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EXHIBIT 10.1

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AMENDED AND RESTATED

MANAGEMENT AGREEMENT

     This Amended and Restated Management Agreement (this “Agreement”) effective as of January 1,
2006, by and among Lafarge North America Inc., a Maryland corporation (“LNA”), Lafarge S.A., a
corporation organized and existing under the laws of France (“Lafarge”), and Blue Circle North
America, an Alabama corporation and an indirect subsidiary of Lafarge (“BCNA”).

RECITALS

     A. By means of its acquisition of Blue Circle Industries PLC (“BCI”), Lafarge acquired BCI’s
North American businesses (certain assets of which were subsequently disposed of by Lafarge) and
has acquired certain other related businesses and assets for which (other than assets disposed of
by Lafarge) LNA has provided ongoing management services, including all the cement production,
distribution, sales and marketing operations of BCNA located in the U.S. and Canada and all of the
concrete and aggregates production, distribution, sales and marketing operations of BCNA located in
the U.S. and Canada including the assets comprising the PreCon business in Ontario, Canada (such
assets being herein collectively referred to as the “Assets” and the business conducted by BCNA
with the Assets being referred to as the “Business”).

     B. Lafarge desires that LNA continue to provide certain ongoing management services to BCNA
with respect to the Assets and the Business, and LNA is willing to provide such services upon the
terms and conditions contained herein.

     C. The parties desire to amend and restate, effective as of January 1, 2006, that certain
Management Agreement dated as of July 11, 2001 by and among LNA, Lafarge and BCNA (the “Old
Management Agreement”), it being understood and agreed that the Old Management Agreement shall be
in full force and effect until the effective date of the Agreement.

     NOW, THEREFORE, in consideration of the representations, warranties, covenants and agreements
set forth herein, and for all other good and valuable consideration the receipt and sufficiency of
which are hereby acknowledged, the parties hereto hereby agree to amend and restate the Old
Management Agreement, effective as of January 1, 2006, as follows:

ARTICLE I

Management

     Section 1.1. Engagement. Subject to the terms and conditions hereof, BCNA hereby
engages LNA as the manager of the Assets and the Business, to manage to the extent permitted by law
the operations of the Business in their ordinary course, and LNA agrees to be so engaged by BCNA.
In addition, the parties may agree by separate agreement from time to time during the Term (as
defined in Article V) for LNA to undertake certain managerial responsibilities outside of the
ordinary course of business with respect to the Business and/or the Assets. BCNA agrees to appoint
the chief executive officer of LNA as the chief executive officer of BCNA for the

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Term, with such authority as is customary for such position and with the appropriate executive
officers of BCNA reporting to the chief executive officer or his designees.

     Section 1.2. Delegation of Rights, Power and Authority.

     (a) Subject to terms and conditions hereof (including the limitation contained in this
subsection (a) and in subsection (b) below), BCNA hereby delegates to LNA all power and
authority to manage the Assets and the Business in the ordinary course, including without
limitation the power and authority, in the name and on behalf of BCNA:

     (i) to manage the Assets and operate the Business on a day-to-day basis and
make all operational decisions with respect thereto including, without limitation,
decisions relating to pricing, customer collections, personnel hirings, terminations
and compensation matters, corporate and regional reorganizations and restructurings,
plant operations, and short and long-term contractual arrangements;

     (ii) to authorize individual capital expenditures and/or capital lease projects
of up to $10 million, provided such projects are within the overall BCNA budget
approved by the BCNA Board of Directors;

     (iii) to acquire assets, in any single transaction or series of related
transactions, for up to $10 million, provided such acquisitions are within the
overall BCNA budget for acquisitions and development approved by the BCNA Board of
Directors;

     (iv) to sell or divest Assets, in any single transaction or series of related
transactions, for up to $10 million;

     (v) to manage all BCNA cash management, debt management and treasury functions;

     (vi) to manage all human resource and personnel matters;

     (vii) to prepare and present annual capital and operating budgets to the Board
of Directors of BCNA for approval and to use its best efforts to operate within such
budgets;

     (viii) to employ from time to time third parties to render services to BCNA,
including, but not limited to, attorneys, independent certified public accountants,
consultants, brokers, agents and advisors (including attorneys, accountants,
consultants, brokers, agents and advisors who also may act as attorneys,
accountants, consultants, brokers, agents and advisors for LNA), to the extent that
the service to be rendered to BCNA by any such third party is generally related to
the business purpose or the day-to-day operations of BCNA;

