Document:

Deposit Agreement

 Exhibit 4.1 

 
  
 DEPOSIT AGREEMENT 
 among 

The Charles Schwab Corporation, 
 as Issuer 
 Wells Fargo Bank, N.A. 

as Depositary, 

and 
 THE HOLDERS
FROM TIME TO TIME OF 
 THE DEPOSITARY RECEIPTS DESCRIBED HEREIN 

Dated as of June 6, 2012 
  

 

 TABLE OF CONTENTS 

 

							
	 	  	  	  	Page	 
		
	 ARTICLE I DEFINED TERMS
	  	 	1	  
			
	 Section 1.1.
	  	Definitions.	  	 	1	  
		
	 ARTICLE II FORM OF RECEIPTS, DEPOSIT OF
STOCK, EXECUTION AND DELIVERY, TRANSFER, SURRENDER AND REDEMPTION OF RECEIPTS
	  	 	3	  
			
	 Section 2.1.
	  	Form and Transfer of Receipts.	  	 	3	  
			
	 Section 2.2.
	  	Deposit of Stock; Execution and Delivery of Receipts in Respect Thereof.	  	 	4	  
			
	 Section 2.3.
	  	Registration of Transfer of Receipts.	  	 	5	  
			
	 Section 2.4.
	  	Split-ups and Combinations of Receipts; Surrender of Receipts and Withdrawal of Stock.	  	 	5	  
			
	 Section 2.5.
	  	Limitations on Execution and Delivery, Transfer, Surrender and Exchange of Receipts.	  	 	6	  
			
	 Section 2.6.
	  	Lost Receipts, etc.	  	 	6	  
			
	 Section 2.7.
	  	Cancellation and Destruction of Surrendered Receipts.	  	 	7	  
			
	 Section 2.8.
	  	Redemption of Stock.	  	 	7	  
			
	 Section 2.9.
	  	Receipts Issuable in Global Registered Form.	  	 	8	  
		
	 ARTICLE III CERTAIN OBLIGATIONS OF HOLDERS
OF RECEIPTS AND THE CORPORATION
	  	 	9	  
			
	 Section 3.1.
	  	Filing Proofs, Certificates and Other Information.	  	 	9	  
			
	 Section 3.2.
	  	Payment of Taxes or Other Governmental Charges.	  	 	10	  
			
	 Section 3.3.
	  	Warranty as to Stock.	  	 	10	  
			
	 Section 3.4.
	  	Warranty as to Receipts.	  	 	10	  
		
	 ARTICLE IV THE DEPOSITED SECURITIES;
NOTICES
	  	 	10	  
			
	 Section 4.1.
	  	Cash Distributions.	  	 	10	  
			
	 Section 4.2.
	  	Distributions Other than Cash, Rights, Preferences or Privileges.	  	 	11	  
			
	 Section 4.3.
	  	Subscription Rights, Preferences or Privileges.	  	 	11	  

  
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	 Section 4.4.
	  	Notice of Dividends, etc.; Fixing Record Date for Holders of Receipts.	  	 	12	  
			
	 Section 4.5.
	  	Voting Rights.	  	 	12	  
			
	 Section 4.6.
	  	Changes Affecting Deposited Securities and Reclassifications, Recapitalizations, etc.	  	 	13	  
			
	 Section 4.7.
	  	Delivery of Reports.	  	 	14	  
			
	 Section 4.8.
	  	Lists of Receipt Holders.	  	 	14	  
		
	 ARTICLE V THE DEPOSITARY, THE
DEPOSITARY’S AGENTS, THE REGISTRAR AND THE CORPORATION
	  	 	14	  
			
	 Section 5.1.
	  	Maintenance of Offices, Agencies and Transfer Books by the Depositary; Registrar.	  	 	14	  
			
	 Section 5.2.
	  	 Prevention of or Delay in Performance by the Depositary, the Depositary’s Agents, the Registrar or the
Corporation.
	  	 	15	  
			
	 Section 5.3.
	  	Obligations of the Depositary, the Depositary’s Agents, the Registrar and the Corporation.	  	 	15	  
			
	 Section 5.4.
	  	Resignation and Removal of the Depositary; Appointment of Successor Depositary.	  	 	16	  
			
	 Section 5.5.
	  	Corporate Notices and Reports.	  	 	17	  
			
	 Section 5.6.
	  	Indemnification by the Corporation.	  	 	18	  
			
	 Section 5.7.
	  	Fees, Charges and Expenses.	  	 	18	  
		
	 ARTICLE VI AMENDMENT AND TERMINATION
	  	 	18	  
			
	 Section 6.1.
	  	Amendment.	  	 	18	  
			
	 Section 6.2.
	  	Termination.	  	 	19	  
		
	 ARTICLE VII MISCELLANEOUS
	  	 	20	  
			
	 Section 7.1.
	  	Counterparts.	  	 	20	  
			
	 Section 7.2.
	  	Exclusive Benefit of Parties.	  	 	20	  
			
	 Section 7.3.
	  	Invalidity of Provisions.	  	 	20	  
			
	 Section 7.4.
	  	Notices.	  	 	20	  
			
	 Section 7.5.
	  	Depositary’s Agents.	  	 	21	  

  
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	Section 7.6.	  	Appointment of Registrar and Transfer Agent in Respect of the Receipts.	  	21
			
	Section 7.7.	  	Holders of Receipts Are Parties.	  	21
			
	Section 7.8.	  	Governing Law.	  	22
			
	Section 7.9.	  	Inspection of Deposit Agreement.	  	22
			
	Section 7.10.	  	Headings.	  	22
			
	Section 7.11.	  	Confidentiality.	  	22
			
	Exhibit A	  	Form of Receipt	  	A-1
			
	Exhibit B	  	Certificate of Designations	  	B-1

  
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 DEPOSIT AGREEMENT dated as of June 6, 2012, among (i) The Charles Schwab
Corporation, a Delaware corporation, (ii) Wells Fargo Bank, N.A., a national banking association formed under the laws of the United States, as Depositary and (iii) the holders from time to time of the Receipts described herein.

 WHEREAS, it is desired to provide, as hereinafter set forth in this Deposit Agreement, for the deposit of shares of 6.00%
Non-Cumulative Perpetual Preferred Stock, Series B, of the Corporation with the Depositary for the purposes set forth in this Deposit Agreement and for the issuance hereunder of Depositary Shares representing a fractional interest in the Stock
deposited and for the execution and delivery of Receipts evidencing Depositary Shares; 
 WHEREAS, the Receipts are to be
substantially in the form of Exhibit A annexed hereto, with appropriate insertions, modifications and omissions, as hereinafter provided in this Deposit Agreement; and 
 WHEREAS, the terms and conditions of the 6.00% Non-Cumulative Perpetual Preferred Stock, Series B, of the Corporation are substantially set forth in the Certificate of Designations attached hereto as
Exhibit B; 
 NOW, THEREFORE, in consideration of the premises, the parties hereto agree as follows: 

ARTICLE I 

DEFINED TERMS 
  

	 	Section 1.1.	Definitions. 

 The
following definitions shall for all purposes, unless otherwise indicated, apply to the respective terms (in the singular and plural forms of such terms) used in this Deposit Agreement and the Receipts: 

“Certificate of Designations” shall mean the Certificate of Designations filed with the Secretary of State of the State
of Delaware establishing the Stock as a series of preferred stock of the Corporation, and setting forth the rights, preferences and privileges of the Stock, and attached hereto as Exhibit B, and as such certificate may be amended or restated from
time to time. 
 “Corporation” shall mean The Charles Schwab Corporation, a Delaware corporation, and its
successors. 
 “Deposit Agreement” shall mean this Deposit Agreement, as the same may be amended, modified or
supplemented from time to time in accordance with the terms hereof. 
 “Depositary” shall mean Wells Fargo
Bank, N.A., a national banking association formed under the laws of the United States and any successor as Depositary hereunder. 
 “Depositary Share Redemption Price” shall have the meaning set forth in Section 2.8. 

  
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 “Depositary Shares” shall mean the security representing a 1/40th
fractional interest in a share of the Stock, and the same proportionate interest in any and all other property received by the Depositary in respect of such share of Stock and held under this Deposit Agreement, all as evidenced by the Receipts
issued hereunder. Subject to the terms of this Deposit Agreement, each owner of a Depositary Share is entitled, proportionately, to all the rights, preferences and privileges of the Stock represented by such Depositary Share (including the dividend,
voting, redemption and liquidation rights contained in the Certificate of Designations). 
 “Depositary’s
Agent” shall mean an agent appointed by the Depositary pursuant to Section 7.5. 
 “Depositary’s
Office” shall mean the principal office of the Depositary, at which at any particular time its depositary receipt business in respect of matters governed by this Deposit Agreement shall be administered. 

“Exchange Event” shall mean with respect to any Global Registered Receipt: 

(1) (A) the Global Receipt Depository which is the holder of such Global Registered Receipt or Receipts notifies the
Corporation that it is no longer willing or able to properly discharge its responsibilities under any Letter of Representations or that it is no longer eligible or in good standing under the Securities Exchange Act of 1934, as amended, and
(B) the Corporation has not appointed a qualified successor Global Receipt Depository within ninety (90) calendar days after the Corporation received such notice, or 

(2) the Corporation in its sole discretion notifies the Depositary in writing that the Receipts or portion thereof issued
or issuable in the form of one or more Global Registered Receipts shall no longer be represented by such Global Receipt or Receipts. 
 “Global Receipt Depository” shall mean, with respect to any Receipt issued hereunder, The Depository Trust Company (“DTC”) or such other entity designated as Global Receipt
Depository by the Corporation in or pursuant to this Deposit Agreement, which Person must be, to the extent required by any applicable law or regulation, a clearing agency registered under the Securities Exchange Act of 1934, as amended. 

“Global Registered Receipts” shall mean a global registered Receipt registered in the name of a nominee of DTC.

 “Letter of Representations” shall mean any applicable agreement among the Corporation, the Depositary and a
Global Receipt Depository with respect to such Global Receipt Depository’s rights and obligations with respect to any Global Registered Receipts, as the same may be amended, supplemented, restated or otherwise modified from time to time and any
successor agreement thereto. 
 “Receipt” shall mean a receipt issued hereunder to evidence one or more
Depositary Shares held of record by the record holder of such Depositary Shares, whether in definitive or temporary form, substantially in the form set forth as Exhibit A. 

  
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 “record holder” or “holder” as applied to a Receipt shall
mean the person in whose name a Receipt is registered on the books of the Depositary maintained by the Depositary for such purpose. 
 “Redemption Date” shall have the meaning set forth in Section 2.8. 
 “Redemption Price” shall have the meaning set forth in the Certificate of Designations. 
 “Registrar” shall mean the Depositary or such other successor bank or trust company which shall be appointed by the Corporation to register ownership and transfers of Receipts as herein
provided and if a successor Registrar shall be so appointed, references herein to “the books” of or maintained by the Depositary shall be deemed, as applicable, to refer as well to the register maintained by such Registrar for such
purpose. 
 “Securities Act” shall mean the Securities Act of 1933, as amended. 

“Stock” shall mean shares of the Corporation’s 6.00% Non-Cumulative Perpetual Preferred Stock, Series B, $0.01
par value, $1,000 liquidation preference per share, designated and described in the Certificate of Designations. 
 ARTICLE II

 FORM OF RECEIPTS, DEPOSIT OF STOCK,

 EXECUTION AND DELIVERY, TRANSFER, 

SURRENDER AND REDEMPTION OF RECEIPTS 

 

	 	Section 2.1.	Form and Transfer of Receipts. 

 Definitive Receipts shall be substantially in the form set forth in Exhibit A annexed to this Deposit Agreement, in each case with appropriate insertions, modifications and omissions, as hereinafter
provided and shall be engraved or otherwise prepared so as to comply with applicable rules of the New York Stock Exchange Inc. 

Receipts shall be executed by the Depositary by the manual signature of a duly authorized officer of the Depositary; provided, that such
signature may be a facsimile if a Registrar for the Receipts (other than the Depositary) shall have been appointed and such Receipts are countersigned by a duly authorized officer of the Registrar. No Receipt shall be entitled to any benefits under
this Deposit Agreement or be valid or obligatory for any purpose unless it shall have been executed manually by a duly authorized officer of the Depositary or, if a Registrar for the Receipts (other than the Depositary) shall have been appointed, by
manual or facsimile signature of a duly authorized officer of the Depositary and countersigned by a duly authorized officer of such Registrar. The Depositary shall record on its books each Receipt so signed and delivered as hereinafter provided.

 Receipts shall be in denominations of any number of whole Depositary Shares. All receipts shall be dated the date of their
issuance. 

  
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 Receipts may be endorsed with or have incorporated in the text thereof such legends or
recitals or changes not inconsistent with the provisions of this Deposit Agreement all as may be required by the Depositary and approved by the Corporation or required to comply with any applicable law or any regulation thereunder or with the rules
and regulations of any securities exchange upon which the Stock, the Depositary Shares or the Receipts may be listed or to conform with any usage with respect thereto, or to indicate any special limitations or restrictions to which any particular
Receipts are subject. 
 Title to Depositary Shares evidenced by a Receipt which is properly endorsed or accompanied by a
properly executed instrument of transfer, shall be transferable by delivery with the same effect as in the case of a negotiable instrument; provided, however, that until transfer of any particular Receipt shall be registered on the books of the
Depositary as provided in Section 2.3, the Depositary may, notwithstanding any notice to the contrary, treat the record holder thereof at such time as the absolute owner thereof for the purpose of determining the person entitled to
distributions of dividends or other distributions or to any notice provided for in this Deposit Agreement and for all other purposes. 
  

	 	Section 2.2.	Deposit of Stock; Execution and Delivery of Receipts in Respect Thereof. 

 Subject to the terms and conditions of this Deposit Agreement, the Corporation may from time to time deposit shares of the Stock under this Deposit Agreement by delivery to the Depositary of (i) a
certificate or certificates for the Stock to be deposited, properly endorsed or accompanied, if required by the Depositary, by a duly executed instrument of transfer or endorsement or (ii) an instruction letter from the Corporation authorizing
the Depositary to register such shares of the Stock in book-entry form, each in form satisfactory to the Depositary, together with all such certifications as may be required by the Depositary in accordance with the provisions of this Deposit
Agreement and all other information required to be set forth, and together with a written order of the Corporation directing the Depositary to execute and deliver to, or upon the written order of, the person or persons stated in such order a Receipt
or Receipts evidencing in the aggregate the number of Depositary Shares representing such deposited Stock. 
 Deposited Stock
shall be held by the Depositary at the Depositary’s Office or at such other place or places as the Depositary shall determine. The Depositary shall not lend any Stock deposited hereunder. 

Upon receipt by the Depositary of (i) a certificate or certificates for Stock deposited in accordance with the provisions of this
Section or (ii) an instruction letter from the Corporation in accordance with the provisions of this Section, together with the other documents required as above specified, and upon recordation of the Stock on the books of the Corporation (or
its duly appointed transfer agent) in the name of the Depositary or its nominee, the Depositary, subject to the terms and conditions of this Deposit Agreement, shall execute and deliver to or upon the order of the person or persons named in the
written order delivered to the Depositary referred to in the first paragraph of this Section, a Receipt or Receipts evidencing in the aggregate the number of Depositary Shares representing the Stock so deposited and registered in such name or names
as may be requested by such person or persons. The Depositary shall execute and deliver such Receipt or Receipts at the Depositary’s Office or such other offices, if any, as the 

  
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Depositary may designate. Delivery at other offices shall be at the risk and expense of the person requesting such delivery. 

 

	 	Section 2.3.	Registration of Transfer of Receipts. 

 Subject to the terms and conditions of this Deposit Agreement, the Depositary shall register on its books from time to time transfers of Receipts upon any surrender thereof by the holder in person or by
duly authorized attorney, properly endorsed or accompanied by a properly executed instrument of transfer. Thereupon, the Depositary shall execute a new Receipt or Receipts evidencing the same aggregate number of Depositary Shares as those evidenced
by the Receipt or Receipts surrendered and deliver such new Receipt or Receipts to or upon the order of the person entitled thereto. 
 The Depositary shall not be required (a) to issue, transfer or exchange any Receipts for a period beginning at the opening of business fifteen days next preceding any selection of Depositary Shares
and Stock to be redeemed and ending at the close of business on the day of the mailing of notice of redemption, or (b) to transfer or exchange for another Receipt any Receipt called or being called for redemption in whole or in part except as
provided in Section 2.8. 
  

	 	Section 2.4.	Split-ups and Combinations of Receipts; Surrender of Receipts and Withdrawal of Stock. 

Upon surrender of a Receipt or Receipts at the Depositary’s Office or at such other offices as it may designate for the purpose of
effecting a split-up or combination of such Receipt or Receipts, and subject to the terms and conditions of this Deposit Agreement, the Depositary shall execute a new Receipt or Receipts in the authorized denomination or denominations requested,
evidencing the aggregate number of Depositary Shares evidenced by the Receipt or Receipts surrendered, and shall deliver such new Receipt or Receipts to or upon the order of the holder of the Receipt or Receipts so surrendered. 

Any holder of a Receipt or Receipts may withdraw the number of whole shares of Stock and all money and other property, if any,
represented thereby by surrendering such Receipt or Receipts, at the Depositary’s Office or at such other offices as the Depositary may designate for such withdrawals. Thereafter, without unreasonable delay, the Depositary shall deliver to such
holder, or to the person or persons designated by such holder as hereinafter provided, the number of whole shares of Stock and all money and other property, if any, represented by the Receipt or Receipts so surrendered for withdrawal, but holders of
such whole shares of Stock will not thereafter be entitled to deposit such Stock hereunder or to receive a Receipt evidencing Depositary Shares therefor. If a Receipt delivered by the holder to the Depositary in connection with such withdrawal shall
evidence a number of Depositary Shares in excess of the number of Depositary Shares representing the number of whole shares of Stock to be so withdrawn, the Depositary shall at the same time, in addition to such number of whole shares of Stock and
such money and other property, if any, to be so withdrawn, deliver to such holder, or subject to Section 2.3 upon such holder’s order, a new Receipt evidencing such excess number of Depositary Shares. 

  
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 Except as provided in Section 6.2, in no event will fractional shares of Stock (or any
cash payment in lieu thereof) be delivered by the Depositary. Delivery of the Stock and money and other property, if any, being withdrawn may be made by the delivery of such certificates, documents of title and other instruments as the Depositary
may deem appropriate. 
 If the Stock and the money and other property, if any, being withdrawn are to be delivered to a person
or persons other than the record holder of the Receipt or Receipts being surrendered for withdrawal of Stock, such holder shall execute and deliver to the Depositary a written order so directing the Depositary and the Depositary may require that the
Receipt or Receipts surrendered by such holder for withdrawal of such shares of Stock be properly endorsed in blank or accompanied by a properly executed instrument of transfer in blank. 

Delivery of the Stock and the money and other property, if any, represented by Receipts surrendered for withdrawal shall be made by the
Depositary at the Depositary’s Office, except that, at the request, risk and expense of the holder surrendering such Receipt or Receipts and for the account of the holder thereof, such delivery may be made at such other place as may be
designated by such holder. 
  

	 	Section 2.5.	Limitations on Execution and Delivery, Transfer, Surrender and Exchange of Receipts. 

As a condition precedent to the execution and delivery, registration of transfer, split-up, combination, surrender or exchange of any
Receipt, the Depositary, any of the Depositary’s Agents or the Corporation may require payment to it of a sum sufficient for the payment (or, in the event that the Depositary or the Corporation shall have made such payment, the reimbursement to
it) of any charges or expenses payable by the holder of a Receipt pursuant to Section 5.7, may require the production of evidence satisfactory to it as to the identity and genuineness of any signature, and any other reasonable evidence of
authority that may be required by the Depositary and may also require compliance with such regulations, if any, as the Depositary or the Corporation may establish consistent with the provisions of this Deposit Agreement and/or applicable law.

 The deposit of Stock may be refused, the delivery of Receipts against Stock may be suspended, the registration of transfer of
Receipts may be refused and the registration of transfer, surrender or exchange of outstanding Receipts may be suspended (i) during any period when the register of stockholders of the Corporation is closed or (ii) if any such action is
deemed necessary or advisable by the Depositary, any of the Depositary’s Agents or the Corporation at any time or from time to time because of any requirement of law or of any government or governmental body or commission or under any provision
of this Deposit Agreement. 
  

	 	Section 2.6.	Lost Receipts, etc. 

 In
case any Receipt shall be mutilated, destroyed, lost or stolen, the Depositary in its discretion may execute and deliver a Receipt of like form and tenor in exchange and substitution for such mutilated Receipt, or in lieu of and in substitution for
such destroyed, lost or stolen Receipt, upon (i) the filing by the holder thereof with the Depositary of evidence satisfactory to the Depositary of such destruction or loss or theft of such Receipt, of the authenticity thereof and

  
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of such holder’s ownership thereof and (ii) the holder thereof furnishing of the Depositary with reasonable indemnification satisfactory to the Depositary. 

 

	 	Section 2.7.	Cancellation and Destruction of Surrendered Receipts. 

 All Receipts surrendered to the Depositary or any Depositary’s Agent shall be cancelled by the Depositary. Except as prohibited by applicable law or regulation, the Depositary is authorized and
directed to destroy all Receipts so cancelled. 
  

	 	Section 2.8.	Redemption of Stock. 

Whenever the Corporation shall be permitted and shall elect to redeem shares of Stock in accordance with the provisions of the
Certificate of Designations (including on account of a Regulatory Capital Treatment Event, as described therein), it shall (unless otherwise agreed to in writing with the Depositary) give or cause to be given to the Depositary, not less than
30 days and not more than 60 days prior to the Redemption Date (as defined below), notice of the date of such proposed redemption of Stock and of the number of such shares held by the Depositary to be so redeemed and the Depositary Share
Redemption Price, which notice shall be accompanied by a certificate from the Corporation stating that such redemption of Stock is in accordance with the provisions of the Certificate of Designations. On the date of such redemption, provided that
the Corporation shall then have paid or caused to be paid in full to the Depositary the Redemption Price (as defined in the Certificate of Designations) per share of Stock to be redeemed, in accordance with and as required by the provisions of the
Certificate of Designations, the Depositary shall redeem the number of Depositary Shares representing such Stock. The Depositary shall mail notice of the Corporation’s redemption of Stock and the proposed simultaneous redemption of the number
of Depositary Shares representing the Stock to be redeemed by first-class mail, postage prepaid, not less than 30 days and not more than 60 days prior to the date fixed for redemption of such Stock and Depositary Shares (the “Redemption
Date”), to the record holders of the Receipts evidencing the Depositary Shares to be so redeemed at the addresses of such holders as they appear on the records of the Depositary; but neither failure to mail any such notice of redemption of
Depositary Shares to one or more such holders nor any defect in any notice of redemption of Depositary Shares to one or more such holders shall affect the sufficiency of the proceedings for redemption as to the other holders. Each such notice shall
be prepared by the Corporation and shall state: (i) the Redemption Date; (ii) the number of Depositary Shares to be redeemed and, if less than all the Depositary Shares held by any such holder are to be redeemed, the number of such
Depositary Shares held by such holder to be so redeemed; (iii) the Depositary Share Redemption Price; (iv) the place or places where Receipts evidencing Depositary Shares are to be surrendered for payment of the Depositary Share Redemption
Price and (v) that dividends on such shares of Stock represented by the Depositary Shares to be redeemed will cease to accrue on such Redemption Date. In case less than all the outstanding Depositary Shares are to be redeemed, the Depositary
Shares to be so redeemed shall be selected either pro rata, by lot or in such other manner as the Corporation may determine to be equitable. 
 Notice having been mailed by the Depositary as aforesaid, from and after the Redemption Date (unless the Corporation shall have failed to provide the funds necessary to redeem the Stock evidenced by the
Depositary Shares called for redemption) (i) all shares of Stock called for 

  
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redemption shall cease to be outstanding and any rights with respect to such shares shall cease and terminate (except for the right to receive the Preferred Stock Redemption Price without
interest), (ii) the Depositary Shares being redeemed from such proceeds shall cease to be outstanding and all rights of the holders of Receipts evidencing such Depositary Shares shall, to the extent of such Depositary Shares, cease and
terminate (except the right to receive the Depositary Share Redemption Price without interest), and (iii) upon surrender in accordance with such redemption notice of the Receipts evidencing any such Depositary Shares called for redemption
(properly endorsed or assigned for transfer, if the Depositary or applicable law shall so require), such Depositary Shares shall be redeemed by the Depositary at a redemption price per Depositary Share (the “Depositary Share Redemption
Price”) equal to one-fortieth of the Preferred Stock Redemption Price per share of Stock so redeemed plus all money and other property, if any, represented by such Depositary Shares. 

