Document:

exv10w15

Exhibit 10.15

NATIONSTAR MORTGAGE

INCENTIVE PROGRAM SUMMARY

	 	 	 	 	 
	POSITION	 	FREQUENCY	 	OPPORTUNITY
	Job Title	 	Annual	 	 
	 
	 	 
	 	 

Life of the Program

This incentive program is effective beginning January 1, 2010 and continues until revised or
revoked by Nationstar Mortgage Senior Management.

 

Program Concept/Objective

It is the Company’s objective to design and administer incentive opportunities that when combined
with base salary will deliver above average total cash to successful performers as compared to
their peers in firms competing in the same product, service, and talent marketplaces.

 

Program Approval Authorities

	 	 	 

	 
	 	 
	 

	 	 
	EVP, OD/HR

	 	Participant
	 
	 	 
	 
	 	 
	 

Chief Financial Officer

	 	 
	 
	 	 
	 
	 	 
	 

President/CEO

	 	 

 

 

BASIS FOR DETERMINING INCENTIVE AWARDS

Eligibility for Participation: Only those Participants actively employed with Nationstar Mortgage
(the “Company”), in the positions as identified above in the program summary information and as
designated by the President/CEO, are eligible for participation in this bonus program.

Program Measures: Participants, as designated by the President/CEO, are eligible for incentive
compensation based on achievement of goals as identified in the attached Appendix(s).

Incentive Opportunity: The appropriate incentive awards will be calculated in accordance with the
applicable criteria for the position. Targets have been established for this position, which
describe the opportunity and must be communicated to the eligible Participant prior to the
measurement period. For incentive plans that express the incentive opportunity as a percentage of
base salary, the base salary used will be the Participant’s base salary as of January 1 of the
applicable plan year.

New/Reactivated/Transferred Employees: With respect to any annual payment, participants who become
eligible for participation during the program year will be prorated from the Eligibility Date.
Eligibility Date shall be defined as the effective date of the new/reactivated/transferred senior
manager’s assumption of responsibilities as reflected on the Payroll Action Notice. Additionally,
only with the approval of the President/CEO may partial period incentive payments be made to
program participants.

Responsibility for Calculations and Plan Payments: The Participant must complete all reporting
requirements as specified by senior management to qualify for bonus consideration. The appropriate
Company Finance Manager is charged in each case with the responsibility for incentive payment
calculations made in accordance with the terms of this program. He/she must also certify full and
partial year payments for all qualified participants.

Performance Rating Requirement: In order to be eligible to receive any payment under this program,
the participant must at all times, maintain an acceptable level of performance. Participants are
also expected to follow all guidelines with respect to the code of conduct as specified by the
Company. If rated below “meets expectations” during the measurement period, or the employee
otherwise receives disciplinary counseling for a conduct issue, the employee will not be eligible
for an incentive award for that measurement period. The employee must successfully complete a
performance improvement plan prior to the end of the next performance measurement period and be
rated at least “meets expectations” by that date or date in order to be eligible for an incentive
award.

Review and Modification: It is important that performance goals established in the Company’s
Incentive Programs maintain an appropriate position as it relates to market potential and the
overall business plan. Clearly, expectations of market potential can change during the year. Such
reviews may result in changes in incentive rates or goals upward or downward depending on specific
circumstances at the Company’s discretion without the need for prior notice. Any changes will
require approval of the President/CEO of the Company.

      

					
	 
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Timing of Incentive Payments: Monthly and Quarterly incentive payments will be made approximately
30 days following the end of the performance period or within 30 days from the date the request is
received in Payroll processing, whichever is later. Annual awards will be paid as soon as
practical after the Company’s financial results for the year have been determined, but in no event
later than two (2) months after the end of the fiscal year, and shall be payable only if the
Employee is employed by the Company on the last day of the fiscal year. If an employee on an
annual award plan resigns, gives notice of his/her intent to resign, or otherwise terminates
his/her employment before the annual award is paid, the employee forfeits all rights to any annual
incentive award, and any incentive award that is paid is at the sole discretion of the Company.

