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Nationstar Mortgage Holdings Inc. – ‘10-Q’ for 3/31/17 – ‘EX-10.1’

On:  Friday, 5/5/17, at 4:58pm ET   ·   For:  3/31/17   ·   Accession #:  1520566-17-37   ·   File #:  1-35449

Previous ‘10-Q’:  ‘10-Q’ on 11/3/16 for 9/30/16   ·   Next:  ‘10-Q’ on 8/7/17 for 6/30/17   ·   Latest:  ‘10-Q’ on 8/3/18 for 6/30/18

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  As Of               Filer                 Filing    For·On·As Docs:Size

 5/05/17  Nationstar Mortgage Holdings Inc. 10-Q        3/31/17  102:19M

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML   1.25M 
 2: EX-10.1     Material Contract                                   HTML     39K 
 3: EX-31.1     Exhibit 31.1 Certification by CEO                   HTML     37K 
 4: EX-31.2     Exhibit 31.2 Certification by CFO                   HTML     37K 
 5: EX-32.1     Exhibit 32.1 Certification by CEO                   HTML     31K 
 6: EX-32.2     Exhibit 32.2 Certification by CFO                   HTML     31K 
13: R1          Document and Entity Information                     HTML     50K 
14: R2          Consolidated Balance Sheets                         HTML    114K 
15: R3          Consolidated Balance Sheets (Parenthetical)         HTML     55K 
16: R4          Unaudited Consolidated Statements of Operations     HTML     90K 
17: R5          Unaudited Consolidated Statements of Stockholders'  HTML     73K 
                Equity                                                           
18: R6          Unaudited Consolidated Statements of Cash Flows     HTML    149K 
19: R7          Nature of Business and Basis of Presentation        HTML     53K 
20: R8          Mortgage Servicing Rights ("MSRs") and Related      HTML    200K 
                Liabilities                                                      
21: R9          Advances and Other Receivables, Net                 HTML     54K 
22: R10         Reverse Mortgage Interests, Net                     HTML     67K 
23: R11         Mortgage Loans Held for Sale and Investment         HTML     92K 
24: R12         Other Assets                                        HTML     49K 
25: R13         Derivative Financial Instruments                    HTML    128K 
26: R14         Indebtedness                                        HTML    252K 
27: R15         Payables and Accrued Liabilities                    HTML     67K 
28: R16         Securitizations and Financings                      HTML    109K 
29: R17         Stockholders' Equity                                HTML     39K 
30: R18         Income Taxes                                        HTML     40K 
31: R19         Fair Value Measurements                             HTML    312K 
32: R20         Capital Requirements                                HTML     34K 
33: R21         Commitments and Contingencies                       HTML     52K 
34: R22         Business Segment Reporting                          HTML    176K 
35: R23         Guarantor Financial Statement Information           HTML    799K 
36: R24         Transactions with Affiliates                        HTML     47K 
37: R25         Nature of Business and Basis of Presentation        HTML     75K 
                (Policies)                                                       
38: R26         Mortgage Servicing Rights ("MSRs") and Related      HTML    195K 
                Liabilities (Tables)                                             
39: R27         Advances and Other Receivables, Net (Tables)        HTML     49K 
40: R28         Reverse Mortgage Interests, Net (Tables)            HTML     58K 
41: R29         Mortgage Loans Held for Sale and Investment         HTML     86K 
                (Tables)                                                         
42: R30         Other Assets (Tables)                               HTML     45K 
43: R31         Derivative Financial Instruments (Tables)           HTML    119K 
44: R32         Indebtedness (Tables)                               HTML    242K 
45: R33         Payables and Accrued Liabilities (Tables)           HTML     61K 
46: R34         Securitizations and Financings (Tables)             HTML    106K 
