Document:

Subservicing Supplement

 Exhibit 10.2 

 
  

 
 SUBSERVICING SUPPLEMENT

 dated as of December 26, 2012 
 between 
 OCWEN LOAN SERVICING, LLC 

and 

HLSS HOLDINGS, LLC 
  

 
  

 CONTENTS 

 

							
	Clause	 	 	  	Page	 
		
	 ARTICLE I.         DEFINITIONS
	  	 	1	  
	 1.1
	 	 Definitions
	  	 	1	  
	 ARTICLE II.        SUBSERVICING
	  	 	3	  
	 2.1
	 	 Engagement as Subservicer
	  	 	3	  
	 2.2
	 	 Servicing Transfer Procedures
	  	 	3	  
	 2.3
	 	 Reference to Master Subservicing Agreement
	  	 	3	  
	 ARTICLE III.       SERVICING FEES
	  	 	3	  
	 3.1
	 	 Base Subservicing Fee
	  	 	3	  
	 3.2
	 	 Performance Fee
	  	 	4	  
	 ARTICLE IV.        MISCELLANEOUS
	  	 	4	  
	 4.1
	 	 Incorporation
	  	 	4	  
	 4.2
	 	 Third Party Beneficiaries
	  	 	4	  

  

			
	SCHEDULE I	    	Servicing Agreements
	SCHEDULE II	    	Retained Servicing Fee Percentage
	SCHEDULE III	    	Target Ratio Schedule

 SUBSERVICING SUPPLEMENT 

This SUBSERVICING SUPPLEMENT, dated as of December 26, 2012 (this “Subservicing Supplement”), is by and between
HLSS HOLDINGS, LLC, a Delaware limited liability company (“Servicer”), and OCWEN LOAN SERVICING, LLC, a Delaware limited liability company (“Ocwen”). 

RECITALS: 

WHEREAS, as of the applicable Servicing Transfer Date (as defined herein), Servicer will become the servicer of certain Mortgage Loans
(as defined in the Master Subservicing Agreement) pursuant to the terms of those certain pooling and servicing agreements or other servicing agreements listed in Schedule I hereto; and 

WHEREAS, Servicer and Ocwen are parties to that certain Master Subservicing Agreement dated as of October 1, 2012 (the
“Master Subservicing Agreement”); and 
 WHEREAS, Servicer desires to engage Ocwen to act as subservicer with
respect to the Mortgage Loans relating to those pooling and servicing agreements or other servicing agreements listed in Schedule I hereto, as of the applicable Servicing Transfer Date (as defined herein), and Ocwen desires to act as
subservicer with respect to the Mortgage Loans relating to those pooling and servicing agreements or other servicing agreements, on the terms set forth in the Master Subservicing Agreement, as supplemented by this Subservicing Supplement.

 NOW, THEREFORE, in consideration of the premises and mutual agreements hereinafter set forth and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, Servicer and Ocwen agree as follows: 
 ARTICLE I. 
 DEFINITIONS. 

1.1 Definitions. (a) For purposes of this Subservicing Supplement, the following capitalized terms shall have the respective
meanings set forth or referenced below. 
 “Base Subservicing Fee” has the meaning set forth in
Section 3.1. 
 “Deferred Servicing Agreement” has the meaning set forth in the Sale Supplement.

 “Excess Servicing Advances” shall mean, for any calendar month, the amount, if any, by which the outstanding
Servicing Advances with respect to the Servicing Agreements as of the last day of such calendar month exceeds an amount equal to (a) the Target Ratio for such calendar month multiplied by (b) the unpaid principal balance of the Mortgage
Loans subject to the Servicing Agreements as of the last day of such calendar month. 

  
 Subservicing
Supplement 

 “Monthly Servicing Fee” shall mean, for each calendar month, the sum of the
Base Subservicing Fee for such calendar month and the Seller Monthly Servicing Fee (as defined in the Sale Supplement) for such calendar month. 
 “Performance Fee” has the meaning set forth in Section 3.2. 
 “Retained Servicing Fee” shall mean, for any calendar month, an amount equal to the sum of (a) the product of the Retained Servicing Fee Percentage for such calendar month and the
average unpaid principal balance of all Mortgage Loans subject to the Subject Servicing Agreements and the Deferred Servicing Agreements during such calendar month, and (b) the Retained Servicing Fee Shortfall, if any, for the immediately prior
calendar month. 
 “Retained Servicing Fee Percentage” shall mean, for any calendar month, the percentage set
forth on Schedule II to this Subservicing Supplement. 
 “Retained Servicing Fee Shortfall” shall mean,
for any calendar month, beginning in January, 2013, an amount equal to the excess, if any, of (a) the Retained Servicing Fee for such calendar month over (b) the excess, if any, of (x) the aggregate Servicing Fees actually received by
Servicer pursuant to the Subject Servicing Agreements and with respect to the Deferred Servicing Agreements during such calendar month (whether directly pursuant to such Subject Servicing Agreement or pursuant to Sale Supplement, as applicable) over
(y) the Monthly Servicing Fee for such calendar month. 
 “Sale Supplement” shall mean that certain Sale
Supplement, dated as of the date hereof, between Servicer and Home Loan Servicing Solutions, Ltd., as Purchasers, and Ocwen, as Seller, as the same may be amended, supplemented or otherwise modified from time to time. 

“Scheduled Termination Date” means, with respect to each Subject Servicing Agreement serviced pursuant to this
Subservicing Supplement, the date which is six (6) years after the closing date of the initial acquisition of assets pursuant to the Sale Supplement. 
 “Servicing Agreement” shall mean each of the pooling and servicing agreements or other servicing agreements listed in Schedule I hereto. 

“Servicing Fees” shall mean, with respect to any Servicing Agreement, the servicing fees payable to Servicer and Home
Loan Servicing Solutions, Ltd. under the Sale Supplement and the Subject Servicing Agreements, including each “servicing fee” payable based on a percentage of the outstanding principal balance of the Mortgage Loans serviced pursuant
to such Servicing Agreement, but excluding any Ancillary Income, Prepayment Interest Excess or any amounts earned in connection with the investment of funds in the related Custodial Accounts and Escrow Accounts. 

“Servicing Transfer Date” shall have the meaning specified in the Sale Supplement. 

“Subject Servicing Agreement” shall mean, as of any date of determination, each Servicing Agreement with respect to
which the Servicing Transfer Date has occurred on or prior to such date and with respect to which the Subservicing Termination Date has not occurred on or prior to such date. 

  
 Subservicing
Supplement 

 “Target Ratio” for each calendar month shall mean the amount specified in
Schedule III with respect to such month. 
 (b) Any capitalized term used but not defined in this Subservicing Supplement
shall have the meaning assigned to such term in the Master Subservicing Agreement. 
 ARTICLE II. 

