Document:

EX-10.5

 EXHIBIT 10.5 

2016 EXECUTIVE PERFORMANCE SHARE AWARD AGREEMENT 

PFSWEB, INC. 2005 EMPLOYEE STOCK AND INCENTIVE PLAN 

THIS PERFORMANCE SHARE AWARD AGREEMENT (“Agreement”) is made and entered into as of the 31st day of March, 2016 (the
“Grant Date”) by and between                      (the “Employee”) and PFSweb, Inc., a Delaware corporation (the
“Company”), and is issued under and pursuant to the PFSweb, Inc., 2005 Employee Stock and Incentive Plan, as the same may be amended from time to time (the “Plan;” terms defined in the Plan having the same meaning when used
herein, except as otherwise defined herein). 
 NOW, THEREFORE, intending to be legally bound, and for good and valuable
consideration, the sufficiency of which is hereby acknowledged, the Company and the Employee hereby agree as follows: 
 1.
Definitions. The following terms (not otherwise defined herein), when used in this Agreement, shall have the following meanings, unless the context clearly requires otherwise (such definitions to be equally applicable to both the singular
and plural of the defined terms). 
 “Adjusted EBITDA” shall mean the amount determined by the Committee as the
Company’s “Adjusted EBITDA” for Fiscal Year 2016. 
 “Annual Closing Price” shall mean, for any Fiscal Year
or Performance Period, the product obtained by multiplying (i) the quotient obtained by dividing the Average Closing Price by the Opening Price, by (ii) 100. 

“Annual Index Targets” shall mean the First Annual Index target, the Second Annual Index target, the Third Annual Index
Target and the Fourth Annual Index Target. 
 “Average Closing Price” shall mean, for any Fiscal Year or Performance
Period, the simple arithmetic average of the daily volume-weighted average price (“VWAP”) for the Stock on NASDAQ during the 20 consecutive trading days ending on and including the last day of the Fiscal Year or Performance Period. 

“Average Index Closing Price” shall mean, for any Fiscal Year or Performance Period, the simple arithmetic average of the
closing index values of the Index as reported by Bloomberg or other similar reporting service during the 20 consecutive trading days ending on and including the last day of the Fiscal Year or Performance Period. 

“Base Bonus” shall mean the Performance Shares payable to the Employee in respect of Fiscal Year 2016 upon the achievement of
the Base Bonus Target as set forth in the individual Award Certificate issued by the Committee to the Employee. 
 “Base Bonus
Target” shall mean Adjusted EBITDA for Fiscal Year 2016 equaling or exceeding the amounts so designated as set forth in the individual Award Certificate issued by the Committee to the Employee. 

“Cumulative Index Targets,” shall mean the First Cumulative Index Target, the Second Cumulative Index Target, the Third
Cumulative Index Target and the Fourth Cumulative Index Target as set forth below, which shall be deemed achieved for the Performance Periods set forth below if (i) for the First Cumulative Index Target, the Annual Closing Price equals or
exceeds the Index Closing Price within the corresponding ranges set forth below, and (ii) for Cumulative Index Targets other than the First Cumulative Index Target, the Annual Closing Price exceeds the Index Closing Price within the
corresponding ranges set forth below. 
  

									
	 Cumulative

Index Target
	  	First
Performance
Period	    	Second
Performance
Period	    	Third
Performance
Period	    	Fourth
Performance
Period
	 First Cumulative Index Target
	  	0.00 – 1.874	    	0.00 – 4.374	    	0.00 – 6.874	    	0.00 – 9.374
	 Second Cumulative Index Target
	  	1.875 – 3.74	    	4.375 – 8.74	    	6.875 – 13.74	    	9.375 – 18.74
	 Third Cumulative Index Target
	  	3.75 – 5.624	    	8.75 – 13.124	    	13.75 – 20.624	    	18.75 – 28.124
	 Fourth Cumulative Index Target
	  	5.625 or more	    	13.125 or more	    	20.625 or more	    	28.125 or more

 “ERISA” shall mean the Employee Retirement Income Security Act of 1986, as
amended. 
 “First Annual Index Target” shall mean, for Fiscal Year 2016, the Annual Closing Price equals the Index Closing
Price or exceeds the Index Closing Price by up to, but not including 1.875, and for any other Fiscal Year, the Annual Closing Price equals or exceeds the Index Closing Price by up to, but not including, 2.50. 

“First Performance Period” shall mean the 2016 Fiscal Year. 

“Fiscal Year” shall mean the 12-consecutive-month period beginning on January 1 and ending on December 31, so that,
by way of example, Fiscal Year 2016 shall mean the 12-consecutive-month period beginning on January 1, 2016 and ending on December 31, 2016. 

“Fiscal Year Date” shall mean December 31, 2016. 

“Fourth Annual Index Target” shall mean, for Fiscal Year 2016, the Annual Closing Price exceeds the Index Closing Price by
5.625 or more, and for any other fiscal Year, the Annual Closing Price exceeds the Index Closing Price by 7.5 or more. 
 “Fourth
Performance Period” shall mean the period beginning on January 1, 2016 and ending on December 31, 2019. 

“Index” shall mean the Russell Microcap Index, as issued by Russell Investments, Inc., or, if such Index is no longer
published or the Committee determines that such Index no longer appropriately represents the Company’s peer group (as measured by market capitalization), such other index as the Committee shall determine in its sole discretion. 

“Index Closing Price” shall mean, for any Fiscal Year or Performance Period, the product obtained by multiplying (i) the
quotient obtained by dividing the Average Index Closing Price by the Opening Index Price, by (ii) 100. 
 “Opening
Price” shall mean (i) Thirteen Dollars and Twenty Cents ($13.20) for purposes of determining the Annual Index Targets for Fiscal Year 2016 and the Cumulative Index Targets and (ii) for purposes of determining the Annual Index
Targets for any Fiscal Year other than Fiscal Year 2016, the Average Closing Price for the immediately preceding Fiscal Year. 

“Opening Index Price” shall mean (i) $422.90 for purposes of determining the Annual Index Targets for Fiscal Year 2016
and the Cumulative Index Targets and (ii) for purposes of determining the Annual Index Targets for any Fiscal Year other than Fiscal Year 2016, the Average Index Closing Price for the immediately preceding Fiscal Year. 

 “Performance Period” shall mean the First Performance Period, the Second
Performance Period, the Third Performance Period or the Fourth Performance Period, as applicable. 
 “Second Annual Index
Target” shall mean, for Fiscal Year 2016, the Annual Closing Price exceeds the Index Closing Price by 1.875 or more up to, but not including 3.75, and for any other Fiscal Year, the Annual Closing Price exceeds the Index Closing Price by
2.5 or more, up to, but not including, 5.0. 
 “Second Performance Period” shall mean the period beginning on
January 1, 2016 and ending on December 31, 2017. 
 “Stretch Bonus” shall mean the Performance Shares payable to
the Employee in respect of Fiscal Year 2016 upon the achievement of the Stretch Bonus Target as set forth in the individual Award Certificate issued by the Committee to the Employee. 