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     (ix) to procure and maintain in force such insurance as LNA shall deem prudent
to serve as protection against liability for loss and damage which may be occasioned
by the activities to be engaged in by BCNA;

     (x) to control any matters affecting the rights and obligations of BCNA,
including the conduct of any litigation or arbitration proceedings and the incurring
of legal expenses and the settlement of claims and litigation, to the extent that
any such matter is generally related to the business purpose or the day-to-day
operations of BCNA;

     (xi) to open, maintain and close bank accounts and custodial accounts and to
execute and deliver checks, drafts, endorsements and other orders for the payment of
BCNA funds;

     (xii) to appear and to represent BCNA before any governmental authority or
regulatory agency and to make all necessary or appropriate filings before such
authority or agency, to the extent that any such appearance, representation or
filing is generally related to the business purpose or the day-to-day operations of
BCNA; and

     (xiii) to take such other action, execute and deliver such other documents and
perform such other acts as may be deemed by LNA to be necessary or advisable to
carry out the business and affairs of BCNA.

     (b) Notwithstanding any other provisions of this Agreement to the contrary, LNA shall
not have the right, power or authority to, and shall not, do, perform or authorize any of
the following by or on behalf of BCNA without having received the prior consent of the Board
of Directors of BCNA:

     (i) adopt annual capital or operating budgets;

     (ii) authorize individual capital expenditures and/or capital lease projects,
divestitures or acquisitions in excess of $10 million;

     (iii) authorize financial borrowings or lines of credit;

     (iv) authorize any single corporate guarantee for the payment of money or the
performance of any contract or other obligation of any customer for an amount in
excess of $10 million or any guarantee that would result in the total of all
outstanding BCNA guarantees exceeding $25 million; or

     (v) approve the hiring, termination or compensation arrangements of any BCNA
employee who reports directly to the CEO or who has been designated as a key
employee by the BCNA Board of Directors.

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ARTICLE II

Management Fee; Reimbursement

     Section 2.1. Management Fee.

     (a) During the Term, BCNA shall pay to LNA, in consideration of the services performed
under this Agreement, an annual fee (the “Fee”) equal to (i) the Estimated Incremental Costs
(as defined below), plus (ii) $12 million (as it may be increased for inflation, the “Fixed
Annual Fee”), plus (iii) the Incentive Fee (as defined below). Beginning with the calendar
year 2006 and annually thereafter, the Fixed Annual Fee shall be subject to an increase
equal to the percentage increase in the December Producers Price Index for Finished Goods
(the “Finished Goods PPI”) with respect to the immediately preceding December and the
Finished Goods PPI with respect to the previous December, as published by United States
Department of Labor, Bureau of Labor. “Incentive Fee” shall mean a fee equal to 10% of the
increase, if any, in the current year’s Operating Income (as defined below) over the prior
year’s Operating Income; provided that such fee shall only be payable with respect to years
in which the current year’s Operating Income exceeds the greater of (i) U.S. $105 million or
(ii) the highest Operating Income for any prior year commencing with the calendar year 2005.
The Incentive Fee for any given year shall be capped at 50% of that year’s Fixed Annual
Fee. “Operating Income” shall mean BCNA’s pre-tax earnings before interest income and
expense, before charges associated with the cost allocations from Lafarge and before charges
associated with the Fee as described on Exhibit A. The fixed portion of the Fee
(contemplated by clauses (i) and (ii) above) will be paid in arrears in four equal quarterly
payments, and the Incentive Fee will be paid on an annual basis following finalization of
BCNA’s annual results of operations and in any event, no later than the March 31 of the year
following the year for which the Incentive Fee is being calculated. The Fee shall be
prorated as of the date of termination or expiration of this Agreement.

     The Incentive Fee formula shall be equitably modified based on material changes to
BCNA’s capital base (above U.S. $100,000,000) that would maintain the parties’ respective
economics without disadvantaging any party.

