Document:

Employment Agreement between Bank and Alfred R. Camner

 EXHIBIT 10.30 
 THIRD AMENDED AND RESTATED 
 BANK EMPLOYMENT AGREEMENT 
 This THIRD AMENDED AND RESTATED EMPLOYMENT
AGREEMENT (“Agreement”) is made and entered into effective as of July 28, 2006 by and between BANKUNITED, FSB, a savings bank organized and operating under the
federal laws of the United States and having an office at 255 Alhambra Circle, Coral Gables, Florida 33134 (“Bank”), and ALFRED R. CAMNER (“Executive”). Any reference to the
“Company” herein shall mean BankUnited Financial Corporation. 
 WITNESSETH: 

WHEREAS, the Company, the Bank and the Executive entered into an Employment Agreement dated as of November 14, 1997, which was amended and
restated April 1, 2002 (the “Second Agreement”) and further amended by amendments dated April 1, 2003, May 13, 2005, December 14, 2005 and June 7, 2006 (collectively, the “Amendments”) pursuant
to which the Executive has served as Chairman of the Board and Chief Executive Officer of the Company and the Bank; and 
 WHEREAS,
the Compensation Committee of the Board of Directors (the “Committee”) has reviewed the Second Amended and the Amendments with the assistance of executive compensation consultants and counsel; and 
 WHEREAS, based on this review, the Committee and the Executive have agreed to amend and restate the Second Agreement; 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants and conditions hereinafter set forth, the Bank and the Executive hereby
agree as follows: 
 Section 1. Employment. 
 The Bank agrees to continue to employ the Executive, and the Executive hereby agrees to such continued employment, during the period and upon the terms and conditions set forth in this Agreement. 
 Section 2. Employment Period; Remaining Unexpired Employment Period. 
 (a) The terms and conditions of this Agreement shall be and remain in effect during the period of employment established under this Section 2
(“Employment Period”). The Employment Period shall be for a term of three years beginning on the date of this Agreement. Prior to the first anniversary of the date of this Agreement and on or prior to each anniversary date thereafter
(each, an “Anniversary Date”), the Board of Directors of the Bank (“Board”) shall review the terms of this Agreement and the Executive’s performance of services hereunder and may, in the absence of objection from the
Executive, approve an extension of the Employment Agreement. In such event, the Employment Agreement shall be extended to the third anniversary of the relevant Anniversary Date. 

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 (b) For all purposes of this Agreement, the term “Remaining Unexpired Employment Period” as
of any date shall mean the period beginning on such date and ending on the Anniversary Date on which the Employment Period (as extended pursuant to Section 2(a) of this Agreement) is then scheduled to expire. 
 (c) Nothing in this Agreement shall be deemed to prohibit the Bank at any time from terminating the Executive’s employment during the Employment
Period with or without notice for any reason; provided, however, that the relative rights and obligations of the Bank and the Executive in the event of any such termination shall be determined under this Agreement. 
 Section 3. Duties. 
 The
Executive shall serve as the Chairman of the Board and Chief Executive Officer of the Bank, having such power, authority and responsibility and performing such duties as are prescribed by or under the By-Laws of the Bank and as are customarily
associated with such position. Except as provided in Section 7 hereof, the Executive shall devote his full business time and attention (other than during weekends, holidays, approved vacation periods, and periods of illness or approved leaves
of absence) to the business and affairs of the Bank and shall use his best efforts to advance the interests of the Bank. 
 Section 4. Compensation. 
 In consideration for the services to be rendered by the Executive hereunder,
commencing on the effective date of this Agreement and as in effect prior thereto, the Bank shall pay to the Executive a salary at an annual rate of Four Hundred and Seventy-Five Thousand and 00/100 Dollars ($475,000), payable in approximately equal
installments in accordance with the Bank’s customary payroll practices for senior officers. In addition, as in effect prior thereto and continuing thereafter, the Bank shall provide the Executive with the opportunity to earn cash in an amount
up to between One Million Dollars and 00/100 Dollars ($1,000,000) and One Million Three Hundred Thousand and 00/100 Dollars ($1,300,000) per fiscal year, dependent upon the satisfaction of short-term compensation goals set by the Compensation
Committee (the “Committee”) of the Bank’s Board of Directors, in a manner that would result in the payment of any compensation upon the achievement of such goals as qualifying as performance-based under section 162(m) of the Internal
Revenue Code of 1986, as amended (the “Code”). The Committee shall set such performance goals for each quarter or other designated short-term period at the beginning of each fiscal year, and shall evaluate whether the goals have
been achieved after the end of each such quarter or period. The amount, if any, determined by the Committee to have been earned based upon such evaluation shall be paid as soon as practicable. Prior to each 

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Anniversary Date occurring during the Employment Period, the Committee shall review the Executive’s annual rate of salary and short-term
performance-based compensation, and may, in its discretion, approve an increase therein. For purposes of Section 9(b)(iv), the term “Salary” shall mean the annual cash salary earned by the Executive pursuant to this Section 4. In
addition to Salary, the Executive may receive other cash or stock compensation from the Bank for services rendered hereunder at such times, including cash bonuses, in such amounts and on such terms and conditions as the Committee, in its discretion,
may determine from time to time, but such additional compensation shall not be considered to be Salary. 
 Section 5. Additional
Employee Benefit Plans and Programs. 
 (a) During the Employment Period, the Executive shall be treated as an employee of the Bank
and shall be entitled to participate in and receive benefits under any and all qualified or non-qualified retirement, pension, savings, profit-sharing or stock bonus plans, any and all group life, health (including hospitalization, medical and major
medical), dental, accident and long term disability insurance plans, and any other employee benefit and compensation plans (including, but not limited to, any incentive compensation plans or programs, stock option and appreciation rights plans and
restricted stock plans) as may from time to time be maintained by, or cover similarly situated executives of, the Bank, in accordance with the terms and conditions of such employee benefit plans and programs and compensation plans and programs and
consistent with the Bank’s customary practices. The Executive’s estate or his designee shall be the beneficiary of life insurance policies on the life of the Executive having a face amount of at least $6,000,000. In the event that the
Executive has or obtains a substitute policy or policies for the life insurance policies which were originally purchased by the Bank to provide coverage of $6,000,000, and cancels or has canceled the original policies, the Bank shall reimburse the
Executive for the costs of such substitute policy or policies to the extent of the amount that the premium on the cancelled policies would have been, had such cancelled policies continued in force. 
 Section 6. Indemnification and Insurance. 
 (a) During the Employment Period and for a period of six (6) years thereafter, the Bank shall cause the Executive to be covered by and named as an insured under any policy or contract of insurance obtained by it
to insure its directors and officers against personal liability for acts or omissions in connection with service as an officer or director of the Bank or service in other capacities at the request of the Bank. The coverage provided to the Executive
pursuant to this Section 6 shall be of the same scope and on the same terms and conditions as the coverage (if any) provided to other officers or directors of the Bank. 
 (b) To the maximum extent permitted under applicable law, during the Employment Period and for a period of six (6) years thereafter, the Bank shall
indemnify the Executive against and hold him harmless from any costs, liabilities, losses and exposures to the 

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fullest extent and on the most favorable terms and conditions that similar indemnification is offered to any director or officer of the Bank or any
subsidiary or affiliate thereof. 
 Section 7. Outside Activities. 
 During the Employment Period, it shall not be a violation of this Agreement and shall not permit the Bank to terminate the Executive’s employment for
Cause if the Executive engages in the activities described below or any activities similar in nature and scope, so long as such activities do not significantly interfere with the performance of the Executive’s responsibilities in accordance
with this Agreement and do not constitute a violation of any applicable law, rule, regulation or code of conduct or policy established by the Bank and applicable to similarly situated executives: (i) engaging in the practice of law, including,
without limitation, as a member of the firm of Camner, Lipsitz and Poller, Professional Association, (ii) serving on industry, corporate, civic or charitable boards or committees, (iii) managing personal investments (including, without
limitation, family-controlled enterprises), or (iv) investing in, advising or serving as an officer or director of other corporations or business entities. It is expressly understood and agreed that to the extent any such activities have been
conducted by the Executive prior to the date of this Agreement, the continued conduct of such activities (or the conduct of activities similar in nature and scope) shall not thereafter be deemed to interfere with the performance of the
Executive’s responsibilities to the Bank. The Executive may also serve as an officer or director of the Bank on such terms and conditions as the Bank and the Company may mutually agree upon, and such service shall not be deemed to materially
interfere with the Executive’s performance of his duties hereunder or otherwise result in a material breach of this Agreement. 
 Section 8. Working Facilities and Expenses. 
 The Executive’s principal place of employment shall be at the
Bank’s executive offices at the address first above written, or at such other location within Coral Gables at which the Bank shall maintain its principal executive offices, or at such other location as the Bank and the Executive may mutually
agree upon. The Bank shall provide the Executive at his principal place of employment with a private office, secretarial services and other support services and facilities including, but not limited to, Internet and Bloomberg Financial Market
Commodities and News Access Subscriptions, cellular telephones, pagers and a lap-top computer, suitable to his position with the Bank and necessary or appropriate in connection with the performance of his assigned duties under this Agreement. The
Bank shall provide to the Executive for his exclusive use an automobile owned or leased by the Bank, or leased by the Executive with reimbursement by the Bank, which shall be a Ford Expedition (or an automobile of similar stature and caliber), to be
used in the performance of his duties hereunder, including commuting to and from his personal residence. The Bank shall reimburse the Executive for his ordinary and necessary business expenses, including, without limitation, all expenses associated
with his business use of the aforementioned automobile, fees for memberships in such clubs and 

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organizations as the Executive and the Bank shall mutually agree are necessary and appropriate for business purposes, and his travel and entertainment
expenses incurred in connection with the performance of his duties under this Agreement, in each case upon presentation to the Bank of an itemized account of such expenses in such form as the Bank may reasonably require. 
 Section 9. Termination of Employment with Severance Benefits. 
 (a) The Executive shall be entitled to and the Bank shall pay the severance benefits and amounts described in Section 9(b) herein in the event that
his employment with the Bank terminates during the Employment Period under any of the following circumstances: 
 (i) The
Executive’s voluntary resignation from employment with the Bank within ninety (90) days of the following: 
 (A) the
failure of the Board to appoint or reappoint or elect or re-elect the Executive to the office of Chairman of the Board or Chief Executive Officer; or 
 (B) the failure of the stockholders of the Bank to elect or re-elect the Executive or the failure of the Board (or the nominating committee thereof) to nominate the Executive for such election or re-election; or

