Document:

Exhibit

Exhibit 10.3

EXECUTION COPY

AMENDMENT NO. 9 TO 
AMENDED AND RESTATED RECEIVABLES LOAN AGREEMENT

THIS AMENDMENT NO. 9 TO AMENDED AND RESTATED RECEIVABLES LOAN AGREEMENT (this “Amendment”), dated as of April 22, 2016, is by and among GREEN TREE ADVANCE RECEIVABLES II LLC, a Delaware limited liability company (the “Borrower”),  DITECH FINANCIAL LLC (formerly known as Green Tree Servicing LLC), a Delaware limited liability company, as administrator (in such capacity, the “Administrator”), THE FINANCIAL INSTITUTIONS identified on the signature pages hereto as Lenders (each, a “Lender”), WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association (“WFB”) as “Calculation Agent,” “Account Bank,” “Verification Agent” and “Securities  Intermediary” and WELLS FARGO CAPITAL FINANCE, LLC (“WFCF”), as agent for the Lenders (in such capacity, together with any successor thereto in such capacity, the “Agent”).  Capitalized terms used herein and not otherwise defined shall have the meaning given to such terms in the Receivables Loan Agreement (defined below).
WHEREAS, the Borrower, the Administrator, WFB, as Calculation Agent, Account Bank, Verification Agent and Securities Intermediary, the Lenders and WFCF, as Agent and Lender, are parties to that certain Amended and Restated Receivables Loan Agreement dated as of May 2, 2012 (as amended, restated, supplemented or otherwise modified from time to time, the “Receivables Loan Agreement”);
WHEREAS, Section 11.01 of the Receivables Loan Agreement provides that the Receivables Loan Agreement may be amended as follows;
WHEREAS, the Agent represents each Lender under the Receivables Loan Agreement as of the date hereof and each such Lender has consented to the terms of this Amendment;
WHEREAS, the parties to the Receivables Loan Agreement have agreed to amend the Receivables Loan Agreement on the terms and conditions set forth herein;
NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
Section 1.Amendments to the Receivables Loan Agreement.  Effective as of the date hereof and subject to the execution of this Amendment by the parties hereto, the Receivables Loan Agreement is hereby amended as follows:
1.1    Section 1.01 is hereby amended by adding the following new definition in its appropriate alphabetical order:
““Advance Ratio Exception Trust” means each Securitization Trust described on Schedule XIII.”

1.2    In Section 1.01, the following definitions are hereby amended and restated in their entirety as follows:
““Eligible Securitization Trust” means, as of any date of determination, a Securitization Trust that satisfies all of the following criteria:
(a)    the related Servicing Agreement contains provisions which (i) expressly authorize the servicer thereunder to enter into a financing or other facility under which such servicer assigns or pledges its rights under such Servicing Agreement to be reimbursed for any or all Delinquency Advances and/or Protective Advances to one or more lenders or other Persons (which may include a special-purpose bankruptcy-remote entity and/or a trustee acting on behalf of holders of debt instruments) (an “Advance Financing Person”) and (ii) require that as between a predecessor servicer and its Advance Financing Person, on the one hand, and a successor servicer and its Advance Financing Person (if any) on the other hand, advance reimbursement amounts on a loan-by-loan basis with respect to each Securitization Trust Asset as to which a Delinquency Advance or a Protective Advance is outstanding shall be allocated on a “first-in, first-out” basis, such that Advances of a particular type that were disbursed first in time will be reimbursed prior to Advances of the same type with respect to the same Securitization Trust Asset that were disbursed later in time;
(b)no Securitization Trust Termination Event has occurred with respect to such Securitization Trust;
(c)the aggregate outstanding principal balance of the related Securitization Trust Assets on such date is not less than $2,000,000;
(d)no more than thirty percent (30.0%) of the related Securitization Trust Assets (determined by weighted average outstanding principal balance) are thirty (30) days Delinquent or otherwise in default on such date; and
(e)the Advance Ratio with respect to such Securitization Trust on such date is less than (i) twelve percent (12.0%), if such Securitization Trust is an Advance Ratio Exception Trust, or (ii) five percent (5.0%), for all other Securitization Trusts.

1.3    Schedule VIII is hereby amended and restated in its entirety in the form of Schedule VIII hereto.
1.4    Schedule XIII is hereby added to the Receivables Loan Agreement following Schedule XII in the form of Schedule XIII hereto. 
1.5    The Receivables Loan Agreement and any other Facility Documents are hereby amended such that any reference to “Green Tree Servicing LLC” shall be amended to refer to “Ditech Financial LLC”.

