Document:

EX-10.4

 Exhibit 10.4 
  

EXECUTIVE COMPENSATION AGREEMENT 

This Executive Compensation Agreement (this “Agreement”) is entered into effective as of January 1, 2019 (the
“Effective Date”), by and between Guild Mortgage Company, a California corporation (“Guild”), and Terry Schmidt (“Schmidt”), as follows: 

1.    Term. The term of this Agreement shall commence on the Effective Date, and continue until the
first anniversary of the Effective Date (the “Term”). Upon the expiration of the Term, this Agreement shall automatically renew on the same basis as set forth in this Agreement for consecutive 1 year terms, unless Schmidt and Guild
(a) mutually agree, in writing, to terminate this Agreement; (b) enter into a later Executive Compensation Agreement; or (c) Schmidt’s employment with Guild is terminated by Guild or Schmidt pursuant to the terms of this
Agreement. 
 2.    Base Salary. During the Term, Guild shall pay to Schmidt an annual base
salary of $425,000 (the “Base Salary”). The Base Salary shall be paid at least monthly at such times and in such manner as is consistent with Guild’s regular payroll practices and polices. Guild shall deduct and withhold all necessary
Social Security and withholding taxes and any other similar amounts required by law from any compensation paid to Schmidt. 

3.    Annual Bonus. In addition to the Base Salary, Schmidt will be eligible for an annual bonus
equal to 36.7% of the Incentive Pool (as defined in Exhibit A attached hereto) (“the Bonus”). The Incentive Pool is based on Guild’s annual return on average equity (“ROAE” determined as described in Exhibit A). The Bonus
shall be cumulative and determined on an annual basis and paid within 30 days of the end of the Term. 

4.    Termination. If Schmidt’s at-will employment
with Guild is terminated by Guild during the Term, whether voluntarily or involuntarily, Guild shall pay to Schmidt the Base Salary payable to Schmidt up to and including the last day of Schmidt’s employment. In addition, Guild shall calculate
and pay the Bonus to Schmidt within 30 days after the end of the Term. For purposes of this Section 4, the Bonus will be calculated pro rata as of the last day of Schmidt’s employment by (a) multiplying the Bonus to which she would
have been entitled as of the last day of the Term, if then employed, by the percentage of the calendar year that elapsed prior to the date of her termination, and (b) then subtracting from the amount determined pursuant to Section 4(a) any
quarterly draws paid prior to termination in accordance with Section 3. 
 5.    Release of
Claims. In addition to the payments described in Paragraph 4, if Schmidt’s at-will employment with Guild is terminated by Guild during the Term, with or without cause, or if ill health permanently
prevents her from performing all her responsibilities as Chief Financial Officer, upon receipt of an executed waiver and release (in a form acceptable to Guild) of all claims which Schmidt may then or in the future have against Guild or any of its
shareholders, directors, officers or employees, Guild shall pay to Schmidt $425,000, in 24 monthly installments of $17,708.33 beginning 30 days after the last day of Schmidt’s employment with Guild. 

6.    Nonsolicitation. In the event of the early termination of this Agreement by Schmidt or Guild
or expiration of the Term, Schmidt shall not directly or indirectly, for a period of 1 year following the date of Schmidt’s termination, employ or solicit for employment any individual (including any branch manager or loan officer) who is, has
agreed to be, or within 1 year of such employment or solicitation has been employed by Guild or any of its affiliates. 

 7.    Miscellaneous. This Agreement (including
Exhibit A attached to this Agreement) comprises the entire agreement between Schmidt and Guild relating to the subject matter hereof, and shall supersede all other written and oral understandings or agreements relating to the subject matter hereof,
including, but not limited to, all prior Executive Compensation Agreements by and between Guild and Schmidt. This Agreement and the rights, interest and obligations of Guild hereunder shall be assignable to and shall inure to the benefit of any
assignee of Guild. This Agreement is not assignable by Schmidt. Guild and Schmidt have each participated in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement
shall be construed as if drafted jointly by Guild and Schmidt and no presumption or burden of proof shall arise favoring or disfavoring Guild or Schmidt by virtue of the authorship of any of the provisions of this Agreement. This Agreement shall be
governed by, construed, and enforced in accordance with the laws of the State of California. Guild and Schmidt agree that any action by either party to enforce the terms of this Agreement shall be exclusively brought by the other party an
appropriate state or federal court in San Diego County, California and waives all objections based upon lack of jurisdiction or improper or inconvenient venue of any such court. Guild and Schmidt intend and agree that if a court of competent
jurisdiction determines that the scope of any provision of this Agreement is too broad to be enforced as written, the court should reform such provisions to such narrower scope as it determines to be enforceable. Guild and Schmidt further agree that
if any provision of this Agreement is determined to be unenforceable for any reason, and such provision cannot be reformed by the court as anticipated above, such provision shall be deemed separate and severable and the unenforceability of any such
provisions shall not invalidate or render unenforceable any of the remaining provisions hereof. 
  

