SEC Contract Filing

Filing Date: 2018-03-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.12.3
<SEQUENCE>7
<FILENAME>ex-1012320171231.htm
<DESCRIPTION>EXHIBIT 10.12.3
<TEXT>
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<div><a name="sdd56942351f74e8b9c79858d4c96612c"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Exhibit 10.12.3</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">FORM OF PHH CORPORATION </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">MANAGEMENT INCENTIVE PLAN</font></div><div style="line-height:120%;padding-bottom:8px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">2018 AWARD NOTICE</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This Award Notice is delivered by PHH Corporation, a Maryland corporation (the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Company</font><font style="font-family:inherit;font-size:10pt;">&#8221;), to </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">______________</font><font style="font-family:inherit;font-size:10pt;">&#32;(the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Grantee</font><font style="font-family:inherit;font-size:10pt;">&#8221;). Upon and subject to the terms and conditions below and the terms and conditions of the PHH Corporation 2018 Management Incentive Plan (the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">MIP</font><font style="font-family:inherit;font-size:10pt;">&#8221;) and the PHH Corporation 2014 Equity and Incentive Plan (as amended from time to time, the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">2014 EIP</font><font style="font-family:inherit;font-size:10pt;">&#8221;), each to the extent applicable, the Company hereby awards to the Grantee a cash incentive bonus (the &#8220;Award&#8221;) described herein. Capitalized terms used, but not defined, in this Award have the respective meanings ascribed to them in the MIP or the 2014 EIP.</font></div><div style="line-height:120%;text-align:justify;padding-left:48px;text-indent:-48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">A.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Plan Year</font><font style="font-family:inherit;font-size:10pt;">&#32;(to which the Award relates) means: January 1, 2018 through December 31, 2018.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:48px;text-indent:-48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">B.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Target Amount, Targets, and Performance Criteria</font><font style="font-family:inherit;font-size:10pt;">: In calculating the final amount available for payment under this Award for 2018, the Committee will take into account the results achieved by the Company and its Affiliates against the performance criteria described in </font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Appendix A</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:10pt;">(the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Performance Criteria</font><font style="font-family:inherit;font-size:10pt;">&#8221;). The Grantee&#8217;s individual 2018 MIP goal of $[</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">__________]</font><font style="font-family:inherit;font-size:10pt;">&#32;(the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Target Amount</font><font style="font-family:inherit;font-size:10pt;">&#8221;) will be adjusted based on performance against the Performance Criteria for the Plan Year as approved by the Committee in the manner which is shown in </font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Appendix A</font><font style="font-family:inherit;font-size:10pt;">. The Grantee&#8217;s final MIP award