Document:

Eagle Materials Inc. Director Compensation Summary.

 Exhibit 10.1 
 EAGLE MATERIALS INC. 
 Non-Employee Directors — Compensation Summary

 Effective August 2011 to July 2012 
 On an annual basis, each non-employee director of Eagle Materials Inc. (the “Company”) may select one of the following compensation packages for his or her performance of director services
during the next 12 months: 
  

	 	(1)	total annual compensation valued at $150,000, of which $75,000 is paid in cash and the remainder is provided in the form of an equity grant valued at $75,000; or

  

	 	(2)	an equity grant valued at $170,000. 

 The equity grant under either alternative is comprised of options to purchase common stock of the Company, par value $0.01 (“Common Stock”). In accordance with the terms of the Eagle Materials
Inc. Incentive Plan (as in effect on the date of grant), the exercise price of the stock options is set at the average of the high and low price of the Common Stock on the New York Stock Exchange on the date of grant. The number of option shares
granted is determined as of the date of the grant by using the Black-Scholes method. All options are fully exercisable when granted and have a ten-year term. 
 Non-employee directors who chair committees of the Board of Directors receive additional annual compensation. The Governance Committee Chair receives a fee of $10,000 per year. The chairs of the Audit
Committee and the Compensation Committee each receive a fee of $15,000 per year. The Chairman of the Board of Directors receives a fee $50,000 per year. Chairpersons who elect to receive all Board compensation in the form of equity may also elect to
receive this additional compensation in the form of options to purchase Common Stock, in which case a 26.67% premium is added to such fees when valuing the number of options to be received by such chairperson. 

If directors hold restricted stock units (“RSUs”) granted as part of director compensation in prior fiscal years (which
includes all directors other than Ed Bowman and Richard Stewart), these directors will receive dividend equivalent units as and when the Company issues a cash dividend on the Common Stock in accordance with the terms of the RSUs. 

All directors are reimbursed for reasonable expenses of attending meetings.Form of Non-Qualified Stock Option Agreement.

 Exhibit 10.2 
 EAGLE MATERIALS INC. 
 INCENTIVE PLAN 

NON-QUALIFIED STOCK OPTION AGREEMENT 
 This option agreement (the “Option Agreement” or “Agreement”) entered into between EAGLE MATERIALS INC., a Delaware corporation (the
“Company”), and             (the “Optionee”), an employee of the Company or its Affiliates, with respect to a right (the “Option”) awarded to the Optionee
under the Eagle Materials Inc. Incentive Plan, as amended (the “Plan”), on June 27, 2011, (the “Award Date”) to purchase from the Company up to but not exceeding in the aggregate
            shares of the Company’s common stock, par value $0.01 per share (the “Common Stock”), at a price of $27.53 per share (the “Exercise Price”), such number
of shares and such price per share being subject to adjustment as provided in the Plan, and further subject to the following terms and conditions: 
  

	 	1.	Relationship to Plan. 

 This Option is subject to all of the terms, conditions and provisions of the Plan and administrative interpretations thereunder, if any, which have been adopted by the Company’s Compensation
Committee (“Committee”) and are in effect on the date hereof. Except as defined herein, capitalized terms shall have the same meanings ascribed to them under the Plan. For purposes of this Option Agreement: 

(a) “Disability” shall have the meaning assigned to such term under the Plan, however, in the case of a non-employee
Director, for purposes of this Agreement, Disability shall be determined by the Committee. 
 (b) “Retirement”
shall mean a retirement approved by the Board. 
 (c) “Service Vesting Date” means the first, second or third
anniversary of the Award Date, as applicable. 
 (d) “Vesting Period” means the period commencing on the Award
Date and ending on the date on which the Award may fully vest in accordance with the schedule provided in Section 2(a). 
  