If fewer than all of the Depositary Shares evidenced by a Receipt are called for redemption, the Depositary will deliver to the holder of
such Receipt upon its surrender to the Depositary, together with the redemption payment, a new Receipt evidencing the Depositary Shares evidenced by such prior Receipt and not called for redemption. 

 

	 	Section 2.9.	Receipts Issuable in Global Registered Form. 

 If the Corporation shall determine in a writing delivered to the Depositary that the Receipts are to be issued in whole or in part in the form of one or more Global Registered Receipts, then the
Depositary shall, in accordance with the other provisions of this Deposit Agreement, execute and deliver one or more Global Registered Receipts evidencing such Receipts, which (i) shall represent, and shall be denominated in an amount equal to
the aggregate principal amount of, the Receipts to be represented by such Global Registered Receipt or Receipts, and (ii) shall be registered in the name of the Global Receipt Depository therefor or its nominee. 

Notwithstanding any other provision of this Deposit Agreement to the contrary, unless otherwise provided in the Global Registered
Receipt, a Global Registered Receipt may only be transferred in whole and only by the applicable Global Receipt Depository for such Global Registered Receipt to a nominee of such Global Receipt Depository, or by a nominee of such Global Receipt
Depository to such Global Receipt Depository or another nominee of such Global Receipt Depository, or by such Global Receipt Depository or any such nominee to a successor Global Receipt Depository for such Global Registered Receipt selected or
approved by the Corporation or to a nominee of such successor Global Receipt Depository. Except as provided below, owners solely of beneficial interests in a Global Registered Receipt shall not be entitled to receive physical delivery of the
Receipts represented by such Global Registered Receipt. Neither any such beneficial owner nor any direct or indirect participant of a Global Receipt Depository shall have any rights under this Deposit Agreement with respect to any Global Registered
Receipt held on their behalf by a Global Receipt Depository and such Global Receipt Depository may be treated by the Corporation, the Depositary and any director, officer, employee or agent of the Corporation or the Depositary as the holder of such
Global Registered Receipt for all purposes whatsoever. 

  
 8 

 Unless and until definitive Receipts are delivered to the owners of the beneficial interests
in a Global Registered Receipt, (1) the applicable Global Receipt Depository will make book-entry transfers among its participants and receive and transmit all payments and distributions in respect of the Global Registered Receipts to such
participants, in each case, in accordance with its applicable procedures and arrangements, and (2) whenever any notice, payment or other communication to the holders of Global Registered Receipts is required under this Deposit Agreement, the
Depositary shall give all such notices, payments and communications specified herein to be given to such holders to the applicable Global Receipt Depository. 
 If an Exchange Event has occurred with respect to any Global Registered Receipt, then, in any such event, the Depositary shall, upon receipt of a written order from the Corporation for the execution and
delivery of individual definitive registered Receipts in exchange for such Global Registered Receipt, execute and deliver, individual definitive registered Receipts, in authorized denominations and of like tenor and terms in an aggregate principal
amount equal to the principal amount of the Global Registered Receipt surrendered in exchange for such Global Registered Receipt. 
 Definitive registered Receipts issued in exchange for a Global Registered Receipt pursuant to this Section shall be registered in such names and in such authorized denominations as the Global Receipt
Depository for such Global Registered Receipt, pursuant to instructions from its participants, shall instruct the Depositary in writing. The Depositary shall deliver such Receipts to the persons in whose names such Receipts are so registered.

 Notwithstanding anything to the contrary in this Deposit Agreement, should the Corporation determine that the Receipts should
be issued as a Global Registered Receipt, the parties hereto shall comply with the terms of each Letter of Representations, if applicable. 
 ARTICLE III 
 CERTAIN OBLIGATIONS OF

 HOLDERS OF RECEIPTS AND THE
CORPORATION 
  

	 	Section 3.1.	Filing Proofs, Certificates and Other Information. 

 Any holder of a Receipt may be required from time to time to file such proof of residence, or other matters or other information, to execute such certificates and to make such representations and
warranties as the Depositary or the Corporation may reasonably deem necessary or proper. The Depositary or the Corporation may withhold the delivery, or delay the registration of transfer or redemption, of any Receipt or the withdrawal of the Stock
represented by the Depositary Shares evidenced by any Receipt or the distribution of any dividend or other distribution or the sale of any rights or of the proceeds thereof until such proof or other information is filed or such certificates are
executed or such representations and warranties are made. 

  
 9 

	 	Section 3.2.	Payment of Taxes or Other Governmental Charges. 

 Holders of Receipts shall be obligated to make payments to the Depositary of certain charges and expenses, as provided in Section 5.7. Registration of transfer of any Receipt or any withdrawal of
Stock and all money or other property, if any, represented by the Depositary Shares evidenced by such Receipt may be refused until any such payment due is made, and any dividends or other distributions may be withheld or any part of or all the Stock
or other property represented by the Depositary Shares evidenced by such Receipt and not theretofore sold may be sold for the account of the holder thereof (after attempting by reasonable means to notify such holder prior to such sale), and such
dividends or other distributions or the proceeds of any such sale may be applied to any payment of such charges or expenses, the holder of such Receipt remaining liable for any deficiency. 

 

	 	Section 3.3.	Warranty as to Stock. 

The Corporation hereby represents and warrants that the Stock, when issued, will be duly authorized, validly issued, fully paid and
nonassessable (subject to 12 U.S.C. § 55). Such representation and warranty shall survive the deposit of the Stock and the issuance of Receipts. 
  

	 	Section 3.4.	Warranty as to Receipts. 

The Corporation hereby represents and warrants that the Receipts, when issued, will represent legal and valid interests in the Stock.
Such representation and warranty shall survive the deposit of the Stock and the issuance of Receipts. 
 ARTICLE IV 

THE DEPOSITED SECURITIES; NOTICES 

 

	 	Section 4.1.	Cash Distributions. 

Whenever the Depositary shall receive any cash dividend or other cash distribution on Stock, the Depositary shall, subject to Sections
3.1 and 3.2, distribute to record holders of Receipts on the record date fixed pursuant to Section 4.4 such amounts of such dividend or distribution as are, as nearly as practicable, in proportion to the respective numbers of Depositary Shares
evidenced by the Receipts held by such holders; provided, however, that in case the Corporation or the Depositary shall be required to withhold and shall withhold from any cash dividend or other cash distribution in respect of the Stock an amount on
account of taxes, the amount made available for distribution or distributed in respect of Depositary Shares shall be reduced accordingly. The Depositary shall distribute or make available for distribution, as the case may be, only such
amount, however, as can be distributed without attributing to any holder of Depositary Shares a fraction of one cent, and any balance not so distributable shall be held by the Depositary (without liability for interest thereon) and shall be added to
and be treated as part of the next sum received by the Depositary for distribution to record holders of Receipts then outstanding. Each holder of a Receipt shall provide the Depositary with its certified tax identification number on a properly
completed Form W-8 or W-9, as may be applicable. Each holder of a Receipt acknowledges that, in the event of non-compliance with the preceding 

  
 10 

 
sentence, the Internal Revenue Code of 1986, as amended, may require withholding by the Depositary of a portion of any of the distributions to be made hereunder. 

 

	 	Section 4.2.	Distributions Other than Cash, Rights, Preferences or Privileges. 

 Whenever the Depositary shall receive any distribution other than cash, rights, preferences or privileges upon Stock, the Depositary shall, at the direction of the Corporation, subject to Sections 3.1 and
3.2, distribute to record holders of Receipts on the record date fixed pursuant to Section 4.4 such amounts of the securities or property received by it as are, as nearly as practicable, in proportion to the respective numbers of Depositary
Shares evidenced by the Receipts held by such holders, in any manner that the Corporation may deem equitable and practicable for accomplishing such distribution. If in the opinion of the Depositary such distribution cannot be made proportionately
among such record holders in accordance with the direction of the Corporation, or if for any other reason (including any requirement that the Corporation or the Depositary withhold an amount on account of taxes) the Depositary deems, after
consultation with the Corporation, such distribution not to be feasible, the Depositary may, with the approval of the Corporation, adopt such method as it deems equitable and practicable for the purpose of effecting such distribution, including the
sale (at public or private sale) of the securities or property thus received, or any part thereof, in a commercially reasonable manner. The net proceeds of any such sale shall, subject to Sections 3.1 and 3.2, be distributed or made available for
distribution, as the case may be, by the Depositary to record holders of Receipts as provided by Section 4.1 in the case of a distribution received in cash. The Corporation shall not make any distribution of such securities or property to the
Depositary and the Depositary shall not make any distribution of such securities or property to the holders of Receipts unless the Corporation shall have provided an opinion of counsel stating that such securities or property have been registered
under the Securities Act or do not need to be registered in connection with such distributions. 
  

	 	Section 4.3.	Subscription Rights, Preferences or Privileges. 

 If the Corporation shall at any time offer or cause to be offered to the persons in whose names Stock is recorded on the books of the Corporation any rights, preferences or privileges to subscribe for or
to purchase any securities or any rights, preferences or privileges of any other nature, such rights, preferences or privileges shall in each such instance be made available by the Depositary to the record holders of Receipts in such manner as the
Corporation shall instruct the Depositary in writing, either by the issue to such record holders of warrants representing such rights, preferences or privileges or by such other method as may be approved by the Corporation; provided, however, that
(i) if at the time of issue or offer of any such rights, preferences or privileges the Depositary determines that it is not lawful or (after consultation with the Corporation) not feasible to make such rights, preferences or privileges
available to holders of Receipts by the issue of warrants or otherwise, or (ii) if and to the extent so instructed by holders of Receipts who do not desire to exercise such rights, preferences or privileges, then the Depositary, in its
discretion (with approval of the Corporation, in any case where the Depositary has determined that it is not feasible to make such rights, preferences or privileges available), may, if applicable laws or the terms of such rights, preferences or
privileges permit such transfer, sell such rights, preferences or privileges at public or private sale, at such place or places and upon such terms as it may deem proper. The net proceeds of any such sale shall, subject to

  
 11 

 
Sections 3.1 and 3.2, be distributed by the Depositary to the record holders of Receipts entitled thereto as provided by Section 4.1 in the case of a distribution received in cash.

 The Corporation shall notify the Depositary whether registration under the Securities Act of the securities to which any
rights, preferences or privileges relate is required in order for holders of Receipts to be offered or sold the securities to which such rights, preferences or privileges relate, and the Corporation agrees with the Depositary that it will file
promptly a registration statement pursuant to such Act with respect to such rights, preferences or privileges and securities and use its reasonable best efforts and take all steps available to it to cause such registration statement to become
effective sufficiently in advance of the expiration of such rights, preferences or privileges to enable such holders to exercise such rights, preferences or privileges. In no event shall the Depositary make available to the holders of Receipts any
right, preference or privilege to subscribe for or to purchase any securities unless and until such registration statement shall have become effective, or the Corporation shall have provided to the Depositary an opinion of counsel to the effect that
the offering and sale of such securities to such holders are exempt from registration under the provisions of the Securities Act. 
 The Corporation shall notify the Depositary whether any other action under the laws of any jurisdiction or any governmental or administrative authorization, consent or permit is required in order for such
rights, preferences or privileges to be made available to holders of Receipts, and the Corporation agrees with the Depositary that the Corporation will use its reasonable best efforts to take such action or obtain such authorization, consent or
permit sufficiently in advance of the expiration of such rights, preferences or privileges to enable such holders to exercise such rights, preferences or privileges. 
  

	 	Section 4.4.	Notice of Dividends, etc.; Fixing Record Date for Holders of Receipts. 

 Whenever any cash dividend or other cash distribution shall become payable or any distribution other than cash shall be made, or if rights, preferences or privileges shall at any time be offered, with
respect to Stock, or whenever the Depositary shall receive notice of any meeting at which holders of Stock are entitled to vote or of which holders of Stock are entitled to notice, or whenever the Depositary and the Corporation shall decide it is
appropriate, the Depositary shall in each such instance fix a record date (which shall be the same date as the record date fixed by the Corporation with respect to, or otherwise in accordance with the terms of, the Stock, as identified in a written
notice to the Depositary of such record date) for the determination of the holders of Receipts who shall be entitled to receive such dividend, distribution, rights, preferences or privileges or the net proceeds of the sale thereof, or to give
instructions for the exercise of voting rights at any such meeting, or who shall be entitled to notice of such meeting or for any other appropriate reasons. 
  

	 	Section 4.5.	Voting Rights. 

 Subject
to the provisions of the Certificate of Designations, upon receipt of notice of any meeting at which the holders of Stock are entitled to vote, the Depositary shall, as soon as practicable thereafter, mail or transmit by such other method approved
by the Depositary, in its reasonable discretion, to the record holders of Receipts a notice prepared by the Corporation which shall contain (i) such information as is contained in such notice of meeting and (ii) a

  
 12 

 
statement that the holders may, subject to any applicable restrictions, instruct the Depositary as to the exercise of the voting rights pertaining to the amount of Stock represented by their
respective Depositary Shares (including an express indication that instructions may be given to the Depositary to give a discretionary proxy to a person designated by the Corporation) and a brief statement as to the manner in which such instructions
may be given. Upon the written request of the holders of Receipts on the relevant record date, the Depositary shall endeavor insofar as practicable to vote or cause to be voted, in accordance with the instructions set forth in such requests, the
maximum number of whole shares of Stock represented by the Depositary Shares evidenced by all Receipts as to which any particular voting instructions are received. The Corporation hereby agrees to take all reasonable action which may be deemed
necessary by the Depositary in order to enable the Depositary to vote such Stock or cause such Stock to be voted. In the absence of specific instructions from holders of Receipts, the Depositary will vote the Series B Preferred Stock represented by
the Depositary Shares evidenced by the Receipts of such holders proportionately with votes cast pursuant to instructions received from the other holders. 
  

	 	Section 4.6.	Changes Affecting Deposited Securities and Reclassifications, Recapitalizations, etc. 

Upon any change in par or stated value, split-up, combination or any other reclassification of the Stock, subject to the Certificate of
Designations, or upon any recapitalization, reorganization, merger or consolidation affecting the Corporation or to which it is a party, the Depositary may in its discretion with the approval of, and shall upon the instructions of, the Corporation,
and (in either case) in such manner as the Depositary may deem equitable, (i) make such adjustments as are certified by the Corporation in the fraction of an interest represented by one Depositary Share in one share of Stock and in the ratio of
the Redemption Price to the Preferred Stock Redemption Price, in each case as may be necessary fully to reflect the effects of such change in par or stated value, split-up, combination or other reclassification of Stock, or of such recapitalization,
reorganization, merger or consolidation and (ii) treat any securities which shall be received by the Depositary in exchange for or upon conversion of or in respect of the Stock as new deposited securities so received in exchange for or upon
conversion or in respect of such Stock. In any such case the Depositary may in its discretion, with the approval of the Corporation, execute and deliver additional Receipts or may call for the surrender of all outstanding Receipts to be exchanged
for new Receipts specifically describing such new deposited securities. Anything to the contrary herein notwithstanding, holders of Receipts shall have the right from and after the effective date of any such change in par or stated value, split-up,
combination or other reclassification of the Stock or any such recapitalization, reorganization, merger or consolidation to surrender such Receipts to the Depositary with instructions to convert, exchange or surrender the Stock represented thereby
only into or for, as the case may be, the kind and amount of shares of stock and other securities and property and cash into which the Stock represented by such Receipts might have been converted or for which such Stock might have been exchanged or
surrendered immediately prior to the effective date of such transaction. 

  
 13 

	 	Section 4.7.	Delivery of Reports. 

The Depositary shall furnish to holders of Receipts any reports and communications received from the Corporation which are received by
the Depositary and which the Corporation is required to furnish to the holders of the Stock. 
  

	 	Section 4.8.	Lists of Receipt Holders. 

Promptly upon request from time to time by the Corporation, the Depositary shall furnish to it a list, as of the most recent practicable
date, of the names, addresses and holdings of Depositary Shares of all record holders of Receipts. 
 ARTICLE V 

THE DEPOSITARY, THE DEPOSITARY’S 

AGENTS, THE REGISTRAR AND THE CORPORATION

  

	 	Section 5.1.	Maintenance of Offices, Agencies and Transfer Books by the Depositary; Registrar. 

Upon execution of this Deposit Agreement, the Depositary shall maintain at the Depositary’s Office, facilities for the execution and
delivery, registration and registration of transfer, surrender and exchange of Receipts, and at the offices of the Depositary’s Agents, if any, facilities for the delivery, registration of transfer, surrender and exchange of Receipts, all in
accordance with the provisions of this Deposit Agreement. 
 The Depositary shall keep books at the Depositary’s Office for
the registration and registration of transfer, surrender and exchange of Receipts, which books at all reasonable times shall be open for inspection by the record holders of Receipts; provided that any such holder requesting to exercise such right
shall certify to the Depositary that such inspection shall be for a proper purpose reasonably related to such person’s interest as an owner of Depositary Shares evidenced by the Receipts. 

The Depositary may close such books, at any time or from time to time, when deemed expedient by it in connection with the performance of
its duties hereunder. 
 The Corporation may appoint a Registrar for registration of the Receipts or the Depositary Shares
evidenced thereby. If the Receipts or the Depositary Shares evidenced thereby or the Stock represented by such Depositary Shares shall be listed on one or more national stock exchanges, the Corporation will appoint a Registrar for registration of
such Receipts or Depositary Shares in accordance with any requirements of such exchange. Such Registrar (which may be the Depositary if so permitted by the requirements of any such exchange) may be removed and a substitute Registrar appointed by the
Depositary upon the request or with the approval of the Corporation. If the Receipts, such Depositary Shares or such Stock are listed on one or more other stock exchanges, the Depositary will, at the request of the Corporation, arrange such
facilities for the delivery, registration, registration of transfer, surrender and exchange of such Receipts, such Depositary Shares or such Stock as may be required by law or applicable stock exchange regulation. 

  
 14 

	 	Section 5.2.	Prevention of or Delay in Performance by the Depositary, the Depositary’s Agents, the Registrar or the Corporation. 

Neither the Depositary nor any Depositary’s Agent nor any Registrar nor the Corporation shall incur any liability to any holder of
any Receipt if by reason of any provision of any present or future law, or regulation thereunder, of the United States of America or of any other governmental authority or, in the case of the Depositary, the Depositary’s Agent or the Registrar,
by reason of any provision, present or future, of the Corporation’s Fifth Restated Certificate of Incorporation, as amended (including the Certificate of Designations), or by reason of any act of God or war or other circumstance beyond the
control of the relevant party, the Depositary, the Depositary’s Agent, the Registrar or the Corporation shall be prevented or forbidden from, or subjected to any penalty on account of, doing or performing any act or thing which the terms of
this Deposit Agreement provide shall be done or performed; nor shall the Depositary, any Depositary’s Agent, any Registrar or the Corporation incur liability to any holder of a Receipt (i) by reason of any nonperformance or delay, caused
as aforesaid, in the performance of any act or thing which the terms of this Deposit Agreement shall provide shall or may be done or performed, or (ii) by reason of any exercise of, or failure to exercise, any discretion provided for in this
Deposit Agreement except as otherwise explicitly set forth in this Deposit Agreement. 
  

	 	Section 5.3.	Obligations of the Depositary, the Depositary’s Agents, the Registrar and the Corporation. 

Neither the Depositary nor any Depositary’s Agent nor any Registrar nor the Corporation assumes any obligation or shall be subject
to any liability under this Deposit Agreement to holders of Receipts other than for its negligence, willful misconduct or bad faith. Notwithstanding anything in this Deposit Agreement to the contrary, neither the Depositary, nor the
Depositary’s Agent nor any Registrar nor the Corporation shall be liable in any event for special, punitive, incidental, indirect or consequential losses or damages of any kind whatsoever (including but not limited to lost profits). 

Neither the Depositary nor any Depositary’s Agent nor any Registrar nor the Corporation shall be under, any obligation to appear in,
prosecute or defend any action, suit or other proceeding in respect of the Stock, the Depositary Shares or the Receipts which in its opinion may involve it in expense or liability unless indemnity satisfactory to it against all expense and liability
be furnished as often as may be required. 
 Neither the Depositary nor any Depositary’s Agent nor any Registrar nor the
Corporation shall be liable for any action or any failure to act by it in reasonable reliance upon the written advice of legal counsel or accountants, or information from any person presenting Stock for deposit, any holder of a Receipt or any other
person believed by it in good faith to be competent to give such information. The Depositary, any Depositary’s Agent, any Registrar and the Corporation may each rely and shall each be protected in acting upon or omitting to act upon any written
notice, request, direction or other document believed by it to be genuine and to have been signed or presented by the proper party or parties. 
 The Depositary will indemnify the Corporation against any liability which may directly arise out of acts performed or omitted by the Depositary due to its gross negligence, willful

  
 15 

 
misconduct or bad faith, however, in no event shall the Depositary be liable for consequential, special or indirect damages of any kind regardless of whether the Depositary is put on notice of
the possibility of such damages. The Depositary shall not be liable for the acts or omissions due to the gross negligence, willful misconduct or bad faith of any Depositary’s Agent, so long as such Depositary’s Agent was appointed with due
care. 
 The Depositary shall not be responsible for any failure to carry out any instruction to vote any of the shares of Stock
or for the manner or effect of any such vote made, as long as any such action or non-action is not taken in bad faith. The Depositary undertakes, and any Registrar shall be required to undertake, to perform such duties and only such duties as are
specifically set forth in this Deposit Agreement, and no implied covenants or obligations shall be read into this Deposit Agreement against the Depositary or any Registrar. 
 The Depositary, the Depositary’s Agents, and any Registrar may own and deal in any class of securities of the Corporation and its affiliates and in Receipts. The Depositary may also act as transfer
agent or registrar of any of the securities of the Corporation and its affiliates. 
 The Depositary shall not be under any
liability for interest on any monies at any time received by it pursuant to any of the provisions of this Deposit Agreement or of the Receipts, the Depositary Shares or the Stock nor shall it be obligated to segregate such monies from other monies
held by it, except as required by law. The Depositary shall not be responsible for advancing funds on behalf of the Corporation and shall have no duty or obligation to make any payments if it has not timely received sufficient funds to make timely
payments. 
 In the event the Depositary believes any ambiguity or uncertainty exists hereunder or in any notice, instruction,
direction, request or other communication, paper or document received by the Depositary hereunder, or in the administration of any of the provisions of this Deposit Agreement, the Depositary shall deem it necessary or desirable that a matter be
proved or established prior to taking, omitting or suffering to take any action hereunder, the Depositary may, in its sole discretion upon written notice to the Corporation, refrain from taking any action and shall be fully protected and shall not
be liable in any way to the Corporation, any holders of Receipts or any other person or entity for refraining from taking such action, unless the Depositary receives written instructions or a certificate signed by the Corporation which eliminates
such ambiguity or uncertainty to the satisfaction of the Depositary or which proves or establishes the applicable matter to the satisfaction of the Depositary. The Depositary shall not be liable to the Corporation or any holder of Receipts, for any
action taken by it in accordance with the written instruction of the Corporation. 
  

	 	Section 5.4.	Resignation and Removal of the Depositary; Appointment of Successor Depositary. 

