Document:

EX-10.1

 Exhibit 10.1 

Executive Compensation Notification 

Chairman, Chief Executive Officer and Chief Operating Officer 

2015 Fiscal Year Compensation Program of Chairman, Chief Executive Officer and Chief Operating Officer. 

2015 Fiscal Year Base Salaries: Table I below sets forth the 2015 fiscal year base salaries for Mr. Horton, Mr. Auld
and Mr. Murray. 
 Table I 
  

									
	 Name
	  	 Office
	  	Annual Base Salary
(2015 Fiscal Year)	 	  	Performance Bonus
(2015 Fiscal Year)
	 Donald R. Horton
	  	Chairman of the Board	  	$	1,000,000	  	  	See Below
	 David V. Auld
	  	President and CEO	  	$	700,000	  	  	See Below
	 Michael J. Murray
	  	Executive Vice President and COO	  	$	500,000	  	  	See Below

 2015 Fiscal Year Annual Performance Bonus: The Compensation Committee approved
performance-based goals for measuring short-term performance bonuses that may be earned by Mr. Horton, Mr. Auld and Mr. Murray during the 2015 fiscal year. The 2015 performance goals were established under the Company’s 2000
Amended and Restated Incentive Bonus Plan. The 2015 fiscal year performance goal for Mr. Horton, Mr. Auld and Mr. Murray relates to achieving positive consolidated pre-tax income as set forth below. 

Annual Performance Bonus – Performance Related to Pre-Tax Income: 

Mr. Horton. Under the 2015 fiscal year performance bonus program, Mr. Horton has the opportunity to earn the following
performance-based bonus: 
  

	 	(1)	Up to 0.6% of Pre-Tax Income of the Company for the six-month period ending March 31, 2015 (but not below $0), and 

  

	 	(2)	Up to 0.6% of Pre-Tax Income of the Company for the six-month period ending September 30, 2015 (but not below $0). 

 Mr. Auld. Under the 2015 fiscal year performance bonus program, Mr. Auld
has the opportunity to earn the following performance-based bonus: 
  

	 	(1)	Up to 0.35% of Pre-Tax Income of the Company for the six-month period ending March 31, 2015 (but not below $0), and 

  

	 	(2)	Up to 0.35% of Pre-Tax Income of the Company for the six-month period ending September 30, 2015 (but not below $0). 

Mr. Murray. Under the 2015 fiscal year performance bonus program, Mr. Murray has the opportunity to earn the following
performance-based bonus: 
  

	 	(1)	Up to 0.1% of Pre-Tax Income of the Company for the six-month period ending March 31, 2015 (but not below $0), and 

  

	 	(2)	Up to 0.1% of Pre-Tax Income of the Company for the six-month period ending September 30, 2015 (but not below $0). 

“Pre-Tax Income” shall mean income before income taxes, as publicly reported by the Company in its quarterly or annual
financial statements, as applicable, prepared in accordance with generally accepted accounting principles. The financial statements shall mean the consolidated financial statements of the Company. 

At the end of the 2015 fiscal year, the Committee may use its sole discretion to adjust downward, in part or in whole, the Annual Performance
Bonus based on performance of the Company, including the annual amount of Pre-Tax Income earned and performance of the participant. Provided that for the fiscal year ending September 30, 2015 no more than 0.6% of Pre-Tax Income for the year
shall be paid to Mr. Horton, no more than 0.35% of Pre-Tax Income for the year shall be paid to Mr. Auld and no more than 0.1% of Pre-Tax Income for the year shall be paid to Mr. Murray. 

Other Long-Term Benefits. 