 (C) the expiration of a thirty (30) day period following the date on which the Executive gives written notice to the
Bank of its material failure, whether by amendment of the Bank’s Charter or Bylaws, action of the Board or the Bank’s stockholders or otherwise, to vest in the Executive the functions, duties, or responsibilities prescribed in
Section 3 of this Agreement, unless, during such thirty (30) day period, the Bank cures such failure in a manner determined by the Executive, in his discretion, to be satisfactory; or 
 (D) the expiration of a thirty (30) day period following the date on which the Executive gives written notice to the Bank of its
material breach of any term, condition or covenant contained in this Agreement (including, without limitation, any reduction of the Executive’s rate of base salary in effect from time to time and any change in the terms and conditions of any
compensation or benefit program in which the Executive participates which, either individually or together with other changes, has a material adverse effect on the aggregate value of his total compensation package), unless, during such thirty
(30) day period, the Bank cures such failure in a manner determined by the Executive, in his discretion, to be satisfactory; or 
 (E) the relocation of the executive offices of the Bank, a distance of more than fifteen (15) miles from its current Coral Gables, Florida 

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location or of more than twenty-five (25) miles from the current address of the Executive’s residence as shown in the records of the Bank; or

 (ii) subject to the provisions of Section 10, the termination of the Executive’s employment by the Bank for any
other reason. 
 (b) Upon the termination of the Executive’s employment with the Bank under circumstances described in Section 9(a)
of this Agreement, the Bank shall pay and provide to the Executive (or, in the event of his death following such termination of employment, provide to his estate): 
 (i) his earned but unpaid Salary and other compensation (including, without limitation, all items which constitute wages under applicable
state law and the payment of which is not otherwise provided for under this Section 9(b)) as of the date of the termination of his employment with the Bank, such payment to be made at the time and in the manner prescribed by law applicable to
the payment of wages but in no event later than thirty (30) days after termination of employment; plus 
 (ii) the
benefits, if any, to which he is entitled as a former employee under the employee benefit plans and programs and compensation plans and programs maintained for the benefit of the officers and employees of the Bank; plus 
 (iii) continued group life, health (including hospitalization, medical, major medical and any supplemental insurance coverages), dental,
accident and long term disability insurance benefits, in addition to that provided pursuant to Section 9(b)(ii), and after taking into account the coverage provided by any subsequent employer, if and to the extent necessary to provide for the
Executive and his dependents, for the Remaining Unexpired Employment Period or to age 65, whichever is later, coverage equivalent to the coverage to which he would have been entitled under such plans (as in effect on the date of his termination of
employment, or, if his termination of employment occurs after a Change in Control, on the date of such Change in Control, whichever benefits are greater), if he had continued working for the Bank during the Remaining Unexpired Employment Period at
the highest annual rate of Salary achieved during that portion of the Employment Period which is prior to the Executive’s termination of employment with the Bank, subject to the maximum insurance amounts specified under the Bank’s
policies, and with such continued coverages to be provided to the Executive at the Bank’s expense through COBRA or in any other manner determined by the Committee, to be appropriate including, but not limited to, through the purchase of an
individual policy or policies; plus 

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 (iv) within thirty (30) days following his termination of employment with the
Bank, a lump sum payment, in an amount equal to the greater of (A) or (B) where: 
 (A) is five times the following:
the sum of (1) the highest Salary awarded to the Executive for any of the five fiscal years 2002 through 2006, (2) the highest cash bonuses awarded to the Executive for any of the five fiscal years 2002 through 2006, and
(3) the highest cash value of restricted stock grants awarded to the Executive for any one of the five fiscal years 2002 through 2006 (provided, however, that the cash value of the restricted stock grants (determined as of the date of
each such grant) included in the calculation will be included only up to an amount which equals fifty percent (50%) of the total of the highest Salary and highest cash bonuses awarded to the Executive in any of the fiscal years 2002
through 2006), and 
 (B) three times the following: the sum of (1) the highest Salary awarded to the Executive for any
of the five fiscal years preceding the Executive’s termination of employment with the Company, (2) the highest cash bonuses awarded to the Executive for any of the five fiscal years preceding the Executive’s termination of employment
with the Company, and (3) the highest cash value of restricted stock grants awarded to the Executive for any one of the five fiscal years preceding the Executive’s termination of employment with the Company (provided that the cash value of
the restricted stock grants shall be determined as of the date of each such grant); plus 
 (v) within thirty (30) days
following his termination of employment with the Bank, a lump sum payment in an amount equal to the present value of the additional employer contributions to which he would have been entitled under any and all qualified and non-qualified defined
contribution plans maintained by, or covering employees of, the Bank, if he were 100% vested thereunder and had continued working for the Bank during the Remaining Unexpired Employment Period at the highest annual rate of compensation achieved
during that portion of the Employment Period which is prior to the Executive’s termination of employment with the Bank, and making the maximum amount of employee contributions, if any, required under such plan or plans, such present value to be
determined on the basis of a discount rate, compounded using the compounding period that corresponds to the frequency with which employer contributions are made to the relevant plan, equal to a discount rate, compounded monthly equal to the
annualized rate of interest prescribed by the Pension Benefit Guaranty Corporation for the valuation of immediate annuities payable under a terminating single-employer defined benefit plan for the month in which the Executive’s termination of
employment occurs; plus 

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 (vi) at the election of the Bank made within thirty (30) days following the
Executive’s termination of employment with the Bank, subject to the consent of the Executive, which shall not be unreasonably withheld, upon the surrender of options or appreciation rights issued to the Executive under any stock option and
appreciation rights plan or program maintained by, or covering employees of, the Bank a lump sum payment in an amount equal to the product of: 
 (A) the excess of (I) the fair market value of a share of stock of the same class as the stock subject to the option or appreciation right, determined as of the date of termination of employment, over (II) the
exercise price per share for such option or appreciation right, as specified in or under the relevant plan or program; multiplied by 
 (B) the number of shares with respect to which options or appreciation rights are being surrendered. 
 For purposes of this Section 9(b)(vi)
and for purposes of determining the Executive’s right following his termination of employment with the Bank to exercise any options or appreciation rights not surrendered pursuant hereto, the Executive shall be deemed fully vested in all
options and appreciation rights under any stock option or appreciation rights plan or program maintained by, or covering employees of, the Bank, even if he is not vested under such plan or program; plus 
 (vii) at the election of the Bank made within thirty (30) days following the Executive’s termination of employment with the
Bank, subject to the consent of the Executive, which shall not be unreasonably withheld, upon the surrender of any shares awarded to the Executive under any restricted stock plan maintained by, or covering employees of, the Bank a lump sum payment
in an amount equal to the product of: 
 (A) the fair market value of a share of stock of the same class of stock granted
under such plan, determined as of the date of the Executive’s termination of employment; multiplied by 
 (B) the number
of shares which are being surrendered. 
 For purposes of this Section 9(b)(vii) and for purposes of determining the Executive’s right following
his termination of employment with the Bank to any stock not surrendered pursuant hereto, the Executive shall be deemed fully vested in all shares awarded under any restricted stock plan maintained by, or covering employees of, the Bank, even if the
shares are not vested or earned under such plan; plus 
 (viii) with the following: (A) the personal use, at the
Bank’s expense for the Remaining Unexpired Employment Period, of a late model automobile comparable to that used by the Executive prior to his termination of employment; (B) the right of the 

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Executive to purchase, at book value, the membership in up to two country clubs which the Bank has maintained for the benefit of the Executive; (C) the
transfer to the Executive of the life insurance policies that the Bank maintains on the life of the Executive as part of his benefits in accordance with Section 5; (D) the continued use, at the Bank’s expense for the Remaining
Unexpired Employment Period, of the secretarial services, Internet and Bloomberg Financial Market Commodities and News Access Subscriptions, cellular telephones, pagers and the lap-top computer which had been provided to the Executive immediately
prior to his termination of employment, and (E) the right of the Executive to purchase, at book value as shown or calculated in the records of the Bank, the furnishings of his office at the Bank; and plus 
 (ix) any and all deferred compensation, including Deferred Option Shares, shall be released and paid to the Executive, except to the
extent that such acceleration would result in an excise tax under Section 409 of the Internal Revenue Code. 
 The Bank and the Executive hereby
stipulate that the damages which may be incurred by the Executive following any such termination of employment are not capable of accurate measurement as of the date first above written and that the payments and benefits contemplated by this
Section 9(b) constitute reasonable damages under the circumstances and shall be payable without any requirement of proof of actual damage and without regard to the Executive’s efforts, if any, to mitigate damages. In no event shall any of
the foregoing provisions of this Section 9(b) entitle the Executive to additional grants of statutory or non-statutory options to purchase shares of common stock of the Company or the Bank pursuant to any incentive stock option plan then in
effect. 
 (c) The Bank and the Executive further agree that the Bank may condition the payments and benefits (if any) due under Sections
9(b)(iii), (iv), (v) and (viii) on 
 (i) the receipt of the Executive’s resignation from any and all positions
which he holds as an officer of the Company, the Bank or any subsidiary or affiliate of either of them; provided that the Executive may elect to remain as a non-chairman director on the Board of Directors, notwithstanding his resignation as Chairman
of the Board; 
 (ii) the Executive’s making an offer to the Board of Directors to resign as a director of the Bank or a
member of a committee of the Board; provided, however, that the Executive’s resignation shall only be final if all of the members of the Board not including Family Members, as defined in Rule 4200(a)(14) of the Nasdaq Stock Market vote to
accept the offer, at the time the offer is made; and 

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 (iii) if termination occurs other than as specified in Section 11 for
termination upon or following a change in control, the execution by the Executive of covenants not to compete with the business of the Bank or its affiliates or solicit business customers or employees of the Bank or its affiliates for a period of
twelve (12) months following the date of such payment, such covenants to contain substantially the terms attached as Exhibit C to this Agreement. 
 (d) Notwithstanding any provision of this Agreement to the contrary, no payment or benefit will be made to the Executive under this Section 9 prior to the expiration of six months from the date of his termination
of employment if such payment or benefit will result in the imposition of an excise tax under Code section 409A. 
 (i) with
respect to the benefits described in Section 9(b)(viii)(A) and (D), if necessary for compliance with section 409A of the Code, the Executive will, for the six-month period commencing with his termination of employment, pay the Bank its cost of
providing such benefits. Such payment shall be made on the first business day of each month during this period for the prior month. At the end of the six-month period following Executive’s termination of employment, the Bank will reimburse him
for the payments made during the six-month period. 
 (ii) with respect to the benefits described in
Section 9(b)(viii)(A) and (D), during the Remaining Unexpired Employment Period after the first six-month period, the Bank shall make the payments for such benefits within 30 days of the annual billing for such benefits. 
 Section 10. Termination without Additional Bank Liability. 
 (a) In the event that the Executive’s employment with the Bank shall terminate during the Employment Period on account of: 
 (i) the discharge of the Executive for “cause,” which, for purposes of this Agreement shall mean: (A) the Executive
intentionally engages in dishonest conduct in connection with his performance of services for the Bank resulting in his conviction of a felony; (B) the Executive is convicted of, or pleads guilty or nolo contendere to, a criminal act
which is a felony; (C) the Executive willfully and materially breaches his fiduciary duties to the Bank for personal profit; (D) the Executive’s willful and material breach or violation of any law, rule or regulation (other than
traffic violations or similar offenses), or receipt of a final cease and desist order in connection with his performance of services for the Bank (or) (E) the Executive’s willful and material breach of this Agreement or the Bank’s
Code of Conduct or Insider Trading Policy, in the forms attached as Exhibits A and B to this Agreement, if, in the opinion of the Bank’s Board, such breach is so material in nature that it causes an extraordinary disruption adverse to 

