Document:

exv10w4

 

Exhibit 10.4

Stock Option Agreement (Sr. Mgmt)

2001 Plan

FY 2007 Stock Option Award

Dear [Full Name]:

     Effective May 10, 2007 you have been granted a Non-qualified Option to purchase up to [amount]
shares of the common stock, par value $.25 per share, of Centex Corporation (the “Company”) for
$[price] per share (the “Option”). This Option is granted under the Centex Corporation 2001 Stock
Plan (as such plan may be amended from time to time, the “Plan”). A copy of the Plan is available
to you upon request to the Law Department during the term of this Option. This Option will
terminate upon the close of business on May 10, 2014, unless earlier terminated as described herein
or in the Plan.

     This
Award will vest at the rate of
331/3% per year on each of March 31, 2008, March 31, 2009,
and March 31, 2010.1

     If for any reason you cease to be an employee of at least one of the employers in the group of
employers consisting of the Company and its Affiliates (i) this Option will immediately terminate
as to any unvested portion on the date of such cessation and (ii) any portion of this Option vested
but not exercised by you on or before such date of cessation may be exercised after such date only
as provided in the Plan.

     The Company may cancel and revoke this Option and/or replace it with a revised option at any
time if the Company determines, in its good faith judgment, that this Option was granted to you in
error or that this Option contains an error. In the event of such determination by the Company,
and written notice thereof to you at your business or home address, all of your rights and all of
the Company’s obligations as to any unvested portion of this Option shall immediately terminate.
If the Company replaces this Option with a revised option, then you will have all of the benefits
conferred under the revised option, effective at such time as the new option goes into effect.

     This Option is subject to the Plan, and the Plan will govern where there is any inconsistency
between the Plan and this Option. The provisions of the Plan are also provisions of this Option,
and all terms, provisions and definitions set forth in the Plan are incorporated in this Option and
made a part of this Option for all purposes. Capitalized terms used but not defined in this Option
will have the meanings assigned to such terms in the Plan. This Option is subject to the Company’s
Policy on Recoupment in Restatement Situations, and you agree that you will comply with the terms
of that Policy. This Option has been signed by Centex Corporation and delivered to you, and (when
signed by you) has been accepted by you effective as of May 10, 2007.

	 	 	 
	ACCEPTED

	 	CENTEX CORPORATION
	as of
        , 2007
	 	 
	 
	 	 
	 

	 	 
	 

	 	 
	[Full Name]

	 	[Name]
	 

	 	[Title]

 

			
	1	 	The vesting schedule for “discretionary
retention awards” is as follows: This Award will vest at the rate of
331/3% per year on each of March 31, 2009, 2010 and 2011.exv10w5

 

Exhibit 10.5

Sr. Management Restricted Stock

2003 Plan

FY 2007 Restricted Stock Award

Dear [Full Name]:

     Effective May 10, 2007 you have been awarded [amount] shares of the common stock, par value
$.25 per share, of Centex Corporation (the “Company”). This award (the “Award”) is made pursuant
to, and subject to the terms and conditions of, the Centex Corporation 2003 Equity Incentive Plan
(as such plan may be amended from time to time, the “Plan”). The Shares awarded hereby constitute
Shares of Restricted Stock under the Plan. A copy of the Plan is available to you upon request to
the Law Department.

     This Award will vest at the rate of 331/3% per year on each of March 31, 2009, March
31, 2010, and March 31, 2011.

     The restrictions set forth in the Plan and this Award will terminate coterminously with the
vesting described above, unless earlier terminated as described in the Plan or this Award. The
date on which the restrictions terminate as to vested shares is called the “Lapse Date”. Vested
Shares of Restricted Stock will become freely transferable on the day following the related Lapse
Date.

     You will forfeit all unvested Shares of Restricted Stock if, prior to the Lapse Date, you
cease for any reason to be an employee of at least one of the employers in the group of employers
consisting of the Company and its Affiliates. However, the restrictions set forth in the Plan and
this Award will terminate immediately and all of the shares covered by this Award will immediately
vest in the event of your death or permanent disability. Whether you have suffered a permanent
disability will be determined by the Committee, in its sole and absolute discretion. In the event
of your death, the person or persons to whom the Shares of Restricted Stock have been validly
transferred pursuant to will or the laws of descent and distribution will have all rights to the
Shares of Restricted Stock.

