Document:

Unassociated Document

Exhibit 10.1

 

FIRST AMENDMENT TO TRANSITION SERVICES AGREEMENT

This First Amendment to the Transition Services Agreement (the “First Amendment”) is entered into as of August 10, 2011, and amends that certain Transition Services Agreement dated August 10, 2009 (the “Agreement”) by and between OCWEN FINANCIAL CORPORATION, a Florida corporation (“OCWEN” or together with its affiliates “OCWEN Group”) and ALTISOURCE SOLUTIONS S.à r.l., a  limited liability company organized under the laws of the Grand Duchy of Luxembourg (“ALTISOURCE” or together with its affiliates “ALTISOURCE Group”).

Recitals

WHEREAS, OCWEN and Altisource Portfolio Solutions S.A., the sole parent of ALTISOURCE (“ALTISOURCE Parent”), are parties to a Separation Agreement dated as of August 10, 2009 (the “Separation Agreement”), pursuant to which OCWEN (i) contributed to ALTISOURCE Parent the Altisource Business (as defined in the Separation Agreement) and (ii) distributed (the “Distribution”) to the holders of shares of OCWEN’s outstanding capital stock all of the outstanding capital stock of ALTISOURCE Parent;

WHEREAS, following the Distribution, ALTISOURCE Parent operates the Altisource Business, and OCWEN operates the OCWEN Business (as defined in the Separation Agreement);

WHEREAS, ALTISOURCE desires to extend for a limited period of time the Agreement so that it may continue to receive, and OCWEN is willing to continue to provide, or cause to be provided, certain transition services in connection with the Altisource Business; and

WHEREAS, OCWEN desires to extend for a limited period of time the Agreement so that it may continue to receive, and ALTISOURCE is willing to continue to provide, or cause to be provided, certain transition services in connection with the OCWEN Business.

Agreement

NOW, THEREFORE, in consideration of the mutual covenants made herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows:

1.           Amendment to Section 2., Provision of Services, subparagraph (a) to the Agreement. Section 2., Provision of Services, subparagraph (a) to the Agreement is hereby deleted in its entirety and replaced with the following:

(a)   Generally. Subject to the terms and conditions of this Agreement, (i) OCWEN shall provide, or cause to be provided, to ALTISOURCE and the ALTISOURCE Group, solely for the benefit of the Altisource Business in the ordinary course of business, some or all of the OCWEN-Provided Services, and (ii) ALTISOURCE shall provide, or cause to be provided, to OCWEN and the OCWEN Group, solely for the benefit of the OCWEN Business in the ordinary course of business, some or all of the ALTISOURCE-Provided Services, in each case for periods commencing on the date the First Amendment is executed through the respective period specified in Schedule I or Schedule II (the “Service Period”), unless such period is earlier terminated in accordance with Section 5.

2.           Amendment to Schedule I to the Agreement. Schedule I to the Agreement is hereby deleted in its entirety and replaced with the version of Schedule I to this First Amendment and incorporated herein by this reference.

3.           Amendment to Schedule II to the Agreement. Schedule II to the Agreement is hereby deleted in its entirety and replaced with the version of Schedule II to this First Amendment and incorporated herein by this reference.

4.           Counterparts. This Amendment may be signed in counterparts with the same effect as if both parties had signed one and the same document.

5.           Agreement in Full Force and Effect as Amended. The terms and conditions of this First Amendment shall prevail over any conflicting terms and conditions in the Agreement. Capitalized terms that are used in this First Amendment not otherwise defined herein shall have the meanings ascribed to them in the Separation Agreement or the Agreement. Except as specifically amended or waived hereby, all of the terms and conditions of the Agreement shall remain in full force and effect. All references to the Agreement in any other document or instrument shall be deemed to mean the Agreement as amended by this First Amendment. The parties hereto agree to be bound by the terms and obligations of the Agreement, as amended by this First Amendment, as though the terms and obligations of the Agreement were set forth herein.

 

  

  

  

IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be executed by their respective authorized representatives.

	
ALTISOURCE SOLUTIONS S.à r.l.

	  	
OCWEN FINANCIAL CORPORATION

	  	  	  
	

By:

	
/s/ William B.Shepro 

	  	

By:

	
/s/ Ronald M. Faris 

	
Name: William B. Shepro

	  	
Name: Ronald M. Faris

	
Title: Manager

	  	
Title: President and CEO

  

  

  

 

SCHEDULE I

 

OCWEN-PROVIDED SERVICES

	
 

Services Provided

 

	
 

Service Period (months)

 

	
 

Service Fee

 

	
 

FINANCE AND ACCOUNTING

 

Services Provided:

 

●   Corporate Accounting

 

●   Accounts Payables

 

●   Accounts Receivables

 

●   Corporate Secretary Support

 

●   Financial Reporting

 

●   Payroll Services

 

●   Tax

 

●   Treasury

 

	
 

12

 

	
 

Fully allocated cost of providing services.

 

	
 

HUMAN RESOURCES

 

Services Provided:

 

●   Benefits Administration

 

●   Employee and Contractor On-boarding

 

●   Employee Engagement

 

●   HR Administration

 

●   HR Strategy and Consulting

 

●   HRIS Administration and Reporting

 

●   Performance Management Platforms

 

●   Personnel Files

 

●   Recruiting

 

●   Salary Administration

 

●   Training and Compliance Support

 

	
 

12

 

	
 

Fully allocated cost of providing services.

 

 

  

  

  

 

	

 

Services Provided

	

 

Service Period (months)

	
 

 Service Fee

 

	
 

LAW

 

Services Provided:

 

●   Contract Review Services

 

●   Corporate Governance Services

 

●   Intellectual Property Maintenance Services

 

●   License Maintenance Services

 

●   Litigation Management

 

●   Regulatory Compliance Services

 

	
 

12

 

	
 

Fully allocated cost of providing services.