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the Bank, and no exception or waiver applying to the breach is granted by the Bank’s Board or an authorized committee thereof; or 
 (ii) the Executive’s voluntary resignation from employment with the Bank for reasons other than those specified in Section 9(a);

 then, except as provided in Sections 10(b) and (c), the Bank shall have no further obligations under this Agreement, other than the payment to the
Executive (or, in the event of his death, to his estate) of his earned but unpaid Salary and any and all deferred compensation, including Deferred Option Shares, as of the date of the termination of his employment, and the provision of such other
benefits, if any, to which he is entitled as a former employee under the employee benefit plans and programs and compensation plans and programs maintained by, or covering employees of, the Bank. 
 (b) For purposes of Section 10(a)(i)(C) or (D), no act or failure to act, on the part of the Executive, shall be considered “willful”
unless it is done, or omitted to be done, by the Executive in bad faith or without reasonable belief that the Executive’s action or omission was in the best interests of the Bank. Any act, or failure to act, based upon authority given pursuant
to a resolution duly adopted by the Board or based upon the written advice of counsel for the Bank shall be conclusively presumed to be done, or omitted to be done, by the Executive in good faith and in the best interests of the Bank. The cessation
of employment of the Executive shall not be deemed to be for “cause” within the meaning of Section 10(a)(i) unless and until: 
 (i) the Board first holds a meeting, as to which the Executive was provided thirty (30) days advance written notice and an opportunity to be heard, and such notice specifies in detail the action or inaction
alleged to constitute cause and demanding that he remedy such action or inaction; and 
 (ii) the Executive shal1 not have
remedied such action or inaction allegedly constituting cause within sixty (60) days after his receipt of such written notice; and 
 (iii) after such sixty-day period there shall have been delivered to the Executive a Notice of Termination and a certified copy of a resolution duly adopted by the affirmative vote of at least three-fourths of the
non-employee members of the Board at a special meeting of the Board at which he was given an opportunity to appear with legal counsel of his choosing to refute any allegations of cause, which meeting was called and held for the purpose of finding
that, in the good faith opinion of the Board, the Executive’s action or inaction constituted cause and he did not remedy such action or inaction after demand by the Board. 

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 (c) Nothing in Section 10(b) shall, prior to delivery of a Notice of Termination as provided
herein, be deemed to suspend or extinguish the Executive’s entitlement to receive the compensation and other benefits provided under this Agreement. In addition, the Bank shall pay reasonable costs and attorneys’ fees incurred by the
Executive in connection with any Board action pursuant to Section 10(b) in the event that the Board does not determine that cause exists in accordance with the procedures in said section. In the event that the Bank terminates the Executive for
cause and, within 30 days after receipt of the Notice of Termination, the Executive notifies the Bank that he disputes such termination, the Executive shall still be subject to the duties set forth in Section 3 and entitled to receive the
compensation provided under this Agreement until a final and binding judgment is rendered by a court of competent jurisdiction finding that the termination was properly for cause, or until the expiration of a period not to exceed twenty-four
(24) months, whichever occurs first. In the event that the termination is found to be properly for cause, all payments subsequent to termination to which the Executive would not otherwise be entitled shall be recoverable by the Bank, except to
the extent such payments constitute reasonable compensation for services rendered. During such contest period, all insurance benefits shall be maintained and shall not be recoverable if the termination is sustained for cause. 
 Section 11. Termination Upon or Following a Change in Control. 
 (a) A Change in Control of the Bank (“Change in Control”) shall be deemed to have occurred upon the happening of any of the following events:

 (i) the consummation of a transaction that effects the reorganization, merger or consolidation of the Bank, respectively,
with one or more other persons, other than a transaction following which: 
 (A) at least 51% of the equity ownership
interests of the entity resulting from such transaction are beneficially owned (within the meaning of Rule 13d-3 promulgated under the Exchange Act) in substantially the same relative proportions by persons who, immediately prior to such
transaction, beneficially owned (within the meaning of Rule 13d-3 promulgated under the Exchange Act) at least 51 % of the outstanding equity ownership interests in the Bank; and 
 (B) securities representing at least 51% of the votes entitled to be cast by securities entitled to vote generally in the election of
directors of the entity resulting from such transaction are beneficially owned (within the meaning of Rule 13d-3 promulgated under the Exchange Act) in substantially the same relative proportions by persons who, immediately prior to such
transaction, beneficially owned (within the meaning of Rule 13d-3 promulgated under the 

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Exchange Act) securities representing at least 51% of the votes entitled to be cast by securities entitled to vote generally in the election of directors of
the Bank; 
 (ii) the acquisition of all or substantially all of the assets of the Bank or beneficial ownership (within the
meaning of Rule 13d-3 promulgated under the Exchange Act) of outstanding securities of the Bank representing 20% or more of the votes entitled to be cast by securities entitled to vote generally in the election of directors, by any person or by any
persons acting in concert (other than the Executive or any member of his family or an entity, person, or group acting in concert with him or his family or on his behalf), or approval by the stockholders of the Bank of any transaction which would
result in such an acquisition; 
 (iii) a complete liquidation or dissolution of the Bank, or approval by the stockholders of
the Bank of a plan for such liquidation or dissolution; 
 (iv) the occurrence of any event if, immediately following such
event, at least 50% of the members of the board of directors of the Bank do not belong to any of the following groups: 
 (A)
individuals who were members of the Board of the Bank on the date of this Agreement; or 
 (B) individuals who first became
members of the Board of the Bank after the date of this Agreement either: 
 (I) upon election to serve as a member of the
Board of the Bank by the affirmative vote of a majority of the members of such Board, or of a nominating committee thereof, in office at the time of such first election; or 
 (II) upon election by the stockholders to serve as a member of the Board, but only if nominated for election by the affirmative vote of a
majority of the members of the Board, or of a nominating committee thereof, in office at the time of such first nomination; 
 provided, however, that
such individual’s election or nomination did not result from an actual or threatened election contest (within the meaning of Rule 14a-l1 of Regulation 14A promulgated under the Exchange Act) or other actual or threatened solicitation of proxies
or consents (within the meaning of Rule 14a-ll of Regulation 14A promulgated under the Exchange Act) other than by or on behalf of the Board of the Bank; or 
 (v) any event which would be described in Section 11 (a)(i), (ii), (iii) or (iv) if the term “Company” were
substituted for the term “Bank” therein. 

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 In no event, however, shall a Change in Control be deemed to have occurred as a result of any acquisition of
securities or assets of the Company, the Bank, or a subsidiary of either of them, by the Company, the Bank, or a subsidiary of either of them, or by any employee benefit plan maintained by any of them. For purposes of this Section 11 (a), the
term “person” shall have the meaning assigned to it under sections 13(d)(3) or 14(d)(2) of the Exchange Act. 
 (b) In the event of
a Change in Control, the Executive shall be entitled to the payments and benefits contemplated by Section 9(b) in the event of his termination of employment with the Bank under any of the circumstances described in Section 9( a) of this
Agreement or under any of the following circumstances: 
 (i) resignation, voluntary or otherwise, by the Executive at any
time during the Employment Period following his demotion, loss of title, office or significant authority or responsibility, or following any reduction in any element of his package of compensation and benefits; 
 (ii) resignation, voluntary or otherwise, by the Executive at any time during the Employment Period following any relocation of his
principal place of employment or any change in working conditions at such principal place of employment which the Executive, in his reasonable discretion, determines to be embarrassing, derogatory or otherwise adverse; 
 (iii) resignation, voluntary or otherwise, by the Executive at any time during the Employment Period following the failure of any
successor to the Bank in the Change in Control to include the Executive in any compensation or benefit program maintained by it or covering any of its executive officers, unless the Executive is already covered by a substantially similar plan of the
Bank which is at least as favorable to him; or 
 (iv) resignation, voluntary or otherwise, for any reason whatsoever
following the effective date of the Change in Control, but within 36 months of such date. 
 (c) Payments and benefits under
Section 11(b) are subject to the provisions of Section 9(d). 
 Section 12. Termination of Employment Due to Death or
Disability. 
 (a) In the event that the Executive’s employment with the Bank shall terminate during the Employment Period on
account of: 
 (i) the Executive’s death; or 
 (ii) a determination that the Executive is eligible for long-term disability benefits under the Bank’s long-term disability insurance
program or, if there is no such program, under the federal Social Security Act; 