     The Company may cancel and revoke this Award and/or replace it with a revised award at any
time if the Company determines, in its good faith judgment, that this Award was granted in error or
that this Award contains an error. In the event of such determination by the Company, and written
notice thereof to you at your business or home address, all of your rights and all of the Company’s
obligations as to any unvested portion of this Award shall immediately terminate. If the Company
replaces this Award with a revised award, then you will have all of the benefits conferred under
the revised award, effective as of such time as the revised award goes into effect.

     This Award is subject to the Plan, and the Plan will govern where there is any inconsistency
between the Plan and this Award. The provisions of the Plan are also provisions of this Award, and
all terms, provisions and definitions set forth in the Plan are incorporated in this Award and made
a part of this Award for all purposes. Capitalized terms used but not defined in this Award will
have the meanings assigned to such terms in the Plan. This Award is subject to the Company’s
Policy on Recoupment in Restatement Situations, and you agree that you will comply with the terms
of that Policy. This Award has been signed by the Company and delivered to you, and (when signed
by you) has been accepted by you effective as of May 10, 2007.

	 	 	 
	ACCEPTED

	 	CENTEX CORPORATION
	as of         , 2007
	 	 
	 
	 	 
	 

	 	 
	 

	 	 
	[Full Name]

	 	[Name]
	 

	 	[Title]exv10w6

 

Exhibit 10.6

Employee Stock Units

2003 Plan

FY 2007 Stock Unit Award

Dear [Full Name]:

     You have been granted an Award as of May 10, 2007 of [amount] of Stock Units of Centex Corporation (the “Company”) under the Amended and Restated Centex Corporation
2003 Equity Incentive Plan (as such plan may be amended from time to time, the “Plan”). The Stock
Units awarded hereby will each be converted to a share of the common stock of the Company (“Share”)
following vesting, unless you have previously elected a deferred distribution date. Following
conversion, such Shares will be freely transferable. A copy of the Plan is available to you upon
request to the Law Department.

     This
Award will vest at the rate of 331/3% per year on each of March 31, 2008, March 31, 2009,
and March 31, 2010.1

     All Stock Units not then terminated will vest in full on March 31, 2010, unless earlier vested
as described in the Plan or this Award. The date on which a Stock Unit vests is called the
“Vesting Date”. Vested units not yet converted by you will automatically convert into Shares and
become freely transferable on May 10, 2014 or, if earlier, upon termination of employment (subject
to any delay required by Section 409A of the Code).

     You will forfeit all unvested Stock Units if you cease for any reason to be an employee of at
least one of the employers in the group of employers consisting of the Company and its Affiliates.
However, the restrictions set forth in the Plan and this Award will terminate immediately and all
Stock Units covered by this Award will immediately vest in the event of your death or permanent
disability. Whether you have suffered a permanent disability will be determined by the Committee,
in its sole and absolute discretion. In the event of your death, the person or persons to whom the
Stock Units have been validly transferred pursuant to will or the laws of descent and distribution
will have all rights to the Stock Units.

     The Company may cancel and revoke this Award and/or replace it with a revised award at any
time if the Company determines, in its good faith judgment, that this Award was granted in error or
that this Award contains an error. In the event of such determination by the Company, and written
notice thereof to you at your business or home address, all of your rights and all of the Company’s
obligations as to any unvested portion of this Award shall immediately terminate. If the Company
replaces this Award with a revised award, then you will have all of the benefits conferred under
the revised award, effective as of such time as the revised award goes into effect.

     This Award is subject to the Plan, and the Plan will govern where there is any inconsistency
between the Plan and this Award. The provisions of the Plan are also provisions of this Award, and
all terms, provisions and definitions set forth in the Plan are incorporated in this Award and made
a part of this Award for all purposes. Capitalized terms used but not defined in this Award will
have the meanings assigned to such terms in the Plan. This Award is subject to the Company’s
Policy on Recoupment in Restatement Situations, and you agree that you will comply with the terms
of that Policy.

     This Award has been signed the Company and delivered to you, and (when signed by you) has been
accepted by you effective as of May 10, 2007.

	 	 	 
	ACCEPTED

	 	CENTEX CORPORATION
	as of         , 2007
	 	 
	 
	 	 
	 

	 	 
	 

	 	 
	[Name]

	 	[Name]
	 

	 	[Title]

 

			
	1	 	The vesting schedule for “discretionary
retention awards” is as follows: This Award will vest at the rate of
331/3% per year on each of March 31, 2009, 2010, and 2011.

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