Terminated Employees: A Participant whose employment is terminated, either by the Company or the
Participant, prior to the completion of an entire incentive period shall not be eligible to receive
any payment under this program, except where payment is required by federal or state law.
Otherwise stated, the Participant must be actively employed at the end of the measurement period
(which includes any time where payment is made in lieu of a working notice period) to be eligible
to receive any payment. This provision shall not apply in cases of the employee’s death,
retirement, or disability. Management reserves the right to withhold payments from any individual
where there is an ongoing investigation with respect to appropriate business practices until such
time as the investigation is complete, and the employee has been exonerated.

Plan Amendments and Termination: The Company will have the complete authority to interpret Plan
provisions, to revise the Plan and to make determinations deemed appropriate for fair
administration of the Plan. The Company reserves the right to amend or terminate this Plan or to
revise any aspect of the Plan at any time, including individual payouts, without prior notification
to the participant(s).

Other General Rules: Participation in this plan cannot be construed to constitute a contract
between the Company and any of its employees. Program participation does not limit the Company
from terminating an employee’s employment at any time. Participation in the Program during the
fiscal year does not imply participation in any subsequent fiscal year.

INCENTIVE OPPORTUNITY

The Participant is eligible to receive an annual incentive award. The incentive amount will be
based upon the criteria as found in the following Appendix(s). Recognizing the volatility of the
business; the corresponding difficulty in establishing firm objectives and goals for a calendar
year; and other performance measures that may come into play, as much as fifty percent (50%) of the
calculated incentive award will be subject to the discretionary approval and award of the
President/CEO. Conversely, the President/CEO may at his discretion award up to 50% of the defined
bonus opportunity even if performance objectives are not met.

The appropriate Company Finance Manager is charged in each case with the responsibility for
incentive payment calculations made in accordance with the terms of this program.

      

					
	 
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Non-Solicitation: As a condition of participation in this Incentive Plan, the Eligible Employee
specifically agrees that during the course of the Eligible Employee’s employment with the Company
and for the period of twelve (12) months following his/hers termination of employment for any
reason; (i) he/she will not, whether directly or indirectly (whether personally or through another
business, entity or person), recruit, solicit, induce or encourage others to recruit, solicit, or
induce, any employee of the Company to terminate his/her employment with, or otherwise cease
his/her relationship with the Company, or (ii) hire any individual who left the employ of the
Company or any of its affiliates during the immediately preceding one-year period. Subject to the
limitations noted in this Plan and the Terms and Conditions, the Eligible Employee is not
restricted from being employed by or engaged in any type of business following the termination of
the Eligible Employee’s employment relationship with the Company.

Plan Acknowledgement: I acknowledge that without my signature to demonstrate the acceptance of all
the terms and conditions of this Plan and the Terms and Conditions, unless prohibited by the state
law, I will be ineligible to participate in this Plan, and I will not be entitled to receive any
Variable Pay payment provided for in such Plan. Notwithstanding the foregoing, in the event I, for
any reason, fail to sign or acknowledge my acceptance of all the terms and conditions of this Plan
and the Terms and Conditions, any Variable Pay paid to me by the Company will be governed
exclusively by this Plan.

By signing or acknowledging this Plan below, I authorize the Company to deduct any Variable Pay or
advanced payment from any future Variable Pay or my final paycheck upon termination if the
conditions for earning such Variable Pay payments do not occur. I understand and agree to the use
of an electric method of signature to demonstrate my acceptance of the terms and conditions of this
Plan, and the Terms and Conditions, including any applicable amendment, and all related business
practices and policies, all of which are incorporated into and made a part of this Plan and which
may be revised from time to time at the Company’s sole discretion

      

					
	 
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	 	1/01/10exv10w16

Exhibit 10.16

NATIONSTAR MORTGAGE LLC

LONG-TERM INCENTIVE PLAN

March 2007

 

 