     In the event an agreement is entered into with respect to a direct or indirect sale of
all or substantially all of BCNA or the Assets to any person, entity or group other than LNA
during the Term of this Agreement (in one or more related transactions), as it may be
extended from time to time, Lafarge will pay to LNA a supplemental payment upon consummation
of any such sale (or, if such sale occurs prior to the date that BCNA’s annual results of
operations for the calendar year 2007 have been prepared, promptly upon preparation of such
annual results, and in any event, no later than March 31, 2008), whether or not the
consummation of such sale occurs during the Term, equal to the difference between the
Incentive Fee that would have been payable under the terms of this Agreement with respect to
calendar years 2006 and 2007 calculated using a rate of 25% (without giving effect to any
cap on Incentive Fees) and the Incentive Fee paid or payable with respect to such years
calculated using a rate of 10% (giving effect to the cap). If a substantial portion (but
less than substantially all) of BCNA or its assets is sold, directly or indirectly, to a
person, entity or group other than LNA (in one or more

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related transactions), then the supplemental payment shall be based on a proportionate
share of BCNA’s Operating Income attributable to the assets sold. For purposes of this
Section 2.1(a), “substantial portion” means assets generating 25% of BCNA’s Operating Income
for the most recently completed calendar year.

     For purposes of this Section 2.1(a), “Estimated Incremental Costs” shall equal
$2,149,000 per year, representing the agreed upon estimated annual incremental costs that
will be borne by LNA in connection with the performance of its obligations under this
Agreement.

     (b) In the event Lafarge engages LNA to perform services beyond the ordinary course of
business contemplated by this Agreement, and LNA accepts such engagement, LNA will receive
such additional fees as the parties may agree upon in advance of such engagement.

     Section 2.2. Reimbursement of Expenses. BCNA shall reimburse LNA for any costs or
expenses incurred by LNA in connection with the performance and/or termination of this Agreement,
to the extent such costs or expenses are not included in the compensation arrangements contemplated
by the Fee, including without limitation, operating expenditures such as restructuring charges,
relocation costs, and termination expenses. LNA shall submit to BCNA monthly statements of any
such expense, and promptly provide such further documentation of expenses as BCNA shall reasonably
request. BCNA shall reimburse LNA for such expenses within thirty (30) days of receipt of a
statement. In addition, in the event of the termination of this Agreement, BCNA shall reimburse
LNA for any cost, expense or financial consequence arising from the structural separation of LNA
and BCNA and their respective businesses, including without limitation any cost or expense borne by
LNA in reducing its management structure to manage only its operations.

ARTICLE III

Liability and Indemnification;

Corporate Opportunity

     Section 3.1. Liability.

     (a) Neither LNA, its affiliates, officers, directors, employees or agents, shall be
liable, responsible, or accountable in damages or otherwise to Lafarge or BCNA for any
action taken or failure to act in connection with the operations, business and affairs of
BCNA, the management of the Business and the Assets or the performance by LNA of its duties
and obligations hereunder, unless such act or failure to act was the result of willful
misconduct or gross negligence.

     (b) LNA may consult with and be entitled to rely upon the advice of such legal counsel,
accountants, appraisers, investment bankers, and other consultants and advisers as it deems
necessary or appropriate.

     Section 3.2. Indemnification.

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     (a) Lafarge shall indemnify and hold harmless LNA, its affiliates, officers, directors,
employees and agents (in this Section sometimes individually called an “Indemnitee”) from
all claims, causes of action, judgments, liabilities, damages, charges, fees (including,
without limitation, attorney’s fees) and expenses of any kind arising from the Business, the
Assets, the operations, business and affairs of BCNA or the performance by LNA of its duties
and obligations hereunder; provided, however, that no Indemnitee shall be indemnified by
Lafarge for any acts or omissions by the Indemnitee that constitute willful misconduct or
gross negligence.

     (b) Without limiting subsection (a) above, Lafarge shall pay or reimburse expenses
incurred by an Indemnitee in connection with the Indemnitee’s appearance as a witness or
other participation in a proceeding involving or affecting BCNA at a time when the
Indemnitee is not a named defendant or respondent in the proceeding.

     (c) The indemnification provided by this Section shall be in addition to any other
rights to which each Indemnitee may be entitled, as a matter of law or otherwise, both as to
action in the Indemnitee’s capacity as the manager of the Business and/or the Assets or an
officer, director, employee or agent of LNA or an affiliate thereof or as a person serving
at the request of LNA as set forth above and to action in another capacity, and shall
continue as to an Indemnitee who has ceased to serve in such capacity and shall inure to the
benefit of the heirs, successors, assigns, administrators and personal representatives of
the Indemnitees.