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 then, subject to the provisions of subsection 12(b) and the next immediately succeeding sentence, to be applicable in
the event of the Executive’s death, the Bank shall have no further obligations under this Agreement, other than the payment to the Executive (or, in the event of his death, to his estate) of his earned but unpaid Salary and any other
compensation and any and all deferred compensation, including Deferred Option Shares, as of the date of the termination of his employment, and the provision of such other benefits, if any, to which he is entitled as a former employee under the
employee benefit plans and programs and compensation plans and programs maintained by, or covering employees of, the Bank. Such benefits shall include, without limitation, all stock option and restricted stock granted to the Executive prior to his
death, which, as provided under the terms of the stock option agreements and restricted stock agreements, shall become fully vested in the event of the Executive’s death. In the event of the Executive’s death, the payments and benefits
described in Sections 9(b )(ii), 9(b )(iii) and 9(b )(viii)(A), (B) and (C) hereof shall be provided to the Executive’s surviving spouse, provided the Bank’s obligation to provide the Executive’s surviving spouse with
continued health coverage under Section 9(b)(iii) shall continue until she becomes eligible for Medicare, and further provided that after her attainment of Medicare eligibility, the Bank shall provide the Executive’s surviving spouse with
a monthly payment equivalent to the premium payable at such time for a Medicare supplemental health insurance policy that is sufficient to ensure that her Medicare coverage is at least equivalent or substantially similar to her prior health
insurance coverage with the Bank. 
 (b) Notwithstanding the provisions of subsection 12(a) hereof, in the event a Change in Control
(as defined in Section 11 of this Agreement) occurs within eighteen (18) months following the effective date of the Executive’s termination of employment with the Bank due to his death or disability, the Executive (or his estate, in
the event of his death) shall be entitled to receive the payments and benefits that would have been paid to the Executive pursuant to Section 9(b) of this Agreement assuming the Executive’s employment with the Bank had terminated following
the date such Change in Control occurs; provided, however, the Bank’s obligations under this Section 12(b) shall be offset by any compensation, benefits or perquisites previously provided to the Executive’s surviving spouse
pursuant to Section 12(a) hereof as a result of the Executive’s death during the Employment Period. In the event that an agreement for a transaction that would constitute a Change in Control has been executed within the eighteen
(18) month period prior to the Executive’s termination of employment with the Bank due to his death or disability, but final regulatory or shareholder approval of such transaction has not been obtained within the eighteen (18) month
period, the provisions of this subsection 12(b) shall extend beyond the eighteen (18) month period until the time such regulatory and shareholder approval is obtained. For purposes of the compensation, benefits or perquisites to be provided to
the Executive pursuant to Section 9(b) of this Agreement, the Executive’s “employment termination date” shall be the date immediately following the date such Change in Control occurs and any elections permitted to be made by the
Executive pursuant to Section 9(b) may be made by the Executive or his legally appointed representative, whatever the case may be. 

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 Section 13. No Effect on Employee Benefit Plans or Programs. 
 The termination of the Executive’s employment during the term of this Agreement or thereafter, whether by the Bank or by the Executive, shall have no
effect on the rights and obligations of the parties hereto under the Bank’s qualified or non-qualified retirement, pension, savings, thrift, profit-sharing or stock bonus plans, group life, health (including hospitalization, medical and major
medical), dental, accident and long term disability insurance plans or such other employee benefit plans or programs, or compensation plans or programs, as may be maintained by, or cover employees of, the Bank from time to time. 
 Section 14. Successors and Assigns. 
 This Agreement will inure to the benefit of and be binding upon the Executive, his legal representatives and testate or intestate distributees, and the Bank and its successors and assigns, including any successor by
merger or consolidation or a statutory receiver or any other person or firm or corporation to which all or substantially all of the assets and business of the Bank may be sold or otherwise transferred. Failure of the Bank to obtain from any
successor its express written assumption of the Bank’s obligations hereunder at least sixty (60) days in advance of the scheduled effective date of any such succession shall be deemed a material breach of this Agreement. 
 Section 15. Notices. 
 Any
communication required or permitted to be given under this Agreement, including any notice, direction, designation, consent, instruction, objection or waiver, shall be in writing and shall be deemed to have been given at such time as it is delivered
personally, or five (5) days after mailing if mailed, postage prepaid, by registered or certified mail, return receipt requested, addressed to such party at the address listed below or at such other address as one such party may by written
notice specify to the other party: 
 If to the Executive: 
 Mr. Alfred R. Camner 
 c/o Camner, Lipsitz and Poller, P.A. 
 550 Biltmore Way 
 Suite 700 
 Coral Gables, Florida 33134 

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 with a copy to: 
 Camner, Lipsitz and Poller, P.A. 
 550 Biltmore Way 
 Suite 700 
 Coral Gables, Florida 33134

 Attention: Managing Director 
 If to the Bank: 
 BankUnited, FSB, 
 255 Alhambra Circle 
 Coral Gables, Florida 33134 
 Attention: Compensation Committee of the Board of Directors 
 with a copy to: 
 Morgan, Lewis & Bockius LLP 
 1111 Pennsylvania Avenue 
 Washington, DC
20004 
 Attention: Linda L. Griggs, Esq. 
 Section 16. Indemnification for Attorneys’ Fees. 
 The Bank shall indemnify, hold
harmless and defend the Executive against reasonable costs, including legal fees, incurred by him in connection with or arising out of any action, suit or proceeding in which he may be involved, as a result of his efforts, in good faith, to defend
or enforce the terms of this Agreement; provided, however, that the Executive shall have substantially prevailed on the merits pursuant to a judgment, decree or order of a court of competent jurisdiction or of an arbitrator in an arbitration
proceeding, or in a settlement. For purposes of this Agreement, any settlement agreement which provides for payment of any amounts in settlement of the Bank’s obligations hereunder shall be conclusive evidence of the Executive’s
entitlement to indemnification hereunder, and any such indemnification payments shall be in addition to amounts payable pursuant to such settlement agreement, unless such settlement agreement expressly provides otherwise. 
 Section 17. Severability. 
 A determination that any provision of this Agreement is invalid or unenforceable shall not affect the validity or enforceability of any other provision hereof. 

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 Section 18. Waiver. 
 Failure to insist upon strict compliance with any of the terms, covenants or conditions hereof shall not be deemed a waiver of such term, covenant, or
condition. A waiver of any provision of this Agreement must be made in writing, designated as a waiver, and signed by the party against whom its enforcement is sought. Any waiver or relinquishment of any right or power hereunder at any one or more
times shall not be deemed a waiver or relinquishment of such right or power at any other time or times. 
 Section 19.
Counterparts. 
 This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, and
all of which shall constitute one and the same Agreement. 
 Section 20. Governing Law. 
 This Agreement shall be governed by and construed and enforced in accordance with the federal laws of the United States and, to the extent that federal
law is inapplicable, in accordance with the laws of the State of Florida applicable to contracts entered into and to be performed entirely within the State of Florida. 
 Section 21. Headings and Construction. 
 The headings of sections in this Agreement are
for convenience of reference only and are not intended to qualify the meaning of any section. Any reference to a section number shall refer to a section of this Agreement, unless otherwise stated. 
 Section 22. Entire Agreement; Modifications. 
 This instrument contains the entire agreement of the parties relating to the subject matter hereof, and supersedes in its entirety any and all prior agreements, understandings or representations relating to the
subject matter hereof. No modifications of this Agreement shall be valid unless made in writing and signed by the parties hereto. Executive acknowledges that the Committee may direct the Company’s management to investigate the feasibility of
establishing a plan under which the Executive may become eligible to receive retirement benefits, in the event of his retirement from service with the Company and its affiliates. Executive acknowledges and agrees that, in the event that the
Committee determines to approve and adopt such a plan, the Committee may condition such approval and adoption of the plan upon such revisions to the severance benefits, and amounts described in Section 9(b) of this Agreement as the Committee
deems necessary or appropriate in consideration of the Executive’s total compensation package, including projected retirement benefits. 

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 Section 23. Required Regulatory Provisions. 
 The following provisions are included for the purposes of complying with various laws, rules and regulations applicable to the Bank: 
 (a) Notwithstanding anything herein contained to the contrary, in no event shall the aggregate amount of compensation payable to the Executive under
Section 9(b) hereof (exclusive of amounts described in Section 9(b)(i)) exceed the lesser of (i) three times the Executive’s average annual total compensation for the last five consecutive calendar years to end prior to his
termination of employment with the Bank (or for his entire period of employment with the Bank if less than five calendar years) and (ii) the maximum amount that may be paid without producing an “excess parachute payment” (as such term
is defined in section 28OG of the Code), the applicability of such provision to the Executive and any such maximum amount to be determined in good faith by the firm of independent certified public accountants regularly retained to audit the
Bank’s books and records. 
 (b) Notwithstanding anything herein contained to the contrary, any payments to the Executive by the Bank,
whether pursuant to this Agreement or otherwise, are subject to and conditioned upon their compliance with section 18(k) of the Federal Deposit Insurance Act (“FDI Act”), 12 U.S.C. §1828(k), and any regulations promulgated thereunder.

 (c) Notwithstanding anything herein contained to the contrary, if the Executive is suspended from office and/or temporarily prohibited
from participating in the conduct of the affairs of the Bank pursuant to a notice served under section 8(e)(3) or 8(g)(1) of the FDI Act, 12 U. S. C. §1818(e)(3) or 1818(g)(1), the Bank’s obligations under this Agreement shall be suspended
as of the date of service of such notice, unless stayed by appropriate proceedings. If the charges in such notice are dismissed, the Bank, in its discretion, may (i) pay to the Executive all or part of the compensation withheld while the
Bank’s obligations hereunder were suspended and (ii) reinstate, in whole or in part, any of the obligations which were suspended. 
 (d) Notwithstanding anything herein contained to the contrary, if the Executive is removed and/or permanently prohibited from participating in the conduct of the Bank’s affairs by an order issued under section 8(e)(4) or 8(g)(1) of the
FDI Act, 12 U.S.C. §1818(e)(4) or (g)(1), all prospective obligations of the Bank under this Agreement shall terminate as of the effective date of the order, but vested rights and obligations of the Bank and the Executive shall not be affected.

 (e) Notwithstanding anything herein contained to the contrary, if the Bank is in default (within the meaning of section 3(x)(1) of the FDI
Act, 12 U.S.C. §1813(x)(1)), all prospective obligations of the Bank under this Agreement shall terminate as of the date of default, but vested rights and obligations of the Bank and the Executive shall not be affected. 
 (f) Notwithstanding anything herein contained to the contrary, all prospective obligations of the Bank hereunder shall be terminated, except to the
extent that a continuation of 

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this Agreement is necessary for the continued operation of the Bank: (i) by the Director of the Office of Thrift Supervision (“OTS”) or his
designee or the Federal Deposit Insurance Corporation (“FDIC”), at the time the FDIC enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in section 13(c) of the FDI Act, 12 U.S.C.
§1823(c); (ii) by the Director of the OTS or his designee at the time such Director or designee approves a supervisory merger to resolve problems related to the operation of the Bank or when the Bank is determined by such Director to be in
an unsafe or unsound condition. The vested rights and obligations of the parties shall not be affected. 
 If and to the extent that any of the foregoing
provisions shall cease to be required or by applicable law, rule or regulation, the same shall become inoperative as though eliminated by formal amendment of this Agreement. 
 Section 24. Confidentiality and Non-Disparagement 
 (a) The Executive acknowledges that, during the Term of this Agreement, he will learn or be privy to valuable confidential business information, and he will develop and cultivate on behalf of the Bank substantial
relationships with past, present and prospective business customers of the Bank. During the term of this Agreement with the Bank, and thereafter, Executive will not, directly or indirectly, use or disclose to anyone, or authorize disclosure of any
confidential information or trade secrets except for the benefit of the Bank. 
 (b) The Executive acknowledges that the confidentiality of
the protected information with which the Executive has been or may become privy is essential and proprietary to the Bank and is owned and shall continue to be owned by the Bank. The Executive agrees that at the termination of his employment, for
whatever reason, he will return to the Bank immediately any and all documents in whatever form that are in his possession or control and that contain, reflect or refer to confidential information or trade secrets. 
 (c) The Executive and the Bank warrant that it is their intention to agree to restrictions on disclosure of confidential information that are as broad as
permitted by Florida law and hereby agree to subscribe to any expansion of the recited agreements as may be authorized by any subsequent amendment to, or interpretation of, Florida law. 
 (d) The parties further agree that they shall not say, write or otherwise communicate in any manner to any person or entity anything derogatory about the
other party, regardless of the truth or falsity of such information, subject, however, to such disclosures as may be required for legal or regulatory purposes. 
 The Executive acknowledges that this Section 24 is reasonably necessary to protect the business interest of the Bank and agrees that, if he engages in activities prohibited by Section 24, irreparable harm to
the Bank will likely result, for which is a remedy in the form of damages may not be ascertainable. Under such circumstances, the Executive acknowledges that the Bank may seek temporary, preliminary or permanent injunctive relief against him in any
court of competent jurisdiction upon three days written notice provided to the address listed in Section 15. This Section shall not limit any other legal or equitable remedies that the Bank or its successors may have against the Executive for
violation of this Agreement. The prevailing party in any action to enforce this Section 24 of this Agreement shall be entitled to attorney’s fees and costs. 