NATIONSTAR MORTGAGE LLC

LONG-TERM INCENTIVE PLAN

Table of Contents

	 	 	 	 	 	 	 
	 	 	 	 	Page
	ARTICLE I

	 	ELIGIBILITY
	 	 	1	 
	 
	 	 	 	 	 	 
	ARTICLE II

	 	AWARDS
	 	 	1	 
	 
	 	 	 	 	 	 
	ARTICLE III

	 	ACCOUNTS
	 	 	2	 
	 
	 	 	 	 	 	 
	ARTICLE IV

	 	DISTRIBUTION
	 	 	2	 
	 
	 	 	 	 	 	 
	ARTICLE V

	 	ADMINISTRATION OF THE PLAN
	 	 	3	 
	 
	 	 	 	 	 	 
	ARTICLE VI

	 	LIMITATION OF RIGHTS
	 	 	4	 
	 
	 	 	 	 	 	 
	ARTICLE VII

	 	LIMITATION OF ASSIGNMENT AND
PAYMENTS TO
LEGALLY INCOMPETENT DISTRIBUTEE
	 	 	4	 
	 
	 	 	 	 	 	 
	ARTICLE VIII

	 	AMENDMENT TO OR TERMINATION OF THE PLAN
	 	 	4	 
	 
	 	 	 	 	 	 
	ARTICLE IX

	 	STATUS OF PARTICIPANT AS UNSECURED CREDITOR
	 	 	5	 
	 
	 	 	 	 	 	 
	ARTICLE X

	 	GENERAL AND MISCELLANEOUS
	 	 	5	 
	 
	 	 	 	 	 	 
	ARTICLE XI

	 	DEFINITIONS
	 	 	6	 

i

 

NATIONSTAR MORTGAGE LLC

LONG-TERM INCENTIVE PLAN

PREAMBLE

     Nationstar Mortgage LLC (the “Company”) recognizes the outstanding performance and individual
contributions of certain Employees as essential to the overall success and profitability of the
Company. The Company therefore wishes to retain the services of these Employees. As a fundamental
strategy to encourage and reward the continued service of these Employees, the Company is
establishing a long-term incentive plan that will provide them with certain cash benefits,
contingent on the performance of future services, as set forth herein.

     Only those Employees selected by the President and CEO will be eligible to participate in the
Plan. The Company intends that any Participant or Beneficiary of the Plan shall have the status of
an unsecured general creditor with respect to this Plan.

     The terms of the Plan are as follows:

ARTICLE I

ELIGIBILITY

     1.1 The President and CEO shall determine, within ninety (90) days after the beginning of each
Performance Period, the eligibility of individuals to participate in the Plan with respect to such
Performance Period; provided, however, that participation shall be limited to individuals who are
Employees of the Company. From time to time, the President and CEO may select an individual to
participate in the Plan for the remainder of a Performance Period after the aforesaid ninety
(90)-day period has elapsed. In such event, the President and CEO shall determine the amount of
the Award that shall be credited on behalf of such individual for such Performance Period, as
provided in Section 2.1 hereof. The President and CEO, or his authorized delegate, shall notify
each Employee of his eligibility to participate as soon as practicable following the determination.
The determination as to the eligibility of any Employee to participate in the Plan for any
Performance Period shall be in the sole and absolute discretion of the President and CEO,
consistent with the policies of the Company in place from time to time, and the decision of the
President and CEO in that regard shall be conclusive and binding for all purposes hereunder. The
eligibility of an Employee to participate in the Plan for any Performance Period shall not entitle
such Employee to participate in the Plan in subsequent Performance Periods.

ARTICLE II

AWARDS 

     2.1 Eligibility for Award. Within ninety (90) days after the beginning of each
Performance Period, the President and CEO shall establish specified performance goals for each
Participant during the Performance Period. In establishing such performance goals, the President
and CEO may consider the position and responsibilities of the Participant; the importance of such
individual to the
Company; the duties of such individual; the desired financial performance of the