“Stretch Bonus Target” shall mean Adjusted EBITDA for Fiscal Year 2016 equaling or exceeding the amounts so designated as set
forth in the individual Award Certificate issued by the Committee to the Employee. 
 “Target Bonus” shall mean the
Performance Shares payable to the Employee upon the achievement of the Target Bonus Target as set forth in the individual Award Certificate issued by the Committee to the Employee. 

“Target Bonus Target” shall mean Adjusted EBITDA for Fiscal Year 2016 equaling or exceeding the amounts so designated as set
forth in the individual Award Certificate issued by the Committee to the Employee. 
 “Third Annual Index Target” shall
mean, for Fiscal Year 2016, the Annual Closing Price exceeds the Index Closing Price by 3.75 or more up to, but not including 5.625, and for any other Fiscal Year, the Annual Closing Price exceeds the Index Closing Price by 5.0 or more, up to, but
not including, 7.5. 
 “Third Performance Period” shall mean the period beginning on January 1, 2016 and ending on
December 31, 2018. 
 2. Performance Shares. The number of Performance Shares payable to the Employee hereunder shall be
determined as follows: 
 (a) Base Bonus. If the Base Bonus Target, but neither the Target Bonus Target nor the Stretch Bonus Target,
is achieved, the number of Performance Shares payable to the Employee hereunder shall be the Base Bonus. If the Base Bonus Target is not achieved, the Employee shall not be entitled to payment of any Performance Shares under this Agreement. 

(b) Target Bonus. If the Target Bonus Target, but not the Stretch Bonus Target, is achieved, the number of Performance Shares payable to
the Employee hereunder shall be the Target Bonus. 
 (c) Stretch Bonus. If the Stretch Bonus Target is achieved, the number of
Performance Shares payable to the Employee hereunder shall be the Stretch Bonus. 
 3. Determination of Target Achievement.
The Committee, in its sole and absolute discretion, shall determine when, whether, and if so, the extent to which, the Base Bonus Target, Target Bonus Target or Stretch Bonus Target, as applicable, has been achieved. Such determination, which shall
be final and binding on all parties, shall be certified in writing as soon as administratively practicable in Fiscal Year 2017. 

 4. Vesting of Performance Shares; Forfeiture. Each Performance Share represents an
unfunded, unsecured promise by the Company to provide the Employee with the Performance Shares set forth herein, subject to the satisfaction of the vesting and other terms and conditions set forth herein. The Employee shall have no vested right in
the Performance Shares unless the Committee certifies to the Board that the Base Bonus Target, Target Bonus Target or Stretch Bonus Target, as applicable, has been achieved. Such achievement, as evidenced by such certification by the Committee,
shall be construed by all parties as a condition related to the purpose of the compensation for purposes of Section 409A of the Code. Provided that such certification is made, the Performance Shares shall vest and be issued and payable as
follows: 
 4.1 Employment Vesting. A number of Performance Shares equal to one-half (1/2) of the number of Performance Shares
payable hereunder shall vest in four (4) equal installments (each, an “Employment Vesting Installment”), commencing on January 1, 2017 and on each January 1 thereafter, so that the Employment Vesting Installment for
Fiscal Year 2016 shall vest on January 1, 2017, the Employment Vesting Installment for Fiscal Year 2017 shall vest on January 1, 2018, the Employment Vesting Installment for Fiscal Year 2018 shall vest on January 1, 2019, and the
Employment Vesting Installment for Fiscal Year 2019 shall vest on January 1, 2020; provided that, for each such Employment Vesting Installment, as applicable, the Employee is employed by the Company as of the last day of the Fiscal Year, as
applicable, for the corresponding Employment Vesting Installment for such Fiscal Year. 
 4.2 Annual Index Vesting. A number of
Performance Shares equal to one-fourth (1/4) of the Performance Shares payable hereunder shall vest in four (4) equal installments (each, an “Annual Index Vesting Installment”), commencing on January 1, 2017 and on
each of January 1 thereafter, so that the Annual Index Vesting Installment for Fiscal Year 2016 shall vest on January 1, 2017, the Annual Index Vesting Installment for Fiscal Year 2017 shall vest on January 1, 2018, the Annual Index
Vesting Installment for Fiscal Year 2018 shall vest on January 1, 2019, and the Annual Index Vesting Installment for Fiscal Year 2019 shall vest on January 1, 2020; provided that, for each such Annual Index Vesting Installment, as
applicable: 
 (a) the Employee is employed by the Company as of the last day of the Fiscal Year, as applicable, for the corresponding Annual
Index Vesting Installment for such Fiscal Year; and 
 (b) for each applicable Fiscal Year: (i) the First Annual Index Target is
achieved, in which event the corresponding Annual Index Vesting Installment shall vest as to twenty-five percent (25%) of the Performance Shares subject thereto and the remaining seventy five percent (75%) of such Annual Index Vesting
Installment shall be forfeited; (ii) the Second Annual Index Target is achieved, in which event the corresponding Annual Index Vesting Installment shall vest as to fifty percent (50%) of the Performance Shares subject thereto and the
remaining fifty percent (50%) of such Annual Index Vesting Installment shall be forfeited; (iii) the Third Annual Index Target is achieved, in which event the corresponding Annual Index Vesting Installment shall vest as to seventy-five
percent (75%) of the Performance Shares subject thereto and the remaining twenty-five percent (25%) of such Annual Index Vesting Installment shall be forfeited; or (iv) the Fourth Annual Index Target is achieved, in which event the
corresponding Annual Index Vesting Installment shall vest as to one hundred percent (100%) of the Performance Shares subject thereto. 
 The Annual
Index Vesting Installment for any Fiscal Year shall not vest and shall be forfeited if none of the Annual Index Targets is achieved for such Fiscal Year. 

 4.3 Cumulative Index Vesting. A number of Performance Shares equal to one-fourth
(1/4) of the Performance Shares payable hereunder shall vest in four (4) equal installments (each, a “Cumulative Index Vesting Installment”), commencing on January 1, 2017 and on each January 1 thereafter, so
that the Cumulative Index Vesting Installment for Fiscal Year 2016 shall vest on January 1, 2017, the Cumulative Index Vesting Installment for Fiscal Year 2017 shall vest on January 1, 2018, the Cumulative Index Vesting Installment for
Fiscal Year 2018 shall vest on January 1, 2019, and the Cumulative Index Vesting Installment for Fiscal Year 2019 shall vest on January 1, 2020; provided that, for each such Cumulative Index Vesting Installment, as applicable: 