The Depositary may at any time resign as Depositary hereunder by delivering notice of its election to do so to the Corporation, such
resignation to take effect upon the appointment of a successor Depositary and its acceptance of such appointment as hereinafter provided. 

  
 16 

 The Depositary may at any time be removed by the Corporation by notice of such removal
delivered to the Depositary, such removal to take effect upon the appointment of a successor Depositary hereunder and its acceptance of such appointment as hereinafter provided. 

In case at any time the Depositary acting hereunder shall resign or be removed, the Corporation shall, within 60 days after the
delivery of the notice of resignation or removal, as the case may be, appoint a successor Depositary, which shall be a bank or trust Corporation having its principal office in the United States of America and having a combined capital and surplus of
at least $50,000,000. If no successor Depositary shall have been so appointed and have accepted appointment within 60 days after delivery of such notice, the resigning or removed Depositary may petition any court of competent jurisdiction for
the appointment of a successor Depositary. Every successor Depositary shall execute and deliver to its predecessor and to the Corporation an instrument in writing accepting its appointment hereunder, and thereupon such successor Depositary, without
any further act or deed, shall become fully vested with all the rights, powers, duties and obligations of its predecessor and for all purposes shall be the Depositary under this Deposit Agreement, and such predecessor, upon payment of all sums due
it and on the written request of the Corporation, shall promptly execute and deliver an instrument transferring to such successor all rights and powers of such predecessor hereunder, shall duly assign, transfer and deliver all right, title and
interest in the Stock and any moneys or property held hereunder to such successor, and shall deliver to such successor a list of the record holders of all outstanding Receipts and such records, books and other information in its possession relating
thereto. Any successor Depositary shall promptly mail or transmit by such other method approved by such successor Depositary, in its reasonable discretion, notice of its appointment to the record holders of Receipts. 

Any entity into or with which the Depositary may be merged, consolidated or converted shall be the successor of such Depositary without
the execution or filing of any document or any further act, and notice thereof shall not be required hereunder. Such successor Depositary may authenticate the Receipts in the name of the predecessor Depositary or in the name of the successor
Depositary. 
  

	 	Section 5.5.	Corporate Notices and Reports. 

 The Corporation agrees that it will deliver to the Depositary, and the Depositary will, promptly after receipt thereof, transmit to the record holders of Receipts, in each case at the addresses recorded
in the Depositary’s books, copies of all notices and reports (including without limitation financial statements) required by law, by the rules of any national securities exchange upon which the Stock, the Depositary Shares or the Receipts are
listed or by the Corporation’s Fifth Restated Certificate of Incorporation, as amended (including the Certificate of Designations), to be furnished to the record holders of Receipts. Such transmission will be at the Corporation’s expense
and the Corporation will provide the Depositary with such number of copies of such documents as the Depositary may reasonably request. In addition, the Depositary will transmit to the record holders of Receipts at the Corporation’s expense such
other documents as may be requested by the Corporation. 

  
 17 

	 	Section 5.6.	Indemnification by the Corporation. 

 Notwithstanding Section 5.3 to the contrary, the Corporation shall indemnify the Depositary, any Depositary’s Agent and any Registrar (including each of their officers, directors, agents and
employees) against, and hold each of them harmless from, any loss, damage, cost, penalty, liability or expense (including the reasonable out-of-pocket costs and expenses of defending itself) which may arise out of acts performed, suffered or omitted
to be taken in connection with this Deposit Agreement and the Receipts by the Depositary, any Registrar or any of their respective agents (including any Depositary’s Agent) and any transactions or documents contemplated hereby, except for any
liability arising out of negligence, willful misconduct or bad faith on the respective parts of any such person or persons. The obligations of the Corporation set forth in this Section 5.6 shall survive any succession of any Depositary,
Registrar or Depositary’s Agent. 
  

	 	Section 5.7.	Fees, Charges and Expenses. 

 The Corporation agrees promptly to pay the Depositary the compensation to be agreed upon with the Corporation for all services rendered by the Depositary hereunder and to reimburse the Depositary for its
reasonable out-of-pocket expenses (including reasonable counsel fees and expenses) incurred by the Depositary without negligence, willful misconduct or bad faith on its part (or on the part of any Depositary’s Agent) in connection with the
services rendered by it (or such Depositary’s Agent) hereunder. The Corporation shall pay all charges of the Depositary in connection with the initial deposit of the Stock and the initial issuance of the Depositary Shares, all withdrawals of
shares of the Stock by owners of Depositary Shares, and any redemption or exchange of the Stock at the option of the Corporation. The Corporation shall pay all transfer and other taxes and governmental charges arising solely from the existence of
the depositary arrangements. All other transfer and other taxes and governmental charges shall be at the expense of holders of Depositary Shares evidenced by Receipts. If, at the request of a holder of Receipts, the Depositary incurs charges or
expenses for which the Corporation is not otherwise liable hereunder, such holder will be liable for such charges and expenses; provided, however, that the Depositary may, at its sole option, require a holder of a Receipt to prepay the Depositary
any charge or expense the Depositary has been asked to incur at the request of such holder of Receipts. The Depositary shall present its statement for charges and expenses to the Corporation at such intervals as the Corporation and the Depositary
may agree. 
 ARTICLE VI 
 AMENDMENT AND TERMINATION 
  

	 	Section 6.1.	Amendment. 

 The form of
the Receipts and any provisions of this Deposit Agreement may at any time and from time to time be amended by agreement between the Corporation and the Depositary in any respect which they may deem necessary or desirable; provided, however, that no
such amendment which shall materially and adversely alter the rights of the holders of Receipts shall be effective unless such amendment shall have been approved by holders of Receipts representing in the aggregate at least a two-thirds majority of
the Depositary Shares then 

  
 18 

 
outstanding. Every holder of an outstanding Receipt at the time any such amendment becomes effective shall be deemed, by continuing to hold such Receipt, to consent and agree to such amendment
and to be bound by the Deposit Agreement as amended thereby. In no event shall any amendment impair the right, subject to the provisions of Sections 2.5 and 2.6 and Article III, of any owner of Depositary Shares to surrender any Receipt
evidencing such Depositary Shares to the Depositary with instructions to deliver to the holder the Stock and all money and other property, if any, represented thereby, except in order to comply with mandatory provisions of applicable law or the
rules and regulations of any governmental body, agency or commission, or applicable stock exchange. 
  

	 	Section 6.2.	Termination. 

 This
Deposit Agreement may be terminated by the Corporation at any time upon not less than 60 days prior written notice to the Depositary, in which case, at least 30 days prior to the date fixed in such notice for such termination, the
Depositary will mail notice of such termination to the record holders of all Receipts then outstanding. 
 If any Receipts shall
remain outstanding after the date of termination of this Deposit Agreement, the Depositary thereafter shall discontinue the transfer of Receipts, shall suspend the distribution of dividends to the holders thereof and shall not give any further
notices (other than notice of such termination) or perform any further acts under this Deposit Agreement, except that the Depositary shall continue to collect dividends and other distributions pertaining to Stock, shall sell rights, preferences or
privileges as provided in this Deposit Agreement and shall deliver the number of whole or fractional shares of Stock and any money and other property, if any, represented by Receipts upon surrender thereof by the holders thereof. At any time after
the expiration of two years from the date of termination, the Depositary may sell Stock then held hereunder at public or private sale, at such places and upon such terms as it deems proper and may thereafter hold the net proceeds of any such sale,
together with any money and other property held by it hereunder, without liability for interest, for the benefit, pro rata in accordance with their holdings, of the holders of Receipts that have not theretofore been surrendered. After making such
sale, the Depositary shall be discharged from all obligations under this Deposit Agreement except to account for such net proceeds and money and other property; provided, that Sections 5.3 and 5.6 shall survive the termination of this Deposit
Agreement. 
 This Deposit Agreement will terminate automatically if (i) all outstanding Depositary Shares have been
redeemed pursuant to Section 2.8 or (ii) there shall have been made a final distribution in respect of the Stock in connection with any liquidation, dissolution or winding up of the Corporation and such distribution shall have been
distributed to the holders of Depositary Shares pursuant to Section 4.1 or 4.2, as applicable. 
 Upon the termination of
this Deposit Agreement, the Corporation shall be discharged from all obligations under this Deposit Agreement except for its obligations to the Depositary, any Depositary’s Agent and any Registrar under Sections 5.6 and 5.7. 

  
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 ARTICLE VII 
 MISCELLANEOUS 
  

	 	Section 7.1.	Counterparts. 

 This
Deposit Agreement may be executed in any number of counterparts, and by each of the parties hereto on separate counterparts, each of which counterparts, when so executed and delivered, shall be deemed an original, but all such counterparts taken
together shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this Deposit Agreement by facsimile or electronic mail shall be effective as delivery of a manually executed counterpart of this
Deposit Agreement. 
  

	 	Section 7.2.	Exclusive Benefit of Parties. 

 This Deposit Agreement is for the exclusive benefit of the parties hereto, and their respective successors hereunder, and shall not be deemed to give any legal or equitable right, remedy or claim to any
other person whatsoever. 
  

	 	Section 7.3.	Invalidity of Provisions. 

In case any one or more of the provisions contained in this Deposit Agreement or in the Receipts should be or become invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein or therein shall in no way be affected, prejudiced or disturbed thereby. 

 

	 	Section 7.4.	Notices. 

 Any and all
notices to be given to the Corporation hereunder or under the Receipts shall be in writing and shall be deemed to have been duly given if personally delivered or sent by mail, or by telegram, facsimile transmission or electronic mail confirmed by
letter, addressed to the Corporation at 
 The Charles Schwab Corporation 

211 Main Street 

San Francisco, California 94105 
 Attention: Chief Financial Officer 
 Facsimile: (415) 667-9731 

Email: Joseph.Martinetto@schwab.com, 
 Attention: Treasurer 
 Facsimile: 415-667-8565 

Email: bill.quinn@schwab.com 
 Attention: General Counsel 
 Facsimile: (415) 667-9814 

Email: carrie.dwyer@schwab.com 

or at any other addresses of which the Corporation shall have notified the Depositary in writing. 

  
 20 

 Any and all notices to be given to the Depositary hereunder or under the Receipts shall be
in writing and shall be deemed to have been duly given if personally delivered or sent by mail, or by facsimile transmission confirmed by letter, addressed to the Depositary at the Depositary’s Office at 

Wells Fargo Bank, N.A. 
 161 North Concord Exchange 
 South St. Paul, MN 55075 

Attention: Relationship Manager 
 Facsimile No.: 651-450-4078 
 or at any other address of which the Depositary shall have notified
the Corporation in writing. 
 Any and all notices to be given to any record holder of a Receipt hereunder or under the Receipts
shall be in writing and shall be deemed to have been duly given if personally delivered or sent by mail or facsimile transmission confirmed by letter, addressed to such record holder at the address of such record holder as it appears on the books of
the Depositary, or if such holder shall have timely filed with the Depositary a written request that notices intended for such holder be mailed to some other address, at the address designated in such request. 

Delivery of a notice sent by mail or by facsimile transmission shall be deemed to be effected at the time when a duly addressed letter
containing the same (or a confirmation thereof in the case of a facsimile transmission) is deposited, postage prepaid, in a post office letter box. The Depositary or the Corporation may, however, act upon any facsimile transmission received by it
from the other or from any holder of a Receipt, notwithstanding that such facsimile transmission shall not subsequently be confirmed by letter or as aforesaid. 
  

	 	Section 7.5.	Depositary’s Agents. 

The Depositary may from time to time appoint Depositary’s Agents to act in any respect for the Depositary for the purposes of this
Deposit Agreement and may at any time appoint additional Depositary’s Agents and vary or terminate the appointment of such Depositary’s Agents. The Depositary will promptly notify the Corporation in advance of any such action. 

 

	 	Section 7.6.	Appointment of Registrar in Respect of the Receipts. 

 The Corporation hereby appoints the Depositary as Registrar in respect of the Receipts and the Depositary hereby accepts such appointments. 

 

	 	Section 7.7.	Holders of Receipts Are Parties. 

 The holders of Receipts from time to time shall be parties to this Deposit Agreement and shall be bound by all of the terms and conditions hereof and of the Receipts by acceptance of delivery thereof.

  
 21 

	 	Section 7.8.	Governing Law. 

 This
Deposit Agreement and the Receipts and all rights hereunder and thereunder and provisions hereof and thereof shall be governed by, and construed in accordance with, the laws of the State of New York, not including the conflict or choice of law rules
other than Section 5-1401 of the General Obligations Law. Each party hereby agrees that any action, suit or proceeding arising out of or relating to this Deposit Agreement or the Receipts, or such rights or provisions, may be brought in or
removed to the U.S. District Court for the Southern District of New York or, if that court does not have subject matter jurisdiction, any state court located in The City and County of New York. Each party hereby accepts, for itself and in
respect of its property, generally and unconditionally, to submit to the non-exclusive jurisdiction of, and venue in, such courts (and courts of appeals therefrom) with respect to any such action, suit or proceeding, and hereby waives the defenses
of improper venue or inconvenient forum with respect thereto. 
  

	 	Section 7.9.	Inspection of Deposit Agreement. 

 Copies of this Deposit Agreement shall be filed with the Depositary and the Depositary’s Agents and shall be open to inspection during business hours at the Depositary’s Office and the
respective offices of the Depositary’s Agents, if any, by any holder of a Receipt. 
  

	 	Section 7.10.	Headings. 

 The headings
of articles and sections in this Deposit Agreement and in the form of the Receipt set forth in Exhibit A hereto have been inserted for convenience only and are not to be regarded as a part of this Deposit Agreement or the Receipts or to have
any bearing upon the meaning or interpretation of any provision contained herein or in the Receipts. 
  

	 	Section 7.11.	Confidentiality. 

 The
Depositary and the Corporation agree that all books, records, information and data pertaining to the business of the other party, including, inter alia, personal, non-public holder information, which are exchanged or received pursuant to the
negotiation or the carrying out of this Deposit Agreement, shall remain confidential, and shall not be voluntarily disclosed to any other person, except as may be required by law or legal process. 

  
 22 

 IN WITNESS WHEREOF, the Corporation and the Depositary have duly executed this Deposit
Agreement as of the day and year first above set forth, and all holders of Receipts shall become parties hereto by and upon acceptance by them of delivery of Receipts issued in accordance with the terms hereof. 

 

			
	THE CHARLES SCHWAB CORPORATION
		
	By:	 	 /s/ Joseph R. Martinetto

		 	Name: Joseph R. Martinetto
		 	 Title: Executive Vice President and
         Chief Financial Officer

	
	WELLS FARGO BANK, N.A.
		
	By:	 	 /s/ Becky Paulson

		 	Name: Becky Paulson
		 	Title: Vice President

 Exhibit A 

[FORM OF FACE OF RECEIPT] 

Unless this receipt is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to The
Charles Schwab Corporation or its agent for registration of transfer, exchange, or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and
any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered
owner hereof, Cede & Co., has an interest herein. 
 DEPOSITARY SHARES 

[                    ] 

DEPOSITARY RECEIPT FOR DEPOSITARY SHARES EACH 
 REPRESENTING 1/40TH OF ONE SHARE OF 6.00% NON-CUMULATIVE PERPETUAL 
 PREFERRED
STOCK, SERIES B 
 OF 
 THE CHARLES SCHWAB CORPORATION 
 INCORPORATED UNDER THE LAWS OF THE STATE OF
DELAWARE 
 CUSIP 808513 204 
 SEE REVERSE FOR CERTAIN DEFINITIONS 
 Dividend Payment Dates: Beginning September 1, 2012,
each March 1, June 1, September 1 and December 1. 
 Wells Fargo Bank, N.A., a national banking
association formed under the laws of the United States, as Depositary (the “Depositary”), hereby certifies that Cede & Co. is the registered owner of
[                    ][(            )] DEPOSITARY SHARES (“Depositary Shares”),
each Depositary Share representing 1/40th of one share of 6.00% Non-Cumulative Perpetual Preferred Stock, Series B, $0.01 par value, liquidation preference $1,000 per share, (the “Stock”), of The Charles Schwab Corporation, a
Delaware corporation (the “Corporation”), on deposit with the Depositary, subject to the terms and entitled to the benefits of the Deposit Agreement dated as of June 6, 2012 (the “Deposit Agreement”), among the
Corporation, the Depositary and the holders from time to time of the Depositary Receipts. By accepting this Depositary Receipt, the holder hereof becomes a party to and agrees to be bound by all the terms and conditions of the Deposit Agreement.
This Depositary Receipt shall not be valid or obligatory for any purpose or entitled to any benefits under the Deposit Agreement unless it shall have been executed by the Depositary by the manual signature of a duly authorized officer or, if
executed in facsimile by the Depositary, countersigned by a Registrar in respect of the Depositary Receipts by the manual signature of a duly authorized officer thereof. 
 This Depositary Receipt is transferable in New York, New York and Saint Paul, Minnesota. 

  
 A-1

			
	Dated:	 	  

	
	Wells Fargo Bank, N.A., Depositary

			
		
	By:	 	  

		 	Authorized Officer

  
 A-2

 [FORM OF REVERSE OF RECEIPT] 

THE CHARLES SCHWAB CORPORATION 
 THE CHARLES SCHWAB CORPORATION WILL FURNISH WITHOUT CHARGE TO EACH HOLDER OF A RECEIPT WHO SO REQUESTS A COPY OF THE DEPOSIT AGREEMENT AND A COPY OR SUMMARY OF THE CERTIFICATE OF DESIGNATIONS ESTABLISHING
THE 6.00% NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES B, OF THE CHARLES SCHWAB CORPORATION. ANY SUCH REQUEST IS TO BE ADDRESSED TO THE DEPOSITARY NAMED ON THE FACE OF THIS RECEIPT. 

 
  

The Corporation will furnish without charge to each holder of a receipt who so requests the powers, designations, preferences and
relative, participating, optional or other special rights of each class of stock or series thereof of the Corporation, and the qualifications, limitations or restrictions of such preferences and/or rights. Such request may be made to the Corporation
or to the Registrar. 
 EXPLANATION OF ABBREVIATIONS 
 The following abbreviations when used in the form of ownership on the face of this certificate shall be construed as though they were written out in full according to applicable laws or regulations.
Abbreviations in addition to those appearing below may be used. 
  

							
	Abbreviation	  	Equivalent Phrase	  	Abbreviation	  	Equivalent Phrase
	 JT TEN
	  	As joint tenants, with right of survivorship and not as tenants in common	  	TEN BY ENT	  	As tenants by the entireties
	 TEN IN COM
	  	As tenants in common	  	UNIF GIFT MIN ACT	  	Uniform Gifts to Minors Act

  

											
	Abbreviation  	  	Equivalent Word	  	Abbreviation	  	Equivalent Word	  	Abbreviation	  	Equivalent Word
	 ADM
	  	Administrator(s), Administratrix	  	EX	  	Executor(s), Executrix	  	PAR	  	Paragraph
	 AGMT
	  	Agreement	  	FBO	  	For the benefit of	  	PL	  	Public Law
	 ART
	  	Article	  	FDN	  	Foundation	  	TR	  	(As) trustee(s), for, of
	 CH
	  	Chapter	  	GDN	  	Guardian(s)	  	U	  	Under
	 CUST
	  	Custodian for	  	GDNSHP	  	Guardianship	  	UA	  	Under agreement
	 DEC
	  	Declaration	  	MIN	  	Minor(s)	  	UW	  	Under will of, Of will of, Under last will & testament
	 EST
	  	Estate, of Estate of  	  	 	  	 	  	 	  	 

  
 A-3

 For value received,
                                         
    hereby sell(s), assign(s) and transfer(s) unto 
  

 
 PLEASE INSERT SOCIAL SECURITY OR
OTHER IDENTIFYING NUMBER OF ASSIGNEE 
 PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE

 Depositary Shares represented by the within Receipt, and do(es) hereby irrevocably constitute and appoint
                                         
                                         
                                         
                                         
Attorney to transfer the said Depositary Shares on the books of the within named Depositary with full power of substitution in the premises. 
  

									
	Dated:	 	  
	 		 		 	
					
		 		 		 		 	NOTICE: The signature to the assignment must correspond with the name as written upon the face of this Receipt in every particular, without alteration or
enlargement or any change whatsoever.

 SIGNATURE GUARANTEED 
 NOTICE: The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations, and credit unions with membership in an approved signature guarantee
medallion program), pursuant to Rule 17Ad-15 under the Securities Exchange Act of 1934. 

