SEC Contract Filing

Filing Date: 2022-03-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.20
<SEQUENCE>2
<FILENAME>ex1020uwmcrsuagreement.htm
<DESCRIPTION>EX-10.20 RSU AGREEMENT
<TEXT>
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<title>Document</title></head><body><div id="ifbd5e71d8a4f49de8b548cd2989aedbc_38"></div><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Exhibit 10.20</font></div></div><div style="margin-bottom:24pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">UWM HOLDINGS CORPORATION<br>RESTRICTED STOCK UNIT AGREEMENT</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">RESTRICTED STOCK UNIT AGREEMENT</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (this &#8220;Agreement&#8221;) is made by and between UWM Holdings Corporation, a Delaware corporation (&#8220;UWMC&#8221;), and the participant (the &#8220;Participant&#8221;) specified on the Award Acceptance page (the &#8220;Award Acceptance Page&#8221;) of the Fidelity NetBenefits equity plan administration system (the &#8220;System&#8221;), effective as of the award date (the &#8220;Award Date&#8221;) specified on the Award Acceptance Page. The information set forth on the Award Acceptance Page is hereafter collectively referred to as the &#8220;Notice of Award&#8221;.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">WHEREAS</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, UWMC&#8217;s Board of Directors (the &#8220;Board&#8221;) and stockholders of UWMC previously adopted the UWM Holdings Corporation 2020 Omnibus Incentive Plan (the &#8220;Equity Plan&#8221;) (the terms of which are hereby incorporated by reference and made part of this Agreement). </font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">WHEREAS</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, Section 9 of the Equity Plan provides that the Committee shall have the discretion and right to award Restricted Stock Units to any Eligible Person, subject to the terms and conditions of the Equity Plan and any additional terms provided by the Committee. </font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">WHEREAS</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, the Committee has determined that it would be to the advantage and best interest of UWMC and its stockholders to award Restricted Stock Units as provided for herein to the Participant as an inducement to remain in the service of UWMC or its subsidiaries, including United Wholesale Mortgage, LLC (the &#8220;Subsidiaries,&#8221; and UWMC and its Subsidiaries collectively, the &#8220;Company&#8221;), and as an incentive for the Participant&#8217;s efforts during such service and has advised the Company thereof and instructed the appropriate officer of the Company to issue said Restricted Stock Units.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">WHEREAS</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, the Participant desires to accept the award of Restricted Stock Units and agrees to be bound by the terms and conditions of the Equity Plan and this Agreement.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">NOW, THEREFORE</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, in consideration of the mutual covenants herein contained and other good and valuable consideration, receipt of which is hereby acknowledged, the parties hereto do hereby agree as follows&#58;</font></div><div style="padding-left:83.25pt;padding-right:83.25pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">ARTICLE I.<br></font></div><div style="padding-left:72pt;padding-right:72pt;text-align:center;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">DEFINITIONS</font></div><div style="text-align:center"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Whenever the following terms are used in this Agreement, they shall have the meaning specified below unless the context clearly indicates to the contrary. The masculine pronoun shall include the feminine and neuter, and the singular shall include th