SUBSERVICING 
 2.1 Engagement as Subservicer. Servicer hereby engages Ocwen to act as subservicer, and Ocwen agrees to act as subservicer, with respect to the Mortgage Loans relating to those certain pooling and
servicing agreements or other servicing agreements listed in Schedule I hereto (the “Subject Servicing Agreements”) pursuant to the terms of the Master Subservicing Agreement, as supplement by this Subservicing Supplement, on
and after the related Servicing Transfer Date for such Subject Servicing Agreement. Except as set forth in this Subservicing Supplement or the Master Subservicing Agreement, Ocwen further agrees to be responsible for performing all of the duties and
obligations of Servicer and its subservicers under each Subject Servicing Agreement, and to meet any standards and fulfill any requirements applicable to Servicer or its subservicer under each Subject Servicing Agreement on and after the related
Servicing Transfer Date. 
 2.2 Servicing Transfer Procedures. Servicer and Ocwen each covenant and agree to following
the Servicing Transfer Procedures agreed pursuant to the Sale Supplement with respect to each Subject Servicing Agreement. 

2.3 Reference to Master Subservicing Agreement. Each of Servicer and Subservicer agrees that (a) this Subservicing Supplement
is a “Subservicing Supplement” executed pursuant to Section 2.1 of the Master Subservicing Agreement, (b) the terms of this Subservicing Supplement are hereby incorporated into the Master Subservicing Agreement with
respect to the Subject Servicing Agreements and the related Mortgage Loans to the extent set forth therein, (c) each of the Subject Servicing Agreements listed in Schedule I is a “Subject Servicing Agreement” as such term is
used in the Master Subservicing Agreement on and after the related Servicing Transfer Date, and (d) the terms of this Subservicing Supplement apply to the Subject Servicing Agreements specified herein and not to any other “Subject
Servicing Agreement” as that term is used in the Master Subservicing Agreement. In the event of any conflict between the provisions of this Subservicing Supplement and the Master Subservicing Agreement, the terms of this Subservicing Supplement
shall prevail. 
 ARTICLE III. 
 SERVICING FEES 
 3.1 Base Subservicing Fee. As compensation for its
services with respect to the Subject Servicing Agreements, Servicer shall pay Ocwen a monthly base subservicing fee for each calendar month during which Ocwen is servicing Mortgage Loans with respect to Subject Servicing Agreements pursuant to this
Subservicing Supplement equal to 12.00% of the 

  
 Subservicing
Supplement 

 
aggregate Servicing Fees actually received by Servicer and Home Loan Servicing Solutions, Ltd. pursuant to the Subject Servicing Agreements during such calendar month (the “Base
Subservicing Fee”). 
 3.2 Performance Fee. Servicer shall pay to Ocwen for each calendar month during which
Ocwen is servicing Mortgage Loans with respect to Subject Servicing Agreements pursuant to this Subservicing Supplement a performance fee (the “Performance Fee”) equal to the greater of (a) zero and (b) the excess, if any,
of the aggregate of all Servicing Fees actually received by Servicer pursuant to the Subject Servicing Agreements and with respect to the Deferred Servicing Agreements during such calendar month (whether directly pursuant to such Subject Servicing
Agreement or pursuant to the Sale Supplement, as applicable) over the sum of (i) the Monthly Servicing Fee for such calendar month and (ii) the Retained Servicing Fee for such calendar month, multiplied by (y) a fraction, (i) the
numerator of which is the average unpaid principal balance of all Mortgage Loans subject to the Subject Servicing Agreements during such calendar month and (ii) the denominator of which is equal to the sum of the average unpaid principal
balance of all Mortgage Loans subject to the Deferred Servicing Agreements during such calendar month and the average unpaid principal balance of all Mortgage Loans subject to the Subject Servicing Agreements during such calendar month, or such
other allocation percentage which is agreed by Servicer and Ocwen (the “Allocation Percentage”). The Performance Fee, if any, for any calendar month will be reduced by 4.25% per annum (i.e., 0.3542% per month) of the
Excess Servicing Advances, if any, for such calendar month multiplied by the Allocation Percentage, and the amount of any such reduction in the Performance Fee shall be retained by Servicer. If the Closing Date does not occur on the first day of a
calendar month, the Performance Fee for the period from the Closing Date to the last of the calendar month in which the Closing Date occurs shall be calculated in a pro rata manner based on the number of days in such period. 

ARTICLE IV. 
 MISCELLANEOUS 
 4.1 Incorporation. The provisions of Article
10 of the Master Subservicing Agreement are hereby incorporated into this Subservicing Supplement by reference, mutatis mutandis, as if its provisions were fully set forth herein. 

4.2 Third Party Beneficiaries. Ocwen and Servicer each acknowledges and agrees that the indenture trustee, on behalf of the
holders of related notes, with respect to any Servicing Advance Facility pursuant to which Servicer has transferred Servicer Advances made pursuant to a Servicing Agreement is an express third party beneficiary of this Subservicing Supplement and
the Subservicing Agreement solely with respect to the Servicing Agreements related to such Servicing Advance Facility. 

[Signature Page Follows] 

  
 Subservicing
Supplement 

 IN WITNESS WHEREOF, the parties hereto have caused this Subservicing Supplement to be
executed and delivered as of the date first above written. 
  

					
	HLSS HOLDINGS, LLC
			
		 	By:	 	 /s/ James Lauter

		 	Name:	 	James Lauter
		 	Title:	 	CFO
	
	OCWEN LOAN SERVICING, LLC
	By: Ocwen Mortgage Servicing, Inc., as its sole member
			
		 	By:	 	 /s/ Kenneth D. Najour

		 	Name:	 	Kenneth D. Najour
		 	Title:	 	Treasurer

  
 Subservicing
Supplement 

 SCHEDULE I 

SERVICING AGREEMENTS 
  

			
	 Investor #
	  	 Deal Name

	 3447
	  	C-BASS 2007-CB4
	 3163
	  	GSAMP 2007-HE1
	 3567
	  	Nomura 2007-3
	 3237
	  	PC 2006-1
	 3436
	  	C-BASS 2006-CB7
	 3158
	  	GSAMP 2006-HE7
	 3217
	  	Nomura 2006-FM2
	 3038
	  	CMLTI 2007-AMC3
	 3166
	  	GSAMP 2007-NC1
	 3025
	  	C-BASS 2007-MX1
	 2967
	  	ARSI 2004-W6
	 2966
	  	ARSI 2004-W5
	 2963
	  	ARSI 2003-W3
	 3418
	  	SURF 2003-BC4
	 2988
	  	C-BASS 2004-CB2
	 2948
	  	ABSC 2004-HE10
	 3209
	  	MORGAN STANLEY 2003-HE1
	 3088
	  	Fremont 2004-A
	 3110
	  	FREMONT HM LN TR 2004-1
	 3471
	  	Fieldstone 2005-1
	 3410
	  	Soundview 2005-3
	 3108
	  	FREMONT HM LN TR 2004-2
	 3414
	  	STALT 2006-1F
	 3000
	  	C-BASS 2005-CB6
	 2958
	  	AMIT 2005-1
	 3085
	  	First NLC 2005-2
	 3093
	  	Fremont 2005-2
	 3008
	  	C-BASS 2006-CB4
	 3169
	  	GSAMP Trust 2005-WMC3
	 3226
	  	Ownit 2006-2
	 2945
	  	ABFC 2006-HE1
	 3448
	  	C-BASS 2007-CB5
	 3159
	  	GSAMP 2006-NC1
	 3573
	  	Nomura 2007-2
	 3416
	  	SURF 2003-BC2
	 2962
	  	ARSI 2003-W1
	 2961
	  	AMSI 2004-FR1