(a) the Employee is employed by the Company as of the last day of the Fiscal Year, as applicable, for the corresponding Cumulative Index
Vesting Installment for such Fiscal Year; and 
 (b) for each Fiscal Year whose last day corresponds to the last day of a Performance Period,
as to the Cumulative Index Target Vesting Installment for such Fiscal Year: (i) the First Cumulative Index Target is achieved, in which event the corresponding Cumulative Index Vesting Installment shall vest as to twenty-five percent
(25%) of the Performance Shares subject thereto and the remaining seventy five percent (75%) of such Cumulative Index Vesting Installment shall be forfeited; (ii) the Second Cumulative Index Target is achieved, in which event the
corresponding Cumulative Index Vesting Installment shall vest as to fifty percent (50%) of the Performance Shares subject thereto and the remaining fifty percent (50%) of such Cumulative Index Vesting Installment shall be forfeited;
(iii) the Third Cumulative Index Target is achieved, in which event the corresponding Cumulative Index Vesting Installment shall vest as to seventy-five percent (75%) of the Performance Shares subject thereto and the remaining twenty-five
percent (25%) of such Cumulative Index Vesting Installment shall be forfeited; or (iv) the Fourth Cumulative Index Target is achieved, in which event the corresponding Cumulative Index Vesting Installment shall vest as to one hundred
percent (100%) of the Performance Shares subject thereto. 
 The Cumulative Index Vesting Installment for any Fiscal Year shall not vest and shall be
forfeited if none of the Cumulative Index Targets is achieved for such Fiscal Year. 
 4.4 The Committee, in its sole and absolute
discretion, shall determine when, whether, and if so, the extent to which, the vesting conditions set forth in Sections 4.1, 4.2 and 4.3 have been satisfied. Such determination, which shall be final and binding on all parties, shall be certified in
writing as soon as administratively practicable following the last day of each Fiscal Year. 
 4.5 If, at any time, the Employee voluntarily
leaves employment with the Company other than for Good Reason or is terminated by the Company for Cause, the Employee shall forfeit the entirety of the then unvested Performance Shares otherwise payable hereunder. 

4.6 Notwithstanding the foregoing, but subject to the achievement of the Base Bonus Target, Target Bonus Target or Stretch Bonus Target, as
set forth above, if the Employee’s employment by the Company is terminated by the Company without Cause, or terminated by the Employee for Good Reason, or terminated due to death or Disability of the Employee, then, for the Fiscal Year in which
such termination occurs, a portion of the Employment Vesting Installment for such Fiscal Year shall be deemed vested as of the date of termination, such portion to be equal to the Employment Vesting Installment for such Fiscal Year, multiplied by a
fraction, the numerator of which is the number of days in such Fiscal Year in which the Employee is employed by the Company and the denominator of which is 366. 

5. Payment of Performance Shares. Payment of the Performance Shares shall be made by book-entry or, if the Employee so directs
the Company not later than 10 days prior to the issuance thereof, 

 
by the issuance of one or more certificates, less all applicable withholdings, within 120 days after the last day of the applicable Fiscal Year. The Employee acknowledges and agrees that the
Company has the right to deduct from payments of any kind otherwise due to the Employee any federal, state or local taxes of any kind required by law to be withheld with respect to the grant or vesting, as applicable, of the Performance Shares. 

6. No Rights as Shareholder. The Employee shall have no rights to any of the Performance Shares issuable hereunder unless and
until all vesting and other conditions set forth herein have been fully satisfied, as determined by the Committee in its good faith judgment. Until the Performance Shares are vested, neither the Performance Shares nor any of the rights relating
thereto may be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Employee. Any attempt to assign, alienate, pledge, attach, sell or otherwise transfer or encumber the Performance Shares or any of the rights
related thereto prior to the vesting of such Performance Shares shall be wholly ineffective and shall not be recognized by the Company for any purpose, except that any Performance Shares which, pursuant to the terms hereof, vest following the death
or Disability of the Employee may be paid to the Employee’s heirs, estate, agents, beneficiaries or assigns. 
 7. Provisions of
Plan. Except as provided herein, the provisions of this Agreement shall be subject to the provisions of the Plan, which are hereby incorporated herein by reference and made part hereof. The Employee acknowledges and agrees that he or she has
been provided with and has read the Plan and understands the provisions thereof. In the event of any conflict between the terms of the Plan and the terms of this Agreement, the terms of the Plan shall take precedence, other than for such provisions
of the Plan which, by their terms, are subject to the provisions of an Award Certificate. 
 8. No ERISA Plan. Neither this
Agreement nor the award of the Performance-Shares hereunder shall be construed by any party as being subject to any provisions of ERISA, and shall not be so subject. Without in any way limiting the generality of the foregoing, the Performance Shares
awarded hereunder shall constitute a mere unfunded promise to pay by the Company and a bonus program within the meaning of Department of Labor Regulation Section 2510.3-2(c) promulgated under ERISA. 

9. Notices. Any notice required to be delivered to the Company under this Agreement shall be in writing and addressed to the
Secretary of the Company at the Company’s principal corporate offices. Any notice required to be delivered to the Employee under this Agreement shall be in writing and addressed to the Employee at the Employee’s address as shown in the
records of the Company. Either party may designate another address in writing (or by such other method approved by the Company) from time to time. 

10. Change in Control. Notwithstanding anything contained herein, all unvested Performance Shares shall accelerate and
immediately vest upon the occurrence of a Change in Control, such acceleration and vesting to be deemed to have occurred at such time as may be necessary or required in order for the Employee to be deemed the lawful owner and holder of record as of
the effective date and time of the Change in Control. For purposes of this paragraph, the term “unvested Performance Shares” shall mean, (i) as of any date of determination following the last day of Fiscal Year 2016, the maximum
number of Performance Shares then payable hereunder or subject to vesting hereunder, as determined under Section 2 above, assuming that all conditions to issuance and vesting hereunder have been satisfied and (ii) as of any date of
determination prior to or as of the last day of Fiscal Year 2016, the maximum number of Performance Shares then payable hereunder or subject to vesting hereunder, as determined under Section 2 above, assuming that the minimum Target Bonus
Target has been achieved and all conditions to issuance and vesting hereunder have been satisfied. 

 11. Parachute Payments and Parachute Awards. If the Employee is a “disqualified
individual,” as defined in paragraph (c) of Code Section 280G, then, notwithstanding any other provision of this Agreement or of any other agreement, contract, or understanding heretofore entered into by the Employee and the Company
(an “Other Agreement”), except an agreement, contract, or understanding that expressly addresses Code Section 280G or Code Section 4999 (a “280G Agreement”), and notwithstanding any formal or informal plan
or other arrangement for the direct or indirect provision of compensation to the Employee (or an employee group of which the Employee is a member), whether or not such compensation is deferred, is in cash, or is in the form of a benefit to or for
the Employee (a “Benefit Arrangement”), any right the Employee has in respect of payment under this Agreement, any Other Agreement or any Benefit Arrangement will be reduced or eliminated: (a) to the extent that such right to
payment, taking into account all other rights, payments, or benefits to or for the Employee under all Other Agreements and all Benefit Arrangements, would cause the payment to Employee under this Agreement to be considered a “parachute
payment” within the meaning of paragraph (b)(2) of Code Section 280G as then in effect (a “Parachute Payment”); and (b) if, as a result of receiving such Parachute Payment, the aggregate after-tax amounts the Employee
is entitled to receive from the Company under all Other Agreements and all Benefit Arrangements would be less than the maximum after-tax amount that could be received by the Employee without causing any such payment or benefit to be considered a
Parachute Payment. The Company will accomplish such reduction in a manner to be mutually agreed with, and most beneficial for, the Employee. The foregoing shall not be interpreted so as to restrict, reduce, amend or modify any of the existing terms
and provisions of any 280G Agreement to which the Employee and the Company may be a party, and any payment hereunder shall be entitled to the benefits thereof. 