  
 A-4

 Exhibit B 

[Certificate of Designations] 
 [Included in Exhibit 3.1]Current Excess Servicing Spread Acquisition Agreement

 Exhibit 10.1 
 Execution Copy 
 CURRENT EXCESS SERVICING SPREAD ACQUISITION AGREEMENT

 FOR FHLMC MORTGAGE LOANS 
 by and between 
 NATIONSTAR MORTGAGE LLC 

(Seller) 

and 

NIC MSR III LLC 
 (Purchaser) 
 Dated and effective as of May 31, 2012 

 Table of Contents 

 

							
	 ARTICLE I DEFINITIONS; GENERAL INTERPRETIVE PRINCIPLES
	  	 	2	  
	 Section 1.01
	  	 Definitions
	  	 	2	  
	 Section 1.02
	  	 General Interpretive Principles
	  	 	12	  
		
	 ARTICLE II PROCEDURES; ITEMS TO BE DELIVERED
	  	 	13	  
	 Section 2.01
	  	 Sale of Current Excess Servicing Spread
	  	 	13	  
	 Section 2.02
	  	 Grant of Security Interest
	  	 	13	  
	 Section 2.03
	  	 Items to be Delivered on the Agreement Date
	  	 	13	  
	 Section 2.04
	  	 Items to be Delivered on the Closing Date
	  	 	14	  
	 Section 2.05
	  	 Closing Date Transactions
	  	 	16	  
		
	 ARTICLE III PAYMENTS AND DISTRIBUTIONS
	  	 	16	  
	 Section 3.01
	  	 Purchase Price and Prepayment Adjustments
	  	 	16	  
	 Section 3.02
	  	 Payments by Purchaser
	  	 	17	  
	 Section 3.03
	  	 Accounts
	  	 	18	  
	 Section 3.04
	  	 Priority of Payments
	  	 	20	  
	 Section 3.05
	  	 Withdrawals from the Current Spread Reserve Account
	  	 	22	  
	 Section 3.06
	  	 Payment to Seller of Base Servicing Fee
	  	 	22	  
	 Section 3.07
	  	 Intent and Characterization
	  	 	22	  
		
	 ARTICLE IV REPRESENTATIONS AND WARRANTIES OF SELLER
	  	 	23	  
	 Section 4.01
	  	 Due Organization and Good Standing
	  	 	23	  
	 Section 4.02
	  	 Authority and Capacity
	  	 	23	  
	 Section 4.03
	  	 Agency Consents
	  	 	24	  
	 Section 4.04
	  	 Title to the Mortgage Servicing Rights
	  	 	24	  
	 Section 4.05
	  	 Effective Agreements
	  	 	24	  
	 Section 4.06
	  	 No Accrued Liabilities
	  	 	24	  
	 Section 4.07
	  	 Seller/Servicer Standing
	  	 	24	  
	 Section 4.08
	  	 MERS Membership
	  	 	25	  
	 Section 4.09
	  	 Agency Set-off Rights
	  	 	25	  
	 Section 4.10
	  	 Ability to Perform; Solvency
	  	 	25	  
	 Section 4.11
	  	 Material Documents
	  	 	25	  
	 Section 4.12
	  	 Obligations with Respect to Origination
	  	 	25	  
	 Section 4.13
	  	 No Actions
	  	 	25	  
		
	 ARTICLE V REPRESENTATIONS AND WARRANTIES AS TO MORTGAGE LOANS AND SERVICING
	  	 	26	  
	 Section 5.01
	  	 Servicing Agreements; Applicable Laws
	  	 	26	  
	 Section 5.02
	  	 Related Escrow Accounts
	  	 	26	  
	 Section 5.03
	  	 Accuracy of Servicing Information
	  	 	26	  

  
 i 

							
	 Section 5.04
	  	 No Purchaser Responsibility
	  	 	26	  
	 Section 5.05
	  	 Location of Credit Files
	  	 	27	  
	 Section 5.06
	  	 Representations Concerning the Current Excess Servicing Spread
	  	 	27	  
		
	 ARTICLE VI REPRESENTATIONS AND WARRANTIES OF PURCHASER
	  	 	28	  
	 Section 6.01
	  	 Due Organization and Good Standing
	  	 	28	  
	 Section 6.02
	  	 Authority and Capacity
	  	 	28	  
	 Section 6.03
	  	 Effective Agreements
	  	 	28	  
	 Section 6.04
	  	 Sophisticated Investor
	  	 	29	  
	 Section 6.05
	  	 No Actions
	  	 	29	  
		
	 ARTICLE VII SELLER COVENANTS
	  	 	29	  
	 Section 7.01
	  	 Servicing Obligations
	  	 	29	  
	 Section 7.02
	  	 Cooperation
	  	 	29	  
	 Section 7.03
	  	 Financing Statements
	  	 	30	  
	 Section 7.04
	  	 Supplemental Information
	  	 	30	  
	 Section 7.05
	  	 Access to Information
	  	 	30	  
	 Section 7.06
	  	 Home Affordable Modification Program
	  	 	30	  
	 Section 7.07
	  	 Distribution Date Data Tapes and Reports
	  	 	31	  
	 Section 7.08
	  	 Financial Statements and Officer’s Certificates
	  	 	33	  
	 Section 7.09
	  	 Monthly Management Calls
	  	 	33	  
	 Section 7.10
	  	 Timely Payment of Agency Obligations
	  	 	34	  
	 Section 7.11
	  	 Servicing Agreements
	  	 	34	  
	 Section 7.12
	  	 Transfer of Mortgage Servicing Rights
	  	 	34	  
	 Section 7.13
	  	 Consents to Transaction Documents
	  	 	35	  
	 Section 7.14
	  	 Accounts
	  	 	35	  
	 Section 7.15
	  	 Notification of Certain Events
	  	 	35	  
	 Section 7.16
	  	 Financing; Pledge of Current Excess Servicing Spread
	  	 	35	  
	 Section 7.17
	  	 Existence, etc.
	  	 	35	  
	 Section 7.18
	  	 Consent to Sub-Servicing
	  	 	37	  
	 Section 7.19
	  	 Nonpetition Covenant
	  	 	37	  
	 Section 7.20
	  	 Data Tape; Schedule of Mortgage Loans
	  	 	37	  
	 Section 7.21
	  	 Refinancing of Mortgage Loans
	  	 	37	  
		
	 ARTICLE VIII CONDITIONS PRECEDENT TO OBLIGATIONS OF PURCHASER
	  	 	37	  
	 Section 8.01
	  	 Correctness of Representations and Warranties
	  	 	37	  
	 Section 8.02
	  	 Compliance with Conditions
	  	 	38	  
	 Section 8.03
	  	 Company Resolution
	  	 	38	  
	 Section 8.04
	  	 No Material Adverse Change
	  	 	38	  
	 Section 8.05
	  	 Consents
	  	 	38	  
	 Section 8.06
	  	 Delivery of Transaction Documents
	  	 	38	  

  
 ii 

							
	 Section 8.07
	  	 Certificate of Seller
	  	 	38	  
	 Section 8.08
	  	 Valuation
	  	 	39	  
	 Section 8.09
	  	 Opinions of Counsel
	  	 	39	  
	 Section 8.10
	  	 Acquisition of Mortgage Servicing Rights by Seller
	  	 	39	  
	 Section 8.11
	  	 Good Standing Certificate of Seller
	  	 	39	  
		
	 ARTICLE IX CONDITIONS PRECEDENT TO OBLIGATIONS OF SELLER
	  	 	39	  
	 Section 9.01
	  	 Correctness of Representations and Warranties
	  	 	39	  
	 Section 9.02
	  	 Compliance with Conditions
	  	 	40	  
	 Section 9.03
	  	 Company Resolution
	  	 	40	  
	 Section 9.04
	  	 Reserved
	  	 	40	  
	 Section 9.05
	  	 Certificate of Purchaser
	  	 	40	  
	 Section 9.06
	  	 Good Standing Certificate of Purchaser
	  	 	40	  
		
	 ARTICLE X INDEMNIFICATION; CURE OR REPURCHASE
	  	 	41	  
	 Section 10.01
	  	 Indemnification by Seller
	  	 	41	  
	 Section 10.02
	  	 Indemnification by Purchaser
	  	 	43	  
	 Section 10.03
	  	 Award of Damages
	  	 	44	  
	 Section 10.04
	  	 Other Rights
	  	 	44	  
		
	 ARTICLE XI MISCELLANEOUS
	  	 	45	  
	 Section 11.01
	  	 Costs and Expenses
	  	 	45	  
	 Section 11.02
	  	 Confidentiality
	  	 	45	  
	 Section 11.03
	  	 Broker’s Fees
	  	 	46	  
	 Section 11.04
	  	 Relationship of Parties
	  	 	46	  
	 Section 11.05
	  	 Survival of Representations and Warranties
	  	 	47	  
	 Section 11.06
	  	 Notices
	  	 	47	  
	 Section 11.07
	  	 Waivers
	  	 	47	  
	 Section 11.08
	  	 Entire Agreement; Amendment
	  	 	48	  
	 Section 11.09
	  	 Binding Effect
	  	 	48	  
	 Section 11.10
	  	 Headings
	  	 	48	  
	 Section 11.11
	  	 Applicable Law
	  	 	48	  
	 Section 11.12
	  	 Incorporation of Exhibits
	  	 	48	  
	 Section 11.13
	  	 Counterparts
	  	 	49	  
	 Section 11.14
	  	 Severability of Provisions
	  	 	49	  
	 Section 11.15
	  	 Public Announcement
	  	 	49	  
	 Section 11.16
	  	 Assignment
	  	 	49	  
	 Section 11.17
	  	 Termination
	  	 	50	  
	 Section 11.18
	  	 Third Party Beneficiaries
	  	 	50	  

  
 iii

 EXHIBITS 
 Exhibit A – Form of Assignment Agreement for Mortgage Loans 
 Exhibit B – Schedule of
Mortgage Loans 
 Exhibit B-1 – Estimated Base Purchase Price Computation Worksheet 
 Exhibit C – Seller’s Officer’s Certificate 
 Exhibit D – Purchaser’s
Officer’s Certificate 
 Exhibit E – Location of Credit Files 
 Exhibit F – Form of Summary Remittance Report 
 Exhibit G – Form of Delinquency Report

 Exhibit H – Form of Disbursement Report 
 Exhibit I – Seller Jurisdictions and Recording Offices 

  
 iv 

 CURRENT EXCESS SERVICING SPREAD ACQUISITION AGREEMENT FOR 

FHLMC MORTGAGE LOANS 
 This CURRENT EXCESS SERVICING SPREAD ACQUISITION AGREEMENT FOR FHLMC MORTGAGE LOANS (as amended, restated, or otherwise modified and in effect from time to time, this “Agreement”), dated
as of May 31, 2012 (the “Agreement Date”), is by and between NIC MSR III LLC, a Delaware limited liability company (together with its successors and assigns, the “Purchaser”), and Nationstar Mortgage LLC, a
Delaware limited liability company (together with its successors and assigns, the “Seller”) (the Purchaser and the Seller will collectively be referred to as the “Parties” and each, a “Party”).

 W I T N E S S E T H: 
 WHEREAS, Seller and Bank of America, National Association, a national banking association (“BofA”), have entered into the Mortgage Servicing Rights Purchase and Sale Agreement,
dated as of May 31, 2012, pursuant to which Seller will acquire and assume all right, title and interest in mortgage servicing rights to a portfolio of residential mortgage loans owned or securitized by the Agency (as defined herein);

 WHEREAS, by acquiring such mortgage servicing rights, Seller is entitled to a servicing spread and other incidental
fees with respect to the related residential mortgage loans; 
 WHEREAS, the servicing spread, together with the
Ancillary Income (as defined below), exceeds the compensation that Seller requires to service the related residential mortgage loans; 
 WHEREAS, Seller desires to sell, and Purchaser desires to purchase, a portion of the servicing spread that exceeds such required compensation amount; and 

WHEREAS, Purchaser and Seller desire to set forth the terms and conditions pursuant to which Seller will sell, transfer and assign
to Purchaser, all of Seller’s right, title and interest in and to a portion of the servicing spread that exceeds the Seller’s required compensation amount, and Purchaser will purchase all right, title and interest in and to such portion of
the servicing spread; 

 NOW, THEREFORE, in consideration of the mutual promises, covenants and conditions and
for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and upon the terms and subject to the conditions set forth herein, the Parties hereto agree as follows: 

ARTICLE I 

DEFINITIONS; GENERAL INTERPRETIVE PRINCIPLES 
 Section 1.01 Definitions. 
 Whenever used herein, the following words
and phrases, unless the context otherwise requires, shall have the following meanings: 
 Accepted Servicing Practices:
With respect to any Mortgage Loan, those accepted and prudent mortgage servicing practices (including collection procedures) which are in accordance with Agency servicing practices and procedures as set forth in the applicable Servicing Agreements,
and in a manner at least equal in quality to the servicing that Seller provides to mortgage loans which it owns in its own portfolio. 
 Agency: The entity formerly known as the Federal Home Loan Mortgage Corporation, or any successor thereto. 
 Agreement: As defined in the preamble hereof. 
 Agreement Date: As
defined in the preamble hereof. 
 Ancillary Income: All incidental servicing fees (such as late fees, assignment
transfer fees, returned check fees, special services fees, amortization schedule fees, HAMP, modification and incentive income, etc.) that are supplemental to the servicing spread payable to the servicer pursuant to the Servicing Agreements.

 Applicable Law: With reference to any Person, all laws (including common law), statutes, regulations, ordinances,
treaties, judgments, decrees, injunctions, writs and orders of any court, governmental agency or authority and rules, regulations, orders, directives, licenses and permits of any Governmental Authority applicable to such Person or its property or in
respect of its operations. 
 Assignment Agreement: An assignment agreement substantially in the form of Exhibit A
to this Agreement or in such other form as mutually agreed upon by the Parties. 
 Bank: Wells Fargo Bank, National
Association, or any successor thereto, or another financial institution mutually agreed upon by the Parties or any successor thereto, each in its capacity as “Bank” under the Current Spread Custodial Account Control Agreement or the
Current Spread Reserve Account Control Agreement, as applicable, or any third party custodian or trustee in similar capacity under any replacement account control agreements. 
 Base Purchase Price: The meaning given to such term in Section 3.01(a). 
 Base Servicing Fee: With respect to a Collection Period, 

  
 2 

 (a) for Mortgage Loans that were BofA-Serviced Mortgage Loans during any part of a
Collection Period, the Interim Servicing Fee and all other amounts payable to Bank of America, National Association pursuant to Section 8 of the Interim Servicing Addendum for such Collection Period; and 

(b) for Mortgage Loans that were Nationstar-Serviced Mortgage Loans during any part of a Collection Period, an amount equal to the
product of (A) the aggregate outstanding principal balance of the Mortgage Loans as of the related Measurement Date, (B) the Base Servicing Fee Rate and (C) (i) in the case of the initial Collection Period, a fraction, the
numerator of which is the number of days in the period from and including the Servicing Transfer Date to and including the last day of the initial Collection Period, and the denominator of which is 360, and (ii) in the case of all other
Collection Periods, 1/12; provided that the Base Servicing Fee with respect to any Mortgage Loan whose Servicing Agreement is terminated during a Collection Period shall be pro-rated to the actual number of days within such Collection Period
in which such Mortgage Loan was serviced by Seller. 
 Base Servicing Fee Rate: 0.08% per annum. 

BofA: As defined in the Recitals hereof. 
 BofA-Holdback: The “Holdback” as defined in the Mortgage Servicing Rights Purchase and Sale Agreement. 
 BofA-Repurchase Payment: Any payment remitted by BofA to Seller representing a “Repurchase Price” payment pursuant to and determined in the manner specified in Section 10.03 of the
Mortgage Servicing Rights Purchase and Sale Agreement. 
 BofA-Serviced Mortgage Loan: A Mortgage Loan serviced by BofA
pursuant to the Interim Servicing Addendum. 
 Business Day: Any day other than (a) a Saturday or Sunday, (b) a
day on which banking institutions in the States of California, Texas or New York are authorized or obligated by law or by executive order to be closed or (c) such other days as agreed upon by the Parties. 

Closing Date: With respect to the sale of the Current Excess Servicing Spread, the Business Day on which the purchase of the
Mortgage Servicing Rights under the Mortgage Servicing Rights Purchase and Sale Agreement has been consummated and all conditions precedent to the execution and delivery of the Assignment Agreement have been satisfied or waived. 

Code: The Internal Revenue Code of 1986, as amended from time to time. 

Collateral: The meaning given to such term in Section 2.02. 

Collection Period: With respect to any Distribution Date, the calendar month preceding the month in which such Distribution Date
occurs. 

  
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 Consolidated Tangible Net Worth: (i) The net worth of Seller and its
consolidated subsidiaries, on a combined basis, determined in accordance with GAAP, minus (ii) all intangibles determined in accordance with GAAP (including goodwill, capitalized financing costs and capitalized administration costs but
excluding originated and purchased mortgage servicing rights or retained residual securities) and any and all advances to, investments in and receivables held from affiliates; provided, however, that the non-cash effect (gain or loss)
of any mark-to-market adjustments made directly to stockholders’ equity for fluctuation of the value of financial instruments as mandated under the Statement of Financial Accounting Standards No. 133 (or any successor statement) shall be
excluded from the calculation of Consolidated Tangible Net Worth. 
 Control: The meaning specified in Section 8-106
of the UCC. 
 Credit File: Those documents, which may be originals, copies or electronically imaged, pertaining to each
Mortgage Loan, held by or on behalf of Seller in connection with the servicing of the Mortgage Loan, which may include Mortgage Loan Documents and the credit documentation relating to the origination of such Mortgage Loan, and any documents gathered
during the Servicing of a Mortgage Loan. 
 Current Excess Servicing Spread: The rights of Seller, severable from each
(and all) of the other rights under the applicable Servicing Agreements, to a percentage of the Total Servicing Spread, which percentage is equal to the Current Excess Servicing Spread Percentage. 

Current Excess Servicing Spread Percentage: 65%. 
 Current Spread Custodial Account Agreement: The applicable deposit account agreement and other related account documentation governing the Third Party Controlled Current Spread Custodial Account.

 Current Spread Custodial Account Control Agreement: The account control agreement among Seller, Purchaser and Wells
Fargo Bank, National Association, or any other institution agreed upon by the Parties, as Bank, dated on or before the Closing Date, entered into with respect to the Third Party Controlled Current Spread Custodial Account, as amended, restated,
supplemented or otherwise modified from time to time. 
 Current Spread Reserve Account: The account specified in the
Current Spread Reserve Account Control Agreement and maintained by Wells Fargo Bank, National Association or any successor thereto, or any other third party custodian or trustee selected by Purchaser. 

Current Spread Reserve Account Agreement: The applicable deposit account agreement and other related account documentation
governing the Current Spread Reserve Account. 
 Current Spread Reserve Account Control Agreement: The account control
agreement among Seller, Purchaser and Wells Fargo Bank, National Association, or any other institution agreed upon by the Parties, as Bank, dated on or before the Closing Date, entered into with respect to the Current Spread Reserve Account, as
amended, restated, supplemented or otherwise modified from time to time. 

  
 4 

 Current Spread Reserve Account Deposit Event: The meaning given to such term in
Section 3.03(c). 
 Current Spread Reserve Account Required Amount: The meaning given to such term in
Section 3.03(c). 
 Custodian: A custodian of Credit Files or any part thereof as identified by the
Seller to the Purchaser in writing on or prior to the Closing Date as the same may be amended and supplemented from time to time by the Seller by providing a written notice of any such update to the Purchaser. 

Data Tape: The list of all mortgage loans, dated as of the date specified therein, whose Mortgage Servicing Rights will be sold,
or that are anticipated to be sold, as applicable, to Seller under the Mortgage Servicing Rights Purchase and Sale Agreement. 

Distribution Date: The 10th day of each calendar month, or if such day is not a Business Day, the prior Business Day, beginning in
the month following the Closing Date, or such other day as mutually agreed upon by Seller and Purchaser. 
 Electronic Data
File: A computer tape or other electronic medium generated by or on behalf of Seller and delivered or transmitted to or on behalf of Purchaser which provides information relating to the Mortgage Loans. 

Eligible Servicing Agreement: A Servicing Agreement in respect of which the following eligibility requirements have been
satisfied: 
 (a) such Servicing Agreement is in full force and effect, and is in all respects genuine as appearing on its face
or as represented in the books and records of Seller, and no event of default, early amortization event, termination event, or other event giving any party thereto (including with notice or lapse of time or both) the right to terminate Seller as
servicer thereunder for cause has occurred and is continuing; and 
 (b) Seller has not resigned or been terminated as servicer
under such Servicing Agreement and has no actual knowledge of any pending or threatened action to terminate Seller, as servicer (whether for cause or without cause). 
 Entitlement Holder: The meaning specified in Section 8-102(a)(7) of the UCC. 
 Estimated Base Purchase Price: As set forth in the Estimated Base Purchase Price Computation Worksheet. 
 Estimated Base Purchase Price Computation Worksheet: A worksheet in the form of Exhibit B-1 hereto based on the information regarding Mortgage Loans as of the previous month-end trial
balance. 
 Expense Amount: As defined in Section 10.01(b) hereof. 

Expense Amount Accountant’s Letter: As defined in Section 10.01(b) hereof. 

  
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 Expense Amount Tax Opinion: As defined in Section 10.01(b) hereof.

 Expense Escrow Account: As defined in Section 10.01(b) hereof. 

FHLMC Acknowledgment Agreement: The acknowledgment agreement by and among the Agency, Seller and Purchaser, in form and substance
reasonably acceptable to Purchaser, dated on or before the Closing Date, pursuant to which the Agency consents to the sale of the excess servicing spread and other arrangements specified therein. 

Future Spread Agreement for FHLMC Mortgage Loans: The Future Spread Agreement for FHLMC Mortgage Loans, dated as of the date
hereof, by and between Seller and Purchaser, as may be amended, restated, or otherwise modified and in effect from time to time. 
 GAAP: Generally accepted accounting principles in the United States of America as in effect from time to time set forth in the opinions and pronouncements of the Accounting Principles Board and the
American Institute of Certified Public Accountants and the statements and pronouncements of the Financial Accounting Standards Board, or in such other statements by such other entity as may be in general use by significant segments of the accounting
profession, that are applicable to the circumstances as of the date of determination. 
 Governmental Authority: With
respect to any Person, any nation or government, any state or other political subdivision, agency or instrumentality thereof, any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to
government and any court or arbitrator having jurisdiction over such Person, any of its subsidiaries or any of its properties. 

Grant: To grant, bargain, sell, warrant, alienate, remise, demise, release, convey, assign, transfer, mortgage, pledge, create and
grant a security interest in and right of setoff against, deposit, set over or confirm. 
 HAMP: The meaning given to
such term in Section 7.06. 
 HAMP Loans: The meaning given to such term in Section 7.06.

 Holdback Amount: An amount equal to the product of (i) the amount of the BofA-Holdback multiplied by
(ii) the Current Excess Servicing Spread Percentage. 
 Holder Register: As defined in Section 11.17(b)
hereof. 
 Indemnity Loan: As defined in Section 10.01(b) hereof. 

Indemnity Loan Agreement: As defined in Section 10.01(b) hereof. 

Interim Servicing Addendum: The Interim Servicing Addendum, dated as of May 31, 2012, by and between BofA and Seller.

 Interim Servicing Fee: The meaning given to such term in the Interim Servicing Addendum. 

  
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 IRS: The United States Internal Revenue Service. 

Lien: Any mortgage, deed of trust, pledge, hypothecation, collateral assignment, charge, deposit, arrangement, encumbrance, lien
(statutory or other), security interest or preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever intended to assure payment of any indebtedness or the performance of any other obligation,
including any conditional sale or other title retention agreement. 
 Lockbox Account: An account maintained by Wells
Fargo Bank, National Association or another third party custodian or trustee selected by Purchaser for the purpose of receiving Servicing Spread Collections. 
 Loss or Losses: Any and all direct, actual and out-of-pocket losses (including any loss in the value in the Current Excess Servicing Spread), damages, deficiencies, claims, costs or
expenses, including reasonable attorneys’ fees and disbursements, excluding (i) any amounts attributable to or arising from overhead allocations, general or administrative costs and expenses, or any cost for the time of any Party’s
employees, (ii) consequential losses or damages consisting of speculative lost profits, lost investment or business opportunity, damage to reputation or operating losses, or (iii) punitive or treble damages; provided,
however, that the exclusions set forth in clauses (ii) or (iii) above do not apply if and to the extent any such amounts are actually incurred in payment to a third party or government entity. 

Measurement Date: With respect to any Collection Period, the first day of such Collection Period. 

MERS: Mortgage Electronic Registration Systems, Inc., or any successor thereto. 

MI: Insurance provided by private mortgage insurance companies to make payments on certain Mortgage Loans in the event that the
related Mortgagor defaults in its obligation in respect of the Mortgage. 
 Mortgage: Each of those mortgages, deeds of
trust, security deeds or deeds to secure debt creating a first lien on or an interest in real property securing a Mortgage Note and related to a Mortgage Loan. 
 Mortgage Loan: Each of those mortgage loans listed on the Schedule of Mortgage Loans. 
 Mortgage Loan Documents: With respect to each Mortgage Loan, the original Mortgage Loan documents held by a Custodian, including the Mortgage Note, and if applicable, cooperative mortgage loan
related documents and a power of attorney, a New York Consolidation, Extension and Modification Agreement, or other modification document, or as otherwise set forth under the Servicing Agreements and any other documents required to properly service,
through foreclosure, any Mortgaged Property. 
 Mortgage Note: With respect to any Mortgage Loan, the note or other
evidence of indebtedness of the Mortgagor, thereunder, including, if applicable, an allonge and lost note affidavit. 

  
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 Mortgage Servicing Rights: The rights and responsibilities of Seller with respect to
servicing the Mortgage Loans under the Servicing Agreements, including any and all of the following if and to the extent provided therein: (a) all rights to service a Mortgage Loan; (b) all rights to receive servicing fees, additional
servicing compensation (including any late fees, change fees, assumption fees, penalties (other than prepayment penalties) or similar payments with respect to such Mortgage Loan, and income on escrow accounts or other receipts on or with respect to
the Mortgage Loan), reimbursements or indemnification for servicing the Mortgage Loan, and any payments received in respect of the foregoing and proceeds thereof; (c) the right to collect, hold and disburse escrow payments or other payments
with respect to the Mortgage Loan and any amounts actually collected with respect thereto and to receive interest income on such amounts to the extent permitted by Applicable Law; (d) all accounts and other rights to payment related to any of
the property described in this paragraph; (e) possession and use of any and all Credit Files pertaining to the Mortgage Loan or pertaining to the past, present or prospective servicing of the Mortgage Loan; (f) to the extent applicable,
all rights and benefits relating to the direct solicitation of the related Mortgagors for refinance or modification of the Mortgage Loans and attendant right, title and interest in and to the list of such Mortgagors and data relating to their
respective Mortgage Loans; and (g) all rights, powers and privileges incident to any of the foregoing. 
 Mortgage
Servicing Rights Purchase and Sale Agreement: The Mortgage Servicing Rights Purchase and Sale Agreement, dated as of the date hereof, by and between Nationstar Mortgage LLC, as purchaser, and BofA, as seller, as the same may be amended,
supplemented or otherwise modified from time to time. 
 Mortgaged Property: The Mortgagor’s real property, securing
repayment of a related Mortgage Note, consisting of an interest in a single parcel of real property, improved by a residential dwelling. 
 Mortgagor: An obligor under a residential mortgage loan. 