     Section 3.3. Corporate Opportunity. Any corporate opportunities regarding
acquisitions in North America presented by third parties to BCNA (or Lafarge, with respect to BCNA)
and/or LNA during the Term will be first offered to or retained by LNA, which will have the right
to pursue such opportunity to the exclusion of BCNA if so determined by any committee of directors
of LNA who are independent of Lafarge formed to consider, among other things, issues related to
this Agreement (the “Special Committee”). Lafarge and BCNA agree to notify LNA in writing promptly
of any such opportunity and LNA agrees to notify Lafarge and BCNA within thirty (30) days after
receipt of such notice as to whether it intends to pursue such opportunity.

ARTICLE IV

Dispute Resolution Process

     Section 4.1. Dispute Resolution Process. The parties agree to utilize the following
dispute resolution process during the Term:

     (a) The parties subscribe to the principle that the actions taken under this Agreement
should maximize the benefits to both LNA and BCNA and that, to the extent that a certain
action benefits one party to the detriment of the other, compensatory arrangements should be
agreed upon by the parties. The parties agree that this principle is to be judged in its
totality and not on an item-by-item basis.

     (b) Any conflict between benefits to LNA and BCNA that arises and involves matters
exceeding $2.5 million that cannot be resolved by the parties within ten (10)

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business days would be submitted immediately to a resolution committee (the “Resolution
Committee”) consisting of two members of the Special Committee of LNA and two
representatives of Lafarge.

     (c) In the event a conflict cannot be resolved by the Resolution Committee within ten
(10) business days after submission (i.e., a proposed action would be clearly beneficial to
either LNA or BCNA and detrimental to the other, and no adequate compensating actions would
be taken to satisfy the maximization principle referenced in (a) above), then the parties
agree either to refrain from taking the proposed action or resolve the issue as soon as
practicable by mediation or arbitration at the offices of LNA in Herndon, Virginia, with one
arbitrator or mediator appointed by the parties.

     Section 4.2. Reports. Twice per year, LNA will prepare and submit to the Resolution
Committee a report describing all matters occurring during the prior two quarters that could
involve a potential conflict and stating whether the potential conflict has or has not been
resolved by the parties and whether the potential conflict requires the attention of the Resolution
Committee. The parties agree that during the Term, the Board of Directors of LNA shall receive
reports twice per year concerning the performance of the Assets containing the same level of detail
that they now receive concerning the business of LNA

ARTICLE V

Term

     The term of this Agreement (the “Term”) shall commence on January 1, 2006 and terminate on
December 31, 2007 (the “Initial Term”). After the expiration of the Initial Term, this Agreement
will automatically extend for one-year periods; provided that at any time on or after December 31,
2006, BCNA or LNA may give notice of termination of this Agreement by delivering notice to the
other party that this Agreement will terminate one year after such delivery. In no event may a
termination notice be given prior to December 31, 2006. If notice is not delivered on a month-end
date, the termination of this Agreement shall be effective on the first anniversary of the last day
of the month during which such notice was delivered. In the event this Agreement is not renewed,
LNA will provide such assistance during the one-year period prior to expiration of this Agreement
as Lafarge may reasonably request in implementing alternative management arrangements for the
Business.

ARTICLE VI

Relationship of the Parties

     Notwithstanding anything in this Agreement to the contrary, (a) the relationship of LNA to
BCNA and Lafarge shall be and remain that of an independent contractor; (b) neither LNA nor any
officer, director, employee or agent thereof shall be deemed to be an employee of BCNA or Lafarge
by virtue of this Agreement; (c) nothing contained herein shall be deemed or construed to create a
partnership between BCNA or Lafarge on the one hand, and LNA, on the other hand, or to cause any
party hereto to be responsible in any way for the debts or obligations of any other party hereto.

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ARTICLE VII

Representations and Warranties

     Section 7.1. Representations and Warranties of LNA LNA represents, warrants and
covenants to BCNA and Lafarge as follows:

     (a) LNA is a corporation duly organized, validly existing and in good standing under
the laws of the State of Maryland.

     (b) LNA has the requisite power and authority to execute and deliver this Agreement and
to perform its obligations hereunder.