  
 Sch I-1

			
	 3338
	  	RALI 2006-QS17
	 3382
	  	RAMP 2005-RP3
	 2989
	  	C-BASS 2004-CB3
	 2984
	  	C-BASS 2003-CB5
	 3196
	  	MLMI 2003-WMC2
	 3215
	  	NCHELT 2003-A
	 3145
	  	GSAMP 2004-NC1
	 2991
	  	C-BASS 2004-CB5
	 3469
	  	Fieldstone 2004-4
	 2987
	  	C-BASS 2004-CB1
	 3468
	  	Fieldstone 2004-3
	 2992
	  	C-BASS 2004-CB6
	 2994
	  	C-BASS 2004-CB8
	 2998
	  	C-BASS 2005-CB3
	 2990
	  	C-BASS 2004-CB4
	 2957
	  	AMIT 2004-1
	 3224
	  	Ownit 2005-5
	 3037
	  	CMLTI 2006-SHL1
	 3026
	  	C-BASS 2007-RP1
	 3441
	  	C-BASS 2006-RP2
	 3233
	  	PARK PLACE 2005-WLL1
	 3230
	  	Ownit 2006-6
	 3235
	  	PC 2005-3
	 3197
	  	MLMI 2007-HE2
	 3005
	  	C-BASS 2006-CB1
	 3081
	  	Fieldstone 2007-1
	 3111
	  	GE WMC 2005-1
	 3153
	  	GSAMP 2006-HE2
	 3227
	  	Ownit 2006-3
	 3155
	  	GSAMP 2006-HE4
	 3411
	  	Soundview 2006-1
	 3474
	  	Fieldstone 2006-1
	 3231
	  	Ownit 2006-7
	 3078
	  	Fieldstone 2006-2
	 3228
	  	Ownit 2006-4
	 3433
	  	C-BASS 2005-CB8
	 3152
	  	GSAMP 2006-HE1
	 3079
	  	Fieldstone 2006-3
	 3160
	  	GSAMP 2007-FM1
	 3112
	  	GE WMC 2005-2
	 3164
	  	GSAMP 2007-HE2
	 3426
	  	TERWIN 2003-HE2
	 3415
	  	SURF 2003-BC1
	 3309
	  	Provident 1998-4

  
 Sch I-2

			
	 2979
	  	C-BASS 2002-CB5
	 2947
	  	ABSC 2001-HE2
	 2944
	  	ABFC 2004-AHL1
	 3449
	  	CITI 2003-HE1
	 3319
	  	RAAC 2006-SP3
	 2975
	  	C-BASS 2002-CB1
	 2950
	  	ACE 2003-FM1
	 2986
	  	C-BASS 2003-RP1
	 2981
	  	C-BASS 2003-CB1
	 3143
	  	GSAMP 2003-SEA
	 2980
	  	C-BASS 2002-CB6
	 3200
	  	MLMLI 2004-HE1
	 2995
	  	C-BASS 2004-RP1
	 3320
	  	RAAC 2006-SP4
	 2976
	  	C-BASS 2002-CB2
	 3427
	  	TERWIN 2003-HE4
	 3082
	  	Finance America 2003-1
	 3323
	  	RAAC 2007-SP3
	 3194
	  	Meritage 2003-1 {Provident}
	 2982
	  	C-BASS 2003-CB2
	 3403
	  	SBM7 2002-CIT1
	 2973
	  	C-BASS 2001-CB3
	 3206
	  	MORGAN STANLEY 2002-NC2
	 3205
	  	MORGAN STANLEY 2002-NC1
	 2977
	  	C-BASS 2002-CB3
	 3220
	  	Ownit 2005-1
	 3219
	  	OWNIT 2004-1
	 3193
	  	Merill Lynch2003-HE1-Provident
	 3312
	  	Provident 2000-2
	 2983
	  	C-BASS 2003-CB3
	 3204
	  	MORGAN STANLEY 2002-HE3
	 3080
	  	Fieldstone 2006-S1
	 2968
	  	ARSI 2004-W7
	 2943
	  	ABFC 2003-AHL1
	 3417
	  	SURF 2003-BC3
	 2951
	  	ACE 2003-HS1 (Provident)
	 3207
	  	MORGAN STANLEY 2002-NC4
	 3211
	  	MORGAN STANLEY 2003-NC3
	 3311
	  	Provident 2000-1
	 3406
	  	SBMSI 2001-2
	 3212
	  	MORGAN STANLEY 2003-NC4
	 3455
	  	CFSB 2003-HE5
	 3434
	  	C-BASS 2005-RP1
	 3208
	  	MORGAN STANLEY 2002-NC5

  
 Sch I-3

			
	 3450
	  	CMLT 2004-RES1
	 3420
	  	SURF 2004-BC1
	 3202
	  	MORGAN STANLEY 2002-AM3
	 3087
	  	Fremont 2003-B
	 2949
	  	ABSC 2004-HE4
	 3409
	  	Soundview 2003-1
	 2996
	  	C-BASS 2005-CB1
	 2954
	  	ACE 2004-RM2
	 3470
	  	Fieldstone 2004-5
	 2985
	  	C-BASS 2003-CB6
	 3144
	  	GSAMP 2004-AHL
	 3475
	  	Fremont 2004-C
	 3210
	  	MORGAN STANLEY 2003-NC2
	 3412
	  	Soundview 2006-A
	 3147
	  	GSAMP 2005-NC1
	 2997
	  	C-BASS 2005-CB2
	 3084
	  	Finance America 2004-3
	 3435
	  	C-BASS 2005-RP2
	 3083
	  	FINANCE AMERICA 2004-1
	 3185
	  	GSRPM 2006-1
	 3310
	  	Provident 1999-3
	 3308
	  	PPT 2004-1
	 3232
	  	Ownit 2006-OT1
	 3027
	  	C-BASS 2007-SL1
	 3421
	  	SURF 2004-BC2
	 3419
	  	SURF 2004-AA1
	 2993
	  	C-BASS 2004-CB7
	 3146
	  	GSAMP 2004-NC2
	 3454
	  	CFSB 2003-HE4
	 3456
	  	CFSB 2003-HE7
	 3422
	  	SURF 2004-BC3
	 2953
	  	ACE 2004-FM2
	 3476
	  	Fremont 2004-D
	 3222
	  	Ownit 2005-3
	 3028
	  	C-BASS 2007-SP1
	 3432
	  	C-BASS 2005-CB7
	 3213
	  	MORGAN STANLEY 2003-NC8
	 3443
	  	C-BASS 2006-SL1
	 3423
	  	SURF 2004-BC4
	 3424
	  	SURF 2005-BC1
	 3221
	  	Ownit 2005-2
	 3401
	  	SABR 2004-NC1
	 2999
	  	C-BASS 2005-CB5
	 2955
	  	ACE 2005-AG1

