Document:

Exhibit 10

                 

                
                

                

                 

                
                BUILDER AGREEMENT
                 

                 

                For
                good and valuable consideration the Builder/Title Conveyer
                (“BUILDER”) named
                below, upon acceptance by Lux Residential Warranty Program Inc,
                (“LRWP”) into its
                New Home Limited Warranty Program
                (“PROGRAM”) hereby
                agrees to comply with the provisions of this agreement as set forth in Schedule
                “A” hereto. This agreement together with its Schedule shall constitute
                a binding and enforceable relationship between the
                BUILDER and
                LRWP. This
                BUILDER registration is not
                transferable either directly or indirectly.

                 

                
                BUILDER OR TITLE CONVEYNOR TO PURCHASER:

                 

                
                __________________________________________________ (Hereinafter
                referred to as
                BUILDER.)

                
                NAME

                 

                
                _________________________________________________________________________________

                
                    	
                                
                                FULL ADDRESS

                            	
                                
                                PROVINCE

                            	
                                
                                POSTAL CODE

                            

                

                 

                
                

                
                

                
                    	
                                
                                 

                                
                                 

                                
                                LRWP BUILDER

                                
                                STANDS FOR QUALITY. YOUR PURCHASER SERVICE RECORD
                                IS IMPORTANT TO US.

                                
                                 

                                
                                 

                            

                

                 

                 

                
                DEDICATED TO UPGRADING THE INDUSTRY AND IMPROVING PURCHASER
                CONFIDENCE

                

                

                

                
                DEFINITIONS OF TERMS USED HEREIN

                 

                
                    	
                                
                                 

                            	
                                
                                •

                            	
                                
                                “BUILDER
                                ” shall mean a Builder enrolled under the
                                LRWP

                            

                

                
                    	
                                
                                 

                            	
                                
                                •

                            	
                                
                                “LRWP
                                ” shall mean the Lux Residential Warranty
                                Program as set out in its Brochure called New Home Warranty Program
                                as published at
                                www.luxrwp.com

                            

                

                
                    	
                                
                                 

                            	
                                
                                •

                            	
                                
                                “PROGRAM
                                ” shall mean the LRWP Program

                            

                

                
                    	
                                
                                 

                            	
                                
                                •

                            	
                                
                                “HOME ”
                                shall mean a home built by a Builder registered under the LRWP and
                                listed with the LRWP

                                
                                 

                            

                

                
                REGISTRATION AND AGREEMENT
                 

                 

                
                • Any information submitted by the
                BUILDER under the
                PROGRAM is warranted as true and
                accurate as of the date of an application under the
                PROGRAM.

                
                • BUILDER
                will only enroll HOMES
                in the PROGRAM
                constructed in accordance with
                LRWP standards.

                
                • BUILDER
                agrees to abide by all registration requirements, inspection,
                deficiencies, pre-closing orientation inspections, premium payments, fees and costs
                that may be part of the PROGRAM
                from time to time. BUILDER
                agrees to complete any and all “Punch Out” items agreed
                to in writing. BUILDER agrees to
                carry Commercial General Liability insurance that includes Completed Operations
                coverage with a Limit Liability of no less than $5,000,000.00, with Lux Residential
                Warranty Program Inc added as an insured.
                BUILDER warrants that all architects
                and engineers retained in connection with the construction of a
                HOME have comprehensive Errors and
                Omissions Insurance in effect with a Liability Limit of no less than $5,000,000.00
                per occurrence.

                
                • LRWP, may
                in its sole and unfettered discretion accept or reject any or all
                HOMES constructed by the
                BUILDER and submitted for inclusion
                under LRWP Warranty and
                the PROGRAM.

                
                • The
                BUILDER cannot seek reimbursement
                of PROGRAM warranty fees from a
                Purchaser.

                
                    	
                                
                                 

                            	
                                
                                •

                            	
                                
                                This Builder
                                registration in the
                                Program is not
                                transferable.