47: R35         Income Taxes (Tables)                               HTML     38K 
48: R36         Fair Value Measurements (Tables)                    HTML    297K 
49: R37         Business Segment Reporting (Tables)                 HTML    172K 
50: R38         Guarantor Financial Statement Information (Tables)  HTML    797K 
51: R39         Nature of Business and Basis of Presentation -      HTML     43K 
                Narrative (Details)                                              
52: R40         Mortgage Servicing Rights ("MSRs") and Related      HTML     49K 
                Liabilities - MSRs and Related Liabilities                       
                (Details)                                                        
53: R41         Mortgage Servicing Rights ("MSRs") and Related      HTML     45K 
                Liabilities - MSR's at Fair Value (Details)                      
54: R42         Mortgage Servicing Rights ("MSRs") and Related      HTML     46K 
                Liabilities - Narrative (Details)                                
55: R43         Mortgage Servicing Rights ("MSRs") and Related      HTML     40K 
                Liabilities - UPB related to owned MSRs (Details)                
56: R44         Mortgage Servicing Rights ("MSRs") and Related      HTML     70K 
                Liabilities - Fair Value Assumptions (Details)                   
57: R45         Mortgage Servicing Rights ("MSRs") and Related      HTML     53K 
                Liabilities - MSR's at Amortized Cost (Details)                  
58: R46         Mortgage Servicing Rights ("MSRs") and Related      HTML     49K 
                Liabilities - Fair Value Sensitivity Analysis                    
                (Details)                                                        
59: R47         Mortgage Servicing Rights ("MSRs") and Related      HTML     46K 
                Liabilities - Servicing Revenue (Details)                        
60: R48         Advances and Other Receivables, Net - Schedule of   HTML     35K 
                Accounts Receivable (Details)                                    
61: R49         Advances and Other Receivables, Net - Narrative     HTML     37K 
                (Details)                                                        
62: R50         Advances and Other Receivables, Net - Advances and  HTML     37K 
                Other Receivables Roll Forward (Details)                         
63: R51         Reverse Mortgage Interests, Net - Schedule of       HTML     38K 
                Reverse Mortgage Interest (Details)                              
64: R52         Reverse Mortgage Interests, Net - Narrative         HTML     53K 
                (Details)                                                        
65: R53         Reverse Mortgage Interests, Net - Unsecuritzed      HTML     38K 
                Interest (Details)                                               
66: R54         Reverse Mortgage Interests, Net - Reserves Roll     HTML     34K 
                Forward (Details)                                                
67: R55         Mortgage Loans Held for Sale and Investment -       HTML     38K 
                Mortgage Loans Held for Sale (Details)                           
68: R56         Mortgage Loans Held for Sale and Investment -       HTML     52K 
                Narrative (Details)                                              
69: R57         Mortgage Loans Held for Sale and Investment -       HTML     45K 
                Reconciliation to Cash Flow (Details)                            
70: R58         Mortgage Loans Held for Sale and Investment -       HTML     42K 
                Mortgage Loans Held for Investment (Details)                     
71: R59         Mortgage Loans Held for Sale and Investment -       HTML     39K 
                Accretable Yield (Details)                                       
72: R60         Other Assets - Schedule of Others Assets (Details)  HTML     52K 
73: R61         Other Assets - Narrative (Details)                  HTML     30K 
74: R62         Derivative Financial Instruments - Narrative        HTML     33K 
                (Details)                                                        
