COUNTRYWIDE FINANCIAL CORP
EXHIBIT 10.2
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>v15845exv10w2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;10.2</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>AMENDMENT NUMBER TEN<BR>
TO THE<BR>
COUNTRYWIDE FINANCIAL CORPORATION<BR>
1993 STOCK OPTION PLAN</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>, the Compensation Committee of the Board of Directors of Countrywide Financial
Corporation (the &#147;<B>Company</B>&#148;) has determined that it is in the best interest of the Company to amend
the Countrywide Financial Corporation 1993 Stock Option Plan (the &#147;1993 Plan&#148;) to have optionees
receive stock in lieu of cash in the event they wish to surrender options following a Change in
Control;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>NOW
THEREFORE</B>, the 1993 Plan is amended, effective as of December&nbsp;23, 2005, in the following
particulars:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;Section&nbsp;7(e) is hereby deleted and new Section 7(e) is inserted in its place as
follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;(e) <U>Effect of Change in Control</U><B>. </B>Notwithstanding anything contained in the Plan or
an Agreement to the contrary, in the event of a Corporate Change (1)&nbsp;all Options outstanding on the
date of such Change in Control shall become immediately and fully exercisable and (2)&nbsp;an Optionee
shall be permitted to surrender for cancellation within sixty (60)&nbsp;days after such Change in
Control, any Option or portion of an Option to the extent not yet exercised and the Optionee will
be entitled to receive a payment in Shares, (valued at the Fair Market Value on the date preceding
the date of such surrender) an amount equal to the excess, if any of (x) (A)&nbsp;in the case of an
Nonqualified Stock Option, the greater of (i)&nbsp;the Fair Market Value, on the date preceding the date
of surrender of the Shares subject to the Option or portion thereof surrendered, or (ii)&nbsp;the
Adjusted Fair Market Value of the Shares subject to the Option or portion thereof surrendered or
(B)&nbsp;in the case of an Incentive Stock Option, the Fair Market Value, on the date preceding the date
of surrender, of the Shares subject to the Option or portion thereof surrendered, over (y)&nbsp;the
aggregate purchase price for such Shares under the Option or portion thereof surrendered;
<U>provided</U> <U>however</U>, that in the case of an Option granted within six (6)&nbsp;months prior
to the Change in Control to any Optionee who may be subject to liability under Section 16(b) of the
Exchange Act, such Optionee shall be entitled to surrender for cancellation his or her Option
during the sixty (60)&nbsp;day period commencing upon the expiration of six (6)&nbsp;months from the date of
grant of any such Option.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&#091;THE NEXT PAGE IS THE SIGNATURE PAGE&#093;
</DIV>


<P align="center" style="font-size: 10pt">1
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the Company has caused this Amendment Number Ten to be executed by its
duly authorized officer this 29th day of December, 2005.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Countrywide Financial Corporation<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left"> /s/ Marshall M. Gates
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Marshall M. Gates&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Senior Managing Director, Chief Administrative
Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="3" align="left">Attest:<BR>
&nbsp;<BR>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top" align="left">&nbsp;</TD>
</TR><TR>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ Gerard A. Healy
&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
</TR><TR>
    <TD colspan="3" align="left">Gerard A. Healy&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
</TR><TR>
    <TD colspan="3" align="left">Senior Vice President and
Assistant Legal Counsel&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">2
</DIV>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