 

	
 

RISK MANAGEMENT

 

Services Provided:

 

●   Internal Audit

 

●   SOX Compliance and SAS 70

 

●   Business continuity and Disaster Recovery Planning

 

●   Six Sigma

 

	
 

12

 

	
 

Fully allocated cost of providing services.

 

	
 

OTHER OPERATIONS SUPPORT

 

Services Provided:

 

●   Capital Markets

 

●   Modeling

 

●   Quantitative Analytics

 

●   General Business Consulting

 

	
 

12

 

	
 

Fully allocated cost of providing services.

 

 

  

  

  

 

SCHEDULE II

 

ALTISOURCE-PROVIDED SERVICES

	
 

Services Provided

 

	
 

Service Period (months)

 

	
 

Service Fee

 

	
 

CONSUMER PSYCHOLOGY

 

Services Provided:

 

●   Scripting Support

 

●   Staffing Models

 

●   Training Development

 

●   User and Task Analysis

 

	
 

12

 

	
 

Fully allocated cost of providing services.

 

	
 

CORPORATE SERVICES

 

Services Provided:

 

●   Facilities Management

 

●   Mailroom Support

 

●   Physical Security

 

●   Travel Services

 

	
 

12

 

	
 

Fully allocated cost of providing services.

 

	
 

FINANCE AND ACCOUNTING

 

Services Provided:

 

●   Accounting Services and Reporting

 

●   Accounts Payables

 

●   Accounts Receivables

 

●   Corporate Secretary Support

 

●   Financial Reporting

 

●   Payroll Services

 

●   Tax

 

●   Treasury

 

	
 

12

 

	
 

Fully allocated cost of providing services.

 

 

  

  

  

 

	
 

Services Provided

 

	
 

Service Period (months)

	
 

Service Fee

	
 

HUMAN RESOURCES

 

Services Provided:

 

●   Benefits Administration

 

●   Employee and Contractor On-boarding

 

●   Employee Engagement

 

●   HR Administration

 

●   HR Strategy and Consulting

 

●   HRIS Administration and Reporting

 

●   Performance Management Platforms

 

●   Personnel Files

 

●   Recruiting

 

●   Salary Administration

 

●   Training and Compliance Support

 

	
 

12

 

	
 

Fully allocated cost of providing services.

 

	
 

RISK MANAGEMENT AND SIX SIGMA

 

Services Provided:

 

●   Information Security

 

●   Internal Audit

 

●   Loan Quality

 

●   Quality Assurance

 

●   Risk Management

 

●   SOX Compliance and SAS 70

 

●   Six Sigma

 

●   Business continuity and Disaster Recovery Planning

 

	
 

12

 

	
 

Fully allocated cost of providing services.

 

 

  

  

  

 

	
 

Services Provided

 

	

 

Service Period (months)

	

 

Service Fee

	
 

VENDOR MANAGEMENT OPERATIONS

 

Services Provided:

 

●   Contract Negotiation

 

●   Vendor Compliance

 

●   Vendor Management Services

 

●   Insurance Risk Management

 

	
 

12

 

	
 

Fully allocated cost of providing services.

 

	
 

OTHER OPERATIONS SUPPORT

 

Services Provided:

 

●   Capital Markets

 

●   Modeling

 

●   Quantitative Analytics

 

●   General Business Consulting

 

	
 

12

 

	
 

Fully allocated cost of providing services.KWest Investment International Ltd. - Exhibit 4.1 - Filed by newsfilecorp.com

[FRONT] 

Form of Share Certificate 

INCORPORATED UNDER THE LAWS OF THE STATE OF NEVADA 

[LOGO] 

CUSIP NO. [sample]

KWEST INVESTMENT INTERNATIONAL LTD. 

AUTHORIZED COMMON STOCK: 100,000,000 SHARES
PAR VALUE:
$0.0001 PER SHARE 

THIS CERTIFIES THAT 

[SAMPLE] 

IS THE RECORD HOLDER OF __________________

     Shares of KWEST INVESTMENT
INTERNATIONAL LTD. Common Stock transferable on the books of the Corporation in
person or by duly authorized attorney upon surrender of this Certificate
properly endorsed. This Certificate is not valid until countersigned by the
Transfer Agent and registered by the Registrar. 

Witness the facsimile seal of the Corporation and the facsimile
signatures of its duly authorized officers. 

Dated: 

 

	 	 	 
	Secretary 	 	President 

[KWEST INVESTMENT INTERNATIONAL LTD. CORPORATE SEAL NEVADA] 

[BACK] 

Signature must be guaranteed by a firm which is a member of a
registered national stock exchange, or by bank (other than a savings bank), or a
trust company. The following abbreviations, when used in the inscription on the
face of this certificate, shall be construed as though they were written out in
full according to applicable laws or regulations. 

Additional abbreviations may also be used though not on the
above list. 

For Value Received, _______hereby sell, assign and transfer
unto 

	PLEASE INSERT SOCIAL SECURITY OR OTHER 
	IDENTIFYING NUMBER OF ASSIGNEE 
	 
	 

	 
	(Please print or typewrite name and address, including zip
      code or assignee) 
	 
	 

_________________________________________________ Shares

of the capital stock represented by the within certificate, and
do hereby irrevocably constitute and appoint 

_________________________________________________ Attorney

to transfer the said stock on the books of the within named
Corporation with full power of substitution in the premises. 

Dated:
____________________________________________________________

NOTICE: The signature to this assignment must correspond with
the name as written upon the face of the certificate in every particular without
alteration or enlargement or any change whatever

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