  
 Sch I-4

			
	 3029
	  	C-BASS 2007-SP2
	 3095
	  	Fremont 2005-B
	 3440
	  	C-BASS 2006-RP1
	 3039
	  	C-BASS 2005-CB4
	 3109
	  	FREMONT HM LN TR 2004-4
	 3094
	  	Fremont 2005-A
	 3162
	  	GSAMP 2007-H1
	 3141
	  	GSAMP 2002-HH
	 3223
	  	Ownit 2005-4
	 3229
	  	Ownit 2006-5
	 3439
	  	C-BASS 2006-MH1
	 3225
	  	Ownit 2006-1
	 3472
	  	Fieldstone 2005-2
	 2946
	  	ABFC 2007-NC1
	 3096
	  	Fremont 2005-C
	 3473
	  	Fieldstone 2005-3
	 3006
	  	C-BASS 2006-CB2
	 3167
	  	GSAMP Trust 2005-HE5
	 3097
	  	Fremont 2005-D
	 3099
	  	Fremont 2006-2
	 3100
	  	Fremont 2006-A
	 3156
	  	GSAMP 2006-HE5
	 3154
	  	GSAMP 2006-HE3
	 3101
	  	Fremont 2006-B
	 2956
	  	ACE 2006-FM1
	 3098
	  	Fremont 2005-E
	 3104
	  	Fremont 2006-E
	 3103
	  	Fremont 2006-D
	 3102
	  	Fremont 2006-C
	 3442
	  	C-BASS 2006-SC1
	 3565
	  	ACE 2003-NC1 {Provident}
	 2952
	  	ACE 2004-1 (Provident)
	 3148
	  	GSAMP 2005-WMC1
	 3009
	  	C-BASS 2006-CB5
	 3236
	  	PC 2005-4
	 3437
	  	C-BASS 2006-CB8
	 3007
	  	C-BASS 2006-CB3
	 3188
	  	JPMAC 2005-FRE1
	 3216
	  	Nomura 2006-FM1
	 3477
	  	Fremont 2005-1
	 3149
	  	GSAMP 2005-WMC2
	 3024
	  	C-BASS 2007-CB6
	 3446
	  	C-BASS 2007-CB3
	 3157
	  	GSAMP 2006-HE6

  
 Sch I-5

			
	 3113
	  	GE-WMC 2006-1
	 3010
	  	C-BASS 2006-CB6
	 3444
	  	C-BASS 2007-CB1
	 3438
	  	C-BASS 2006-CB9
	 3151
	  	GSAMP 2006-FM3
	 3150
	  	GSAMP 2006-FM2
	 3170
	  	GSAMP Trust 2006-HE8
	 3161
	  	GSAMP 2007-FM2
	 3445
	  	C-BASS 2007-CB2
	 2519
	  	ACE 2006-HE1
	 2594
	  	CSSLT 2006-1
	 2704
	  	EquiFirst 2005-1 (Grwch)
	 2705
	  	First Franklin FFML 2005-FF1 (Barclays)
	 2706
	  	MSAC 2007-HE1
	 2707
	  	MSHEL 2007-2
	 2720
	  	Saxon 06-2
	 2721
	  	Saxon 03-3
	 2723
	  	Saxon 04-3
	 2724
	  	Saxon 05-1
	 2725
	  	ABFC 2007-WMC1
	 2726
	  	MSAC 2007-NC3
	 2728
	  	MSAC 2007-HE7
	 2732
	  	Soundview 2006-EQ1
	 2733
	  	MSAC 2007-HE6
	 2736
	  	SAST 2007-3
	 2740
	  	First Franklin 2002-FF2
	 2741
	  	First Franklin 2002-FF4
	 2746
	  	IXIS RE Capital Trust 2005-HE3
	 2747
	  	IXIS RE Capital Trust 2005-HE4
	 2748
	  	Morgan Stanley IXIS 2006-1
	 2750
	  	IXIS RE Capital Trust 2006-HE1
	 2760
	  	Morgan Stanley ST TR I 2007-1
	 2762
	  	Natixis 2007-HE2
	 2763
	  	NCFC 2006-MTA-1
	 3801
	  	NCFC 2006-1
	 3806
	  	NMFT 2007-1
	 3814
	  	ABSC 2004-HE9 (CSFB) 1/15/05
	 3819
	  	Meritage 2005-1 (Grwch)
	 3829
	  	ACE 2006-NC1 (Deutsche)
	 3833
	  	SABR 2005-FR2 (Barclays)
	 3834
	  	ABSC 2005-HE2 (CSFB)
	 3837
	  	FIRST FRANKLIN 2004-FFH3 (Grwch)

  
 Sch I-6

			
	 3839
	  	Meritage 2004-2 (Grwch)
	 3842
	  	SAST 2007-4
	 3857
	  	Saxon 02-3
	 3858
	  	Saxon 03-1
	 2699
	  	ABSC 2004-HE5 (CSFB)
	 2700
	  	ABSC 2004-HE7 (CSFB) 11/15/04
	 2703
	  	EquiFirst 2004-2 (Grwch)
	 2716
	  	SAST 2007-1
	 2717
	  	Saxon 05-2
	 2722
	  	Saxon 04-2
	 2727
	  	MSAC 2007-HE5
	 2729
	  	NMFT 2007-2
	 2731
	  	Saxon 06-3
	 2734
	  	Saxon 04-1
	 2735
	  	MSAC 2007-NC4
	 3793
	  	Soundview 2001-1 (Grwch) FASCO
	 3813
	  	SABR 2005-FR1 (Barclays)
	 3815
	  	ACE 2005-RM1 (Deutsche)
	 3817
	  	Soundview Home Loan Trust 2004-1 (Grwch)
	 3818
	  	Soundview 2004-WMC1 (Grwch)
	 3820
	  	Soundview 2005-2 (Grwch)
	 3828
	  	ACE 2005-RM2 (Deutsche)
	 3830
	  	ACE 2006-ASAP1 (Deutsche)
	 3831
	  	MSHEL 2007-1
	 3832
	  	MSAC 2007-HE4
	 3835
	  	First Franklin 2004-FFH2 (Grwch)
	 3836
	  	First Franklin 2004-FF5 (Grwch)
	 3838
	  	ABFC 2005-HE2 (B of A)
	 3840
	  	Meritage 2005-2 (Grwch)
	 3849
	  	Saxon 00-3
	 3854
	  	Saxon 02-2
	 3855
	  	Saxon 03-2
	 3566
	  	Morgan Stanley 2002-HE1
	 326
	  	IMC HELOT 1998-7
	 344
	  	ORMBS 1999-R2
	 413
	  	Delta Funding Series 1997-2
	 414
	  	Delta Funding Series 1997-3
	 416
	  	Delta Funding Series 1998-1
	 460
	  	Delta Funding Series 1999-2
	 461
	  	Delta Funding Series 1999-3
	 465
	  	Delta Funding Series 1999-1
	 520
	  	Ocwen 1998-R2
	 527
	  	BCF 1997-R2