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 IN WITNESS WHEREOF, the Bank has
caused this Agreement to be executed and the Executive has hereunto set his hand, all as of the day and year first above written. 
  

									
	ATTEST	 		 	BANKUNITED FINANCIAL CORPORATION
					
	By:	 	/s/ Lawrence Blum	 		 	By:	 	/s/ Ramiro A. Ortiz
	Name:	 	Lawrence Blum	 		 	Name:	 	Ramiro A. Ortiz
	Title:	 	Secretary	 		 	Title:	 	President and Chief Operating Officer
			
	[seal]	 		 	EXECUTIVE
				
		 		 		 	/s/ Alfred R. Camner
		 		 		 	ALFRED R. CAMNER
		 		 		 	Chairman of the Board and Chief Executive Officer

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 Exhibit List 
 Exhibit A
– Code of Conduct 
 Exhibit B – Insider Trading Policy 
 Exhibit C – Terms of Covenant Not to CompeteEmployment Agreement between BankUnited and Ramiro A. Oritz

 EXHIBIT 10.31 
 AMENDED AND RESTATED 
 EMPLOYMENT AGREEMENT 
 THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (“Agreement”) is made and entered into as of the 28th day of July, 2006 by and between Ramiro Ortiz (hereinafter the “Executive”) and BankUnited Financial Corporation, a Florida corporation
“BankUnited” or the “Company”). 
 Recitals 
 WHEREAS, the Company and the Executive entered into an Employment Agreement dated as of August 2l, 2002 (“Prior Agreement”)
pursuant to which the Executive has served as President and Chief Operating Officer of the Company; and 
 WHEREAS, the prior
Agreement is scheduled to expire on September 30, 2008; and 
 WHEREAS, the Company desires to assure the continued availability
of the Executive’s services and the ability of the Executive to perform such services with a minimum of personal distraction or concern for his future employment; and 
 WHEREAS, the Executive is willing to continue to serve in the employ of the Company on such basis; and 
 WHEREAS, the Company and the Executive each hereby agree that in order to achieve the foregoing objectives it is necessary to amend and restate
the terms and conditions of the Prior Agreement, as set forth herein; 
 NOW, THEREFORE, in consideration of the premises and the
mutual covenants and conditions hereinafter set forth, the Company and the Executive hereby agree as follows: 
 l. Definitions. In
addition to the words and terms defined elsewhere in this Agreement, the following words and terms as used herein shall have the meanings as set forth below, unless the context or use indicates a different meaning: 
 (a) “Date of Termination” means the date of receipt of a Notice of Termination or any later date specified therein, as
the case may be; provided, however, that if the Executive’s employment is terminated by reason of the Executive’s death or Disability, the Date of Termination shall be the date of death of the Executive or the Disability Effective Date, as
the case may be. 
 (b) “Disability” means any physical or mental condition that prevents the Executive from
performing the essential function of his position for at least three (3) months after the commencement of such condition and that is determined to be of a permanent duration by a physician acceptable to the Company and the Executive or the

  

 1 

 
Executive’s legal representative (such agreement as to acceptability not to be unreasonably withheld). If the Company determines in good faith that the
Disability of the Executive has occurred, and that it cannot reasonably accommodate as defined by law it may give to the Executive written notice of its intention to terminate the Executive’s employment. In such event, the Executive’s
employment with the Company shall terminate effective as of the Disability Effective Date, provided that the Executive shall not have returned to full-time performance of the Executive’s duties prior to the Disability Effective Date. Any
subsequent different Disability shall not be deemed a continuation of a prior Disability, and the determination of time periods for the purposes of this provision shall recommence. Any dispute shall be resolved by arbitration as provided in
Section 24. 
 (c) “Disability Effective Date” means the date thirty (30) days following receipt by
the Executive of notice from the Company of the Company’s intention to terminate the Executive’s employment because of the Executive’s Disability. 
 (d) “Notice of Termination” means a written notice that (i) indicates the specific termination provision in this
Agreement relied upon, (ii) in the case of termination for Cause, sets forth circumstances claimed to provide a basis for termination of the Executive’s employment for Cause in reasonable detail and includes the resolution of the Board
regarding the termination of the Executive’s employment for Cause, and (iii) if the Date of Termination is other than the date of receipt of such notice, specifies the termination date. 
 (e) “Change of Control Payment” means a lump sum cash payment to the Executive by the Company in an amount which equals
the greater of either: (i) two (2) times the Executive’s Base Salary (as defined below) for the year in which the termination occurs plus two (2) times the amount equal to the last Annual Bonus (as defined below) awarded to the
Executive during the year prior to a Change of Control, or (ii) the Executive Base Salary from the date of the Change of Control through the remainder of this Contract’s Term. 
 (f) “Vested Benefits” means all amounts earned by and vested in the Executive pursuant to the plans, programs, policies
and practices of the Company, including, without limitation, the BankUnited Financial Corporation Profit Sharing Plan, stock options, stock grants, disability insurance plan, and group life insurance plans. 
 2. Employment 
 2.1
Employment and Term. The Company hereby agrees to employ the Executive and the Executive hereby agrees to continue to serve the Company, on the terms and conditions set forth herein, for the period commencing on July 28, 2006,
(hereinafter the “Commencement Date”) and expiring on September 30, 2011 (the “Term”) unless sooner terminated as hereinafter set forth. 
  

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 2.2 Position and Duties of Executive. The Executive shall serve as the President
and Chief Operating Officer (“COO”) of BankUnited and a member of the Board of Directors of BankUnited, so long as he continues as the President and COO and is elected by the Company’s stockholders. During the Term of employment, the
Executive shall diligently perform all services as may be reasonably assigned to him by the Company’s CEO, Board or its Chairman and shall exercise such power and authority as may from time to time be delegated to him by the CEO, Board or its
Chairman. The Executive shall be required to report solely to, and shall be subject solely to the supervision and direction of, the Company’s CEO, Board or its Chairman and no other person or group shall be given authority to supervise or
direct the Executive in the performance of his duties. The Executive shall devote substantially all his working time and attention (other than during weekends, holidays, approved vacation periods, and periods of illness or approved leaves of
absence) to the business and affairs of the Company, render such services efficiently and to the best of his ability, and use his best efforts to promote the interests of the Company. 
 2.3 Place of Performance. In connection with his employment by the Company, the Executive’s principal place of employment
shall be the Company’s executive offices in Florida. 
 3. Compensation. 
 3.1 Base Salary. The Executive shall receive a base salary of $650,000 (the “Base Salary”) per year during the Term of
this Agreement, with such Base Salary payable in installments consistent with the Company’s standard payroll practice for executives. Prior to each anniversary of the Commencement Date occurring during the Term, the Compensation Committee of
the Board of Directors (the “Committee”) shall review the Executive’s annual rate of salary, and may, in its discretion, approve an increase therein. The first and last year shall be prorated based on the number of months in such
year. In addition to salary, the Executive may receive other cash or stock compensation from the Company for services rendered hereunder at such times, in such amounts and on such terms and conditions as the Committee, in its discretion, may
determine from time to time continuing throughout the Term. The Base Salary shall not be decreased unless the Executive is not performing his duties and responsibilities in all material respects to the satisfaction of the Board. Any increase in Base
Salary shall not limit or reduce any obligation to the Executive under this Agreement. The Executive shall not separately receive directors’ fees. All disputes as to Base Salary shall be resolved by Arbitration as provided in paragraph 24.

 3.2 Annual Bonus. The Executive may be entitled to a cash bonus (the “Annual Bonus”) for each fiscal year,
or part thereof, occurring during the Term. The Annual Bonus for a year shall be based upon merit during such year, taking into account any performance goals set in advance by the Committee for such bonus, and shall be determined, after
recommendation by the Chairman, by the Committee (or the independent members of the Board in the absence of the Committee or a replacement therefor) in their sole discretion. The range of Annual Bonus shall be performance-based determined in
accordance with the standard practices of the Committee. 
  