Mr. Horton, Mr. Auld and Mr. Murray may participate in two separate deferred compensation plans. The first plan allows the
executive to make voluntary income deferrals. The second plan is a promise by the Company to pay benefits to the executive. If the executive is employed by the Company on the last day of the current fiscal year (for example September 30, 2015),
then the Company will establish a liability to him equal to 10% of his annual base salary as of the first day of the current fiscal year (for example October 1, 2014). This liability will accrue earnings in future years at a rate established by
the administrative committee.EX-10.2

 Exhibit 10.2 

Summary of Executive Compensation Notification 

Other Executive Officer – Chief Financial Officer 

2015 Fiscal Year Compensation of Other Named Executive Officer. 

The Board of Directors also established and approved the 2015 fiscal year annual base salary of our other named executive officer. The salary
and other compensation approved are as set forth below in Table II. 
 Table II 

 

									
	 Name
	  	 Office
	  	Annual Base Salary
(2015 Fiscal Year)	 	  	Discretionary
Bonus Plan
(2015 Fiscal Year)
	 Bill W. Wheat
	  	Executive Vice President and CFO	  	$	500,000	  	  	See Note II

 Note II: 

The Board of Directors may award discretionary bonuses to Mr. Wheat based on his performance in fiscal 2015. In addition, Mr. Wheat
may participate in two separate deferred compensation plans. The first plan allows the executive to make voluntary income deferrals. The second plan is a promise by the Company to pay benefits to the executive. If the executive is employed by the
Company on the last day of the current fiscal year (for example September 30, 2015), then the Company will establish a liability to him equal to 10% of his annual base salary as of first day of the current fiscal year (for example
October 1, 2014). This liability will accrue earnings in future years at a rate established by the administrative committee.EX-10.3

 Exhibit 10.3 

Summary of Director, Committee and Chairperson Compensation 

The Board of Directors of the Company approved cash director fees, committee member fees and chairperson fees to be paid to non-management
directors of the Company in the 2015 fiscal year. Director fees, committee fees and chairperson fees are only paid to non-management directors as summarized below: 

Each non-management director will receive a director fee of $15,000 per Board meeting attended in person or by tele-conference, paid quarterly
and not to exceed $60,000 per year. 
 Each non-management director who serves on a committee of the Board of Directors will receive a fee of
$1,250 per committee meeting attended in person or by tele-conference, paid quarterly and not to exceed $5,000 per year. 
 Each
non-management director who serves as the chairperson of a committee of the Board of Directors shall receive a fee of $625 per committee meeting attended in person or by tele-conference, paid quarterly and not to exceed $2,500 per year.EX-10.4

 Exhibit 10.4 

D.R. HORTON, INC. 

RESTRICTED STOCK UNIT AGREEMENT 

[EMPLOYEE] 

                , 20     

D.R. Horton, Inc. (the “Company”), a Delaware corporation, pursuant to the Amended and Restated 2006
Stock Incentive 2006 SIP (the “2006 SIP”), hereby grants
                     (the “Participant”) a Restricted Stock
Unit Award (“Award”) as set forth below. This Award is subject to the terms and conditions set forth in this Restricted Stock Unit Award Agreement (the “Agreement”) and in the 2006 SIP (a
copy of which is attached to this Agreement). The Administrator of this Award under the 2006 SIP is the Board of Directors (the “Board”) of the Company and it shall determine or resolve any conflicts in this Agreement,
the 2006 SIP, and any Tax Deferral Notice (defined below) under Section 2. Capitalized terms not defined herein are defined in the 2006 SIP. 
 1.
Terms. Each Restricted Stock Unit represents the right to receive one Share (as adjusted from time to time pursuant to the 2006 SIP) subject to fulfillment of the vesting, settlement and other conditions set forth in this Agreement. 