  
 Sch I-7

			
	 554
	  	SBMS 1997-HUD1
	 596
	  	Amreit Eagle
	 598
	  	Lehman Securitization 1998-2
	 2046
	  	Metropolitan 1997-B
	 2047
	  	Metropolitan 1998-A
	 2048
	  	Metropolitan 1998-B
	 2050
	  	Metropolitan 1999-B
	 2052
	  	MAFI II REMIC TRUST 1999-D S/S
	 2063
	  	MSDW 2001-NC1
	 2141
	  	Salomon 2001-NC2
	 2143
	  	Delta Funding Series 2001-2
	 2155
	  	MSDW 2001-NC3
	 2175
	  	NCMC 2002-NCA
	 2190
	  	RMAC 2002-2
	 2216
	  	RMAC 2002-3
	 2234
	  	RMAC 2002-4
	 2239
	  	RMAC 2003-1
	 2266
	  	RMAC 2003-2
	 2302
	  	RMAC 2003-3
	 2319
	  	RMAC 2003-4
	 2543
	  	GSAMP 2006-SEA1
	 2584
	  	GSRPM 2006-2
	 2601
	  	GSAMP 2007-SEA1
	 2614
	  	GSRPM 2007-1
	 2713
	  	NMFT 2004-2
	 3789
	  	ABSC 2001-HE1
	 3791
	  	ACE 2002-HE1
	 3816
	  	ACE 2005-HE4
	 331
	  	Lehman/Sasco 1999SP-1
	 356
	  	Norwest/Lehman/Sasco 98-8
	 361
	  	Amresco Residential Securities Corp.
	 363
	  	Amresco 1998-3
	 383
	  	First Alliance 1997-4
	 385
	  	First Alliance 1998-2
	 387
	  	First Alliance 1998-4
	 388
	  	First Alliance 1999-1
	 390
	  	First Alliance 1999-3
	 395
	  	Amresco 1997-1
	 396
	  	Amresco 1997-2
	 397
	  	Amresco 1997-3
	 535
	  	BCF 1996-R1
	 549
	  	BCF 1997-R1
	 561
	  	BCF 1997-R3
	 569
	  	Ocwen 1998-R1
	 595
	  	Ocwen 1998-R3
	 3823
	  	GSAA HOME EQUITY 2006-2

  
 Sch I-8

 SCHEDULE II 

RETAINED SERVICING FEE PERCENTAGE 
  

					
	 From

Month1

	  	 To

Month
	  	 Retained Fee

	 1
	  	3	  	28.50 bps
	 4
	  	6	  	27.75 bps
	 7
	  	9	  	27.00 bps
	 10
	  	12	  	26.00 bps
	 13
	  	15	  	25.25 bps
	 16
	  	18	  	24.00 bps
	 19
	  	21	  	23.25 bps
	 22
	  	24	  	22.00 bps
	 25
	  	27	  	22.00 bps
	 28
	  	30	  	21.00 bps
	 31
	  	33	  	20.50 bps
	 34
	  	36	  	20.00 bps
	 37
	  	39	  	19.00 bps
	 40
	  	72	  	19.00 bps

  

	1 	 Starting with January 2013. 

  
 Sch II-1

 SCHEDULE III 

TARGET RATIO SCHEDULE 
  

					
	Month2	  	Target Advance Ratio	 
	 1
	  	 	5.25	% 
	 2
	  	 	5.13	% 
	 3
	  	 	5.01	% 
	 4
	  	 	4.86	% 
	 5
	  	 	4.73	% 
	 6
	  	 	4.60	% 
	 7
	  	 	4.50	% 
	 8
	  	 	4.39	% 
	 9
	  	 	4.30	% 
	 10
	  	 	4.21	% 
	 11
	  	 	4.14	% 
	 12
	  	 	4.07	% 
	 13
	  	 	4.00	% 
	 14
	  	 	3.93	% 
	 15
	  	 	3.86	% 
	 16
	  	 	3.75	% 
	 17
	  	 	3.65	% 
	 18
	  	 	3.55	% 
	 19
	  	 	3.45	% 
	 20
	  	 	3.36	% 
	 21
	  	 	3.26	% 
	 22
	  	 	3.21	% 
	 23
	  	 	3.15	% 
	 24
	  	 	3.09	% 
	 25
	  	 	3.04	% 
	 26
	  	 	2.99	% 
	 27
	  	 	2.94	% 
	 28
	  	 	2.85	% 
	 29
	  	 	2.78	% 
	 30
	  	 	2.70	% 
	 31
	  	 	2.63	% 
	 32
	  	 	2.55	% 
	 33
	  	 	2.48	% 
	 34
	  	 	2.44	% 
	 35
	  	 	2.40	% 

  

	2 	 Starting with January, 2013. 

  
 Sch III-1

					
	Month2	  	Target Advance Ratio	 
	 36
	  	 	2.35	% 
	 37
	  	 	2.31	% 
	 38
	  	 	2.27	% 
	 39
	  	 	2.23	% 
	 40
	  	 	2.17	% 
	 41
	  	 	2.11	% 
	 42
	  	 	2.05	% 
	 43
	  	 	2.00	% 
	 44
	  	 	1.94	% 
	 45
	  	 	1.89	% 
	 46
	  	 	1.86	% 
	 47
	  	 	1.82	% 
	 48
	  	 	1.79	% 
	 49
	  	 	1.76	% 
	 50
	  	 	1.76	% 
	 51
	  	 	1.75	% 
	 52
	  	 	1.75	% 
	 53
	  	 	1.75	% 
	 54
	  	 	1.75	% 
	 55
	  	 	1.75	% 
	 56
	  	 	1.75	% 
	 57
	  	 	1.75	% 
	 58
	  	 	1.75	% 
	 59
	  	 	1.75	% 
	 60
	  	 	1.75	% 
	 61
	  	 	1.75	% 
	 62
	  	 	1.75	% 
	 63
	  	 	1.75	% 
	 64
	  	 	1.75	% 
	 65
	  	 	1.75	% 
	 66
	  	 	1.75	% 
	 67
	  	 	1.75	% 
	 68
	  	 	1.75	% 
	 69
	  	 	1.75	% 
	 70
	  	 	1.75	% 
	 71
	  	 	1.75	% 
	 72
	  	 	1.75	% 

  
 Sch III-2Transition Employment Agreement between Richard E. Stoddard and Business Staffin

 Exhibit 10.1 
 TRANSITION EMPLOYMENT AGREEMENT 

This TRANSITION EMPLOYMENT AGREEMENT (“Agreement”) is made and entered into effective at 12:01 a.m. PST on
January 1, 2013 (the “Effective Date”), by and between RICHARD E. STODDARD (“Employee”) and BUSINESS STAFFING, INC, a Delaware corporation (“BSI” or the “Company”) (sometimes
collectively referred to herein as the “Parties”). 
 RECITALS 

A. Employee is currently employed by BSI pursuant to that certain Employment Agreement dated effective January 1, 2007, which
agreement was amended by that First Amendment to the Employment Agreement of Employee dated November 4, 2009, as further amended by that Second Amendment to the Employment Agreement of Employee dated May 11, 2011 (collectively, the
“Original Employment Agreement”). 
 B. Under the terms of the Original Employment Agreement, Employee,
as a leased employee of BSI, serves as the President and Chief Executive Officer of Kaiser Ventures LLC (“Kaiser”). Employee also currently serves on the Board of Managers of Kaiser and is Chairman of the Board of Managers.

