Document:

Pulte Homes, Inc. 2004 Stock Incentive Plan

 Exhibit 10.1 
 PULTE HOMES, INC. 
 2004 STOCK INCENTIVE PLAN 
 (As Amended and Restated as of March 19, 2009) 
 I. INTRODUCTION 
 1.1. Purposes. The purposes of the Pulte Homes, Inc. 2004 Stock Incentive Plan
(this “Plan”) are (i) to align the interests of the Company’s stockholders and the recipients of awards under this Plan by increasing the proprietary interest of such recipients in the Company’s growth and success,
(ii) to advance the interests of the Company by attracting and retaining officers, other employees, nonemployee directors, consultants, independent contractors and agents and (iii) to motivate such persons to act in the long-term best
interests of the Company and its stockholders. 
 1.2. Certain Definitions. 
 “Agreement” shall mean the written agreement evidencing an award hereunder between the Company and the recipient of such award.

 “Board” shall mean the Board of Directors of the Company. 
 “Change in Control” shall have the meaning set forth in Section 5.8(b). 
 “Code” shall mean the Internal Revenue Code of 1986, as amended. 
 “Committee” shall mean the committee designated by the Board, consisting of two or more members of the Board, each of whom may be
(i) a “Non-Employee Director” within the meaning of Rule 16b-3 under the Exchange Act, (ii) an “outside director” within the meaning of Section 162(m) of the Code and (iii) “independent” within the
meaning of the rules of the New York Stock Exchange or, if the Common Stock is not listed on the New York Stock Exchange, within the meaning of the rules of the principal national stock exchange on which the Common Stock is then traded. 

“Common Stock” shall mean the common stock, $.01 par value, of the Company. 
 “Company” shall mean Pulte Homes, Inc., a Michigan corporation, or any successor thereto. 
 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 
 “Exempt Persons” shall mean William J. Pulte, his spouse, any trust or other entity established for the benefit of either or both
of such persons, or any charitable organization established by either or both of such persons. 

 “Fair Market Value” shall mean the average of the high and low transaction prices
of a share of Common Stock on the New York Stock Exchange on the date as of which such value is being determined or, if the Common Stock is not listed on the New York Stock Exchange, the average of the high and low transaction prices of a share of
Common Stock on the principal national stock exchange on which the Common Stock is traded on the date as of which such value is being determined, or if there shall be no reported transaction for such date, on the next preceding date for which a
transaction was reported; provided, however, that if Fair Market Value for any date cannot be so determined, Fair Market Value shall be determined by the Committee by whatever means or method as the Committee, in the good faith
exercise of its discretion, shall at such time deem appropriate. 
 “Free-Standing SAR” shall mean an SAR which is
not granted in tandem with, or by reference to, an option, which entitles the holder thereof to receive, upon exercise, shares of Common Stock (which may be Restricted Stock), cash or a combination thereof with an aggregate value equal to the excess
of the Fair Market Value of one share of Common Stock on the date of exercise over the base price of such SAR, multiplied by the number of such SARs which are exercised. 
 “Incentive Stock Option” shall mean an option to purchase shares of Common Stock that meets the requirements of Section 422 of the Code, or any successor provision, which is intended by
the Committee to constitute an Incentive Stock Option. 
 “Incumbent Board” shall have the meaning set forth in
Section 5.8(b)(2). 
 “Mature Shares” shall mean previously-acquired shares of Common Stock for which the holder
thereof has good title, free and clear of all liens and encumbrances, and which such holder either (i) has held for at least six months or (ii) has purchased on the open market. 
 “Non-Qualified Stock Option” shall mean an option to purchase shares of Common Stock which is not an Incentive Stock Option.