     (c) The execution, delivery and performance by LNA of this Agreement have been duly and
validly authorized, and no other action is required to be taken to authorize such execution,
delivery and performance. The execution, delivery and performance by LNA of this Agreement
are within the powers of LNA and will not be in contravention of or result in any breach or
constitute a default under any applicable law, rule or regulation or any loan, note or other
agreement or instrument to which LNA is a party or by which it or any of its properties are
bound.

     (d) No consent, approval, authorization or order of any court or governmental agency or
authority or of any third party which has not been obtained is required in connection with
the execution, delivery and performance by LNA of this Agreement.

     Section 7.2. Representations and Warranties of BCNA and Lafarge. Each of BCNA and
Lafarge severally represent, warrant and covenant to LNA as follows:

     (a) It is an entity duly organized, validly existing and in good standing under the
laws of the county or state of its formation.

     (b) It has the requisite power and authority to execute and deliver this Agreement and
to perform its respective obligations hereunder.

     (c) The execution, delivery and performance by it of this Agreement have been duly and
validly authorized, and no other action is required to be taken to authorize such execution,
delivery and performance. The execution, delivery and performance by it of this Agreement
are within its powers and will not be in contravention of or result in any breach or
constitute a default under any applicable law, rule or regulation or any loan, note or other
agreement or instrument to which it is a party or by which it or any of is properties are
bound.

     (d) No consent, approval, authorization or order of any court or governmental agency or
authority or of any third party which has not been obtained is required in connection with
the execution, delivery and performance by it of this Agreement.

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ARTICLE VIII

Miscellaneous

     Section 8.1. Notice. All notices, demands, requests or other communications required
or permitted to be given under this Agreement shall be in writing and shall be given either (a) by
hand delivery, (b) by United States mail, certified or registered, return receipt requested,
postage prepaid, (c) by electronic facsimile or (d) by overnight courier service (charges prepaid)
with proof of delivery at the following addresses:

	 	 	 	 	 
	 

	 	To LNA:
	 	12950 Worldgate Drive, Suite 500
	 

	 	 	 	Herndon, Virginia 20170
	 

	 	 	 	Attention: President and Chief Executive Officer
	 

	 	 	 	Fax: 703-796-2218
	 
	 	 	 	 
	 

	 	To BCNA or Lafarge:
	 	61, rue des Belles Feuilles
	 

	 	 	 	75116 Paris
	 

	 	 	 	Attention: Vice Chairman and Chief
Operating Officer
	 

	 	 	 	Fax: 011 33-1-44-34-12-22

     Section 8.2. Expense of Enforcement. If either party brings an action at law or in
equity to enforce or interpret this Agreement, the prevailing party in such action shall be
entitled to recover reasonable attorneys’ fees and disbursements incurred in connection with such
proceeding, including but not limited to arbitration or appellate proceedings, in addition to any
other remedy granted.

     Section 8.3. Entire Agreement; Acknowledgment. This Agreement constitutes the full
and complete agreement of the parties hereto with respect to the subject matter hereof. This
Agreement may be amended only by subsequent written agreement among the parties hereto. Lafarge
hereby acknowledges and approves the covenants and agreements made by BCNA under this Agreement and
agrees to cause the BCNA Board of Directors to take any and all necessary action to carry out the
intent and purposes of this Agreement.

     Section 8.4. Severability. If any provision of this Agreement is held to be
unenforceable, this Agreement shall be considered divisible and such provision shall be deemed
inoperative to the extent it is deemed unenforceable, and in all other respects this Agreement
shall remain in full force and effect; provided, however, that if any such provision may be made
enforceable by limitation thereof, then such provision shall be deemed to be so limited and shall
be enforceable to the maximum extent permitted by applicable law.

     Section 8.5. No Waiver. The failure of any party to insist upon strict performance of
a covenant hereunder or of any obligation hereunder, irrespective of the length of time for which
such failure continues, shall not be a waiver of such party’s right to demand strict compliance in
the future. No consent or waiver, express or implied, to or of any breach or default in the
performance of any obligation hereunder shall constitute a consent or waiver to or of any other
breach or default in the performance of the same or any other obligation hereunder.

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     Section 8.6. Survival of Representations and Warranties. All representations,
warranties and covenants made by the parties hereto in this Agreement or any other document
contemplated hereby shall be considered to have been relied upon by the other parties hereto and
shall survive the execution and delivery of this Agreement, or such other document, regardless of
any investigation made by or on behalf of any such party.