 C. Kaiser has been rehabilitating, developing and selling its assets over a number of years. Kaiser sold its ownership
interest in a material operating asset in April 2012 and Kaiser’s last remaining material asset, other than cash and securities, involves the ownership of subsidiaries that own or control property at Eagle Mountain, California and at Lake
Tamarisk, California (collectively the “Eagle Mountain Assets”). 
 D. Kaiser’s Board of Managers
is considering and soon anticipates approving a Plan of Dissolution and Complete Liquidation of Kaiser (“Plan of Dissolution”) and a Second Amended and Restated Members Operating Agreement (“New Operating
Agreement”) for Kaiser. The Plan of Dissolution and New Operating Agreement would be submitted to the members for consideration and approval at a members’ meeting to be held in early 2013. 

E. Given the reduction of Kaiser’s assets in 2012, the anticipated Plan of Dissolution and the contemplated New Operating
Agreement, and in recognition of the need by Kaiser for Employee’s continuing availability and services, the Parties desire to terminate the Original Employment Agreement and to enter into this Agreement. Accordingly, this Agreement provides,
among other things, that Employee shall continue as an employee of BSI until the end of the month in which the date of the vote of Kaiser’s members to approve the Plan of Dissolution and the New Operating Agreement. In addition, this Agreement
reflects a reduction in the compensation and the benefits payable to Employee. 
 NOW, THEREFORE, for and in
consideration of the mutual covenants and obligations contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: 

1. EMPLOYMENT, POSITIONS AND
DUTIES. BSI hereby employs Employee upon the terms and conditions set forth in this Agreement. Employee acknowledges and agrees that he will be a leased employee to Kaiser.
Employee’s positions with Kaiser as a leased employee shall be President, Chief Executive Officer and Chairman of the Board. In such capacities, Employee shall have the responsibilities and duties normally incident to such positions, including,
but not limited to, 

  
 1 

 
those duties and responsibilities set forth in SCHEDULE “A” attached hereto and incorporated herein by this reference and such other duties and
responsibilities as may be reasonably assigned to him from time-to-time by BSI or Kaiser’s Board of Managers. Employee agrees to devote whatever business time and attention is necessary to the discharge of his duties and responsibilities under
this Agreement. Employee shall be able to engage in other business endeavors whether as an employee or consultant to another entity or otherwise; provided, however: (i) no other endeavor of Employee will interfere with Employee’s ability
to carry out his duties hereunder; and (ii) any such endeavor will shall not conflict with Employee’s duties and obligation under this Agreement or his duties as an officer and a member of the Board of Managers. 

2. TERM. Employee’s employment under the terms of this
Agreement shall commence on the Effective Date, and shall continue until the last day of the calendar month in which the members of Kaiser vote to approve the Plan of Dissolution (“Employment Term”) unless sooner terminated as
provided herein. On the Effective Date, the Original Employment Agreement will terminate and be of no further force and effect. 

3. BASE SALARY. As of the Effective Date, Employee’s annual base salary shall be
reduced as provided below: 
 a. If there has not been any closing on the transfer of substantially all of the
Eagle Mountain Assets to a third-party, Employee’s annual base salary shall be reduced to $242,695. 
 b.
Once and if there is a closing on the transfer of substantially all the Eagle Mountain Assets to a third-party, Employee’s base salary shall be further reduced to $182,021 starting with the next pay period following the date of the
closing; 
 4. TERMINATION OF INCENTIVE PERFORMANCE
BASED BONUS PROGRAM. Employee acknowledges and agrees that as of the Effective Date, the Executive Officer New Revenue Incentive Participation Plan
in which Employee participates is terminated and that the incentive bonus that may due Employee pursuant to the Executive Officer New Revenue Incentive Participation Plan for calendar year 2012 shall be paid on or before February 28, 2013.

 5. TERMINATION OF ANNUAL GRANT OF
CLASS A UNITS. Under the terms of the Original Employment Agreement, BSI caused to be issued to Employee 25,000 Kaiser Class A Units on an annual basis.
Employee acknowledges and agrees that beginning on the Effective Date, there shall be no annual grant of Class A Units to Employee as a part of his compensation and that the issuance of 25,000 Class A Units for the year 2012 under the
Original Employment Agreement shall have been made as of December 31, 2012. 
 6. TERMINATION
OF COLA ADJUSTMENT TO ANNUAL BASE SALARY. Under the terms of the Original Employment Agreement Employee’s annual base salary was to be automatically
increased by a cost of living adjustment as provided therein. Employee acknowledges and agrees to waive the automatic cost of living adjustment to his annual base salary for 2013 and to terminate the automatic cost of living adjustment as of the
Effective Date. 
 7. TERMINATION OF SERP CONTRIBUTION BY BSI.
Employee acknowledges and agrees to the termination by BSI of any further contributions on behalf of Employee pursuant to BSI’s Supplemental Executive Retirement Plan by BSI as of the Effective Date. 

  
 2 

 8. CLASS C AND D UNITS. Employee is the
holder of Class C Units of Kaiser. Employee acknowledges that the New Operating Agreement modifies the terms of the Class C and D Units and he represents to BSI that he has consented to such modifications. 

9. OTHER BENEFITS. During the Employment Term, Employee
will be entitled to participate in all benefits provided by BSI to its employees and to senior executives in accordance with and subject to BSI’s policies and procedures as they may exist from time-to-time, including, but not limited to,
medical and dental insurance, life insurance, disability insurance, 401(k) savings plan, any pension or retirement plan, deferred compensation plan, education and seminar reimbursement, car allowance, and reimbursement of reasonable expenses for
company business. These benefits shall be at least at the same level as provided to Employee as of the day prior to the Effective Date except that contributions to BSI’s 401(k) savings plan, money purchase plan and supplemental executive
retirement plan of BSI shall be appropriately modified to reflect the current compensation of Employee. Benefits shall also include life insurance for the benefit of Employee with a face amount of not less than that in effect as of December 31,
2012, with premium paid in accordance with BSI’s policies in effect on December 31, 2012, except that BSI may self-insure if insurance is not available on a commercially reasonably basis. In addition, BSI shall only be responsible for the
payment of the prorated portion of the premium for the Employment Term for the first level (first one-third) of Employee’s life insurance benefit and the third level (the last one-third) of such coverage. Employee shall be responsible for the
payment of the premium for the second level (second 1/3) of coverage. Employee shall be entitled to four (4) weeks of paid vacation per year but such vacation shall be prorated on a monthly basis. 

