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                                                             CENTEX EXHIBIT 10.2

                           FOURTH AMENDED AND RESTATED
                             1998 CENTEX CORPORATION
                    EMPLOYEE NON-QUALIFIED STOCK OPTION PLAN

1. Purpose of the Plan.

         This 1998 Centex Corporation Employee Non-Qualified Stock Option Plan
(the "PLAN") is intended as an employment incentive to retain in the employ of
Centex Corporation (the "COMPANY"), and any Affiliate (including any entity that
becomes an Affiliate), persons of training, experience and ability, to attract
new employees whose services are considered valuable, to encourage the sense of
proprietorship of such persons, and to stimulate the active interest of such
persons in the development and financial success of the Company. For purposes of
the Plan, "AFFILIATE" shall mean any direct or indirect subsidiary or parent of
the Company and any partnership, joint venture, limited liability company or
other business venture or entity in which the Company owns at least 50% of the
ownership interest in such entity, as determined by the Committee in its sole
and absolute discretion (such determination by the Committee to be conclusively
established by the grant of options by the Committee to an officer or employee
of such an entity). It is further intended each option granted pursuant to the
Plan (herein, an "OPTION") shall constitute non-qualified stock options within
the meaning of Section 83 of the Code.

2. ADMINISTRATION OF THE PLAN.

         The Board of Directors shall appoint and maintain a Compensation and
Stock Option Committee (hereinafter called the "COMMITTEE") of the Board of
Directors to administer the Plan. Subject to the terms and conditions of the
Plan, the Committee shall have full power and authority to designate persons to
whom Options will be granted, to determine the terms and provisions of
respective option agreements (which need not be identical), and to interpret the
provisions and supervise the administration of the Plan. The Committee shall
have the authority, exercisable in its sole discretion, to grant Options
containing such terms and conditions, consistent with the provisions of the
Plan, as the Committee shall determine.

3. DESIGNATION OF PARTICIPANTS.

         The persons eligible for participation in the Plan as recipients of
Options shall include all employees of the Company or of any Affiliate,
including employees of any entity that becomes an Affiliate after the date that
the Plan is adopted, other than any of the following persons (herein, an
"INELIGIBLE PERSON"):

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         (a) any person who is an officer or director of the Company;

         (b) any "officer" of the Company as defined by Rule 16a-1(f)
promulgated under the Securities Exchange Act of 1934, as amended; or

         (c) any "covered employee" of the Company as defined by Section
162(m)(3) of the Internal Revenue Code.

         Each Option granted hereunder shall be evidenced by an agreement
between the Company and the Optionee, which shall contain such terms and
conditions as the Committee shall determine in its sole and absolute discretion.
Any person who has been granted an Option hereunder (herein, an "OPTIONEE") may
be granted an additional Option or Options, if the Committee shall so determine.
Participation in the Plan shall not preclude an Optionee from participating in
any other stock option, benefit, bonus, or other compensation plan which the
Company or any Affiliate has adopted, or may, from time to time, adopt for the
benefit of its employees.

4. STOCK RESERVED FOR THE PLAN.

         Subject to any adjustment provided in Paragraph 9 hereof, a total of
4,000,000 shares of common stock, $0.25 par value, of the Company (the "STOCK")
shall be subject to the Plan. The shares of Stock subject to the Plan shall
consist of unissued shares or previously issued shares reacquired and held by
the Company, or any Affiliate, and such amount of shares shall be and hereby is
reserved for delivery under the Plan. Any of such shares which may remain unsold
and which are not subject to outstanding Options at the termination of the Plan
shall cease to be reserved for the purpose of the Plan, but until termination of
the Plan the Company shall at all times reserve a sufficient number of shares of
Stock to meet the requirements of the Plan. Should any Option expire or be
canceled prior to its exercise or relinquishment in full, the shares theretofore
subject to such Option may again be subjected to an Option under the Plan. If
the purchase price or tax withholding is permitted to be satisfied by the tender
or withholding of shares of Stock to the Company (by either actual delivery or
attestation), the number of shares of Stock tendered or withheld shall be
eligible for reissuance under the Plan.