 “Outstanding Common Stock” shall have the meaning set forth in Section 5.8(b)(1). 
 “Outstanding Voting Securities” shall have the meaning set forth in Section 5.8(b)(1). 
 “Performance Measures” shall mean the criteria and objectives, established by the Committee, which shall be satisfied or met
(i) as a condition to the grant or exercisability of all or a portion of an option or SAR, (ii) as a condition to the grant of a Stock Award or (iii) during the applicable Restriction Period or Performance Period as a condition to the
holder’s receipt, in the case of a Restricted Stock Award, of the shares of Common Stock subject to such award, or, in the case of a Restricted Stock Unit Award or a Performance Share Award, of the shares of Common Stock subject to such award
and/or of payment with respect to such award. To the extent necessary for an award to be qualified performance-based compensation under Section 162(m) of the Code and the regulations thereunder, such criteria and objectives shall include one or
more of the following objective corporate-wide or subsidiary, division, operating unit or individual measures: earnings; earnings per share; earnings before interest and taxes (“EBIT”); earnings before interest, taxes, depreciation and
amortization (“EBITDA”); financial return ratios; return on equity; return on assets; total shareholder return; net income; pre-tax income; 

  

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operating income; revenues; profit margin; cash flow(s); expense management; economic profit; customer satisfaction; mortgage capture rates; productivity;
efficiency; employee retention; succession management; management of service and warranty costs; management of the cost of insurance claims; achievement of energy performance goals; measurable marketing effectiveness; or achievement of diversity
goals. Each such goal may be expressed on an absolute or relative basis, may include comparisons based on current internal targets, the past performance of the Company (including the performance of or one or more subsidiaries, divisions or operating
units) or the past or current performance of other companies (or a combination of such past and current performance) and may include or exclude objectively determinable components of any performance goal, including, without limitation, special
charges such as restructuring or impairment charges, gains on land sales below original basis, non-cash amortization, or tax refunds or payments. In the case of earnings-based measures, in addition to the ratios specifically enumerated above,
performance goals may include comparisons relating to capital (including, but not limited to, the cost of capital), shareholders’ equity, shares outstanding, assets or net assets, or any combination thereof. The measures utilized in
establishing performance goals under this Plan for any given Performance Period shall be determined in accordance with generally accepted accounting principles (“GAAP”) and in a manner consistent with the methods used in the Company’s
audited consolidated financial statements, to the extent applicable, without regarding to (a) extraordinary or other nonrecurring or unusual items, as determined by the Company’s independent public accountants in accordance with GAAP,
(b) changes in accounting, as determined by the Company’s independent public accountants in accordance with GAAP, or (c) pre-acquisition costs, unless, in each case, the Committee decides otherwise or as otherwise required under
Section 162(m) of the Code. 
 “Performance Period” shall mean any period designated by the Committee during
which the Performance Measures applicable to a Performance Share Award shall be measured. 
 “Performance Share”
shall mean a right, contingent upon the attainment of specified Performance Measures within a specified Performance Period, to receive one share of Common Stock, which may be Restricted Stock, or in lieu of all or a portion thereof, the Fair Market
Value of such share of Common Stock in cash. 
 “Performance Share Award” shall mean an award of Performance Shares
under this Plan. 
 “Person” shall have the meaning set forth in Section 5.8(b)(1). 
 “Restricted Stock” shall mean shares of Common Stock which are subject to a Restriction Period. 
 “Restricted Stock Award” shall mean an award of Restricted Stock under this Plan. 
 “Restricted Stock Unit” shall mean a right which entitles the holder thereof to receive, upon vesting, shares of Common Stock,
cash or a combination thereof with an aggregate value equal to the Fair Market Value of one share of Common Stock on the date of vesting. 
 “Restricted Stock Unit Award” shall mean an award of Restricted Stock Units under this Plan. 
  

