EXHIBIT
10.23


JWH Holding Company, LLC


Economic Profit Plan Document


Approved as of December 20, 2006


I.              The
Plan


The JWH Holding
Company, LLC Economic Profit Plan (EPP) is intended to stimulate and reinforce
executive actions that support and assure the attainment of key corporate
objectives.  The Plan facilitates these
objectives by providing executive employees the opportunity to earn additional
cash compensation if the Company attains its financial and operating objectives
during the plan year and the employee attains required individual performance
levels.


II.            Definitions


1.                                       Base Salary means an Employee’s annual base salary rate but
exclusive of commission, overrides, incentive and other cash and non-cash
payments, as of the end of the Plan Year.


2.                                       Board means the Board of Directors of the Company, as it is
constituted from time to time.


3.                                       Change in Control applies to those
executives who have a change in control provision in their employment
agreement.


4.                                       Company means JWH Holding Company, LLC and its wholly owned business
units.


5.                                       Committee means the Compensation Committee of the Board of
Directors for Walter Industries, Inc., as it is constituted from time to time.


6.                                       Cost of Capital means the overall costs of combined debt and
equity capital used to finance operations. 
The cost of capital is determined by the return that is required by
investors to compensate them for their risk. 
For purposes of the economic profit plan, the cost of capital will be
calculated as the weighted average sum of the cost of equity and the cost of
debt (excluding any asset-backed debt or intercompany debt) as determined
annually by the Committee.


7.                                       Employee or Employees means an Employee or Employees of the
Company or its business units.


8.                                       Employee means any regular, full-time salaried employee
(including any officer) of the Company.


9.                                       Incentive Pool means the fund created in accordance with
Section VII of the Plan.



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10.                                 Individual Performance Goal means the performance goals and
their measures that are designated for all Participants or individual
Participants so that, if each is attained at 100%, the Participant could
receive the Target Incentive Opportunity for such Participant.


11.                                 Officer means an executive officer of the Company, any
Subsidiary President and any Subsidiary Vice-President who reports directly to
the Subsidiary President or who serves on the Subsidiary Executive Committee.


12.                                 Participant or Participants means an Employee or Employees
of the Company, as more fully described in Section IV, who are specifically
designated in writing as being eligible to participate in the Plan.


13.                                 Plan means the Company’s Economic Profit Plan, as it may be
modified from time to time.


14.                                 Plan Year means the calendar year unless the Company
designates a different fiscal year, in which case the Plan Year will be the
Company’s fiscal year.


15.                                 Subsidiary means a wholly owned subsidiary of the Company
that has been declared by the Committee to be eligible to participate in the
Plan.


16.                                 Subsidiary Employee or Employees means an Employee or
Employees of a Subsidiary.


17.                                 Target Incentive Opportunity means additional cash
compensation, expressed as a percent of base salary, or equivalent that may be
recommended as an incentive award if all targets are attained at 100%.  The actual amount of compensation could
increase or decrease as more fully described in Section VIII.


III.           Administration


1.                                       The
Plan shall be administered by the Committee.


2.                                       The
Committee shall have sole and complete authority to make awards under the Plan
from funds authorized by the Board and to adopt, alter and repeal such
administrative rules, guidelines and practices governing the operation of the
Plan, as it shall deem advisable from time to time, and to interpret the terms
and provisions of the Plan.


A majority of the Committee shall constitute a quorum,
and the acts of a majority of the members present at any meeting at which a
quorum is present, or acts approved in writing by a majority of the Committee
without a meeting, shall be the acts of the Committee.



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3.                                       Nothing
in the Plan or plan document and no representations by the Company shall be
construed as creating a contract, oral or written, that guarantees employment
of an individual for any period of time nor is there created any entitlement to
receive an incentive payment except as determined by the Committee.  The decisions and determinations of the
Committee shall be final and binding on all Participants.


IV.           Eligible
Participants


1.                                       The
following Employees of the Company are eligible to participate in the Plan.


a.             Officer Group


·              Executive Officers of the Company


·              Subsidiary Presidents


·                                          Subsidiary
Vice-Presidents who report directly to the Subsidiary   President or serve on the Subsidiary
Executive Committee


b.             Corporate and
Subsidiary Staff Group


·                                          Corporate
and Subsidiary Employees who hold positions that are equal to or greater than
salary grade 9, or the equivalent, under the Company’s job evaluation program.


·                                          Other
positions designated by the CEO of the Company and approved by the Committee,
e.g. top division sales and construction positions, branch managers.


2.                                       Unless
specifically approved by the Committee, e.g. Homes sales contests, participants
in the Plan may not take part in any other cash incentive or bonus plan that is
sponsored by the Company.


V.            Performance
Goals


1.                                       The
Company’s EPP Bonus Pool


As soon as practicable at or near the beginning of the
Plan Year, the Committee will establish the cost of capital.  The Committee will have the sole power and
authority to review and adjust the cost of capital during the Plan Year because
of unanticipated events, including, but not limited to, windfall gains,
disposal of significant assets, catastrophes and other nonrecurring events.  The funding above the cost of capital is
utilized 100% to fund up to the target incentive opportunity, and then the
excess funding is shared between the Company and participants on a ratio established
for each pool (branch manager, division, homes corporate, FSG corporate or JWH
Holding Company) on an uncapped basis.  A
percent of the



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JWH Holding Company economic profit is used to fund a discretionary
pool for use throughout JWH Holding Company by the Executive Committee.


2.                                       Individual
Performance Goals (IPG) — Employees’ target incentive opportunities are
adjusted based on their results relative to their IPGs.


