SEC Contract Filing

Filing Date: 2018-02-12

Document Content:
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<TYPE>EX-10.1
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<FILENAME>ex10-1.htm
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<P STYLE="margin-top: 0; text-align: right; margin-bottom: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit
10.1</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>SEPARATION
AGREEMENT AND FULL RELEASE</U></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Agreement and Full Release (the &ldquo;Agreement&rdquo;), dated as of February 9, 2018 is by and between Otto Kumbar, (the &ldquo;Individual&rdquo;)
and Ocwen Financial Corporation and Ocwen Mortgage Servicing, Inc., including without limitation their parents, subsidiaries and
affiliates (hereafter &ldquo;Ocwen&rdquo; or the &ldquo;Company&rdquo;).&#9;In consideration of the mutual covenants and agreements
contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto agree as follows:</FONT></P>

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 <TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD>
 <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Termination
 Date and Acknowledgments</U>.</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Individual
and the Company will end their employment relationship on February 9, 2018 (&ldquo;Termination Date&rdquo;). Effective immediately
on the Termination Date, Individual agrees to irrevocably resign from any and all positions as an officer, employee, director,
member, manager or any other position he serves in for Ocwen, including but not limited to President and Chief Executive Officer
and Director, Ocwen Mortgage Servicing, Inc. and Executive Vice President, Lending, Ocwen Financial Corporation. Individual no
longer will be authorized to transact business or incur any expenses, obligations and liabilities on behalf of the Company as
of the Termination Date. Individual further agrees to return, transfer and assign all of his shares of Class M preferred stock
of Ocwen Mortgage Servicing, Inc., being one thousand (1,000) such shares, to Ocwen Mortgages Servicing, Inc., which shares shall
be cancelled without payment of any consideration to Individual, effective upon the Termination Date. Individual also agrees not
to seek reinstatement, future employment, or other working relationship with the Company or any of its affiliates. Individual
acknowledges (i) receipt of all compensation and benefits for all hours worked through and including the Termination Date as a
result of services performed for the Company which will be issued as part of his final paycheck as part of the customary payroll
schedule, except as further provided in this Agreement; (ii) Individual is not entitled to any additional or future compensation
or benefits arising out of Individual&rsquo;s employment with the Company, except for such compensation or benefits, if any, arising
under the retirement or welfare benefits or plans of Ocwen to which Individual may be entitled by virtue of Individual&rsquo;s
employment with the Company, subject in all cases to the terms and conditions of the plans and agreements governing such benefits.
Without limitation to the above, Individual acknowledges and agrees that he is not entitled to any additional incentive or other
bonus type compensation other than what has been included herein; (iii) Individual is not entitled to the vesting of any additional
or future equity awards (iv) Individual has reported to the Company any and all work-related injuries which incurred during employment;
(v) the Company properly provided any leave of absence because of Individual&rsquo;s or a family member&rsquo;s health condition
and Individual has not been subjected to any improper treatment, conduct or actions due to a request for or taking such leave;
(vi) Individual has had the opportunity to provide the Company with written notice of any and all concerns regarding suspected
ethical and compliance issues or violations on the part of the Company or any other Released Parties; and (vii) Individual has
reported any pending judicial or administrative complaints, claims, or actions filed a