10. TERMINATION; COMPENSATION PAYABLE UPON
TERMINATION. This Agreement shall terminate upon: (i) expiration of the Employment Term; (ii) Employee’s death; (iii) Employee’s permanent disability; or
(iv) upon mutual agreement of the Company and Employee. 
 a. Upon termination of this Agreement for any
reason, BSI shall continue to provide and pay its portion of all of Employee’s health insurance, dental insurance, vision insurance, life insurance benefits for a period of twenty four (24) months following the date of termination.

 b. All amounts due Employee shall be payable in one lump sum or as may be mutually agreed upon between Employee
and BSI as may be permitted under applicable law or by the applicable plan. 
 c. Under the terms of the Original
Employment Agreement, Employee was also to be paid two years’ of his annual base salary as severance compensation upon a termination without “cause” or upon the termination of the term of his employment. The Parties acknowledge and
agree that in exchange for the Parties entering into this Agreement which reflects a change in Employee’s annual compensation and a reduction or elimination of certain compensation programs benefiting Employee (which taken together could also
be considered constructive termination of Employee’s employment under the Original Employment Agreement), that the cash severance compensation provided under the Original Employment Agreement was paid on or before December 31, 2012, and
that except for the benefits provided or referenced in this Agreement, no further severance shall be due Employee by BSI. 

11. DISABILITY BENEFITS. In the event of the disability of Employee for any reason,
BSI shall continue to pay to Employee his salary and benefits less short-term disability payments and less long-term disability payments through the date of the Employment Term. 

  
 3 

 12. DEATH
BENEFITS. In the event of Employee’s death, BSI shall pay to Employee’s personal representative or his estate, Employee’s benefits through the end of the month in
which the death occurred plus the benefits that would be payable to Employee upon termination as provided in Paragraph 10 of this Agreement. 
 13. PAYMENTS PURSUANT TO OTHER COMPENSATION PLANS. In addition to the compensation and benefits to be paid
to Employee pursuant to this Agreement, as a result of the termination of Employee’s employment with BSI, Employee (or his estate as applicable) shall be paid or continue to receive the benefit of existing and future retirement and deferred
compensation plans subject to and in accordance with the terms of each respective plan. As of the Effective Date of this Agreement, and due to the modifications provided in Paragraphs 4, 5, 6, 7 and 8 of this Agreement, Employee and BSI agree that
the following plans will continue in effect: (i) Business Staffing, Inc. 401(k) Plan; (ii) Business Staffing, Inc. Supplemental Executive Retirement Plan; (iii) Class C and D Units, as being modified; and (iv) the Executive
Officer New Revenue Incentive Participation Plan through the payment of the bonus that may be due for calendar year 2012 that is to be paid on or before February 28, 2013. 

14. CONFIDENTIALITY. 
 a. EMPLOYEE’S OBLIGATIONS. Employee agrees that (a) except as provided in this Agreement Employee shall maintain the
confidential nature of any Proprietary Information received or acquired by him, and (b) Employee shall use such Proprietary Information solely for the purpose of meeting his obligations under this Agreement and not in connection with any other
business or activity. “Proprietary Information” means all oral, written or recorded information about or related to BSI, Kaiser or any of their Affiliates or its or their technology, assets, liabilities, or business, whether
acquired before or after the date hereof, and regardless of the manner in which it is acquired, together with any documents or other materials prepared by Employee which contain or reflect such information. After termination of employment upon
demand of BSI, or Kaiser, as applicable, Employee agrees to return or destroy any and all materials containing any Proprietary Information. 
 b. COMPANY OBLIGATIONS. BSI agrees that it shall maintain and provide information regarding Employee in accordance with generally accepted
industrial and business practices and that it will seek to require Kaiser to follow the same requirements. 
 c.
LIMITATIONS ON CONFIDENTIAL OBLIGATIONS AND USE RESTRICTIONS. The restrictions in Paragraphs 14a. and b. above do not
apply to information which the disclosing Party can demonstrate (i) is then in the public domain by acts not attributable to such disclosing Party or (ii) is hereafter received on an unrestricted basis by such disclosing party from a third
party source who, to such disclosing party’s knowledge after due inquiry, is not and was not bound by confidentiality obligations to BSI, Kaiser or any Affiliate thereof (in the case of Paragraph 14.a.) or to Employee (in the case of Paragraph
14.b.). In addition, Employee and BSI and, Kaiser or any Affiliate is permitted to disclose any Proprietary Information as necessary in the defense or prosecution of any legal action. 

d. ACTIONS IF DISCLOSURE REQUIRED. If Employee is required by
law to make any disclosure otherwise prohibited hereunder, such party shall use its best efforts to provide the other with prompt prior notice where possible so that (a) the other party (with the reasonable cooperation of the party required to
make such disclosure) may seek an appropriate protection order or other remedy and/or (b) the Parties can seek in good faith to agree on the appropriate scope and approach to disclosure. If a protective order or other remedy is not obtained,
the party required to make such disclosure may furnish only that portion of information protection hereby which it is legally compelled to disclose and shall use its reasonable efforts to obtain confidential treatment for all information so
disclosed. 

  
 4 

 e. INJUNCTION. Each Party agrees that remedies at law may be
inadequate to protect against breach of this Paragraph 14, and hereby agrees to the granting of injunctive relief without proof of actual damage. 
 15. MISCELLANEOUS. 
 a. DEDUCTIONS. Applicable federal and state income taxes, social security contributions (FICA), Medicare contributions, medical insurance premiums and any other appropriate or
customary deductions shall be withheld from any compensation paid to Employee by BSI. 
 b. ENTIRE
AGREEMENT; AMENDMENTS. This Agreement, the exhibits and schedules hereto state the entire understanding and agreement between the Parties with respect to its subject matter as of the date of this Agreement, and
may only be amended by a written instrument duly executed by Employee and BSI; and to the extent it directly impacts Kaiser, the written consent of Kaiser. 
 c. ASSIGNMENT. This Agreement and the rights and obligations of Employee may not be sold, transferred, assigned, pledged or hypothecated by Employee. 

d. NON-WAIVER. Failure to insist upon strict compliance with any provision of this Agreement
or the waiver of any specific event of non-compliance shall not be deemed to be or operate as a waiver of such provision or any other provision hereof or any other event of non-compliance. 

e. BINDING EFFECT. This Agreement shall be binding upon and inure to the benefit of BSI, its
successors and assigns and, Employee’s heirs, successors, and legal or personal representatives. 
 f.
HEADINGS. The headings throughout this Agreement are for convenience only and shall in no way be deemed to define, limit, or add to the meaning of any provision of this Agreement. 

g. CONTEXT. Whenever required by the context, the singular shall include the plural, the plural the
singular, and one gender such other gender as is appropriate. 
 h. NOTICES. All notices, request,
demands, consents and other communications hereunder shall be transmitted in writing and shall be deemed to have been duly given when hand delivered or sent by certified United States mail, postage prepaid, with return by certified requested,
addressed to the parties as follows: 
  

							
	 	 	 BUSINESS STAFFING, INC.