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 “Restriction Period” shall mean any period designated by the Committee during
which (i) the Common Stock subject to a Restricted Stock Award may not be sold, transferred, assigned, pledged, hypothecated or otherwise encumbered or disposed of, except as provided in this Plan or the Agreement relating to such award, or
(ii) the restrictions applicable to a Restricted Stock Unit Award shall remain in effect. 
 “SAR” shall mean a
stock appreciation right, which may be a Free-Standing SAR or a Tandem SAR. 
 “Stock Award” shall mean a Restricted
Stock Award, an Unrestricted Stock Award or a Restricted Stock Unit Award. 
 “Subsidiary” shall mean any
corporation, limited liability company, partnership, joint venture or similar entity in which the Company owns, directly or indirectly, an equity interest possessing more than 25% of the combined voting power of the total outstanding equity
interests of such entity. 
 “Tandem SAR” shall mean an SAR which is granted in tandem with, or by reference to, an
option (including a Non-Qualified Stock Option granted prior to the date of grant of the SAR), which entitles the holder thereof to receive, upon exercise of such SAR and surrender for cancellation of all or a portion of such option, shares of
Common Stock (which may be Restricted Stock), cash or a combination thereof with an aggregate value equal to the excess of the Fair Market Value of one share of Common Stock on the date of exercise over the base price of such SAR, multiplied by the
number of shares of Common Stock subject to such option, or portion thereof, which is surrendered. 
 “Tax Date”
shall have the meaning set forth in Section 5.5. 
 “Ten Percent Holder” shall have the meaning set forth in
Section 2.1(a). 
 “Unrestricted Stock” shall mean shares of Common Stock which are not subject to a Restriction
Period or Performance Measures. 
 “Unrestricted Stock Award” shall mean an award of Unrestricted Stock under this
Plan. 
 1.3. Administration. This Plan shall be administered by the Committee. Any one or a combination of the following awards may be
made under this Plan to eligible persons: (i) options to purchase shares of Common Stock in the form of Incentive Stock Options or Non-Qualified Stock Options, (ii) SARs in the form of Tandem SARs or Free-Standing SARs, (iii) Stock
Awards in the form of Restricted Stock, Unrestricted Stock or Restricted Stock Units and (iv) Performance Shares. The Committee shall, subject to the terms of this Plan, select eligible persons for participation in this Plan and determine the
form, amount and timing of each award to such persons and, if applicable, the number of shares of Common Stock, the number of SARs, the number of Restricted Stock Units and the number of Performance Shares subject to such an award, the exercise
price or base price associated with the award, the time and conditions of exercise or settlement of the award and all other terms and conditions of the award, including, without limitation, the form of the Agreement evidencing the award. The
Committee may, in its sole discretion and for any reason at any time, subject to the requirements of Section 162(m) of 

  

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the Code and regulations thereunder in the case of an award intended to be qualified performance-based compensation, take action such that (i) any or
all outstanding options and SARs shall become exercisable in part or in full, (ii) all or a portion of the Restriction Period applicable to any outstanding Restricted Stock Award or Restricted Stock Unit Award shall lapse, (iii) all or a
portion of the Performance Period applicable to any outstanding Performance Share Award shall lapse and (iv) the Performance Measures (if any) applicable to any outstanding award shall be deemed to be satisfied at the maximum or any other
level. The Committee shall, subject to the terms of this Plan, interpret this Plan and the application thereof, establish rules and regulations it deems necessary or desirable for the administration of this Plan and may impose, incidental to the
grant of an award, conditions with respect to the award, such as limiting competitive employment or other activities. All such interpretations, rules, regulations and conditions shall be final, binding and conclusive. 
 The Committee may delegate some or all of its power and authority hereunder to the Board or, subject to the applicable law, to the Chief Executive
Officer or other executive officer of the Company as the Committee deems appropriate; provided, however, that (i) the Committee may not delegate its power and authority to the Board or the Chief Executive Officer or other
executive officer of the Company with regard to the grant of an award to any person who is a “covered employee” within the meaning of Section 162(m) of the Code or who, in the Committee’s judgment, is likely to be a covered
employee at any time during the period an award hereunder to such employee would be outstanding and (ii) the Committee may not delegate its power and authority to the Chief Executive Officer or other executive officer of the Company with regard
to the selection for participation in this Plan of an officer or other person subject to Section 16 of the Exchange Act or decisions concerning the timing, pricing or amount of an award to such an officer or other person. 
 No member of the Board or Committee, and neither the Chief Executive Officer nor any other executive officer to whom the Committee delegates any of its
power and authority hereunder, shall be liable for any act, omission, interpretation, construction or determination made in connection with this Plan in good faith, and the members of the Board and the Committee and the Chief Executive Officer or
other executive officer shall be entitled to indemnification and reimbursement by the Company in respect of any claim, loss, damage or expense (including attorneys’ fees) arising therefrom to the full extent permitted by law, except as
otherwise may be provided in the Company’s Articles of Incorporation and/or By-laws, and under any directors’ and officers’ liability insurance that may be in effect from time to time. 
 A majority of the Committee shall constitute a quorum. The acts of the Committee shall be either (i) acts of a majority of the members of the
Committee present at any meeting at which a quorum is present or (ii) acts approved in writing by all of the members of the Committee without a meeting. 
 1.4. Eligibility. Participants in this Plan shall consist of such officers, other employees, nonemployee directors, consultants, independent contractors and agents, and persons expected to become officers, other
employees, nonemployee directors, consultants, independent contractors and agents, of the Company or a Subsidiary as the Committee in its sole discretion may select from time to time. For purposes of this Plan, references to employment shall also
mean an agency or independent contractor relationship and references to employment by the Company 

