SEC Contract Filing

Filing Date: 2018-03-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.11.1
<SEQUENCE>6
<FILENAME>ex-1011120171231.htm
<DESCRIPTION>EXHIBIT 10.11.1
<TEXT>
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<div><a name="sf5d87a07c031414eaeb02aeef9d7362b"></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 10.11.1</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><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;">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;">2018 MANAGEMENT INCENTIVE PLAN</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Under the PHH Corporation 2014 Equity and Incentive Plan)</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;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;">I.&#160;&#160;INTRODUCTION</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.1.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Purposes</font><font style="font-family:inherit;font-size:10pt;">. The purposes of this PHH Corporation 2018 Management Incentive Plan (this &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">MIP</font><font style="font-family:inherit;font-size:10pt;">&#8221;) are to provide incentives to the officers and other employees of PHH 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;) and its Affiliates (as defined below) to attain the goals established by the Committee (as defined below), to provide such officers and other employees with incentive compensation that is based on Company and individual performance, and to align their interests with the interests of the Company&#8217;s shareholders. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.2.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Description</font><font style="font-family:inherit;font-size:10pt;">. This MIP is a sub-plan under Section 3.5 of 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;) and is subject to the terms of the 2014 EIP. This MIP is the means by which the Committee shall determine cash incentives and affect and implement awards for participating employees hereunder. </font></div><div style="line-height:120%;text-align:justify;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;">II. DEFINITIONS</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As used in this MIP, the following terms shall have the following meanings:</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Affiliate</font><font style="font-family:inherit;font-size:10pt;">&#8221; has the meaning ascribed to it in the 2014 EIP.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Award Agreement</font><font style="font-family:inherit;font-size:10pt;">&#8221; has the meaning ascribed to it in the 2014 EIP.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-si