							
	 GUILD MORTGAGE COMPANY,

a California corporation
	 		 	
				
	 By:
	 	 /s/ Mary Ann McGarry
	 		 	 /s/ Terry Schmidt

		 	 Mary Ann McGarry, CEO
	 	
                   
   
	 	 Terry Schmidt

  
 2 

 EXHIBIT A 

1.     “Pre-Tax Profit” shall be defined as the pre-tax profit and loss set forth on Guild’s monthly Value Added P&L Recap with an adjustment to add back any book entry to recapture or impairment of servicing rights. 

2.     “Partner Group” shall include: Mary Ann McGarry, Terry Schmidt, Cathy Blocker, Mike Rish
and Linda Scott. 
 3.     “ROAE” shall be defined as (a) the Pre-Tax Profit during the applicable calendar year during the Term, divided by (b) the average of the book value of Guild as reflected on Guild’s balance sheet as of the last day of each calendar quarter
during such calendar year. 
 4.     “Incentive Pool” shall be calculated in tiers based on
ROAE as follows: 
  

					
	 Tier
	 	 ROAE
	 	
Incentive Pool

	 0
	 	 Less than
15.00%
	 	
$750,000

	 1
	 	 15.00% -
19.99%
	 	
$875,000

	 2
	 	 20.00% -
24.99%
	 	
$1,750,000

	 3
	 	 25.00% -
29.99%
	 	
$2,625,000

	 4
	 	 30.00%
	 	
$3,500,000

	 5
	 	 Greater than
30.00%
	 	
$3,500,000 plus an additional amount to be mutually determined by Guild’s Chief Executive Officer and Chairman of the
Board

 The Incentive Pool will then be distributed among the Partner Group based on a
predetermined allocation, in accordance with the Executive Compensation Agreements of the Partner Group; provided, however, in the event the Incentive Pool is based on Tier 0, the Incentive Pool shall be allocated based on each member of the Parmer
Group’s individual performance, as determined in the sole discretion of the Chief Executive Officer, rather man the predetermined allocations. For tiers 1--5,
Schmidt’s percentage shall be calculated on 36.7% of the Incentive Pool. 
 5. For purposes of illustration only and
not as any guaranty, Schmidt has the potential of earning the following compensation during the initial calendar year of the Term: 

Example 1: 

							
	 Pre-Tax Profit:
	  	$99,718,492	  		  	
	 3/31/19 Book Value:
	  	$454,384,973	  		  	
	 6/30/19 Book Value:
	  	$477,805,502	  		  	
	 9/30/19 Book Value:
	  	$496,740,705	  		  	
	 12/31/19 Book Value:
	  	$509,123,548	  		  	
	 ROAE:
	  	21%	  		  	
	 Incentive Pool:
	  	$1,750,000	  		  	
			
	 Salary
	  		  	$425,000
	 Annual bonus (based on 36.7% of Incentive Pool)
	  		  	$642,359    
	 Total
	  		  		  	$1,067,359

  
 3 

 Example 2: 

							
	 Pre-Tax Profit:
	  	$125,000,000	  		  	
	 3/31/19 Book Value:
	  	$454,384,973	  		  	
	 6/30/19 Book Value:
	  	$477,805,502	  		  	
	 9/30/19 Book Value:
	  	$496,740,705	  		  	
	 12/31/19 Book Value:
	  	$509,123,548	  		  	
	 ROAE:
	  	25.80%	  		  	
	 Incentive Pool:
	  	$2,625,000	  		  	
			
	 Salary
	  		  	$425,000
	 Annual bonus (based on 36.7% of Incentive Pool)
	  		  	$963,538    
	 Total
	  		  	$1,388,538

  
 4EX-10.5

 Exhibit 10.5 
 

 
 GUILD MORTGAGE COMPANY’S 

EMPLOYMENT AGREEMENT 
 This EMPLOYMENT AGREEMENT
(“Agreement”), dated as of January 1, 2016 (“Effective Date”), between Guild Mortgage Company (“Company”) and Barry Horn (“Employee”) (collectively, the “Parties”).

