Document:

ex10_23.htm

Exhibit 10.23

 

AMENDMENT 2

to the

CoreLogic, Inc. Executive Supplemental Benefit Plan

WHEREAS, CoreLogic, Inc. (the “Company”) maintains the CoreLogic, Inc. Executive Supplemental Benefit Plan (the “Plan”);

WHEREAS, the Compensation Committee of the Board of Directors of the Company desires to clarify that participants cannot affect the timing of payments under the Plan by virtue of when they execute a separation agreement under Section 3.2; and

WHEREAS, the initial payment will be made on the last day of the month following the month in which the Executive’s Separation from Service occurs, regardless of whether the separation agreement has been executed but no further payments will be made if the Executive does not execute the agreement.

NOW, THEREFORE BE IT RESOLVED, that the last two sentences of the first paragraph of section 3.2 are amended to read as follows:

“If the Executive does not execute and submit to the Company the separation agreement within sixty (60) days following his Separation from Service, he shall not receive any further benefit under this Plan.  If the Executive fails to submit an annual written certification within thirty (30) days following the end of a year, he shall not receive any further benefits under this Plan.”

IN WITNESS WHEREOF, CoreLogic, Inc. has duly executed this Amendment 2 this 27th day of January, 2011.

CoreLogic, Inc.

	
By:

	
/s/ Maria Nalywayko

	 

 

1ex10_25.htm

Exhibit 10.25

 

AMENDMENT 2

to the

CoreLogic, Inc. Management Supplemental Benefit Plan

WHEREAS, CoreLogic, Inc. (the “Company”) maintains the CoreLogic, Inc. Management Supplemental Benefit Plan (the “Plan”);

WHEREAS, the Compensation Committee of the Board of Directors of the Company desires to clarify that participants cannot affect the timing of payments under the Plan by virtue of when they execute a separation agreement under Section 3.2; and

WHEREAS, the initial payment will be made on the last day of the month following the month in which the Executive’s Separation from Service occurs, regardless of whether the separation agreement has been executed but no further payments will be made if the Executive does not execute the agreement.

NOW, THEREFORE BE IT RESOLVED, that the last two sentences of the first paragraph of section 3.2 are amended to read as follows:

“If the Executive does not execute and submit to the Company the separation agreement within sixty (60) days following his Separation from Service, he shall not receive any further benefit under this Plan.  If the Executive fails to submit an annual written certification within thirty (30) days following the end of a year, he shall not receive any further benefits under this Plan.”

IN WITNESS WHEREOF, CoreLogic, Inc. has duly executed this Amendment 2 this 27th day of January, 2011.

CoreLogic, Inc.

	
By:

	
/s/ Maria Nalywayko

	  

 

1ex10_27.htm

Exhibit 10.27

AMENDMENT 2

to the

CoreLogic, Inc. Deferred Compensation Plan

Effective January 1, 2011, the CoreLogic, Inc. Deferred Compensation Plan (the “Plan”) is hereby amended pursuant to Plan section 9.1 as follows:

	
1.

	
The following new definition is added to Plan section 1.2:

“‘Vesting Change of Control’ means the occurrence of any of the following:

	
  

	
(1)

	
The consummation of a merger or consolidation of the Company with or into another entity or any other corporate reorganization, if 50% or more of the combined voting power of the continuing or surviving entity’s securities outstanding immediately after such merger, consolidation, or other reorganization is owned by persons who were not shareholders of the Company immediately prior to such merger, consolidation, or other reorganization.

	
  

	
(2)

	
The sale, transfer, or other disposition of all or substantially all of the Company’s assets or the complete liquidation or dissolution of the Company.

	
  

	
(3)

	
A change in the composition of the Board occurring within a two-year period, as a result of which fewer than a majority of the directors are Incumbent Directors.  ‘Incumbent Directors’ shall mean directors who are directors of the Company immediately following the consummation of the transactions contemplated by the Separation and Distribution Agreement by and between the Company and the First American Financial Corporation dated June 1, 2010 (‘Separation Agreement’).  ‘Incumbent Directors’ shall also include directors who are elected, or nominated for election, to the Board with the affirmative votes of at least a majority of the Incumbent Directors at the time of such election or nomination, but shall not include an individual not otherwise an Incumbent Director whose election or nomination is in connection with an actual or threatened proxy contest relating to the election of directors to the Company.

	
  

	
(4)

	
Any transaction as a result of which any person or group is or becomes the ‘beneficial owner’ (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended (‘Exchange Act’)), directly or indirectly, of securities of the Company representing at least 30% of the total voting power of the Company’s then outstanding voting securities.  For purposes of this paragraph, the term ‘person’ shall have the same meaning as when used in Sections 13(d) and 14(d) of the Exchange Act, but shall exclude: (i) a trustee or other fiduciary holding securities under an employee benefit plan of the Company or of a subsidiary of the Company; (ii) so long as a person does not thereafter increase such person’s beneficial ownership of the total voting power represented by the Company’s then outstanding voting securities, a person whose beneficial ownership of the total voting power represented by the Company’s then outstanding voting securities increases to 30% or more as a result of the acquisition of voting securities of the Company by the Company which reduces the number of such voting securities then outstanding; or (iii) so long as a person does not thereafter increase such person’s beneficial ownership of the total voting power represented by the Company’s then outstanding voting securities, a person that acquires directly from the Company securities of the Company representing at least 30% of the total voting power represented by the Company’s then outstanding voting securities.

