SEC Contract Filing

Filing Date: 2024-08-07

Document Content:
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<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>rwtex1052q24.htm
<DESCRIPTION>EX-10.5
<TEXT>
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<title>Document</title></head><body><div id="ib05c99f89bc94b1895b083583f5a5246_35"></div><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">EXHIBIT 10.5</font></div><div style="text-align:right"><font><br></font></div><div id="ib05c99f89bc94b1895b083583f5a5246_40"></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:139%"><br>FOURTH AMENDED AND RESTATED EMPLOYMENT AGREEMENT</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:139%">This Fourth Amended and Restated Employment Agreement (&#8220;Agreement&#8221;), effective as of August 6, 2024 (the &#8220;Effective Date&#8221;), is entered into by and between </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:139%">Sasha G. Macomber </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:139%">(the &#8220;Executive&#8221;) and </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:139%">Redwood Trust, Inc.,</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:139%"> a Maryland corporation (the &#8220;Company&#8221;), and amends and restates in its entirety that certain Third Amended and Restated Employment Agreement by and between the Executive and the Company dated November 3, 2023 (the &#8220;Prior Agreement&#8221;).</font></div><div style="text-align:justify;text-indent:36pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:139%">The Company desires to establish its right to the continued services of the Executive, in the capacity, on the terms and conditions, and subject to the rights of termination hereinafter set forth, and the Executive is willing to accept such continued employment in such capacity, on such terms and conditions, and subject to such rights of termination. </font></div><div style="text-align:justify;text-indent:36pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:139%">In consideration of the mutual agreements hereinafter set forth, the Executive and the Company have agreed and do hereby agree as follows&#58;</font></div><div style="text-align:justify;text-indent:36pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:139%">1. Employment and Responsibilities. </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:139%">During the Term, the Executive shall serve as sole Chief Human Resource Officer of the Company, reporting to the Chief Executive Officer of the Company, with responsibilities, duties and authority customary for such position.&#160; The Executive does hereby accept and agree to such continued employment. The Chief Executive Officer may, from time to time, in his sole discretion, modify, reassign and&#47;or augment the Executive&#8217;s responsibilities, subject to prior approval by the Board of Directors of the Company (the &#8220;Board&#8221;), and any such modification, reassignment and&#47;or augmentation shall be deemed a waiver by the Executive of her rights under Section 6(e)(i) hereof only with her express prior written consent. Any such modification, reassignment or augmentation of responsibilities shall be in writing. The Executive shall devote such time, energy and skill to the performance of her duties for the Company and for the benefit of the Company as may be necessary or required for the effective conduct and operation of the Company&#8217;s business. </font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:139%"> </font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:139%">2. Term of Agreement.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:139%"> The term of this Agreement (the &#8220;Term&#8221;) shall commence on the Effective Date and shall continue through December 31, 2024&#59; provided, however, that (i) on January 1, 2025 and each succeeding January 1, the Term shall automatically be extended for one additional year unless, not later than three months prior to any such January 1, either party shall have given written notice to the other that it does not wish to extend the Term and (ii) such one year extensions of the Term shall not occur on and after the January 1 of the year in which </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Cambria',sans-serif;font-size:10pt;font-weight:400;line-height:120%">-1-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div>