Document:

Executive Supplemental Benefit Plan

  
 Exhibit 10(b)

  
  
 First American Financial Corporation 
 Executive Supplemental Benefit Plan

 Amended and Restated Effective as of June 1, 2010 

  
 Contents 

 

							
			
		  	Article 1.  Introduction	  	 	1	  
	1.1	  	Background and History	  	 	1	  
	1.2	  	Purpose of the Plan	  	 	1	  
	1.3	  	Gender and Number	  	 	1	  
			
		  	Article 2.  Definitions	  	 	2	  
	2.1	  	Affiliate	  	 	2	  
	2.2	  	Annuity Starting Date	  	 	2	  
	2.3	  	Basic Plan	  	 	2	  
	2.4	  	Beneficiary	  	 	2	  
	2.5	  	Board of Directors	  	 	3	  
	2.6	  	Change of Control	  	 	3	  
	2.7	  	Code	  	 	3	  
	2.8	  	Committee	  	 	3	  
	2.9	  	Company	  	 	3	  
	2.10	  	Competing Business	  	 	3	  
	2.11	  	Competition	  	 	4	  
	2.12	  	Covered Compensation	  	 	4	  
	2.13	  	Deferred Retirement Date	  	 	4	  
	2.14	  	Disabled	  	 	5	  
	2.15	  	Early Retirement Date	  	 	5	  
	2.16	  	Employee	  	 	5	  
	2.17	  	Employer	  	 	5	  
	2.18	  	ERISA	  	 	5	  
	2.19	  	Executive	  	 	5	  
	2.20	  	Final Average Compensation	  	 	6	  
	2.21	  	Good Cause	  	 	6	  
	2.22	  	Hours of Service	  	 	6	  
	2.23	  	In Pay Status	  	 	7	  
	2.24	  	Incumbent Directors	  	 	7	  
	2.25	  	Joint and Survivor Annuity	  	 	7	  
	2.26	  	Management Plan	  	 	8	  
	2.27	  	Normal Retirement Date	  	 	8	  
	2.28	  	Person	  	 	8	  
	2.29	  	Plan	  	 	8	  
	2.30	  	Pre-Retirement Death Benefit	  	 	8	  

  
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	2.31	  	Retirement Income Benefit	  	 	8	  
	2.32	  	Separation from Service	  	 	9	  
	2.33	  	Specified Employee	  	 	9	  
	2.34	  	Spouse	  	 	10	  
	2.35	  	Surviving Spouse	  	 	10	  
	2.36	  	Years of Credited Service	  	 	10	  
			
		  	Article 3.  Retirement Income Benefits	  	 	11	  
	3.1	  	Eligibility to Participate	  	 	11	  
	3.2	  	Normal Retirement	  	 	11	  
	3.3	  	Early Retirement	  	 	12	  
	3.4	  	Disabled Executive	  	 	12	  
	3.5	  	Six-Month Delay for Specified Employees	  	 	12	  
	3.6	  	Rehired Executive Not In Pay Status	  	 	13	  
	3.7	  	Rehired Executive In Pay Status	  	 	13	  
			
		  	Article 4.  Pre-Retirement Death Benefit	  	 	14	  
			
		  	Article 5.  Vesting of Benefits	  	 	15	  
	5.1	  	General Rule	  	 	15	  
	5.2	  	Change of Control	  	 	15	  
	5.3	  	Forfeiture in the Event of Competition	  	 	15	  
			
		  	Article 6.  Funding of Benefits	  	 	17	  
			
		  	Article 7.  Plan Administration	  	 	19	  
	7.1	  	Committee	  	 	19	  
	7.2	  	Operation of the Committee	  	 	19	  
	7.3	  	Agents	  	 	20	  
	7.4	  	Compensation and Expenses	  	 	20	  
	7.5	  	Committee’s Powers and Duties	  	 	20	  
	7.6	  	Committee’s Decisions Conclusive/Exclusive Benefit	  	 	21	  
	7.7	  	Indemnity	  	 	21	  
	7.8	  	Insurance	  	 	23	  
	7.9	  	Notices	  	 	23	  
	7.10	  	Data	  	 	23	  
	7.11	  	Claims Procedure	  	 	24	  
	7.12	  	Effect of a Mistake	  	 	26	  
			
		  	Article 8.  Amendment and Termination	  	 	27	  
	8.1	  	Amendment and Termination Generally	  	 	27	  
	8.2	  	Amendment and Termination Following a Change of Control	  	 	27	  
			
		  	Article 9.  Miscellaneous	  	 	28	  
	9.1	  	No Enlargement of Employee Rights	  	 	28	  
	9.2	  	Benefit Agreement	  	 	28	  

  
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	9.3	  	Exclusion for Suicide or Self-Inflicted Injury	  	 	28	  
	9.4	  	Leave of Absence	  	 	28	  
	9.5	  	Termination for Good Cause	  	 	28	  
	9.6	  	Monthly Payments	  	 	28	  
	9.7	  	Actuarial Equivalence	  	 	29	  
	9.8	  	Withholding	  	 	29	  
	9.9	  	No Examination or Accounting	  	 	29	  
	9.10	  	Records Conclusive	  	 	29	  
	9.11	  	Section 409A	  	 	29	  
	9.12	  	Service of Legal Process	  	 	29	  
	9.13	  	Governing Law	  	 	29	  
	9.14	  	Severability	  	 	29	  
	9.15	  	Missing Persons	  	 	30	  
	9.16	  	Facility of Payment	  	 	30	  
	9.17	  	General Restrictions Against Alienation	  	 	30	  
	9.18	  	Counterparts	  	 	31	  
	9.19	  	Effect of Amendment on Vested Executives	  	 	31	  
	9.20	  	Assignment	  	 	31	  

  
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 Article 1.  Introduction

  

	1.1	Background and History 

 The First
American Financial Corporation Executive Supplemental Benefit Plan was established by the Board of Directors of The First American Corporation (“FAC”), effective as of July 1, 1985. The Plan was amended and restated, effective
November 1, 2007, to comply with final regulations under Code section 409A. The Plan was again amended and restated, effective as of January 1, 2009, to amend and clarify certain Plan provisions and to clarify compliance with certain
aspects of the final regulations under Code section 409A. 
 On June 1, 2010, FAC transferred sponsorship and administration of the Plan to
the First American Financial Corporation (the “Company”). As a part of this transfer, the Company assumed the liabilities under the portion of the Plan covering the Company’s employees and former employees and FAC remained responsible
for liabilities under the portion of the Plan relating to FAC employees and former FAC employees. 
 The Company is now restating the Plan to
incorporate prior amendments and to reflect that it is the sole sponsor thereof, effective as of June 1, 2010 (“Effective Date”). The provisions of this Plan are intended to govern the benefits payable to a Participant under this Plan
both before and after June 1, 2010. 
 The adoption of this Plan is not intended to grant additional benefits to the Plan Participants
hereof, rather, is intended to be consistent with the historical practice of the Plan. Accordingly, all elections by Company employees and former employees that were in effect under the terms of the Plan immediately prior to June 1, 2010, shall
continue in effect from and after such date until a new election that by its terms supersedes the prior election is made by such Company employee or former employee in accordance with the terms of the Plan and consistent with the provisions of Code
Section 409A to the extent applicable. As a result thereof, nothing herein is intended to constitute a “material modification” (within the meaning of Code Section 409A) of the Plan. 

 

	1.2	Purpose of the Plan 

 The Plan is
designed to provide supplemental retirement income and death benefits for certain Executives. 
  

	1.3	Gender and Number 

 Except as otherwise
indicated by the context, any masculine or feminine terminology shall also include the opposite gender, and the definition of any term in the singular or plural shall also include the opposite number. 

  
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 Article 2.  Definitions

 The following definitions, set forth in alphabetical order, are used throughout the Plan and have the meaning set forth below.

  

	2.1	Affiliate 

 “Affiliate” means

  

	(a)	Any entity or organization that, together with the Company, is part of a controlled group of corporations, within the meaning of Code section 414(b);

  

	(b)	Any trade or business that, together with the Company, is under common control, within the meaning of Code section 414(c); and 

 

	(c)	Any entity or organization that is required to be aggregated with the Company, pursuant to Code sections 414(m) or 414(o). 

For purposes of this Plan, however, the term “Affiliate” shall be interpreted such that the phrase “at least 50 percent” will be
substituted for the phrase “at least 80 percent” in each place that it appears in Code section 1563. Additionally, an entity shall be an Affiliate only during the period when the entity has the required relationship, under this Plan
section 2.1, with the Company. 
  

	2.2	Annuity Starting Date 

 “Annuity
Starting Date” means the first day of the first period for which an amount is paid as an annuity. 
  

	2.3	Basic Plan 

 “Basic Plan” means
the First American Financial Corporation Pension Plan, a defined benefit pension plan qualified under Code section 401(a), as amended from time to time. 
  

	2.4	Beneficiary 

 “Beneficiary”
means the person, persons or entity designated in writing by the Executive on forms provided by the Company to receive the Pre-Retirement Death Benefit set forth under Article 4 of the Plan in the event of the Executive’s death. An Executive
may change the designated Beneficiary from time to time by filing a new written designation with the Company, and such designation shall be effective upon receipt by the Company, provided that the Company has determined that such change in
Beneficiary will not result in an “impermissible acceleration” under Code section 409A. If the Company determines that such change in Beneficiary will result in an “impermissible acceleration,” such intended change will be null
and void and the Beneficiary on file prior to such intended change (if any) shall remain the Beneficiary. If an Executive has not designated a Beneficiary, or if a designated Beneficiary is not living or in existence at the time of the
Executive’s death, the Pre-Retirement Death Benefit payable under the Plan shall be paid to the Executive’s Spouse, if then living, and if the Executive’s Spouse is not then living, to the Executive’s estate. 

  
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	2.5	Board of Directors 

 “Board of
Directors” means the Board of Directors of the Company. 
  

	2.6	Change of Control 

 “Change of
Control” means the occurrence of any of the following: 
  

	(a)	The acquisition by any person, entity or “group” (as defined in section 13(d)(3) of the Securities Exchange Act of 1934, as amended (“Exchange
Act”)) as beneficial owner, directly or indirectly, of securities of the Company representing 25% or more of the combined voting power of the then outstanding securities of the Company; 

 

	(b)	A change in the composition of the Board of Directors occurring within a two-year period, as a result of which fewer than a majority of the directors are Incumbent
Directors; or 

  

	(c)	Any other event constituting a change in control required to be reported in response to item 6(e) of Schedule 14A of Regulation 14A under the Exchange Act.

 Notwithstanding the foregoing, a Change of Control shall not be deemed to have occurred by reason of the acquisition of Company
securities by the Company, any entity controlled by the Company or any plan sponsored by the Company which is qualified under Code section 401(a) or by reason of the acquisition of Company securities (either directly or indirectly as a result of a
merger, consolidation or otherwise) in a transaction approved by the Incumbent Directors. 
  

