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NSM > SEC Filings for NSM > Form 8-K on 8-Jul-2014All Recent SEC Filings




Change in Directors or Principal Officers, Financial Statements

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 1, 2014, Nationstar Mortgage Holdings Inc. (the "Company") entered into an agreement with Harold Lewis, President and Chief Operating Officer of the Company, that provides for certain benefits and payments to Mr. Lewis in the event that Mr. Lewis' employment with the Company is terminated (the "Agreement").

The Agreement provides that Mr. Lewis is and remains an "at-will" employee and may be terminated at any time and for any reason. Under the Agreement, if Mr. Lewis' employment with the Company is terminated by the Company without Cause (as defined in the Agreement), Mr. Lewis will receive his accrued benefits as of the date of termination; and subject to executing a general release of claims in favor of the Company (i) base salary continuation payments for 12 months, plus 100% of his prior year's bonus, (ii) the next tranche of restricted shares scheduled to vest for each grant awarded to Mr. Lewis shall vest on their regularly scheduled vesting dates and (iii) continuation of medical benefits for up to 12 months. Under the Agreement, if Mr. Lewis' employment with the Company is terminated due to the death or disability of Mr. Lewis, he (or his estate) is entitled to receive his accrued benefits, plus a pro-rata bonus for the portion of the year that he was employed by the Company. The Agreement contains certain non-compete, non-solicitation and non-disparagement provisions.

The foregoing description of the Agreement is not complete and is subject to and qualified in its entirety by reference to the Agreement, which is filed as Exhibit 10.1 and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
10.1 Severance Agreement dated as of July 1, 2014 by and between Nationstar Mortgage Holdings Inc. and Harold Lewis.

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