 WHEREAS, the Parties desire that Employee work in the employment of Company as the Executive Vice President of National Production of the
Company’s retail branch offices; and 
 WHEREAS, the Parties desire to set forth their agreement with respect to such employment in this
Agreement; this agreement supersedes and replaces any prior statement or agreement with respect to Employee’s employment and compensation; 
 NOW,
THEREFORE, in consideration of the promises and mutual covenants set forth herein, the consideration for which receipt and sufficiency are hereby acknowledged, the Parties agree as follows: 

ARTICLE 1 – EMPLOYMENT DUTIES 
  

	1.1	 Commencement. On the terms set forth herein, Company employs Employee, and Employee agrees to be employed by
Company as provided for herein. 

  

	1.2	 General Duties. 

  

	 	(a)	 Employee shall assist Company in the management of and supervise the business operations of the Retail Branches. In
this regard, Employee’s managerial functions (collectively “Managerial Duties”) shall include without limitation: 

  

	 	(i)	 Supervising at least two (2) full time employees; 

 

	 	(ii)	 Developing and maintaining an attitude of teamwork, establish a culture consistent with Company’s corporate
mission statements, and ensuring employees abide by Company Policies (as defined below); 

  

	 	(iii)	 Reviewing revenue, expenses, commission, and other financial worksheets and materials related to the activities in the
Retail Production, remaining cognizant of their contents, modifying Retail Production efforts to keep results in line with expectations, and preparing and submitting periodic production projections and other reports in accordance with Company
Policies and Company’s expectations; 

  

	 	(iv)	 Developing and maintaining a network of relationships with existing and prospective clients, promoting the image and
reputation of Company as creative, dynamic and competitive, expanding Company’s market share through the promotion of Company’s business and sales, and actively holding, and ensuring attendance by Retail Production employees, sales
meetings, training seminars, and other events; 

  

	 	(v)	 Approving a budget for the Retail Production branch offices and for the fiscal supervision thereof, as prepared by the
Branch Managers, and subject to approval by the Company’s Chief Financial Officer; 

  

	 	(vi)	 Assist Company’s management in the development of a successful group of branch offices in the Retail Production;
and 

  

	 	(vii)	 Assist and cooperate with Company in responding to investor inquiries related to loans originated in the Retail
Production (e.g., documentation of deficiencies, repurchases, etc.). 

  

	 	(b)	 Employee shall also perform any other or additional duties that are assigned by Company from time to time or that are
contained in this Agreement or in the manuals, guidelines, memoranda, e-mails and other materials that set forth the Company’s policies and procedures (“Company Policies”).

  

	 	(c)	 Employee shall remain subject to the direction and oversight of the Company’s board of directors, CEO and
President and shall report directly to Mary Ann McGarry, CEO and President (such person, as well as the Company’s board of directors, shall be referred to herein, collectively and individually, as the “Supervisory Personnel”.

  

	1.3	 Duty to Comply with Company Policies. Employee shall comply with all duties and requirements imposed on
Employee, as a regional manager and employee, as set forth in the Company Policies, and shall cause all employees of Company who are assigned to work at the Retail Production branch offices (the “Production Employees”) to comply with the
Company Policies. The Company Policies are effective as of the date of 

  
 Page 1 of 6 

	 	 issuance, unless otherwise specified. Company may modify the Company Policies at any time in its sole discretion.

  

	1.4	 Duty of Loyalty. Employee shall devote appropriate time and attention to his/her activities for and on behalf of
Company. Employee shall assist and work for only the Company and no other employer, lender, broker or other entity, and shall not engage in any way in any mortgage lending or brokering, loan processing or underwriting services, loan modification
services, real estate sales or acquisition, closing, settlement or title-related services, credit repair, credit counseling, borrower assistance or other business or service of the same or similar nature. Additionally, Employee may not own an
interest in any entity engaging in any such activities, other than a passive investment of less than one percent (1%), without the prior written consent of Company. 