	2.7	Code 

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

	2.8	Committee 

 “Committee” means
the Compensation Committee appointed by the Board of Directors, or any other committee appointed by the Board of Directors to administer this Plan in accordance with Article 7 of the Plan. 

 

	2.9	Company 

 “Company” means the
First American Financial Corporation. 
  

	2.10	Competing Business 

 “Competing
Business” means any individual (including the Executive), person, sole proprietorship, joint venture, partnership, corporation, limited liability company, business entity, trust or other entity that competes with, or will compete with, the
Company or an Affiliate in any locality worldwide. A Competing Business includes, without limitation, any start-up or other entity in formation. 

  
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	2.11	Competition 

 “Competition”
means any of the following, whether occurring during or after the end of the Executive’s employment with the Employer: 
  

	(a)	The Executive’s Involvement (as defined in Article 5) in or with a Competing Business; 

 

	(b)	The misappropriation, sale, transfer, use or disclosure of trade secrets, or confidential or proprietary information of the Company or an Affiliate;

  

	(c)	Any action or attempt by the Executive, directly or indirectly, either for himself or for any other person or entity, to recruit or solicit for hire any employee,
officer, director, consultant, independent contractor or other personnel of the Company or an Affiliate, or to induce or encourage such a person or entity to terminate his, her or its relationship, or breach an agreement, with the Company or an
Affiliate; or 

  

	(d)	Any action or attempt by the Executive, directly or indirectly, either for himself or for any other person or entity, to solicit or induce any customer or potential
customer of the Company or an Affiliate to cease or not commence doing business, in whole or in part, with or through the Company or an Affiliate, or to do business with any other person, firm, partnership, corporation or any Competing Business.

  

	2.12	Covered Compensation 

 “Covered
Compensation” means base salary, cash bonus, sales commissions, similar commission-based remuneration and equity-based compensation explicitly designated as Covered Compensation or explicitly designated as compensation for past performance.
“Covered Compensation” excludes any other form of remuneration, including, but not limited to, equity compensation awarded to incentivize future performance, relocation expenses and bonuses, earn-outs and other acquisition-related
consideration, car allowances and perquisites. Except as otherwise provided by the Committee, “Covered Compensation” also excludes any payments made in connection with a Separation from Service, including, but not limited to, any bonus
paid to an Executive in connection with his Separation from Service during a calendar year in which such Executive has already received a performance bonus. If an Executive dies or becomes Disabled, his Covered Compensation for that calendar year
shall be defined as the Covered Compensation received through the date of death or disability, respectively, and no compensation received thereafter shall be considered Covered Compensation. Covered Compensation shall for all purposes be deemed paid
in the year in which it is actually paid. 
  

	2.13	Deferred Retirement Date 

 “Deferred
Retirement Date” means the date on which an Executive who is actively employed by the Company or an Affiliate incurs a Separation from Service following attainment of his Normal Retirement Date. 

  
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	2.14	Disabled 

 “Disabled” means an
Executive who is, in the determination of the Committee, unable to perform substantially all of the material duties of one’s regular position because of a bodily injury sustained or disease originating after the date of such person’s
designation as an Executive under this Plan. Notwithstanding the foregoing: 
  

	(a)	After an Executive has been Disabled as defined above for a period of 24 continuous months, the Executive will cease to be considered Disabled unless he is unable to
perform any occupation for which he is reasonably fitted by education, training or experience because of such bodily injury or sickness; and 

  

	(b)	An Executive is not Disabled at any time that he is working for pay or profit at any occupation. 

 

	2.15	Early Retirement Date 

 “Early
Retirement Date” means the later of an Executive’s 
  

	(a)	 55th birthday; 

  

	(b)	Completion of 10 Years of Credited Service; and 

  

	(c)	Completion of 5 years as an Executive under the Plan and/or the Management Plan (which requirement may be waived unilaterally only by the Board of Directors or the
Committee). 

  

	2.16	Employee 

 “Employee” means any
person who is employed by the Company or Affiliate and who is classified as a common-law Employee in the employment records of the Company or an Affiliate (other than a leased employee within the meaning of Code section 414(n)(2)). 

 

	2.17	Employer 

 “Employer” means the
Company and any Affiliate. 
  

	2.18	ERISA 

 “ERISA” means the
Employee Retirement Income Security Act of 1974, as amended. 
  

	2.19	Executive 

 “Executive” means a
key management or key highly compensated employee of the Employer who has been specifically designated by the Board of Directors or the Committee, or the designee of either, as eligible to participate in this Plan, as evidenced by execution by the
Executive of the benefit agreement contemplated by Plan section 9.2. 

  
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	2.20	Final Average Compensation 

 “Final
Average Compensation” means the Executive’s average one-year Covered Compensation for the five-year period ending on December 31 of the calendar year immediately preceding the calendar year in which the Executive has a Separation from
Service. 
  

	2.21	Good Cause 

 “Good Cause”
means, with respect to an Employee’s Separation from Service with his Employer, a termination for: 
  

	(a)	Employee’s breach of any fiduciary duty to Employer; 

  

	(b)	Employee’s failure or refusal to comply with laws or regulations applicable to Employer and its business or the policies of Employer governing the conduct of its
employees; 

  

	(c)	Employee’s gross incompetence in the performance of Employee’s job duties; 

 

	(d)	Commission by Employee of any criminal or fraudulent acts against Employer; 

 

	(e)	The failure of Employee to perform duties consistent with a commercially reasonable standard of care; 

 

	(f)	Employee’s failure or refusal to perform Employee’s job duties; or 

 

	(g)	Any gross or willful conduct of Employee resulting in loss to Employer or any other Affiliate of the Company, or damage to the reputation of Employer or any other
Affiliate of the Company. 

  

	2.22	Hours of Service 

 “Hours of
Service” means: 
  

	(a)	Each hour for which an Executive is paid or entitled to payment by the Company or an Affiliate for the performance of duties. 

 

	(b)	Each hour for which an Executive is paid or entitled to payment by the Company or an Affiliate on account of a period of time during which no duties are performed
(irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including disability) layoff, jury duty, or leave of absence. 

 

	(c)	Each hour for which back pay (irrespective of mitigation of damages) for an Executive is either awarded or agreed to by the Company or an Affiliate, with no duplication
of credit for hours under subsections (a) or (b) and this subsection. 

  

	(d)	 Each hour credited pursuant to applicable ERISA regulations for unpaid periods of absence for service in the United States armed forces or Public
Health Service during which an Executive’s reemployment rights are guaranteed by law, provided that the 

  
 6 

	 	 
Executive is reemployed by the Company or an Affiliate within the time limits prescribed by such law. 

 Notwithstanding the foregoing, no more than 501 Hours of Service shall be credited to an Executive on account of any single continuous period during which the Executive performs no duties. 

To the extent a record of an Executive’s hours of employment is not maintained by the Company or an Affiliate, the Executive shall be credited with
10 Hours of Service for each day for which the Executive would be required to be credited with at least one Hour of Service. 
 All Hours of
Service shall be determined and credited to computation periods in accordance with reasonable standards and policies consistent with United States Department of Labor Regulations sections 2530.200b-2(b) and (c). 

Notwithstanding anything herein to the contrary, each Hour of Service credited to an Executive under any previous version of the Plan, shall be credited
to the Executive under this Plan. 
  

	2.23	In Pay Status 

 “In Pay Status”
means, with respect to a benefit, that an Executive or Beneficiary has met all of the requirements to receive such benefit, and it is being paid or is about to be paid to such Executive or Beneficiary. No benefit can be paid under this Plan unless
the Executive has incurred a Separation from Service. 
  

	2.24	Incumbent Directors 

 “Incumbent
Directors” means directors who either are: 
  

	(a)	Directors of the Company as of November 1, 2007; or 

  

	(b)	Elected, or nominated for election, to the Board of Directors with the affirmative votes of at least two-thirds 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.

  

	2.25	Joint and Survivor Annuity 

 “Joint
and Survivor Annuity” means an annuity that provides equal monthly payments for the life of the Executive and, after his death, a reduced annuity (“survivor annuity”) for the life of the Executive’s Surviving Spouse, if any. The
monthly payment under the survivor annuity to a Surviving Spouse shall be equal to 50% of the amount of the monthly payment made to the Executive during their joint lives if the Surviving Spouse is not more than five years younger, or is older, than
the Executive at the time benefits begin. If the Surviving Spouse is more than five years younger than the Executive, the survivor annuity will be determined with reference to the actual age of the Surviving Spouse at the time benefits begin and
will be reduced to produce the 

  
 7 

 
actuarial equivalent of a 50% survivor annuity for a Surviving Spouse who is five years younger than the Executive. 
 If the Executive is not married at the time that Plan benefits commence, the Joint and Survivor Annuity means an annuity providing equal monthly payments for the lifetime of the Executive with no survivor
benefits. 
  

	2.26	Management Plan 

 “Management
Plan” means The First American Management Supplemental Benefit Plan. 
  

	2.27	Normal Retirement Date 

 “Normal
Retirement Date” means the last day of the month coinciding with or next following the later of an Executive’s: 
  

	(a)	 62nd birthday; 

  

	(b)	Completion of 10 Years of Credited Service (which requirement may be waived unilaterally only by the Board of Directors or the Committee); or 

 

	(c)	Completion of 5 years as an Executive under the Plan and/or the Management Plan (which requirement may be waived unilaterally only by the Board of Directors or the
Committee). 

  

	2.28	Person 

 “Person” means any
individual, partnership, joint venture, association, joint company, corporation, trust, limited liability company, unincorporated organization, a group, a government or other department, agency or political subdivision thereof or any other person or
entity as contemplated by the Exchange Act. 
  

	2.29	Plan 

 “Plan” means the First
American Financial Corporation Executive Supplemental Benefit Plan. The Plan was originally named The First American Financial Corporation Executive Supplemental Benefit Plan and took its current name effective as of May 12, 2000, to reflect
the change in the name of the Company. 
  

	2.30	Pre-Retirement Death Benefit 

“Pre-Retirement Death Benefit” means the benefit payable, as set forth in Article 4, to the Beneficiary of an Executive who dies prior to the
commencement of his Retirement Income Benefit. 
  

	2.31	Retirement Income Benefit 

 “Retirement Income Benefit” means  1/12 of the benefit described in Article 3 payable as a monthly annuity. 