12. Severability. If any provision of this Agreement is determined by a court of competent jurisdiction to be unenforceable,
such determination shall not affect the remaining provisions of this Agreement, which shall be enforced to the maximum extent permitted under applicable law. 

13. Modification. Subject to the provisions of the Plan, this Agreement may be modified only in writing pursuant to an agreement
by and between the Company and the Employee. 
 14. Headings. The headings contained herein are for convenience of reference
only and shall not be construed by any party as having any substantive significance. 
 15. Clawback. Notwithstanding any
other provisions in this Agreement, this Award is subject to recovery under any current or future law, government regulation or stock exchange listing requirement, and is subject to such deductions and clawback as may be required to be made pursuant
to such law, government regulation or stock exchange listing requirement (or any policy adopted by the Company at any time pursuant to any such law, government regulation or stock exchange listing requirement). 

16. Section 409A of the Code. It is intended that all payments under this Agreement qualify as short-term deferrals exempt
from the requirements of Section 409A of the Code. In the event that any payment hereunder does not qualify for treatment as an exempt short-term deferral, it is intended that such payment shall be paid in a manner that satisfies the
requirements of Section 409A of the Code. This Agreement shall be interpreted and construed accordingly. 
 17. Execution and
Counterparts. This Agreement shall be deemed executed and delivered by the parties upon the execution of the individual Award Certificate issued to the Employee in connection herewith, which Award Certificate shall be executed by an
authorized officer of the Company and may be executed in any number of counterparts, each of which shall be deemed an original, and shall be effective when a counterpart thereof has been received from both parties.EX-10.1

 Exhibit 10.1 
  

April 4, 2016 
 Denmar J. Dixon 

1915 Craigmore Drive 
 Charlotte, NC 28226 

Dear Denmar: 
 We are pleased that you have accepted the position
of Chief Executive Officer and President, and will remain Vice Chairman of the Board of Directors of Walter Investment Management Corp. (the “Company”). This letter (the “Agreement”) is intended to set forth the terms and
conditions of your employment with the Company. This Agreement shall be effective retroactively to November 1, 2015, for purposes of your compensation (the “Effective Date”). The term of this Agreement (the “Term”) shall
continue until the close of business on December 31, 2016. Thereafter, the Term shall automatically extend annually for one year terms unless and until terminated as provided herein. All capitalized terms that are not defined herein are defined
in Appendix 1 hereto. 
 1. As Vice Chairman and Chief Executive Officer and President of the Company, you shall report to and serve at the direction of the
Board of Directors of the Company. In your capacity as Vice Chairman of the Board of Directors you will serve as a member of the Company’s Board of Directors and as Chief Executive Officer and President, you will be responsible for directing
all aspects of the business of the Company. 
 2. Your compensation package will be as follows: 

(a) Base Salary 
 Your Base Salary will be
$575,000 per year which shall be subject to annual review and increase (but not decrease) by the Compensation Committee and paid in accordance with the payroll practices of the Company, as they may change from time to time. 

(b) Bonus 
 Your annual target bonus for 2016
will be $1,200,000; provided, however, that the actual amount of your bonus will be dependent upon the achievement of the Company’s annual financial and other goals consistent with those established for other members of executive management, as
well as the accomplishment of individual objectives, established annually by the Board of Directors (the actual bonus awarded to you for any given year, which may be greater or less than your target bonus is referred to herein as your “Annual
Bonus” for that year). Except as provided in sections 6(a), (b), and (d), below to receive a bonus you must be employed through the end of the year for which the bonus is payable (the “Bonus Year”). The bonus for a Bonus Year will be
payable to you during the next following year (the “Bonus Payment Year”) immediately upon the closing of the Company’s books for the Bonus Year, but not later than March 14 of the Bonus Payment Year (the date of payment being the
“Bonus Payment Date”). 

 (c) Benefits 

(i) You will be entitled to receive from the Company prompt reimbursement for all reasonable out-of-pocket business expenses incurred by you
in the performance of your duties hereunder, in accordance with the most favorable policies, practices and procedures of the Company relating to reimbursement of business expenses incurred by Company directors, officers or employees in effect at any
time during the 12 month period preceding the date you incur the expenses; provided, however, that any such expense reimbursement will be made no later than the last day of the calendar year following the calendar year in which you incur the
expense, will not affect the expenses eligible for reimbursement in any other calendar year, and cannot be liquidated or exchanged for any other benefit. 

(ii) Participation in the Company’s group life and health insurance benefit programs generally applicable to executives in Tampa and in
accordance with their terms, as they may change from time to time. 
 (iii) Participation in the Company’s retirement plan, generally
applicable to salaried employees in Tampa as it may change from time to time and in accordance with its terms. Your eligibility to participate will be consistent with the requirements of ERISA. 

(iv) Participation in the Company’s long-term incentive plan(s) in effect from time to time. For 2016, your annual long-term incentive
opportunity will have a targeted economic value equal to $4,225,000. Thereafter, the annual economic value shall be determined by the Compensation Committee. In all case, the components of any award and the methodology for determining the economic
value shall be as provided in the plan(s) or otherwise as determined by the Compensation Committee in its discretion, provided that the components shall be generally consistent with awards provided to other similarly-situated senior executives and a
generally accepted valuation method shall be used in good faith. Notwithstanding the foregoing, any award agreements shall be consistent with the terms and conditions of this Agreement (to the extent not inconsistent with applicable law). In
particular, with respect to the award of annual grants any such grants will (a) vest and settle (as applicable) over a period that is no longer than one-third per year for three years, (b) option grants will have a minimum 10-year term and
exercise period (irrespective of when your employment with the Company may end) and (c) upon your death, Disability, Involuntary Termination other than for Cause, Constructive Termination, Retirement, or upon a Change of Control, vesting and
settlement (as applicable) will accelerate. Subject to the foregoing, the specific terms of your annual long-term incentive opportunity will be mutually agreed upon and set forth in separate grant agreements. Notwithstanding the above, your 2016
long-term incentive opportunity shall not be required to vest and settle (as applicable) over a period that is no longer than one-third per year for three years; however, the terms of such long-term opportunity shall be consistent with those offered
to other Named Executive Officers of the Company. 
 (v) 30 days of annual vacation to be used each year, without carryover of unused
vacation days, and in accordance with the Company’s vacation policy, as it may change from time to time. 

