<PAGE>

                                                                    EXHIBIT 10.2

                                                                  EXECUTION COPY

                        INCENTIVE STOCK OPTION AGREEMENT

         THIS AGREEMENT, dated and effective as of the date indicated on the
signature page below (the "Effective Date"), is made by and among Dayton
Superior Corporation, an Ohio corporation (the "Company"), and Edward J. Puisis,
an employee of the Company (or one of its Subsidiaries, as defined herein),
hereinafter referred to as "Optionee."

         WHEREAS, the Company wishes to afford the Optionee the opportunity to
purchase shares of its Class A Common Shares, without par value (the "Common
Stock"); and

         WHEREAS, the Company wishes to carry out the 2000 Stock Option Plan of
Dayton Superior Corporation, as amended (the "Plan") (the terms of which are
hereby incorporated by reference and made a part of this Agreement); and

         WHEREAS, the Company has determined that it would be to the advantage
and best interest of the Company and its shareholders to grant the Incentive
Stock Option provided for herein to the Optionee as an inducement to enter into
or remain in the service of the Company (or one of its Subsidiaries) and as an
incentive for increased efforts during such service, and has advised the Company
thereof and instructed the undersigned officers to issue said Option;

         NOW, THEREFORE, in consideration of the mutual covenants herein
contained and other good and valuable consideration, receipt of which is hereby
acknowledged, the parties hereto do hereby agree as follows:

                                   ARTICLE I.
                                   DEFINITIONS

         Whenever the following terms are used in this Agreement, they shall
have the meaning specified below unless the context clearly indicates to the
contrary. Capitalized terms used in this Agreement and not defined below shall
have the meaning given such terms in the Plan. The singular pronoun shall
include the plural, where the context so indicates.

Section 1.1    Affiliate

         "Affiliate" shall mean, with respect to any Person, a Person directly
or indirectly, through one or more intermediaries, controlling, controlled by,
or under common control with, such Person, and with respect to the Company, also
any entity designated by the Board in which the Company or one of its Affiliates
has an interest, and with respect to Odyssey, also any Affiliate of any partner
of Odyssey.

Section 1.2    EBITDA Target; Cumulative EBITDA Target

         "EBITDA Target", and "Cumulative EBITDA Target" shall be as set forth
in Appendix A to this Agreement, subject to the provisions of Section 4.7.

Section 1.3    Cause

         "Cause" shall mean the Optionee's (i) willful or gross misconduct or
material failure in the performance of the Optionee's duties and
responsibilities to the Company, other than any such failure resulting from the
Optionee's Disability, which misconduct or failure continues

Puisis Stock Option Agmt
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beyond 14 days after the Company notifies the Optionee, in writing, of the
Company's finding of such misconduct or failure; or (ii) conviction of, or plea
of guilty or nolo contendre to, a felony or a crime involving moral turpitude;
or (iii) fraud or personal dishonesty involving the Company's assets.

Section 1.4    Change in Control

         "Change in Control" shall mean the occurrence of any of the following:
(i) a change in ownership or control of the Company effected through a
transaction or series of transactions whereby any "person" or related "group" of
"persons" (as such terms are used in Sections 13(d) and 14(d)(2) of the Exchange
Act) (other than the Company, any of its subsidiaries, an employee benefit plan
maintained by the Company or any of its subsidiaries, a Principal Stockholder or
a "person" that, prior to such transaction, directly or indirectly controls, is
controlled by, or is under common control with, the Company or a Principal
Stockholder) directly or indirectly acquires beneficial ownership (within the
meaning of Rule 13d-3 under the Exchange Act) of securities of the Company
possessing more than 50% of the total combined voting power of the Company's
securities outstanding immediately after such transaction or series of
transactions, (ii) the sale, lease, transfer, conveyance or other disposition
(other than by way of merger or consolidation), in one or a series of related
transactions, of all or substantially all of the assets of the Company, or the
Company and its Subsidiaries taken as a whole, to any "person" (as defined
above), or (iii) any consolidation or merger of the Company with or into any
other corporation or entity or "person" (as defined above) in which the
stockholders of the Company prior to such consolidation or merger own less than
fifty percent (50%) of the Company's voting power immediately after such
consolidation or merger, excluding any consolidation or merger affected
exclusively to change the domicile of the Company.