  
 8 

  

	2.32	Separation from Service 

“Separation from Service” means the date on which an Executive who ceases to be an Employee or otherwise separates from the service of the
Company or an Affiliate on account of the Executive’s retirement, death or other termination of employment. Whether or not an Executive has incurred a Separation from Service will be based on all surrounding relevant circumstances, including,
but not limited to, the reasonable belief of both the Executive and the Company (or Affiliate) that the Executive will perform no future services for the Company or an Affiliate whether as an Employee, as a contractor or in any other capacity. For
purposes of this defined term, no Separation from Service will be deemed to have occurred if the Executive transfers employment from the Company or an Affiliate to another member of the Company’s Code section 414 controlled group. For this
purpose, controlled group membership will include the Company and all Affiliates. 
 Notwithstanding the foregoing, the Plan will treat an
anticipated permanent reduction in the level of bona fide services provided by the Executive to the Company or an Affiliate as a Separation from Service provided that it is reasonable for the Company or the Affiliate to anticipate that the
Executive’s reduced level of bona fide services will not exceed 49 percent of the average level of bona fide services provided by such Executive within the immediately preceding applicable 36 months within the meaning of Treasury Regulations
section 1.409A-1(h)(1)(ii). 
 The commencement of the Retirement Income Benefit, described in Article 3 and subject to the
six-month payment delay set forth at Plan section 3.5, will be deemed to be on account of the Executive’s Separation from Service provided that the Retirement Income Benefit commences no later than the end of the calendar year in which the
Separation from Service occurs or, if later, within 2 1/2 months following such Separation from Service provided that the Executive cannot designate the taxable period in which such Retirement Income Benefit shall commence. 

 

	2.33	Specified Employee 

 “Specified
Employee” means an Executive qualifying as a “key employee” for purposes of Code section 416 (determined without regard to Code section 416(i)(5)) by satisfying any one of the following conditions at any time during the 12-month
period ending on each December 31 (“Identification Date”): 
  

	(a)	The Executive is among the top-paid 50 officers of the Company with annual compensation (within the meaning of Code section 415(c)(3)) in excess of $145,000 (subject to
cost-of-living adjustments); 

  

	(b)	The Executive is a five-percent owner; or 

  

	(c)	The Executive is a one-percent owner and has annual compensation in excess of $150,000. 

 If an individual is a key employee as of an Identification Date, including an individual who acknowledges his Specified Employee status to the Company immediately prior to the date his Retirement Income
Benefit commences, the individual shall be treated as a Specified Employee for the 12-month period beginning on April 1 following the Identification Date. For the limited 

  
 9 

 
purpose of applying the “one-percent” and “five-percent” ownership rules, ownership is determined with respect to the entity for which the Employee provides services. The
Code’s controlled and affiliated service group rules do not apply when determining an Executive’s ownership interests. Notwithstanding the foregoing, an individual shall not be treated as a Specified Employee unless any stock of the
Company or any Affiliate is publicly traded on an established securities market or otherwise. 
 For purposes of making its annual Specified
Employee determination, the Company shall consider compensation treated as recognizable pay under the definition of pay commonly referred to as “general Code section 415 pay.” 
 Notwithstanding the above, the Company may (but is not required to) adopt an alternative method for identifying Specified Employees, provided such method satisfies the requirements set forth at Treasury
Regulations section 1.409A-1(i)(5). 
  

	2.34	Spouse 

 “Spouse” means with
respect to an Executive, a person of the opposite sex from the Executive, who is the Executive’s husband or wife (as applicable) under applicable state law to whom the Executive has been legally married during the 12-month period immediately
preceding the Executive’s date of death, if such death is earlier than the Executive’s Early, Normal or Deferred Retirement Date, or the person to whom the Executive is married as of his Annuity Starting Date. No individual, including an
individual of the opposite sex, shall be the Spouse of an Executive on account of the fact that the individual is registered as the domestic partner of the Executive under state law, even if state law provides that the domestic partners shall have
the same rights, protections, and benefits, under state law, as married persons. No individual shall be the Spouse of an Executive unless the person would be treated as the “Spouse” of the Executive under 1 USC section 7 (relating to the
definition of a “Spouse” for purposes of federal law, as added by the Defense of Marriage Act). 
  

	2.35	Surviving Spouse 

 “Surviving
Spouse” means the Spouse of a deceased Executive who was the Spouse to whom the Executive was married at the time that Plan benefits commenced and who is living at the time of the Executive’s death after benefit commencement. 

 

	2.36	Years of Credited Service 

 “Year of
Credited Service” means years of benefit service as defined in Article 3 of the Basic Plan, but without regard to the Basic Plan’s freezing of Benefit Service as of April 30, 2008. In making this determination, however, the provisions
of Plan section 9.4 relating to leaves of absence shall control over any contrary provisions in the Basic Plan. 

  
 10 

  
 Article 3.  Retirement
Income Benefits 
  

	3.1	Eligibility to Participate 

 Subject to
Plan section 5.2, each Executive who either: 
  

	(a)	Reaches his Normal Retirement Date while an Executive employed by an Employer and retires on or after such date; or 

 

	(b)	Retires on or after his Early Retirement Date but prior to reaching Normal Retirement Date, 

 shall be eligible to receive a Retirement Income Benefit under this Plan upon the Executive’s Separation from Service. 

 

	(c)	Notwithstanding anything in the Plan to the contrary, if the Board of Directors or its designee so authorizes, an Executive may be employed as a dual employee of the
Company and FAC. In such event, such Executive shall only be eligible to receive a Retirement Income Benefit under this Plan upon such Executive’s Separation from Service. 

 In the event of such authorized dual employment, upon such Executive’s Separation from Service, to the extent that such Executive’s Final Average Compensation covers the period of dual
employment in question, such Executive’s benefit shall include only that Covered Compensation attributable to service performed for that Employer. Furthermore, only one-half of Covered Compensation attributable to periods of service with the
Company prior to the Effective Date shall be treated as Covered Compensation for purposes of the Plan. For the avoidance of doubt, Covered Compensation allocable to periods prior to FAC’s spin-off of its financial services businesses,
consisting primarily of its title insurance and specialty insurance reporting segments, to FinCo, shall be allocated equally between this Plan and to a plan substantially similar to the Plan sponsored by FAC. 

 

	3.2	Normal Retirement 

 Subject to Plan
section 3.5 and to the Executive’s execution of (1) a separation agreement within sixty (60) days following his Separation from Service and (2) annual written certification within thirty (30) days following the end of each
year that he is not in Competition with the Company or any Affiliate, each in the form prescribed by the Committee or its designee, an Executive who incurs a Separation from Service (subject to Article 4 if such Separation from Service is as a
result of a death) on or after his Normal Retirement Date shall be entitled to a Retirement Income Benefit equal to 30% of his Final Average Compensation and payable in the form of a Joint and Survivor Annuity commencing on the last day of the month
following the month in which the Executive’s Separation from Service occurs. 
 Notwithstanding the foregoing, an Executive’s
Retirement Income Benefit shall be reduced by the amount of any payments that are required to be made to a Spouse, former Spouse, child, or other dependant pursuant to: 

  
 11 

  

	(a)	A valid state domestic relations order that is a judgment, decree, or order under state community property or domestic relations law and that relates to the provision
of child support, alimony, or marital property rights of an Executive’s Spouse, child or other dependent; or 

  

	(b)	In the event of a divorce and after the divorce decree has been issued, a property settlement signed by the Executive, the Executive’s former Spouse, and any other
individual named within the agreement to receive Plan funds. 

  

	3.3	Early Retirement 

 Subject to Plan
section 3.5 and to the Executive’s execution of (1) a separation agreement within sixty (60) days following his Separation from Service and (2) annual written certification within thirty (30) days following the end of each
year that he is not in Competition with the Company, or any Affiliate, each in the form prescribed by the Committee or its designee, an Executive who incurs a Separation from Service prior to his Normal Retirement Date, but after reaching his Early
Retirement Date, shall be entitled to a Retirement Income Benefit payable in the form of a Joint and Survivor Annuity commencing on the last day of the month following the month in which the Executive’s Separation from Service occurs equal to:

  

	(a)	The Retirement Income Benefit that the Executive would have received under Plan section 3.2 above had his date of Separation from Service been on or after the
Executive’s Normal Retirement Date; 

  

	(b)	Reduced by the product of 5.952% and the number of years (rounded up) by which the Executive’s Separation from Service precedes his Normal Retirement Date.

  

	3.4	Disabled Executive 

 A Disabled Executive
shall be deemed to be an Executive during the period of his Disability and shall continue to be eligible for early retirement benefits under Plan section 3.3, normal retirement benefits under Plan section 3.2 and a Pre-Retirement Death Benefit under
Article 4, and shall be credited with Years of Credited Service for such period regardless of the nonperformance of services for the Company or an Affiliate. A Disabled Executive’s benefit payments, if any, under this Plan will commence to a
vested Executive only upon his Separation from Service. For avoidance of doubt, if an Executive is receiving benefits that are affected in any manner as a result of being a Disabled Executive, then the period used to calculate such Executive’s
“Final Average Compensation” means the Executive’s average one-year Covered Compensation for the five-year period ending on December 31 of the calendar year immediately preceding the calendar year in which the Executive has a
Separation from Service and shall not include any year during which the Executive is Disabled or is otherwise being credited with Years of Credited Service while not serving as an employee of an Employer. 

 

	3.5	Six-Month Delay for Specified Employees 

If an Executive is determined by the Committee to be a Specified Employee, payment of the Executive’s Retirement Income Benefit will not commence
prior to the last day of the month following the six-month anniversary of the Executive’s Separation from Service. Additionally, 

  
 12 

 
an Executive must notify the Company to affirm whether or not he is a Specified Employee by virtue of the one-percent and five-percent ownership thresholds set forth at Treasury Regulations
section 1.409A-1(i) and the Company will not be responsible for any consequences to the Executive as a result of Executive’s failure to so notify the Company. If an Executive’s normal, early or deferred Retirement Income Benefit is subject
to this six-month delay, the Executive will be entitled to receive a one-time lump sum payment equal to the annuity payments delayed by the above six-month delay. The above six-month delay will not apply for determining when survivor benefits to a
Beneficiary may commence in the event of an Executive’s death. 
  

	3.6	Rehired Executive Not In Pay Status 

 An
Executive who has a Separation from Service before he is In Pay Status and subsequently is re-employed by the Company or an Affiliate shall not resume his status as an Executive unless approved by the Committee. 

 

	3.7	Rehired Executive In Pay Status 

 An
Executive who is In Pay Status following a Separation from Service and is subsequently re-employed by the Company or an Affiliate shall remain In Pay Status. 

  
 13 

  
 Article
4.  Pre-Retirement Death Benefit 
 The Beneficiary of an Executive who dies: 

 

	(a)	While an Executive, or 

  

	(b)	After Separation from Service with a vested Retirement Income Benefit, but prior to commencement of payment of his Retirement Income Benefit, 

shall be entitled to receive a Pre-Retirement Death Benefit consisting of 10 annual amounts, each equal to 50% of the
Executive’s Final Average Compensation, commencing as soon as practicable after the Executive’s death, including following the death of an Executive who is also a Specified Employee. Commencement of the Beneficiary’s Pre-Retirement
Death Benefit will begin in the same calendar year as the Executive’s death, or, to the extent distribution in the same calendar year is not administratively practicable, then in no event more than 2 1/2 months into the next successive calendar year. 