 

	1.5	 Regulatory Compliance. Employee is familiar with and shall comply, and cause the Production Employees to comply,
with the Company Policies and all applicable federal, state and local laws, ordinances, rules, regulations, guidelines and other requirements pertaining to the mortgage banking industry, to the business of Company, and to the origination,
processing, underwriting, closing, or funding of mortgages, or other activities of the Company, including but not limited to the Equal Credit Opportunity Act,
Gramm-Leach-Billey Act, Truth in Lending Act, Real Estate Settlement Procedures Act, USA PATRIOT Act, Home Mortgage Disclosure Act, Federal Trade Commission Act,
Telemarketing and Consumer Fraud and Abuse Prevention Act, Fair Credit Reporting Act, Fair Housing Act, Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (the “SAFE Act”), Dodd-Frank Wall Street reform and Consumer Protection
Act and all related regulations to the foregoing Acts, and all similar federal, state and local laws, rules, regulations and requirements, federal and state telemarketing and
do-not-call laws, rules and regulations, and all applicable guidelines and requirements of the United States Department of Housing and Urban Development
(“HUD”), Department of Veterans Affairs (“VA”), Federal Home Loan Mortgage Corporation (“FHLMC” or “Freddie Mac”), Federal National Mortgage Association (“FNMA” or “Fannie Mae”), Government
National Mortgage Association (‘GNMA” or “Ginnie Mae”), United States Department of Agriculture (“USDA”) and all other applicable agencies, investors and insurers (altogether, the Company Policies and all such
applicable laws, rules, regulations, guidelines and other requirements are referred to herein as the “Applicable Requirements”), in each case as amended from time to time. Employee agrees to develop and maintain his/her knowledge and
understanding of all such Applicable Requirements. For purposes of emphasis, and without limitation of the foregoing, for the entire terms of this Agreement, Employee shall: 

 

	 	(a)	 Not charge, nor allow any Production Employee to charge, any consumer any fees in excess of that permitted under
Applicable Requirements; 

  

	 	(b)	 Ensure compliance with all applicable (i) federal licensing and registration requirements, including without
limitation those pursuant to the SAFE Act, (ii) state licensing and registration requirements of each state where Employee or any Production Employee engages in loan origination activities, and (iii) the registration and compliance
requirements of the Nationwide Mortgage Licensing System Registry (“NMLSR”), for all Production Employees; and 

  

	 	(c)	 Comply with the provisions of the final rule revising Regulation Z to add provisions on loan originator compensation
and steering, published by Federal Reserve Board on September 24, 2010 (75 Fed. Reg. 58509), as it may be amended from time to time. 

  

	1.6	 Certain Restrictions and Requirements. 

 

	 	(a)	 Except as expressly provided herein, Employee will not, and shall have no authority to (and will not permit the
Production Employees to): 

  

	 	(i)	 Enter into, act on behalf of, or bind Company with respect to any contract, commitment or agreement, unless Employee
has first been expressly authorized in writing by any of the Supervisory Personnel. 

  

	 	(ii)	 Control the underwriting process. 

 

	 	(iii)	 Close or arrange for the closing of any loan in the name of any person or entity other than Company, unless authorized
in advance by any of the Supervisory Personnel. 

  

	 	(iv)	 Use any name, trade name, trade mark, service mark or logo of Company or an affiliate of Company for advertising,
marketing or other business purposes without the prior written approval of any of the Supervisory Personnel. 

  

	 	(v)	 Incur any expenses or obligations on behalf of Company unless permitted in the Company Policies or unless any of the
Supervisory Personnel provides its prior written approval. Employee shall promptly submit invoices and other supporting documentation for reimbursement of permitted expenses in accordance with the Company Policies. 

 

	 	(vi)	 Undertake or implement any business development plans or activities, without the prior approval of any of the
Supervisory Personnel. 

  
 Page 2 of 6 

	 	(vii)	 Use any forms or documents in connection with any application or origination of any loan, other than those forms and
documents provided to the Branch by Company or otherwise approved by Company. If Employee or a Production Employee desires to use any form or document not provided by Company, Employee must first submit the item to Company for approval.