 

			
	Participant:	  	 
		
	 Number of Non-Statutory
Restricted Stock Units
(singular “RSU” or
collectively
“RSUs”):
	  	 
		
	Date of Award:	  	 
		
	Vesting Dates:	  	 
		  	 
		  	 
		
	Settlement Dates:	  	 
		  	 
		  	 

 2. Settlement and Tax Deferral Election. Each vested RSU will be settled by the delivery of one
Share (subject to adjustment under the 2006 SIP) to the Participant or, in the event of the Participant’s death, to the Participant’s estate or heirs, on the applicable Settlement Date; provided that the Participant has satisfied all
obligations with regard to the Tax-Related Items (as defined below) in connection with the Award, and that the Participant has completed, signed and returned any documents and taken any additional action that the Company deems appropriate to enable
it to accomplish the delivery of the Shares. No fractional shares will be issued under this Agreement. 
 Within thirty (30) days of
the Date of Award, the Participant may elect to defer settlement of part of or all of the RSUs. The Participant shall provide a written notice (the “Tax Deferral Notice”) to the Company setting forth the
Participant’s tax deferral election. If the Participant elects to defer settlement pursuant to this Section 2, the vested Shares will be settled on the Settlement Date(s) set forth in the attached Tax Deferral Notice. 

3. Status of Award. Until the RSUs vest and are converted into Shares and such Shares are settled to the Participant pursuant to the terms of
this Agreement, the Participant will have no rights as a stockholder of the Company with respect to the Shares subject to the Award (including, without limitation, no voting or dividend rights with respect to such Shares). Following the conversion
of the RSUs to Shares and the settlement of such Shares to the Participant hereunder, the Participant will be recorded as a stockholder of the Company with respect to such Shares and shall have all voting rights and rights to dividends and other
distributions with respect to such Shares. 

  
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 4. Cease to Serve as Executive Officer. If the Participant’s status as an executive officer of
the Company ceases, terminates or concludes for any reason, other than a termination related to Participant’s retirement, disability, death, or Change in Control, the Participant’s RSUs shall immediately cease to vest and any rights to the
underlying Shares shall be forfeited on the effective date of such termination. The Board shall have the exclusive discretion to determine when the Participant’s continuous status as an executive officer has terminated for purposes of this
Award. Upon such a termination, all unvested RSUs subject to this Award shall be forfeited by the Participant and cancelled and surrendered to the Company without payment of any consideration. If 12 months has passed since September 30,
20    , the Grantee’s separation from service is due to voluntary (without cause) or involuntary (without cause) termination or resignation before September 30, 20    , then the Grantee will be paid
a number of RSUs determined on a pro-rata basis based on the number of full months completed from October 1, 20     to the date of separation of service. For purposes of this Section 4, “pro-rata portion”
means a percentage, where the numerator is the number of full months completed between October 1, 20     and the date of the Grantee’s separation of service, and the denominator is 36 months. 

5. Retirement, Disability, Death or Change in Control. In the event of any of (i) Participant’s retirement (at normal retirement age
of 65 years old) from the Company, (ii) Participant’s disability, (iii) Participant’s death, or (iv) a Change in Control of the Company, then in each case, all the RSUs subject to this Award, if the Participant shall have
been in continuous status as an executive officer since the Date of Award, shall vest in full. A “Change in Control” shall mean a Change in Control as defined in the Participant’s Stock Option Agreement, dated September 2, 2011,
which was approved by the Board under the 2006 SIP. 

  
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 6. Board Authority. Any question concerning the interpretation of this Agreement, the 2006 SIP, the
Tax Deferral Notice, any adjustments required to be made under the 2006 SIP, any controversy that may arise under the 2006 SIP or this Agreement shall be determined by the Company’s Board of Directors in its sole and absolute discretion. Such
decision shall be final and binding. 
 7. Transfer Restrictions. Any sale, transfer, assignment, encumbrance, pledge, hypothecation,
conveyance in trust, gift, transfer by bequest, devise or descent, or other transfer or disposition of any kind, whether voluntary or by operation of law, directly or indirectly, of RSUs or Shares subject thereto prior to the date such Shares are
issued to the Participant pursuant to this Agreement shall be strictly prohibited and void. Any Shares held by the Participant shall not be pledged or otherwise encumbered as long as the Participant is an executive officer. 

