Document:

exv10w1

 

Exhibit 10.1

INDYMAC BANCORP, INC.

INDYMAC BANK, F.S.B.

DIRECTOR’S AGREEMENT

     THIS DIRECTOR’S AGREEMENT (the “Agreement”) is executed effective as of August 1,
2006, by and between IndyMac Bancorp, Inc. (the “Company”) and IndyMac Bank, F.S.B. (the
“Bank”), and                      (“Director”).

WITNESSETH:

     WHEREAS, the Director has been elected by the shareholders to the Board of Directors
(“Board”) of the Company and/or the Bank;

     WHEREAS, the Director desires to serve on the Boards until he resigns or is not elected for
another term and will receive compensation and other benefits from the Company during his period of
service on the Boards;

     WHEREAS, the Company and the Bank desire to have the benefit of the Director’s service as a
Board member for the term for which Director is elected;

     WHEREAS, the Company, the Bank, and the Director desire to set forth the terms and conditions
of Director’s service as a Board member under this Agreement;

     NOW, THEREFORE, in consideration of the mutual promises and covenants herein contained, the
parties hereto agree as follows:

     1. Duration. Director shall be subject to this Agreement for so long as Director serves as a
Board member and, with respect to the obligation in section 4 hereof and those provisions in the
Indymac Director Code of Ethics that by their terms apply after the Director’s term has ended, for
the relevant period thereafter. Director’s service as a Board member may continue indefinitely
until Director resigns or is not re-elected.

     2. Compensation. The Company or the Bank will compensate Director in accordance with the
Board Compensation Policy.

     3. Adherence to Code of Ethics. Director has reviewed the Indymac Corporate Governance
Philosophy and the Indymac Director Code of Ethics and agrees to abide by the principles and adhere
to the rules expressed therein.

     4. Cooperation. Upon the receipt of reasonable notice from Company or the Bank (including
outside counsel), Director agrees that while serving as a Board member and thereafter, Director
will provide information and reasonable assistance to Company or the Bank, their affiliates and
their respective representatives in defense of any claims

 

 

that may be made against Company, the Bank or their affiliates, to the extent that such claims
may relate to the period of Director’s service as a Board member.

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written.

	 	 	 	 	 
	 	COMPANY

 	 
	 	By:  	 	 
	 	 	Name:  	Michael W. Perry 	 
	 	 	Title:  	Chairman of the Board 	 
	 
	 	BANK

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DIRECTOR
	 
	 
	 	 	 
	 	[                         ]

in Director’s individual capacityexv10w1

 

Exhibit 10.1

PLEASE SIGN & RETURN

Dear [Name]:

As we reviewed at the Board of Directors meeting last week, each non-employee director was awarded
                     restricted shares of common stock for director service. Here are the legal details of
that award. Please sign both copies of this letter and return one in the enclosed envelope for our
files.

	•	 	Your award (the “Award”) consists of Shares
of Restricted Stock, par value $.25 per share,
of Centex Corporation (the “Company”). It is
being made out of the Centex Corporation 2003
Equity Incentive Plan (the “Plan”).
	 
	•	 	The restrictions in the Plan and your Award
terminate on                     , unless they end
at an earlier time as described in the Plan or
your Award. The date that the restrictions
terminate is called the “Lapse Date.” The
Shares of Restricted Stock will be freely
transferable on the day after the Lapse Date.
You will forfeit your Shares if, before the
Lapse Date, (i) you cease to be a director for
any reason or (ii) you engage in, or have an
interest (as stockholder, director, officer,
employee, agent, partner or otherwise) in, any
entity that engages in any business activity
in the United States that the Company or any
of its Affiliates is engaged at any time from
the date of this Award to the date you cease
to be a director. This restriction does not
apply if you own 1% or less of any class of
equity securities of a publicly traded entity,
or if your participation or interest in a
business activity results in annual revenues
to you or that entity of $500,000 or less.
	 
	•	 	The restrictions in the Plan and this Award
terminate immediately (i) upon your
retirement, (ii) if there is a change in
control of the Company, as defined in the
Plan, or (iii) if you die or are permanently
disabled. “Retirement” means the end of your
current term as director if you cannot stand
for re-election because you have reached the
age of 70, or have reached the 20-year limit,
or your voluntary resignation from the Board
with the consent of a majority of the other
directors. Whether you have suffered a
permanent disability will be determined by the
Committee. In the event of your death, your
Shares will be transferred pursuant to will or
the laws of descent and distribution and the
recipients will have all rights to the Shares
of Restricted Stock.
	 
	•	 	This Award is subject to the Plan, and the
Plan will govern if there is any inconsistency
between the Plan and this Award. If you need
a copy of the Plan, the Law Department can
provide one. The provisions of the Plan are
also provisions of this Award, and all terms,
provisions and definitions set forth in the
Plan are incorporated in this Award and made a
part of this Award for all purposes.
Capitalized terms used but not defined in this
Award will have the meanings assigned to such
terms in the Plan.
	 