  
 14 

  
 Article 5.  Vesting of
Benefits 
  

	5.1	General Rule 

 An Executive will be 100%
vested in his Retirement Income Benefit if he is an Executive on or after attaining his Early Retirement Date or Normal Retirement Date and will be 100% vested in his Pre-Retirement Death Benefit if he dies while an Executive. 

 

	5.2	Change of Control 

  

	(a)	All Executives shall be 100% vested in all of their Plan benefits upon a Change of Control. Such benefits shall be determined in accordance with the provisions of the
Plan as in effect on the date of the Change of Control, regardless of subsequent amendments to or a complete termination of the Plan. 

  

	(b)	Notwithstanding any other provision of the Plan and subject to Plan section 3.5, an Executive who incurs a Separation from Service after a Change of Control shall be
entitled to a Retirement Income Benefit in the form of a Joint and Survivor Annuity commencing on the last day of the month following such Separation from Service equal to the Retirement Income Benefit that the Executive would have been entitled to
receive under Plan section 3.2 as if he had attained his Normal Retirement Date on the date of the Executive’s Separation from Service. 

  

	5.3	Forfeiture in the Event of Competition 

  

	(a)	In the event an Executive who has not attained his Early Retirement Date prior to September 1, 2005, engages in Competition (as defined below) with the Company or
an Affiliate on or after September 1, 2005, such Executive and his Beneficiary shall forfeit all right, title and interest in and to any benefits payable under the Plan. 

 

	(b)	In the event an Executive who has attained his Early Retirement Date but has not attained his Normal Retirement Date prior to September 1, 2005, engages in
Competition with the Company or an Affiliate on or after September 1, 2005, such Executive and his Beneficiary shall not be entitled to receive the Retirement Income Benefit described in Plan section 3.2 or the Pre-Retirement Death Benefit
described in Article 4 and shall not accrue any additional benefits pursuant to the terms of the Plan on or after September 1, 2005, and shall only be entitled to those benefits that the Executive would have been entitled to had he incurred a
Separation from Service on September 1, 2005. 

  

	(c)	 “Involvement” means the Executive’s relationship with, or provision of services to or for, a Competing Business in any manner
whatsoever, directly or indirectly, including, without limitation, as a shareholder, member, partner, director, officer, manager, investor, organizer, founder, employee, consultant, advisor, independent contractor, owner, trustee, beneficiary,
co-venturer, lender, distributor or agent, or in any other capacity. The ownership of less than a 2% equity or debt interest in a corporation whose equity securities are publicly traded in a recognized stock exchange or traded in the
over-the-

  
 15 

	 	 
counter market shall not be deemed Involvement with a Competing Business under this Plan, even though the corporation may be a competitor of the Company or an Affiliate.

  

	(d)	Nothing in this Plan section 5.3 restrains an Executive in any way from engaging in any lawful profession, trade or business of any kind. Rather, this Plan section 5.3
provides for a forfeiture of certain benefits in the event of Competition with the Company or an Affiliate. 

  
 16 

  
 Article 6.  Funding of
Benefits 
 The Plan shall be unfunded. All benefits payable under the Plan shall be paid from the Company’s general assets, and
nothing contained in the Plan shall require the Company to set aside or hold in trust any funds for the benefit of an Executive or his Beneficiary, who shall have the status of a general unsecured creditor with respect to the Company’s
obligation to make payments under the Plan. Any funds of the Company available to pay benefits under the Plan shall be subject to the claims of general creditors of the Company and may be used for any purpose by the Company. 

Notwithstanding anything herein to the contrary, if the Board of Directors or its designee so authorizes, an Affiliate of the Company may be designated
as a “Participating Company” (as defined below). Such Participating Company and its Subsidiaries shall be treated under the Plan in the same manner as an Affiliate of the Company; provided, however, that all benefits payable under the Plan
to Employees of such Participating Company and its Subsidiaries shall be paid from the general assets of that Participating Company, rather than from the general assets of the Company, unless the Committee or its designee determines in its sole
discretion that the Company shall pay such benefits. 
 As an express condition of its of adoption of the Plan, each Participating Company
agrees to each of the following conditions: 
  

	(a)	The Participating Company is bound by the terms and conditions of the Plan as the Company or the Committee may reasonably require; 

 

	(b)	The Participating Company must comply with all requirements and employee benefit rules of the Code, ERISA and applicable regulations for nonqualified retirement plans;

  

	(c)	The Participating Company acknowledges the authority of the Company and the Committee to review the Participating Company’s compliance with the Plan procedures and
to require changes in such procedures as the Company and the Committee may reasonably deem appropriate; 

  

	(d)	The Participating Company authorizes the Company and the Committee to act on its behalf with respect to matters pertaining to the Plan, including making any and all
Plan amendments; 

  

	(e)	The Participating Company will cooperate fully with Plan officials and agents by providing information and taking actions as directed by the Committee or the Company so
as to allow for the efficient administration of the Plan; and 

  

	(f)	The Participating Company’s status as a Participating Company is expressly conditioned on its being and continuing to be an Affiliate of the Company.

 For purposes of the Plan, “Participating Company” shall mean an Affiliate whose governing body, with the approval of
the Board of Directors or its designee, adopts the Plan for certain of its employees.” 

  
 17 

  
 In addition, for purposes of the Plan,
“Subsidiary” shall mean, with respect to a Participating Company: 
 Any entity or organization that, together with the Participating
Company, is part of a controlled group of corporations, within the meaning of Code sections 414(b) and 1563(a)(1); provided, however, that for purposes of this definition, the term “Subsidiary” shall be interpreted such that the phrase
“at least 50 percent” will be substituted for the phrase “at least 80 percent” in each place that it appears in Code section 1563. Additionally, an entity shall be a Subsidiary only during the period when the entity has the
required relationship, as described herein, with the Participating Company. 

  
 18 

  
 Article 7.  Plan
Administration 
  

	7.1	Committee 

  

	(a)	Except as otherwise provided in the Plan, the Committee shall be the administrator of the Plan, within the meaning of ERISA section 3(16)(A). The Committee shall
generally administer the Plan. 

  

	(b)	The Committee may be composed of as many members as the Board of Directors may appoint in writing from time to time. The Board of Directors may also delegate to another
person the power to appoint and remove members of the Committee. 

  

	(c)	The Company by action of an officer or the Chairperson of the Committee, or if there is no Chairperson, then by unanimous consent of the members of the Committee, may
appoint Committee members from time to time. Members of the Committee may, but need not, be Employees. 

  

	(d)	A member of the Committee may resign by delivering his written resignation to the Committee. The resignation shall be effective as of the date it is received by the
Committee or such other later date as is specified in the resignation notice. A Committee member may be removed at any time and for any reason by the Company by action of any of its officers, the Chairman of the Committee, or by unanimous consent of
the remaining members of the Committee. Any Employee appointed to the Committee shall automatically cease to be a member of the Committee, effective on the date that he ceases to be an Employee, unless the Chairman of the Committee, an officer of
the Company, or all of the Committee members unanimously specify otherwise in writing. 

  

	7.2	Operation of the Committee 

  

	(a)	A majority of the members of the Committee at the time in office shall constitute a quorum for the transaction of business. All resolutions adopted and other actions
taken by the Committee at any meeting shall be by the vote of a majority of those present at any such meeting. Upon the concurrence of all of the members in office at the time, action by the Committee may be taken otherwise than at a meeting.

  

	(b)	The members of the Committee may elect one of their members as Chair and may elect a Secretary who may, but need not, be a member of the Committee.

  

	(c)	The members of the Committee may authorize one or more of their members or any agent to execute or deliver any instrument or instruments on their behalf. The members of
the Committee may allocate any of the Committee’s powers and duties among individual members of the Committee. 

  

	(d)	The Committee may appoint one or more subcommittees and delegate any of its discretionary authority and such of its powers and duties, as it deems desirable to any such
subcommittee. The members of any such subcommittee shall consist of such persons as the Committee may appoint. 

  
 19 

  

	(e)	All resolutions, proceedings, acts, and determinations of the Committee, with respect to the administration of the Plan, shall be recorded; and all such records,
together with such documents and instruments as may be necessary for the administration of the Plan, shall be preserved by the Committee. 

  

	(f)	Subject to the limitations contained in the Plan, the Committee shall be empowered from time to time in its discretion to establish rules for the exercise of the duties
imposed upon the Committee under the Plan. 

  

	7.3	Agents 

  

	(a)	The Board of Directors, the Company, or the Committee may delegate such of its powers and duties as it deems desirable to any person, in which case every reference
herein made to the Board of Directors, Company, or the Committee (as applicable) shall be deemed to mean or include the delegated persons as to matters within their jurisdiction. 

 

	(b)	The Board of Directors, the Company, or the Committee may also appoint one or more persons or agents to aid it in carrying out its duties and delegate such of its
powers and duties as it deems desirable to such persons or agents. 

  

	(c)	The Board of Directors, the Company, or the Committee may employ such counsel, auditors, and other specialists and such clerical and other services as it may require in
carrying out the provisions of the Plan, with the expenses therefore paid, as provided in Plan section 7.4. 

  

	7.4	Compensation and Expenses 

  

	(a)	A member of the Committee shall serve without compensation for services as a member. Any member of the Committee may receive reimbursement of expenses properly and
actually incurred in connection with his services as a member of the Committee, as provided in this Article 7. 

  

	(b)	All expenses of administering the Plan shall be paid by the Company. 

  

	7.5	Committee’s Powers and Duties 

Except as otherwise provided in this Plan, the Company shall have responsibility for any settlor duties, powers or functions (e.g., the right to
amend and terminate the Plan) and except as otherwise provided in the Plan, the Committee shall have responsibility for the general administration of the Plan and for carrying out its provisions. The Committee shall have such powers and duties as
may be necessary to discharge its functions hereunder, including the following: 
  

	(a)	To establish rules, policies, and procedures for administration of the Plan; 

 

	(b)	To construe and interpret the Plan, to decide all questions of eligibility, and to determine the amount, manner, and time of payment of any benefits hereunder;

  
 20 

  

	(c)	To make a determination as to the right of any person to a benefit and the amount thereof; 

 

	(d)	To obtain from the Company such information as shall be necessary for the proper administration of the Plan; 

 

	(e)	To prepare and distribute information explaining the Plan; 

  

	(f)	To keep all records necessary for the operation and administration of the Plan; 

 

	(g)	To prepare and file any reports, descriptions, or forms required by the Code or ERISA; and 

 

	(h)	To designate or employ agents and counsel (who may also be persons employed by the Company) and direct them to exercise the powers of the Committee.