  

	 	(viii)	 Use any Company e-mail addresses or technology, other than for the performance
of Employee’s and the Production Employees’ respective duties on behalf of Company. Notwithstanding the foregoing, Employee is permitted to make limited use of Company e-mail addresses and technology
for purposes other than the performance of Employee’s duties on behalf of Company, provided such use is reasonable and in compliance with applicable federal, state and local law. 

 

	 	(b)	 Employee shall cause all underwriting for the Retail Production’s branch offices shall be performed in accordance
with the procedures and standards imposed by Company or provided in the Company Policies. All underwriters must be qualified and experienced underwriters, as determined by Company, and shall be under the supervision of and report to Company’s
Corporate Underwriting Supervisor. Delegation of underwriting authority will be based on performance and at the sole discretion of any of the Supervisory Personnel. 

 

	 	(c)	 Employee shall not cause the Company or any branch office of the Company to incur any expenses in the excess of $15,000
or outside the ordinary course of business without the prior written consent of any of the Supervisory Personnel. 

  

	1.7	 Remittance of Funds. Employee shall cause fees, charges, funds, and other amounts received by Employee, by any
Production Employee or by the Region’s branch offices to be remitted to the applicable office of Company in accordance with Company Policies. 

  

	1.8	 Certain Employee Representations. Without limiting any obligations of Employee, Employee hereby represents and
warrants to Company at all times during employment as follows: 

  

	 	(a)	 Employee’s employment with Company will not violate or conflict with any obligations Employee owes to any
individual or entity, including without limitation, obligations arising out of or relating to (i) any non-compete, non-disclosure,
non-solicitation or confidentiality agreements or provisions, and (ii) any prior employer or employment. 

  

	 	(b)	 Employee knows of no reason why Employee could not or should not accept an offer of employment from Company, or
otherwise be employed by Company. Employee has not been subject to any investigation or sanction of any type, or denied any license or approval, by any federal, state or local government, quasi-government and private industry authority, including
but not limited to any licensing authority. 

  

	1.9	 Committing Rates and Pricing. Employee shall manage the Region and impose procedures necessary to ensure that
loans are consistently locked in accordance with Company Policies and locked with Company’s secondary marketing department with the same program, rate and price that were committed to the customer. 

 

	1.10	 Truthfulness. At all times during the term of this Agreement, Employee agrees not to withhold or misrepresent
material facts with regard to an applicant’s income, assets, investments, debts, obligations, circumstances and information on the subject property. It is Employee’s obligation and responsibility to disclose any and all information
regarding an applicant’s state of affairs that would customarily be taken into consideration in the evaluation of an applicant’s creditworthiness. At no time will Employee advise an applicant to provide, or assist an applicant in
providing, inaccurate information in relation to a loan application. 

  

	1.11	 Forwarding Notices. Within three (3) days of the receipt thereof, Employee shall forward to Company’s
principal office, marked to the attention of Chief Compliance Officer, all notices received by Employee or any Production Employee related to any compliance, legal, regulatory matters, including but not limited to notices from any regulatory
agencies, legal summons, garnishments, attachments, executions, noticed of intended legal or administrative action, and any other notices which may require a response by Company. 

ARTICLE II – EMPLOYEES 
  

	2.1.	 Production Employees. Company shall be entitled to conduct interviews and background checks on all Production
Employees prior to their hire date by Company, in the same manner as Company might or could do in making any other employee hiring decision generally. All Production Employees will be hired as new employees of Company, and Company shall have no
liability or responsibility for any obligation or liability related to any period of time prior to the time of such hiring. While Company will consider Employee recommendations regarding hiring, discipline and termination, all decisions to hire,
terminate and discipline employees shall be made solely by Company and are solely within Company’s discretion. Employee shall, and shall cause Production Employees to, participate in training sessions as required by Company from time to time.

  
 Page 3 of 6 

 ARTICLE III – TERM AND TERMINATION 

 

	3.1	 At-Will Employment. Notwithstanding anything to the contrary herein:
(a) the Parties hereby agree and acknowledge that the employment relationship between them is wholly an “at-will” relationship, and neither Party shall have any obligation (whether arising by
law, implication, custom or otherwise) to extend, maintain or continue Employee’s employment with Company; (b) Employee’s employment can be terminated at will, with or without cause, and with or without reason, at any time, upon
notice; (c) no employee or representative of Company has the authority to modify this at will nature of the employment except for the President of Company, and any such modification must be in a specific written agreement signed by both
Employee and Company by its President. 