5. PURCHASE PRICE.

         (a) The purchase price of each share placed under option pursuant to
the Plan (a "Share") shall be determined by the Committee, but in no event shall
be less than 100% of the Fair Market Value of such Share on the date the Option
is granted. If an Option is granted as part of an Optionee's compensation
package at the commencement of an Optionee's employment by the Company or an
Affiliate, the Option shall be deemed to have

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been granted on the date of commencement of such Optionee's employment by the
Company or any Affiliate (the "Commencement Date") and the purchase price of a
Share shall be equal to the Fair Market Value of such Share on the Commencement
Date, so long as such Option is not granted more than ninety (90) days following
the Commencement Date.

         (b) "FAIR MARKET VALUE" of a share of Stock means, as of a particular
date, the closing price per share of Stock reported on the consolidated
transaction reporting system for the New York Stock Exchange, or, if there shall
have been no such sale so reported on that date, on the last preceding date on
which such a sale was so reported.

6. OPTION PERIOD.

         The Options granted under the Plan shall be for any term set by the
Committee, but not more than ten (10) years from the date of granting of each
Option. All rights to exercise an Option shall terminate within three (3) months
after the date the Optionee ceases to be an employee of the Company or any
Affiliate, except that

         (a) the Committee, in its discretion, may provide in new option grants
or amend outstanding Options to provide an extended period of time during which
an Optionee can exercise an Option up to the maximum permissible period which
such Optionee's Option would have been exercisable in the absence of the
Optionee ceasing to be an employee of the Company or an Affiliate;

         (b) if an Optionee ceases to be employed by the Company or an Affiliate
by reason of such Optionee's death, all rights to exercise such Option shall
terminate fifteen (15) months after such death; and

         (c) if the Optionee is terminated for cause, as determined by the
Committee in its sole and absolute discretion, any Option granted to such
Optionee hereunder shall terminate on the date of such termination.

7. EXERCISE OF OPTIONS.

         (a) Any Option granted hereunder shall be exercisable from time to time
under the terms specified in the Plan, by the Committee, or in the agreement
relating to the grant of such Option.

         (b) Each exercise of an Option or a portion of an Option shall be
evidenced by a notice in writing to the Company, stating the number of shares
with respect to which the Option is being exercised.

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         (c) Options may be exercised solely by the Optionee or a Permitted
Transferee (hereafter defined).

         (d) The purchase price of the Shares for which an Option is exercised
shall be paid in full at the time of the exercise. Such purchase price shall be
payable in cash, or at the option of the holder of such Option, in Stock
theretofore owned by such holder for at least six (6) months by either actual
delivery of shares or by attestation (or in a combination of cash and such
Stock). For purposes of determining the amount, if any, of the purchase price
satisfied by payment in Stock, such Stock shall be valued at its Fair Market
Value on the date of exercise. Any Stock delivered in satisfaction of all or a
portion of the purchase price shall be appropriately endorsed for transfer and
assignment to the Company. No holder of an Option shall be, or have any of the
rights or privileges of, a shareholder of the Company in respect of any Shares
unless and until certificates representing such Shares shall have been delivered
by the Company to such holder or such holder's interest in such Shares shall
have been evidenced by an entry on the Company's books and records.

         (e) 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 possible, shall be postponed
for the period of time necessary to take such action.

8. ASSIGNABILITY.

         Unless otherwise permitted by the Committee, no Option or interest
therein shall be transferable by the Optionee otherwise than by will or by the
applicable laws of descent and distribution. Any person to whom an Option is
transferred in accordance with this Section 8 is referred to herein as a
"PERMITTED TRANSFEREE".

9. CAPITAL CHANGE OF THE COMPANY.

         (a) If at any time while the Plan is in effect there shall be an
increase or decrease in the number of issued and outstanding shares of Stock of
the Company effected without receipt of consideration therefor by the Company,
through the declaration of a stock dividend or stock split, or through any
recapitalization, merger or other transaction in which the Company is the
surviving corporation, then and in each such event:

                  (i) An appropriate adjustment shall be made in the maximum
         number of Shares then subject to being optioned under the Plan, to the
         end that the same proportion of the Company's issued and outstanding
         Stock shall continue to be subject to being so optioned and awarded;
         and

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                  (ii) An appropriate adjustment shall be made in the number of
         Shares and the purchase price per Share thereof then subject to
         purchase pursuant to each Option previously granted, to the end that
         the same proportion of the Company's issued and outstanding Stock in
         each such instance shall remain subject to purchase at the same
         aggregate purchase price.