  

	7.6	Committee’s Decisions Conclusive/Exclusive Benefit 

 The Committee shall have the exclusive right and discretionary authority to interpret the terms and provisions of the Plan and to resolve all questions arising thereunder, including the right to resolve
and remedy ambiguities, inconsistencies, or omissions in the Plan, provided, however, that the construction necessary for the Plan to conform to the Code and ERISA shall in all cases control. Benefits under this Plan will be paid only if the
Committee decides in its discretion that the Executive, Surviving Spouse or Beneficiary is entitled to them. The Committee shall endeavor to act in such a way as not to discriminate in favor of any class of Executives or other persons. Any and all
disputes with respect to the Plan that may arise involving Executives will be referred to the Committee, and its decisions shall be final, conclusive, and binding. All findings of fact, interpretations, determinations, and decisions of the Committee
in respect of any matter or question arising under the Plan shall be final, conclusive, and binding upon all persons, including, without limitation, Executives, and any and all other persons having, or claiming to have, any interest in or under the
Plan and shall be given the maximum possible deference allowed by law. 
 The Committee shall administer the Plan for the exclusive benefit of
Executives and their Beneficiaries. 
  

	7.7	Indemnity 

  

	(a)	The Company (including any successor employer, as applicable) shall indemnify and hold harmless each of the following persons (“Indemnified Persons”) under
the terms and conditions of subsection (b). 

  

	 	(1)	The Committee; and 

  

	 	(2)	 Each Employee, former Employee, current and former members of the Committee, or current or former members of the Board of Directors who have, or had,
responsibility (whether by delegation from another person, an allocation of responsibilities under the terms of this Plan document, or otherwise) for a fiduciary duty, a non-fiduciary settlor function (such as deciding whether to

  
 21 

	 	 
approve a plan amendment), or a non-fiduciary administrative task relating to the Plan. 

  

	(b)	The Company shall indemnify and hold harmless each Indemnified Person against any and all claims, losses, damages, and expenses, including reasonable attorneys’
fees and court costs, incurred by that person on account of his good faith actions or failures to act with respect to his responsibilities relating to the Plan. The Company’s indemnification shall include payment of any amounts due under a
settlement of any lawsuit or investigation, but only if the Company agrees to the settlement. 

  

	 	(1)	An Indemnified Person shall be indemnified under this Plan section 7.7 only if he notifies an Appropriate Person (defined below) at the Company of any claim asserted
against or any investigation of the Indemnified Person that relates to the Indemnified Person’s responsibilities with respect to the Plan. 

  

	 	(A)	An “Appropriate Person” is one or more of the following individuals at the Company: 

 

	 	(i)	The Chief Executive Officer, 

  

	 	(ii)	The Chief Financial Officer, or 

  

	 	(iii)	Its General Counsel. 

  

	 	(B)	The notice may be provided orally or in writing. The notice must be provided to the Appropriate Person promptly after the Indemnified Person becomes aware of the claim
or investigation. No indemnification shall be provided under this Plan section 7.7 to the extent that the Company is materially prejudiced by the unreasonable delay of the Indemnified Person in notifying an Appropriate Person of the claim or
investigation. 

  

	 	(2)	An Indemnified Person shall be indemnified under this Plan section 7.7 with respect to attorneys’ fees, court costs, or other litigation expenses or any settlement
of such litigation only if the Indemnified Person agrees to permit the Company to select counsel and to conduct the defense of the lawsuit and agrees not to take any action in the lawsuit that the Company believes would be prejudicial to the
Company’s interests. 

  

	 	(3)	No Indemnified Person, including an Indemnified Person who is a former Employee, shall be indemnified under this Plan section 7.7 unless he makes himself reasonably
available to assist the Company with respect to the matters in issue and agrees to provide whatever documents, testimony, information, materials, or other forms of assistance that the Company shall reasonably request. 

 

	 	(4)	No Indemnified Person shall be indemnified under this Plan section 7.7 with respect to any action or failure to act that is judicially determined to constitute or be
attributable to the gross negligence or willful misconduct of the Indemnified Person. 

  
 22 

  

	 	(5)	Payments of any indemnity under this Plan section 7.7 shall only be made from assets of the Company. The provisions of this Plan section 7.7 shall not preclude or limit
such further indemnities or reimbursement under this Plan as allowable under applicable law, as may be available under insurance purchased by the Company, or as may be provided by the Company under any by-law, agreement or otherwise, provided that
no expense shall be indemnified under this Plan section 7.7 that is otherwise indemnified by the Company, by an insurance contract purchased by the Company, or by this Plan. 

 

	7.8	Insurance 

 The Committee may authorize
the purchase of insurance to cover any liabilities or losses occurring by reason of the act or omission of any Committee member or its designee. To the extent permitted by law, the Committee may purchase insurance covering any member (or its
designee) for any personal liability of such Committee member (or its designee) with respect to any administrative responsibilities under this Plan. Any Committee member (or its designee) may also purchase insurance for his own account covering any
personal liability under this Plan. 
  

	7.9	Notices 

 Each Executive shall be
responsible for furnishing to the Company his current address. The Executive shall also be responsible for notifying the Company of any change in the above information. If an Executive does not provide the above information to the Company, the
Committee may rely on the address of record of the Executive on file with the Company’s personnel office. 
 All notices or other
communications from the Committee to an Executive (who is a current Employee) shall be deemed given and binding upon that person for all purposes of the Plan when delivered by e-mail to the Executive’s individually designated e-mail address at
the Company and all notices or other communications from the Committee to an Executive (who is a former Employee) shall be deemed given and binding upon that person for all purposes of the Plan when delivered to, or when mailed first-class mail,
postage prepaid, and addressed to that person at his address last appearing on the Committee’s records, and the Committee, and the Company shall not be obliged to search for or ascertain his whereabouts. 

All notices or other communications from the Executive required or permitted under this Plan shall be provided to the person specified by the Committee,
using such procedures as are prescribed by the Committee. The Committee may require that the oral notice or communication be provided by telephoning a specific telephone number and, after calling that telephone number, by following a specified
procedure. Any oral notice or oral communication from an Executive that is made in accordance with procedures prescribed by the Committee shall be deemed to have been duly given when all information requested by the person specified by the Committee
is provided to such person, in accordance with the specified procedures. 
  

	7.10	Data 

 All persons entitled to benefits
from the Plan must furnish to the Committee such documents, evidence, or information, as the Committee considers necessary or desirable for the purpose of 

  
 23 

 
administering the Plan, and it shall be a condition of the Plan that each such person must furnish such information and sign such documents as the Committee may require before any benefits become
payable from the Plan. 
  

	7.11	Claims Procedure 

 All decisions made
under the procedure set out in this Plan section 7.11 shall be final, and there shall be no further right of appeal. No lawsuit may be initiated by any person before fully pursuing the procedures set out in this Plan section 7.11, including the
appeal permitted pursuant to subsection (c) below. 
  

	(a)	The right of an Executive or any other person entitled to claim a benefit under the Plan (collectively “Claimants”) to a benefit shall be determined by the
Committee, provided, however, that the Committee may delegate its responsibility to any person. 

  

	 	(1)	The Claimant (or an authorized representative of a Claimant) may file a claim for benefits by written notice to the Committee. The Committee shall establish procedures
for determining whether a person is authorized to represent a Claimant. 

  

	 	(2)	Any claim for benefits under the Plan, pursuant to this Plan section 7.11, shall be filed with the Committee no later than three months after the date of the
Executive’s Separation from Service. The Committee in its sole discretion shall determine whether this limitation period has been exceeded. 

  

	 	(3)	Notwithstanding anything to the contrary in this Plan, the following shall not be a claim for purposes of this Plan section 7.11: 

 

	 	(A)	A request for determination of eligibility, participation, or benefit calculation under the Plan without an accompanying claim for benefits under the Plan. The
determination of eligibility, participation, or benefit calculation under the Plan may be necessary to resolve a claim, in which case such determination shall be made in accordance with the claims procedures set forth in this Plan section 7.11.

  

	 	(B)	Any casual inquiry relating to the Plan, including an inquiry about benefits or the circumstances under which benefits might be paid under the Plan.

  

	 	(C)	A claim that is defective or otherwise fails to follow the procedures of the Plan (e.g., a claim that is addressed to a party other than the Committee or an oral
claim). 

  

	 	(D)	An application or request for benefits under the Plan. 

  

	(b)	 If a claim for benefits is wholly or partially denied, the Committee shall, within a reasonable period of time, but no later than 90 days after receipt
of the claim, notify the Claimant of the denial of benefits. If special circumstances justify extending the period up to an additional 90 days, the Claimant shall be given written notice of this extension

  
 24 

	 	 
within the initial 90-day period, and such notice shall set forth the special circumstances and the date a decision is expected. A notice of denial 

 

	 	(1)	Shall be written in a manner calculated to be understood by the Claimant; and 

 

	 	(2)	Shall contain 

  

	 	(A)	The specific reasons for denial of the claim; 

  

	 	(B)	Specific reference to the Plan provisions on which the denial is based; 

  

	 	(C)	A description of any additional material or information necessary for the Claimant to perfect the claim, along with an explanation as to why such material or
information is necessary; and 

  

	 	(D)	An explanation of the Plan’s claim review procedures and the time limits applicable to such procedures, including a statement of the Claimant’s right to bring
a civil action under ERISA section 502(a) following an adverse determination on review. 

  

	(c)	Within 60 days of the receipt by the Claimant of the written denial of his claim or, if the claim has not been granted, within a reasonable period of time (which shall
not be less than the 90 or 180 days described in subsection (b) above), the Claimant (or an authorized representative of a Claimant) may file a written request with the Committee that it conduct a full review of the denial of the claim. In
connection with the Claimant’s appeal, upon request, the Claimant may review and obtain copies of all documents, records and other information relevant to the Claimant’s claim for benefits (but not including any document, record or
information that is subject to any attorney–client or work–product privilege) and may submit issues and comments in writing. The Claimant may submit written comments, documents, records, and other information relating to the claim for
benefits. All comments, documents, records, and other information submitted by the Claimant shall be taken into account in the appeal without regard to whether such information was submitted or considered in the initial benefit determination.

  

	(d)	The Committee shall deliver to the Claimant a written decision on the claim promptly, but no later than 60 days after the receipt of the Claimant’s request for
such review, unless special circumstances exist that justify extending this period up to an additional 60 days. If the period is extended, the Claimant shall be given written notice of this extension during the initial 60-day period and such notice
shall set forth the special circumstances and the date a decision is expected. The decision on review of the denial of the claim 

  

	 	(1)	Shall be written in a manner calculated to be understood by the Claimant; 

 

	 	(2)	Shall include specific reasons for the decision; 

  

	 	(3)	Shall contain specific references to the Plan provisions on which the decision is based; 

  
 25 

  

	 	(4)	Shall contain a statement that the Claimant is entitled to receive, upon request and free of charge, reasonable access to, and other information relevant to the
Claimant’s claim for benefits. Whether a document, record, or other information is relevant to a claim for benefits shall be determined by reference to U.S. Department of Labor Regulations section 2560; and 

 

	 	(5)	Shall contain a statement of the Claimant’s right to bring a civil action under ERISA section 502(a) following an adverse determination on review.

  

	(e)	No lawsuit may be initiated by any person before fully pursuing the procedures set out in this Plan section 7.11, including the appeal permitted pursuant to subsection
(c) above. In addition, no legal action may be commenced later than 365 days subsequent to the date of the written response of the Committee to a Claimant’s request for review pursuant to subsection (d) above.