  

	3.2	 Termination upon Death or Disability. If employee dies while employed hereunder, Employee’s employment and
Employee’s rights to compensation hereunder shall automatically terminate (without notice) at the close of business on the date on which death occurs. Company shall pay Employee any compensation earned by Employee as of the date of such
termination in accordance with the normal payroll practices of Company or as otherwise required under applicable law. 

  

	3.3	 Company Property. All loans initiated and handled by Employee while employed by Company, and all related
information, shall at all times remain the sole and exclusive property of Company. Employee agrees to promptly return to Company immediately upon request, at any time, and upon termination of employment, all Company property, including office keys,
access cards, any electronic communications equipment issued by the Company, documents, files, correspondence and notes, containing or relating to Confidential Materials (defined below), and including but not limited to information obtained from the
customers and prospective customers contacted by Employee, and the loans handled by Employee, while employed by Company, without keeping any copies. Employee shall assist Company in securing all original loan files and copies thereof, as requested
by Company. 

 ARTICLE IV – COMPENSATION AND BENEFITS 
  

	4.1.	 Compensation. At all times during Employee’s employment, as full compensation, Company hereby agrees to pay
Employee as set forth below and in the commission schedule attached hereto as Exhibit A. The Company at all times shall have the right to modify the applicable compensation formula on a prospective basis upon notice to Employee.
Compensation shall be paid to Employee at such times and in a manner consistent with Company Policies as may be in effect from time to time. 

  

	4.2.	 Benefits. While employed by Company, Employee shall be entitled to the rights and benefits under any employee
benefit plans provided by Company to similarly situated employees. 

  

	4.3.	 Compensation at End of Employment. Upon cessation of Employee’s employment, for any reason, Employee shall
be paid any compensation earned up to and including the date employment ends. Except as otherwise expressly provided herein, or required by applicable law, Employee shall not be entitled to any further compensation, including (but not limited to)
draws, benefits, fringe benefits, commissions, or bonuses, as applicable. 

  

	4.4.	 Sole Compensation. Other than as provided for in this Article IV, Employee shall not be entitled to any
other compensation or benefits. 

 ARTICLE V – MISCELLANEOUS PROVISIONS 

 

	5.1	 Severability. The invalidity or unenforceability of any term or provision contained in this Agreement shall not
void or impair the remaining provisions hereof, which shall remain in full force and effect as if such invalid or unenforceable provision had never been contained herein. 

 

	5.2	 Modifications, Alterations and Amendments. Company reserves the right to modify, alter or amend this Agreement
prospectively upon written notice to Employee. Such modifications shall not affect commissions earned but not paid. Employee’s continued employment after written notice of the modification, alteration or amendment shall constitute
Employee’s acceptance of the modification, alteration or amendment. No modification, alteration or amendment of Employee’s at-will status is effective, however, unless it is in writing and signed by
Employee and an officer of Company. 

  

	5.3	 Further Assurances. Employee agrees to execute, acknowledge and deliver or cause to be executed, acknowledged
and delivered all such further documents that Company reasonably deems necessary or appropriate to carry out the terms and provisions of this Agreement. 

  

	5.4	 No Waiver. No waiver by Company of any condition, or the breach of any term, covenant, representation or
warranty contained herein, whether by conduct or otherwise, by Employee in any one or more instances shall be deemed or construed as a further or continuing waiver of any such term, condition, representation or warranty set forth in the Agreement.
Any waiver must be in writing in order to be enforceable against Company. 

  
 Page 4 of 6 

	5.5	 Successors and Assigns . Company may assign its rights and duties hereunder provided that the assignee is the
successor, by operation of law or otherwise, to the business of Company. Employee’s rights and obligations under this Agreement shall not be assignable absent Company’s prior written consent, which Company may withhold in its sole and
absolute discretion. 

  

	5.6	 Survival. Notwithstanding anything herein to the contrary, Section 1.7, 3.3, 4.3, and 4.4, and Article
VI shall survive termination of this Agreement and/or termination or resignation of Employee’s employment with Company. 