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Company; the
past, present and potential contributions of such individual to the growth and success of the
Company; and such other factors as the President and CEO in his sole discretion may deem relevant
in connection with the purposes of this Plan. As soon as practicable following each Award Date,
the President and CEO shall, based on the level of attainment of the pre-established performance
goals, determine the amount of the Award, if any, to be granted to each Participant who is eligible
to participate in the Plan for such Performance Period and who continues to be employed on the
Award Date. Notwithstanding the foregoing, in the event that an Employee becomes eligible to
participate in the Plan after the aforesaid ninety (90)-day period has elapsed, the President and
CEO shall determine the amount of the Award that shall be credited on behalf of such Participant
for such Performance Period. In the event that a Participant’s employment terminates during such
Performance Period as a result of death or Disability, such Participant or, if applicable, his
Beneficiary, shall be entitled to a pro rata portion of such Award, based on the ratio of the
number of days in the Performance Period prior to the date of the Participant’s death (or, if
applicable, determination of his Disability) to 365. All determinations of the President and CEO
in this regard shall be conclusive and binding on all Participants for all purposes hereunder.

     2.2 Vesting of Award. A Participant shall not be entitled to any portion of the Award
until such Award is fully vested. A Participant shall vest in the entire amount of the Award
applicable to a Performance Period upon the Vesting Date. Any Award with respect to which a
Participant is not fully vested shall be forfeited on the date on which the Participant’s
employment with the Company is terminated.

ARTICLE III

ACCOUNTS

     3.1 Crediting Accounts. As soon as practicable after each Award Date, the Plan
Administrator shall credit the amount of any Award granted to a Participant pursuant to Section 2.1
hereof to the Account of such Participant. Such Award, without adjustment for deemed income, shall
be paid to the Participant no later than March 15 following the Vesting Date.

ARTICLE IV

DISTRIBUTION

     4.1 Payment of Awards. The Plan Administrator shall pay to the Participant or, if
applicable his Beneficiary, an amount equal to his vested Award for the applicable Performance
Period in a single, lump sum cash payment no later than March 15th of the calendar year
immediately following the applicable Vesting Date. If the Company is required to withhold amounts
to pay the Participant’s portion of the Federal Insurance Contributions Act (FICA) tax imposed
under Code Sections 3101, 3121(a) or 3121(v)(2) with respect to amounts that are or will be paid to
Participant under the Plan before they otherwise would be paid, the Plan Administrator may withhold
an amount equal to the lesser of: (i) the amount in the Participant’s Account or (ii) the
aggregate of the FICA taxes imposed and the income tax withholding related to such amount.

     4.2 Administrative Delay in Payment. The payment of benefits hereunder shall begin at
the date specified in accordance with the provisions of the foregoing paragraphs of this Article
IV;

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provided that, in the case of administrative necessity, the payment of such benefits may be
delayed up to the later of the last day of the calendar year in which payment would otherwise be
made or the 15th day of the third calendar month following the date on which payment
would otherwise be made. Further, if it is not administratively practicable for the Company to
calculate the amount of benefits due to Participant as of the date on which payment would otherwise
be made, the payment may be delayed until the first calendar year in which calculation of the
payment is administratively practicable.

ARTICLE V

ADMINISTRATION OF THE PLAN

     5.1 Plan Administrator. The Plan shall be administered by the President and CEO, who
shall be the Plan Administrator. No person serving as Plan Administrator shall receive
compensation with respect to his services for the performance of his duties hereunder. The Plan
Administrator shall serve without bond or security for the performance of his duties hereunder
unless applicable law makes the furnishing of such bond or security mandatory or unless required by
the Company.

     5.2 Actions of Plan Administrator. The Plan Administrator may appoint any individual
to act hereunder on his behalf. No person serving as Plan Administrator shall vote or decide upon
any matter relating solely to himself or vote in any case in which his individual right or claim to
any benefit under the Plan is particularly involved. In any matter or case in which a person is so
disqualified to act, the President and CEO or, if the President and CEO is so disqualified to act,
the Managing Member of the Company will resolve such matter or case, or will appoint a temporary
substitute to exercise all the powers of the disqualified person concerning the matter or case in
which he is disqualified.