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 4. Additional Benefits. 
 4.1 Expense Reimbursement. During the Term, upon the submission of supporting documentation by the Executive in form sufficient to
permit deduction thereof under applicable tax law (but without regard to actual deductibility), the Company shall promptly reimburse the Executive for all reasonable expenses actually paid or incurred by the Executive in the course of and pursuant
to the business of the Company, including expenses for entertainment and all travel and living expenses while away from home on business or at the request of the Company, provided that such expenses are incurred and accounted for in accordance with
the Company’s regular policies and procedures. 
 4.2 Other Benefits. The Company shall provide the Executive the
standard benefits provided to other senior executives, including, major medical and hospitalization insurance coverage, and group disability and group life insurance for the Executive (collectively, the “Policies”), which Policies the
Company shall keep in effect at its sole expense throughout the Term. To the extent any Policies have an eligibility period, Executive may maintain his existing equivalent coverage under COBRA and the Company shall reimburse him for that expense
until the eligibility period is satisfied. In addition to the group disability insurance coverage provided by the Company to its executive employees, the Company shall pay to the Executive $5,000 annually to reimburse him for the cost (or a portion
of the cost) of an individual disability policy for a term extending throughout the Term of this Agreement, without deduction for any payments provided under the Company’s group disability insurance coverage. In addition to group life
insurance, the Company shall maintain on the life of the Executive term life insurance policy extending throughout the Term of this Agreement in the amount of $2,500,000, the beneficiary of which shall be designated by the Executive. If the life
insurance policy is portable and fully transferable, the Company agrees to make reasonable efforts to have the policy transferred to the Executive upon his termination, at which time the Executive will be fully responsible for all premiums and
maintenance of such policy. The Executive represents to the Company that he is a “healthy, non-smoker.” The Executive understands that the Company’s obligation to purchase the life insurance policy described above ceases if the
Executive’s representation is false or misleading. Nothing paid to the Executive under any plan or arrangement presently in effect or made available in the future shall be deemed to be in lieu of the Base Salary or Annual Bonus payable to the
Executive pursuant to this Agreement. 
 4.3 Automobile Allowance. During the Term, the Company shall provide Executive
with an automobile allowance of six hundred dollars ($600) per month, which amount is intended to compensate Executive for wear and tear and reimburse the Executive for all costs of gasoline, oil, repairs, maintenance, insurance and other expenses
incurred by Executive by reason of the use of Executive’s automobile for Company business from time to time. The amount of this allowance will be reviewed by the Company and the Executive from time to time and increased prospectively as is
necessary to compensate and reimburse the Executive for such wear and tear and costs. 
  

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 4.4 Vacation. The Executive shall be entitled to four (4) weeks vacation per
year, said vacation to be scheduled so as not to materially interfere with the performance by the Executive of his duties pursuant to this Agreement. 
 4.5 Club Membership. The Company shall pay the annual dues for the Executive’s membership at La Gorce Country Club and Riviera Country Club, and such luncheon clubs as he deems appropriate for the
discharge of his duties hereunder. The membership at LaGorce Country Club shall be the property of the Company, and be in the Company’s name if possible. 
 4.6 Working Facilities and Support Staff. The Company shall furnish the Executive with an office or offices of a size and with
furnishings and other appointments, and secretarial and such other facilities and support services suitable to his position and adequate for the performance of his duties hereunder including, but not limited to, appropriate internet and news service
subscriptions, cellular telephones, computers (“palm,” “lap top” or other appropriate computer/cellular devices). 
 4.7 Securities Grants. 
 a) On August 21, 2006, the Committee shall grant the
Executive a number of shares of the Company’s Class A Common Stock (or equivalent or comparable rights to receive such stock, including, without limitation, in the form of deferred stock, restricted stock units or deferred stock units),
having a value on the date of such grant of $375,000 based on the closing price of the Class A Common Stock as of the date of grant, ownership of such stock or units to vest in equal amounts over five years from the date of grant. (As the grant
vests, the stock or units shall become “Vested Benefits” for purposes of this Agreement.) The Company at its election may satisfy these grants with an equivalent cash payment. 
 b) The shares or rights granted pursuant to subparagraph (a) shall not be delivered to the Executive, but rather delivery shall be
delayed in accordance with a deferral agreement entered into between the Executive and the Company and consistent with the requirements of Code Section 409A. Among other provisions, the deferral agreement shall contain provisions that the
Executive shall receive a complete distribution of the deferred property within thirty (30) days following any of the following: the Executive’s termination under Sections 5.2 or 5.3, or an event which is a Change of Control as defined in
the deferral agreement. The Company may utilize a “rabbi trust” to hold assets to satisfy its obligation to the Executive with respect to the deferred shares or rights, subject to the claims of the Company’s creditors in the event of
its insolvency. 
 c)(i) In the event of a Change of Control, all grants previously not vested shall become fully vested and
if any grant has not been made as provided in (a) above there shall be granted to the Executive a sufficient number of shares or rights to satisfy the requirements of such provisions based on the closing price bid of the Class A Common
Stock on the date of the grant. 
  

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 (ii) In the event this Agreement terminates under Section 5.3 (Termination Without
Cause) or under Section 5.2 as a result of disability, all grants previously not vested shall continue to vest in accordance with the vesting schedule provided in (a) above, and if any grant has not been made as provided in (a) above,
there shall continue to be granted to the Executive a sufficient number of shares or rights to satisfy the requirements of such provision based on the closing price bid of the Class A Common Stock on the date of the grant which shall continue
to vest in accordance with the vesting schedule provided in (a) above. The Company, at its election, may satisfy one or more the grants with an equivalent cash payment. 
 (iii) In the event this Agreement terminates under Section 5.2 as a result of death, all grants not vested as of the date of death
shall lapse and no further grants shall be made to satisfy the provision of subsection (a). 
 4.8 Indemnification and
Insurance. 
 (a) During the Term of this Agreement, the Company shall cause the Executive to be covered by and named as
an insured under any policy or contract of insurance obtained by it to insure its directors and officers against personal liability for acts or omissions in connection with service as an officer or director of the Company or service in other
capacities at the request of the Company. The coverage provided to the Executive pursuant to this section 4.8 shall be of the same scope and on the same terms and conditions as the coverage (if any) provided to other officers or directors of the
Company. 
 (b) To the maximum extent permitted under applicable law, during the Term of this Agreement and for a period of 3
years thereafter, the Company shall indemnify the Executive against and hold him harmless from any costs, liabilities, losses and exposures to the fullest extent and on the most favorable terms and conditions that similar indemnification is offered
to any director or officer of the Company or any subsidiary or affiliate thereof. 
 5. Termination. 
 5.1 Termination for Cause. Notwithstanding anything contained herein to the contrary, this Agreement may be terminated by the
Company for Cause. As used in this Agreement, “Cause” shall mean (i) any action or omission or failure of the Executive which constitutes a material breach of this Agreement, including without limitation failing to carry out his
duties and responsibilities in accordance with Section 2.2 (if, however, the Board determines that it is an action, omission or failure which can be cured, the Company agrees to provide one cure period of sixty (60) days after receipt by
the Executive of specific written notice of the issue. If the issue is not cured within the sixty (60) day period, or is of a nature that the Board determines cannot be cured, the Executive will be terminated for cause as specified in a Notice
of Termination); (ii) the Executive engages in an act(s) of personal dishonesty, incompetence, or willful misconduct in connection with his employment, the performance of services or handling the affairs of the Company or BankUnited, FSB;
(iii)

  

 6 

 
the conviction of Executive for, or a plea of guilty or nolo contendere to, a criminal act which is a felony, or which is a misdemeanor involving
theft, dishonesty or moral turpitude; (iv) the Executive breaches a fiduciary duty owed to the Company involving personal profit, intentional failure to perform stated duties, or which could seriously prejudice the interest of the Company,
BankUnited, FSB, its depositors, or shareholders; or (v) the Executive’s breach or willful violation of this Agreement, or of any law, rule, regulation, Code of Conduct, Insider Trading Policy, corporate policy (other than traffic
violations or similar non-material offenses), or final cease and desist order in connection with his performance of services for the Company. An express termination by the Company for reasons other than those included above or which otherwise does
not fall within another part of section 5, will be considered a termination without cause under paragraph 5.3. All disputes shall be resolved by Arbitration as provided in Section 24. 
 5.2 Termination for Death or Disability. This Agreement shall terminate automatically upon the Executive’s death and may be
terminated by the Company upon the Executive’s Disability. Upon a termination by reason of the Executive’s Disability, the Company shall pay to the Executive or his beneficiaries, as the case may be, (i) any compensation or other
obligations accrued for periods prior to the Date of Termination, all of which shall be paid within fifteen (l5) days after the Date of Termination, (ii) six (6) months of Base Salary, all of which shall be paid in installments consistent
with the Company’s payroll practice for executives, and shall implement the provisions for the Executive’s Vested Benefits as of the Date of Termination. If Termination is due to the death of the Executive, the Company shall, within
fifteen (15) days after the Date of Termination, pay to the Executive’s estate or beneficiaries, as the case may be, any unpaid Base Salary, Annual Bonus and benefits accrued for periods prior to the Date of Termination, or, if an alternative
beneficiary is designated in proper legal form, the payments and benefits shall be paid to said designated beneficiary. In addition, the life insurance proceeds from the policies described in this Agreement shall be paid to his personal
representative or such other persons as the Executive may have designated in writing. 
 5.3 Termination Without Cause.
At any time the Company shall have the right to terminate the Executive’s employment hereunder by written notice to Executive; provided, however, that the Company shall (i) pay to Executive any unpaid Base Salary, and benefits and amounts
due under the programs described in Section 4 up to the Date of Termination, (ii) pay to the Executive in a lump sum within thirty (30) days after the Date of Termination, an amount equal to the Executive’s Base Salary and
benefits that would have become due to the Executive for the remainder of the then effective Term, but for the Company’s termination of the Executive pursuant to this Section 5.3 and (iii) implement the provisions of
Section 4.7(c)(ii) for the Executive’s Vested Benefits as of the Date of Termination. The Company shall be deemed to have terminated the Executive’s employment pursuant to this Section 5.3 if such employment is terminated by the
Company without Cause. The Company and the Executive hereby stipulate that the Company may condition the payment and delivery of the amounts specified in clause (ii) of the first sentence of this Section 5.3 on the receipt of the
Executive’s resignation from any and all positions which he holds as an officer, director or committee member with respect to the Company, BankUnited, FSB or any subsidiary 

  

 7 

 
or affiliate of either of them and gives the Company a full release of all then existing claims under this Agreement. Any disputes shall be resolved by
Arbitration as provided in Section 24. 
 5.4 Resignation. In the event Executive resigns other than upon written
request of the Company, Executive shall have not further right to any payments or grants due under this Agreement and all Executives’ rights and benefits under this Agreement shall terminate. A termination of this Agreement under Sections 5.1,
5.2, or 5.3 shall not be considered a “resignation” under Section 5.4 unless specifically agreed to in writing by the Executive and the Company. 
 5.5 Notwithstanding any provision of this Agreement to the contrary, no payment or benefit will be made to the Executive under
Section 5.2 for termination due to Disability or under Section 5.3, prior to the expiration of six-months from the date of his termination of employment, if such payment or benefit will result in the imposition of an excise tax under Code
section 409A. 
 6. Change of Control. 
 6.1 Change of Control. A “Change of Control” shall be deemed to have occurred if the conditions set forth in any one of the following paragraphs shall have been satisfied: 
 (a) any person, as defined in Section 3(a)(9) of the Securities Exchange Act of 1934 (“Exchange Act”), as such term is
modified in Sections 13(d) and 14(d) of the Exchange Act, is or becomes the beneficial owner (as defined in Rule 13d-3 promulgated under the Exchange Act), directly or indirectly, of securities of the Company representing 51 % or more of the
combined voting power of the Company’s then outstanding voting securities (other than (A) any employee plan established by any “Corporation” (which for these purposes shall be deemed to be the Company and any corporation,
association, joint venture, proprietorship or partnership which is connected with the Company either through stock ownership or through common control, within the meaning of Sections 414(b) and (c) and l563 of the Internal Revenue Code of 1986,
as amended (the “Code”)), (B) the Company or any of its affiliates (as defined in Rule 12b-2 promulgated under the Exchange Act), (C) an underwriter temporarily holding securities pursuant to an offering of such securities,
(D) a corporation owned, directly or indirectly, by stockholders of the Company in substantially the same proportions as their ownership of the Company or (E) Alfred R. Camner or any member(s) of his family or an entity, person, or group
acting in concert with him or his family or on his behalf. 
 (b) the consummation of a merger or consolidation of the Company
with any other corporation other than (A) a merger or consolidation that would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted
into voting securities of the surviving entity or any parent thereof), in combination with the ownership of any trustee or other fiduciary holding securities under an employee benefit plan of any Corporation, at least 51% of the combined voting
power of the voting 