         (b) Except as is otherwise expressly provided herein, the issue by the
Company of shares of its capital stock of any class, or securities convertible
into shares of capital stock of any class, either in connection with a direct
sale or upon the exercise of rights or warrants to subscribe therefor, or upon
conversion of shares or obligations of the Company convertible into such shares
or other securities, shall not affect, and no adjustment by reason thereof shall
be made with respect to, the number of or purchase price of Shares. Furthermore,
the presence of outstanding Options granted under the Plan shall not affect in
any manner the right or power of the Company to make, authorize or consummate
(i) any or all adjustments, recapitalizations, reorganizations or other changes
in the Company's capital structure or its business; (ii) any merger or
consolidation of the Company; (iii) any issue by the Company of debt securities
or preferred or preference stock (whether or not such issue is prior to, on a
party with or junior to the Stock); (iv) the dissolution or liquidation of the
Company; (v) any sale, transfer or assignment of all or any part of the assets
or business of the Company; or (vi) any other corporate act or proceeding,
whether of a similar character or otherwise.

         (c) Notwithstanding anything to the contrary above, a dissolution or
liquidation of the Company, a merger (other than a merger effecting a
reincorporation of the Company in another state) or consolidation in which the
Company is not the surviving corporation (or survives only as a subsidiary of
another corporation in a transaction in which the stockholders of the parent of
the Company and their proportionate interests therein immediately after the
transaction are not substantially identical to the stockholders of the Company
and their proportionate interests therein immediately prior to the transaction),
a transaction in which another corporation becomes the owner of 50% or more of
the total combined voting power of all classes of stock of the Company, or a
change in control (as specified below), shall cause every Option then
outstanding to become exercisable in full immediately prior to such dissolution,
liquidation, merger, consolidation, transaction, or change in control, to the
extent not theretofore exercised, without regard to the determination as to the
periods and installments of exercisability contained in the Agreements if (and
only if) such Options have not at that time expired or been terminated. For
purposes of this paragraph, a change in control shall be deemed to have taken
place if: a third person, including a "group" as defined in Section 13(d)(3) of
the Act, becomes the beneficial owner of shares of the Company having fifty
percent (50%) or more of the total number of votes that may be cast for the
election of directors of the Company; or as a result of, or in connection with,
a contested election for directors, the persons who were directors

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of the Company immediately before such election shall cease to constitute a
majority of the Board. Notwithstanding the foregoing provisions of this
paragraph:

                  (i) an event, transaction, or corporate action shall not have
         the effect of accelerating the exercisability of Options if: (A)
         persons who were the directors of the Company and persons who were the
         executive officers of the Company as of six months prior to such event
         immediately after such event constitute a majority of the directors and
         constitute a majority of executive officers, respectively, for, and own
         in the aggregate at least ten percent of the voting securities or
         equity interests of, the Company or the surviving or resulting
         corporation or the parent of such surviving or resulting corporation;
         and (B) if the Company is not the surviving or resulting corporation,
         such surviving or resulting corporation or parent of such surviving or
         resulting corporation substitutes substantially identical options for
         any outstanding Options; and

                  (ii) in the event of any dissolution, merger, consolidation,
         transaction, or change in control, the Board may completely satisfy and
         extinguish all obligations of the Company and its Affiliates with
         respect to any Option outstanding on the date of such event by
         delivering to the Optionee cash in an amount equal to the difference
         between the aggregate purchase price for Shares under the Option and
         the Fair Market Value of such Shares on the date of such event, such
         payment to be made within a reasonable time after such event.

10. TAX WITHHOLDING.

         The Company shall have the right to deduct applicable taxes from any
Option and withhold, at the time of delivery of Shares under the Plan, an
appropriate number of Shares for payment of taxes required by law or to take
such other action as may be necessary in the opinion of the Company to satisfy
all obligations for withholding of such taxes. The Committee may also permit
withholding to be satisfied by the transfer to the Company of Stock theretofore
owned by the holder of the Option with respect to which withholding is required.
If Shares or Stock are used to satisfy tax withholding, such Shares or Stock
shall be valued based on the Fair Market Value when the tax withholding is
required to be made.

11. EFFECTIVE DATE OF PLAN.

         The effective date of the Plan shall be February 19, 1998. No Option
shall be granted pursuant to the Plan after February 19, 2003.

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12. AMENDMENT, MODIFICATION, SUSPENSION OR TERMINATION.