Nationstar-Serviced Mortgage Loans: A Mortgage Loan as to which servicing has been transferred to Seller or its designee.

 Nonqualifying Income: Any amount that is treated as gross income for purposes of Section 856 of the Code and
which is not Qualifying Income. 
 Objection Notice: The meaning given to such term in Section 3.03(c).

 Opinion of Counsel: One or more written opinions, in form and substance reasonably satisfactory to the recipient, of
an attorney at law admitted to practice in any state of the United States or the District of Columbia, which attorney may be counsel for Seller or Purchaser, as the case may be. 

Owner Consent: The FHLMC Acknowledgement Agreement and any other consents, acknowledgements or similar instruments that may be
required from the Agency in connection with the transactions contemplated herein. 
 Party or Parties: As defined
in the preamble hereof. 

  
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 Permitted Liens: Liens in favor of the Agency required pursuant to the applicable
Servicing Agreements and the Pledge Agreement. 
 Person: Any individual, partnership, corporation, limited liability
company, limited liability partnership, business entity, joint stock company, trust, business trust, unincorporated organization, association, enterprise, joint venture, government, any department or agency of any government or any other entity of
whatever nature. 
 Pledge Agreement: A collateral pledge agreement, to be entered into on or before the Closing Date,
between Seller and the Agency, pursuant to which Seller pledges collateral to Agency to secure its obligations to the Agency under the Servicing Agreement, the FHLMC Acknowledgment Agreement and other agreements, if required by the Agency.

 Prepayment Adjustment: The meaning given to such term in Section 3.01(a). 

Priority of Payments: The meaning given to such term in Section 3.04. 

Protected REIT: Any entity that (i) has elected to be taxed as a real estate investment trust pursuant to Section 856 et
seq. of the Code, (ii) owns a direct or indirect equity interest in Purchaser, and (iii) is treated for purposes of Section 856 of the Code as owning all or a portion of the assets of the Purchaser or as receiving all or a portion of
the Purchaser’s income. 
 Purchase Price: The meaning given to such term in Section 3.01(a).

 Purchase Price Percentage: 0.65%. 
 Purchaser: As defined in the preamble hereof. 
 Purchaser Enforcement
Expenses: An amount equal to the Current Excess Servicing Spread Percentage of the reasonable expenses, including legal costs and expenses, incurred in the enforcement of any rights of Seller material to the value of the Total Servicing Spread
under the Mortgage Servicing Rights Purchase and Sale Agreement and related documents, which enforcement has been approved by Purchaser (such approval not to be unreasonably withheld). 

Purchaser Indemnitees: The meaning given to such term in Section 10.01(a). 

Purchaser Repurchase Allocation Amount: An amount equal to the product of (i) the Repurchase Amount multiplied by
(b) Current Excess Servicing Spread Percentage. 
 Qualifying Income: Gross income that is described in
Section 856(c)(2) or 856(c)(3) of the Code. 
 REIT Qualification Ruling: As defined in Section 10.01(b)
hereof. 
 REIT Requirements: The requirements imposed on REITs pursuant to Sections 856 through and including 860 of the
Code. 
 Release Document: As defined in Section 10.02(b) hereof. 

  
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 Related Escrow Accounts: Mortgage Loan escrow/impound accounts maintained by Seller
relating to the Mortgage Servicing Rights, including accounts for buydown funds, real estate taxes and MI, flood and hazard insurance premiums. 
 Remaining Expected Total Servicing Spread: The meaning given to such term in Section 3.03(c). 
 Repurchase Amount: In connection with any BofA-Repurchase Payment, an amount equal to the product (i) the aggregate outstanding principal balance of the Mortgage Loans subject to the
repurchase obligation of BofA associated with such BofA-Repurchase Payment, determined in the manner used to determine such BofA-Repurchase Payment multiplied by (ii) (a) after the Closing Date to the first anniversary of the
Closing Date, the 100% of the Purchase Price Percentage, (b) after the first anniversary date of the Closing Date until the second anniversary date of the Closing Date, 75% of the Purchase Price Percentage, (c) after the second anniversary
of the Closing Date until the third anniversary of the Closing Date, 50% of the Purchase Price Percentage, (d) after the third anniversary of the Closing Date until the fourth anniversary of the Closing Date, 25 % of the Purchase Price
Percentage, and (e) after the fourth anniversary of the Closing Date, 0% of the Purchase Price Percentage. 

Requirement of Law: As to any Person, the certificate of incorporation and by-laws or other organizational or governing documents
of such Person, and any law, treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to which such Person or any of its
property is subject. 
 Retained Servicing Spread: The rights of Seller, severable from each (and all) of the other
rights under the applicable Servicing Agreements, to the Retained Servicing Spread Percentage of the Total Servicing Spread. 

Retained Servicing Spread Percentage: 100% minus the Current Excess Servicing Spread Percentage. 

Sales Proceeds: The proceeds received upon a sale (approved by the Parties) of the Total Servicing Spread, in whole or in part,
including through a sale of Mortgage Servicing Rights in accordance with Section 7.12. 
 Schedule of Mortgage
Loans: The list of Mortgage Loans whose Current Excess Servicing Spread has been assigned to Purchaser pursuant to this Agreement and maintained as Exhibit B hereto. 

Seller: As defined in the preamble hereof. 
 Seller Enforcement Expenses: An amount equal to the Retained Servicing Spread Percentage of the reasonable expenses, including legal costs and expenses, incurred in the enforcement of any rights of
Seller material to the value of the Total Servicing Spread under the Mortgage Servicing Rights Purchase and Sale Agreement and related documents, which enforcement has been approved by Purchaser (such approval not to be unreasonably withheld).

  
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 Seller Indemnitees: The meaning given to such term in Section 10.02.

 Seller Repurchase Allocation Amount: An amount equal to (a) the product of (i) the Repurchase Amount,
multiplied by (ii) the Retained Servicing Spread Percentage, less (b) the excess of the (i) the Repurchase Amount over (ii) the amount of the related BofA-Repurchase Payment. 

Servicing: The responsibilities, with respect to servicing the Mortgage Loans, under the Servicing Agreements. 

Servicing Agreements: The servicing agreements, as amended from time to time, and any waivers, consent letters, acknowledgments
and other agreements relating to the Mortgage Servicing Rights and governing the servicing of the Mortgage Loans, or with respect to Mortgage Loans owned by the Seller, the credit and collection standards, policies, procedures and practices of
Seller relating to residential mortgage loans owned and serviced by Seller. 
 Servicing Spread Collections: For each
Collection Period, the funds collected on the Mortgage Loans and allocated as the servicing compensation payable to Seller as servicer of the Mortgage Loans with respect to such Collection Period pursuant to the applicable Servicing Agreements,
other than Ancillary Income and, for the avoidance of doubt, other than reimbursements received for advances and other out-of-pocket expenditures from the Agency by Seller in accordance with the Servicing Agreements. 

Servicing Transfer Date: The meaning given to such term in the Mortgage Servicing Rights Purchase and Sale Agreement. 

Solvent: With respect to any Person as of any date of determination, (a) the value of the assets of such Person is greater
than the total amount of liabilities (including contingent and unliquidated liabilities) of such Person as determined in accordance with GAAP, (b) such Person is able to pay all liabilities of such Person as such liabilities mature and
(c) such Person does not have unreasonably small capital. In computing the amount of contingent or unliquidated liabilities at any time, such liabilities will be computed at the amount that, in light of all the facts and circumstances existing
at such time, represents the amount that can reasonably be expected to become an actual or matured liability. 
 Third Party
Assignee: The meaning given to such term in Section 11.16. 
 Third Party Assignment: The meaning given
to such term in Section 11.16. 
 Third Party Current Spread Agreement: The meaning given to such term in
Section 11.16. 
 Third Party Claim: The meaning given to such term in Section 10.01 or
Section 10.02, as applicable. 
 Third Party Controlled Current Spread Custodial Account: The account
specified in the Current Spread Custodial Account Control Agreement and maintained by Wells Fargo Bank, National Association or another third party custodian or trustee selected by Purchaser, into which all Servicing Spread Collections, all payments
representing Repurchase Amounts and all Servicing Agreement termination payments in respect of the Mortgage Loans shall be deposited. 

  
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 Total Servicing Spread: For each Collection Period on and after the Closing Date, the
sum of the following: (a) the Servicing Spread Collections received during such Collection Period and remaining after payment of the Base Servicing Fee; (b) all Sales Proceeds received during such Collection Period; (c) all Repurchase
Amounts in connection with BofA-Repurchase Payment amounts received during such Collection Period; and (d) all other amounts payable by the Agency to Seller with respect to the Mortgage Servicing Rights for Mortgage Loans, including any
termination fees paid by the Agency to Seller for terminating Seller as the servicer of any of the Mortgage Loans, but for the avoidance of doubt, excluding all Ancillary Income and reimbursements received for advances and other out-of-pocket
expenditures from the Agency by Seller in accordance with the Servicing Agreements. 
 Transaction Documents: The
Mortgage Servicing Rights Purchase and Sale Agreement (including any bill of sale, assignment agreement or other transfer agreement related to the sale of the Mortgage Servicing Rights thereunder), the Interim Servicing Addendum, the Tri-Party
Agreement, the FHLMC Acknowledgment Agreement, the Current Spread Custodial Account Agreement, the Current Spread Custodial Account Control Agreement, the Current Spread Reserve Account Agreement, the Current Spread Reserve Account Control
Agreement, this Agreement and the Future Spread Agreement for FHLMC Mortgage Loans. 
 Tri-Party Agreement: An
agreement by, between and among BofA, the Agency and Seller (including any amendments thereto) pursuant to which the Agency acknowledges that it will look solely to BofA or certain of its affiliates, and not to Seller, for any claims relating to the
selling representations and warranties on Mortgage Loans and the servicing of such Mortgage Loans prior to the Closing Date.  
 UCC: The Uniform Commercial Code as in effect from time to time in the applicable jurisdiction. 
 Section 1.02 General Interpretive Principles. 
 For purposes of this
Agreement, except as otherwise expressly provided or unless the context otherwise requires: 
 (a) The terms defined in this
Agreement have the meanings assigned to them in this Agreement and include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender; 

(b) Accounting terms not otherwise defined herein have the meanings assigned to them in accordance with generally accepted accounting
principles; 

  
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 (c) References herein to “Articles,” “Sections,”
“Subsections,” “Paragraphs,” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement; 

(d) A reference to a Subsection without further reference to a Section is a reference to such Subsection as contained in the same Section
in which the reference appears, and this rule shall also apply to Paragraphs and other subdivisions; 
 (e) The words
“herein,” “hereof,” “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular provision; and 
 (f) The term “include” or “including” shall mean without limitation by reason of enumeration. 
 ARTICLE II 
 PROCEDURES; ITEMS TO BE DELIVERED 

Section 2.01 Sale of Current Excess Servicing Spread. 
 Subject to, and upon the terms and conditions of this Agreement, Seller will sell, transfer and assign to Purchaser, and Purchaser will acquire from Seller, all of Seller’s right, title and interest
in and to the Current Excess Servicing Spread and all proceeds thereof with respect to the Mortgage Loans. 
 Section 2.02
Grant of Security Interest. 
 In order to secure Seller’s obligations to deliver the Current Excess Servicing
Spread and its obligations hereunder and under the Mortgage Servicing Rights Purchase and Sale Agreement, Seller hereby Grants to Purchaser a valid and continuing first priority and perfected Lien on and security interest in all of Seller’s
right, title and interest in, to and under, the Third Party Controlled Current Spread Custodial Account and the Current Spread Reserve Account, together with all amounts deposited therein from time to time and all cash and non-cash proceeds thereof,
in each case, whether now owned or existing, or hereafter acquired and arising (the “Collateral”). 
 Section
2.03 Items to be Delivered on the Agreement Date. 
 On the Agreement Date, each of Seller and Purchaser shall deliver or
cause to be delivered duly executed copies of the following documents to which they are a party or for which they are otherwise responsible as set forth below: 
 (a) This Agreement and all agreements, certificates, opinions and instruments required to be delivered under this Agreement on the Agreement Date; 

  
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 (b) The Future Spread Agreement for FHLMC Mortgage Loans and all agreements, certificates,
opinions and instruments required to be delivered under the Future Spread Agreement for FHLMC Mortgage Loans on the Agreement Date; and 
 (c) The executed Mortgage Servicing Rights Purchase and Sale Agreement. 

Section 2.04 Items to be Delivered on the Closing Date. 

On the Closing Date, each of Seller and Purchaser shall deliver or cause to be delivered duly executed copies of the following documents
to which they are a party or for which they are otherwise responsible as set forth below: 
 (a) All agreements, certificates,
opinions and instruments required to be delivered under the Mortgage Servicing Rights Purchase and Sale Agreement reasonably related to the transactions contemplated hereunder that are required to be delivered on the Closing Date. 

(b) The executed FHLMC Acknowledgment Agreement; 
 (c) The executed Assignment Agreement; 
 (d) The executed Current Spread
Custodial Account Agreement; 
 (e) The executed Current Spread Custodial Account Control Agreement; 

(f) The executed Current Spread Reserve Account Agreement; 
 (g) The executed Current Spread Reserve Account Control Agreement; 
 (h) An
Opinion of Counsel of Seller, reasonably acceptable to Purchaser, regarding due authorization, authority, and enforceability of the applicable Transaction Documents to which Seller is a party, and regarding no conflicts with other material Seller
agreements; 

  
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 (i) An Opinion of Counsel of Seller, reasonably acceptable to Purchaser, regarding the
characterization of the transfer of the Current Excess Servicing Spread from Seller to Purchaser as a true sale for bankruptcy purposes; 
 (j) An Opinion of Counsel of Seller, reasonably acceptable to Purchaser, regarding the perfection of the security interests granted hereunder; 

(k) A certificate of good standing of Seller dated as of a date within five (5) Business Days prior to the Closing Date to be
delivered by Seller; 
 (l) A secretary’s certificate of Seller attaching its organizational documents, board resolutions
and incumbency certificates, and other evidences of company authority as Purchaser or its counsel may reasonably request, each as required by Section 8.03; 
 (m) An officer’s certificate of Seller that all conditions precedent to the purchase of the Mortgage Servicing Rights under the Mortgage Servicing Rights Purchase and Sale Agreement have been
satisfied; 
 (n) A duly executed company certificate of Seller required by Section 8.07 dated as of the Closing
Date; 
 (o) A duly executed company certificate of Purchaser required by Section 9.05 dated as of the Closing
Date; 
 (p) A secretary’s certificate of Purchaser attaching its organizational documents, board resolutions and
incumbency certificates, and other evidences of company authority as the Seller or its counsel may reasonably request, each as required by Section 9.03; 
 (q) A certificate of good standing of Purchaser, dated as of a date within five (5) Business Days prior to the Closing Date to be delivered by Purchaser; 

(r) A UCC-1 financing statement relating to the security interest of Purchaser in form and substance reasonably acceptable to Purchaser;

 (s) The bill of sale, assignment agreement or any other transfer agreement pursuant to which BofA shall transfer the
Mortgage Servicing Rights to Seller; 

  
 15 

 (t) Any amendments, modifications or restatements of the Mortgage Servicing Rights Purchase
and Sale Agreement; 
 (u) A completed Estimated Base Purchase Price Computation Worksheet as required by Section 3.01(b);

 (v) The executed Tri-Party Agreement; 
 (w) The executed Interim Servicing Addendum; and 
 (x) The executed Pledge
Agreement. 
 Section 2.05 Closing Date Transactions. 

On the Closing Date, subject to the satisfaction of the terms and conditions herein: 

(a) The Parties shall execute and deliver the Assignment Agreement; 

(b) Purchaser shall remit to Seller the portion of the Purchase Price due on the Closing Date, as provided in Section 3.02(a); and

 (c) Ownership of the Current Excess Servicing Spread shall be transferred to Purchaser. 

ARTICLE III 

PAYMENTS AND DISTRIBUTIONS 
 Section 3.01 Purchase Price and Prepayment Adjustments. 
 (a) In full
consideration for the purchase of the Current Excess Servicing Spread and the rights under the Future Spread Agreement for FHLMC Mortgage Loans, and upon the terms and conditions of this Agreement, Purchaser shall pay to Seller an amount (the
“Base Purchase Price”) equal to the product of (x) the aggregate outstanding principal balance of the Mortgage Loans as of the Closing Date, (y) the Purchase Price Percentage and (z) the Current Excess Servicing
Spread Percentage; provided, that in the event of a full prepayment of the principal balance of any Mortgage Loan (other than a 

  
 16 

 
Mortgage Loan prepaid through a refinancing provided by Seller, or in connection with a short sale or acceptance of a deed-in-lieu of foreclosure) within ninety (90) days of the Closing
Date, Seller shall promptly pay Purchaser an amount equal to the product of (i) the amount of the full prepayment of principal balance on such Mortgage Loan, (ii) the Purchase Price Percentage and (iii) the Current Excess Servicing
Spread Percentage (any such payment, a “Prepayment Adjustment”). Seller shall promptly provide support for the calculation of any such Prepayment Adjustment. Any Prepayment Adjustment shall be paid by Seller to Purchaser by wire
transfer of immediately available funds, to an account designated by Seller. The Base Purchase Price shall be allocated by the Parties to reflect the consideration for the purchase of the Current Excess Servicing Spread hereunder (the
“Purchase Price”) and the consideration for the rights acquired by Purchaser under the Future Spread Agreement for FHLMC Mortgage Loans. 
 (b) No later that one (1) Business Day prior to the Closing Date, Seller shall complete and provide to Purchaser, the Estimated Base Purchase Price Computation Worksheet. 

Section 3.02 Payments by Purchaser. 
 Payments shall be made by Purchaser to Seller by wire transfer of immediately available funds, to an account designated by Seller, as follows: 

(a) Purchaser will pay Seller an amount equal to 25% of the Estimated Base Purchase Price on the Closing Date. 

(b) Purchaser will pay Seller an amount equal to 100% of the Base Purchase Price with respect to the Current Excess Servicing Spread
related to the Servicing transferred to Seller on the Servicing Transfer Date, less the portion of such amount paid in accordance to Section 3.02(a), and except as specified in Section 3.02(c), five (5) Business Days
after the Servicing Transfer Date; provided, that the Purchaser’s obligation to make such payment is subject to the full satisfaction of all conditions to the Seller’s payment obligation to BofA under Section 3.02 (b) of
the Mortgage Servicing Rights Purchase and Sale Agreement and receipt by Purchaser from Seller of a written notice thereof. 

(c) Purchaser shall hold back from the amount payable to Seller in accordance with Section 3.02(b) the Holdback Amount. Five
(5) Business Days prior to the release by Seller of any portion of the BofA-Holdback pursuant to the Mortgage Servicing Rights Purchase and Sale Agreement, Seller shall deliver notice to Purchaser of the Mortgage Loans in respect of which the
applicable portion of the BofA-Holdback will be released and the date of such release. On the date the applicable portion of the BofA-Holdback will be released as specified in such notice, Purchaser shall pay to Seller a portion of the unpaid Base
Purchase Price proportional to the portion of the BofA-Holdback that will be released. 
 (d) If, subsequent to the payment of
the Purchase Price or the payment of any amounts due hereunder to either party, the outstanding principal balance of any Mortgage Loan is found to be in error, or if for any reason the Purchase Price or such other amounts is found to be in error,
the party benefiting from the error shall pay an amount sufficient to correct 

  
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and reconcile the Purchase Price or such other amounts and shall provide a reconciliation statement and other such documentation to reasonably satisfy the other party concerning the accuracy of
such reconciliation. Such amounts shall be paid by the proper party within ten (10) Business Days from receipt of satisfactory written verification of amounts due. 
 Section 3.03 Accounts. 
 (a) Lockbox Account. Seller shall inform
the Mortgagors of Mortgage Loans to remit their mortgage payments to the Lockbox Account as of the Servicing Transfer Date. Payments of all Servicing Spread Collections (net of any amounts withheld by BofA, pursuant to and in accordance with the
Interim Servicing Addendum) received on and after the Closing Date shall be transferred from the Lockbox Account to the Third Party Controlled Current Spread Custodial Account within one (1) Business Day of receipt and identification thereof
and in any event, within two (2) Business Days of receipt thereof. 
 (b) Third Party Controlled Current Spread
Custodial Account. 
 (i) The Third Party Controlled Current Spread Custodial Account will be established
with Wells Fargo Bank, National Association or with such other third party custodian or trustee selected by Purchaser, for the sole purpose of receiving and disbursing all Servicing Spread Collections (net of any amounts withheld by BofA pursuant to
and in accordance with the Interim Servicing Addendum), Servicing Agreement termination payments with respect to the Mortgage Loans, Sales Proceeds, and BofA-Repurchase Payments. The Third Party Controlled Current Spread Custodial Account will be
established pursuant to the Current Spread Custodial Account Control Agreement with respect to which Purchaser is an Entitlement Holder with Control. So long as permitted by the Current Spread Custodial Account Control Agreement, Seller may direct
the disposition of funds in the Third Party Controlled Current Spread Custodial Account strictly in accordance with the Priority of Payments. Upon any material breach of a representation, warranty or covenant by Seller hereunder, Purchaser may elect
to exercise Control over the Third Party Controlled Current Spread Custodial Account. Seller agrees to take all actions reasonably necessary, including the filing of appropriate financing statements, to protect Purchaser’s interest in the Third
Party Controlled Current Spread Custodial Account. 
 (ii) Seller shall inform the Agency to remit the
applicable portion of any Servicing Agreement termination payments payable on or after the Closing Date directly to the Third Party Controlled Current Spread Custodial Account. Any termination payment to be directed to the Third Party Controlled
Current Spread Custodial Account shall be equal to the pro rata amount by which the Mortgage Loans affected by such termination bear to all mortgage loans of Seller affected by such termination, based upon the method in which such
termination payments are calculated in accordance with the applicable Servicing Agreement. 

