FORM OF SEPARATION AND DISTRIBUTION AGREEMENT by and among TEMPLE-INLAND INC., FORESTAR REAL ESTATE GROUP INC., and GUARANTY FINANCIAL GROUP INC. Dated as of [ ], 2007Separation and Distribution Agreement • November 9th, 2007 • Guaranty Financial Group Inc. • Savings institution, federally chartered • Texas
SEPARATION AND DISTRIBUTION AGREEMENT (this “Agreement”), dated as of [ ], 2007, by and among Temple-Inland Inc., a Delaware corporation (“Temple-Inland”), Forestar Real Estate Group Inc., a Delaware corporation (“Forestar”), and Guaranty Financial Group Inc., a Delaware corporation (“Guaranty”). Each of Temple-Inland, Forestar and Guaranty is sometimes referred to herein as a “Party” and collectively, as the “Parties”.