Section 1.5    Determination Date

         "Determination Date" with respect to a given fiscal year, shall mean a
date, not later than 90 days following December 31st of such year, as of which
the Committee determines, pursuant to Section 3.1(d) herein, whether the EBITDA
Target and Cumulative EBITDA Target have been met with respect to such fiscal
year.

Section 1.6    Disability

         "Disability" shall mean the inability of the Optionee to perform his
duties with the Company or a Subsidiary on a full time basis for more than six
months within any 12-month period due to reasonably documented physical or
mental illness.

Section 1.7    EBITDA; Cumulative EBITDA

         "EBITDA" with respect to any period of determination shall mean the sum
of the following (without duplication): (i) consolidated net income (or loss) of
the Company and, if applicable, its Subsidiaries, for such period (exclusive of
all extraordinary, unusual, or nonrecurring charges, gains and losses
(including, without limitation, all restructuring costs and any expense or
charge related to the repurchase of capital stock or warrants or options to
purchase capital stock) and the related tax effects according to generally
accepted accounting principles ("GAAP")), as determined in accordance with GAAP
consistently applied, as such principles are in effect on the Effective Date,
plus (ii) amounts deducted from net revenues in determining such net income (or
loss) on account of (w) depreciation and amortization, (x)

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interest expense (net of interest income), (y) all taxes on income and (z) any
management or acquisition fee charged to the Company by the Principal
Stockholder. "Cumulative EBITDA" as of a given date shall mean the total of
EBITDA from and after January 1, 2003 through such date.

Section 1.8    Employment Date

         "Employment Date" shall mean August 11, 2003.

Section 1.9    Investment

         "Investment" shall mean any investment of funds by the Principal
Stockholder in debt and equity securities or instruments of the Company and its
Subsidiaries.

Section 1.10   Investor Return

         "Investor Return" shall mean the annual compounded pre-tax internal
rate of return on a given Investment determined with respect to the period
beginning on the initial date of such Investment and ending on the effective
date of a Change in Control.

Section 1.11   Management Stockholders' Agreement

         "Management Stockholders' Agreement" shall mean that certain Management
Stockholders' Agreement dated as of June 16, 2000 among the Company, Odyssey,
and the stockholder parties thereto, as amended from time to time.

Section 1.12   Odyssey

         "Odyssey" shall mean Odyssey Investment Partners Fund, L.P.

Section 1.13   Option

         "Option" shall mean the Incentive Stock Option to purchase Common Stock
granted under this Agreement.

Section 1.14   Person

         "Person" shall mean an individual, partnership, corporation, limited
liability company, business trust, joint stock company, trust, unincorporated
association, joint venture, governmental authority or other entity of whatever
nature.

Section 1.15   Plan

         "Plan" shall mean the 2000 Stock Option Plan of Dayton Superior
Corporation, as amended from time to time.

Section 1.16   Principal Stockholder

         "Principal Stockholder" shall mean (a) Odyssey and Odyssey Coinvestors,
LLC (together, the "Odyssey Stockholders"), (b) any general or limited partner
or member of any Odyssey Stockholder (an "Odyssey Partner"), (c) any
corporation, partnership, limited liability