	 	2.	Vesting and Exercise Schedules. 

 (a) Exercisability. One-third of the shares of Common Stock covered by this Option (“Option Shares”) shall vest and become exercisable on the first Service Vesting Date, one-third
of the Option Shares shall vest and become exercisable on the second Service Vesting Date, and one-third of the Option Shares shall vest and become exercisable on the third Service Vesting Date. The Optionee must be in continuous service as an
employee of the Company or any of its Affiliates or as a Director from the Award Date through the applicable Service Vesting Date on which the portion of the Option Shares would otherwise become exercisable in order for the Option to become
exercisable with respect to that portion of the Option Shares, otherwise such Option Shares shall be forfeited. Notwithstanding 

 
the foregoing, in the event the Optionee’s employment and, if applicable, service as a Director terminates by reason of death, Disability or Retirement, and in any such case such termination
follows the Award Date and is prior to any Service Vesting Date, any then exercisable Option Shares shall continue to be exercisable for a period of two years following such termination, and any unexercisable Option Shares shall continue to become
exercisable as if the Optionee had remained employed or continued to serve as a Director for a period of two years following such termination. 
 To the extent the Option becomes exercisable, such Option may be exercised in whole or in part (at any time or from time to time, except as otherwise provided herein) until expiration of the Option
pursuant to the terms of this Agreement or the Plan. 
 (b) Change in Control. This Option shall become fully vested and
exercisable, without regard to the limitations set forth in subparagraph (a) above, provided that the Optionee has been in continuous employment with the Company or any of its Affiliates or served as a Director from the Award Date through the
occurrence of a Change in Control (as defined in Exhibit A to this Agreement), with respect to any Option Shares which have not been previously forfeited, unless either (i) the Committee determines that the terms of the transaction
giving rise to the Change in Control provide that the Option is to be replaced within a reasonable time after the Change in Control with an option of equivalent value to purchase shares of the surviving parent corporation or (ii) the Option is
to be settled in cash in accordance with the last sentence of this subparagraph (b). Upon a Change in Control, pursuant to Section 16 of the Plan, the Company may, in its discretion, settle the Option by a cash payment equal to the difference
between the Fair Market Value per share of Common Stock on the settlement date and the Exercise Price for the Option, multiplied by the number of shares then subject to the Option. 

 

	 	3.	Termination of Option. 

 The Option hereby granted shall terminate and be of no force and effect with respect to any Option Shares not previously purchased by the Optionee at the earliest time specified below: 

(a) the tenth anniversary of the Award Date; 
 (b) if Optionee’s employment with the Company and its Affiliates or service as a Director is terminated by the Company or a Subsidiary for “cause” (as determined by the Committee) at any
time after the Award Date, then the Option shall terminate immediately upon such termination of Optionee’s employment; 

(c) if Optionee’s employment with the Company and its Affiliates and, if applicable, service as a Director is terminated for any
reason other than death, Disability, Retirement or termination for “cause,” then the Option shall terminate on the first business day following the expiration of the 90-day period beginning on such date of termination; or 

(d) if Optionee’s employment with the Company and its Affiliates and, if applicable, service as a Director is terminated due to the
death, Disability or Retirement of the Optionee, and in any such case such termination is at any time after the Award Date, then the Option shall terminate on the later of (i) the first business day following the expiration of the two-year
period following such termination and (ii) with respect to any Option Shares which become exercisable after such termination, the first business day following the expiration of the 90-day period beginning on the date the Options Shares first
become exercisable. 

  
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	 	4.	Exercise of Option. 

 Subject to the limitations set forth herein and in the Plan, this Option may be exercised by notice provided to the Company as set forth in Section 5. The payment of the Exercise Price for the Common
Stock being purchased pursuant to the Option shall be made (a) in cash, by check or cash equivalent, (b) by tender to the Company, or attestation to the ownership, of Common Stock owned by the Optionee having a Fair Market Value (as
determined by the Company without regard to any restrictions on transferability applicable to such Common Stock by reason of federal or state securities laws or agreements with an underwriter for the Company) not less than the Exercise Price,
(c) by delivery of a properly executed notice together with irrevocable instructions to a broker providing for the assignment to the Company of the proceeds of a sale or loan with respect to some or all of the shares being acquired upon the
exercise of the Option (including, without limitation, through an exercise complying with the provisions of Regulation T as promulgated from time to time by the Board of Governors of the Federal Reserve System), (d) by such other consideration
as may be approved by the Board from time to time to the extent permitted by applicable law, or (e) by any combination thereof. Such notice shall be accompanied by cash or Common Stock in the full amount of all federal and state withholding or
other employment taxes applicable to the taxable income of such Optionee resulting from such exercise (or instructions to satisfy such withholding obligation by withholding Option Shares in accordance with Section 8). 