	•	 	This Award has been signed in duplicate by
the Company and delivered to you, and (when
you sign below) has been accepted by you
effective as of                     .

	 	 	 
	ACCEPTED BY GRANTEE

	 	CENTEX CORPORATION
	as of                     
	 	 
	 
	 	 
	 

	 	 
	[Name]

	 	[Name]
	 

	 	[Title]exv10w2

 

Exhibit 10.2

			
	 	 	 
	 PLEASE SIGN & RETURN
	 	Non-Employee Director Stock Options

2003 Plan

Dear [Full Name]:

     Effective                      you have been granted a fully vested Non-qualified Option to purchase
up to [amount] shares of the common stock, par value $.25 per share, of Centex Corporation (the
“Company”) for $[price] per share (the “Option”). This Option is granted under the Centex
Corporation 2003 Equity Incentive Plan (as such plan may be amended from time to time, the “Plan”).
A copy of the Plan is available to you upon request to the Law Department during the term of this
Option. This Option will terminate upon the close of business on [7 years], unless earlier
terminated as described herein or in the Plan.

     If for any reason you cease to be a Director of the Company or an employee of at least one of
the employers in the group of employers consisting of the Company and its Affiliates, any portion
of this Option vested but not exercised by you on or before such date of cessation may be exercised
after such date only as provided in the Plan. However, if you retire from the Board of Directors
of the Company before all Shares subject to this Option have been exercised, then the exercise
period of the Option shall be extended to three years following your retirement, but in no event
longer than the seven-year life of this Option.

     You may pay the exercise price for any vested portion of this Option by electing to submit (by
actual delivery or attestation) shares owned by you for at least six months prior to exercise or
through other means specified in the Plan.

     The Company may cancel and revoke this Option and/or replace it with a revised option at any
time if the Company determines, in its good faith judgment, that this Option was granted to you in
error or that this Option contains an error. If the Company replaces this Option with a revised
option, then you will have all of the benefits conferred under the revised option, effective at
such time as the new option goes into effect.

     This Option is subject to the Plan, and the Plan will govern where there is any inconsistency
between the Plan and this Option. The provisions of the Plan are also provisions of this Option,
and all terms, provisions and definitions set forth in the Plan are incorporated in this Option and
made a part of this Option for all purposes. Capitalized terms used but not defined in this Option
will have the meanings assigned to such terms in the Plan. This Option has been signed in
duplicate by Centex Corporation and delivered to you, and (when you sign below) has been accepted
by you effective as of                     .

	 	 	 
	ACCEPTED

	 	CENTEX CORPORATION
	as of                     

	 	 
	 
	 

	 	 
	[Full Name]

	 	[Name]

[Title]exv10w5

 

Exhibit 10.5

CENTEX CORPORATION

AMENDED AND RESTATED

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

First Amendment

          Centex Corporation, a Nevada corporation, having established and maintaining the Centex
Corporation Amended and Restated Supplemental Executive Retirement Plan (“SERP”), and having
reserved the right to amend the SERP, does hereby amend the “Contributions” section of the SERP,
effective as of July 13, 2006, to read as follows:

“To be eligible for an annual SERP accrual a participant must be actively employed
by an Employer (as that term is defined in the Plan) on the date the SERP
contribution is to be credited to his or her account (and regardless of whether or
not he receives a contribution under the Plan for the same Plan year). The annual
SERP accrual for the account of each such eligible participant will be calculated
using the total compensation which, but for the Limitations or the participant not
being eligible to participate in the Plan, would be considered in determining the
appropriate profit sharing contribution for such participant under the Plan (“Total
Compensation”), less the amount, if any, which has been considered for the Plan
contribution. The difference between Total Compensation and the amount, if any,
considered in the Plan is herein called “Excess Salary.”

The accrual contribution to be allocated to the account of an eligible participant
will be the product of his or her Excess Salary times the percent of salary used by
his or her Employer in allocating the Plan contribution. Should the Plan formula be
changed in future years such that the contribution is not calculated exclusively as
a percentage of compensation, then the percentage to be used for the SERP shall
represent the percentage derived by dividing the total profit sharing contribution
for the applicable Employer by the sum of all Total Compensation for all of that
Employer’s Plan participants.”

          IN WITNESS WHEREOF, Centex Corporation has caused these presents to be executed by its duly
authorized officer in a number of copies, all of which shall constitute one and the same
instrument, which may be sufficiently evidenced by any executed copy hereof, this 14th day of July,
2006, but effective as of July 13, 2006.

	 	 	 	 	 
	 	CENTEX CORPORATION

 	 
	 	By:  	/s/ Michael S. Albright
 	 
	 	 	Name:  	Michael S. Albright 	 
	 	 	Title:  	Senior Vice President - Administration

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