Puisis Stock Option Agmt

                                        3
<PAGE>

company or other entity that is an Affiliate of any Odyssey Stockholder or of
any Odyssey Partner (collectively, the "Odyssey Affiliates"), (d) any managing
director, member, general partner, director, limited partner, officer or
employee of (i) any Odyssey Stockholder, (ii) any Odyssey Partner or (iii) any
Odyssey Affiliate, or the heirs, executors, administrators, testamentary
trustees, legatees or beneficiaries of any of the foregoing Persons referred to
in this clause (d) (collectively, the "Odyssey Associates"), (e) any trust, the
beneficiaries of which, or corporation, limited liability company or
partnership, the stockholders, members or general or limited partners of which,
include only Odyssey Stockholders, Odyssey Partners, Odyssey Affiliates, Odyssey
Associates, their spouses or their lineal descendants; and (f) a voting trustee
for one or more Odyssey Stockholders, Odyssey Affiliates, Odyssey Partners or
Odyssey Associates, provided that in no event shall the Company or any
Subsidiary be considered an Odyssey Partner, Odyssey Affiliate, or Odyssey
Associate and provided further that an underwriter or other similar intermediary
engaged by the Company in an offering of the Company's debt or equity securities
or other instruments shall not be deemed a Principal Stockholder with respect to
such engagement.

Section 1.17   Proceeds

         "Proceeds" shall mean the aggregate fair market value of the
consideration received (excluding any management or similar fees) by the
Principal Stockholder in connection with a Change in Control, after taking into
account all post closing adjustments, and assuming exercise of all options and
warrants outstanding as of the effective date of such Change in Control (after
giving effect to different dates of investment, if any, and after giving effect
to any dilution of securities or instruments arising in connection with such
Change in Control), provided however, that if the Principal Stockholder retains
any Investment or portion thereof following such Change in Control, the fair
market value of such Investment (or portion) immediately following such Change
in Control shall be deemed "consideration received" for purposes of calculating
the Proceeds, and provided further that the fair market value of any non-cash
consideration (including stock) shall be determined as of the date of such
Change in Control.

Section 1.18   Subsidiary

         "Subsidiary" of any entity shall mean any corporation in an unbroken
chain of corporations beginning with such entity if each of the corporations
other than the last corporation in the unbroken chain then owns stock possessing
50% or more of the total combined voting power of all classes of stock in one of
the other corporations in such chain.

Section 1.19   Target Amount

         "Target Amount" shall mean, with respect to any Investment, a dollar
amount representing:

         (a)      If the Investment was made on or prior to June 16, 2003, 2.25
times the amount of such Investment; and

         (b)      If the Investment was made on or after June 17, 2003, a 30%
Investor Return on such Investment.

         For purposes of calculating the Target Amount:

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         (x)      the amount of an Investment shall be the amount paid by such
Principal Stockholder to any Person (including, without limitation, the Company,
any Subsidiary, or any underwriter) for the purchase of such debt or equity
securities or instruments, provided that if such Principal Stockholder shall
have acquired such debt or equity securities or instruments directly from
another Principal Stockholder or through an uninterrupted series of Principal
Stockholders, the amount of such Investment shall be the amount initially paid
to purchase such debt or equity securities or instruments from a Person other
than a Principal Stockholder; and

         (y)      the initial date of an Investment shall be the date such
Principal Stockholder purchased such debt or equity securities or instruments
from any Person (including, without limitation, the Company, any Subsidiary, or
any underwriter), provided that if such Principal Stockholder acquired such debt
or equity securities or instruments directly from another Principal Stockholder
or through an uninterrupted series of Principal Stockholders, the initial date
of such Investment shall be the date such debt or equity securities or
instruments were initially acquired from a Person other than a Principal
Stockholder.

                                  ARTICLE II.
                                GRANT OF OPTION

Section 2.1    Grant of Option

         (a)      In consideration of the Optionee's agreement to become
employed by the Company and for other good and valuable consideration, effective
as of the Employment Date, the Company irrevocably grants to the Optionee the
Option to purchase any part or all of an aggregate of 55,000 shares of Common
Stock (the "Option"). Such Option remains subject to the terms and conditions
set forth in the Plan and this Agreement, as amended.

         (b)      Notwithstanding the foregoing, in the event the Optionee has
not entered into employment with the Company as of the Employment Date pursuant
to the terms of that certain Employment Agreement by and among the Company and
the Optionee and dated as of the Effective Date, the Option shall be canceled
and this Agreement shall be null and void in all respects.