  
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 (iii) If, pursuant to Section 10.03 of the Mortgage Servicing Rights
Purchase and Sale Agreement, BofA is required to remit any BofA-Repurchase Payment to Seller, Seller shall direct BofA to deposit such BofA-Repurchase Payment into the Third Party Controlled Current Spread Custodial Account, and if Seller or any of
its affiliates receives a BofA-Repurchase Payment for its own account or otherwise, Seller shall within one (1) Business Day remit the full amount of such BofA-Repurchase Payment to the Third Party Controlled Current Spread Account; 

(iv) Seller shall direct each payer of Sales Proceeds to remit such payments directly to the Third Party Controlled
Current Spread Custodial Account. 
 (v) If Seller receives any amounts required to be deposited into the Third
Party Controlled Current Spread Custodial Account in error, Seller shall promptly remit such funds to the Third Party Controlled Current Spread Custodial Account. 
 (c) Current Spread Reserve Account. The Current Spread Reserve Account will be established with Wells Fargo Bank, National Association or with such other third party custodian or trustee selected
by Purchaser. The Current Spread Reserve Account will be established pursuant to the Current Spread Reserve Account Control Agreement with respect to which Purchaser is an Entitlement Holder with Control. So long as permitted by the Current Spread
Reserve Account Control Agreement, Seller may direct the disposition of funds in the Current Spread Reserve Account strictly in accordance with Section 3.05. Seller agrees to take all actions reasonably necessary, including the filing of
appropriate financing statements, to protect Purchaser’s interest in the Current Spread Reserve Account. 
 If at any time
Seller’s Consolidated Tangible Net Worth falls below the sum of (x) $250,000,000 and (y) 50% of the proceeds from any issuance of equity on or after the Agreement Date by Seller, Nationstar Mortgage Holdings Inc. or any of
Seller’s consolidated subsidiaries, or if Seller (considered together with its consolidated subsidiaries) defaults in any indebtedness in excess of $10,000,000 (individually or in the aggregate) (each, a “Current Spread Reserve Account
Deposit Event”), Seller shall immediately notify Purchaser in writing that a Current Spread Reserve Account Deposit Event has occurred. On each Distribution Date upon which a Current Spread Reserve Account Deposit Event has occurred and is
continuing, Seller shall be required to transfer funds in the Third Party Controlled Current Spread Custodial Account to the Current Spread Reserve Account in accordance with the Priority of Payments until the amount of funds in the Current Spread
Reserve Account is equal to the Current Spread Reserve Account Required Amount. The “Current Spread Reserve Account Required Amount” is equal to 25% of the fair market value as of the date the Current Spread Reserve Account Deposit
Event 

  
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that is then-continuing first occurred of the Total Servicing Spread expected to be paid over the expected remaining life of the Mortgage Loans (the “Remaining Expected Total Servicing
Spread”) determined in accordance with the following paragraph. Seller shall immediately notify Purchaser in writing if a Current Spread Reserve Account Deposit Event is no longer continuing. Any funds in the Current Spread Reserve Account
in excess of the Current Spread Reserve Account Required Amount shall be released to Seller. 
 For purposes of determining the
fair market value of the Remaining Expected Total Servicing Spread, Purchaser shall submit its claim for determination of the fair market value of the Remaining Expected Total Servicing Spread, together with such back-up information it deems
appropriate to justify such fair market value (which value shall be considered the fair market value of the Remaining Expected Total Servicing Spread for purposes of calculating the Current Spread Reserve Account Required Amount until the final
determination of such fair market value in accordance with this paragraph). Within five (5) Business Days of Seller’s receipt of such determination, Seller shall notify Purchaser in writing of its acceptance or any objection to such
determination of such fair market value, and if Seller objects to such determination, together with its own determination of such fair market value and any back-up information as it deems appropriate to justify such fair market value (an
“Objection Notice”). In the event an Objection Notice is delivered, the parties shall negotiate in good faith a resolution to such objection. In the event that Seller and Purchaser are unable to resolve such objection within five
(5) Business Days of the delivery of such Objection Notice, Seller and Purchaser shall appoint a mutually acceptable nationally recognized valuation expert to determine such fair market value of the Remaining Expected Total Servicing Spread.
The determination of such valuation expert shall be binding on Seller and Purchaser and the fees of such valuation expert shall be borne by Seller. 
 Section 3.04 Priority of Payments. 
 On each Business Day, subject to the
terms and conditions of the Current Spread Custodial Account Control Agreement, Seller (or, after the delivery of an access termination notice pursuant to the Current Spread Custodial Account Control Agreement, Purchaser) will direct the Bank to
apply the monies in the Third Party Controlled Current Spread Custodial Account in the following order of priority (the “Priority of Payments”), in every case, after giving effect to each prior item in the Priority of Payments on
such Business Day: 
 (a) first, from amounts in the Third Party Controlled Current Spread Custodial Account
attributable to Servicing Agreement termination payments made by the Agency with respect to any Mortgage Loans, pro rata, (A) the Current Excess Servicing Spread Percentage of such termination payments to Purchaser, and
(B) the Retained Servicing Spread Percentage of such termination payments to Seller; provided, that (I) prior to the distribution to Purchaser of any termination payments pursuant to clause (A), such termination payments shall be applied
first, to the payment to Seller of any Purchaser Enforcement Expenses then due and payable and then, to the payment of any indemnity payments then due and payable to a Seller Indemnitee pursuant to Section 10.02, and (II) prior to the
distribution to Seller of any termination payments pursuant to clause (B), such termination payments shall be applied first, to 

  
 20 

 
the payment of any Seller Enforcement Expenses then due and payable, second, to the payment of any indemnity payments then due and payable to a Purchaser Indemnitee pursuant to
Section 10.01 and third, for deposit to the Current Spread Reserve Account to the extent necessary to cause the amount of funds on deposit in the Current Spread Reserve Account to equal the Current Spread Reserve Account Required Amount;

 (b) second, from amounts in the Third Party Controlled Current Spread Custodial Account attributable to a
BofA-Repurchase Payment, (A) the Purchaser Repurchase Allocation Amount to Purchaser and (B) Seller Repurchase Allocation Amount to Seller; 
 (c) third, on any Business Day from and including the first Business Day of a calendar month to but excluding the Distribution Date in such calendar month, at the option of Seller, the Base
Servicing Fee payable with respect to a prior Collection Period for Nationstar-Serviced Mortgage Loans to Seller; 
 (d)
fourth, on each Distribution Date, to the extent not previously paid to Seller in accordance with Section 3.04(c), any accrued and unpaid Base Servicing Fee payable in connection with Nationstar-Serviced Mortgage Loans to Seller;

 (e) fifth, on each Distribution Date, pro rata, (A) to Purchaser, any Current Excess Servicing Spread for
the prior Collection Period (other than the portion thereof consisting of termination payments made pursuant to Section 3.04(a) and the portion thereof consisting of payments made pursuant to Section 3.04(b)); and (B) to
Seller, any Retained Servicing Spread for the prior Collection Period (other than the portion thereof consisting of termination payments made pursuant to Section 3.04(a) and the portion thereof consisting of payments made pursuant to
Section 3.04(b)); provided, that (I) prior to the distribution to Purchaser of any Current Excess Servicing Spread pursuant to clause (A), the Current Excess Servicing Spread shall be applied first, to the
payment to Seller of any Purchaser Enforcement Expenses then due and payable and then, to the payment of any indemnity payments then due and payable to a Seller Indemnitee pursuant to Section 10.02, and (II) prior to the
distribution to Seller of any Retained Servicing Spread pursuant to clause (B), the Retained Servicing Spread shall be applied first, to the payment of any Seller Enforcement Expenses then due and payable, second, to the
payment of any indemnity payments then due and payable to a Purchaser Indemnitee pursuant to Section 10.01 and third, for deposit to the Current Spread Reserve Account to the extent necessary to cause the amount of funds on
deposit in the Current Spread Reserve Account to equal the Current Spread Reserve Account Required Amount; and 

  
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 (f) sixth, on each Distribution Date, to Seller, any other amounts remaining on
deposit in the Third Party Controlled Current Spread Custodial Account. 
 All payments to Purchaser or Seller shall be made by
wire transfer of immediately available funds to an account designated by Purchaser or Seller, as applicable. 
 Section 3.05
Withdrawals from the Current Spread Reserve Account. 
 On any Business Day, at the instruction of Purchaser, Seller
shall direct the Bank to apply funds in the Current Spread Reserve Account, if any, to the payment of indemnity payments payable to a Purchaser Indemnitee pursuant to Section 10.01. If on any Business Day a Current Spread Reserve Account
Deposit Event is not then continuing and all outstanding indemnity payments payable to Purchaser Indemnitees have been paid in full, Seller may direct the Bank to distribute any remaining funds in the Current Spread Reserve Account to, or as
directed by, Seller. If there are any funds remaining in the Current Spread Reserve Account after the Current Excess Servicing Spread and all indemnity payments payable to Purchaser Indemnitees have been paid in full, Seller shall direct the Bank to
distribute such remaining funds to, or as directed by, Seller. 
 Section 3.06 Payment to Seller of Base Servicing Fee.

 Seller shall be entitled to payment of the Base Servicing Fee only to the extent funds are available therefor in the Third
Party Controlled Current Spread Custodial Account in accordance with the Priority of Payments. Under no circumstances shall Purchaser be liable to Seller for payment of the Base Servicing Fee. In the event servicing of the Mortgage Loans is
transferred to sub-servicers for any reason, the servicing fees and expenses of such sub-servicers shall be paid by Seller and in no event will the amount of Servicing Spread Collections or termination payments otherwise allocable to the Current
Excess Servicing Spread be reduced due to the payment of sub-servicing fees and expenses. 
 Section 3.07 Intent and
Characterization. 
 (a) Seller and Purchaser intend that the sale of the Current Excess Servicing Spread pursuant to this
Agreement constitutes a valid sale of such Current Excess Servicing Spread from Seller to Purchaser, conveying good title thereto free and clear of any Lien other than Permitted Liens, and that the beneficial interest in and title to the Current
Excess Servicing Spread not be part of Seller’s estate in the event of the bankruptcy of Seller. Seller and Purchaser intend and agree to treat the transfer and assignment of the Current Excess Servicing Spread as an absolute sale for tax
purposes, and as an absolute and complete conveyance of title for property law purposes. Except for financial accounting purposes, neither party intends the transactions contemplated hereby to be characterized as a loan from Purchaser to Seller.

  
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 (b) In the event (but only in the event) that the conveyance of the Current Excess
Servicing Spread is characterized by a court or governmental authority as security for a loan rather than a sale, Seller will be deemed to have granted to Purchaser, and Seller hereby grants to Purchaser, a security interest in all of its right,
title and interest in, to and under the Current Excess Servicing Spread and all proceeds thereof as security for a loan in an amount equal to the Purchase Price. 
 ARTICLE IV 
 REPRESENTATIONS AND WARRANTIES OF SELLER

 As an inducement to Purchaser to enter into this Agreement, Seller represents and warrants to Purchaser as of the
Agreement Date and the Closing Date (or as of the date specified below, as applicable): 
 Section 4.01 Due Organization and
Good Standing. 
 Seller is a limited liability company duly organized, validly existing and in good standing under the laws
of the State of Delaware. Seller is qualified to transact business in each jurisdiction in which such qualification is deemed necessary to service the Mortgage Loans. Seller has, in full force and effect (without notice of possible suspension,
revocation or impairment), all required permits, approvals, licenses, and registrations to conduct all activities in all states in which its activities with respect to the Mortgage Loans or the Mortgage Servicing Rights require it to be licensed,
registered or approved in order to service the Mortgage Loans and own the Mortgage Servicing Rights, unless the failure to obtain such permits, approvals, licenses and registrations would not reasonably be expected to have a material adverse effect
on Seller’s ability to perform its obligations under this Agreement or the other Transaction Documents to which it is a party. 
 Section 4.02 Authority and Capacity. 
 Seller has all requisite limited
liability company power, authority and capacity, subject to the approvals required pursuant to Section 4.03, to enter into this Agreement and each other Transaction Document to which it is a party and to perform the obligations required
of it hereunder and thereunder. The execution and delivery of this Agreement and each other Transaction Document to which Seller is a party and the consummation of the transactions contemplated hereby and thereby have each been duly and validly
authorized by all necessary limited liability company action. This Agreement and each other Transaction Document to which it is a party has been duly executed and delivered by Seller. This Agreement constitutes, and each other applicable Transaction
Document to which Seller is a party constitutes or will constitute, a valid and legally binding agreement of Seller enforceable in accordance with its terms, and no offset, counterclaim or defense exists to the full performance by Seller of this
Agreement or such other Transaction Document, except as the same may be limited by bankruptcy, insolvency, reorganization and similar laws affecting the enforcement of creditors’ rights generally and by general equity principles. 

  
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 Section 4.03 Agency Consents. 

Seller will have obtained the FHMLC Acknowledgment Agreement and all other necessary approvals, agreements and consents, if any, of the
Agency with respect to the Transaction Documents on or prior to the Closing Date. 
 Section 4.04 Title to the Mortgage
Servicing Rights. 
 As of the Closing Date, Seller will be the lawful owner of the Mortgage Servicing Rights, will be
responsible for the maintenance of the Related Escrow Accounts, and will have the sole right and authority to transfer the Current Excess Servicing Spread as contemplated hereby. The transfer, assignment and delivery of the Current Excess Servicing
Spread shall be free and clear of any and all claims, charges, defenses, offsets, Liens and encumbrances of any kind or nature whatsoever other than Permitted Liens. 
 Section 4.05 Effective Agreements. 
 The execution, delivery and
performance of this Agreement and each other Transaction Document that has been executed by Seller, compliance with the terms hereof and thereof and the consummation of the transactions contemplated hereby and thereby did not, and will not, violate,
conflict with, result in a breach of, constitute a default under, be prohibited by or require any additional approval under its certificate of formation or limited liability company agreement, any instrument or agreement to which it is a party or by
which it is bound or which affects the Current Excess Servicing Spread, or any state or federal law, rule or regulation or any judicial or administrative decree, order, ruling or regulation applicable to it or to the Current Excess Servicing Spread.

 Section 4.06 No Accrued Liabilities. 
 There are no accrued liabilities of Seller with respect to the Mortgage Loans or the Mortgage Servicing Rights or circumstances under which such accrued liabilities will arise against Purchaser as
purchaser of the Current Excess Servicing Spread. 
 Section 4.07 Seller/Servicer Standing. 

Seller is approved by the Agency as a seller/servicer in good standing with the requisite financial criteria and adequate resources to
complete the transactions contemplated hereby on the conditions stated herein. No event has occurred, including, but not limited to, a change in insurance coverage, which would make Seller unable to comply with the Agency eligibility requirements or
which would require notification to the Agency. Furthermore, if at any time prior to the termination of this Agreement, the Seller is unable to comply with any of the Agency eligibility requirements, it shall immediately notify the Purchaser that it
is no longer an approved seller/servicer of mortgage loans for the Agency. 

  
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 Section 4.08 MERS Membership. 

Seller is a member in good standing under the MERS system. 
 Section 4.09 Agency Set-off Rights. 
 Seller has no actual notice,
including any notice received from the Agency, or any reason to believe, that, other than in the normal course of Seller’s business, any circumstances exist that would result in Seller being liable to the Agency for any amount due by reason of:
(i) any breach of servicing obligations or breach of mortgage selling warranty to the Agency under servicing agreements relating to Seller’s entire servicing portfolio for the Agency (including any unmet mortgage repurchase obligation),
(ii) any unperformed obligation with respect to mortgage loans that Seller is servicing for the Agency under the regular servicing option or other mortgages subject to recourse agreements, (iii) any loss or damage to the Agency by reason
of any inability to transfer to a purchaser of the servicing rights Seller’s selling and servicing representations, warranties and obligations, or (iv) any other unmet obligations to the Agency under a servicing contract relating to
Seller’s entire servicing portfolio with the Agency. 
 Section 4.10 Ability to Perform; Solvency. 

Seller does not believe, nor does it have any reason or cause to believe, that it cannot perform each and every covenant contained in
this Agreement. Seller is Solvent and the sale of the Current Excess Servicing Spread will not cause Seller to become insolvent. The sale of the Current Excess Servicing Spread is not undertaken to hinder, delay or defraud any of the creditors of
Seller. The consideration received by Seller upon the sale of the Current Excess Servicing Spread constitutes fair consideration and reasonably equivalent value therefor. 
 Section 4.11 Material Documents. 
 Seller has provided Purchaser with
executed copies of all material agreements and documents, and any amendments thereto, relating to Seller’s acquisition of the Mortgage Servicing Rights and the servicing of the Mortgage Loans. 

Section 4.12 Obligations with Respect to Origination. 
 Seller shall remain liable for all obligations with respect to the origination of each Mortgage Loan and, if applicable, for all obligations with respect to the sale of such Mortgage Loan to the Agency.

 Section 4.13 No Actions 
 There have not been commenced or, to the best of Seller’s knowledge, threatened, any action, suit or proceeding which will likely materially and adversely affect the consummation of the transactions
contemplated by any Transaction Document. 

  
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 ARTICLE V 
 REPRESENTATIONS AND WARRANTIES AS TO MORTGAGE 
 LOANS AND
SERVICING 
 As further inducement to Purchaser to enter into this Agreement, Seller represents and warrants to
Purchaser as of the Agreement Date and the Closing Date (or as of the date specified below, as applicable): 
 Section 5.01
Servicing Agreements; Applicable Laws. 
 The originator of the Mortgage Loan and each prior owner of the Mortgage
Servicing Rights has each performed its obligations in all material respects in accordance with the terms of the related Mortgage Note, Mortgage, Servicing Agreements and Applicable Law. 

Section 5.02 Related Escrow Accounts. 
 All Related Escrow Accounts are being, and have been, maintained in accordance with Applicable Law and in accordance with the Servicing Agreements and the terms of the related Mortgages and other Mortgage
Loan documents; and, except as to payments which are past due under Mortgage Notes, all balances required by the Mortgages or other Mortgage Loan Documents to be paid to Seller for the account of the Mortgagors are on deposit in the appropriate
Related Escrow Account. 
 Section 5.03 Accuracy of Servicing Information. 

The information in the Data Tape dated as of May 31, 2012 is true and correct in all material respects as of the date specified.

 Section 5.04 No Purchaser Responsibility. 
 Purchaser shall have no responsibility, liability or other obligation whatsoever under any Servicing Agreement or with respect to any Mortgage Loan, or to make any advance thereunder, or to pay any
servicing fees. Notwithstanding the sale of the Mortgage Servicing Rights for a Mortgage Loan by BofA to Seller, based on and subject to the terms of the Tri-Party Agreement, BofA retains any remaining obligations to the Agency under the Servicing
Agreements with Agency for Mortgage Loans, including repurchase, indemnification and make-whole obligations, in respect of a breach of the selling representations and warranties in connection with the sale of Mortgage Loans to Agency, or the failure
of BofA or prior servicers to comply with the servicing obligations with respect to Mortgage Loans prior to the date on which Seller assumes responsibility for Servicing a Mortgage Loan. 

  
 26 

 Section 5.05 Location of Credit Files. 

All of the Mortgage Loan Documents are or upon delivery by BofA will be held by either Custodians or Seller, as the case may be, in the
locations specified in Exhibit E, unless temporarily removed for enforcement purposes in the normal course of servicing. Seller will notify Purchaser in writing of any changes in locations of the Mortgage Loan Documents in Exhibit
E.
 Section 5.06 Representations Concerning the Current Excess Servicing Spread. 

(a) Seller has not assigned, pledged, conveyed, or encumbered the Current Excess Servicing Spread to any other Person (other than
Permitted Liens) and immediately prior to the sale of the Current Excess Servicing Spread on the Closing Date, Seller was the sole owner of the Current Excess Servicing Spread and had good and marketable title thereto (subject to the rights of the
Agency under the Servicing Agreements, the Pledge Agreement and the Tri-Party Agreement (if any), free and clear of all Liens (other than Permitted Liens), and no Person, other than Purchaser, has any Lien (other than Permitted Liens) on the Current
Excess Servicing Spread. No security agreement, financing statement, equivalent security or lien instrument or continuation statement covering all or any part of the Current Excess Servicing Spread which has been signed by Seller or which Seller has
authorized any other Person to sign or file or record, is on file or of record with any public office, except such as may have been terminated or filed by or on behalf of Purchaser. 

(b) The sale and grant of a security interest by Seller to Purchaser of and on the Current Excess Servicing Spread does not and will not
violate any Requirement of Law, the effect of which violation is to render void or voidable such assignment. 
 (c) As
contemplated under Section 3.07(b), upon the filing of financing statements on Form UCC-1 naming Purchaser as “Secured Party” and Seller as “Debtor”, and describing the Current Excess Servicing Spread, in the
jurisdictions and recording offices listed on Exhibit I attached hereto, the security interests granted hereunder in the Current Excess Servicing Spread will constitute perfected first priority security interests under the UCC in all right,
title and interest of Purchaser in, to and under the Current Excess Servicing Spread. 
 (d) Purchaser has and will continue to
have the full right, power and authority to pledge the Current Excess Servicing Spread, and the Current Excess Servicing Spread may be further assigned without any requirement, in each case, subject only to the Agency’s consent. 

(e) Each Servicing Agreement constitutes an Eligible Servicing Agreement. 

  
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 ARTICLE VI 
 REPRESENTATIONS AND WARRANTIES OF PURCHASER 
 As an inducement to
Seller to enter into this Agreement, Purchaser represents and warrants to Seller as of the Agreement Date and the Closing Date (or as of the date specified below, as applicable): 

Section 6.01 Due Organization and Good Standing. 
 Purchaser is a limited liability company duly organized, validly existing and in good standing under the laws of the State of Delaware. Purchaser is qualified to transact business in each jurisdiction in
which such qualification is deemed necessary. 
 Section 6.02 Authority and Capacity. 

Purchaser has all requisite limited liability company power, authority and capacity to enter into this Agreement and each other
Transaction Document to which it is a party and to perform the obligations required of it hereunder and thereunder. The execution and delivery of this Agreement and each other Transaction Document to which it is a party and the consummation of the
transactions contemplated hereby and thereby have each been duly and validly authorized by all necessary limited liability company action. This Agreement and each other Transaction Document to which it is a party has been duly executed and delivered
by Purchaser. This Agreement constitutes, and each other applicable Transaction Document to which Purchaser is a party constitutes or will constitute, a valid and legally binding agreement of Purchaser enforceable in accordance with its terms, and
no offset, counterclaim or defense exists to the full performance by Purchaser of this Agreement or such other Transaction Document, except as the same may be limited by bankruptcy, insolvency, reorganization and similar laws affecting the
enforcement of creditors’ rights generally and by general equity principles. 
 Section 6.03 Effective Agreements.

 The execution, delivery and performance of this Agreement and each other Transaction Document to which it is a party by
Purchaser, its compliance with the terms hereof and thereof and the consummation of the transactions contemplated hereby and thereby will not violate, conflict with, result in a breach of, constitute a default under, be prohibited by or require any
additional approval under its certificate of formation or limited liability company agreement, any instrument or agreement to which it is a party or by which it is bound, or any state or federal law, rule or regulation or any judicial or
administrative decree, order, ruling or regulation applicable to it, in each case which violation, conflict, breach or requirement would reasonably be expected to have a material adverse effect on Purchaser’s ability to perform its obligations
under this Agreement and any other Transaction Document to which it is a party. 

  
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 Section 6.04 Sophisticated Investor. 

Purchaser is a sophisticated investor and its decision to acquire the Current Excess Servicing Spread is based upon Purchaser’s own
independent experience, knowledge and evaluation of this transaction. Purchaser has relied solely on such experience, knowledge and evaluation and has not relied on any oral or written information provided by Seller other than the representations
and warranties made by Seller herein. 
 Section 6.05 No Actions 

There shall not have been commenced or, to the best of Purchaser’s knowledge, threatened any action, suit or proceeding against the
Purchaser that will likely materially and adversely affect the consummation of the transactions contemplated hereby. 

ARTICLE VII 
 SELLER COVENANTS 
 Seller covenants and agrees as follows:

 Section 7.01 Servicing Obligations. 
 (a) Seller shall (or, with respect to BofA-Serviced Mortgage Loans, shall ensure that BofA will) pay, perform and discharge all liabilities and obligations relating to the Servicing, including all
liabilities and obligations under the Mortgage Loan Documents, Applicable Law and the Servicing Agreements; and Seller shall (or, with respect to BofA-Serviced Mortgage Loans, shall ensure that BofA will) pay, perform and discharge all the rights,
obligations and duties with respect to the Related Escrow Accounts as required by the Agency, the Servicing Agreements, the Mortgage Loan Documents and all Applicable Law. 
 (b) Under no circumstances shall Purchaser be responsible for the Servicing acts and omissions of Seller or any other servicer or any originator of the Mortgage Loans, or for any servicing related
obligations or liabilities of any servicer in the Servicing Agreements or of any Person under the Mortgage Loan Documents, or for any other obligations or liabilities of Seller. 

(c) Upon termination of any Servicing Agreement, Seller shall remain liable to Purchaser and the Agency for all liabilities and
obligations incurred by the servicer or its designee while Seller or its designee was acting as the servicer thereunder. 

Section 7.02 Cooperation. 
 Seller shall cooperate with and assist Purchaser, as reasonably requested, in carrying out the purposes of this Agreement. Seller will cooperate and assist Purchaser, as reasonably

  
 29 

 
requested and at the reasonable expense of Purchaser (except as provided in Section 11.01(b)), in obtaining consents from the Agency as may be required or advisable to assign,
transfer, deliver, hypothecate, pledge, subdivide, finance or otherwise deal with the Current Excess Servicing Spread. If Seller is terminated under any Servicing Agreement, Seller shall cooperate fully and at its own expense in transferring such
Servicing. If Purchaser assigns its Current Excess Servicing Spread or its other rights under this Agreement to a Third Party Assignee, Seller will cooperate and assist any Third Party Assignee in drafting and entering into a Third Party Current
Spread Agreement in accordance with Section 11.16. 
 Section 7.03 Financing Statements. 