75: R63         Derivative Financial Instruments - Derivative       HTML     75K 
                Instruments (Details)                                            
76: R64         Indebtedness - Notes Payable Summary (Details)      HTML    139K 
77: R65         Indebtedness - Summary of Unsecured Senior Notes    HTML     57K 
                (Details)                                                        
78: R66         Indebtedness - Narrative (Details)                  HTML     63K 
79: R67         Indebtedness - Schedule of Notes Maturity           HTML     55K 
                (Details)                                                        
80: R68         Indebtedness - Summary of Other Non-Recourse Debt   HTML     57K 
                (Details)                                                        
81: R69         Payables and Accrued Liabilities - Schedule of      HTML     66K 
                Accounts Payable (Details)                                       
82: R70         Payables and Accrued Liabilities - Repurchase       HTML     34K 
                Reserves (Details)                                               
83: R71         Securitizations and Financings - Assets and         HTML     74K 
                Liabilities of Consolidated VIEs (Details)                       
84: R72         Securitizations and Financings - Securitization     HTML     37K 
                Trusts (Details)                                                 
85: R73         Securitizations and Financings - Cash Flows from    HTML     34K 
                Securitization Trust (Details)                                   
86: R74         Stockholders' Equity - Narrative (Details)          HTML     53K 
87: R75         Income Taxes - Schedule of Income Taxes (Details)   HTML     34K 
88: R76         Income Taxes - Narrative (Details)                  HTML     31K 
89: R77         Fair Value Measurements - Measured on a Recurring   HTML    120K 
                Basis (Details)                                                  
90: R78         Fair Value Measurements - Level 3 Reconciliation    HTML     68K 
                (Details)                                                        
91: R79         Fair Value Measurements - Fair Value by Balance     HTML    130K 
                Sheet Line Item (Details)                                        
92: R80         Capital Requirements - Narrative (Details)          HTML     30K 
93: R81         Commitments and Contingencies - Narrative           HTML     47K 
                (Details)                                                        
94: R82         Business Segment Reporting - Financial Information  HTML     94K 
                (Details)                                                        
95: R83         Guarantor Financial Statement Information -         HTML     35K 
                Narrative (Details)                                              
96: R84         Guarantor Financial Statement Information -         HTML    157K 
                Consolidating Balance Sheets (Details)                           
97: R85         Guarantor Financial Statement Information -         HTML    111K 
                Consolidating Statements of Operations (Details)                 
98: R86         Guarantor Financial Statement Information -         HTML    256K 
                Consolidating Statements of Cash Flow (Details)                  
99: R87         Transactions with Affiliates - Narrative (Details)  HTML     70K 
101: XML         IDEA XML File -- Filing Summary                      XML    188K  
100: EXCEL       IDEA Workbook of Financial Reports                  XLSX    135K  
 7: EX-101.INS  XBRL Instance -- nsm-20170331                        XML   7.08M 
 9: EX-101.CAL  XBRL Calculations -- nsm-20170331_cal                XML    327K 
10: EX-101.DEF  XBRL Definitions -- nsm-20170331_def                 XML    951K 
11: EX-101.LAB  XBRL Labels -- nsm-20170331_lab                      XML   2.12M 
12: EX-101.PRE  XBRL Presentations -- nsm-20170331_pre               XML   1.36M 
 8: EX-101.SCH  XBRL Schema -- nsm-20170331                          XSD    280K 
102: ZIP         XBRL Zipped Folder -- 0001520566-17-000037-xbrl      Zip    406K  