8. Securities Law Compliance. The Company may impose such restrictions, conditions or limitations as it determines appropriate as to the timing
and manner of any resales or other subsequent transfers of any Shares issued as a result of or under this Award, including without limitation (i) restrictions under an insider trading policy, (ii) restrictions that may be necessary in the
absence of an effective registration statement under the Securities Act of 1933, as amended, or any other similar applicable law covering the Award and/or the Shares underlying the Award, and (iii) restrictions as to the use of a specified
brokerage firm or other agent for such resales or other transfers. Any sale of the Shares must also comply with other applicable laws and regulations governing the sale of such Shares. 

9. Certain Conditions of the Award. The Participant agrees that he or she will not acquire Shares pursuant to the Award or transfer, assign,
sell or otherwise deal with such Shares except in compliance with applicable law. Further, in accepting the Award, the Participant acknowledges that: 

  
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	 	(a)	The 2006 SIP is established voluntarily by the Company, it is discretionary in nature and it may be modified, amended, suspended or terminated by the Company at any time; 

 

	 	(b)	The grant of the Award is voluntary and occasional and does not create any contractual or other right to receive future grants of awards, or benefits in lieu of awards, even if awards have been granted repeatedly in the
past. All decisions with respect to future award grants, if any, will be at the sole discretion of the Company; 

  

	 	(c)	The Award and the Participant’s participation in the 2006 SIP will not be interpreted to form an employment contract or service contract or relationship with the Company or any Affiliate; 

 

	 	(d)	The Participant is voluntarily participating in the 2006 SIP; and 

  

	 	(e)	The future value of the underlying Shares is unknown and cannot be predicted with certainty. 

 10. Tax
Withholding. 
  

	 	(a)	 Responsibility for Taxes. Regardless of any action taken by the Company with respect to any or all income tax, social insurance, payroll tax,
payment on account or other tax-related items related to the Participant’s participation in the 2006 SIP and legally applicable to the Participant (the “Tax-Related Items”), the Participant acknowledges
that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company. The Participant further acknowledges that the Company (a) makes no
representations or undertakings regarding the treatment of any Tax-Related Items in connection with any 

  
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aspect of the Award, including but not limited to, the grant, vesting or settlement of the Award, the subsequent sale of Shares acquired pursuant to such settlement, or the receipt of any
dividends, and (b) does not commit to and are under no obligation to structure the terms of the grant or any aspect of the Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result.
Further, if the Participant has become subject to tax in more than one jurisdiction between the Date of Award and the date of any relevant taxable or tax withholding event, as applicable, the Participant acknowledges that the Company may be required
to withhold or account for Tax-Related Items in more than one jurisdiction. 

 The Company may refuse to issue, deliver or settle the Shares
or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items. 
  

	 	(b)	Withholding in Shares. Subject to applicable law, the Company may require the Participant to satisfy Tax-Related Items by deducting from the Shares otherwise deliverable to the Participant in settlement of the
Award a number of whole Shares having a fair market value, as defined in the 2006 SIP, as of the date on which the Tax-Related Items arise, not in excess of the amount of such Tax-Related Items. 

To avoid negative accounting treatment, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory
withholding amounts or other applicable withholding rates. For tax purposes, the Participant is deemed to have been issued the full number of Shares subject to the vested Award, notwithstanding that a number of the Shares are held back solely for
the purpose of paying the Tax-Related Items due as a result of any aspect of the Participant’s participation in the 2006 SIP. 

  
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	 	(c)	Alternative Withholding Methods. The Company may satisfy its obligations for Tax-Related Items by: 

  

	 	(i)	withholding from the Participant’s cash compensation or fees paid to the Participant by the Company; or 

  

	 	(ii)	withholding from proceeds of the sale of Shares acquired upon vesting or settlement of the Award either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf
pursuant to this authorization). 