  

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shall also mean employment by a Subsidiary. The Committee’s selection of a person to participate in this Plan at any time shall not require the
Committee to select such person to participate in this Plan at any other time. 
 1.5. Shares Available. 
 (a) Subject to adjustment as provided in Section 5.7, the number of shares of Common Stock which shall be available for awards under this Plan shall
be 13,637,301 as of March 19, 2009, reduced by the sum of the aggregate number of shares of Common Stock which become subject to outstanding options, outstanding Free-Standing SARs, outstanding Stock Awards and outstanding Performance Share
Awards after such date, and increased by the number of shares of Common Stock that may again become available under this Plan pursuant to Section 1.5(b), whether such shares are subject to awards granted before or after such date. Subject to
adjustment as provided in Section 5.7, of the total number of shares of Common Stock available under this Plan, 10,000,000 shares of Common Stock shall be available for awards of any type permitted by this Plan, 1,842,751 additional shares of
Common Stock shall be available for Stock Awards and Performance Share Awards and 1,794,550 additional shares of Common Stock shall be available for awards other than Stock Awards and Performance Share Awards. 
 (b) The Committee may adopt reasonable counting procedures to ensure appropriate counting, avoid double counting (as, for example, in the case of tandem
or substitute awards) and make adjustments if the number of shares of Common Stock actually delivered differs from the number of shares previously counted in connection with an award. To the extent that shares of Common Stock subject to an
outstanding award granted under this Plan are not issued or delivered to the holder of the award or are returned to the Company by the holder of the award by reason of (i) the expiration, termination, cancellation or forfeiture of such award,
(ii) the settlement of such award in cash, or (iii) the delivery or withholding of shares of Common Stock to pay all or a portion of the exercise price of an award, if any, or to satisfy all or a portion of the tax withholding obligations
relating to an award, then such shares of Common Stock shall again be available under this Plan. This Section 1.5(b) shall apply to the share limit imposed to conform to the Treasury regulations governing Incentive Stock Options only to the
extent consistent with applicable regulations relating to Incentive Stock Options under the Code. 
 (c) Shares of Common Stock shall be made
available from authorized and unissued shares of Common Stock, or authorized and issued shares of Common Stock reacquired and held as treasury shares or otherwise or a combination thereof. 
 (d) To the extent necessary for an award to be qualified performance-based compensation under Section 162(m) of the Code and the regulations
thereunder, (i) the maximum number of shares of Common Stock with respect to which options or SARs or a combination thereof may be granted during any calendar year to any person shall be 1,000,000, subject to adjustment as provided in
Section 5.7, (ii) the maximum number of shares of Common Stock with respect to which Stock Awards subject to Performance Measures may be granted during any calendar year to any person shall be 500,000, subject to adjustment as provided in
Section 5.7 and (iii) the maximum number of shares of Common Stock with respect to which Performance Share Awards may be granted during any calendar year to any person shall be 500,000, subject to adjustment as provided in
Section 5.7. 
  

