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| Date of Grant:    | August 28, 2014                                                                                                                                                                                                                                                                                                                 |               |
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|              |                                                                                                                                                                                                                                                                                                                            |               |   |
| Name of Optionee: |                                                                                                                                                                                                                                                                                                                            |          |   |
|              |                                                                                                                                                                                                                                                                                                                            |               |   |
| Number of Shares: |                                                                                                                                                                                                                                                                                                                            |          |   |
|              |                                                                                                                                                                                                                                                                                                                            |               |   |
| Exercise Price:   | $                                                                                                                                                                                                                                                                                                                               |     |   |
|              |                                                                                                                                                                                                                                                                                                                            |               |   |
| Expiration Date:  | August 28, 2024                                                                                                                                                                                                                                                                                                                 |               |
|              |                                                                                                                                                                                                                                                                                                                            |               |   |
| Vesting Schedule: | 1/3 of the Option will vest and become exercisable on the Trigger Event Date; an additional 1/3 of the Option shall vest and become exercisable on the first anniversary of the Trigger Event Date; and the final 1/3 of the Option shall vest and become exercisable on the second anniversary of the Trigger Event Date  |

| 1. | No Right to Continued Employee Status |
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| 2. | Vesting of the Option |
|----|-----------------------|

|  | (a) | Subject to the other provisions of this Agreement, the Option shall vest in accordance with the Vesting Schedule set forth above. |
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|  | (b) | Notwithstanding anything to the contrary, all unvested Options shall automatically vest in full and become exercisable upon the occurrence of any of the following events following the Trigger Event Date: (i) a Change in Control; (ii) a Termination of Service by the Optionee for Good Reason; (iii) a Termination of Service by CSWI and all of its subsidiaries without Cause, (iv) a Termination of Service due to the Optionee’s Disability; or (v) a Termination of Service due to the Optionee’s death.  Notwithstanding anything to the contrary, in the event of a Change in Control or a Termination of Service for one of the reasons described in this Section 2(b) occurs on or before the Trigger Event Date, the Option shall vest in full and become exercisable on the Trigger Event Date.  For purposes hereof, |
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|  | (i) | “Good Reason” means the occurrence of any of the following: (A) a material breach of the Optionee’s employment agreement by CSWI or any of its subsidiaries; (B) a reduction in the Optionee’s title or a material reduction in the Optionee’s duties, authorities, and/or responsibilities; (C) a material reduction in the Optionee’s compensation or benefits; or (D) a requirement by CSWI or any of its subsidiaries without the Optionee’s consent, that the Optionee relocate to a location greater than thirty‐five (35) miles from the Optionee’s place of residence; provided, however, such events will not constitute “Good Reason” unless (1) the Optionee gives CSWI or one of its subsidiaries employing the Optionee notice of the existence of an event described above within ninety (90) days following the initial occurrence thereof, (2) CSWI or one of its subsidiaries employing the Optionee does not remedy such event within thirty (30) days of receiving the notice described in the preceding clause (1) and (3) the Optionee terminates employment within twelve (12) months of the end of the cure period described in the preceding clause (2); |
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|  | (ii) | “Trigger Event” means the Share Distribution; and |
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|  | (iii) | “Trigger Event Date” means the ninetieth (90th) day following the consummation of the Trigger Event, unless the Trigger Event is a going private transaction, in which case the Trigger Event Date shall be the closing date of such transaction. |
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|  | (c) | 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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|  | (d) | For purposes of this Agreement, a “CSWI Change in Control” means any of the following events: |
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|  | (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; |
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|  | (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; |
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|  | (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 |
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|  | (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. |
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|  | (e) | Except with respect to the Optionee’s Termination of Service for one of the reasons described in Section 2(b), all unvested Options as of the Optionee’s Termination of Service shall expire and be forfeited immediately upon such Termination of Service. |
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|  | (f) | In the case of a Termination of Service, vested Options (including Options vesting pursuant to Section 2(b)) shall be exercisable during the six (6) months following the later of the date of termination and the Trigger Event Date, subject in the case of a termination for Cause, to the provisions of Section 7(e) of the Plan. |
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| 3. | 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. |
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| 4. | Certain Adjustments |
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| 5. | Termination of Service |
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| 6. | Notices |
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| 7. | Taxation Upon Exercise of Option |
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| 8. | Modification, Extension and Renewal of Option |
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| 9. | Agreement Subject to Plan; Applicable Law |
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| Date:      |     |   |
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|       |               |   |
| Attention: |     |   |

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

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