     Section 8.7. Governing Law. This Agreement shall be construed in accordance with and
governed by the internal substantive law of New York. Each party hereto agrees that the United
States District Court for the Southern District of New York shall have non-exclusive jurisdiction
to settle any dispute which may arise in connection with this Agreement and is not resolved
pursuant to the dispute resolution process contemplated by Article IV.

     Section 8.8. Captions, General, Number and Language of Inclusion. The captions are
inserted in this Agreement only for convenience of reference and do not define, limit, or describe
the scope or intent of any provisions of this Agreement. Unless the context clearly requires
otherwise, the singular includes the plural, and vice versa, and the masculine, feminine, and
neuter adjectives include one another. As used in this Agreement, the word “including” shall mean
“including, but not limited to”. All references to “$” or dollar amounts will be to lawful
currency of the United States of America.

     Section 8.9. Further Assurances. From and after the date hereof, the parties hereto
shall execute and deliver, as appropriate, any instruments or documents and take or do, as
appropriate, any other actions and things reasonably necessary to enable LNA to perform fully its
obligations under this Agreement and to otherwise carry out the intention of this Agreement.

     Section 8.10. Successors and Assigns. This Agreement shall be binding upon and inure
to the benefit of the parties hereto and their respective heirs, legal representatives, successors
and assigns; provided, however, that no party hereto may assign, transfer or otherwise dispose of
all or any part of its rights, duties or obligations hereunder without the written consent of the
other parties.

     Section 8.11. No Third Party Beneficiaries. Nothing in this Agreement, either express
or implied, is intended to or shall confer upon any person other than the parties hereto, and their
respective successors and permitted assigns, any rights, benefits or remedies of any nature
whatsoever under or by reason of this Agreement.

     Section 8.12. Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall be an original and all of which shall constitute but one and the
same document.

     Section 8.13. Supplemental Agreement Regarding Employees and Employee Benefits.. The
Supplemental Agreement Regarding Employees and Employee Benefits, dated as of December 21, 2001
(the “Supplemental Agreement”), which supplemented the Old Management Agreement, shall be deemed to
supplement and to be a part of this Agreement; provided, that (i) the definition of “Termination
Date” in Section 1.2 of the Supplemental Agreement shall be deemed the date of termination of this
Agreement and (ii) all references in the Supplemental Agreement to LNA’s exercise of the Option (as
defined therein) shall be deemed to be references to LNA’s purchase of the Assets (as defined
herein).

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     IN WITNESS WHEREOF, the parties have executed this Agreement, effective as of January 1, 2006,
as of the day and year specified below.

	 	 	 	 	 
	 	 	LAFARGE NORTH AMERICA INC.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Philippe R. Rollier
	 

	 	 	 	 
	 

	 	 	 	Philippe R. Rollier
	 

	 	 	 	Chief Executive Officer
	 

	 	 	 	Date: September 29, 2005
	 
	 	 	 	 
	 	 	LAFARGE S.A.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Jean-Jacques Gauthier
	 

	 	 	 	 
	 

	 	 	 	Jean-Jacques Gauthier
	 

	 	 	 	Chief Financial Officer
	 

	 	 	 	Date: September 29, 2005
	 
	 	 	 	 
	 	 	BLUE CIRCLE NORTH AMERICA
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Eric C. Olsen
	 

	 	 	 	 
	 

	 	 	 	Eric C. Olsen
	 

	 	 	 	Chief Financial Officer
	 

	 	 	 	Date: September 29, 2005

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                                                                    EXHIBIT 10.1

                     PERSONALIZED RELOCATION TERMS DOCUMENT
                                ANDREW GISSINGER

Countrywide will cover the following expenses in connection with your relocation
from POWAY, CALIFORNIA to Hidden Hills, CALIFORNIA, according to your specified
allowance stipulated by this Agreement:

The Parties realize all items stated herein may not cover actual costs of this
relocation. However, it is the intent of the Parties and of this Agreement to
cover reasonable out of pocket expenses for moving, interim housing and real
estate closing costs related to Gissinger's relocation. It is acknowledged
Gissinger is building a new home in Hidden Hills, CA and shall move on
completion of new said residence. The effective start date for this Agreement
shall be 3/1/04. Eligible expenses covered may start 60 days prior to the
effective date.

Relocation must be completed within 12 months from the effective date of this
Agreement. If additional time is needed it should be brought to the manager's
attention for further discussion and approval, such approval shall not be
unreasonably withheld.