Seller hereby authorizes the filing of any financing statements or continuation statements, and amendments to financing statements, in
any jurisdictions and with any filing offices as Purchaser may determine, in its sole discretion, are necessary or advisable to perfect the sale of the Current Excess Servicing Spread and the security interests granted to Purchaser in connection
herewith. Seller agrees to execute financing statements in form reasonably acceptable to Purchaser and Seller at the request of Purchaser in order to reflect Purchaser’s interest in the Current Excess Servicing Spread, the Third Party
Controlled Current Spread Custodial Account and the Current Spread Reserve Account. 
 Section 7.04 Supplemental
Information. 
 From time to time prior to and after the Closing Date, Seller promptly shall furnish Purchaser such
incidental information, which is reasonably available to Seller, supplemental to the information contained in the documents and schedules delivered pursuant to this Agreement, as may reasonably be requested to monitor performance of the Mortgage
Loans and the payment of the Current Excess Servicing Spread. 
 Section 7.05 Access to Information. 

From time to time, at such times as are reasonably convenient to Seller, Purchaser or its designees may conduct audits or visit and
inspect any of the Mortgage Loans or places where the Credit Files or servicing operations are located, to examine the Credit Files, internal controls and procedures maintained by Seller and its agents, and take copies and extracts therefrom, and to
discuss Seller’s affairs with its officers, employees and, upon notice to Seller, independent accountants. Seller hereby authorizes such officers, employees and independent accountants to discuss with Purchaser the affairs of Seller. Any audit
provided for herein will be conducted in accordance with Seller’s rules respecting safety and security on its premises, in accordance with applicable privacy and confidentiality laws and without materially disrupting operations. 

Section 7.06 Home Affordable Modification Program. 
 With respect to any Mortgage Loans that have been modified or that are or will be in a modification trial period as part of the U.S. Department of the Treasury’s Home Affordable

  
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Modification Program (“HAMP”) (such Mortgage Loans, the “HAMP Loans”), Seller represents and warrants that it will continue to service such HAMP Loan in
accordance with the HAMP terms, and shall ensure the timely compliance and filing of any appropriate HAMP documentation with the applicable regulator. 
 Section 7.07 Distribution Date Data Tapes and Reports. 
 Seller shall
deliver the following to Purchaser two (2) Business Days prior to each Distribution Date: 
 (a) An Electronic Data File
in form and substance acceptable to Purchaser containing, for each Mortgage Loan, principal, interest and Servicing Spread Collections, and delinquency status (i.e. 30, 60, 90, FCL, REO) as of the last day of the prior Collection Period; 

(b) A Summary Activity Report with respect to the Mortgage Loans with respect to the prior Collection Period containing: 

(i) aggregate beginning principal balance as of the first and last date of the Collection Period, 

(ii) aggregate regular principal collected, 

(iii) aggregate noncash principal, 

(iv) aggregate interest collected, 

(v) aggregate liquidation principal, 

(vi) aggregate curtailments, 
 (vii) liquidations, 
 (viii) short sales, 

(ix)(1) for each Mortgage Loan, the principal balance, the applicable servicing spread, the final maturity date, the
mortgage interest rate, the loan-to-value ratio and the FICO score, and (2) for each Mortgage Loan that was 

  
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refinanced by a lender other than Seller or an affiliate thereof, to the extent such information is known to Seller in the ordinary course of business and the collection and delivery of such
information does not impose any additional and undue burden on Seller, the name of such lender and the mortgage interest rate of the newly originated residential mortgage loan; 

(c) A Delinquency Report with respect to the Mortgage Loans containing: 

(i) The aggregate outstanding principal balance of the Mortgage Loans and percentages of the aggregate outstanding
principal balance of the Mortgage Loans in each of the following categories as of the last day of the prior Collection Period: 
 (1) non-delinquent Mortgage Loans, 
 (2) 0-29 days delinquent,

 (3) 30-59 days delinquent, 

(4) 60-89 days delinquent, 
 (5) 90 days or more delinquent, 
 (6) Mortgage Loans in
foreclosure, 
 (7) Mortgage Loans with respect to which the related Mortgaged Properties have become real
estate owned properties, and 
 (8) Mortgage Loans in which the Mortgagor is in bankruptcy; 

(ii) For each of the above categories, a roll report showing the migration of Mortgage Loans in such category from the
last day of the second prior Collection Period; 
 (d) A Disbursement Report for such Distribution Date containing: 

(i) The Servicing Spread Collections for the prior Collection Period, 

  
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 (ii) The Base Servicing Fee paid to Seller, 

(iii) The amount of the Current Excess Servicing Spread paid to Purchaser, 

(iv) The amount of funds, if any, transferred to the Current Spread Reserve Account, 

(v) The amount paid to Purchaser Indemnitees pursuant to Section 11.01(a), if any, paid from each of the
Third Party Controlled Current Spread Custodial Account or the Current Spread Reserve Account, and 
 (vi) The
amount of funds paid to Seller from the Current Spread Reserve Account. 
 Section 7.08 Financial Statements and
Officer’s Certificates. 
 (a) If Seller’s financial statements are not filed with the U.S. Securities and
Exchange Commission and are not publicly available, Seller shall deliver to Purchaser copies of Seller’s most recent audited quarterly financial statements within 45 days of the end of each of Seller’s fiscal quarters and its most recent
audited annual financial statements within 90 days of the end of each of Seller’s fiscal years. 
 (b) Within 45 days of
the end of each of Seller’s fiscal quarters, Seller shall deliver to Purchaser a certificate from a duly authorized officer of Seller certifying (i) whether or not Seller has a Consolidated Tangible Net Worth of at least the sum of
(x) $250,000,000 and (y) 50% of the proceeds from any issuance of equity on or after the Agreement Date by Seller, Nationstar Mortgage Holdings Inc. or any of Seller’s consolidated subsidiaries (and shall provide a calculation of its
determination of its Consolidated Tangible Net Worth) and (ii) whether or not Seller (considered together with its consolidated subsidiaries) is in default in any indebtedness in excess of $10,000,000 (individually or in the aggregate).

 Section 7.09 Monthly Management Calls. 
 Within five (5) Business Days after each Distribution Date, Seller shall make its management team and other appropriate officers and employees available to Purchaser to discuss by telephone the
performance of the Mortgage Loans and the performance of the parties under the Transaction Documents. 

  
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 Section 7.10 Timely Payment of Agency Obligations. 

Seller shall pay all of its obligations to the Agency in a timely manner so as to avoid exercise of any right of set-off by the Agency
against Seller. 
 Section 7.11 Servicing Agreements. 

Seller will service the Mortgage Loans in accordance with Accepted Servicing Practices and will perform its obligations in all material
respects in accordance with the Servicing Agreements and Applicable Law. In particular, without limitation, Seller shall comply with any advancing obligation under the Servicing Agreements. Without the express written consent of Purchaser (which
consent may be withheld in its absolute discretion), Seller shall not (a) terminate or amend any Mortgage Servicing Rights, (b) expressly provide any required consent to any termination, amendment or modification of any Servicing
Agreements either verbally or in writing, or (c) expressly provide any required consent to any termination, amendment or modification of any other servicing agreements or enter into any other agreement or arrangement with the Agency that may be
reasonably material to Purchaser either verbally or in writing. Seller shall conduct its business and perform its obligations under the Servicing Agreements and under the Pledge Agreement (if any) in a manner such that the Agency will not have cause
to terminate any Servicing Agreement. Notwithstanding the foregoing, in no event will the prohibitions contained in this Section 7.11 apply to any amendments or modifications of the Servicing Agreements applicable to Mortgage Loans owned
by the Seller which do not affect the Current Excess Servicing Spread with respect to such Mortgage Loans and are not reasonably material to the Purchaser. 
 Section 7.12 Transfer of Mortgage Servicing Rights. 
 If Seller intends to
assign, transfer or sell any of its Mortgage Servicing Rights to a replacement servicer, to the extent permitted by applicable law, (a) Seller shall consult with Purchaser and Purchaser shall participate in the assignment, transfer and sale of
such Mortgage Servicing Rights, and (b) Seller shall obtain the written consent of Purchaser prior to any assignment, transfer or sale thereof. 

  
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 Section 7.13 Consents to Transaction Documents. 

Seller shall not terminate, amend, amend and restate, modify or waive any conditions or provisions of any Transaction Document without
the express written consent of Purchaser, which consent shall not be unreasonably withheld, delayed or conditioned. 
 Section
7.14 Accounts. 
 Seller shall inform the Mortgagors of Mortgage Loans at its own expense to remit their mortgage
payments to the Lockbox Account, and any change in such instructions shall only be permitted with the express written consent of Purchaser. 
 Section 7.15 Notification of Certain Events. 
 Seller shall promptly notify
Purchaser of any event which, with the passage of time, could reasonably be expected to result in a termination of any servicing agreement between Seller and the Agency. Seller shall provide Purchaser with copies of any notices from the Agency of
any breach, potential breach, default or potential default by Seller under any servicing agreement between Seller and the Agency, and with copies of any notices from the Agency of any termination, potential termination or threatened termination of
any servicing agreement entered into between Seller and the Agency. Seller shall promptly forward copies of any material notices received from the Agency or from any Governmental Authority with respect to the Mortgage Loans. Seller shall provide
Purchaser with (a) copies of all amendments to the Transaction Documents, the Servicing Agreements (other than with respect to Mortgage Loans owned by Seller) and the agreements relating to Seller’s acquisition of the Mortgage Servicing
Rights, (b) with respect to Mortgage Loans owned by Seller, copies of all material amendments to the Servicing Agreements, and (c) copies of any other agreements Seller enters into with the Agency that may be reasonably material to
Purchaser, in each case, promptly after execution thereof. 
 Section 7.16 Financing; Pledge of Current Excess Servicing
Spread. 
 Seller shall not pledge, obtain Seller financing for, or otherwise permit any Lien (other than a Permitted Lien)
of any creditor of Seller to exist on, any portion of the Servicing Spread Collections without the prior written consent of Purchaser. Seller’s financial statements shall contain footnotes indicating that the Current Excess Servicing Spread has
been sold, and Seller does not maintain any ownership interest therein. 
 Section 7.17 Existence, etc. 

Seller shall: 

(a) preserve and maintain its legal existence and all of its material licenses required to service the Mortgage Loans; 

  
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 (b) comply with the requirements of all Applicable Laws, rules, regulations and orders of
Governmental Authorities (including truth in lending and real estate settlement procedures) if failure to comply with such requirements could be reasonably likely (either individually or in the aggregate) to have a material adverse effect on its
ability to perform its obligations hereunder or under any other Transaction Document; 
 (c) keep adequate records and books of
account, in which complete entries will be made in accordance with GAAP consistently applied, and maintain adequate accounts and reserves for all taxes (including income taxes), all depreciation, depletion, obsolescence and amortization of its
properties, all contingencies, and all other reserves; 
 (d) not move its chief executive office or chief operating office or
its recording office from the addresses referred to in Exhibit I unless it shall have provided Purchaser not less than thirty (30) days prior written notice of such change; 

(e) pay and discharge all material taxes, assessments and governmental charges or levies imposed on it or its income or profits or on
any of its property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge or levy the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are
being maintained. Seller and its subsidiaries shall file on a timely basis all federal, and material state and local tax and information returns, reports and any other information statements or schedules required to be filed by or in respect of it;

 (f) keep in full force and effect the provisions of its charter documents, by-laws, operating agreements or similar
organizational documents in each case to the extent reasonably necessary to perform its obligations hereunder or under any other Transaction Documents; 
 (g) keep in full force and effect all agreements and instruments by which it or any of its properties may be bound and all applicable decrees, orders and judgments, in each case to the extent reasonably
necessary to perform its obligations hereunder or under any other Transaction Document; and 
 (h) comply with its obligations
under the Transaction Documents to which it is a party, the Pledge Agreement, if any, and each other agreement entered into with the Agency. 

  
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 Section 7.18 Consent to Sub-Servicing. 

Subject to the rights of the Agency and except as contemplated under the Mortgage Servicing Rights Purchase and Sale Agreement with
respect to any BofA-Serviced Mortgage Loans, Seller will not permit any Person other than Seller to service or sub-service the Mortgage Loans without the prior written consent of Purchaser, in each case other than third-party vendors customarily
employed by servicers in the ordinary course of business in accordance with prudent mortgage servicing practices. 
 Section
7.19 Nonpetition Covenant. 
 Seller shall not, prior to the date that is one year and one day after the payment in full
of the Current Excess Servicing Spread, petition or otherwise invoke the process of any court or governmental authority for the purpose of commencing or sustaining a case against Purchaser under any insolvency law or appointing a receiver,
liquidator, assignee, trustee, custodian, sequestrator or other similar official of Purchaser or any substantial part of its property, or ordering the winding up or liquidation of the affairs of Purchaser. 

Section 7.20 Data Tape; Schedule of Mortgage Loans. 
 The information in the Data Tape delivered to Purchaser on the Closing Date will be true and correct in all material respects as of the date specified. Seller shall maintain the Schedule of Mortgage
Loans, which shall be updated as of the Closing Date. The information in the Schedule of Mortgage Loans pertaining to the Mortgage Loans and the Mortgage Servicing Rights will be true and correct in all material respects as of the dates specified.

 Section 7.21 Refinancing of Mortgage Loans. 

Each agreement or arrangement that Seller enters into to purchase Mortgage Servicing Rights shall be entered into on an arm’s length
contractual basis in the ordinary course of business and shall have market terms applicable for the type of Mortgage Servicing Rights to be acquired thereby. Seller shall not enter into any agreement or arrangement with a third party intended to
encourage the refinancing of any Mortgage Loan by any Person other than Seller. 
 ARTICLE VIII 

CONDITIONS PRECEDENT TO OBLIGATIONS OF PURCHASER 
 The obligations of Purchaser under this Agreement and under the Assignment Agreement are subject to the satisfaction of the following conditions as of the Closing Date: 

Section 8.01 Correctness of Representations and Warranties. 

The representations and warranties made by Seller in this Agreement and each other Transaction Document to which Seller is a party to be
made on or prior to the Closing Date are true and correct in all material respects. 

  
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 Section 8.02 Compliance with Conditions. 

All of the terms, covenants, conditions and obligations of this Agreement and each other Transaction Document required to be complied
with and performed by Seller on or prior to the Closing Date shall have been duly complied with and performed in all material respects. 
 Section 8.03 Company Resolution. 
 Receipt by the Purchaser of a certified
copy of the Seller’s company resolution approving the execution and delivery of this Agreement and the other Transaction Documents and the consummation of the transactions contemplated hereby and thereby, together with such other certificates
of incumbency and other evidences of company authority as Purchaser or its counsel may reasonably request. 
 Section 8.04
No Material Adverse Change. 
 From the Agreement Date, there shall not have been any change to Seller’s financial
or operating condition, or in the Mortgage Servicing Rights, the Mortgage Loans, the Related Escrow Accounts or to Seller’s relationship with, or authority from, the Agency, that in each case will likely materially and adversely affect the
consummation of the transactions contemplated hereby or the Current Excess Servicing Spread. 
 Section 8.05 Consents.

 Seller shall have obtained all consents, approvals or other requirements of third parties required for the consummation of
the transactions contemplated by the Transaction Documents, including Agency approval as contemplated by Section 4.03. 
 Section 8.06 Delivery of Transaction Documents. 
 Seller shall have
delivered to the Purchaser copies of each executed Transaction Document that is to be entered into on or prior to such date. 

Section 8.07 Certificate of Seller. 
 Seller shall have provided Purchaser a certificate, substantially in the form attached hereto as Exhibit C, signed by an authorized officer of Seller dated as of such date, applicable to the
transactions contemplated by this Agreement, to the effect that: (a) each of Seller’s representations and warranties made in this Agreement and each other Transaction Document to 

  
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which Seller is a party is true and correct in all material respects as of such date; (b) all of the terms, covenants, conditions and obligations of this Agreement and each other Transaction
Document to which Seller is a party that are required to be complied with and performed by Seller at or prior to the Closing Date have been duly complied with and performed in all material respects; (c) the conditions set forth in
Section 8.04 and Section 8.05 have been satisfied; and (d) as of the Closing Date, Seller has a Consolidated Tangible Net Worth of at least the sum of (x) $250,000,000 and (y) 50% of the proceeds from any
issuance of equity on or after the Agreement Date by Seller, Nationstar Mortgage Holdings Inc. or any of Seller’s consolidated subsidiaries , and the Seller (considered together with Seller’s consolidated subsidiaries) is not in default in
any indebtedness in excess of $10,000,000 (individually or in the aggregate). 
 Section 8.08 Valuation. 

Purchaser shall have received an opinion reasonably satisfactory to Purchaser that the Base Servicing Fee of the Mortgage Loans and the
Purchase Price of the Current Excess Servicing Spread is fair and reasonable. 
 Section 8.09 Opinions of Counsel.

 Seller’s counsel shall have delivered the Opinions of Counsel required pursuant to Section 2.04(h),
Section 2.04(i) and Section 2.04(j). 
 Section 8.10 Acquisition of Mortgage Servicing Rights by
Seller. 
 Seller shall have acquired the Mortgage Servicing Rights from BofA pursuant to the Mortgage Servicing Rights
Purchase and Sale Agreement as of the Closing Date. 
 Section 8.11 Good Standing Certificate of Seller. 

Seller shall have provided Purchaser a certificate of good standing of Seller, dated as of a date within five (5) Business Days
prior to the Closing Date. 
 ARTICLE IX 
 CONDITIONS PRECEDENT TO OBLIGATIONS OF SELLER 
 The obligations of
Seller under this Agreement are subject to the satisfaction of the following conditions as of the Closing Date: 
 Section 9.01
Correctness of Representations and Warranties. 
 The representations and warranties made by Purchaser in this Agreement
to be made on or prior to the Closing Date are true and correct in all material respects. 

  
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 Section 9.02 Compliance with Conditions. 

All of the terms, conditions, covenants and obligations of this Agreement required to be complied with and performed by Purchaser on or
prior to the Closing Date shall have been duly complied with and performed in all material respects. 
 Section 9.03 Company
Resolution. 
 As of the date hereof, Seller shall have received from Purchaser a certified copy of its company resolution
approving the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby, together with such other certificates of incumbency and other evidences of company authority as Seller or its counsel may reasonably
request. 
 Section 9.04 Reserved. 
 Section 9.05 Certificate of Purchaser. 
 Purchaser shall have provided
Seller a certificate, substantially in the form attached hereto as Exhibit D, signed by an authorized officer of Purchaser dated as of such date, applicable to the transactions contemplated by this Agreement, to the effect that: (a) each
of Purchaser’s representations and warranties made in this Agreement is true and correct in all material respects as of such date and (b) all of the terms, covenants, conditions and obligations of this Agreement required to be complied
with and performed by Purchaser at or prior to the Closing Date have been duly complied with and performed in all material respects. 
 Section 9.06 Good Standing Certificate of Purchaser. 
 Purchaser shall have
provided Seller a certificate of good standing of Purchaser, dated as of a date within five (5) Business Days prior to the Closing Date. 

  
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 ARTICLE X 
 INDEMNIFICATION; CURE OR REPURCHASE 
 Section 10.01
Indemnification by Seller. 
 (a) Seller shall indemnify, defend and hold Purchaser, its affiliates and its and their
respective directors, managers, officers, employees, agents, representatives and advisors (the “Purchaser Indemnitees”) harmless from and shall reimburse the applicable Purchaser Indemnitee for any Losses suffered or incurred by any
Purchaser Indemnitee after the Closing Date which result from: 
 (i) Any material breach of a representation or
warranty by Seller, or non-fulfillment of any covenant or obligation of Seller, contained in this Agreement or the Assignment Agreement; 
 (ii) Any servicing act or omission of any prior servicer relating to any Mortgage Loan and any act or omission of any party related to the origination of any Mortgage Loan; 

(iii) Any act, error or omission of Seller in servicing any of the Mortgage Loans, including improper action or failure
to act when required to do so; 
 (iv) Any exercise of any rights of setoff or other netting arrangements by the
Agency against Seller that results in a decrease in Servicing Agreements termination payments due to Seller with respect to the Mortgage Loans from the Agency or in a shortfall of funds to pay the Current Excess Servicing Spread; 

(v) Any breach by Seller of the Mortgage Servicing Rights Purchase and Sale Agreement; and 

(vi) Litigation, proceedings, governmental investigations, orders, injunctions or decrees resulting from any of the items
described in Section 10.01(a)(i) – (v) above; 
 provided, however, that the applicable Purchaser
Indemnitee has taken all commercially reasonable and appropriate actions to mitigate any such losses, damages, deficiencies, claims, causes of action or expenses as reasonably requested by Seller, which such failure of mitigation shall not relieve
Seller of its indemnification obligations in this Section 10.01 but may affect the amount of such obligation; and further provided, that any Losses incurred by the Purchaser Indemnitee pursuant to any attempt to mitigate
any such losses, damages, deficiencies, claims, causes of action or expenses shall be reimbursed by Seller as part of its indemnification obligations in this Section 10.01. Purchaser shall notify Seller promptly after receiving written
notice of the assertion of any litigation, proceedings, governmental investigations, orders, injunctions, decrees or any third party claims subject to indemnification under this Agreement (each, a “Third Party Claim”). Upon receipt
of such notice of a Third Party Claim, Seller shall have the right to assume 

  
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the defense of such Third Party Claim using counsel of its choice reasonably satisfactory to the applicable Purchaser Indemnitee, but may not enter into any settlement without the prior written
consent of the applicable Purchaser Indemnitee, which shall not be unreasonably withheld. A Purchaser Indemnitee shall have the right to select separate counsel and to otherwise separately defend itself at its own expense but shall not consent to
the entry of a judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of Seller, which consent shall not be unreasonably withheld. Any exercise of such rights by a Purchaser Indemnitee shall not
relieve Seller of its obligations and liabilities under this Section 10.01 or any other provision of this Agreement. With respect to any Third Party Claim subject to indemnification under this Agreement, the applicable Purchaser
Indemnitee shall be required to cooperate in good faith with Seller to ensure the proper and adequate defense of such Third-Party Claim. For the avoidance of doubt, Seller’s obligations for Purchaser Indemnitees shall not be limited to funds
available in the Third Party Controlled Current Spread Custodial Account or the Current Spread Reserve Account. 
 (b) REIT
Requirements. Notwithstanding anything in Section 10.01(a) above, in the event that counsel or independent accountants for the Protected REIT determine that there exists a material risk that any amounts due to Purchaser under
ARTICLE X hereof would be treated as Nonqualifying Income upon the payment of such amounts to Purchaser, the amount paid to Purchaser pursuant to this Agreement in any tax year shall not exceed the maximum amount that can be paid to Purchaser
in such year without causing the Protected REIT to fail to meet the REIT Requirements for such year, determined as if the payment of such amount were Nonqualifying Income as determined by such counsel or independent accountants to the Protected
REIT. If the amount payable for any tax year under the preceding sentence is less than the amount which Seller would otherwise be obligated to pay to Purchaser pursuant to ARTICLE X of this Agreement (the “Expense Amount”),
then: (1) Seller shall place the Expense Amount into an escrow account (the “Expense Escrow Account”) using an escrow agent and agreement reasonably acceptable to Purchaser and shall not release any portion thereof to
Purchaser, and Purchaser shall not be entitled to any such amount, unless and until Purchaser delivers to Seller, at the sole option of the Protected REIT, (i) an opinion (an “Expense Amount Tax Opinion”) of the Protected
REIT’s tax counsel to the effect that such amount, if and to the extent paid, would not constitute Nonqualifying Income, (ii) a letter (an “Expense Amount Accountant’s Letter”) from the Protected REIT’s
independent accountants indicating the maximum amount that can be paid at that time to Purchaser without causing the Protected REIT to fail to meet the REIT Requirements for any relevant taxable year, or (iii) a private letter ruling issued by
the IRS to the Protected REIT indicating that the receipt of any Expense Amount hereunder will not cause the Protected REIT to fail to satisfy the REIT Requirements (a “REIT Qualification Ruling” and, collectively with an Expense
Amount Tax Opinion and an Expense Amount Accountant’s Letter, a “Release Document”); and (2) pending the delivery of a Release Document by Purchaser to Seller, Purchaser shall have the right, but not the obligation, to
borrow the Expense Amount from the Escrow Account pursuant to a loan agreement (an “Indemnity Loan Agreement”) reasonably acceptable to Purchaser that (i) requires Seller to lend Purchaser immediately available cash proceeds in
an amount equal to the Expense Amount (an “Indemnity Loan”), and (ii) provides for (A) a commercially reasonable interest rate and commercially reasonable covenants, taking into account the credit standing and profile of
Purchaser or any guarantor of Purchaser, including the Protected REIT, at the time of such Loan, and (B) a 15 year maturity with no periodic amortization. 