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 II. STOCK OPTIONS AND STOCK APPRECIATION RIGHTS 
 2.1. Stock Options. The Committee may, in its discretion, grant options to purchase shares of Common Stock to such eligible persons as may be
selected by the Committee. Each option, or portion thereof, that is not an Incentive Stock Option shall be a Non-Qualified Stock Option. An Incentive Stock Option may not be granted to any person who is not an employee of the Company or any parent
or subsidiary (as defined in Section 424 of the Code). Each Incentive Stock Option shall be granted within ten years of the date this Plan is adopted by the Board. To the extent that the aggregate Fair Market Value (determined as of the date of
grant) of shares of Common Stock with respect to which options designated as Incentive Stock Options are exercisable for the first time by a participant during any calendar year (under this Plan or any other plan of the Company, or any parent or
subsidiary as defined in Section 424 of the Code) exceeds the amount (currently $100,000) established by the Code, such options shall constitute Non-Qualified Stock Options. 
 Options shall be subject to the following terms and conditions and shall be subject to such additional terms and conditions, not inconsistent with the
terms of this Plan, as the Committee shall deem advisable: 
 (a) Number of Shares and Purchase Price. The number of shares of Common
Stock subject to an option and the purchase price per share of Common Stock purchasable upon exercise of the option shall be determined by the Committee; provided, however, that the purchase price per share of Common Stock purchasable
upon exercise of an option shall not be less than 100% of the Fair Market Value of a share of Common Stock on the date of grant of such option; provided further, that if an Incentive Stock Option shall be granted to any person who, at
the time such option is granted, owns capital stock possessing more than ten percent of the total combined voting power of all classes of capital stock of the Company (or of any parent or subsidiary as defined in Section 424 of the Code) (a
“Ten Percent Holder”), the purchase price per share of Common Stock shall not be less than the price (currently 110% of Fair Market Value) required by the Code in order for the option to constitute an Incentive Stock Option.

 (b) Exercise Period and Exercisability. The period during which an option may be exercised shall be determined by the Committee;
provided, however, that no option shall be exercised later than ten years after its date of grant; provided further, that if an Incentive Stock Option shall be granted to a Ten Percent Holder, such option shall not be
exercised later than five years after its date of grant. The Committee may, in its discretion, establish Performance Measures which shall be satisfied or met as a condition to the grant of an option or to the exercisability of all or a portion of an
option. The Committee shall determine whether an option shall become exercisable in cumulative or non-cumulative installments and in part or in full at any time. An exercisable option, or portion thereof, may be exercised only with respect to whole
shares of Common Stock. 
 (c) Method of Exercise. An option may be exercised (i) by giving written notice to the Company
specifying the number of whole shares of Common Stock to be purchased and by accompanying such notice with payment therefor in full (or by arranging for such payment to the Company’s satisfaction) either (A) in cash, (B) by delivery
(either actual delivery or by attestation procedures established by the Company) of Mature Shares having an aggregate Fair 

  

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Market Value, determined as of the date of exercise, equal to the aggregate purchase price payable by reason of such exercise, (C) except as may be
prohibited by applicable law, in cash by a broker-dealer acceptable to the Company to whom the optionee has submitted an irrevocable notice of exercise or (D) a combination of (A) and (B), in each case to the extent set forth in the
Agreement relating to the option, (ii) if applicable, by surrendering to the Company any Tandem SARs which are canceled by reason of the exercise of the option and (iii) by executing such documents as the Company may reasonably request.
Any fraction of a share of Common Stock which would be required to pay such purchase price shall be disregarded and the remaining amount due shall be paid in cash by the optionee. No certificate representing Common Stock shall be delivered until the
full purchase price therefor and any withholding taxes thereon, as described in Section 5.5, have been paid (or arrangement made for such payment to the Company’s satisfaction). 
 2.2. Stock Appreciation Rights. The Committee may, in its discretion, grant SARs to such eligible persons as may be selected by the Committee. The
Agreement relating to an SAR shall specify whether the SAR is a Tandem SAR or a Free-Standing SAR. The Committee may require that an outstanding option be exchanged for an SAR exercisable for shares having vesting, expiration and other terms
substantially the same as the option, so long as such exchange will not result in additional accounting expense to the Company. 
 SARs shall
be subject to the following terms and conditions and shall be subject to such additional terms and conditions, not inconsistent with the terms of this Plan, as the Committee shall deem advisable: 
 (a) Number of SARs and Base Price. The number of SARs subject to an award shall be determined by the Committee. Any Tandem SAR related to an
Incentive Stock Option shall be granted at the same time that such Incentive Stock Option is granted. The base price of a Tandem SAR shall be the purchase price per share of Common Stock of the related option. The base price of a Free-Standing SAR
shall be determined by the Committee; provided, however, that such base price shall not be less than 100% of the Fair Market Value of a share of Common Stock on the date of grant of such SAR. 
 (b) Exercise Period and Exercisability. The Agreement relating to an award of SARs shall specify whether such award may be settled in shares of
Common Stock (including shares of Restricted Stock) or cash or a combination thereof. The period for the exercise of an SAR shall be determined by the Committee; provided, however, that no SAR may be exercised more than ten years after
the date of grant; and provided further that no Tandem SAR shall be exercised later than the expiration, cancellation, forfeiture or other termination of the related option. The Committee may, in its discretion, establish Performance
Measures which shall be satisfied or met as a condition to the grant of an SAR or to the exercisability of all or a portion of an SAR. The Committee shall determine whether an SAR may be exercised in cumulative or non-cumulative installments and in
part or in full at any time. An exercisable SAR, or portion thereof, may be exercised, in the case of a Tandem SAR, only with respect to whole shares of Common Stock and, in the case of a Free-Standing SAR, only with respect to a whole number of
SARs. If an SAR is exercised for shares of Restricted Stock, a certificate or certificates representing such Restricted Stock shall be issued in accordance with Section 3.2(c) and the holder of such Restricted Stock shall have such rights of a
stockholder of the Company as determined pursuant 