     5.3 Delegation, Expenses and Indemnification. The Plan Administrator may designate
other persons to carry out his responsibilities under the Plan, and may remove any person
designated to carry out his responsibilities under the Plan by notice in writing to that person.
The Plan Administrator may employ persons to render advice with regard to any of his
responsibilities. All usual and reasonable expenses of the Plan Administrator shall be paid by the
Company. The Company shall indemnify and hold harmless each person serving as Plan Administrator
from and against any and all claims and expenses (including, without limitation, attorney’s fees
and related costs), in connection with the performance by such person of his duties in that
capacity, other than any of the foregoing arising in connection with the willful neglect or willful
misconduct of the person so acting.

     5.4 Administrative Duties of President and CEO and Plan Administrator. The President
and CEO shall determine the eligibility of any individual to participate in the Plan and to receive
benefits hereunder. The Plan Administrator shall establish rules, not contrary to the provisions of
the Plan, for the administration of the Plan and the transaction of its business, and shall
interpret the Plan and determine all questions arising in the administration, interpretation and
application of the Plan in its sole and absolute discretion. All determinations of the President
and CEO and the Plan
Administrator shall be conclusive and binding on all Employees, Participants and
Beneficiaries, subject to the provisions of this Plan and applicable law.

3

 

     5.5 Actions of Company. Any action to be taken hereunder by the Company shall be
taken by resolution adopted by the President and CEO; provided, however, that by resolution, the
President and CEO may delegate to any officer of the Company the authority to take any actions
hereunder, other than the power to amend or terminate the Plan.

ARTICLE VI

LIMITATION OF RIGHTS

     The establishment of this Plan shall not be construed as giving to any Employee, Participant
or Beneficiary, or any person whomsoever, any legal, equitable or other rights against the Company,
or its officers, directors, agents or members, or as giving to any Participant or Beneficiary any
equity or other interest in the assets or business of the Company or membership interests in the
Company or as giving any Employee the right to be retained in the employment of the Company. All
Employees shall be subject to discharge to the same extent they would have been if this Plan had
never been adopted. The rights of a Participant hereunder shall be solely those of an unsecured
general creditor of the Company.

ARTICLE VII

LIMITATION OF ASSIGNMENT AND PAYMENTS TO

LEGALLY INCOMPETENT DISTRIBUTEE

     7.1 Non-Alienation. No benefits payable under the Plan to any person shall be subject
in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or
charge, and any attempt to anticipate, alienate, sell, transfer, assign, pledge, encumber, charge
or otherwise dispose of the same shall be void. No benefit shall in any manner be subject to the
debts, contracts, liabilities, engagements or torts of any person, nor shall it be subject to
attachment or legal process for or against any person, except to the extent required by law.

     7.2 Incapacitated Distributee. In the event any benefit payable under the Plan is to
be paid to or for the benefit of any person who is then a minor or determined by the Plan
Administrator, on the basis of qualified medical advice, to be incompetent, the Plan Administrator
need not require the appointment of a guardian or custodian, but shall be authorized to cause the
same to be paid over to the person having custody of the minor or incompetent, or to cause the same
to be paid to the minor or incompetent without the intervention of a guardian or custodian, or to
cause the same to be paid to a legal guardian or custodian of the minor or incompetent, if one has
been appointed, or to cause the same to be used for the benefit of the minor or incompetent.

ARTICLE VIII

AMENDMENT TO OR TERMINATION OF THE PLAN

     The Company reserves the right at any time to amend or terminate the Plan in whole or in part
by resolution of the President and CEO. No amendment shall have the effect of retroactively
changing or depriving Participants or Beneficiaries of rights already accrued under the Plan. In
the event that the Company shall change its name, the Plan shall be deemed to be amended to reflect
the

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name change without further action of the Company, and the language of the Plan shall be
changed accordingly. Upon termination of the Plan, benefits hereunder shall be paid at the time
and in the manner as otherwise provided herein; provided, however, that, notwithstanding the
foregoing, the Company, in its sole and absolute discretion, may accelerate the payment of benefits
hereunder in the event of termination of the Plan.

ARTICLE IX

STATUS OF PARTICIPANT AS UNSECURED CREDITOR

     All benefits under the Plan shall be the unsecured obligations of the Company, and no assets
will be placed in trust or otherwise segregated from the general assets of the Company for the
payment of obligations hereunder. To the extent that any person acquires a right to receive
payments hereunder, such right shall be no greater than the right of any unsecured general creditor
of the Company.