         The Board may amend, modify, suspend or terminate the Plan at any time
for the purpose of meeting or addressing any changes in legal requirements or
for any other purpose permitted by law, except that no amendment, modification,
suspension or termination shall be made (i) that would impair the rights of any
Optionee under any Option previously granted to such Optionee without such
Optionee's written consent, (ii) prior to approval by the Company's shareholders
if such approval is then required thereby, or (iii) that would reduce the
purchase price of any outstanding Option, other than as provided by Section
9(a)(ii).

13. REQUIREMENTS OF LAW.

         (a) The Plan, and the granting and exercise of Options hereunder, and
the obligation of the Company to sell and deliver shares under such Options,
shall be subject to all applicable laws, rules and regulations, and to such
approvals by any governmental agencies or national securities exchanges as may
be required.

         (b) Nothing herein or in any Agreement executed or Option granted
hereunder shall require the Company to deliver any Shares upon exercise of an
Option if such delivery would, in the opinion of counsel for the Company,
constitute a violation of the Securities Act of 1933, as amended, or any similar
or superseding statute or statutes, or any other applicable statute or
regulation, as then in effect. Upon the exercise of an Option or portion or part
thereof, the Optionee may be required to give to the Company satisfactory
evidence that he is acquiring such Shares for the purpose of investment only and
not with a view to their distribution; provided, however, if or to the extent
that the Shares subject to the Option shall be included in a registration
statement filed by the Company, or one of its Affiliates, such investment
representation shall be abrogated.

14. MISCELLANEOUS.

         (a) Nothing contained in the Plan shall confer upon any Optionee the
right to continue in the employ of the Company or any Affiliate, or interfere in
any way with the rights of the Company or any Affiliate to terminate his
employment at any time.

         (b) Any payment of cash or any delivery of Shares to the Optionee, or
to an Optionee's Permitted Transferee, in accordance with the provisions hereof,
shall, to the extent thereof, be in full satisfaction of all claims of such
person with respect to the Option being exercised (or portion thereof). The
Committee may require any Optionee, or Permitted Transferee, as a condition
precedent to such payment or delivery, to execute a release and receipt therefor
in such form as it shall determine.

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         (c) Neither the Committee nor the Company guarantees the Shares from
loss or depreciation.

         (d) Records of the Company and its Affiliates regarding an individual's
period of employment, termination of employment and the reason therefor, leaves
of absence, re-employment and other matters shall be conclusive for all purposes
hereunder, unless determined by the Committee to be incorrect in its sole and
absolute discretion.

         (e) The Company assumes no obligation or responsibility to an Optionee
or any Permitted Transferee for any act of, or failure to act on the part of,
the Committee.

         (f) If any provision of the Plan is held to be illegal or invalid for
any reason, the illegality or invalidity shall not affect the remaining
provisions of the Plan, but such provision shall be fully severable and the Plan
shall be construed and enforced as if the illegal or invalid provision had never
been included herein.

         (g) The titles and headings of Sections are included for convenience of
reference only and are not to be considered in construction of the provisions
hereof.

         (h) All questions arising with respect to the provisions of the Plan
shall be determined by application of the laws of the State of Nevada except to
the extent Nevada law is preempted by federal law. The obligation of the Company
to sell and deliver Shares hereunder is subject to applicable laws and to the
approval of any governmental authority required in connection with the
authorization, issuance, sale, or delivery of such Shares.

         (i) Words used in the masculine shall apply to the feminine where
applicable, and wherever the context of the Plan dictates, the plural shall be
read as the singular and the singular as the plural.

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                                                          CENTEX EXHIBIT 10.5a

                         EXECUTIVE EMPLOYMENT AGREEMENT

This Executive Employment Agreement ("Agreement") is made as of the 1st day of
June, 2000, by and between Centex Corporation, a Nevada corporation, (the
"Corporation") and Leldon E. Echols, an individual residing in Dallas County,
Texas (the "Executive").

                                    RECITALS:

The Company desires to employ Executive and Executive desires to be employed by
and to serve the Company in the capacities and for the term and compensation and
upon and subject to the terms and conditions hereinafter set forth.