 11. Delivery of Documents and Notices. Any document relating to participation in the 2006
SIP or any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given (except to the extent that this Agreement provides for effectiveness only upon actual receipt of such notice) upon personal delivery,
electronic delivery at the e-mail address, if any, provided for the Participant by the Company or an Affiliate, or upon deposit in the U.S. Post Office, by registered or certified mail, or with a nationally recognized overnight courier service, with
postage and fees prepaid, addressed to the other party at the address shown below that party’s signature to this Agreement or at such other address as such party may designate in writing from time to time to the other party. 

 

	 	(a)	Description of Electronic Delivery. The 2006 SIP documents, which may include but do not necessarily include: the 2006 SIP, this Agreement, the 2006 SIP Prospectus, and any reports of the Company provided generally to
the Company’s stockholders, may be delivered to the Participant electronically. Such means of electronic delivery may include but do not necessarily include the delivery of a link to a Company intranet or the internet site of a third party
involved in administering the 2006 SIP, the delivery of the document via e-mail or such other means of electronic delivery specified by the Company. 

  
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	 	(b)	Consent to Electronic Delivery. The Participant acknowledges that the Participant has read the “Delivery of Documents and Notices” section of this Agreement and consents to the electronic delivery of the 2006
SIP documents and Agreement, as described in this section. The Participant acknowledges that he or she may receive from the Company a paper copy of any documents delivered electronically at no cost to the Participant by contacting the Company by
telephone or in writing. The Participant further acknowledges that the Participant will be provided with a paper copy of any documents if the attempted electronic delivery of such documents fails. Similarly, the Participant understands that the
Participant must provide the Company or any designated third party administrator with a paper copy of any documents if the attempted electronic delivery of such documents fails. The Participant may revoke his or her consent to the electronic
delivery of documents described in this section or may change the electronic mail address to which such documents are to be delivered (if Participant has provided an electronic mail address) at any time by notifying the Company of such revoked
consent or revised e-mail address by telephone, postal service or electronic mail. Finally, the Participant understands that he or she is not required to consent to electronic delivery of documents as described in this section. 

12. Severability. The provisions of this Agreement are severable and if any one or more provisions are determined to be illegal or otherwise
unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable. 
 13. Governing Law; Venue. This
Agreement shall be construed, interpreted and enforced in accordance with the laws of the State of Delaware, without regard to its conflict of laws rules. For purposes of litigating any dispute that arises directly or indirectly from the
relationship of the 

  
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parties evidenced by this Award or this Agreement, the parties hereby submit to and consent to the exclusive jurisdiction of the State of Texas and agree that such litigation shall be conducted
only in the courts of Tarrant County, Texas, or the federal courts for the United States for the State of Texas, and no other courts, where this Award is made and/or to be performed. 

14. Imposition of Other Requirements. The Company reserves the right to impose other requirements on the Participant’s participation in the
2006 SIP, on this Award and on any Shares acquired under the 2006 SIP and this Agreement, to the extent the Company determines it is necessary or advisable in order to comply with applicable law or facilitate the administration of the 2006 SIP, and
to require the Participant to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing. Any conflicts in terms or provisions to the Participant’s individual Agreement as compared to this form of Agreement
shall be interpreted in favor of the Participant. 
 [Signature Page Follows] 

  
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 Acceptance. The Participant hereby acknowledges, agrees and accepts the RSUs
pursuant to this Agreement. 
  

					
	 	 	COMPANY:
		
		 	D.R. HORTON, INC., a Delaware corporation
			
		 	By:	 	  

		 		 	                                     
   , Chairman of the Board
			
		 	Date:	 	  

			
		 	By:	 	  

		 		 	                                     
   , Chairman of the
		 		 	Compensation Committee
			
		 	Date:	 	  

		
		 	PARTICIPANT:
			
		 	By:	 	  

		 		 	[Name and Title of Participant]
			
		 	Date:	 	  

 [Signature Page to Restricted Stock Unit Agreement] 

  
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