ARTICLE X

GENERAL AND MISCELLANEOUS

     10.1 Severability. In the event that any provision of this Plan shall be declared
illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining
provisions of this Plan but shall be fully severable and this Plan shall be construed and enforced
as if said illegal or invalid provision had never been inserted herein.

     10.2 Construction. The section headings and numbers are included only for convenience
of reference and are not to be taken as limiting or extending the meaning of any of the terms and
provisions of this Plan. Whenever appropriate, words used in the singular shall include the plural
or the plural may be read as the singular. When used herein, the masculine gender includes the
feminine gender.

     10.3 Governing Law. The validity and effect of this Plan and the rights and
obligations of all persons affected hereby shall be construed and determined in accordance with the
laws of the State of Texas unless superseded by federal law.

     10.4 No Requirement to Fund. The Company is not required to set aside any assets for
payment of the benefits provided under this Plan. A Participant shall have no security interest in
any such amounts.

     10.5 Taxes. All amounts payable hereunder shall be reduced by any and all federal,
state and local taxes imposed upon the Participant or his Beneficiary that are required to be paid
or withheld by the Company.

     10.6 Compliance with Tax Laws. Notwithstanding any provision in this Plan to the
contrary, any benefit under this Plan that constitutes a deferral of compensation under a
“nonqualified deferred compensation plan”, as such term is defined under Section 409A(d)(1) of the
Code (or a successor provision thereto), shall comply with the requirements of Section 409A of the

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Code (or a successor provision thereto) and applicable guidance published in the Internal Revenue
Bulletin.

ARTICLE XI

DEFINITIONS

     11.1 “Account” shall mean the record maintained by the Plan Administrator showing the monetary
value of the Awards granted hereunder to each Participant. The term “Account” shall refer only to
a bookkeeping entry and shall not be construed to require the segregation of assets on behalf of
any Participant.

     11.2 “Award” shall mean, for each Performance Period, the total amount awarded to an eligible
Participant with respect to services performed during such period for or on behalf of the Company.

     11.3 “Award Date” shall mean the last day of each Performance Period.

     11.4 “Beneficiary” shall mean each beneficiary designated by a Participant pursuant to a
written beneficiary designation, on a form provided by the Plan Administrator, and executed
specifically with respect to this Plan.

     11.5 “Code” shall mean the Internal Revenue Code of 1986, as it may be amended from time to
time, and the rules and regulations promulgated thereunder.

     11.6 “Company” shall mean Nationstar Mortgage LLC, a limited liability company formed under
the laws of the State of Delaware, or its successor or successors.

     11.7 “Disability” shall mean, as determined by the Company or the Plan Administrator in good
faith, Participant’s inability, due to disability or incapacity, to perform all of his duties on a
full-time basis (a) for a period aggregating 90 days, whether or not continuous, in any continuous
period of 365 days or (b) where Participant’s absence is adversely affecting the performance of the
Company in a significant manner for periods greater than 30 days and Participant does not resume
his duties on a full-time basis within 10 days of receipt of written notice of the Company’s or the
Plan Administrator’s determination under this clause (b).

     11.8 “Effective Date” shall mean January 1, 2007.

     11.9 “Employee” shall mean a common-law employee of the Company.

     11.10 “Participant” shall mean an Employee who has been selected for participation in the Plan
pursuant to Article I hereof and who has not received payment or distribution of all vested
benefits under Article IV.

     11.11 “Performance Period” shall mean each calendar year during which the Plan is in effect.

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     11.12 “Plan” shall mean the Nationstar Mortgage LLC Long-Term Incentive Plan, as amended from
time to time.

     11.13 “Plan Administrator” shall mean the President and CEO.

     11.14 “President and CEO” shall mean the President and Chief Executive Officer of the Company.

     11.15 “Vesting Date” shall mean, with respect to each Award granted under Section 2.1 hereof,
the third anniversary of the applicable Award Date, provided that the Participant continues to be
employed by the Company on such date or, if earlier, the date of termination of the Participant’s
employment with the Company due to death or Disability.

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