  
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 (vi) You will receive a monthly auto allowance of $1,500, subject to the usual withholding taxes.

 (vii) Your Benefits under this Agreement, including grants to you under the Company’s long-term incentive plan(s), will be subject
to periodic review and increase by the Compensation Committee. 
 (d) Recapitalization 

Any equity award agreement will provide that in the event of any change in the capitalization of the Company such as a stock spilt or a corporate transaction
such as a merger, consolidation, separation or otherwise, the number and class of restricted stock units or options, as the case may be, shall be equitably adjusted by the Company’s Compensation and Human Resources Committee, in its sole
discretion, to prevent dilution or enlargement of rights. 
 3. It is agreed and understood that your employment with the Company is to be at will, and
either you or the Company may terminate the employment relationship at any time for any reason, with or without cause, and with or without notice to the other; nothing herein or elsewhere constitutes or shall be construed as a commitment to employ
you for any period of time. 
 4. You agree that all inventions, improvements, trade secrets, reports, manuals, computer programs, systems, tapes and other
ideas and materials developed or invented by you during the period of your employment with the Company, either solely or in collaboration with others, which relate to the actual or anticipated business or research of the Company, which result from
or are suggested by any work you may do for the Company, or which result from use of the Company’s premises or the Company’s or its customers’ property (collectively, the “Developments”) shall be the sole and exclusive
property of the Company. You hereby assign to the Company your entire right and interest in any such Developments, and will hereafter execute any documents in connection therewith that the Company may reasonably request. 

5. As an inducement to the Company to make this offer to you, you represent and warrant that you are not a party to any agreement or obligation for personal
services, and there exists no impediment or restraint, contractual or otherwise on your power, right or ability to accept this offer and to perform the duties and obligations specified herein. 

6. In the event of a termination or cessation of your employment with the Company for any reason, the sole rights and obligations of the Company in connection
with your termination shall be those provided under the relevant provision below. 
 (a) In the event of your death or Retirement during the
Term, the Company will pay to you, your beneficiaries or your estate, as the case may be, as soon as practicable after your death or Retirement (with the exception of subsection (iii) below which will be paid in the Bonus Payment Year),
(i) the unpaid Base Salary through the date of your death or Retirement, plus payment of any bonus amount payable to you in respect of any bonus period ended prior to your termination of employment (collectively, the “Compensation
Payments”), (ii) for any accrued but unused vacation days, to the extent and in the amounts, if any, provided under the Company’s usual policies and arrangements (the “Vacation Payment”), and (iii) the Annual

  
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Bonus in respect of the fiscal year in which your termination occurs (which shall be in an amount that is consistent with other Company executives of your level, multiplied by (x) the number
of days that you were employed by the Company prior to your termination during such fiscal year, divided by (y) 365 (the “Prorated Bonus”). 

(b) In the event you suffer a Disability the Company may terminate your employment on written notice thereof, and the Company will pay you
(i) amounts payable pursuant to the terms of any applicable disability insurance policy or similar arrangement (if any) that the Company maintains, (ii) the Compensation Payments, (iii) the Vacation Payment and (iv) the Prorated
Bonus. 
 (c) In the event your employment is terminated by the Company for Cause or by you other than as a result of Constructive
Termination, Disability, Retirement, or death, the Company will pay to you (i) unpaid Base Salary through the date of your termination, plus (ii) the Vacation Payment, and you will be entitled to no other compensation, except as otherwise
due to you under applicable law or the terms of any applicable plan or program. You will not be entitled, among other things, to the payment of any unpaid bonus payments in respect of any period prior to your termination of employment. 

(d) In the event you are subjected to Involuntary Termination other than for Cause, Disability or death, or you terminate your employment as a
result of Constructive Termination, the Company will (i) pay to you the Compensation Payments, the Vacation Payment, and the Prorated Bonus, (ii) subject to your compliance with Section 6(g) below, continue to pay your Base Salary
then in effect and Annual Bonus (which shall be in amounts that are consistent with other Company executives of your level provided each such annual bonus shall be, prior to any proration for partial years, an amount that is at least equal to your
annual target bonus amount for 2016 set forth above), for a period of 18 months after your termination, paid in the same periodic installments as such Base Salary, and during the same Bonus Payment Year (as the case may be) as you would have been
paid had you remained on the Company’s ordinary payroll during such period; and (iii) pay you each month an amount equal to, the premiums for you to continue your and your dependents’ health and dental coverage under the plans
sponsored by the Company pursuant to COBRA (for the avoidance of doubt, this amount will be taxable to you) until the earlier of the 18-month anniversary of the termination date or until you are eligible to receive comparable benefits from
subsequent employment or government assistance. For purposes of clarification, the period of the foregoing severance for salary, bonus and benefits shall be 18 months regardless of how much time remains in the then current Term of this Agreement. In
other words, there shall be no adjustment, up or down, to the amount of severance regardless of the amount of time remaining in the then current Term at the time of termination. Moreover, you will remain entitled to the foregoing severance
notwithstanding the Company’s failure to extend any Term beyond its expiration date. Regarding your Annual Bonus, by way of example, should you be terminated on June 30, 2016, you will be paid the Prorated Bonus (at target) for the year in
which you were terminated (which is equal to the Annual Bonus for such year, measured at target, prorated for the period from January 1, 2016 through June 30, 2016), plus the balance of the Bonus for 2016 measured at least at target (i.e.,
the Annual Bonus for the first six months of your 18 month severance period), plus the full Annual Bonus for 2017 which shall be equal to your annual target bonus amount for 2016 set forth above (i.e., the Annual Bonus for the remaining 12 months of
the 18 month severance period). Payment of the foregoing severance is 

  
 4 

 
subject to your execution, delivery and non-revocation of the release attached hereto as Appendix 2 within thirty (30) days following the termination of your employment, and your
resignation, effective as of the date of your termination of employment, as an officer and/or director of the Company or any of its subsidiaries or affiliates. The amount of expenses eligible for reimbursement, or in-kind benefits provided, during a
calendar year may not affect the expenses eligible for reimbursement, or the in-kind benefits to be provided, in any other calendar year. Your right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit.
Payment will be provided only if the filing of the claim for payment and completion of the reimbursement payment can reasonably be completed by the end of the calendar year following the year in which the expense is incurred. In order to be entitled
to the foregoing in the event of Constructive Termination you must provide written notice, including details describing the basis of your claim, to the Company within 60 days of the occurrence of the event(s) giving rise to a claim of Constructive
Termination and the Company will have 30 days to remedy any non-compliance. In the event the Company fails or is unable to remedy any non-compliance, the effective date of your termination of employment shall be 90 days from the date the Company
received notice, unless otherwise agreed by you and the Company. Should you fail to provide the foregoing notice, you will thereafter be barred from receiving severance benefits based upon the events giving rise to the claim. 

