECTION 17.09 No Double Recovery. No provision of this Agreement shall be construed to provide an indemnity or other recovery for any costs, damages, or other amounts for which the damaged party has been fully compensated under any other provision of this Agreement or under any other agreement or action at law or equity. Unless expressly
        required in this Agreement, a party shall not be required to exhaust all remedies available under other agreements or at law or equity before recovering under the remedies provided in this Agreement.

                       SECTION 17.10 Counterparts. The parties may execute this Agreement in multiple counterparts, each of which constitutes an original as against the party that signed it, and all of which together constitute one agreement. This Agreement is effective upon delivery of one executed counterpart from each party to the other party. The signatures
        of both parties need not appear on the same counterpart. The delivery of signed counterparts by facsimile or email transmission that includes a copy of the sending party’s signature is as effective as signing and delivering the counterpart in person.

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                       SECTION 17.11 Governing Law. This Agreement and, unless expressly provided therein, each Ancillary Agreement, shall be governed by and construed and interpreted in accordance with the internal laws of the State of New York applicable to contracts made and to be performed wholly in such State and irrespective of the choice of law
        principles of the State of New York, as to all matters (other than with respect to the corporate action of the OFC board of directors attendant to the declaration and payment of the dividend of the Altisource Common Shares, which shall be governed by the law of the State of Florida.)

                       SECTION 17.12 Jurisdiction. Any action or proceeding arising out of or relating to this Agreement or any Ancillary Agreement shall be brought in the courts of the State of New York located in the County of New York or in the United States District Court for the Southern District of New York (if any party to such action or proceeding has
        or can acquire jurisdiction), and each of the parties hereto or thereto irrevocably submits to the exclusive jurisdiction of each such court in any such action or proceeding, waives any objection it may now or hereafter have to venue or to convenience of forum, agrees that all claims in respect of the action or proceeding shall be heard and determined only in any such court and agrees not to bring any action or proceeding arising out of or relating to this Agreement or any Ancillary
        Agreement in any other court. The parties to this Agreement or any Ancillary Agreement agree that any of them may file a copy of this paragraph with any court as written evidence of the knowing, voluntary and bargained agreement between the parties hereto and thereto irrevocably to waive any objections to venue or to convenience of forum. Process in any action or proceeding referred to in the first sentence of this Section may be served on any party to this Agreement or any Ancillary
        Agreement anywhere in the world.

                       SECTION 17.13 Amendment. No provisions of this Agreement shall be deemed waived, amended, supplemented or modified by any party hereto, unless such waiver, amendment, supplement or modification is in writing and signed by the authorized representative of the party against whom it is sought to enforce such waiver, amendment, supplement or
        modification.

                       SECTION 17.14 Altisource Subsidiaries. If, at any time, Altisource or OFC, respectively, acquires or creates one or more subsidiaries that are includable in the Altisource Group or the OFC Group, respectively, they shall be subject to this Agreement and all references to the Altisource Group or OFC Group, respectively, herein shall
        thereafter include a reference to such subsidiaries.

                       SECTION 17.15 Successors. This Agreement shall be binding on and inure to the benefit of any successor by merger, acquisition of assets, or otherwise, to any of the parties hereto (including but not limited to any successor of OFC or Altisource succeeding to the Tax Attributes of either under Section 381 of the Code), to the same extent
        as if such successor had been an original party to this Agreement.

                       SECTION 17.16 Injunctions. The parties acknowledge that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in accordance with its specific terms or were otherwise breached. The parties hereto shall be entitled to an injunction or injunctions to prevent breaches of the provisions of
        this Agreement and to enforce specifically the terms and provisions hereof in any court having jurisdiction, such remedy being in addition to any other remedy to which they may be entitled at law or in equity.

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                       IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their duly authorized representatives as of the date set forth above.

        	
                     

                	
                     

                	
                     

                
	
                     

                	
                    OCWEN FINANCIAL CORPORATION

                
	
                     

                	
                     

                	
                     

                
	
                     

                	
                    By 

                	
                    /s/ Ronald M. Faris 

                
	
                     

                	
                     

                	 
	
                     

                	
                     

                	
                    Name: Ronald M. Faris

                
	
                     

                	
                     

                	
                    Title:   President

                
	
                     

                	
                     

                
	
                     

                	
                    ALTISOURCE SOLUTIONS S.À R.L.

                
	
                     

                	
                     

                	
                     

                
	
                     

                	
                    By 

                	
                    

                    /s/ William B. Shepro  

                
	
                     

                	
                     

                	 
	
                     

                	
                     

                	
                    Name: William B. Shepro

                
	
                     

                	
                     

                	
                    Title:   Manager

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