‘EX-10.1’   —   Material Contract


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



 <!   C:   C: 
  Exhibit  
Exhibit 10.1

exhibit101apateloffer_image1.jpgMarch 20, 2017

Amar Patel
9222 Moss Haven Drive
Dallas, TX 75231

Dear Amar:

Welcome to Nationstar Mortgage, LLC! We look forward to you joining our team. This letter will confirm our offer and your acceptance to join our team as Interim CFO, reporting to Jay Bray, CEO. The details of our offer are outlined below:

Annual Base Salary:
You will be paid a bi-weekly salary of $14,423.07 which is equivalent to $375,000 on an annualized basis.

Bonus Opportunity:
You will be eligible to participate in the Executive Management Incentive Plan (EMIP). Your maximum annual bonus opportunity will be 400% of your annual base salary or $1.5M. Your target bonus will be 60% of your maximum bonus opportunity or $900,000. Your bonus will be based on achieving Company, business unit and individual performance goals established by your management. In addition, you must be actively employed by Nationstar on the day the bonus is paid to receive an award.

Long Term Incentive Opportunity:
Contingent upon continued employment, you will be eligible for an annual equity award comparable to the awards granted to similarly situated executives. The grants are usually made in March and typically vest equally over three years. All awards must be approved by the Compensation Committee of the Board of Directors.

Sign-On Equity:
You will receive a one-time sign-on equity award of Nationstar Mortgage Holdings Inc. valued at $500,000. The award will be granted on the first day of the month following your start date and will vest equally over three years. The award is subject to the approval of the Compensation Committee of the Board of Directors.

Non-solicit:
You agree that during the period of your employment and for the twelve (12) month period immediately following the date of your termination of employment with Nationstar for any reason, you shall not, directly or indirectly, solicit or induce any officer, director, employee, agent or consultant of Nationstar or any of their successors, assigns, subsidiaries or affiliates to terminate his, her or its employment or other relationship with Nationstar or any of their successors, assigns, subsidiaries or affiliates, or otherwise encourage any such person or entity to leave or sever his, her or its employment or other relationship with Nationstar or any of their successors, assigns, subsidiaries or affiliates, for any other reason.
Employment at will:
Nothing herein constitutes an offer of employment for any definite period of time. The employment relationship is "at-will" which affords you and Nationstar the right to terminate the relationship at any time for no reason or any reason.
Anticipated Start Date:




At Nationstar Mortgage, we believe our employees are our most important assets.  As such, we will commit to providing you with an environment which provides you with an opportunity to become involved, to apply your skills and talents, and to make a difference.

Should you accept employment with Nationstar, you will be eligible for a maximum of 25 vacation days annually, earned and accrued on a per pay-period basis. On the first day of the month following your first day of employment, you will be eligible to participate in a variety of health and welfare plans including medical, dental, life, disability, sick leave, vacation, and paid holidays. You will also be eligible to participate in the Nationstar 401(k) retirement plan. More information about these benefits will be provided to you during New Hire Orientation.

If you have or had any agreement or contract with any previous employer or any other entity that would restrict or impair your ability to work for Nationstar, call upon its customers, or prospective customers, or assist Nationstar in recruiting employees, you must immediately notify us. Also, please be advised that Nationstar prohibits all employees from using trade secrets or other confidential information (verbal, written, electronics or otherwise) they may have acquired from any prior employer. Nationstar also prohibits employees from bringing any former employer’s confidential information on to Nationstar’s property, including its computer systems, databases, and company-owned or paid-for equipment. If you have any proprietary or confidential information of any prior employer, you are required to retain the same. However, you are not to use that information in any way in your job at Nationstar.
This offer is contingent upon the following:

Proof of eligibility and employment authorization in accordance with governmental (I-9) requirements,
Obtaining satisfactory criminal, employment, and education background checks,
Completing all new hire paperwork, which you will receive in the days after you sign and
date this letter.

Amar, we look forward to you playing a vital role at Nationstar. Please feel free to contact me if you have any questions.

Sincerely,

/s/ Tran Taylor

Tran Taylor
Chief Human Resources Officer




I, Amar Patel, accept and agree to all the terms and conditions contained in this offer letter.


/s/ Amar Patel        March 20, 2017                
(Signature)    Date

I understand and agree that if I am hired by Nationstar Mortgage or any affiliate of Nationstar Mortgage that my employment relationship with Nationstar Mortgage or any affiliate of Nationstar Mortgage to whom I may hereafter be assigned, will be as an “employee at-will.”  Nationstar Mortgage retains the right to terminate my employment relationship at any time with or without cause, without notice, and without incurring any liability to me.  I further understand and agree that any agreement providing for a term of employment or any agreement restricting or limiting the right of Nationstar Mortgage or any affiliate to terminate my employment relationship for just cause is not binding, unless such an agreement is made in writing and signed by the CEO of Nationstar Mortgage and me. This offer is contingent upon successful completion of a background investigation.



Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
Filed on:5/5/17
For Period end:3/31/17
3/20/173,  8-K
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Filing Submission 0001520566-17-000037   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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