(e) Treatment of Grants of Equity — Any grants of equity that you may receive subsequent to the date of this Agreement, and the
disposition of such awards in the event of the occurrence of any of the circumstances set forth in subsections (a) — (d) above, shall be subject to the terms and conditions of the plan(s) or program(s) under which the awards are
granted; provided, however, any such awards will provide that, in the event of termination pursuant to (i) subsections (a), (b) or (d) above, all outstanding equity awards will immediately vest and settle (as applicable), or
(ii) subsection (c) above, all unvested awards will be forfeited. 
 (f) To be entitled to severance benefits under this
Section 6 you must terminate employment from the Company. For this purpose, your termination of employment must be considered a “separation from service” within the meaning of Code §409A(a)(2)(A)(i) and any guidance or
regulations issued thereunder. For the avoidance of doubt, if you provide transition services pursuant to the next subsection and such services result in your “separation from service” not occurring until the end of the ninety day period
referenced in that section, then your severance benefits will begin upon the end of such period (subject to Section 10 (Tax Compliance Delay in Payment) below). 

(g) To the extent that you are entitled to payment pursuant to Section 6(d)(ii), you agree to provide transition services, if so
requested by the Company for a period of ninety days after your Involuntary Termination other than for Cause or Constructive Termination, not to exceed 30 hours per week, at your then current salary. You agree to use your reasonable best efforts to
supply such services at mutually agreeable times. Any amount paid pursuant to this Section 6(g) shall be in addition to amounts paid pursuant to other provisions of this Agreement. 

(h) In the event you are subjected to Involuntary Termination other than for Cause, Disability or death, or you terminate your employment as a
result of Constructive Termination, you may elect to settle any long-term incentive granted subsequent to the date of this Agreement for cash at 50% of the value of such long-term incentive, instead of such long-term incentive

  
 5 

 
continuing to vest. In such an event, you must notify the Company in writing within seven days of your termination and execute all documentation reasonably requested by the Company to reflect
your waiver of any future claims and rights to such long-term incentive. 
 7. Non-Compete. It is understood and agreed that you will have substantial
relationships with specific businesses and personnel, prospective and existing, vendors, contractors, customers, and employees of the Company that result in the creation of customer goodwill. Therefore, following the termination of employment under
this Agreement for any reason and continuing for a period of eighteen (18) months from the date of such termination, so long as the Company or any subsidiary, affiliate, successor or assigns thereof is in the residential real estate mortgage
servicing or originations business (the “Restricted Area”), unless the Board of Directors approves an exception, you shall not, directly or indirectly, for yourself or on behalf of, or in conjunction with, any other person, persons,
company, partnership, corporation, business entity or otherwise: 
 (a) Call upon, solicit, write, direct, divert, influence, or accept
residential real estate mortgage servicing or originations business (either directly or indirectly) with respect to any account or customer or prospective customer of the Company or any corporation controlling, controlled by, under common control
with, or otherwise related to the Company, including but not limited to Walter Investment Management Corp. or any other affiliated companies; or 

(b) Hire away any independent contractors or personnel of the Company and/or entice any such persons to leave the employ of the Company or its
affiliated entities without the prior written consent of the Company. 
 8. Non-Disparagement. Following the termination of employment under this Agreement
for any reason and continuing for so long as the Company or any affiliate, successor or assigns thereof carries on the name or like business within the Restricted Area, neither you nor the Company shall, directly or indirectly, for yourself or
itself, or on behalf of, or in conjunction with, any other person, persons, company, partnership, corporation, business entity or otherwise: 

(a) Make any statements or announcements or permit anyone to make any public statements or announcements concerning your termination with the
Company, or 
 (b) Make any statements that are inflammatory, detrimental, slanderous, or negative in any way to the interests of you or the
Company or its affiliated entities as the case may be. 
 (c) Nothing in this section shall prevent either party from testifying or
responding truthfully to any request for discovery or testimony in any judicial or quasi-judicial proceeding or any government inquiry, investigation or other proceeding. 

9. You acknowledge and agree that you will respect and safeguard the Company’s property, trade secrets and confidential information. You acknowledge that
the Company’s electronic communication systems (such as email and voicemail) are maintained to assist in the conduct of the Company’s business and that such systems and data exchanged or stored thereon are Company property. In the event
that you leave the employ of the Company, you will not disclose any Company trade secrets or confidential information you acquired while an employee of the Company to any other person or entity, including without limitation, a subsequent employer,
or 

  
 6 

 
use such information in any manner. Nothing in this section shall prevent you from testifying or responding truthfully to any request for discovery or testimony in any judicial or quasi-judicial
proceeding or any government inquiry, investigation or other proceeding. 
 10. Tax Compliance Delay in Payment. If the Company reasonably determines that
any payment or benefit due under this Agreement, or any other amount that may become due to you after termination of employment, is subject to Section 409A of the Code, and also determines that you are a “specified employee,” as
defined in Section 409A(a)(2)(B)(i) of the Code, upon your termination of employment for any reason other than death (whether by resignation or otherwise), no amount may be paid to you or on your behalf earlier than six months after the date of
your termination of employment (or, if earlier, your death) if such payment would violate the provisions of Section 409A of the Code and the regulations issued thereunder, and payment shall be made, or commence to be made, as the case may be,
on the date that is six months and one day after your termination of employment (or, if earlier, one day after your death). For this purpose, you will be considered a “specified employee” if you are employed by an employer that has its
stock publicly traded on an established securities market or certain related entities have their stock traded on an established securities market and you are a “key employee”, with the exact meaning of “specified employee”,
“key employee” and “publicly traded” defined in Section 409A(a)(2)(B)(i) of the Code and the regulations thereunder. Notwithstanding the above, the Company hereby retains discretion to make determinations regarding the
identification of “specified employees” and to take any necessary corporate action in connection with such determination. 
 11. You acknowledge
and agree that you have read this letter agreement carefully, have been advised by the Company to consult with an attorney regarding its contents, and that you fully understand the same. 

12. It is agreed and understood that this acceptance letter shall constitute our entire agreement with respect to the subject matter hereof and shall
supersede all prior agreements, discussions, understandings and proposals (written or oral) relating to your employment with the Company. This letter agreement will be interpreted under and in accordance with the laws of the State of Florida without
regard to conflicts of laws. The parties hereto shall resolve any dispute over the terms and conditions or application of this Agreement through binding arbitration pursuant to the rules of the American Arbitration Association (“AAA”). The
arbitration will be heard by one arbitrator to be chosen as provided by the rules of the AAA and shall be held in Tampa, Florida. If you prevail in the dispute, the Company will pay your reasonable fees and costs in connection with the matter
(including attorneys fees). Whether you have prevailed or not shall be determined by the arbitrator, or if the arbitrator declines to determine whether or not you have prevailed, you will be deemed to have prevailed if, in the case of monetary
damages you receive in excess of 50% of what you demanded. In the event the Company terminates you for Cause and it is determined by the arbitrator that such termination was an Involuntary Termination other than for Cause, you will be entitled to
the benefits set forth in Section 6(d), upon your execution and delivery of a Release in the form attached as Appendix 2. Notwithstanding the foregoing, in the event of a breach or threatened breach of the provisions of sections 7-9, the party
that is in breach or in threatened breach acknowledges and agrees that the other party will suffer irreparable harm that is not subject to being cured with monetary damages and that the Company shall be entitled to injunctive relief in a state court
of the State of Florida. 