  

 8 

 
securities of the Company or such surviving entity or any parent thereof outstanding immediately after such merger or consolidation, or (B) a merger or
consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no Person is or becomes the beneficial owner (as defined in clause (a) above), directly or indirectly, of voting securities of the Company
or of the surviving entity of such merger or consolidation or any parent thereof representing 51 % or more of the combined voting power of the Company’s then outstanding voting securities or the Company or any surviving entity or parent
(other than Alfred R. Camner or any member(s) of his family or an entity, person, or group acting in concert with him or his family or on his behalf); or 
 (c) the occurrence of a liquidation, sale or disposition by the Company of all or substantially all of the Company’s assets, other than a sale or disposition by the Company of all or substantially all of the
Company’s assets to an entity, at least 75% of the combined voting power of the voting securities of which are owned by persons in substantially the same proportions as their ownership of the Company immediately prior to such sale. 

6.2 Payments Upon a Change of Control. 
 (a) The Company shall, following the Change of Control, pay the Executive the Change of Control Payment, which payment shall be made on
the earlier of six (6) months after the occurrence of a Change of Control or the acquiring entity’s termination of the Executive; and 
 (b) The Executive shall have the right, but not the obligation, to resign and the Company shall pay the Executive any Base Salary, or other benefits accrued for dates prior to the date of resignation and implement the
provisions of Section 4.7(c)(ii); provided, however, that the Executive must remain in the employ of the acquiring entity for a period of time not to exceed six (6) months if the acquiring entity so desires; and 
 6.3 Arrangements Not Exclusive or Limiting. The specific arrangements referred to herein are not intended to exclude or limit the
Executive’s participation in other benefits available to executive personnel generally, or to preclude or limit other compensation or benefits as may be authorized by the Board of the Company at any time, or to limit or reduce any compensation
or benefit to which the Executive would be entitled but for this Agreement. 
 7. Gross- Up of Change of Control Payments (if
applicable). 
 (a) This Section shall apply if Executive’s employment is terminated upon or following a Change of
Control as defined in Section 6 of this Agreement. If this Section applies, then, for any taxable year, the Executive shall be liable for the payment of an excise tax under section 4999 of the Code with respect to any payment in the nature of
compensation made by the Company, the Bank or any direct or indirect subsidiary or affiliate of the Company or the Bank to (or for the benefit of) the Executive, the 

  

 9 

 
Company shall pay to the Executive an amount equal to X determined under the following formula: 
  

					
	X=E x P	  		  	
	l - [(FI x (1 – SLI)) + SLI + E + M]	  		  	

  

 where 
 E = the rate at which the excise tax is assessed under section 4999 of the Code; 
 P = the amount with respect to which such excise tax is assessed, determined without regard to this Section 7; 
 FI = the highest marginal rate of income tax applicable to the Executive under the Code for the taxable year in question; 
 SLI = the sum of the highest marginal rates of income tax applicable to the Executive under all applicable state and local laws for the taxable year
in question; and 
 M = the highest marginal rate of Medicare tax applicable to the Executive under the Code for the taxable year in question.

 With respect to any payment in the nature of compensation that is made to (or for the benefit of) the Executive under the terms of this
Agreement, or otherwise, and on which an excise tax under section 4999 of the Code will be assessed, the payment determined under this Section 7(a) shall be made to the Executive on the first day of the seventh month following the end of the
year in which occurs the Executive’s termination of employment. 
 (b) Notwithstanding anything in this Section 7 to
the contrary, in the event that the Executive’s liability for the excise tax under section 4999 of the Code for a taxable year is subsequently determined to be different than the amount determined by the formula (X + P) x E, where X, P and E
have the meanings provided in Section 7(a), the Executive or the Company, as the case may be, shall pay to the other party at the time that the amount of such excise tax is finally determined, an appropriate amount, plus interest, such that the
payment made under Section 7(a), when increased by the amount of the payment made to the Executive under this Section 7(b) by the Company, or when reduced by the amount of the payment made to the Company under this Section 7(b) by the
Executive, equals the amount that should have properly been paid to the Executive under Section 7(a). The interest paid under this Section 7(b) shall be determined at the rate provided under section 1274(b)(2)(B) of the Code. To confirm
that the proper amount, if any, was paid to the Executive under this Section 7, the Executive shall furnish to the Company a copy of each tax return which reflects a liability for an excise tax payment made by the Company, at least 20 days
before the date on which such return is required to be filed with the Internal Revenue Service. 
  

 10 

 (c) Notwithstanding the provisions of Sections 7(a) and (b) above, in the event that
the Executive shall be required to pay any additional amount of excise tax under section 4999 of the Code, or any successor to such section, or under any similar federal, State or local tax provision in connection with his receipt of payment in the
nature of compensation from the Company, the Bank or any direct or indirect subsidiary or affiliate of the Company or the Bank to (or for the benefit of) the Executive, the Executive shall be entitled to receive an additional payment (a
“Gross-Up Payment “) in an amount such that, after payment by the Executive of all taxes (and any interest or penalties imposed with respect to such taxes) and the excise tax under the Code and/or State and local tax provision imposed upon
the Gross-Up Payment, the Executive retains an amount of the Gross-Up Payment equal to the excise tax imposed by the Code or any State or local tax provision upon such compensation. For purposes of this paragraph 7(c), the term “taxes”
shall include, but not be limited to, income taxes and the Executive’s share of any employment taxes. 
 (d) This section
shall not apply to any entitlement to stock options, stock grants, or other securities of the Company. 
 8. Regulatory
Considerations. 
 Notwithstanding anything herein to the contrary, any payments to Executive by BankUnited, whether pursuant to this
Agreement or otherwise, are subject to and conditioned on compliance with Section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. § 1828(k) and any regulations promulgated thereunder. 
 9. Non-Competition. 
 9.1 The Executive acknowledges that during the Term of this Agreement, he will learn or be privy to valuable confidential business information, and he will develop and cultivate on behalf of BankUnited substantial relationships with past,
present and prospective business customers of BankUnited. During the term of this Agreement with BankUnited, and thereafter, Executive will not, directly or indirectly, use or disclose to anyone, or authorize disclosure of any confidential
information or trade secrets except for the benefit of BankUnited. 
 9.2 The Executive acknowledges that the confidentiality
of the protected information with which Executive has been or may become privy is essential and proprietary to BankUnited and is owned and shall continue to be owned by BankUnited. The Executive agrees that at the termination of his employment, for
whatever reason, he will return to BankUnited immediately any and all documents in whatever form that are in his possession or control and that contain, reflect or refer to confidential information or trade secrets. 
 9.3 During the Term of this Agreement and for a period of eighteen (18) months thereafter within all counties where BankUnited, FSB or its
subsidiaries have branches or offices, the Executive shall not, either directly or indirectly, or for himself or through, on behalf of, or in conjunction with any other person, persons or legal entity, 

  

 11 

 
own, maintain, operate, engage in, assist, be employed by, or have any interest in any business engaging or planning to be engaged in banking or offering
other financial services offered by BankUnited, in any respect. 
 9.4 During the Term of this Agreement and for a period of
eighteen (18) months thereafter, Executive shall not, except if this Agreement is terminated as a result of a Change of Control: 
 (a) either directly or indirectly, employ, retain the services of, or seek to employ or retain the services of any person who is at that time or was within the previous six (6) months employed by, or providing services to BankUnited or
BankUnited, FSB, without the prior express written permission of BankUnited, which BankUnited may in its absolute discretion withhold; 
 (b) either directly or indirectly solicit or contact customers of BankUnited or BankUnited, FSB which solicitation is for or on behalf of any entity engaged in or seeking to be engaged in BankUnited’s banking or
financial service business, or in direct competition with BankUnited. 
 (c) In the event of a violation of the provision of
this Section, the Executive’s rights to receive grants of the Company’s Class A Common Stock shall terminate and no additional shares shall vest or be granted as provided in paragraph Section 4.7 
 9.5 Executive and BankUnited warrant that it is their intention to agree to restrictions on disclosure of confidential information and on
competition that are as broad as permitted by Florida law (save only for the l8 month limitation set forth in paragraph 9.3) and hereby agree to subscribe to any expansion of the recited agreements as may be authorized by any subsequent amendment
to, or interpretation of Florida Statute Section 542.335 (2000) or any other Florida law. For purposes of this non-competition provision, the Executive shall be deemed retained by BankUnited during any period of time in which he receives
compensation from BankUnited or its successors. 
 9.6 The Executive acknowledges that Section 9 is reasonably necessary
to protect the business interest of the Company and that the provisions of Section 2 and Section 9 are the essence of this Agreement for BankUnited and the Executive agrees that if he engages in activities prohibited by Section 9,
irreparable harm to BankUnited will likely result, for which a remedy in the form of damages may not be ascertainable. Under such circumstances, the Executive acknowledges that BankUnited may seek temporary, preliminary or permanent injunctive
relief against him in any court of competent jurisdiction upon three days written notice provided to the address listed in Section 16. This section shall not limit any other legal or equitable remedies BankUnited or its successors may have against
the Executive for violation of this Agreement. The prevailing party in any action to enforce Section 9 of this Agreement shall be entitled to attorney’s fees and costs. 
  