Notwithstanding anything to the contrary contained herein, the Optionee agrees that he will not exercise the Option granted pursuant
hereto, and the Company will not be obligated to issue any Option Shares pursuant to this Option Agreement, if the exercise of the Option or the issuance of such shares would constitute a violation by the Optionee or by the Company of any provision
of any law or regulation of any governmental authority or any stock exchange or transaction quotation system. The Optionee agrees that, unless the options and shares covered by the Plan have been registered pursuant to the Securities Act of 1933, as
amended, the Company may, at its election, require the Optionee to give a representation in writing in form and substance satisfactory to the Company to the effect that he is acquiring such shares for his own account for investment and not with a
view to, or for sale in connection with, the distribution of such shares or any part thereof. 
 If any law or regulation
requires the Company to take any action with respect to the shares specified in such notice, the time for delivery thereof, which would otherwise be as promptly as reasonably practicable, shall be postponed for the period of time necessary to take
such action. 
  

	 	5.	Notices. 

 Notice of exercise of the Option must be made in the following manner, using such forms as the Company may from time to time provide: 

(a) by electronic means as designated by the Committee, in which case the date of exercise shall be the date when receipt is acknowledged
by the Company; 
 (b) by registered or certified United States mail, postage prepaid, to Eagle Materials Inc., Attention:
Secretary, 3811 Turtle Creek, Suite 1100, Dallas, Texas 75219, in which case the date of exercise shall be the date of mailing; or 
 (c) by hand delivery or otherwise to Eagle Materials Inc., Attention: Secretary, 3811 Turtle Creek, Suite 1100, Dallas, Texas 75219, in which case the date of exercise shall be the date when receipt is
acknowledged by the Company. 

  
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 Notwithstanding the foregoing, in the event that the address of the Company is changed prior
to the date of any exercise of this Option, notice of exercise shall instead be made pursuant to the foregoing provisions at the Company’s current address. 
 Any other notices provided for in this Agreement or in the Plan shall be given in writing or by such electronic means, as permitted by the Committee, and shall be deemed effectively delivered or given
upon receipt or, in the case of notices delivered by the Company to the Optionee, five days after deposit in the United States mail, postage prepaid, addressed to the Optionee at the address specified at the end of this Agreement or at such other
address as the Optionee hereafter designates by written notice to the Company. 
  

	 	6.	Assignment of Option. 

 Except as otherwise permitted by the Committee, the rights of the Optionee under the Plan and this Agreement are personal; no assignment or transfer of the Optionee’s rights under and interest in
this Option may be made by the Optionee otherwise than by will, by beneficiary designation, by the laws of descent and distribution or by a qualified domestic relations order; and this Option is exercisable during his lifetime only by the Optionee,
except as otherwise expressly provided in this Agreement. 
 After the death of the Optionee, exercise of the Option shall be
permitted only by the Optionee’s designated beneficiary or, in the absence of a designated beneficiary, the Optionee’s executor or the personal representative of the Optionee’s estate (or by his assignee, in the event of a permitted
assignment) to the extent that the Option is exercisable on or after the date of the Optionee’s death, as set forth in Sections 2(a) and 3(d) hereof. 
  

	 	7.	Stock Certificates. 

 Certificates or other evidences of or representing the Common Stock issued pursuant to the exercise of the Option will bear all legends required by law and necessary or advisable to effectuate the
provisions of the Plan and this Option. 
  