2    
22056411.1.BUSINESS 

Section 2.    Reference to and Effect on the Receivables Loan Agreement.  From and after the date hereof, each reference in the Receivables Loan Agreement to “this Agreement,” “hereunder,” “hereof,” “herein,” “hereby” or words of like import shall mean and be a reference to the Receivables Loan Agreement as amended hereby, and each reference to the Receivables Loan Agreement in any other document, instrument or agreement executed and/or delivered in connection with the Receivables Loan Agreement shall mean and be a reference to the Receivables Loan Agreement as amended hereby.
Section 3.    Expenses.    The Borrower hereby agrees that in addition to any costs otherwise required to be paid pursuant to the Transaction Documents, the Borrower shall be responsible for the payments of the reasonable and documented legal fees and out-of-pocket expenses of legal counsel to the Agent, the Calculation Agent, the Verification Agent, Account Bank and the Securities Intermediary incurred in connection with the consummation of this Amendment and all other documents executed or delivered in connection therewith.
Section 4.    CHOICE OF LAW.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 OF THE GENERAL OBLIGATIONS LAWS OF THE STATE OF NEW YORK BUT OTHERWISE WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES).
Section 5.    Execution of Counterparts.  This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.
Section 6.    Conditions to Effectiveness.  The effectiveness of this Amendment is subject to receipt by the Administrative Agent of executed counterparts (or other evidence of execution, including facsimile signatures, satisfactory to the Administrative Agent) of this Amendment. 
Section 7.    Headings.  Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose.
Section 8.    Counterparts.  Delivery of an executed counterpart of this Amendment by telefacsimile, “.pdf file” or other electronic method of transmission shall be equally as effective as delivery of an originally executed counterpart of this Amendment.  Any party delivering an executed counterpart of this Amendment by telefacsimile, “.pdf file” or other electronic method of transmission also shall deliver an originally executed counterpart of this Amendment but the failure to deliver an originally executed counterpart shall not affect the validity, enforceability, and binding effect of this Amendment.

(Signatures Appear on the Following Pages)

3    
22056411.1.BUSINESS 

IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective officers thereunto duly authorized, as of the date hereof.
GREEN TREE ADVANCE RECEIVABLES 
II LLC, as Borrower
		
	By:
	 /s/ Cheryl Collins             
Name:    Cheryl A. Collins 
Title: SVP & Treasurer    

DITECH FINANCIAL LLC, 
as Administrator
		
	By:
	 /s/ Cheryl Collins             
Name:    Cheryl A. Collins 
Title: SVP & Treasurer

Signature Page to Amendment No. 9 to A&R Receivables Loan Agreement

WELLS FARGO BANK, NATIONAL ASSOCIATION, as Calculation Agent, Verification Agent, Account Bank and Securities Intermediary
		
	By:
	 /s/ Mark DeFabio             
Name:    Mark DeFabio             
Title: Vice President            

WELLS FARGO CAPITAL FINANCE, LLC, as Agent and as Lender
		
	By:
	 /s/ Mark Weide             
Name:    Mark Weide             
Title: Vice President            

Signature Page to Amendment No. 9 to A&R Receivables Loan Agreement

SCHEDULE VIII
List of Securitization Trusts from which Delinquency Advances will be made

	
			
	LIST OF SECURITIZATION TRUSTS FROM WHICH

	DELINQUENCY ADVANCES WILL BE MADE

	 
	 
	 

	 
	Trust Legal Name
	Seller

	1
	Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1995-BA1
	Ditech Financial LLC

	2
	BankAmerica Manufactured Housing Contract Trust Senior/Subordinate Pass-Through Certificates Series 1996-1
	Ditech Financial LLC

	3
	BankAmerica Manufactured Housing Contract Trust II Senior/Subordinate Pass-Through Certificates Series 1997-1
	Ditech Financial LLC

	4
	BankAmerica Manufactured Housing Contract Trust III Senior/Subordinate Pass-Through Certificates Series 1997-2
	Ditech Financial LLC

	5
	BankAmerica Manufactured Housing Contract Trust IV Senior/Subordinate Pass-Through Certificates Series 1998-1
	Ditech Financial LLC

	6
	BankAmerica Manufactured Housing Contract Trust V Senior/Subordinate Pass-Through Certificates Series 1998-2
	Ditech Financial LLC

	7
	Green Tree 2008 HE-1
	Ditech Financial LLC

	8
	Green Tree 2008 MH-1
	Ditech Financial LLC

	9
	Green Tree Mortgage Loan Trust 2005-HE1
	Ditech Financial LLC

	10
	Greenpoint Credit Manufactured Housing Contract Trust Pass-Through Certificate Trust Series 1998-1
	Ditech Financial LLC

	11
	Greenpoint Credit Manufactured Housing Contract Trust Pass-Through Certificate Trust Series 1999-1
	Ditech Financial LLC

	12
	Greenpoint Credit Manufactured Housing Contract Trust Pass-Through Certificate Trust Series 1999-2
	Ditech Financial LLC