                            

                

                
                ENROLLMENT  

                 

                
                BUILDER agrees to indemnify and
                save LRWP harmless from any and
                all damage loss or cost that may result under the
                PROGRAM. Should
                BUILDER fail to enroll a
                HOME in the
                PROGRAM which later becomes subject to
                a claim or defect under the
                PROGRAM.

                
                AGREEMENT ENFORCEMENT
                 

                 

                
                This Agreement shall be governed by, and constructed in accordance
                with the laws of the Province of Ontario, Canada.

                

                

                

                
                RELATIONSHIP  

                 

                
                This Agreement shall not constitute or be considered a partnership,
                employer-employee relationship, joint venture, or agency between a
                BUILDER and
                LRWP. Neither party, nor any of their
                employees or agents, shall have the authority to bind or obligate the other party
                except as provided by this Agreement.

                 

                
                INVESTIGATION  

                 

                
                BUILDER enrollment in the
                LRWP, constitutes a de facto
                authorization by BUILDER of any
                investigation by LRWP of
                the BUILDER'S activities and
                financial condition. LRWP may
                commence any such investigation at any time without notice to the
                BUILDER in order to determine that
                a BUILDER is in compliance with
                the technical competence and financial standards established by
                LRWP from time to time.

                
                BUILDER DEFAULT
                 

                 

                
                Should BUILDER be
                in default or fail to comply with any term of this Agreement,
                LRWP in its absolute discretion may
                terminate the Agreement without notice.

                
                DISPUTE SETTLEMENT
                 

                 

                
                Should a dispute arise hereunder,
                LRWP may in its absolute discretion
                arrange for conciliation proceedings in order to resolve said dispute. No basic
                charges shall be assessed the BUILDER
                in respect of any such proceeding.
                BUILDER agrees to pay extraordinary
                expenses. All conciliation decisions shall be binding on the
                BUILDER. Should a dispute occur
                between BUILDER and a Purchaser
                that cannot be resolved through conciliation,
                LRWP will arrange for binding third
                party arbitration.

                 

                
                BUILDER agrees to cooperate fully with
                the conciliation or arbitration service including, but not limited to, personally
                being available and making available for all of its employees, subcontractors, and
                design professionals at BUILDERS
                expense.

                 

                
                LRWP may however determine that
                the BUILDER'S customer relations
                issues are so excessive in relation to the
                BUILDERS volume of business that the
                Agreement will be terminated.

                 

                
                REGISTRATION / RE-CERTIFICATION FEES AND
                PREMIUMS  

                 

                
                BUILDER agrees to pay
                LRWP an initial non-refundable
                PROGRAM membership fee as published
                from time to time by LRWP. This
                fee shall include initial enrollment charges for underwriting, inspection and
                approval. Premiums and fees shall include the following:

                

                

                

                 

                
                • Application Fee Shall Be
                Due. Upon execution and submission of
                BUILDERS Application and Agreement
                forms to LRWP.

                
                 

                
                • Home or Unit Registration Fee Shall
                Be Due. Upon completion and acceptance by
                LRWP of Home Registration
                Form.

                
                BUILDING CODES  

                 

                
                BUILDER warrants that all
                HOMES enrolled under
                LRWP will be constructed in accordance
                with local building, electrical, mechanical, and plumbing codes. Subject always to
                extraordinary recommendations of any engineer or architect utilized by
                BUILDER or construction quality
                standards published by LRWP.
                Where standards are not published by LRWP
                they shall be implied to be equal to or exceed local standard
                industry practice. BUILDER
                agrees to notify LRWP
                of any extraordinary design features that
                BUILDER intends to incorporate
                in HOMES to be built under
                the PROGRAM.
                LRWP reserves the right to deny
                inclusion in the PROGRAM of
                any HOME LRWP
                deems to have a defective design.

                 

                
                LRWP has reserved the right to make
                inspections to see that this standard is being upheld.