  

	7.12	Effect of a Mistake 

 In the event of a
mistake or misstatement as to the eligibility, participation, or service of any Executive or the amount of payments made or to be made to an Executive, the Committee shall, if possible, cause to be withheld or accelerated or otherwise make
adjustment of the amounts of payments as will, in its sole judgment, result in the Executive receiving the proper amount of payments under the Plan. 

  
 26 

  
 Article 8.  Amendment and
Termination 
  

	8.1	Amendment and Termination Generally 

 The
Plan may be amended or terminated by the Company, acting through its Board of Directors (or the Compensation Committee or other designee of the Board of Directors) at any time. Notwithstanding the preceding sentence, benefits may be distributed to
Executives on account of the termination only if: 
  

	(a)	The termination does not occur proximate to a downturn in the financial health of the Company; 

 

	(b)	All nonqualified defined benefit nonaccount-based retirement plans maintained by the Company and all Affiliates that would be aggregated with the Plan under Code
section 409A are terminated when the Plan is terminated; 

  

	(c)	No payments are made within 12 months after the date when the Company takes all steps necessary to terminate and liquidate the Plan, other than payments made pursuant
to the Plan’s otherwise applicable distribution provisions; 

  

	(d)	All benefits are distributed within 24 months after the date when the Company takes all steps necessary to terminate and liquidate the Plan; and

  

	(e)	Neither the Company nor any Affiliate establishes a new nonqualified, nonaccount-based plan that would be aggregated with the Plan under Code section 409A at any time
within three years after the date when the Company takes all steps necessary to terminate and liquidate the Plan. 

 Such
amendment or termination may modify or eliminate any benefits hereunder other than a benefit that is In Pay Status, or the vested portion of a benefit that is not In Pay Status. 

 

	8.2	Amendment and Termination Following a Change of Control 

 Notwithstanding the Company’s general right to amend or terminate the Plan at any time, the Company, including any successor entity to the Company, may not amend or terminate this Plan in any manner
following a Change of Control that would adversely affect the rights of an Executive to benefits under this Plan to the extent such rights are vested as of, or as a result of, such Change of Control. 

  
 27 

  
 Article 9.  Miscellaneous

  

	9.1	No Enlargement of Employee Rights 

 This
Plan is strictly a voluntary undertaking on the part of the Company and shall not be deemed to constitute a contract between the Company and any Employee or to be consideration for, or an inducement to, or a condition of, the employment of any
Employee. Nothing contained in the Plan shall be deemed to give any Employee the right to be retained in the service of the Company or any Affiliate or to interfere with the right of any of them to discharge or retire any person at any time. No one
shall have any right to benefits, except to the extent provided in this Plan. 
  

	9.2	Benefit Agreement 

 The Committee shall
provide to each Executive within 60 days of the date the Executive first became an Executive a form of benefit agreement, which shall set forth the Executive’s acceptance of the benefits provided hereunder and his agreement to be bound by the
terms of the Plan. 
  

	9.3	Exclusion for Suicide or Self-Inflicted Injury 

 Notwithstanding any other provision of the Plan, no benefits shall be paid to any Executive, or Spouse or Beneficiary in the event of the death of the Executive within two years of the later of the date
he first became an Executive or the date he executed the benefit agreement referred to in Plan section 9.2 as the result of suicide or self-inflicted injury. 
  

	9.4	Leave of Absence 

 An Executive who is on
an approved leave of absence with salary, or on an approved leave of absence without salary for a period of not more than six months, shall be deemed to be an Executive during such leave of absence. An Executive who is on an approved leave of
absence without salary for a period in excess of six months shall be deemed to have voluntarily incurred a Separation from Service as of the end of such six-month period, provided that, based on all relevant facts and circumstances, neither the
Executive nor the Company has a reasonable expectation that the Executive will provide future services to the Company or an Affiliate. 
  

	9.5	Termination for Good Cause 

Notwithstanding any provision herein to the contrary, an Executive whose employment with the Company or an Affiliate is terminated for Good Cause shall
not be eligible for any benefit hereunder. 
  

	9.6	Monthly Payments 

 Periodic payments
hereunder shall be paid in equal monthly amounts. 

  
 28 

  

	9.7	Actuarial Equivalence 

 Actuarial
equivalence hereunder shall be determined using the interest and mortality factors adopted from time to time by the Committee. The initial factors to be used shall be the factors used under the Basic Plan for determining actuarial equivalence.

  

	9.8	Withholding 

 Benefit payments hereunder
shall be subject to applicable federal, state or local withholding for taxes. 
  

	9.9	No Examination or Accounting 

 Neither
this Plan nor any action taken thereunder shall be construed as giving any person the right to an accounting or to examine the books or affairs of the Company, or any Affiliate. 

 

	9.10	Records Conclusive 

 The records of the
Company shall be conclusive in respect to all matters involved in the administration of the Plan. 
  

	9.11	Section 409A 

 Notwithstanding any
provision of this Plan to the contrary, the Committee shall administer this Plan in a manner designed to comply with Code section 409A and the Committee shall disregard any Plan provision if the Committee determines that application of such Plan
provision would subject the Executive to an additional excise tax under Code section 409A(a)(1)(B). 
  

	9.12	Service of Legal Process 

 The members of
the Committee (or if there is no such Committee then the Company) are hereby designated as agent(s) of the Plan for the purpose of receiving legal process. 
  

	9.13	Governing Law 

 The Plan shall be
construed, administered, and governed in all respects under the applicable laws of the State of California, except to the extent pre-empted by federal law. Upon any change in the law or other determination that any term, condition or other provision
of the Plan has been altered in any way, the Committee shall administer this Plan in accordance with such change notwithstanding the terms of the Plan pending an amendment to this Plan. 

 

	9.14	Severability 

 If any provision of this
Plan is held illegal or invalid for any reason, such illegality or invalidity will not affect the remaining provisions; instead, each provision is fully severable and the Plan will be construed and enforced as if any illegal or invalid provision had
never been included. 

  
 29 

  

	9.15	Missing Persons 

 The Committee shall
establish rules if the Committee is unable to make payment of a benefit due under the terms of the Plan to an Executive because the whereabouts of the Executive cannot be ascertained. 

 

	9.16	Facility of Payment 

 Every person
receiving or claiming benefits under this Plan is presumed to be mentally competent and of age until the date on which the Committee receives a written notice, in a form and manner acceptable to it, that such person is mentally incompetent or a
minor, and that a guardian or other person legally vested with the care of such person or his estate has been appointed. 
 However, if the
Committee should find that any person to whom a benefit is payable under this Plan is unable to care for his affairs because of any incompetency or is a minor, any payment due (unless a prior claim shall have been made by a duly appointed legal
representative) may be paid to the Spouse, a child, a parent, or a brother or sister, or to any other person or institution that the Committee determines to have incurred expense for such person otherwise entitled to payment. To the extent permitted
by law, any such payment so made shall be a complete discharge of any liability therefor under the Plan. 
 If a guardian of the estate or other
person legally vested with the care of the estate of any person receiving or claiming benefits under the Plan is appointed by a court of competent jurisdiction, payments shall be made to such guardian or other person provided that proper proof of
appointment and continuing qualification is furnished in a form and manner suitable to the Committee. To the extent permitted by law, such guardian or other person may act for the Executive and make any election required of or permitted by the
Executive under this Plan, and such action or election shall be deemed to have been done by the Executive, and benefit payments may be made to such guardian or other person and any such payment shall be a complete discharge of any such liability
under the Plan. 
  

	9.17	General Restrictions Against Alienation 

The interest of any Executive under this Plan shall not in any event be subject to sale, assignment, or transfer, and each Executive is hereby prohibited
from anticipating, encumbering, assigning, or in any manner alienating his interest hereunder and is without power to do so; provided, however, that this provision shall not restrict the power or authority of the Committee, in accordance with the
applicable provisions of the Plan, to disburse funds to the legally appointed guardian, executor, administrator, or personal representative of any Executive or pursuant to a valid domestic relations order certified and issued by a court of competent
jurisdiction. 
 If any person attempts to take any action contrary to this Plan section 9.17, such action shall be void and the Company may
disregard such action and is not in any manner bound thereby, and they shall suffer no liability for any such disregard thereof. If the Committee is notified that any Executive has been adjudicated bankrupt or has purported to anticipate, sell,
transfer, assign, or encumber any Plan distribution or payment, voluntarily or involuntarily, the Committee shall 

  
 30 

 
hold or apply such distribution or payment or any part thereof to, or for the benefit of, such Executive in such manner as the Committee finds appropriate. 

 

	9.18	Counterparts 

 This Plan may be executed
in any number of counterparts, each of which shall be deemed to be an original. All the counterparts shall constitute but one and the same instrument and may be sufficiently evidenced by any one counterpart. 

 

	9.19	Effect of Amendment on Vested Executives 

Any Executive who met the requirements for vesting of his Retirement Income Benefit as of October 31, 2007, shall upon Separation from Service be
entitled to receive as his Retirement Income Benefit the greater of 
  

	(a)	The Retirement Income Benefit that such Executive would have been entitled to receive under the Plan as it was in effect on October 31, 2007 (which, for the
avoidance of doubt, was prior to the amendments affected by the amendment and restatement of the Plan effective November 1, 2007) and as if such Executive had a Separation from Service on October 31, 2007 (but not for purposes of the
six-month period described at Plan section 3.5 which shall always be measured from the actual date the Executive experienced a Separation from Service); or 

 

	(b)	The Retirement Income Benefit that such Executive is entitled to receive under the Plan (which, for the avoidance of doubt, is the Plan as amended and restated
effective November 1, 2007). The amendment and restatement effective November 1, 2007, shall not result in the decrease or increase of any Retirement Income Benefit of any Executive who is In Pay Status or any Pre-Retirement Death Benefit
being paid as of October 31, 2007. 

  

	9.20	Assignment 

 The Company shall have the
right to assign its obligations under the Plan, either in whole or in part, to any Affiliate of the Company. 

  
 31 

  
 In Witness Whereof, an
authorized officer of the Company has signed this document on October 27, 2010, but effective as of June 1, 2010, unless otherwise stated herein. 

 

			
	First American Financial Corporation
		
	By:	 	/s/ Kenneth D. DeGiorgio
		
	Its:	 	Executive Vice President

  
 32Form of Amended and Restated Change in Control Agreement

  
 Exhibit 10(c)

 AMENDED AND RESTATED 
 CHANGE IN CONTROL AGREEMENT 
 This AMENDED AND RESTATED
CHANGE IN CONTROL AGREEMENT is effective as of the 31st
day of December, 2010 (this “Agreement”), by and between FIRST AMERICAN FINANCIAL CORPORATION, a Delaware corporation (the “Company”) and _____________ (the “Executive”). 