	13
	Greenpoint Credit Manufactured Housing Contract Trust Pass-Through Certificate Trust Series 1999-3
	Ditech Financial LLC

	14
	Greenpoint Credit Manufactured Housing Contract Trust Pass-Through Certificate Trust Series 1999-4
	Ditech Financial LLC

	15
	Greenpoint Credit Manufactured Housing Contract Trust Pass-Through Certificate Trust Series 1999-5
	Ditech Financial LLC

	16
	Greenpoint Credit Manufactured Housing Contract Trust Pass-Through Certificate Trust Series 1999-6
	Ditech Financial LLC

	17
	Greenpoint Credit Manufactured Housing Contract Trust Pass-Through Certificate Trust Series 2000-1
	Ditech Financial LLC

	18
	Greenpoint Credit Manufactured Housing Contract Trust Pass-Through Certificate Trust Series 2000-2
	Ditech Financial LLC

	19
	Greenpoint Credit Manufactured Housing Contract Trust Pass-Through Certificate Trust Series 2000-3
	Ditech Financial LLC

	20
	Greenpoint Credit Manufactured Housing Contract Trust Pass-Through Certificate Trust Series 2000-4
	Ditech Financial LLC

	21
	Greenpoint Credit Manufactured Housing Contract Trust Pass-Through Certificate Trust Series 2000-5
	Ditech Financial LLC

	22
	Greenpoint Credit Manufactured Housing Contract Trust Pass-Through Certificate Trust Series 2000-6
	Ditech Financial LLC

	23
	Greenpoint Credit Manufactured Housing Contract Trust Pass-Through Certificate Trust Series 2000-7
	Ditech Financial LLC

	24
	Greenpoint Credit Manufactured Housing Contract Trust Pass-Through Certificate Trust Series 2001-1
	Ditech Financial LLC

	25
	Greenpoint Credit Manufactured Housing Contract Trust Pass-Through Certificate Trust Series 2001-2
	Ditech Financial LLC

	
			
	26
	Bombardier Capital Mortgage Securitization Corporation, Senior/Subordinated Pass-Through Certificates, Series 1998-A
	Ditech Financial LLC

	27
	Bombardier Capital Mortgage Securitization Corporation, Senior/Subordinated Pass-Through Certificates, Series 1998-B
	Ditech Financial LLC

	28
	Bombardier Capital Mortgage Securitization Corporation, Senior/Subordinated Pass-Through Certificates, Series 1998-C
	Ditech Financial LLC

	29
	Bombardier Capital Mortgage Securitization Corporation, Senior/Subordinated Pass-Through Certificates, Series 1999-A
	Ditech Financial LLC

	30
	Bombardier Capital Mortgage Securitization Corporation, Senior/Subordinated Pass-Through Certificates, Series 1999-B
	Ditech Financial LLC

	31
	Bombardier Capital Mortgage Securitization Corporation, Senior/Subordinated Pass-Through Certificates, Series 2000-A
	Ditech Financial LLC

	32
	Bombardier Capital Mortgage Securitization Corporation, Senior/Subordinated Pass-Through Certificates, Series 2001-A
	Ditech Financial LLC

	33
	Conseco Finance Home Equity Loan Trust 2001-C
	Ditech Financial LLC

	34
	Conseco Finance Home Equity Loan Trust 2001-D
	Ditech Financial LLC

	35
	Conseco Finance Home Equity Loan Trust 2002-A
	Ditech Financial LLC

	36
	Conseco Finance Home Equity Loan Trust 2002-B
	Ditech Financial LLC

	37
	Conseco Finance Home Equity Loan Trust 2002-C
	Ditech Financial LLC

	38
	Lake Country Mortgage Loan Trust 2005-HE1
	Ditech Financial LLC

	39
	Lake Country Mortgage Loan Trust 2006-HE1
	Ditech Financial LLC

	 
	 
	 

SCHEDULE XIII
List of Securitization Trusts which are Advance Ratio Exception Trusts

	
			
	LIST OF SECURITIZATION TRUSTS

	WHICH ARE ADVANCE RATIO EXCEPTION TRUSTS

	 
	 
	 

	 
	Trust Legal Name
	Seller

	
		
