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| Date of Grant:    |                                                                                                             |           |   |
|-------------------|------------------------------------------------------------------------------------------------------------------|--------------------------|--------|
|              |                                                                                                             |                     |   |
| Name of Optionee: |                                                                                                             |           |   |
|              |                                                                                                             |                     |   |
| Number of Shares: |                                                                                                             |      |   |
|              |                                                                                                             |                     |   |
| Exercise Price:   | $                                                                                                                |           |   |
|              |                                                                                                             |                     |   |
| Expiration Date:  |                                                                                                             |                |   |
|              |                                                                                                             |                     |   |
| Vesting Schedule: | Exercisable beginning _________ __, _____ in five (5) annual cumulative installments of __________ Shares.  |

| 1. | No Right to Continued Employee Status |
|----|---------------------------------------|

| 2. | Vesting of the Option |
|----|-----------------------|

|  | (a) | The Option shall vest in accordance with the Vesting Schedule set forth above. |
|--|-----|--------------------------------------------------------------------------------|

|  | (b) | Notwithstanding anything in this Agreement or the Plan to the contrary, employment with CSWI or one of its subsidiaries after the Share Distribution will be deemed to be employment with the Company under the Plan, and a Termination of Service from CSWI and all of its subsidiaries after the Share Distribution will be deemed to be a Termination of Service from the Company under the Plan, notwithstanding that CSWI ceases to be an affiliate of the Company. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | Change in Control |
|----|-------------------|

|  | (a) | Notwithstanding anything in this Agreement or the Plan to the contrary, for purposes of this Agreement a CSWI Change in Control shall be treated as a Change in Control. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|  | (b) | For purposes of this Agreement, a “CSWI Change in Control” means any of the following events: |
|--|-----|-----------------------------------------------------------------------------------------------------------|

|  | (i) | any one person, or more than one “person” acting as a group, acquires (or has acquired during the twelve-month period ending on the date of the most recent acquisition by such person(s)) ownership of the common stock of CSWI possessing fifty-one percent (51%) or more of the total voting power of the common stock of CSWI; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (ii) | individuals who at any time during the term of this Agreement constitute the board of directors of CSWI (the “CSWI Incumbent Board”) cease for any reason to constitute at least a majority thereof, provided that any person becoming a director subsequent to the date hereof whose election or nomination for election was approved by a vote of at least seventy-five percent (75%) of the directors comprising the CSWI Incumbent Board (either by a specific vote or by approval of the proxy statement of CSWI in which such person is named as a nominee for director, without objection to such nomination) shall be, for purposes of this clause (ii) considered as though such person were a member of the CSWI Incumbent Board; |
|--|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (iii) | any consolidation or merger to which CSWI is a party, if following such consolidation or merger, stockholders of CSWI immediately prior to such consolidation or merger shall not beneficially own securities representing at least thirty-three and one third percent (33 1/3%) of the combined voting power of the outstanding voting securities of the surviving or continuing corporation; or |
|--|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (iv) | any sale, lease, exchange or other transfer (in one transaction or in a series of related transactions) of all, or substantially all, of the assets of CSWI, other than to an entity (or entities) of which CSWI or the stockholders of CSWI immediately prior to such transaction beneficially own securities representing at least fifty-one percent (51%) of the combined voting power of the outstanding voting securities. |
|--|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | Exercise; Transferability |
|----|---------------------------|

|  | (a) | Exercise Method.  This Option shall be exercised by delivery to the Company of (i) written notice of exercise stating the number of Shares being purchased (in whole shares only) and such other information set forth on the form of Notice of Exercise attached to this Agreement as Exhibit A and (ii) a check or cash in the amount of the Exercise Price of the Shares covered by the notice (or such other consideration as has been approved by the Board of Directors consistent with the Plan), plus any applicable withholding taxes unless the Optionee exercises this Option through a cashless exercise in accordance with the Plan and the Company’s rules and procedures governing cashless exercises.  Any cashless exercise permitted hereunder will be subject to any applicable limitations or restrictions imposed under the Sarbanes-Oxley Act of 2002. |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|  | (b) | Transferability.  Unless otherwise required by law, this Option shall not be assignable or transferable other than by will, by the laws of descent and distribution, or by a qualified domestic relations order, and may be exercised during the lifetime of the Optionee only by the Optionee (or the Optionee’s guardian or legal representative) or an alternate payee under a qualified domestic relations order. |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5. | Taxation Upon Exercise of Option |
|----|----------------------------------|

| 6. | Modification, Extension and Renewal of Option |
|----|-----------------------------------------------|

| 7. | Notices |
|----|---------|

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| 8. | Agreement Subject to Plan; Applicable Law |
|----|-------------------------------------------|

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| Date:      |            |   |
|------------|--------------------------------|--------|
|       |                           |   |
| Attention: |       |   |

| By:         |                   |   |
|-------------|--------------------------------------------|--------|
|        |                                       |   |
| Typed Name: |         |   |
|        |                                       |   |
| Address:    |                                       |   |

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