  
 7 

 13. You and the Company intend that payments and benefits under this Agreement comply with Code Section 409A
and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. In the event that any
provision of this Agreement is determined by you or the Company to not comply with Code Section 409A, the Company shall fully cooperate with you to reform the Agreement to correct such noncompliance to the extent permitted under any guidance,
procedure, or other method promulgated by the Internal Revenue Service now or in the future that provides for such correction as a means to avoid or mitigate any taxes, interest, or penalties that would otherwise be incurred by you on account of
such non-compliance. 
 THE BALANCE OF THIS PAGE IS LEFT INTENTIONALLY BLANK 

  
 8 

 If the terms contained within this letter are acceptable, please sign one of the enclosed copies and return it to
me in the envelope provided and retain one copy for your records. 
 Very truly yours, 

WALTER INVESTMENT MANAGEMENT CORP. 
 By: /s/ Jonathan
F. Pedersen                 
 Its: General
Counsel                             

ACCEPTANCE 
 I have read the foregoing, have been advised to
consult with counsel of my choice concerning the same, and I fully understand the same. I approve and accept the terms set forth above as governing my employment relationship with the Company. 

Signature:                     /s/ Denmar J.
Dixon                                        
            Date             4/4/2016             

                          
          Denmar J. Dixon 

  
 9 

 APPENDIX 1 

DEFINITIONS 
 “AAA” shall have
the meaning set forth in Section 12 of this Agreement. 
 “Agreement” shall have the meaning set forth in the introductory paragraph to this
Agreement. 
 “Annual Bonus” shall have the meaning set forth in Section 2(b) of this Agreement. 

“Base Salary” shall have the meaning set forth in Section 2(a) of this Agreement. 

“Bonus Payment Date” shall have the meaning set forth in Section 2(b) of this Agreement. 

“Bonus Payment Year” shall have the meaning set forth in Section 2(b) of this Agreement. 

“Bonus Year” shall have the meaning set forth in Section 2(b) of this Agreement. 

“Cause” shall mean (A) conviction of, or plea of guilty or nolo contendere to, a felony arising from any act of fraud, embezzlement or willful
dishonesty in relation to the business or affairs of the Company, or (B) conviction of, or plea of guilty or nolo contendere to, any other felony which is materially injurious to the Company or its reputation or which compromises your ability
to perform your job function, and/or act as a representative of the Company, or (C) a willful failure to attempt to substantially perform your duties (other than any such failure resulting from your Disability), after a written demand for
substantial performance is delivered to the you that specifically identifies the manner in which the Company believes that you have not attempted to substantially perform such duties, and you have failed to remedy the situation, to the extent
possible, within fifteen (15) business days of such written notice from the Company or such longer time as may be reasonably required to remedy the situation, but no longer than forty-five (45) calendar days. For purposes of this
definition, no act or failure to act on your part shall be considered to be Cause if done, or omitted to be done, by you in good faith and with the reasonable belief that the action or omission was in the best interests of, or were not, in fact,
materially detrimental to, the Company or a Company subsidiary. The decision to terminate your employment for Cause, to take other action or to take no action in response to such occurrence shall be in the sole and exclusive discretion of the Board
of Directors (provided, for the avoidance of doubt, that this sentence does not prevent you from being able to institute an arbitral proceeding to challenge whether Cause in fact exists pursuant to Section 12). If the Board of Directors
terminates your employment for Cause, the Company shall deliver written notice of such termination to you, which notice shall include the factual basis for your termination, and such termination shall be effective immediately upon service of such
written notice. 
 “Change of Control” shall mean a change of ownership of the Company, a change in the effective control of the Company, or a
change in the ownership of a substantial portion of the assets of the Company within the meaning of Treas. Reg. 1.409A-3(i)(5). 
 “Code
Section 409(A) shall have the meaning set forth in Section 13 of this Agreement. 

  
 10 

 “Company” shall have the meaning set forth in the introductory paragraph to this Agreement. 

“Compensation Committee” shall mean the Compensation and Human Resources Committee of Walter Investment Management Corp. 

“Compensation Payment” shall have the meaning set forth in Section 6(a) of this Agreement. 

“Constructive Termination” shall mean, without your written consent: (a) a material failure of the Company to comply with the provisions of
this agreement, (b) a material diminution of your position (including status, offices, title and reporting relationships), duties or responsibilities or pay, (c) any purported termination of your employment other than for Cause, or
(d) the forced relocation of your primary job location more than 50 miles from the Company’s Tampa, Florida location; provided however, that any isolated, insubstantial or inadvertent change, condition, failure or breach described under
subsections (a) — (d) above which is not taken in bad faith and is remedied by the Company promptly after the Company’s actual receipt of notice from you as provided in section 6(d) shall not constitute Constructive Termination.
For purposes of this Agreement, a material diminution in pay or responsibility shall not be deemed to have occurred if: (i) the amount of your bonus fluctuates due to performance considerations under the Company’s executive incentive plan
or other Company incentive plan applicable to you and in effect from time to time or (ii) you experience a reduction in salary that is relatively comparable to reductions imposed upon all senior executives in the Company. To be entitled to
severance benefits on the basis of Constructive Termination the event causing Constructive Termination must not be implemented for the purpose of avoiding the restrictions of the Code Section 409A restrictions. 

“Developments” shall have the meaning set forth in Section 4 of this Agreement. 

“Disability” shall mean (a) your inability or failure to perform your duties hereunder for a period of ninety (90) consecutive days or a
total of one hundred twenty (120) days during any twelve (12) month period due to any physical or mental illness or impairment, or (b) a determination by a medical doctor chosen by the Company to the effect that you are substantially
unable to perform your duties hereunder due to any physical or mental illness or impairment. 
 “Effective Date” shall have the meaning set forth
in the introductory paragraph to this Agreement. 
 “Involuntary Termination” shall mean your termination from employment due to the independent
exercise of unilateral authority by Company to terminate your services, other than due to your implicit or explicit request, where you are willing and able to continue performing services. The determination of whether a termination of employment is
involuntary is based on all the facts and circumstances. Any reference in this Agreement to “termination of employment” shall mean “separation from service” within the meaning of Treas. Reg. 1.409A-1(h). 

“Prorated Bonus” shall have the meaning set forth in Section 6(a) of this Agreement. 

“Restricted Area” shall have the meaning set forth in Section 7 of this Agreement. 