                                   AGREEMENT:

NOW, THEREFORE, in consideration of the terms and conditions hereinafter set
forth, the Corporation and the Executive agree as follows:

     1. Definitions. For the purposes of the Agreement, the following
definitions shall apply unless the context requires otherwise:

          a. "Affiliate" shall mean any individual, entity, or corporation that
     controls, is controlled by, or is under common control with the
     Corporation.

          b. "Average Bonus" shall mean the result obtained by dividing the sum
     of the bonuses, if any, paid to the Executive pursuant to Subsection 4.b
     below in respect of the two fiscal years next preceding the fiscal year in
     which a Change in Control of the Corporation occurs by the number of years
     during such two-year period in which the Executive was entitled to receive
     a bonus pursuant to Subsection 4.b below.

          c. "Board" shall mean the Board of Directors of the Corporation.

          d. "Breach" shall mean a breach by the Executive or the Corporation,
     as the case may be, of a term of this Agreement which breach remains
     uncured for 15 days after written notice is received by the party in breach
     from the party asserting the breach.

          e. A "Change in Control" shall be deemed to have occurred if (i) the
     Corporation merges or consolidates with any other corporation (other than a
     wholly-owned subsidiary) and is not the surviving corporation (or survives
     only as a subsidiary of another corporation), (ii) the Corporation sells
     all or substantially all of its assets to any other person or entity (other
     than a wholly-owned subsidiary), (iii) the Corporation is dissolved, or
     (iv) a third person, including a "group" as defined in Section 13(d)(3) of
     the Securities Exchange Act of 1934, becomes the beneficial owner of shares
     of Common Stock of the Corporation having 50% or more of the total number
     of votes that may be cast for the election of directors of the Corporation;
     or as a result of, or in connection with, a contested election for
     directors, the persons who were directors of the Corporation

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     before such election shall cease to constitute a majority of the Board of
     Directors of the Corporation. Notwithstanding any provision of this
     Subsection 1.e., an event, transaction, or Corporate action described in
     this Subsection which would otherwise be deemed a Change in Control, will
     not be deemed a Change in Control if: it is a management led or supported
     transaction by persons who were the directors of the Corporation and
     persons who were the executive officers of the Corporation as of six months
     prior to such event; and if immediately after such event such persons
     constitute a majority of the directors and constitute a majority of
     executive officers for, and own in the aggregate at least fifteen percent
     of the voting securities or interest of, the Corporation or the surviving
     or resulting corporation or the parent of the resulting corporation.

          f. "Common Stock" shall mean the common stock of the Corporation, par
     value $.25.

          g. "Disability" shall mean the Executive's inability, by reason of a
     mental or physical impairment, to perform his obligations and agreements as
     set forth in Section 3 below for a period of twelve (12) consecutive months
     or more.

          h. "Termination for Cause" shall mean the Corporation's termination of
     the Executive's employment with the Corporation pursuant to a determination
     by the Board, in its sole and absolute discretion, but acting in good
     faith, that the individual is guilty of engaging in acts in the course of
     his employment with the Corporation that constitute theft, dishonesty,
     fraud, or embezzlement.

          i. "Termination Without Cause" shall mean any termination by the
     Corporation of the Executive's employment with the Corporation other than a
     Termination for Cause. In addition, if (i) the Board alters the duties of
     the Executive so that the Executive no longer renders such services of an
     executive and administrative character to the Corporation and its
     Affiliates as are usual and customary in the case of the executive vice
     president and chief financial officer of a corporation such as the
     Corporation and (ii) the Executive thereafter terminates employment with
     the Corporation, such termination by the Executive shall be deemed not a
     voluntary termination of employment by the Executive but a termination by
     the Corporation of the Executive's employment with the Corporation that is
     a Termination Without Cause.

     2. Employment Period. The Corporation agrees to employ the Executive and
Executive accepts such employment for a term of two (2) years to begin on the
date of this Agreement and such term shall be automatically renewed and
recommenced on a daily basis so that on any day of the term of this Agreement
the remainder of the term shall be two (2) years.

     3. Services. Subject to the power of the Board to elect and remove
officers, during the term of his employment under this Agreement the Executive
shall serve as Executive Vice President and Chief Financial Officer of the
Corporation (or in such other office of comparable or greater responsibility as
the Board may determine). In such capacities the Executive shall, as the Board
may from time to time direct, render such services of an executive and
administrative

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character to the Corporation and its Affiliates as are usual and customary in
the case of the executive vice president and chief financial officer of a
corporation such as the Corporation. The Executive shall devote his best efforts
and substantially all of his business time and attention (except for vacation
periods and reasonable periods of illness or other incapacity) to the business
of the Corporation and its Affiliates.