	Green Tree Mortgage Loan Trust 2005-HE1
	Ditech Financial LLC

	Lake Country Mortgage Loan Trust 2005-HE1
	Ditech Financial LLC

	Lake Country Mortgage Loan Trust 2006-HE1
	Ditech Financial LLCExhibit

Exhibit 10.1
RealNetworks, Inc. Executive MBO Plan – Section 16(b) Executive Officers 
OBJECTIVE OF THE PLAN 
The objective of the RealNetworks’ Executive MBO Plan is to reward participants for their contribution to the company’s success and ensure market competitiveness as we work to attract and retain high caliber talent.  RealNetworks has adopted this plan to reward high performance consistent with our core business objectives. The Executive MBO Plan is administered under RealNetworks’ 2005 Stock Incentive Plan, as amended and restated. 
EFFECTIVE DATE 
The effective date of the 2016 Executive MBO Plan is January 1, 2016 – December 31, 2016.  Payout, if earned, will be made by no later than March 15, 2017. 
PLAN METRICS 
Total attainment for the target period is based on (i) revenue (weighted at 50%), (ii) adjusted EBITDA (weighted at 25%), and (iii) strategic business objectives (weighted at 25%). 
Adjusted EBITDA is a non-GAAP measure that we define as operating income (loss) including other income (expense) net, but excluding depreciation and amortization; acquisition-related intangible asset amortization; stock-based compensation; restructuring and other charges; lease exit and related charges; and extinguishment of liability.
A discretionary modifier of +/- 25% is reserved for Compensation Committee discretion to adjust the calculated payout of an individual executive officer upward or downward by up to 25%. The basis for the modifier being applied is entirely at the discretion of the Compensation Committee when reviewing such things as: shareholder value creation, revenue growth, cash flow generation, use of capital, etc. Notwithstanding the preceding, the Compensation Committee will not have discretion to increase the payment for any Section 162(m) Participant.
MBO PAYOUT MECHANICS 
Any bonuses payable pursuant to the Plan may be paid in cash or in the form of fully vested equity, or a combination thereof.
Revenue Metric: 
	
				
	 
	•
	 
	In order to encourage revenue growth year over year, performance under 90% of the revenue target goal will not be rewarded.

	
			
	 
	 
	 

	Attainment
	 
	Incentive Payout

	< 90%
	 
	No Payout

	90% - 100%
	 
	50% - 100%

	100% - 120%+
	 
	100% - 200%*

	
		
	*
	Payout for revenue results will have a maximum payout of 200%.  Payout is capped at 100% if adjusted EBITDA is attained at less than 100% of target.

Adjusted EBITDA Metric: 
	
				
	 
	•
	 
	In order to maintain fiscal responsibility, performance lower than $2,000,000 below adjusted EBITDA target will not be rewarded.

	
			
	 
	 
	 

	Attainment
	 
	Incentive Payout

	> $2 million below budget
	 
	No Payout

	$2 million below budget up to budget
	 
	50% - 100%

	Budget up to $2 million over budget*
	 
	100% - 200%*

	
		
	*
	Payout for adjusted EBITDA results will be capped at 100% until revenue attainment reaches 100%, and will have a maximum payout of 200%.

TERMS AND CONDITIONS 

	
				
	 
	•
	 
	Executive MBO Plan calculations and payments are completed and made after the end of the plan year with payout timing approximately 30 - 45 days after the close of the plan year. In all circumstances, any payouts that are earned in the plan year will be paid by March 15 of the following year, at the latest.

	
				
	 
	•
	 
	You must be in an eligible position on the first and last day of the month to participate in the plan for that month.

	
				
	 
	•
	 
	Salary, eligible position changes and/or transfers from one eligible group to another within a month will be based on status at the beginning of the month. Changes after the first day of the month will be reflected in the next month.

	
				
	 
	•
	 
	In order to receive a payout from the plan you must be on the company’s payroll as of the last day of the plan year and on the company’s payroll as of the date the award is scheduled to be paid, subject to the following. If your employment terminates due to your total and permanent disability or death, you or your estate, still may, in the discretion of the Compensation Committee be eligible to receive any payout that otherwise was earned.

	
				
	 
	•
	 
	Notwithstanding any other provision of the plan, the Compensation Committee may, in its sole discretion, increase (other than for a Section 162(m) Participant), reduce or eliminate a participant’s award at any time before it is paid, whether or not calculated on the basis of pre-established performance goals or formulas.

	
				
	 
	•
	 
	The Compensation Committee has all power and discretion to interpret and administer the plan, including (but not limited to) the power to determine who is eligible for the plan and the size of any payouts.

	
				
	 
	•
	 
	The Compensation Committee may delegate all or any part of its powers under the plan to the company’s chief executive officer or head of human resources, except that such individual may not administer the plan with respect to participants who are executive officers of the company. (For this purpose, an individual will be considered an executive officer of the company if his or her role at the company falls within the definition of “officer” under Rule 16a-1(f) promulgated under the Securities Exchange Act of 1934, as amended.)

	
				
	 
	•
	 
	The Compensation Committee reserves the right to adjust targets/measurements based on acquisition or disposition of businesses/assets.

	
				
	 
	•
	 
	The Section 162(m) Participants are the company’s chief executive officer, chief financial officer, and any president or executive vice president.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00257-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00257-of-00352.parquet"}]]