  

	5.7	 Notice. Any and all notices, demands or requests required or permitted to be given under this Agreement shall be
given in writing and sent, by registered or certified U.S. mail, return receipt requested, by hand, or by overnight courier, addressed to the other Party hereto at its address set forth below, or such other address as such Party may from time-to-time designate by written notice, given in accordance with the terms of this Section. 

If to Company: 
 Guild
Mortgage Company 
 5898 Copley Drive, 4th Floor 

San Diego, CA 92111 

If to Employee, to the address provided in connection with the signature line below or to the most current address on file in Company
records. 
 Notice shall be deemed effective: (a) on the date hand delivered, (b) on the first business day following the
sending thereof by overnight courier, and (c) on the fifth calendar day (or, if it is not a business day, then the next succeeding business day thereafter) after the depositing thereof into the exclusive custody of the U.S. Postal Service,
except for a notice of change of address, which shall be deemed effective only upon receipt. 
  

	5.8	 Construction. In the event of an ambiguity or if a question of intent or interpretation arises, this Agreement
shall be construed as if drafted jointly by the Parties and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any of the provisions of this Agreement. The Section headings contained in
this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 

  

	5.9	 No Third-Party Beneficiaries. This Agreement is not intended, and shall not be deemed, to confer upon or give
rights to any person except as otherwise expressly provided herein. 

  

	5.10	 Counterparts. This Agreement may be executed in any number of counterparts, and each such counterpart shall be
deemed an original instrument. 

  

	5.11	 Entire Agreement. This Agreement sets forth all the promises, covenants, agreements and conditions between the
Parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings, inducements or conditions, expressed or implied, oral, written or otherwise, except as set forth herein.

  

	5.12	 Cooperation. At all times during and after separation of employment, the Parties hereto shall cooperate in
effecting an orderly transition of the business contemplated by this Agreement to avoid any interruption in the handling of the business contemplated by this Agreement. 

 

	5.13	 Consultation. Employee agrees and acknowledges that, prior to signing, Company has granted Employee sufficient
time to review the Agreement, including allowing Employee (in Employee’s sole discretion) to take the Agreement home for further study and review. Employee further understands that the terms and conditions of this Agreement may be negotiated.
Company has encouraged Employee to freely discuss the terms of this Agreement with others, including any lawyer of Employee’s choosing, prior to signing. 

 

	5.14	 No Reliance. Employee is not resigning Employee’s employment or relocating a residence in reliance on any
promise or representation by Company regarding any guaranteed length of employment or guaranteed compensation by Company. 

  

	5.15	 Withholding. Employee acknowledges that all compensation earned under this Agreement shall be subject to
applicable withholding and deductions. 

  

	5.16	 Incorporation. The attachments identified in this Agreement constitute a part of this Agreement and are hereby
expressly and specifically incorporated herein by reference in their entirety as if fully set forth in this Agreement. Employee is also required acknowledge and understand the terms described in Exhibit B to this Agreement entitled “Employee
Confidentiality and Restrictive Covenant Agreement”. 

  
 Page 5 of 6 

 IN WITNESS WHEREOF, the Parties hereto have caused their names to be hereunto
subscribed, all as of the day and year first above written. 
  

					
		  	 DocuSigned by:
	  	
	     Barry Horn
	  	 /s/ Barry Horn
	  	 6/21/2016

	 Employee Name
	  	 Employee Signature
	  	      Date

			
		  	 DocuSigned by:
	  	
	     Mary Ann McGarry
	  	 /s/ Mary Ann McGarry
	  	 5/4/2016

	 Manager Name
	  	 Manager Signature
	  	      Date

  
 Page 6 of 6 

 

 
 EXHIBIT A 

EXECUTIVE EMPLOYEE COMPENSATION 

Employee’s compensation shall be determined and calculated in accordance with this Exhibit A. Notwithstanding anything to the contrary
herein, the timing of payments of compensation shall at all times be subject to Company’s Policies regarding payroll practices in effect from time to time, and Company may, in its sole and absolute discretion, change the commission amounts and
formulas set forth in this Exhibit A, and the manner and schedule of payment, at any time, but no such change will affect any compensation already earned by Employee as of the date the change is announced. 