     4. Compensation.

          a. Base Salary. The Corporation shall pay the Executive, in addition
     to other compensation for services rendered by the Executive under this
     Agreement, a "Base Salary" (herein so-called). The initial Base Salary
     shall be $450,000 per year. The Executive's Base Salary shall be paid in
     accordance with the customary payroll policy of the Corporation in effect
     at the time payments thereof are to be made, or as may otherwise be
     mutually agreed upon by the Executive and the Corporation. The Executive's
     Base Salary shall be reviewed by the Board in May 2001, and during each
     subsequent May during the term of the Executive's employment under this
     Agreement, with adjustments in such Base Salary to become effective as
     provided by the Board; provided, however, that the Executive's annualized
     Base Salary shall not be less than the initial Base Salary or the highest
     subsequent Base Salary established by the Board. Any adjustment of Base
     Salary by the Board shall become effective immediately for purposes of this
     Agreement.

          b. Bonuses. For each of the Corporation's fiscal years during which
     this Agreement is in effect, the Executive shall participate in the
     Corporation's bonus program for executives in accordance with the
     Corporation's policy.

          c. Fringe Benefits. The Corporation shall provide to the Executive,
     during the Executive's employment under this Agreement, all so-called
     "fringe benefits", including, but not limited to, hospitalization
     insurance, disability insurance, life insurance, and the like, that are
     currently granted to or provided for executives and employees of the
     Corporation or that may be granted to or provided for them during the term
     of the Executive's employment under this Agreement. In addition, the
     Corporation shall provide the Executive with an automobile allowance
     consistent with the terms of the Corporation's policies as from time to
     time in effect.

     5. Participation in Salary Continuation Plan. The Executive shall be
entitled to participate in the Corporation's Salary Continuation Plan upon the
same terms and conditions as are offered to other executives of the Corporation.

     6. Participation in Profit Sharing and Retirement Plan. The Executive shall
be eligible to participate in the Corporation's Profit Sharing and Retirement
Plan on the same terms and conditions as are provided for other employees of the
Corporation.

     7. Club Memberships. The Corporation shall provide the Executive with club
memberships pursuant to the Corporation's existing policy, and such memberships
shall be maintained during the term of the Executive's employment with the
Corporation.

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     8. Termination and Resignation. The Corporation shall have the right to
terminate the Executive's employment hereunder at any time and for any reason,
and upon any such termination the Executive shall be entitled to receive from
the Corporation prompt payment of the amount determined pursuant to the
applicable Subsection of Section 9 below. The Executive shall have the right to
terminate his employment hereunder at any time by resignation, and he shall
thereupon be entitled to receive from the Corporation prompt payment of the
amount determined pursuant to the applicable Subsection of Section 9 below.

     9. Payments Upon Termination and Resignation.

          a. Pro Rata Payment. If the Corporation terminates the Executive's
     employment for Cause, or because of the Breach by the Executive of this
     Agreement, or if the Executive voluntarily resigns prior to the occurrence
     of a Change in Control of the Corporation at a time when there is no
     uncured Breach by the Corporation of any term of this Agreement, then in
     each case the Executive shall be entitled to receive only his then current
     Base Salary on a pro rata basis to the date of such termination or
     resignation.

          b. Multiple Base Salary Payment. If the Executive dies, or becomes
     Disabled, or if prior to the occurrence of a Change in Control the
     Corporation terminates the Executive's employment Without Cause, or if the
     Executive resigns because of the Breach by the Corporation of any term of
     this Agreement, then in each case the Executive (or his heirs or executors)
     shall be entitled to receive his Base Salary for the remaining term of this
     Agreement (i.e., for two years after such death, disability, termination or
     resignation).

          c. Multiple Base Salary and Bonus Payment. If with in two years after
     the occurrence of a Change in Control of the Corporation, (a) the
     Corporation terminates the Executive's employment hereunder for any reason
     other than for Cause, or (b) the Executive voluntarily resigns his
     employment hereunder for any reason, then in each case the Corporation will
     pay to the Executive a lump sum termination payment equal to two times the
     sum of his then current Base Salary and his Average Bonus.