      1.    Duplicate housing costs will be reimbursed for a maximum of 2
            months. Appropriate duplicate housing costs include mortgage
            principal, interest, utilities, home owner association dues and
            monthly insurance costs. Countrywide will reimburse the costs of the
            Poway, CA home.

      2.    Countrywide Home Loans will purchase your Poway home. To determine
            the purchase price Gissinger will choose and request a Poway Realtor
            to provide a list of 5 local appraisers to Management for approval.
            Management will select two appraisers from the list. The appraisals
            will be based on standard appraisal practices with the resulting
            values to be with no more than a 5% variance between values. If the
            appraised values are greater than 5%, the employee will select a
            third appraiser from the original list and the value of the home
            will be determined by the average of the two closest values. The
            appraisal process will be finished within 60 days of the effective
            date. The guaranteed buyout will occur at the time that the employee
            has finalized his new home construction or within 1 year from
            Management's receipt of Poway appraisal(s). Countrywide will also
            reimburse the normal buyers closing costs and mortgage fees as
            required.

      3.    Countrywide will arrange for the shipment of your household goods
            using the Executive "White Glove" Service program provided by the
            vendors we have under contract. Moving expenses shall include
            packing, moving, unpacking and insurance for your normal household
            goods. Countrywide has contractual relationships with several moving
            companies. Moving arrangements should be made through the
            Countrywide Relocation Department with one of our designated moving
            vendors, based on the estimated charges. Countrywide will pay the
            moving vendor directly for all undisputed charges that are within
            the terms of this offer.

            -     Countrywide complies with federal Treasury regulations
                  regarding reimbursement of relocation expenses. Such
                  regulations include treating reimbursement of certain items as
                  taxable income, and withholding taxes from reimbursements to
                  the employee and from payments to third parties. Countrywide
                  will tax equalize payments for duplicate housing costs only to
                  eliminate the tax burden to you. A marginal tax rate of 48%
                  will be used to determine the correct gross up rate for this
                  benefit.

                                        1
<PAGE>

                     PERSONALIZED RELOCATION TERMS DOCUMENT
                                ANDREW GISSINGER

            -     Relocation expenses may have other tax implications, depending
                  on laws governing their treatment at your state of origin
                  and/or destination. Employees should consult their accountants
                  for information on the tax implications of their relocation
                  expense reimbursements.

            -     Moving of household goods will be billed to Countrywide and is
                  not included as taxable or non-taxable income on your W-2.

ALL DOLLAR AMOUNTS REFLECT THE MAXIMUM REIMBURSABLE OR DIRECT EXPENSE ALLOWABLE
UNDER THIS AGREEMENT. All reimbursable expenses must be substantiated by
original receipts and documented on a relocation expense report through HR Cafe,
An account will be set up on the effective date of this Agreement. Expenses must
be submitted within 60 days of incurring the expense. You are not entitled to
any money for expenses not actually incurred but you may use excess allowance in
one category to cover expenses in another.

This program is offered at the sole discretion of Countrywide. REIMBURSEMENT OF
RELOCATION EXPENSES DOES NOT CONSTITUTE A GUARANTEE OF CONTINUED EMPLOYMENT WITH
COUNTRYWIDE. If you voluntarily terminate employment with Countrywide within six
months of your reimbursement you will be required to repay 100% of all
reimbursed expenses. If you voluntarily terminate employment after six months
but before one year after your reimbursement, you will be required to repay 50%
of all reimbursed expenses. If your employment is terminated for cause,
including violations of the law or corporate policy, willful misconduct or gross
negligence, you will be bound by the same repayment provisions as for voluntary
termination. Employees terminated due to lay-off for economic reasons will not
be required to repay the relocation reimbursements. Your signature on this offer
letter constitutes your agreement to this repayment provision.

Reimbursement of real estate transaction costs requires that employees apply for
a mortgage loan with Countrywide for the purchase of a residence.

You will not be reimbursed for any expenses in association with your relocation
until we receive this signed document.

  Andrew Gissinger, III                                           1/29/2004
--------------------------------                               ----------------
Employee Name (Please print)                                   Date

  /s/ Andrew Gissinger, III
--------------------------------
Employee Signature

  /s/ Carlos Garcia                                                1/29/2004
--------------------------------                               ----------------
Carlos Garcia (Signature)                                      Date

                                        2

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