 

	I.	 Base Salary. For each pay period, Employee shall earn compensation equal a Base Salary. 

 

	 	A.	 Base Salary. “Base Salary” means $31,250.00 a month, but under no circumstances in an amount less
than equal to the minimum amount per workweek required by applicable local, state and federal law, which is paid in accordance with applicable Company Policies. 

 

	II.	 Volume Override. Employee is eligible to receive a Volume Override calculated on all retail production. All
calculations shall be made by the Company and shall be final and binding, absent manifest error. 

 0.6 basis
point on all In-House Loan closings 
 The Volume Override will be earned and paid out on
the last payroll of the following month, in accordance with Company payroll practices in effect, as may be revised from time to time. For example, January override based on all In-House Loans closed in January
will be considered earned and paid at the end of February. A Volume Override is not calculable until it is earned. 
  

	III.	 Quarterly Bonus. Employee is eligible to receive a Quarterly Bonus per the Regional Contribution Report as
prepared by the Company’s Finance Department. 

 0.95% of total Region Contribution
less acquisition earn-out payments. 
 Regional Contribution is
defined as the total of Region Income, Marketing Income and Operation Center Contributions minus Region Expense and the Corporate Costs. 

The Quarterly Bonus calculation is based on the income and expense achieved for the calendar year and is calculated on a year-to-date cumulative basis. This bonus shall be paid in quarterly draws equal to 75% of the cumulative year- to-date bonus no later
than 45 days following the end of the first (May 15), second (August 15), and third (October 15) quarters and a final payment no later than 90 days following the end of the year (March 31) in an amount that represents 100% of the actual Quarterly
Bonus due and not previously paid. With regard to any partial year, Employee shall not be entitled to any compensation with respect to the period prior to the date of this Agreement or after the date it terminates. 

See attached example of Executive Employee Compensation. 
  

	 	C.	 Calculations. All calculations shall be made by the Company and shall be final and binding, absent manifest
error. 

	IV.	 Definitions: 

A “Basis Point” is equal to one hundredth of one percentage point (0.01%) of the gross loan amount stated in the Note at
settlement. 
 An “In-House Loan” is defined as a company closed and funded
residential mortgage loan that is (a) closed and funded by Company in accordance with Applicable Requirements, in the period in which the Override Amount is calculated; and (b) not unfunded, cancelled or rescinded for any reason within
five (5) days after settlement. 
  

	V.	 Separation Payments. Because Volume Override is considered, among other things, a retention incentive, the
employee must be employed through the entire calendar month to be eligible to earn a Volume Override. If the employee is eligible to earn a Monthly Override, it will be paid when earned as defined in this Exhibit A. 

Because Quarterly Bonus is considered, among other things, a retention incentive, the employee must be employed through the entire
calendar quarter to be eligible to earn a Quarterly Bonus. If the employee is eligible to earn a Quarterly Bonus, it will be paid when earned as defined in this Exhibit A. 
  

	VI.	 Leaves of Absence. During unpaid leaves of absences of any nature, Employee will not be eligible to earn any
Volume Override or Quarterly Bonus. However, any Volume Override or Quarterly Bonus earned prior to the start of the unpaid leave of absence will be paid in accordance with this Exhibit. 

 

	VII.	 Periodic Reviews. Periodically, Company will evaluate the commission amounts paid to its employees based on
factors such as loan performance, transaction volume, and current market conditions, and prospectively revise the compensation it agrees to pay to Employee. Company shall have the right, at its sole discretion, to modify this compensation schedule
(Exhibit A), in whole or in part, at any time. In such event, Company shall issue and deliver to Employee a new Exhibit A which reflects such changes which shall, as of the effective date stated thereon, supersede and replace the prior Exhibit A.

 This Exhibit A will apply to all loan closings occurring on or after January 1, 2016,
until such time that the Agreement or this Exhibit A is modified. 
  

					
		  	 DocuSigned by:
	  	
	     Barry Horn
	  	 /s/ Barry Horn
	  	 6/21/2016

	 Employee Name
	  	 Employee Signature
	  	      Date

			
		  	 DocuSigned by:
	  	
	     Mary Ann McGarry
	  	 /s/ Mary Ann McGarry
	  	 5/4/2016

	 Manager Name
	  	 Manager Signature
	  	      Date

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00314-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00314-of-00352.parquet"}]]