  
 11 

 “Retirement” shall mean, your voluntary termination of employment after such time as either, you have
reached the age of 60, or the sum of your age and years of service with the Company exceeds 70; provided that, in either case, you provide the Company with at least 6 months written notice of your intention to retire, or such lesser time as the
Company may agree. For purposes of this definition, your years of service shall include years served with any predecessor or successor companies to the Company. 

“Term” shall have the meaning set forth in the introductory paragraph to this Agreement. 

“Vacation Payment” shall have the meaning set forth in Section 6(a) of this Agreement. 

  
 12 

 APPENDIX 2 

SEPARATION AGREEMENT 

AND GENERAL RELEASE OF CLAIMS 
 This
Separation Agreement and General Release of Claims (“Release”) is entered into by and between Walter Investment Management Corp., and its subsidiaries, predecessors, successors, assigns, affiliates, insurers and related entities,
(hereinafter collectively referred to as “Employer”) and Denmar J. Dixon (hereinafter “Employee”). In consideration for the mutual promises set forth below, Employer and Employee agree as follows: 

 

	1.	Employer and Employee are parties to a contract of employment (“Employment Contract”) to which this Release has been attached and incorporated by reference. Employee’s employment with Employer has been
terminated and, pursuant to the terms of the Employment Contract, Employee must execute this Release in order to receive the severance set forth in the Employment Contract. 

 

	2.	In consideration for the promises and covenants set forth in the Employment Contract and this Release, including, specifically but without limitation, the general release set forth in paragraph 3 below, Employee will be
paid the amounts described in Section 6(d) in section 6 of the Employment Contract. Payments to Employee will be made at such times as are set forth in the Employment Contract. 

 

	3.	Employee agrees, on behalf of himself, and his heirs, successors in interest and assigns that, except as specifically provided herein, Employee will not file, or cause to be filed, any charges, lawsuits, or other
actions of any kind in any forum against Employer and/or its officers, directors, employees, agents, successors and assigns and does hereby further release and discharge Employer and its officers, directors, employees, agents, successors and assigns
from any and all claims, causes of action, rights, demands, and obligations of whatever nature kind or character arising on or before the date of this Release which Employee may have, known or unknown, against them (including those seeking equitable
relief) alleging, without limitation, breach of contract or any tort, legal actions under title VII of the Civil Rights Act of 1964, as amended, Section 1981 of the Civil Rights Act of 1966, as amended, the Rehabilitation Act of 1973, as
amended, the Employee Retirement Income Security Act of 1974, as amended, the Fair Labor Standards Act of 1938, as amended, the Age Discrimination in Employment Act of 1967, as amended, (the “ADEA”) (except to the extent claims under the
ADEA arise after the date on which this Release is signed by Employee), the Americans with Disability Act, the Civil Rights Act of 1991, or any State, Federal, or local law concerning age, race, religion, national origin, handicap, or any other form
of discrimination, or any other State, Federal, or common law or regulation relating in any way to, Employee’s employment with the Company or Employee’s separation from the Company, except claims arising in connection with rights and
obligations under this Release or as specifically provided in paragraph 4 or 6 below. Employee further agrees to waive and release any claim for damages occurring at any time after the date of this Release because of any alleged continuing effect of
any alleged acts or omissions involving Employee and/or Employer which occurred on or before the date of this Release. 

  
 13 

	4.	Notwithstanding anything contained in this Release to the contrary, the general release set forth in paragraph 3 shall not apply to any claims under any equity, option or other Employer incentive plan or award, which
shall be governed by the terms and conditions of such plan(s) or award (and which plan(s) or award shall not be inconsistent with the applicable terms in the Employment Contract); nor shall it affect any rights or obligations that Employee or
Employer may have pursuant to the Indemnification Agreement entered into between Employee and Employer as of April 17, 2009. 

  

	5.	This Release shall not in any way be construed as an admission by Employer or Employee that they have acted wrongfully with respect to each other or that one party has any rights whatsoever against the other or the
other released parties. 

  

	6.	Employee and Employer specifically acknowledge the following: 

  

	 	a.	Employee does not release or waive any right or claim which Employee may have which arises after the date of this Release. 

  

	 	b.	In exchange for this general release, Employee acknowledges that Employee has received separate consideration beyond that which Employee is otherwise entitled to under Employer’s policy or applicable law.

  

	 	c.	Employee is releasing, among other rights, all claims and rights under the Age Discrimination in Employment Act (“ADEA”) and the Older Workers’ Benefit Protection Act (“OWBPA”), 29 U.S.C.
§621, et seq. 

  

	 	d.	Employee has twenty-one (21) days to consider this Release. 

  

	 	e.	Employee has seven (7) days to revoke this Release after acceptance. However, no consideration will be paid until after the revocation of the acceptance period has expired. Additionally, for the revocation to be
effective, Employee must give written notice of Employee’s revocation to Employer’s General Counsel. 

  

	 	f.	Employee will resign as an officer and/or director of the Company or any of its affiliates or subsidiaries. 

  

	7.	Should Employee breach any provision of this Release, the Employer’s obligation to continue to pay the consideration set forth herein shall cease and Employer shall have no further obligation to Employee. All other
terms and conditions of this Release, including, but not limited to, the general release in paragraph 3 shall remain in full force and effect. Should Employer breach any provision of this Release, the Employee’s obligations hereunder shall
cease and Employee shall have no further obligations pursuant to this Release. 

  

	8.	Employer and Employee agree that in the event it becomes necessary to enforce any provision of this Release, the prevailing party in such action shall be entitled to recover all their costs and attorneys’ fees,
including those associated with appeals. 

  
 14 

	9.	This Release shall be binding upon Employer, Employee and upon Employee’s heirs, administrators, representatives, executors, successors and assigns, and shall inure to the benefit of Employer and the other released
parties and their successors and assigns. 

  

	10.	Employee and Employer acknowledge that this Release and the Employment Contract shall be considered as one document and that, except as set forth herein and therein, including without limitation the provisions of
paragraphs 4 and 6 of this Release, any and all prior understandings and agreements between the parties to this Release with respect to the subject matter of this Release and/or the Employment Contract are merged into the Employment Contract and
this Release, which fully and completely expresses the entire understanding of the parties with respect to the subject matter hereof and thereof. 

  

	11.	Should any provision of this Release be declared or be determined by any Court to be illegal or invalid, the validity of the remaining parts, terms or provisions shall not be affected thereby and said illegal or invalid
part, term or provision shall be deemed not to be a part of this Release. 

  

	12.	This Release may be executed in one or more counterparts, each of which shall be deemed an original and all of which shall constitute one and the same instrument. 

 

									
	DENMAR J. DIXON	 		 	 WALTER INVESTMENT

MANAGEMENT CORP.

				
	  
	 		 	By:	 	 
					
	Date:	 	  
	 		 	Title:	 	  

					
		 		 		 	Date:	 	  

  
 15

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