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| Date of Grant:    |   |   |   |   |
|-------------------|--------|--------|--------|--------|
|              |   |   |   |   |
| Name of Optionee: |   |   |   |   |
|              |   |   |   |   |
| Number of Shares: |   |   |   |   |
|              |   |   |   |   |
| Exercise Price:   |   | $      |   |   |
|              |   |   |   |   |
| Expiration Date:  |   |   |   |   |
|              |   |   |   |   |
| Vesting Schedule: |   |   |   |   |

| 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 Award 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. | 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. |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | Taxation Upon Exercise of Option |
|----|----------------------------------|

| 5. | Modification, Extension and Renewal of Option |
|----|-----------------------------------------------|

| 6. | Notices |
|----|---------|

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| 7. | Agreement Subject to Plan; Applicable Law |
|----|-------------------------------------------|

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| Date:      |   |   |
|------------|--------|--------|
|       |   |   |
| Attention: |   |   |
| By:         |   |   |
|-------------|--------|--------|
|        |   |   |
| Typed Name: |   |   |
|        |   |   |
| Address:    |   |   |

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