 12 

 10. Representation By the Executive. The Executive represents and warrants as of the Commencement
Date, that he is not a party to any agreement, contract or understanding, whether of employment or otherwise, or subject to any governmental restriction, which would in any way restrict or prohibit him from undertaking or performing employment with
the Company in accordance with the terms and conditions of this Agreement. The Executive further represents and warrants to the best of his knowledge, as of the Commencement Date, that he is physically and mentally capable of performing all the
essential function of the job and all duties reasonably assigned to him for the entire term of this Agreement. 
 11. Withholding. The
Company may withhold from any amounts payable under this Agreement such federal, state or local taxes as shall be required to be withheld pursuant to any applicable law or regulations. In the event Section 162(m) of the Internal Revenue Code of 1988
shall be applicable to Executive’s compensation, the Executive shall cooperate with the Company to restructure his compensation so as it to be fully deductible for income tax purposes; provided, however, such cooperation shall be on such terms,
if any, as both the Executive and the Company agree, both utilizing good faith efforts to structure payments in such a manner that the Executive’s total compensation, on a present value basis, is not diminished. 
 12. Attorneys’ Fees. The Company agrees to pay such reasonable attorneys’ fees (not to exceed $15,000.00) as are incurred by the
Executive with respect to advice and counsel concerning or related to the negotiation and preparation of this Agreement. 
 13.
Enforcement Costs Upon a Change of Control. The Company is aware that upon the occurrence of a Change of Control, the Board of Directors or a stockholder of the Company may then cause or attempt to cause the Company to refuse to comply with
its obligations under Section 6 of this Agreement, or may cause or attempt to cause the Company to institute, or may institute, litigation seeking to have Section 6 of this Agreement declared unenforceable, or may take, or attempt to take,
other action to deny the Executive the benefits intended under Section 6 of this Agreement. In these circumstances, the purpose of this Agreement could be frustrated. It is the intent of the parties that the Executive not be required to incur
the legal fees and expenses associated with the protection or enforcement of his rights under Section 6 of this Agreement by arbitration, litigation or other legal action because such costs would substantially detract from the benefits intended
to be extended to the Executive hereunder, nor be bound to negotiate any settlement of his rights hereunder under threat of incurring such costs. Accordingly, if at any time after the Commencement Date, it should appear to the Executive that the
Company is or has acted contrary to or is failing or has failed to comply with any of its obligations solely under Section 6 of this Agreement for the reason that it regards this Agreement to be void or unenforceable or for any other reason, or
in the event that the Company or any other person takes any action to declare Section 6 of this Agreement void or unenforceable, or institutes arbitration, litigation or other legal action designed to deny, diminish or to recover from the
Executive the benefits provided or intended to be provided to him under Section 6, and the Executive has acted in good faith to perform his obligations under this Agreement, the Company irrevocably authorizes the Executive from time to time to
retain counsel of his choice at the expense 

  

 13 

 
of the Company to represent him in connection with the protection and enforcement of his rights under Section 6. The reasonable fees and expenses of
counsel selected from time to time by the Executive as herein above provided shall be paid or reimbursed to the Executive by the Company on a regular, periodic basis upon presentation by the Executive of a statement or statements prepared by such
counsel in accordance with its customary practices. Counsel so retained by the Executive may be counsel representing other officers or key executives of the Company in connection with the protection and enforcement of their rights under similar
agreements between them and the Company, and, unless in his sole judgment use of common counsel could be prejudicial to him or would not be likely to reduce the fees and expenses chargeable hereunder to the Company, the Executive agrees to use his
best efforts to agree with such other officers or executives to retain common counsel. 
 14. Governing Law. This Agreement shall be
governed by and construed in accordance with the laws of the State of Florida, and applicable to contracts entered into and to be performed entirely within the State of Florida. 
 15. Non-Alienation. The Executive shall not have any right to pledge, hypothecate, anticipate, or in any way create a lien upon any amounts
provided under this Agreement, and no payments or benefits due hereunder shall be assignable in anticipation of payment either by voluntary or involuntary acts or by operation of law. So long as the Executive lives, no person, other than the parties
hereto, shall have any rights under or interest in this Agreement or in the subject matter hereof. 
 16. Notices. Any notice required
or permitted to be given under this Agreement shall be in writing, and shall be deemed to have been given when delivered by hand or when deposited in the United States mail, by registered or certified mail, return receipt requested, postage prepaid,
addressed as follows: 
 If to the Company: 
 Alfred R. Camner, Chairman 
 BankUnited Financial Corporation 
 255 Alhambra Circle 
 Coral Gables, Florida
33134 
 If to the Executive: 
 Richard A. Josepher, Esq. 
 Gutter Josepher & Ruffin 
 1001 W. Cypress Creek Road, Suite 900 
 Ft.
Lauderdale, Florida 33309 
 Ramiro Ortiz 
 7250 SW 99th Street 
 Miami, Florida 33156 
  

 14 

 or to such other addresses as either party hereto may from time to time give notice of to the other in
the aforesaid manner. 
 17. Guarantee. BankUnited hereby agrees to guarantee the payment by BankUnited, FSB of any benefits and
compensation to which Executive is or may be entitled to under the terms and conditions of the Agreement effective as of the Commencement Date between the Bank and Executive, a copy of which is attached hereto as Exhibit A (“Bank
Agreement”). 
 18. Severability. The invalidity of any one or more of the words, phrases, sentences, clauses or sections
contained in this Agreement shall not affect the enforceability of the remaining portions of this Agreement or any part thereof, all of which are inserted conditionally on their being valid in law, and, in the event that any one or more of the
words, phrases, sentences, clauses or sections contained in this Agreement shall be declared invalid, this Agreement shall be construed as if such invalid word or words, phrase or phrases, sentence or sentences, clause or clauses, or section or
sections had not been inserted. 
 19. Successors; Binding Agreement 
 19.1 The Company shall require any successor, whether direct or indirect to all or substantially all of the business or assets of the
Company whether by purchase, merger, consolidation or otherwise, prior to or contemporaneously with such acquisition, by agreement in form and substance reasonably satisfactory to the Executive and his legal counsel, to assume and agree to perform
this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such acquisition had taken place (to the extent not previously performed by the Company). As used in this Agreement, “Company”
shall mean the Company as hereinbefore defined and any such successor which executes and delivers the agreement provided for in this Section 19.1 or which otherwise becomes bound by all the terms and provisions of this Agreement by operation of law.

 19.2 This Agreement shall inure to the benefit of and be enforceable by the Executive’s personal or legal
representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. 
 19.3 This Agreement is
personal to the Executive and, without the prior written consent of the Company, shall not be assignable by the Executive otherwise than by will or the laws of descent and distribution. 
 20. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument. 
 21. Entire Agreement. Modifications and Waiver. This Agreement constitutes the entire
agreement between the Company and the Executive with respect to its subject matter and supersedes all prior negotiations, agreements, understandings and arrangements, both oral and written, between the Company and the Executive with 

  

 15 

 
respect to such subject matter including, but not limited to, any employee manuals of the Company. No modification or waiver of any provision of this
Agreement shall be binding unless executed in writing by all parties hereto. No waiver of any provision of this Agreement shall be deemed or shall constitute a waiver of any other provision (whether or not similar), nor shall any such waiver
constitute a continuing waiver. The failure of the Executive or the Company to insist upon strict compliance with any provision hereof shall not be deemed to be a waiver of such provision or any other provision thereof. 
 22. Non-Duplication. In the event that Executive shall perform services for BankUnited, FSB or any other direct or indirect subsidiary of the
Company, any compensation or benefits provided to Executive by such other employer shall be applied to offset the obligations of the Company hereunder, it being intended that this Agreement set forth the aggregate compensation and benefits payable
to Executive for all services to the Company and all of its direct or indirect subsidiaries, including BankUnited, FSB. 
 23.
Survival. The provisions of Section 9 shall survive the expiration of the Term of the Agreement plus extensions, if any, or termination of the Agreement. 
 24. Dispute Resolution-Arbitration. 
 (a) This paragraph concerns the resolution of
any controversies or claims between the Company and the Executive (except for claims arising under Section 9), whether arising in contract, tort or by statute, including but not limited to controversies or claims that arise out of or relate to:
(i) this Agreement (including any renewals, extensions or modifications); or (ii) any document related to this Agreement; (collectively a “Claim”). 
 (b) At the request of the Company or the Executive, any Claim shall be resolved by binding arbitration. The Company will pay the filing
fees and arbitrator fees. The prevailing party to be awarded fees and costs. 
 (c) Arbitration proceedings will be conducted
by the American Arbitration Association or any successor thereof (“AAA”), and the terms of this paragraph. In the event of any inconsistency, the terms of this paragraph shall control. 
 (d) The arbitration shall be administered by AAA under employment rules and conducted in Florida. All Claims shall be determined by one
arbitrator. All arbitration hearings shall commence within 90 days of the demand for arbitration and close within 90 days of commencement and the award of the arbitrator(s) shall be issued within 30 days of the close of the hearing. However, the
arbitrator, upon a showing of good cause, may extend the commencement of the hearing for up to an additional 60 days. The arbitrator(s) shall provide a concise written statement of reasons for the award. The arbitration award may be submitted to any
court having jurisdiction to be confirmed and enforced. 
 (e) The arbitrator(s) will have the authority to decide whether any
Claim is barred by the statute of limitations and, if so, to dismiss the arbitration on that basis. For purposes of the application of the statute of limitations, the service on AAA 

  

 16 

 
under applicable AAA rules of a notice of Claim is the equivalent of the filing of a lawsuit. Any dispute concerning this arbitration provision or whether a
Claim is arbitrable shall be determined by the arbitrator(s). The arbitrator(s) shall have the power to award legal fees pursuant to the terms of this Agreement. 
 (f) By agreeing to binding arbitration, the parties irrevocably and voluntarily waive any right they may have to a trial by jury in
respect of any Claim. Furthermore, without intending in any way to limit this agreement to arbitrate, to the extent any Claim is not arbitrated, the parties irrevocably and voluntarily waive any right they may have to a trial by jury in respect of
such Claim. This provision is a material inducement for the parties entering into this Agreement. 
  

 17 

 IN WITNESS WHEREOF, the Executive and, pursuant to the authorization from the Board, BankUnited has
executed this Agreement as of the date first above written. 
  

			
	BANKUNITED FINANCIAL CORPORATION
		
	By:	 	/s/ Alfred R. Camner
	Name:	 	Alfred R. Camner
	Title:	 	Chairman of the Board and Chief Executive Officer
	
	ATTEST:
		
	By:	 	/s/ Lawrence H. Blum
	Name:	 	Lawrence H. Blum
	Title:	 	Secretary
	
	EXECUTIVE:
		
	By:	 	/s/ Ramiro Ortiz
	Name:	 	Ramiro Ortiz
	Title:	 	President and Chief Operating Officer

  

 18

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