	 	8.	Withholding. 

 No certificates representing shares of Common Stock purchased hereunder shall be delivered to or in respect of an Optionee unless the amount of all federal, state and other governmental withholding tax
requirements imposed upon the Company with respect to the issuance of such shares of Common Stock has been remitted to the Company or unless provisions to pay such withholding requirements have been made to the satisfaction of the Committee. The
Committee may make such provisions as it may deem appropriate for the withholding of any taxes which it determines is required in connection with this Option. The Optionee may pay all or any portion of the taxes required to be withheld by the
Company or paid by the Optionee in connection with the exercise of all or any portion of this Option by delivering cash, or, pursuant to Committee – approved procedures, by electing to have the Company withhold shares of Common Stock, or by
delivering previously owned shares of Common Stock sufficient to satisfy the tax withholding obligation. The Optionee must make the foregoing election on or before the date that the amount of tax to be withheld is determined. 

  
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	 	9.	Shareholder Rights. 

 The Optionee shall have no rights of a shareholder with respect to shares of Common Stock subject to the Option unless and until such time as the Option has been exercised and ownership of such shares of
Common Stock has been transferred to the Optionee. 
  

	 	10.	Successors and Assigns. 

 This Agreement shall bind and inure to the benefit of and be enforceable by the Optionee, the Company and their respective permitted successors and assigns (including personal representatives, heirs and
legatees), except that the Optionee may not assign any rights or obligations under this Agreement except to the extent and in the manner expressly permitted herein. 
  

	 	11.	No Employment Guaranteed. 

 No provision of this Option Agreement shall confer any right upon the Optionee to continued employment with the Company or any Subsidiary. 

 

	 	12.	Governing Law. 

 This Option Agreement shall be governed by, construed and enforced in accordance with the laws of the State of Texas. 
  

	 	13.	Amendment. 

This Agreement cannot be modified, altered or amended except by an agreement, in writing, signed by both the Company and the Optionee.

  

									
		 		 	EAGLE MATERIALS INC.
					
	 Date:
	 	  
	 		 	By:	 	  

		 		 		 	Name:	 	Steven R. Rowley
		 		 		 	Title:	 	President and CEO

 The Optionee hereby accepts the foregoing Option Agreement, subject to the terms and provisions of the
Plan and administrative interpretations thereof referred to above. 
  

									
		 		 		 	OPTIONEE:
				
	Date:	 	  
	 		 	  

				
		 		 		 	  
 Eagle Materials
Inc.

		 		 		 	3811 Turtle Creek Blvd.
		 		 		 	Suite 1100
		 		 		 	Dallas, Texas 75219

  
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 EXHIBIT A 

Change in Control 
 For the purpose of this Agreement, a “Change in Control” shall mean the occurrence of any of the following events: 
 (a) The acquisition by any Person of beneficial ownership of securities of the Company (including any such acquisition of beneficial ownership deemed to have occurred pursuant to Rule 13d-5 under the
Exchange Act) if, immediately thereafter, such Person is the beneficial owner of (i) 50% or more of the total number of outstanding shares of any single class of Company Common Stock or (ii) 40% or more of the total number of outstanding
shares of all classes of Company Common Stock, unless such acquisition is made (a) directly from the Company in a transaction approved by a majority of the members of the Incumbent Board or (b) by any employee benefit plan (or related
trust) sponsored or maintained by the Company or any corporation controlled by the Company; 
 (b) Individuals who, as of the
date hereof, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election, or
nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board (or who is otherwise designated as a member of the Incumbent Board by such a vote) shall
be considered as though such individual were a member of the Incumbent Board, except that any such individual shall not be considered a member of the Incumbent Board if his or her initial assumption of office occurs as a result of either an actual
or threatened election contest (as such term is used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act) or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; 