     10. Confidentiality and Competition.

          a. Trade Secret. The Executive recognizes and acknowledges that the
     names of the Corporation's customers, the Corporation's methods of
     operation, sales, engineering and other trade secrets, as they may exist
     from time to time, are valuable, special and unique assets of the
     Corporation. The Executive shall not, during or after the term of his
     employment hereunder, disclose any such names or other trade secrets, or
     any part thereof, that the Executive becomes aware of during his
     employment, to any person, firm, corporation, association or other entity.

          b. Non-Competition. The Executive agrees that while he is employed by
     the Corporation, and for two years after his termination of employment with
     the Corporation for any reason other than termination resulting from a
     Change in Control or Breach of this Agreement by the Corporation, he will
     not directly or indirectly associate with any business

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     that is deemed by the Board to be a significant competitor of the
     Corporation or any of the Corporation's Affiliates or principal divisions.
     For purposes of this Subsection 10.b., the Board, in its sole discretion
     and acting in good faith, will determine if a business is a significant
     competitor of the Corporation or any of the Corporation's Affiliates or
     principal divisions. The Board shall make such determination within twenty
     (20) days after the Executive notifies the Corporation that the Executive
     intends to associate with or is associated with a business that might be
     deemed to be a significant competitor of the Corporation. During the two
     year period following the Executive's termination or resignation under this
     Agreement, the Executive shall not attempt to entice away any customer or
     employee of the Corporation or its Affiliates. For purposes of this
     Subsection 10.b., the Executive will not be deemed to be associated with a
     business if his sole association with such a business is his ownership of
     less than 1% of its issued and outstanding capital stock.

     11. Reimbursement of Legal Expenses. If at any time the Executive or his
beneficiary or beneficiaries, or his estate, as the case may be, shall commence
any legal action to enforce any of the terms or provisions of this Agreement,
including, without limitation, any term or provision requiring the payment of
compensation to the Executive hereunder, whether in installments or in a lump
sum, or the payment of the severance benefit hereunder, and such legal action
results in a decision favorable to the person so commencing such action, the
Corporation agrees to reimburse such person for all costs and expenses of such
action, including reasonable attorney's fees, incurred by such person in
connection therewith.

     12. Succession. This Agreement shall inure to the benefit of and be binding
upon the Corporation, its successors and assigns, including without limitation,
any person, partnership or corporation which may acquire all or substantially
all or a majority of the Corporation's assets and business, or with or into
which the Corporation may be consolidated or merged, and this provision shall
apply in the event of any subsequent mergers, consolidations, and transfers, and
shall be binding upon the Executive, his heirs and personal representatives.

     13. Waiver of Provisions. The failure of either party to insist, in any one
or more instances, upon performance of any of the terms or conditions of this
Agreement shall not be construed as a waiver or a relinquishment of any right
granted hereunder or of the future performance of any such term or condition,
but the obligation of the other party with respect thereto shall continue in
full force and effect.

     14. Notice. Any notice to be given to the Corporation hereunder shall be
deemed sufficient if addressed to the Corporation in writing and personally
delivered or mailed by certified mail to its office at 2728 North Harwood,
Dallas, Texas 75201, Attn: Vice Chairman. Any notice to be given to the
Executive hereunder shall be deemed sufficient if addressed to him in writing
and personally delivered or mailed by certified mail to 2728 North Harwood,
Dallas, Texas 75201. Either party may, by notice as aforesaid, designate a
different address or addresses.

     15. Severability. In any event any provision of this Agreement shall be
held to be illegal, invalid or unenforceable for any reason, the illegality,
invalidity, or unenforceability shall

                                      -5-
<PAGE>   6

not affect the remaining provisions hereof, but such illegal, invalid or
unenforceable provision shall be fully severable and this Agreement shall be
construed and enforced as if the illegal, invalid or unenforceable provision had
never been included herein.

     16. Headings. The titles and headings of Sections are included for
convenience of reference only and are not to be considered in construction of
the provisions hereof.

     17. Word Usage. Words used in the masculine shall apply in the feminine
where applicable, and wherever the context of this Agreement dictates, the
plural shall be read as the singular and the singular as the plural.

     18. Governing Law. This Agreement shall be governed in all respects by the
laws of the State of Texas.

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the day
and year first above written.

ATTEST:                                CENTEX CORPORATION

                                       By: /s/ David W. Quinn
-----------------                          --------------------------
                                           David W. Quinn
                                           Vice Chairman

                                           /s/ Leldon E. Echols
-----------------                          --------------------------
                                           Leldon E. Echols

                                      -6-

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