                 

                
                LRWP reserves the right to inspect at
                three times during the construction of a new home. Usually these inspections are
                performed before backfill, after framing but before drywall, and after completion
                of interior finishing.

                
                WARRANTY OBLIGATIONS
                 

                 

                
                BUILDER will, at its own expense,
                perform all warranty obligations determined to arise under this Agreement.
                BUILDER will do so upon receipt of
                written notice from the Purchaser. In the event that subject defect is not remedied
                to satisfaction of Purchaser, and the Purchaser commences a claim under the
                warranty coverage of the
                PROGRAM,
                LRWP shall have the right to absolute
                indemnification and reimbursement for any and all loss, cost and expense it
                ultimately becomes subject to as third party of a claim lodged against a
                BUILDER and/or its insurance
                carrier.

                 

                
                CERTIFICATION BY BUILDER
                 

                 

                The
                undersigned represents that he/she is authorized to bind the corporation named
                below and is responsible for the subject matters of this Agreement. The corporation
                named below will be deemed the BUILDER
                herein, and as such agrees to perform all obligations of the
                BUILDER herein, including paying all
                fees and premiums in the name place and stead of the
                BUILDER, in respect of
                HOMES registered and included in
                the PROGRAM.

                

                

                

                
                NOTICE OF CONSTRUCTION
                 

                 

                
                BUILDER shall not commence construction
                of a HOME under the
                PROGRAM until such time as the
                BUILDER has provided written notice
                to LRWP of its intention to do
                so and paid all applicable PROGRAM
                fees. Notice must provide full and accurate details as required by
                this Agreement for it to be effective.

                
                TERMINATION OF AGREEMENT
                 

                 

                
                BUILDER or
                LRWP, may terminate this Agreement by
                giving not less than ninety (90) days prior written notice to the other party. Any
                such termination shall be subject to full payment of all outstanding fees and
                obligations hereunder. Any such notice must be given by Registered Mail or hand
                delivered. A signed receipt must be provided in either case. Fax or email notice is
                unacceptable.

                 

                
                IN WITNESS WHEREOF,
                BUILDER has caused this Agreement to be
                executed by its duly authorized and responsible officer or principal this
                _______________day of________________20_____.

                 

                
                Company (type or print)
                ________________________________________

                 

                By
                (print or type) ______________________________________________

                 

                
                Title
                ________________________________________________________

                 

                
                Authorized
                Signature____________________________________________________

                 

                
                ---ACCEPTANCE BY LUX RESIDENTIAL WARRANTY PROGRAM INC.
                ---

                 

                
                ACCEPTED AND APPROVED THIS________DAY
                OF_____________20___.

                 

                

                
                BY________________________________________________________

                
                    	
                                
                                 

                            	
                                
                                AUTHORIZED SIGNATURE

                            	
                                
                                ASOex10-1.htm

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     Exhibit
      10.1

    

    December
      26, 2007

    

    Mr.
      Tracy
      J. Scott

    BNCCORP,
      Inc.

    322
      East
      Main Street

    Bismarck
      ND  58501

    

    Re:           Retirement
      Agreement

    

    Dear
      Tracy:

    

    This
      letter agreement (the “Agreement”) confirms the terms that will govern
      your resignation, by reason of retirement, from your offices and employment
      with
      BNCCORP, Inc. (“BNC,” which for purposes of this Agreement includes all
      of its subsidiaries).

    

    1.  Retirement.
      You and BNC hereby confirm that you will retire effective as of the close of
      business on December 31, 2007 (“Retirement
      Date”).  Accordingly, you hereby irrevocably tender your
      resignation, as of the Retirement Date, as Chairman of the Board of BNC and
      (except for your position as a director of BNC) and from all positions and
      offices (including your position as a director of all subsidiaries, including
      BNC National Bank) you hold with BNC.  BNC hereby acknowledges your
      retirement and accepts your resignations effective as of the Retirement Date.
      Subject to the execution in good faith by BNC’s Board of Directors of its
      fiduciary duties, BNC agrees that the Board shall nominate you for re-election
      at BNC’s 2009 annual meeting of stockholders as a director of
      BNC.  Following the Retirement Date and thereafter for so long as you
      remain a director, you will receive the same compensation as other outside
      non-employee directors of BNC.  BNC will make a public announcement on
      or promptly following the date hereof, in a mutually acceptable form, regarding
      your retirement.

