Amendment to April 17, 2018 Offer Letter between Ocwen Financial Corporation and Glen Messina, dated February 27, 2019
EX-10.2 3 a20190331ex102.htm EXHIBIT 10.2 Exhibit
Ocwen Financial Corporation
1661 Worthington Road, Suite 100
West Palm Beach, FL 33409
February 22, 2019
Re: Amendment to April 17, 2018 Offer Letter
On behalf of Ocwen Financial Corporation (“the Company” or “Ocwen”), I am writing to confirm our agreement regarding a change in your compensation in connection with the Company’s ongoing cost re-engineering efforts.
You and the Company hereby agree to modify your compensation as follows:
Your annual cash target incentive shall be $1,125,000 (with actual payout to be determined by the Compensation Committee in its discretion based on your performance and the Company’s performance for the relevant year); and
Your annual long-term incentive equity grant shall be an equity grant with a grant date fair value of $2,250,000.
These changes will apply for the 2019 calendar year going forward. All other terms of your employment remain unchanged.
Ocwen thanks you for your commitment to the Company.
/s/ Edward G. Moran
Edward G. Moran
Senior Vice President, Human Resources
Acknowledged and Agreed:
/s/ Glen A. Messina
Glen A. Messina