W I T N E S S E T H: 
 WHEREAS, the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of the Company has determined that it is in the best interests of the
Company, its subsidiaries, and the Company’s shareholders to assure that the Company and its subsidiaries will have the continued dedication of the Executive, notwithstanding the possibility, threat, or occurrence of a Change in Control (as
defined below) of the Company; 
 WHEREAS, the Committee believes it is imperative to diminish the inevitable distraction of the
Executive by virtue of the personal uncertainties and risks created by a pending or threatened Change in Control and to encourage the Executive’s full attention and dedication to the Company and its subsidiaries currently and in the event of
any threatened or pending Change in Control, and to provide the Executive with compensation and benefits arrangements upon a Change in Control which ensure that the compensation and benefits expectations of the Executive will be satisfied and which
are competitive with those of other corporations; and 
 WHEREAS, the Company and the Executive accordingly desire to enter into
this Agreement on the terms and conditions set forth below. 
 NOW, THEREFORE, in consideration of the premises and mutual
covenants set forth herein, it is hereby agreed by and between the parties as follows: 
 1.    Term of
Agreement. This Agreement shall commence on the date hereof and shall continue through December 31, 2011 (the “Original Term”); provided, however, that on such date and on each December 31 thereafter, the
Original Term of this Agreement shall automatically be extended for one (1) additional year (each, an “Extended Term”) unless, not later than the preceding January 1 either party shall have given notice that such party
does not wish to extend the term of this Agreement beyond the Original Term and any Extended Term; and provided, further, that if a Change in Control (as defined in paragraph 3 below) shall have occurred during the Original Term or any
Extended Term of this Agreement, the term of this Agreement shall continue for a period of thirty-six (36) calendar months beyond the calendar month in which such Change in Control occurs (the Original Term, each Extended Term, if any, and such
thirty-six (36) month period, collectively, the “Term”). 
 2.    Employment After
a Change in Control. If the Executive is in the employ of the Company (which for this purpose shall also include any subsidiary of the Company) on the date of a Change in Control, the Company hereby agrees to continue the Executive in its employ
(and/or, in the case of any subsidiary of the Company, the employ of such subsidiary) for the 

 
period commencing on the date of the Change in Control and ending on the last day of the Term of this Agreement. During the period of employment described in the foregoing provision of this
paragraph 2 (the “Employment Period”), the Executive shall hold such position with the Company (which for this purpose shall also include any subsidiary of the Company) and exercise such authority and perform such executive duties
as are commensurate with the Executive’s position, authority, and duties immediately prior to the Change in Control. The Executive agrees that during the Employment Period the Executive shall devote full business time exclusively to the
executive duties described herein and perform such duties faithfully and efficiently; provided, however, that nothing in this Agreement shall prevent the Executive from voluntarily resigning from employment upon sixty
(60) days’ written notice to the Company under circumstances which do not constitute a Termination (as defined below in paragraph 5). 
 3.    Change in Control. For purposes of this Agreement, a “Change in Control” means the happening of any of the following: 

(a)    The consummation of a merger or consolidation of the Company with or into another entity or
any other corporate reorganization, if fifty percent (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. 
 (b)    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. 

(c)    A change in the composition of the Board occurring within a two (2) year period, as a
result of which fewer than a majority of the directors are Incumbent Directors. “Incumbent Directors” shall mean directors who either: (i) are directors of the Company as of the date of this Agreement or (ii) 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. 
 (d)    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), directly or indirectly, of securities of the Company representing at least twenty-five percent (25%) 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 Securities Exchange Act of 1934, 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 twenty-five percent (25%) or more as a result of 

  
 -2-

 
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
twenty-five percent (25%) of the total voting power represented by the Company’s then outstanding voting securities. 

A transaction shall not constitute a Change in Control if its sole purpose 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. 
 4.    Compensation During the Employment Period. During the Employment Period, the Executive shall be compensated as follows: 

(a)    The Executive shall receive an annual salary which is not less than his or her annual salary
immediately prior to the Employment Period and shall be eligible to receive an increase in annual salary which is not materially less favorable to the Executive than increases in salary granted by the Company for executives with comparable duties;

 (b)    The Executive shall be eligible to participate in short-term and long-term
cash-based incentive compensation plans which, in the aggregate, provide bonus opportunities which are not materially less favorable to the Executive than the greater of: (i) the opportunities provided by the Company for executives with
comparable duties; and (ii) the opportunities provided to the Executive under all such plans in which the Executive was participating prior to the Employment Period; 

(c)    The Executive shall be eligible to participate in stock option, performance awards, restricted
stock, and other equity-based incentive compensation plans on a basis not materially less favorable to the Executive than that applicable: (i) to the Executive immediately prior to the Employment Period; or (ii) to other executives of the
Company with comparable duties; and 
 (d)    The Executive shall be eligible to receive
employee benefits (including, but not limited to, tax-qualified and nonqualified savings plan benefits (but not the Company’s supplemental benefit plans, which, for the avoidance of doubt, separately make provision for the effects of a change
in control thereunder), medical insurance, disability income protection, life insurance coverage, and death benefits) and perquisites (including, without limitation, a Company vehicle and Company-paid or assisted membership dues) which are not
materially less favorable to the Executive than: (i) the employee benefits and perquisites provided by the Company to executives with comparable duties; or (ii) the employee benefits and perquisites to which the Executive would be entitled
under the Company’s employee benefit plans and perquisites as in effect immediately prior to the Employment Period. 

  
 -3-

  

5.    Termination. For purposes of this Agreement, the term “Termination” shall mean:
(a) termination of the employment of the Executive during the Employment Period by the Company for any reason other than death, Disability (as defined below), or Cause (as defined below); or (b) termination of the employment of the
Executive during the Employment Period by the Executive for Good Reason (as defined below). 
 Notwithstanding anything in this
Agreement to the contrary, if: (a) the Executive’s employment is terminated within six (6) months prior to the actual occurrence of a Change in Control for reasons that would constitute a Termination if it had occurred following a
Change in Control; (b) the Executive reasonably demonstrates that such termination (or Good Reason event) was at the request of a third party who had indicated an intention or had taken steps reasonably calculated to effect a Change in Control;
and (c) a Change in Control involving such third party (or a party competing with such third party to effectuate a Change in Control) does occur, then for purposes of this Agreement, the date immediately prior to the date of such termination of
employment or event constituting Good Reason shall be treated as a Change in Control and such termination shall be treated as a Termination. For purposes of determining the timing of payments and benefits to the Executive under this Agreement as a
result of this paragraph, payment shall be made in accordance with the provisions of paragraph 6(a). 
 The date of the
Executive’s Termination under this paragraph 5 shall be the date of the Executive’s “Separation from Service” (as defined under Section 409A of the Internal Revenue Code (the “Code”)). 

For purposes of this Agreement, “Disability” means such physical or mental disability or infirmity of the Executive
which, in the opinion of a competent physician, renders the Executive unable to perform properly his or her duties set forth in paragraph 2 of this Agreement, and as a result of which the Executive is unable to perform such duties for six
(6) consecutive calendar months or for shorter periods aggregating one hundred eighty (180) business days in any twelve (12) month period. For purposes of this paragraph, a competent physician shall be a physician mutually agreed upon
by the Executive and the Board. If a mutual agreement cannot be reached, the Executive shall designate a physician and the Board shall designate a physician and these two physicians shall select a third physician who shall be the “competent
physician.” 
 For purposes of this Agreement, the term “Cause” means: (a) the willful and continued
failure by the Executive to substantially perform the Executive’s duties with the Company (which for purposes of this paragraph shall also include subsidiaries of the Company) after written notification by the Board; (b) the willful
engaging by the Executive in conduct which is demonstrably injurious to the Company, monetarily or otherwise; or (c) the engaging by the Executive in egregious misconduct involving serious moral turpitude. For purposes of this Agreement, no
act, or failure to act, on the Executive’s part shall be deemed “willful” unless done, or omitted to be done, by the Executive not in good faith and without reasonable belief that such action was in the best interest of the Company.

  
 -4-

  
 For purposes of this
Agreement, the term “Good Reason” means, without the Executive’s express written consent, the occurrence after a Change in Control of any of the following circumstances: 

(a)    The assignment to the Executive by the Company of duties which are a significant adverse
alteration in the nature or status of the Executive’s position, responsibilities, duties, or conditions of employment from those in effect immediately prior to the occurrence of the Change in Control; or any other action by the Company that
results in a material diminution in the Executive’s position, authority, duties, or responsibilities from those in effect immediately prior to the occurrence of the Change in Control; 

(b)    A reduction in the Executive’s annual base compensation as in effect on the occurrence of
the Change in Control; 
 (c)    The relocation of the Company’s offices at which the
Executive is principally employed immediately prior to the Change in Control (the “Principal Location”) to a location more than fifty (50) miles from such location or the Company’s requiring the Executive to be based
anywhere other than the Principal Location, except for required travel on the Company’s business to an extent substantially consistent with the Executive’s business travel obligations prior to the Change in Control; 

(d)    The Company’s failure to pay to the Executive any portion of the Executive’s
compensation or to pay to the Executive any portion of an installment of deferred compensation under any deferred compensation program of the Company within ten (10) days of the date such compensation is due; or 

(e)    The Company’s failure to continue in effect any material compensation or benefit plan or
practice in which the Executive is eligible to participate on the occurrence of the Change in Control, unless an equitable arrangement (embodied in an ongoing substitute or alternative plan) has been made with respect to such plan or practice, or
the Company’s failure to continue the Executive’s participation therein (or in such substitute or alternative plan) on a basis not materially less favorable, both in terms of the amount of benefits provided and the level of the
Executive’s participation relative to other participants, as existed at the time of the Change in Control. 

