## **EXHIBIT10.23**

## **JWH Holding Company, LLC**

## **Economic Profit Plan Document**

## **Approved as of December 20, 2006**

## **I.              ThePlan**

The JWH HoldingCompany, LLC Economic Profit Plan (EPP) is intended to stimulate and reinforceexecutive actions that support and assure the attainment of key corporateobjectives.  The Plan facilitates theseobjectives by providing executive employees the opportunity to earn additionalcash compensation if the Company attains its financial and operating objectivesduring the plan year and the employee attains required individual performancelevels.

## **II.            Definitions**

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

2.                                       **Board** means the Board of Directors of the Company, as it isconstituted from time to time.

3.                                       **Change in Control** applies to thoseexecutives who have a change in control provision in their employmentagreement.

4.                                       **Company** means JWH Holding Company, LLC and its wholly owned businessunits.

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

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

7.                                       **Employee or Employees** means an Employee or Employees of theCompany 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 withSection VII of the Plan.

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10.                                 **Individual Performance Goal**means the performance goals andtheir measures that are designated for all Participants or individualParticipants so that, if each is attained at 100%, the Participant couldreceive the Target Incentive Opportunity for such Participant.

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

12.                                 **Participant or Participants**means an Employee or Employeesof the Company, as more fully described in Section IV, who are specificallydesignated in writing as being eligible to participate in the Plan.

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

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

15.                                 **Subsidiary**means a wholly owned subsidiary of the Companythat has been declared by the Committee to be eligible to participate in thePlan.

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

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

## **III.           Administration**

1.                                       ThePlan shall be administered by the Committee.

2.                                       TheCommittee shall have sole and complete authority to make awards under the Planfrom funds authorized by the Board and to adopt, alter and repeal suchadministrative rules, guidelines and practices governing the operation of thePlan, as it shall deem advisable from time to time, and to interpret the termsand 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 aquorum is present, or acts approved in writing by a majority of the Committeewithout a meeting, shall be the acts of the Committee.

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3.                                       Nothingin the Plan or plan document and no representations by the Company shall beconstrued as creating a contract, oral or written, that guarantees employmentof an individual for any period of time nor is there created any entitlement toreceive an incentive payment except as determined by the Committee.  The decisions and determinations of theCommittee shall be final and binding on all Participants.

## **IV.           EligibleParticipants**

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

a.             Officer Group

·              Executive Officers of the Company

·              Subsidiary Presidents

·                                          SubsidiaryVice-Presidents who report directly to the Subsidiary   President or serve on the SubsidiaryExecutive Committee

b.             Corporate andSubsidiary Staff Group

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

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

2.                                       Unlessspecifically approved by the Committee, e.g. Homes sales contests, participantsin the Plan may not take part in any other cash incentive or bonus plan that issponsored by the Company.

## **V.            PerformanceGoals**

1.                                       TheCompany’s EPP Bonus Pool

As soon as practicable at or near the beginning of thePlan Year, the Committee will establish the cost of capital.  The Committee will have the sole power andauthority to review and adjust the cost of capital during the Plan Year becauseof 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 isutilized 100% to fund up to the target incentive opportunity, and then theexcess funding is shared between the Company and participants on a ratio establishedfor each pool (branch manager, division, homes corporate, FSG corporate or JWHHolding Company) on an uncapped basis.  Apercent of the

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

2.                                       IndividualPerformance Goals (IPG) — Employees’ target incentive opportunities areadjusted based on their results relative to their IPGs.

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

Individual Performance Goals will focus on key executive actions andaccomplishments within the executive’s area of responsibility that support theCompany’s key objectives.  The goals, inorder to be effective, must be specific and measurable, to the greatest extentpossible.  Examples of IndividualPerformance Goals for the appropriate line managers will generally relate tocapital expenditures, working capital, return on net assets, productivityenhancement or specific projects related to the Employee’s area ofresponsibility.

A Participant’s manager shall have the authority, with the writtenapproval of the next level of executive management, to review and adjust theIndividual Performance Goals during the Plan Year because of unanticipatedevents, including, but not limited to, windfall gains, disposal of significantassets, catastrophes and other nonrecurring events.

## **VI.           TargetIncentive Opportunity**

1.                                       Participantsin the Plan will have Target Incentive Opportunities, as determined by theCommittee or in accordance with the Company’s compensation policies, for eachparticipant as of the beginning of the Plan Year.

2.                                       ATarget Incentive Opportunity represents the amount of additional cashcompensation that will be recommended for payment if all the Company andIndividual Performance Targets are attained at 100%.

3.                                       Actualpayments may decrease from Target Incentive Opportunity depending on actualperformance compared to Individual Performance Goals and final determination bythe Committee.  The funding above targetis shared by the Company with the employees. The maximum award is uncapped based on the difference between the Costof Capital and Return on Invested Capital factored for Individual PerformanceGoal attainment as determined by Company compensation policies.  The JWH Holding Company’s Human ResourcesDepartment must approve changes to salary grade.

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## **VII.         IncentivePool**

At the beginning of eachPlan Year, the Company will establish an Incentive Pool derived from theaggregate of the Base Salaries of the Participants times their Target IncentiveOpportunity.  During the course of theyear the Company may adjust the size of the Incentive Fund to reflect projectedyear-end performance, participant changes and resulting year-end incentivepayments.

## **VIII.        IncentiveAwards**

1.                                       AParticipant’s incentive award will be calculated by the sum of the followingcomponents:

a.                                       Corporateperformance for return on invested capital versus cost of capital to fund thepool.

b.                                      Individualperformance versus individual performance goals to generate the participant’sshare of the pool.

2.                                       TheCommittee 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.                                       TheCommittee shall approve the target incentive opportunities for employees at thebeginning of the Plan Year.

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

5.                                       MinimumIndividual Performance Required.

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

6.                                       MinimumFinancial Performance Required

a.                                       Noincentive payments will be paid if actual return on invested capital is lessthan the cost of capital for any pool.

b.             Individual performancewill be used to adjust payments from target.

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

7.                                       Incentiveawards may not be paid until the completion of the Company’s audited financialstatements corresponding to the Plan Year and the approval of the Company’sAudit Committee has been received.

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

## **IX.           Methodof Payment**

1.                                       Eachincentive award, once approved, may be paid to the Participant on the nextpayroll cycle, less required withholdings, or by separate check.

2.                                       Prorata payments.

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

b.                                      Participantswho are hired, transferred or promoted into an eligible position may berecommended for a pro rata payment, based on their time in the eligibleposition, as long as they have worked in that position at least three monthsduring the Plan Year.  IndividualPerformance Goals must be established for the new position at the time of hire,transfer or promotion.

c.                                       Participantswho are promoted or transferred from one incentive position to anotherincentive position will receive a pro rata payment based on the period of timethey were in each position.  Any pro ratapayment from Subsidiary Performance will be measured and apportioned at the endof the Plan Year.  Individual PerformanceGoals must be set and measured for the period in each position.

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d.                                      Ifthere is a qualifying termination following a change in control of the Companyor subsidiary, a pro rata portion of the target amount is paid out.

## **X.            EffectiveDate and Duration**

1.                                       ThePlan shall be effective January 1, 2007.

2.                                        TheCommittee 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 tobe advisable.

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