Section 2.2    Option Subject to Plan

         The Option granted hereunder is subject to the terms and provisions of
the Plan, including without limitation, Article VI and Sections 8.1, 8.2, 8.3
and 8.5 thereof.

Section 2.3    Option Price

         The purchase price of the shares of Common Stock covered by the Option
shall be $24.00 per share (without commission or other charge).

                                  ARTICLE III.
                                 EXERCISABILITY

Section 3.1    Commencement of Exercisability

         (a)      Subject to subsections (e) and (f) and Section 3.3, 25% of the
Option shall become exercisable in three cumulative installments as follows:

Puisis Stock Option Agmt

                                        5

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                  (i)      The first installment shall consist of 8.33% of the
         shares covered by such Option and shall become exercisable on December
         31, 2003;

                  (ii)     The second installment shall consist of 8.33% of the
         shares covered by such Option and shall become exercisable on December
         31, 2004; and

                  (iii)    The third installment shall consist of 8.33% of the
         shares covered by such Option and shall become exercisable on December
         31, 2005.

         (b)      Subject to subsections (e) and (f) and Section 3.3, the
remaining 75% of the Option shall become exercisable in full on August 11, 2012
provided that the Optionee remains continuously employed in active service by
the Company from the Employment Date through such date.

         (c)      Notwithstanding Section 3.1(b), but subject to subsections (e)
and (f) and Section 3.3, 75% of the shares subject to the Option shall become
exercisable as follows:

                  (i)      Annual Performance Test. If the EBITDA for any fiscal
         year 2003 through 2007 equals or exceeds the EBITDA Target for such
         fiscal year, an installment consisting of 15% of the shares covered by
         the Option shall become exercisable on the Determination Date for such
         fiscal year.

                  (ii)     Missed Years and Catch-Up Opportunities. If any
         installment subject to exercisability pursuant to Section 3.1(c)(i)
         fails to become exercisable in accordance therewith, such installment
         shall become exercisable on the Determination Date for the first fiscal
         year thereafter ending on or prior to December 31, 2007 (if any) with
         respect to which fiscal year (x) the EBITDA for such fiscal year equals
         or exceeds the EBITDA Target for such year and (y) the Cumulative
         EBITDA through the last day of such fiscal year equals or exceeds the
         Cumulative EBITDA Target through such date, provided that in no event
         shall the Option become exercisable for greater than 100% of the shares
         subject thereto.

                  (iii)    Discretionary Catch-Up Opportunity. If any portion of
         the Option subject to accelerated vesting under this Section 3.1(c)
         remains unexercisable following the Determination Date for the fiscal
         year ending December 31, 2007, the Board may, in its discretion,
         provide that the vesting of such portion may accelerate subsequent to
         such Determination Date subject to the attainment of such performance
         targets or the satisfaction of such other terms and conditions as the
         Board may determine in its discretion.

         (d)      As of the Determination Date for each fiscal year 2003 through
2007, the Committee shall make the determination, in accordance with this
Section 3.1, as to whether the EBITDA Target and Cumulative EBITDA Target have
been met, and shall determine, in accordance with this Section 3.1, the extent,
if any, to which the Option has become exercisable. As soon as practicable
following the Determination Date, the Committee shall notify the Optionee of its
determinations and provide Optionee with a copy of the calculations supporting
the Committee's conclusions.

         (e)      Notwithstanding the foregoing provisions of this Section 3.1,
but subject to subsection (f) and Section 3.3, the Option shall become fully
vested and exercisable immediately

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                                        6

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prior to the effective date of a Change in Control through which the Principal
Stockholder receives Proceeds greater than or equal to the sum of the Target
Amounts with respect to all Investments.

         (f)      No portion of the Option which is unexercisable at Termination
of Employment shall thereafter become exercisable.

Section 3.2    Duration of Exercisability

         The installments provided for in Section 3.1 are cumulative. Each such
installment which becomes exercisable pursuant to Section 3.1 shall remain
exercisable until it is exercised or the Option expires pursuant to Section 3.3.