As soon as practicable at or near the beginning of the Plan Year, each
Participant and the Participant’s manager will establish three Individual
Performance Goals for each participant.  The
Participant and the manager will assign relative weights to each goal so that
the sum of all weighting factors is equal to 1.0.  The goals will be reviewed and approved by
the next level of executive management.


Individual Performance Goals will focus on key executive actions and
accomplishments within the executive’s area of responsibility that support the
Company’s key objectives.  The goals, in
order to be effective, must be specific and measurable, to the greatest extent
possible.  Examples of Individual
Performance Goals for the appropriate line managers will generally relate to
capital expenditures, working capital, return on net assets, productivity
enhancement or specific projects related to the Employee’s area of
responsibility.


A Participant’s manager shall have the authority, with the written
approval of the next level of executive management, to review and adjust the
Individual Performance Goals during the Plan Year because of unanticipated
events, including, but not limited to, windfall gains, disposal of significant
assets, catastrophes and other nonrecurring events.


VI.           Target
Incentive Opportunity


1.                                       Participants
in the Plan will have Target Incentive Opportunities, as determined by the
Committee or in accordance with the Company’s compensation policies, for each
participant as of the beginning of the Plan Year.


2.                                       A
Target Incentive Opportunity represents the amount of additional cash
compensation that will be recommended for payment if all the Company and
Individual Performance Targets are attained at 100%.


3.                                       Actual
payments may decrease from Target Incentive Opportunity depending on actual
performance compared to Individual Performance Goals and final determination by
the Committee.  The funding above target
is shared by the Company with the employees. 
The maximum award is uncapped based on the difference between the Cost
of Capital and Return on Invested Capital factored for Individual Performance
Goal attainment as determined by Company compensation policies.  The JWH Holding Company’s Human Resources
Department must approve changes to salary grade.



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VII.         Incentive
Pool


At the beginning of each
Plan Year, the Company will establish an Incentive Pool derived from the
aggregate of the Base Salaries of the Participants times their Target Incentive
Opportunity.  During the course of the
year the Company may adjust the size of the Incentive Fund to reflect projected
year-end performance, participant changes and resulting year-end incentive
payments.


VIII.        Incentive
Awards


1.                                       A
Participant’s incentive award will be calculated by the sum of the following
components:


a.                                       Corporate
performance for return on invested capital versus cost of capital to fund the
pool.


b.                                      Individual
performance versus individual performance goals to generate the participant’s
share of the pool.


2.                                       The
Committee shall set the cost of capital at the beginning of the Plan Year,
which will remain the same for the Plan Year unless changed by the Committee.


3.                                       The
Committee shall approve the target incentive opportunities for employees at the
beginning of the Plan Year.


4.                                       The
Participant’s manager shall recommend at the beginning of the Plan Year,
criteria to measure individual performance goals, which criteria shall be
approved by the next level of executive management.


5.                                       Minimum
Individual Performance Required.


Performance Appraisal Rating: A Participant who is
rated “Needs Development” under the Company’s performance appraisal program is
not eligible for an incentive payment until performance improves to meet
acceptable standards.  A Participant, who
is not rated due to being new in the position, is eligible for an incentive
payment as long as he is progressing satisfactorily towards expected standards
and is meeting the other requirements of the Plan.


6.                                       Minimum
Financial Performance Required


a.                                       No
incentive payments will be paid if actual return on invested capital is less
than the cost of capital for any pool.


b.             Individual performance
will be used to adjust payments from target.



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c.                                       If
a business unit generates economic profit, it can receive a pool payment even
though JWH Holding Company does not earn an economic profit.


7.                                       Incentive
awards may not be paid until the completion of the Company’s audited financial
statements corresponding to the Plan Year and the approval of the Company’s
Audit Committee has been received.


8.                                       The
calculated awards will be recommended for payment to the Committee.  The committee will not use discretion to
increase the size of the award.


IX.           Method
of Payment


1.                                       Each
incentive award, once approved, may be paid to the Participant on the next
payroll cycle, less required withholdings, or by separate check.


2.                                       Pro
rata payments.


a.                                       A
Participant must be an Employee at the time the bonus is paid in order to
receive an incentive payment under the Plan. 
A Participant whose employment is terminated before the end of the Plan
Year will not be eligible for an incentive award for that Plan Year unless the
termination was the result of death, disability or retirement under a Company
sponsored retirement plan, in which case, a pro rata payment at target may be
recommended providing the Participant worked at least three months during the
Plan Year. The Plan defines “retirement” as the termination of the EPP
participant’s employment with the Company and its subsidiaries other than for
cause and either a) on or after the date on which the employee attains the age
of 60, or, b) on a date on which the sum of the employee’s age and completed
years of employment with the Company and its subsidiaries is at least eighty
(80).”


b.                                      Participants
who are hired, transferred or promoted into an eligible position may be
recommended for a pro rata payment, based on their time in the eligible
position, as long as they have worked in that position at least three months
during the Plan Year.  Individual
Performance Goals must be established for the new position at the time of hire,
transfer or promotion.


c.                                       Participants
who are promoted or transferred from one incentive position to another
incentive position will receive a pro rata payment based on the period of time
they were in each position.  Any pro rata
payment from Subsidiary Performance will be measured and apportioned at the end
of the Plan Year.  Individual Performance
Goals must be set and measured for the period in each position.



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d.                                      If
there is a qualifying termination following a change in control of the Company
or subsidiary, a pro rata portion of the target amount is paid out.


X.            Effective
Date and Duration


1.                                       The
Plan shall be effective January 1, 2007.


2.                                        The
Committee may discontinue the Plan, in whole or in part, at any time, or may,
from time to time, amend the Plan in any respect that the Committee may deem to
be advisable.



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