(c) The consummation of a Business Combination, unless, immediately following such Business Combination, (i) more than 50% of both
the total number of then outstanding shares of common stock of the parent corporation resulting from such Business Combination and the combined voting power of the then outstanding voting securities of such parent corporation entitled to vote
generally in the election of directors will be (or is) then beneficially owned, directly or indirectly, by all or substantially all of the Persons who were the beneficial owners, respectively, of the outstanding shares of Company Common Stock
immediately prior to such Business Combination in substantially the same proportions as their ownership immediately prior to such Business Combination of the outstanding shares of Company Common Stock, (ii) no Person (other than any employee
benefit plan (or related trust) of the Company or any corporation resulting from such Business Combination) beneficially owns, directly or indirectly, 40% or more of the total number of then outstanding shares of common stock of the corporation
resulting from such Business Combination or the combined voting power of the then outstanding voting securities of such corporation entitled to vote generally in the election of directors and (iii) at least a majority of the members of the
board of directors of the parent corporation resulting from such Business Combination were members of the Incumbent Board immediately prior to the consummation of such Business Combination; or 

(d) Approval by the Board and the shareholders of the Company of (i) a complete liquidation or dissolution of the Company or
(ii) a Major Asset Disposition (or, if there is no such approval by shareholders, consummation of such Major Asset Disposition) unless, 

  
 Exhibit A-1

 (e) immediately following such Major Asset Disposition, (A) Persons that were
beneficial owners of the outstanding shares of Company Common Stock immediately prior to such Major Asset Disposition beneficially own, directly or indirectly, more than 50% of the total number of then outstanding shares of common stock and the
combined voting power of the then outstanding shares of voting stock of the Company (if it continues to exist) and of the Acquiring Entity in substantially the same proportions as their ownership immediately prior to such Major Asset Disposition of
the outstanding shares of Company Common Stock; (B) no Person (other than any employee benefit plan (or related trust) of the Company or such entity) beneficially owns, directly or indirectly, 40% or more of the then outstanding shares of
common stock or the combined voting power of the then outstanding voting securities of the Company (if it continues to exist) and of the Acquiring Entity entitled to vote generally in the election of directors and (C) at least a majority of the
members of the Board of the Company (if it continues to exist) and of the Acquiring Entity were members of the Incumbent Board at the time of the execution of the initial agreement or action of the Board providing for such Major Asset Disposition.

 For purposes of the foregoing, 
  

	 	(i)	the term “Person” means an individual, entity or group; 

  

	 	(ii)	the term “group” is used as it is defined for purposes of Section 13(d)(3) of the Exchange Act; 

 

	 	(iii)	the terms “beneficial owner”, “beneficial ownership” and “beneficially own” are used as defined for purposes of Rule 13d-3 under the
Exchange Act; 

  

	 	(iv)	the term “Business Combination” means (x) a merger, consolidation or share exchange involving the Company or its stock or (y) an acquisition by the
Company, directly or through one or more subsidiaries, of another entity or its stock or assets; 

  

	 	(v)	the term “Company Common Stock” shall mean the Common Stock, par value $.01 per share, of the Company; 

 

	 	(vi)	the term “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

 

	 	(vii)	the phrase “parent corporation resulting from a Business Combination” means the Company if its stock is not acquired or converted in the Business Combination
and otherwise means the entity which as a result of such Business Combination owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries; 

 

	 	(viii)	the term “Major Asset Disposition” means the sale or other disposition in one transaction or a series of related transactions of 50% or more of the assets of
the Company and its subsidiaries on a consolidated basis; and any specified percentage or portion of the assets of the Company shall be based on fair market value, as determined by a majority of the members of the Incumbent Board;

  
 Exhibit A-2

	 	(ix)	the term “Acquiring Entity” means the entity that acquires the largest portion of the assets sold or otherwise disposed of in a Major Asset Disposition (or
the entity, if any, that owns a majority of the outstanding voting stock of such acquiring entity entitled to vote generally in the election of directors or members of a comparable governing body); and 

 

	 	(x)	the phrase “substantially the same proportions,” when used with reference to ownership interests in the parent corporation resulting from a Business
Combination or in an Acquiring Entity, means substantially in proportion to the number of shares of Company Common Stock beneficially owned by the applicable Persons immediately prior to the Business Combination or Major Asset Disposition, but is
not to be construed in such a manner as to require that the same ratio or number of shares of such parent corporation or Acquiring Entity be issued, paid or delivered in exchange for or in respect of the shares of each class of Company Common Stock.

  
 Exhibit A-3

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