SEC Contract Filing

Filing Date: 2020-08-05

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>wd-20200630xex10d5.htm
<DESCRIPTION>EX-10.5
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 9.7.0.58--><!--Created on: 8/5/2020 10:15:22 AM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">Exhibit 10.5</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">EMPLOYMENT AGREEMENT</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">THIS EMPLOYMENT AGREEMENT (the &#8220;Agreement&#8221;) is entered into as of the 14th day of May, 2020, by Walker &amp; Dunlop, Inc., a Maryland corporation (the &#8220;Company&#8221;) with its principal place of business at 7501 Wisconsin Avenue, Suite 1200E, Bethesda, MD 20814, and Paula A. Pryor, residing at the address on file with the Company (the &#8220;Executive&#8221;).</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">WHEREAS, the parties desire to enter into this Agreement to reflect the Executive&#8217;s executive capacities in the Company&#8217;s business and to provide for the Company&#8217;s continued employment of the Executive; and</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">WHEREAS, the parties wish to set forth the terms and conditions of that employment.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">NOW THEREFORE, in consideration of the mutual covenants and promises contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties hereto, the parties agree as follows:</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:36pt;text-align:justify;text-indent:-36pt;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Term of Employment</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">The Company hereby continues to employ the Executive, and the Executive hereby accepts continued employment with the Company, upon the terms and conditions set forth in this Agreement. &#160;Unless terminated earlier pursuant to Section 5, the Executive&#8217;s employment pursuant to this Agreement shall be for the three (3) year period commencing on May 14, 2020 (the &#8220;Commencement Date&#8221;) and ending on the third anniversary of the Commencement Date (the &#8220;Initial Term&#8221;). &#160;The Initial Term shall be extended for an additional twelve (12) months on the third and each subsequent anniversary of the Commencement Date unless the Company or the Executive provides written notice to the contrary at least sixty (60) days before the applicable anniversary of the Commencement Date. &#160;The Initial Term, together with any such extensions, shall be referred to herein as the &#8220;Employment Period.&#8221;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:36pt;text-align:justify;text-indent:-36pt;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Title; Duties</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">The Executive shall be employed as Executive Vice President and Chief Human Resources Officer of the Company. &#160;The Executive shall report to the Chief Executive Officer of the Company, who shall have the authority to direct, control and supervise the activities of the Executive. &#160;The Executive shall perform such services consistent with the Executive&#8217;s position as may be assigned to Executive from time to time by the Chief Executive Officer of the Company and are consistent with the bylaws of the Company as it may be amended from time to time, including, but not limited to, managing the affairs of the Company.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:36pt;text-align:justify;text-indent:-36pt;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Extent of Services</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:36pt;text-align:justify;text-indent:-36pt;margin:0pt 0pt 0pt 36pt;"><font style="font-size:12pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">General</u><font style="font-size:12pt;">. &#160;The Executive agrees not to engage in any business activities during the Employment Period except those which are for the sole benefit of the Company and its subsidiaries, and to devote Executive&#8217;s entire business time, attention, skill and effort to the performance o