337 N. Vineyard Ave.,
4th Floor

Ontario, CA 91764
 ATTENTION:
General Counsel
	 	 	 	 
				
		 	WITH COPY TO:	 		 	

  

							
	 	 	 KAISER VENTURES LLC
 337 N. Vineyard Ave., 4th Floor
 Ontario, CA 91764
	 	 	 	 
		 	ATTENTION: Chairman of Human Relations Committee	 	

  

							
	 	 	 Richard E. Stoddard

5335 East 2ND.
Avenue
 Denver, Colorado 80220
	 	 	 	 

  
 5 

 i. COSTS. In any action taken to enforce the provisions of this
Agreement, the prevailing party shall be reimbursed all costs incurred in such legal action including reasonable attorney’s fees in such action. 
 j. SEVERABILITY. If any provision or clause of this Agreement, as applied to any party or circumstances shall be adjudged by a court to be invalid or unenforceable, said
adjudication shall in no manner effect any other provision of this Agreement, the application of such provision to any other circumstances or the validity or enforceability of this Agreement. 

k. DEFINITION OF AFFILIATE, ENFORCEABILITY BY
KAISER AND TERMINATION AS A LEASED EMPLOYEE. The term “Affiliate” for purposes of this Agreement shall mean any person
or entity now or hereafter in control, controlled by or in common control with the Company. It shall also include any direct or indirect subsidiary of the Company and any company in which the Company has more than a ten percent (10%) ownership
interest. The Parties agree that Kaiser shall be a third party beneficiary on this Agreement and shall have the right to enforce its terms. The Parties also agree that for purposes of this Agreement, that termination by Kaiser of Employee as a
leased employee shall also be deemed and shall be a termination of Employee by the Company. 
 l. GOVERNING
LAW. This Agreement shall be governed by and construed in accordance with the laws of the State of California. 
 IN WITNESS WHEREOF, the Parties hereto have executed this Employment Agreement to be effective as of the day and year first written above notwithstanding the actual date of signature. 

 

							
	“EMPLOYEE”	 	 	 	“BSI”
	RICHARD E. STODDARD	 	 	 	BUSINESS STAFFING, INC.
				
	 /s/ Richard E. Stoddard
	 		 	By:	 	 /s/ Terry L. Cook

	Richard E. Stoddard	 		 		 	Terry L. Cook 
		 		 		 	Vice President & Secretary

  
 6 

 CONSENT OF HUMAN RELATIONS
COMMITTEE AND UNCONDITIONAL GUARANTY 
 OF

 KAISER VENTURES LLC 

TO 
 TRANSITION EMPLOYMENT AGREEMENT OF RICHARD E. STODDARD 

The Human Relations Committee of Kaiser Ventures LLC (“Kaiser”) hereby consents to the Transition Employment Agreement
between Business Staffing, Inc. (the “Company”) and Richard E. Stoddard dated effective at 12:01 a.m. PST on January 1, 2013 (the “Transition Employment Agreement”) and the payment of all sums that may be
required of Kaiser to reimburse the Company under the terms of the Amended and Restated Administrative Services Agreement between the Company and Kaiser dated as of December 31, 2010, as it may be amended. Additionally, Kaiser Ventures LLC
hereby directly and unconditionally guarantees to Richard E. Stoddard the prompt and complete payment of all amounts and benefits due him under the terms of his Transition Employment Agreement including the payment of all sums Kaiser is required to
reimburse the Company related to his employment under the terms of the Amended and Restated Administrative Services Agreement as it may be amended; provided, however, Kaiser is not guarantying the severance benefits specified in Paragraph 10.a. of
this Transition Employment Agreement as Kaiser has already funded the amounts that may be due Employee pursuant thereto under the Terms of the Amended and Restated Administrative Services Agreement. 

 

							
	  	 	KAISER VENTURES LLC	 	  
		 	HUMAN RELATIONS COMMITTEE	 	
				
		 	By:	 	 /s/ Ronald E. Bitonti
	 	
		 		 	Ronald E. Bitonti, Committee Member	 	
				
		 	By:	 	 /s/ Gerald A. Fawcett
	 	
		 		 	Gerald A. Fawcett, Committee Member	 	
			
		 	KAISER VENTURES LLC	 	
				
		 	By:	 	 /s/ James F. Verhey
	 	
		 		 	James F. Verhey	 	
		 		 	Executive Vice President - CFO	 	

  
 7 

 SCHEDULE “A” 

RICHARD E. STODDARD 
 CHAIRMAN OF THE BOARD OF MANAGERS, CHIEF EXECUTIVE
OFFICER & PRESIDENT 
 These positions shall report directly to Kaiser Ventures LLC
(“Kaiser”) Board of Managers and the Company. The positions for Kaiser are to be filled by Business Staffing, Inc. through the services of Richard E. Stoddard. 
 RESPONSIBILITIES: 
 Even though a leased employee to
Kaiser, this position has total responsibility for every facet of the strategy, planning, operation, project implementation, performance and direction of Kaiser and all its subsidiaries. 

Within this framework of ultimate responsibility, Mr. Stoddard has delegated certain operational and implementation duties to the
Executive Vice Presidents of Kaiser. Shown below are strategic functions which will remain under the direct control of Mr. Stoddard as Chairman, CEO, and President: 

 

	 	•	 	 Corporate planning and strategy. 

  

	 	•	 	 Determination of the direction and goals of Kaiser. 

  

	 	•	 	 Future growth opportunity decisions. 

  

	 	•	 	 Development of all projects exit strategies. 

  

	 	•	 	 Major corporate financial or other resource commitments. 

 

	 	•	 	 All phases of investor relations. 

  

	 	•	 	 Relationships with major members. 

  

	 	•	 	 All phases of the corporation’s legal strategy, including compliance with laws and regulations. 

 

	 	•	 	 Outside auditor performance and relationship. 

  

	 	•	 	 Corporate accounting policies and financial reporting responsibilities. 

 

	 	•	 	 Corporate financing strategy and fiscal accountability. 

 

	 	•	 	 Major joint venture partner relations. 

  

	 	•	 	 Major negotiations on behalf of the Kaiser and the Company. 

 

	 	•	 	 Financial analysis and modeling of Kaiser opportunities. 

 

	 	•	 	 Political lobbying at the federal, State and local levels. 

 

	 	•	 	 Public relations and corporate participation policy. 

  

	 	•	 	 Agency relations and communications. 

  

	 	•	 	 Mine Reclamation, LLC Management. 

  

	 	•	 	 Establishment of policies for the conduct Kaiser’s and the Company’s business. 

 

	 	•	 	 Oversee the implementation of corporate policy. 

  

	 	•	 	 As chairman, conduct the meetings and business of the Board of Managers. 

 

	 	•	 	 Implement the decisions of the Board of Managers. 

  
 8

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