Section 3.3    Expiration of Option

         The Option may not be exercised to any extent by anyone after the first
to occur of the following events:

         (a)      The expiration of ten years from the Effective Date; or

         (b)      The 90th day following the date of the Optionee's Termination
of Employment for any reason other than for Cause (unless the Optionee dies
within said 90-day period, in which case the Option shall cease to be
exercisable upon the later of (i) the expiration of 90 days from the date of the
Optionee's death or (ii) such time as is necessary under the probate of the
Executive's estate); or

         (c)      Except as the Committee may otherwise approve, the date of the
Optionee's Termination of Employment by the Company for Cause.

Section 3.4    Partial Exercise

         Any exercisable portion of the Option or the entire Option, if then
wholly exercisable, may be exercised in whole or in part at any time prior to
the time when the Option or portion thereof becomes unexercisable; provided,
however, that each partial exercise shall be for not less than one hundred (100)
shares (or the total amount then exercisable pursuant to Section 3.1, if a
smaller number of shares) and shall be for whole shares only.

Section 3.5    Exercise of Option

         The exercise of the Option shall be governed by the terms of this
Agreement and the terms of the Plan, including, without limitation, the
provisions of Article VI of the Plan.

Section 3.6    Special Tax Consequences

         The Option is intended to be an Incentive Stock Option. The Optionee
acknowledges that, to the extent that the aggregate fair market value of stock
with respect to which "incentive stock options" (within the meaning of Section
422 of the Code, but without regard to Section 422(d) of the Code), including
the Option, are exercisable for the first time by the Optionee during any fiscal
year (under the Plan and all other stock option plans of the Company, any
Subsidiary and any parent corporation) exceeds $100,000, such options shall be
treated as not qualifying under Section 422 of the Code but rather shall be
treated and taxable as non-qualified

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options. The Optionee further acknowledges that the rule set forth in the
preceding sentence shall be applied by taking options into account in the order
in which they were granted, and the stock certificate issued upon exercise of
the options shall designate whether such stock was acquired upon exercise of an
Incentive Stock Option. For purposes of these rules, the fair market value of
stock shall be determined as of date of grant of the applicable option covering
such stock.

                                  ARTICLE IV.
                                OTHER PROVISIONS

Section 4.1    Not a Contract of Employment

         Nothing in this Agreement or in the Plan shall confer upon the Optionee
any right to continue in the employ of the Company or any of its Subsidiaries or
shall interfere with or restrict in any way the rights of the Company or its
Subsidiaries, which are hereby expressly reserved, to discharge the Optionee at
any time for any reason whatsoever, with or without Cause.

Section 4.2    Shares Subject to Plan and Management Stockholders' Agreement

         The Optionee acknowledges that any shares acquired upon exercise of the
Option are subject to the terms of the Plan and the Management Stockholders'
Agreement including without limitation, the restrictions set forth in Section
6.5 of the Plan. If the Optionee is not already a party to the Management
Stockholders' Agreement at the time he exercises all or part of the Option, such
exercise shall be conditioned upon the Optionee's delivery to the Company of
such Management Stockholders' Agreement, executed by the Optionee.

Section 4.3    Construction

         This Agreement shall be administered, interpreted and enforced under
the laws of the State of Ohio.

Section 4.4    Conformity to Securities Laws

         The Optionee acknowledges that the Plan is intended to conform to the
extent necessary with all provisions of the Securities Act and the Exchange Act
and any and all regulations and rules promulgated thereunder by the Securities
and Exchange Commission, including without limitation Rule 16b-3.

         Notwithstanding anything herein to the contrary, the Plan shall be
administered, and the Option is granted and may be exercised, only in such a
manner as to conform to such laws, rules and regulations. To the extent
permitted by applicable law, the Plan and this Agreement shall be deemed amended
to the extent necessary to conform to such laws, rules and regulations.