6.    Severance Payments and Benefits. Subject to the provisions of paragraph 8 below, in the event of a
Termination, in lieu of the amount otherwise payable under paragraph 4 above, the Company shall: 

(a)    Pay the Executive a lump-sum payment in cash no later than ten (10) business days after
the date of Termination equal to the sum of: 
 (i)    The sum of: (A) the
Executive’s base salary through and including the date of Termination and any bonus amounts which have become payable, to the extent either has not theretofore been paid; (B) a pro rata portion of the

  
 -5-

 
Executive’s annual bonus for the fiscal year in which the date of Termination occurs in an amount equal to: (1) the Executive’s Bonus Amount (as defined below), multiplied by
(2) a fraction, the numerator of which is the number of days in the fiscal year in which the date of Termination occurs through and including the date of Termination, and the denominator of which is three hundred sixty-five (365);
(C) accrued and unpaid vacation pay through and including the date of Termination; and (D) unreimbursed business expenses through and including the date of Termination; 

(ii)    An amount equal to the product of the Applicable Multiple (as defined below) and the
Executive’s annual salary in effect immediately prior to the date of Termination; and 

(iii)    An amount equal to the product of the Applicable Multiple and the Executive’s Bonus
Amount; 
 Notwithstanding the provisions of this paragraph 6(a), with respect to any amounts which constitute a
deferral of compensation subject to Section 409A of the Code and provided the Executive is a “Specified Employee” (as defined under Section 409A of the Code), such amounts shall be paid to the Executive on the date which is six
(6) months after his or her date of Separation from Service. 
 (b)    Continue to
provide the Executive (and, if applicable, the Executive’s dependents), for a twenty-four (24) month period following the date of Termination, with the same level of benefits described in paragraph 4(d) of this Agreement upon substantially
the same terms and conditions (including contributions required by the Executive for such benefits) as existed immediately prior to the date of Termination (or, if more favorable to the Executive, as such benefits and terms and conditions existed
immediately prior to the Change of Control), provided, that if the Executive cannot continue to participate in the Company plans providing such benefits, the Company shall otherwise provide such benefits (or the cash-equivalent thereof) on
the same after-tax basis as if continued participation had been permitted, and further provided the amount of expenses eligible for reimbursement during the Executive’s taxable year shall not affect the expenses eligible for reimbursement in
any other taxable year. Notwithstanding the foregoing provisions of this paragraph, in the event the Executive becomes reemployed with another employer and becomes eligible to receive welfare benefits from such employer, the welfare benefits
described in this Agreement shall be secondary to such benefits during the period of the Executive’s eligibility, but only to the extent that the Company reimburses the Executive for any increased cost and provides any additional benefits
necessary to give the Executive the benefits provided hereunder. 
 For purposes of this Agreement, the term “Applicable
Multiple” means two (2). 
 For purposes of this Agreement, the term “Bonus Amount” means the
Executive’s target annual bonus for the year of Termination, or, if the Executive does not have a target annual bonus or the Executive’s target annual bonus is reduced following a Change in Control, six

  
 -6-

 
months prior to a Change in Control or the Executive reasonably demonstrates that the target annual bonus was reduced at the request of a third party who had indicated an intention or had taken
steps reasonably calculated to effect a Change in Control, the average annual discretionary incentive bonus (including cash bonuses and stock bonuses (including any restricted stock units awarded as a component of the annual incentive bonus), but
excluding any other long-term incentive compensation) earned by the Executive during the last three (3) completed fiscal years of the Company (including, for the avoidance of doubt, any portion of such three fiscal year period that elapsed
prior to the Company’s June 1, 2010, spin-off separation (the “Separation”) from its former parent, The First American Corporation (“FAC”)) immediately preceding the date of Termination (i) for such
portion of the three fiscal year period prior to the consummation of the transactions contemplated by the Separation Agreement, from FAC and its subsidiaries and (ii) for such portion of the three fiscal year period following the Separation,
from the Company and its subsidiaries (in each case annualized in the event the Executive was not employed by the Company, FAC and/or any of their respective subsidiaries for the whole of any such fiscal year). 

7.    Parachute Payments. If any payment or benefit due under this Agreement, together with all other payments
and benefits (including, without limitation, the acceleration of vesting of stock options, restricted stock and performance shares) to which the Executive is entitled from the Company, or any affiliate thereof, would (if paid or provided) constitute
an “excess parachute payment” (as defined in Section 280G(b)(1) of the Code, or any successor provision), the amounts otherwise payable and benefits otherwise due under this Agreement will either (a) be delivered in full, or
(b) be limited to the minimum extent necessary to ensure that no portion thereof will fail to be tax-deductible to the Company by reason of Section 280G of the Code, whichever of the foregoing amounts, taking into account the applicable
federal, state or local income and employment taxes and the excise tax imposed under Section 4999 of the Code, results in the Executive’s receipt, on an after-tax basis, of the greatest amount of benefits, notwithstanding that all or some
portion of such benefits may be subject to the excise tax imposed under Section 4999 of the Code. In the event that the payments and/or benefits are to be reduced pursuant to this paragraph 7, such payments and benefits shall be reduced such
that the reduction of compensation to be provided to Executive as a result of this paragraph 7 is minimized. In applying this principle, the reduction shall be made in a manner consistent with the requirements of Section 409A of the Code and
where two economically equivalent amounts are subject to reduction but payable at different times, such amounts shall be reduced on a pro-rata basis but not below zero. 
 8.    Withholding. All payments to the Executive under this Agreement will be subject to all applicable withholding of state and federal taxes. 

9.    Arbitration of All Disputes. Any controversy or claim arising out of or relating to this Agreement or
the breach thereof shall be settled by arbitration in Santa Ana, California, in accordance with the laws of the State of California or such other location mutually agreeable to the parties, by three (3) arbitrators appointed by the parties. If
the parties cannot agree on the appointment of the arbitrators, one shall be appointed by the Company and one by the Executive and the third shall be appointed by the first two arbitrators. The arbitration shall be conducted in accordance with the
rules of the American Arbitration Association, except with respect to the 

  
 -7-

 
selection of arbitrators which shall be as provided in this paragraph 9. Judgment upon the award rendered by the arbitrators may be entered in any court having jurisdiction thereof. In the event
that it shall be necessary or desirable, as determined by the Executive in his or her sole discretion, for the Executive to retain legal counsel or incur other costs and expenses in connection with interpretation or enforcement of his or her rights
under this Agreement, the Company shall pay (or the Executive shall be entitled to recover from the Company, as the case may be) his or her reasonable attorneys’ fees and costs and expenses in connection with interpretation or enforcement of
his or her rights (including the enforcement of any arbitration award in court). Payments shall be made to the Executive at the time such fees, costs, and expenses are incurred. If, however, the arbitrators shall determine that, under the
circumstances, payment by the Company of all or a part of any such fees and costs and expenses would be unjust, the Executive shall repay such amounts to the Company in accordance with the order of the arbitrators. Any award of the arbitrators shall
include interest at a rate or rates considered just under the circumstances by the arbitrators. 

10.    Mitigation and Set-Off. The Executive shall not be required to mitigate the amount of any payment
provided for in this Agreement by seeking other employment or otherwise. The Company shall not be entitled to set off against the amounts payable to the Executive under this Agreement any amounts owed to the Company by the Executive, any amounts
earned by the Executive in other employment after termination of his employment with the Company, or any amounts which might have been earned by the Executive in other employment had he or she sought such other employment. 

11.    Notices. Any notice of Termination of the Executive’s employment by the Company or the Executive
for any reason shall be upon no less than ten (10) days’ and no greater than thirty (30) days’ advance written notice to the other party. Any notices, requests, demands, and other communications provided for by this Agreement
shall be sufficient if in writing and if sent by registered or certified mail to the Executive at the last address he or she has filed in writing with the Company or, in the case of the Company, to the attention of the Secretary of the Company, at
its principal executive offices. 
 12.    Non-Alienation. The Executive shall not have any right to
pledge, hypothecate, anticipate, or in any way create a lien upon any amounts provided under this Agreement; and no benefits payable hereunder shall be assignable in anticipation of payment either by voluntary or involuntary acts, or by operation of
law. Nothing in this paragraph shall limit the Executive’s rights or powers to dispose of his or her property by will or limit any rights or powers which his or her executor or administrator would otherwise have. 

13.    Governing Law. The provisions of this Agreement shall be construed in accordance with the laws of the
State of California, without application of conflict of laws provisions thereunder. 

14.    Amendment. This Agreement may not be amended, modified, waived, or terminated except by mutual
agreement of the parties in writing. 

  
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15.    Heirs of the Executive. This Agreement shall inure to the benefit of and be enforceable by the
Executive’s personal and legal representatives, executors, administrators, successors, heirs, distributees, devisees, and legatees. If the Executive should die while any amounts are still payable to the Executive hereunder, all such amounts,
unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to the Executive’s devisee, legatee, or other designee or, if there be no such designee, to the Executive’s estate. 

16.    Successors to the Company. This Agreement shall be binding upon and inure to the benefit of the Company
and any successor of the Company. The Company shall require: (i) any successor (whether direct or indirect, by purchase, merger, consolidation, or otherwise) to all or substantially all of the business and/or assets of the Company to expressly
assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place; and (ii) the parent entity of any successor in such business
combination to guarantee the performance of such successor hereunder. Failure of the Company to obtain such assumption and agreement (and, if applicable, such guarantee) prior to the effectiveness of any such succession shall be a breach of this
Agreement and shall entitle the Executive to receive compensation from the Company in the same amount and on the same terms to which the Executive would be entitled hereunder if the Executive terminated the Executive’s employment for Good
Reason following a Change in Control, except that for purposes of implementing the foregoing, the date on which any such succession becomes effective shall be deemed the date of Termination. Unless expressly provided otherwise, the term
“Company” as used herein shall mean the Company as defined in this Agreement and any successor to its business and/or assets as aforesaid. 
 17.    Reimbursement of Expenses. To the extent this Agreement provides for the reimbursement of expenses which are not specifically excluded from Section 409A of the Code,
such expenses shall be eligible for reimbursement for the lifetime of the Executive, and the amount of expenses eligible for reimbursement during the Executive’s taxable year shall not affect the expenses eligible for reimbursement in any other
taxable year. 
 18.    Employment Status. Nothing herein contained shall be deemed to create an
employment agreement between the Company and the Executive, providing for the employment of the Executive by the Company for any fixed period of time. The Executive’s employment with the Company is terminable at will by the Company or the
Executive and each shall have the right to terminate the Executive’s employment with the Company at any time, with or without Cause, subject to: (a) the notice provisions of paragraphs 2, 5, and 11, (b) the Company’s obligation
to provide severance payments as required by paragraph 6 and (c) the terms and conditions of any employment agreement between the Company and the Executive. Except as otherwise provided in paragraph 5 of this Agreement, upon a termination of
the Executive’s employment prior to the date of a Change in Control, there shall be no further rights under this Agreement. 
 19.    Severability. In the event that any provision or portion of this Agreement shall be determined to be invalid or unenforceable for any reason, the remaining provisions of
this Agreement shall be unaffected thereby and shall remain in full force and effect. 

  
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20.    Counterparts. This Agreement may be executed in two (2) or more counterparts, any one (1) of
which shall be deemed the original without reference to the other. 
 21.    Entire Agreement. This
Agreement contains the entire understanding of the parties hereto with respect to the subject matter contained herein and supersedes all prior agreements and understandings, oral and written, with respect thereto (including any prior Change in
Control Agreement between the parties and/or any Change in Control Agreement to which the Executive and FAC or any affiliate of FAC is a party); provided, for the avoidance of doubt, that this Agreement does not supersede all or any portion
(including, without limitation, any provision governing the effect of any change in control) of any benefit plan or compensation plan of the Company or any employment agreement to which the Executive is a party. Any reference to any prior Change in
Control Agreement between the parties shall from and after the date hereof be deemed to be a reference to this Agreement. 

  
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 IN WITNESS WHEREOF,
the Executive has hereunto set his or her hand and, pursuant to the authorization from the Committee, the Company has caused these presents to be executed in its name and on its behalf, all as of the day and year first above written. 

 

	
	“Executive”
	
	  
	
	  

  

 

	
	FIRST AMERICAN FINANCIAL CORPORATION
	
	  
	Name:
	Title:

  
 -11-

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