     

    2.  Compensation.  Following
      the Retirement Date through December 31, 2011, you will be paid an aggregate
      of
      $1,125,000 (subject to any applicable withholding) in equal
      semi-monthly  installments in recognition of your founding of BNC, and
      of your years of prior service.

     

    3.  Retirement
      Benefits.

     

    (a)  Following
      the Retirement Date and through December 31, 2011, BNC will continue your
      participation in its group health plan on the same terms as you enjoyed prior
      to
      the Retirement Date (other than any changes in the plan cost, terms and benefits
      that are applicable to all participants).  If BNC is unable to
      continue your participation due to requirements of the plan administrator or
      re-insurer, BNC will make alternative arrangements to provide you with
      alternative coverage substantially the same as you currently have, through
      December 31, 2011.

     

    (b)  Following
      the Retirement Date and through December 31, 2011, BNC will continue to make
      available to you the current BNC vehicle that you have on the same terms as
      you
      enjoyed prior to the Retirement Date.

     

    (c)  Following
      the Retirement Date and through December 31, 2011, BNC will continue to provide
      you with the use of an appropriate office in consideration of your past position
      but subject to BNC’s continued availability to provide such
      office.  Notwithstanding the foregoing, BNC agrees that until December
      31, 2009, you may continue to use your present office.

     

    4.  Status
      of Other Benefits.  Except as expressly provided hereinabove, your
      eligibility to participate in any of BNC’s employee benefit plans or programs
      ceases on or after the Retirement Date in accordance with the terms and
      conditions of each of those benefit plans and programs and your rights to
      benefits under any of the employee benefit plans or programs, if any, are
      governed by the terms and conditions of each of those employee benefit plans
      and
      programs.

     

    5.  Non-Compete.  In
      accordance with the terms of the Employment Agreement between BNC and you,
      you
      agree that the non-competition provision contained in Section 7 thereof shall
      continue to be applicable after the Retirement Date in accordance with its
      terms. You also agree that thereafter you shall continue to comply the
      provisions of Section 7 as long as you are serving as a director and receiving
      payments and benefits from BNC under this Agreement.

     

    6.  Miscellaneous.

     

    (a)  This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of North Dakota.

     

    (b)  This
      Agreement sets forth all the consideration to which you are entitled by reason
      of your retirement and resulting termination of your employment, and you agree
      that you shall not be entitled to or eligible for any payments or benefits
      under
      any other Company severance, bonus, retention or incentive policy, arrangement
      or plan.

     

    (c)  This
      Agreement constitute the entire agreement between us with respect to the subject
      matter hereof and, except as expressly provided therein, supersede all prior
      agreements with respect to any related subject matter.  This Agreement
      and all rights and obligations hereunder are personal to BNC and you and shall
      not be assignable, except in your case in accordance with the laws of descent
      and distribution.

     

    If
      you
      agree to these terms, please sign and date below and return this
      Agreement.  This Agreement may be executed in counterparts and/or by
      facsimile transmission, each of which shall be deemed to be an original but
      all
      of which together shall constitute one and the same instrument.  The
      execution of this Agreement may be by actual or facsimile
      signature.

    

    Sincerely,

    

    BNCCORP,
      INC.

    

    

    By:     /s/
      Gregory K.
      Cleveland    

                            Gregory
      K. Cleveland

    President
      and Chief Executive
      Officer

    

    ACCEPTED
      AND AGREED:

     

    /s/
      Tracy J. Scott    

            Tracy
      J.
      Scott

    

    

    Dated:  December
      26, 2007

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