Section 4.5    Options Not Transferable

         The Option may not be sold, pledged, assigned or transferred in any
manner other than by will or the laws of descent and distribution or, subject to
the consent of the Committee, pursuant to a domestic relations order (as defined
by the Code or Title I of the Employee Retirement Income Security Act of 1974,
as amended, or the rules promulgated thereunder), unless and until such Option
has been exercised, or the shares underlying such Option have been issued, and
all

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<PAGE>

restrictions applicable to such shares have lapsed. No Option or interest or
right therein shall be liable for the debts, contracts or engagements of the
Optionee or Optionee's successors in interest or shall be subject to disposition
by transfer, alienation, anticipation, pledge, encumbrance, assignment or any
other means whether such disposition be voluntary or involuntary or by operation
of law by judgment, levy, attachment, garnishment or any other legal or
equitable proceedings (including bankruptcy), and any attempted disposition
thereof shall be null and void and of no effect, except to the extent that such
disposition is permitted by the preceding sentence.

Section 4.6    No Rights as Stockholder

         The Optionee shall not be, nor have any of the rights or privileges of,
a stockholder of the Company in respect of any shares purchasable upon the
exercise of any part of the Option unless and until certificates representing
such shares shall have been issued by the Company to the Optionee and the
Optionee's name has been entered as the shareholder of record with respect to
such shares on the books of the Company.

Section 4.7    Adjustments in Targets

         The EBITDA Targets and Cumulative EBITDA Targets specified in Appendix
A are based upon certain revenue and expense assumptions about the future
business of the Company as of the Effective Date. Accordingly, in the event
that, after the Effective Date, the Committee determines, in its sole
discretion, that any acquisition or any divestiture of any business by the
Company or any dividend or other distribution (whether in the form of cash,
Common Stock, other securities, or other property), recapitalization,
reclassification, stock split, reverse stock split, reorganization, merger,
consolidation, split-up, spin-off, combination, repurchase, or exchange of
Common Stock or other securities of the Company, issuance of warrants or other
rights to purchase Common Stock or other securities of the Company, or the
financial statements of the Company, or change in applicable laws, regulations,
or accounting principles occurs such that an adjustment is determined by the
Committee to be appropriate in order to prevent dilution or enlargement of the
benefits or potential benefits intended to be made available under the Plan or
with respect to the Option, then the Committee shall adjust the financial
targets set forth on Appendix A to reflect the projected effect of such
transaction(s) or event(s) on such targets. Without limiting the generality of
the foregoing, in the event the Company acquires any business: (a) with respect
to such acquired business, EBITDA and Cumulative EBITDA with respect to the
fiscal year in which such acquisition occurs shall be calculated pro-rata from
the date of such acquisition, and (b) in the event the Committee determines that
an adjustment to the targets set forth on Appendix A is appropriate, such
adjustment shall be made from the date of such acquisition and shall be made pro
rata with respect to the fiscal year in which such acquisition occurs.

Section 4.8    Conflict

         To the extent that there is any conflict between the terms of this
Agreement and the terms of the Management Stockholders' Agreement or the Plan,
this Agreement shall govern.

Section 4.9    Counterparts.

         This Agreement may be executed in several counterparts, each of which
shall be deemed to be an original, but all of which together shall constitute
one and the same Agreement.

                            [signature page follows]

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<PAGE>

                                                DAYTON SUPERIOR CORPORATION

                                                By:_____________________________

                                                Title:__________________________
                                                Date:___________________________

_______________________________
Optionee
_______________________________

_______________________________
Address
Date:

Optionee's Taxpayer Identification Number:____________________________

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<PAGE>

                                   APPENDIX A
                        INCENTIVE STOCK OPTION AGREEMENT
                                 EBITDA TARGETS
                                  ($ MILLIONS)

                         FISCAL YEAR ENDING DECEMBER 31

<TABLE>
<CAPTION>
      TARGET         2003    2004     2005     2006     2007
-----------------    ----    -----    -----    -----    -----
<S>                  <C>     <C>      <C>      <C>      <C>
EBITDA               55.0     63.0     78.0     92.0    103.0

CUMULATIVE EBITDA    55.0    118.0    196.0    288.0    391.0
</TABLE>

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                                       11