  
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 Section 10.02 Indemnification by Purchaser. 

Purchaser shall indemnify, defend and hold Seller, its affiliates and its and their respective directors, managers, officers, employees,
agents, representatives and advisors (the “Seller Indemnitees”) harmless from and shall reimburse the applicable Seller Indemnitee for any Losses suffered or incurred by any Seller Indemnitee which result from: 

(a) Any material breach of a representation or warranty by Purchaser, or non-fulfillment of any covenant or obligation of Purchaser
contained in this Agreement; and 
 (b) Litigation, proceedings, governmental investigations, orders, injunctions or decrees,
the basis for which occurred after the Agreement Date, resulting from any of the items described in Section 10.02(a) above; 

provided, however, that the applicable Seller Indemnitee has taken all commercially reasonable and appropriate actions to mitigate any such
losses, damages, deficiencies, claims, causes of action or expenses as reasonably requested by Purchaser, which such failure of mitigation shall not relieve Purchaser of its indemnification obligations in this Section 10.02 but may
affect the amount of such obligation; and further provided, that any Losses incurred by the Seller Indemnitee pursuant to any attempt to mitigate any such losses, damages, deficiencies, claims, causes of action or expenses shall be
reimbursed by Purchaser as part of its indemnification obligations in this Section 10.02. Seller shall notify Purchaser promptly after receiving written notice of the assertion of any litigation, proceedings, governmental investigations,
orders, injunctions, decrees or any third party claims subject to indemnification under this Agreement (each, a “Third Party Claim”). Upon receipt of such notice of a Third Party Claim, Purchaser shall have the right to assume the
defense of such Third Party Claim using counsel of its choice reasonably satisfactory to the applicable Seller Indemnitee, but may not enter into any settlement without the prior written consent of Purchaser, which shall not be unreasonably
withheld. A Seller Indemnitee shall have the right to select separate counsel and to otherwise separately defend itself but shall not consent to the entry of a judgment or enter into any settlement with respect to the Third Party Claim without the
prior written consent of Purchaser, which consent shall not be unreasonably withheld. Any exercise of such rights by a Seller Indemnitee shall not relieve Purchaser of its obligations and liabilities under this Section 10.02 or any other
provision of this Agreement. With respect to any Third Party Claim subject to indemnification under this Agreement, the applicable Seller Indemnitee shall be required to cooperate in good faith with Purchaser to ensure the proper and adequate
defense of such Third-Party Claim. 

  
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 Section 10.03 Award of Damages. 

(a) 
 (i) In the event that an award of damages is received by a Party or a designee of a Party as a result of a judgment, settlement or arbitration (including payment pursuant to a guaranty of BofA by any
other Person) of a legal dispute that occurs either on or after the execution of the Mortgage Servicing Rights Purchase and Sale Agreement in connection with the enforcement of the Mortgage Servicing Rights Purchase and Sale Agreement in the event
of a breach by BofA of any representations and warranties or covenants where such breach had an adverse impact on the value of the Total Servicing Spread, the Current Excess Servicing Spread Percentage of that award shall be distributed to Purchaser
or its designee and the Retained Servicing Spread Percentage of that award shall be distributed to Seller or its designee. 
 (ii) In the event that an award of damages is received by a Party or a designee of a Party as a result of a judgment, settlement or arbitration (including payment pursuant to a guaranty of BofA by any
other Person) of a legal dispute that occurs either on or after the execution of the Mortgage Servicing Rights Purchase and Sale Agreement in connection with the enforcement of the Mortgage Servicing Rights Purchase and Sale Agreement in the event
of a breach by BofA of any representations and warranties or covenants where such breach did not have an adverse impact on the value of the Total Servicing Spread, the entirety of the award shall be distributed to Seller or its designee. 

(b) In the event that a Party or designee of a Party receives an award pursuant to Sections 10.03(a)(i) or (ii) and some or
all of that amount is to be distributed to the other Party or a designee of the other Party pursuant to Sections 10.03(a)(i) or (ii), the Party or the Party’s designee in possession of the applicable amount shall promptly notify the
other Party or the other Party’s designee as to the award’s existence and request that the other Party or other Party’s designee, as applicable, designate an account to which the amount shall be remitted. Once the necessary account
information has been provided by the appropriate Party or designee of a Party, the applicable amount shall be remitted by wire transfer of immediately available funds to the account so designated. 

Section 10.04 Other Rights 
 The Seller hereby acknowledges that, in addition to its rights under this Agreement, the Purchaser is entitled to exercise its rights under the FHLMC Acknowledgement Agreement. 

  
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 ARTICLE XI 
 MISCELLANEOUS 
 Section 11.01 Costs and Expenses.

 (a) In addition to the payment of certain enforcement expenses as provided for in the Priority of Payments, Purchaser shall
be responsible for 100% of the legal expenses of Skadden, Arps, Slate, Meagher & Flom LLP in connection with the preparation, negotiation, execution and enforcement of the Transaction Documents on behalf of Purchaser. 

(b) In addition to the payment of certain enforcement expenses as provided for in the Priority of Payments, Seller shall be responsible
for: 
 (i) 100% of the legal expenses of Seller’s counsel in connection with the preparation, negotiation
and execution of the Mortgage Servicing Rights Purchase and Sale Agreement 
 (ii) 100% of the expenses incurred
in obtaining any necessary regulatory approvals of any Governmental Authority in connection with the execution and delivery of the Transaction Documents, 
 (iii) 100% of the legal expenses of Seller’s counsel in connection with the preparation, negotiation, execution and enforcement of the Transaction Documents on behalf of Seller; and 

(iv) 100% of expenses related to servicing and principal advances, the financing of such advances and any similar
arrangements under the Servicing Agreements. 
 (c) Except as otherwise provided herein, Purchaser and Seller shall each pay
the expenses incurred by it or its affiliates in connection with the transactions contemplated hereby. 
 Section 11.02
Confidentiality. 
 Each Party understands that in connection with this transaction, it has been furnished and will be
furnished Non-Public Personal Information and/or Personally Identifiable Financial Information (as those terms are defined in Sections 573.3(n) and (o) of the Office of Thrift Supervision Regulations on Privacy of Consumer Information published
at 12 C.F.R. Chapter V implementing Title V of the Gramm-Leach-Bliley Act), and other information regarding the policies and plans of the other Party and its affiliates that is and has been designated as confidential and proprietary, and each Party
agrees that it will maintain the confidentiality of such information and will not disclose it to others (except for its affiliates and its and their respective directors, managers, officers, employees, financing sources, agents, representatives and
advisors), or use it except in connection with the proposed acquisition contemplated by this Agreement, without the prior written consent of the Party furnishing such information. 

  
 45 

 
Information which is generally known in the industry concerning a Party or among such Party’s creditors generally or which has been disclosed to the other Party by third parties who have a
right to do so shall not be deemed confidential or proprietary information for these purposes. If Purchaser, any of its affiliates or any officer, director, employee or agent of any of the foregoing is at any time requested or required to disclose
any information supplied to it in connection with the transactions contemplated hereby, Purchaser agrees to provide Seller with prompt notice of such request(s) so that Seller may seek an appropriate protective order and/or waive Purchaser’s
compliance with the terms of this Section 11.02. If Seller, any of its affiliates or any officer, director, employee or agent of any of the foregoing is at any time requested or required to disclose any information supplied to it in
connection with the transactions contemplated hereby, Seller agrees to provide Purchaser with prompt notice of such request(s) so that Purchaser may seek an appropriate protective order and/or waive Seller’s compliance with the terms of this
Section 11.02. Notwithstanding the terms of this Section 11.02, if, in the absence of a protective order or the receipt of a waiver hereunder, Purchaser or Seller is nonetheless, in the opinion of its counsel, compelled to
disclose information concerning the other Party to any tribunal or else stand liable for contempt or suffer other censure or penalty, Purchaser or Seller may disclose such information to such tribunal without liability hereunder. If the proposed
acquisition is not consummated, each Party agrees to promptly return to the other, promptly upon request, all confidential materials, and all copies thereof, which have been furnished to it in connection with the transactions contemplated hereby.
For the avoidance of doubt, either Party may provide its shareholders and creditors with a general description of this Agreement and any related transactions, and, subject to the provisions of this Section 11.02, information obtained
from the reports provided by Seller pursuant to Section 7.07. 
 Section 11.03 Broker’s Fees.

 Each party hereto represents and warrants to the other that it has made no agreement to pay any finder’s, agent’s,
broker’s or originator’s fee arising out of or in connection with the subject matter of this Agreement, other than Purchaser’s agreement with Phoenix Capital Inc. In the event Purchaser has entered or enters into an agreement to pay
any finder’s, agent’s, broker’s, advisor’s or originator’s fee arising out of or in connection with the subject matter of this Agreement, Purchaser shall be solely responsible for all such fees. The parties hereto shall
indemnify and hold each other harmless from and against any such obligation or liability and any expense incurred in investigating or defending (including reasonable attorneys’ fees) any claim based upon the other party’s actions in
connection with such obligation. 
 Section 11.04 Relationship of Parties. 

The Parties intend that the transactions contemplated in the Transaction Documents constitute arms-length transactions among third
parties. Nothing contained in the Transaction Documents will establish any fiduciary, partnership, joint venture or similar relationship between or among the Parties except to the extent otherwise expressly stated therein. 

  
 46 

 Section 11.05 Survival of Representations and Warranties. 

Each party hereto covenants and agrees that the representations and warranties in this Agreement, and in any document delivered or to be
delivered pursuant hereto, shall survive the Closing Date. 
 Section 11.06 Notices. 

All notices, requests, demands and other communications which are required or permitted to be given under this Agreement shall be in
writing and shall be deemed to have been given if personally delivered or sent by registered or certified mail, return receipt requested, postage prepaid or by prepaid overnight delivery service: 

(a) If to Purchaser, to: 
 Fortress Investment Group 
 1345 Avenue of the Americas 

New York, NY 10105 
 Attn: Brian Sigman 
 Chief Financial Officer 

(212) 479-5343 
 (b) If to Seller, to: 
 Nationstar Mortgage LLC 

350 Highland Drive 
 Lewisville, Texas 75067 
 Attn: Amar Patel 

or to such other address as Purchaser or Seller shall have specified in writing to the other. 

Section 11.07 Waivers. 
 Either Purchaser or Seller may, by written notice to the other: 
 (a) Extend the
time for the performance of any of the obligations or other transactions of the other; and 
 (b) Waive compliance with or
performance of any of the terms, conditions, covenants or obligations required to be complied with or performed by the other hereunder. 

  
 47 

 The waiver by Purchaser or Seller of a breach of any provision of this Agreement shall not
operate or be construed as a waiver of any other subsequent breach. 
 Section 11.08 Entire Agreement; Amendment.

 This Agreement and the related Transaction Documents constitute the entire agreement between the parties with respect to the
transactions contemplated hereby and supersede all prior agreements with respect thereto. This Agreement may be amended only in a written instrument signed by both Seller and Purchaser. 

Section 11.09 Binding Effect. 
 This Agreement shall inure to the benefit of and be binding upon the Parties and their successors and assigns. Nothing in this Agreement, express or implied, is intended to confer on any Person other than
the Parties and their successors and assigns, any rights, obligations, remedies or liabilities. 
 Section 11.10
Headings. 
 Headings on the Articles and Sections in this Agreement are for reference purposes only and shall not be
deemed to have any substantive effect. 
 Section 11.11 Applicable Law. 

This Agreement shall be construed in accordance with the laws of the State of New York and the obligations, rights and remedies of the
parties hereunder shall be determined in accordance with the laws of the State of New York, except to the extent preempted by Federal law. This Agreement shall constitute a security agreement under the laws of the State of New York. In addition to
any other rights available under this Agreement or otherwise available at law or in equity but subject to the terms hereof, Purchaser shall have all rights and remedies of a secured party with respect to the Collateral under the laws of the State of
New York and under any other applicable law to enforce the assignments and security interests contained herein and, in addition, shall have the right, subject to compliance with any mandatory requirements of applicable law and the terms of this
Agreement, to sell or apply any rights and other interests with respect to the Collateral assigned or pledged hereby in accordance with the terms hereof at public and private sale in accordance with the terms of this Agreement. The parties agree to
waive trial by jury in the event of any dispute under this Agreement. 
 Section 11.12 Incorporation of Exhibits.

 The Exhibits attached hereto shall be incorporated herein and shall be understood to be a part hereof as though included in
the body of this Agreement. 

  
 48 

 Section 11.13 Counterparts. 

This Agreement may be executed in counterparts, each of which, when so executed and delivered, shall be deemed to be an original and all
of which, taken together, shall constitute one and the same agreement. 
 Section 11.14 Severability of Provisions.

 If any one or more of the covenants, agreements, provisions or terms of this Agreement shall be for any reason whatsoever
held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Agreement and shall in no way affect the validity or enforceability of the other
provisions of this Agreement or of the rights of the parties hereto. 
 Section 11.15 Public Announcement. 

No public release or statement concerning the subject matter of this Agreement shall be made by either party without the express written
consent and approval of the other party, except as required by law or stock exchange rule, and provided that on and after the Agreement Date, either party may provide its shareholders and creditors with a general description of this Agreement and
any related transactions, and, subject to the provisions of Section 11.02, information obtained from the reports provided by Seller pursuant to Section 7.07. 

Section 11.16 Assignment. 
 (a) Seller may not assign, transfer, sell or subcontract all or any part of this Agreement, any interest herein, or any of the Seller’s interest in the Servicing Spread Collections, other than the
interest in the Total Servicing Spread sold hereby, without the prior written consent of Purchaser, provided that any successor to Seller must assume Seller’s obligations under this Agreement. Purchaser shall have the unrestricted right
to further assign, transfer, deliver, hypothecate, pledge, subdivide or otherwise deal with its rights under this Agreement on whatever terms Purchaser shall determine without the consent of Seller; including the right to assign all or any portion
of the Current Excess Servicing Spread and to assign Current Excess Servicing Spread Rights. If Purchaser assigns any rights under this Agreement to a third party (a “Third Party Assignment“), such third party (a “Third
Party Assignee“) shall enter into a new agreement (a “Third Party Current Spread Agreement“) with Seller or Seller’s assignee that provides such Third Party Assignee with the same rights with respect to the Current
Excess Servicing Spread Rights that Purchaser would have had under this Agreement if the Third Party Assignment had not occurred. 

  
 49 

 (b) Seller shall maintain a register on which it enters the name and address of each holder
of the Current Excess Servicing Spread and each holder’s interest in the Current Excess Servicing Spread (the “Holder Register”) for each transaction described in Section 11.16(a). The entries in the Holder Register shall
be conclusive absent manifest error, and Seller shall treat each Person whose name is recorded in the Holder Register as an owner of the Current Excess Servicing Spread for all purposes of this Agreement notwithstanding any notice to the contrary.

 Section 11.17 Termination. 
 (a) If all necessary Owner Consents are not received by the Closing Date, or the Mortgage Servicing Rights Purchase and Sale Agreement is terminated, this Agreement shall be terminated concurrently
therewith, without any further action of either Party, and neither Party shall have any further obligations to the other Party hereunder, except as expressly set forth herein. 

(b) This agreement may be terminated by Purchaser if the Closing Date does not occur on or before May 31, 2012 or such other date
as may be mutually agreed to in writing by Seller and Purchaser, and upon such termination neither Party shall have any further obligations to the other Party hereunder, except as expressly set forth herein. 

Section 11.18 Third Party Beneficiaries. 
 This Agreement does not and is not intended to confer any rights or remedies upon any person or entity other than Purchaser and Seller, except as provided in Section 10.01 and in
Section 10.02, provided that Purchaser and Seller reserve the right to modify any term of, or terminate, this Agreement, without the consent of any Purchaser Indemnitee or Seller Indemnitee. 

  
 50 

 IN WITNESS WHEREOF, each of the undersigned parties to this Agreement has caused this
Agreement to be duly executed in its company name by one of its duly authorized officers, all as of the date first above written. 
  

			
	NIC MSR III LLC
	Purchaser
		
	By:	 	 /s/ Brian Sigman

	Name:	 	Brian Sigman
	Title:	 	Chief Financial Officer
	
	NATIONSTAR MORTGAGE LLC
	Seller
		
	By:	 	 /s/ Amar Patel

	Name:	 	Amar Patel
	Title:	 	Executive Vice President

 Current Excess Servicing Spread Acquisition Agreement for FHLMC Mortgage Loans 

 EXHIBIT A 

FORM OF ASSIGNMENT AGREEMENT FOR MORTGAGE LOANS 
 Date: [                    ] 
 Subject to, and upon the terms and conditions of the Current Excess Servicing Spread Acquisition Agreement for FHLMC Mortgage Loans, dated as of May [ ], 2012 (the “Agreement”), by
and between Nationstar Mortgage LLC, a Delaware limited liability company (together with its successors and assigns, the “Seller”) and NIC MSR III LLC, a Delaware limited liability company (together with its successors assigns, the
“Purchaser”), as may be amended, restated, or otherwise modified and in effect from time to time, Seller hereby assigns, transfers and delivers to Purchaser all of Seller’s right, title and interest in and to Current Excess
Servicing Spread for each of the Mortgage Loans set forth in Annex A attached hereto and all proceeds thereof, and agrees that as of the Closing Date, the applicable Mortgage Loan shall be deemed to be a “Mortgage Loan” for all purposes of
the Agreement. Capitalized terms used in this Assignment Agreement have the meanings given to such terms in, or incorporated by reference into, the Agreement. 
 In the event (but only in the event) that the conveyance of the Current Excess Servicing Spread is characterized by a court or governmental authority as security for a loan rather than a sale, Seller will
be deemed to have granted to Purchaser, and Seller hereby grants to Purchaser, a security interest in all of its right, title and interest in, to and under the Current Excess Servicing Spread and all proceeds thereof as security for a loan in an
amount of the Purchase Price. 
 All of the terms, covenants, conditions and obligations of the Agreement required to be
complied with and performed by Seller on or prior to the date hereof have been duly complied with and performed in all material respects. 
 IN WITNESS WHEREOF, the undersigned, intending to be legally bound hereby, has duly executed this Assignment Agreement for Mortgage Loans as of the date first written above. 

 

			
	NATIONSTAR MORTGAGE LLC
	Seller
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 Annex A 
 [ATTACH ANNEX A, WHICH MAY BE ON COMPUTER TAPE, COMPACT DISK, OR 

MICROFICHE, CONTAINING THE INFORMATION SET FORTH BELOW] 

 

													
	 (a)
	  	 (b)
	  	 (c)
	  	 (d)
	  	 (e)
	  	 (f)

(column (d) –
 column (e))
	  	 (g)

([    ]% of column
(f))

	 Closing

Date
	  	 Loan # of

Mortgage

Loan
	  	 Principal

Balance of

Mortgage

Loan as of the
 Closing Date
	  	 Servicing

Fee Rate
	  	 Base Servicing

Fee Rate
	  	 Net Servicing Fee

Rate
	  	 Current

Excess Servicing
Spread

		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	

 EXHIBIT B 

SCHEDULE OF MORTGAGE LOANS 
 [SEPARATELY DELIVERED] 

 EXHIBIT B-1 

Estimated Base Purchase Price Computation Worksheet 
 Number of Loans: 
 Unpaid Principal Balance as of April month-end: 

Purchase Price Percentage: 
 Total Estimated
Purchase Price: 
 Current Excess Servicing Spread Percentage: 
 Purchase Price Deposit Percentage: 
 Purchase Price Deposit Due: 

 

			
	Completed by:	  	Phone Number:

 Wire Instructions 

 EXHIBIT C 

SELLER’S OFFICER’S CERTIFICATE 
 (To be supplied on the Closing Date) 
 Date:
[                    ] 
 I,
                    , a [Vice President] of Nationstar Mortgage LLC (the “Company”), pursuant to Section 8.07 of the
Current Excess Servicing Spread Acquisition Agreement for FHLMC Mortgage Loans by and between NIC MSR III LLC and the Company, dated as of
[                    ] (the “Agreement”), hereby certify on behalf of the Company that: 

(i) Each of the Company’s representations and warranties made in the Agreement and each other Transaction Document
(as defined in the Agreement) to which the Company is a party is true and correct in all material respects as of the date hereof; 
 (ii) All of the terms, covenants, conditions and obligations of the Agreement and each other Transaction Document to which the Company is a party required to be complied with and performed by the Company
at or prior to the date hereof have been duly complied with and performed in all material respects; 
 (iii) The
conditions set forth in Sections 8.04 and 8.05 of the Agreement have been satisfied; and 
 (iv)
As of the date hereof, the Company has a Consolidated Tangible Net Worth (as defined in the Agreement) of at least the sum of (x) $250,000,000 and (y) 50% of the proceeds from any issuance of equity on or after the date of the Agreement by
the Company, Nationstar Mortgage Holdings Inc. or any of the Company’s consolidated subsidiaries, and the Company (considered together with its consolidated subsidiaries) is not in default in any indebtedness in excess of $10,000,000
(individually or in the aggregate). 
 IN WITNESS WHEREOF, the undersigned has executed this Certificate as of the date first
above written. 
  

			
	By:	 	  

 EXHIBIT D 

PURCHASER’S OFFICER’S CERTIFICATE 
 (To be supplied on the Closing Date) 
 Date:
[                    ] 
 I,
                    , [POSITION] of NIC MSR III LLC (the “Company”), pursuant to Section 9.05 of the Current Excess
Servicing Spread Acquisition Agreement for FHLMC Mortgage Loans by and between the Company and Nationstar Mortgage LLC, dated as of May [    ], 2012 (the “Agreement”), hereby certify on behalf of the
Company that: 
 (i) Each of the Company’s representations and warranties made in the Agreement is true and correct in all
material respects as of the date hereof; and 
 (ii) All of the terms, covenants, conditions and obligations of the Agreement
required to be complied with and performed by the Company at or prior to the date hereof have been duly complied with and performed in all material respects. 
 IN WITNESS WHEREOF, the undersigned has executed this Certificate as of the date first above written. 
  

			
	NIC MSR III LLC
		
	By:	 	  

 EXHIBIT E 

LOCATION OF CREDIT FILES 

Credit Files held by Seller 
 350
Highland Drive 
 Lewisville, Texas 75067 
 Credit Files held by other Custodians 
 [To be provided by Seller] 

 EXHIBIT F 

FORM OF SUMMARY REMITTANCE REPORT 
 [DELIVERED SEPARATELY] 

 EXHIBIT G 

FORM OF DELINQUENCY REPORT 
 [DELIVERED SEPARATELY] 

 EXHIBIT H 

FORM OF DISBURSEMENT REPORT 
 [DELIVERED SEPARATELY] 
 EXHIBIT I 

SELLER JURISDICTIONS AND RECORDING OFFICES 
 Chief Executive Office: 
 350 Highland Drive 

Lewisville, Texas 75067 

Recording Office: 
 Secretary
of State, State of Delaware

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