  

  

  

A transaction shall not constitute a Vesting Change of Control if its sole purposes is to change the state of the Company’s incorporation or to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s securities immediately before such transaction.

	
2.

	
Plan section 3.5(b), “Company Contributions,” is amended to read in its entirety as follows:

	
  

	
“(b)

	
The Company may make additional contributions to the Company Contribution Accounts of Participants in this Plan in its sole discretion.  Notwithstanding anything in Article 5 to the contrary, the Company may impose vesting or other conditions with respect to any Company Contributions made pursuant to this Section 3.5(b).  If a Company Contribution made pursuant to this section 3.2(b) is subject to a vesting requirement of at least 12 months, then, within 30 days after a Participant obtains a legally-binding right to such contributions, he shall elect a form of distribution from among the options available under Plan section 3.2(a) other than a Scheduled Withdrawal; provided that the election is made at least 12 months in advance of the earliest date the contribution could vest.  Otherwise, the contribution (and earnings attributable thereto, if any) will be distributed in a lump sum on the Participant’s Payment Date.

Notwithstanding the foregoing, upon a Vesting Change of Control, the Company Contribution Accounts of Participants shall become 100% vested.”

[SIGNATURE ON FOLLOWING PAGE]

  

  

  

IN WITNESS WHEREOF, CoreLogic, Inc. has duly executed this Amendment 2 this 27th day of January, 2011.

CoreLogic, Inc.

	
By:

	
/s/ Maria Nalywaykoex10_29.htm

Exhibit 10.29

 

NON-EMPLOYEE DIRECTOR COMPENSATION SUMMARY

 

	
Annual Retainer

	 	$	60,000	 	1
	 	 	 	 	 	 
	
Equity Compensation2

	 	$	110,000	 	

3 in RSUs

	 	 	 	 	 	 
	
Audit Committee Chair – Annual Retainer

	 	$	25,000	 	4
	 	 	 	 	 	 
	
Compensation Committee Chair – Annual Retainer

	 	$	20,000	 	4
	 	 	 	 	 	 
	
Governance Committee Chair – Annual Retainer

	 	$	10,000	 	4
	 	 	 	 	 	 
	
Lead Director – Annual Retainer

	 	$	15,000	 	4
	 	 	 	 	 	 
	
Audit Committee Meeting Member – Annual Retainer

	 	$	10,000	 	5
	 	 	 	 	 	 
	
Compensation Committee Meeting Member – Annual Retainer

	 	$	10,000	 	5
	 	 	 	 	 	 
	
Governance Committee Meeting Member – Annual Retainer

	 	$	5,000	 	5
	 	 	 	 	 	 
	
Acquisition Committee Meeting Member – Annual Retainer

	 	$	5,000	 	5
	 	 	 	 	 	 
	
Fee for Attendance at Board and Committee Meetings in Excess of Designated Number

	 	$	2,000	 	6

  

	
1

	
Paid in cash quarterly in equal installments, in advance, on the first day of the quarter. Paid pro rata for directors joining the Board after the payment date.

	
2

	
On February 28, 2007, the Board of Directors established stock ownership guidelines pursuant to which Directors are expected to own stock with a value equal to five times their annual retainer (or $300,000). Directors have until the later of February 28, 2012 or five years from commencement of service as a director to meet the guideline. Shares owned directly, restricted stock, shares underlying vested restricted stock and restricted stock units are included for the purpose of meeting the guideline.

 

	
3

	
The award is granted and priced on the day of the Company’s annual meeting and will vest on the first anniversary of the grant date. Vesting of the award will accelerate upon retirement from the Board subject to approval by the Compensation Committee. Grants will be evidenced by the form of notice and award agreement in effect at the grant date. A pro rata amount for the period remaining until the next annual grant date will be granted to directors joining the Board of Directors following the annual grant date and will be granted and priced at the next regular pricing date.

 

	
4

	
 Paid in cash quarterly in equal installments, in advance, on the first day of the quarter.

 

	
5

	
Paid in cash quarterly in equal installments, in advance, on the first day of the quarter to each member of the Committee, including the Committee Chair. Paid pro rata for directors joining the Committee after the payment date.

 

	
6

	
Meeting fees only paid for meetings in excess of 8 meetings for the Board, Audit and Compensation committees and in excess of 4 meetings for the Governance and Acquisition committees. Fees paid in cash in connection with each additional meeting.

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