  

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to Section 3.2(d). Prior to the exercise of an SAR for shares of Common Stock, including Restricted Stock, the holder of such SAR shall have no rights
as a stockholder of the Company with respect to the shares of Common Stock subject to such SAR. 
 (c) Method of Exercise. A Tandem
SAR may be exercised (i) by giving written notice to the Company specifying the number of whole SARs which are being exercised, (ii) by surrendering to the Company any options which are canceled by reason of the exercise of the Tandem SAR
and (iii) by executing such documents as the Company may reasonably request. A Free-Standing SAR may be exercised (i) by giving written notice to the Company specifying the whole number of SARs which are being exercised and (ii) by
executing such documents as the Company may reasonably request. 
 2.3. Termination of Employment or Service. Subject to the
requirements of the Code, all of the terms relating to the exercise, cancellation or other disposition of an option or SAR upon a termination of employment or service with the Company of the holder of such option or SAR, as the case may be, whether
by reason of disability, retirement, death or any other reason, shall be determined by the Committee. 
 2.4. No Repricing of Awards.
Notwithstanding anything in this Plan to the contrary and subject to Section 5.7, without the approval of stockholders, the Committee will not amend or replace previously granted options or SARs in a transaction that constitutes a
“repricing,” as such term is used in Section 303A.08 of the Listed Company Manual of the New York Stock Exchange. 
 III.
STOCK AWARDS 
 3.1. Stock Awards. The Committee may, in its discretion, grant Stock Awards to such eligible persons as may be
selected by the Committee. The Agreement relating to a Stock Award shall specify whether the Stock Award is a Restricted Stock Award, an Unrestricted Stock Award or a Restricted Stock Unit Award. The Committee may grant Stock Awards under this Plan
independently, in lieu of, or in conjunction with, any cash bonus award otherwise payable to an employee pursuant to the Pulte Homes, Inc. Senior Management Annual Incentive Plan or any other bonus or incentive plan maintained by the Company from
time to time. 
 3.2. Terms of Stock Awards. Stock Awards shall be subject to the following terms and conditions and shall be subject to
such additional terms and conditions, not inconsistent with the terms of this Plan, as the Committee shall deem advisable. 
 (a) Number
of Shares and Other Terms. The number of shares of Common Stock subject to a Restricted Stock Award, an Unrestricted Stock Award or a Restricted Stock Unit Award, and the Performance Measures (if any) and Restriction Period applicable to a
Restricted Stock Award or a Restricted Stock Unit Award shall be determined by the Committee. Unrestricted Stock Awards shall not be subject to any Performance Measures or Restriction Periods. 
 (b) Vesting and Forfeiture. The Agreement relating to a Restricted Stock Award or a Restricted Stock Unit Award shall provide, in the manner
determined by the Committee, in its discretion, and subject to the provisions of this Plan, for the vesting of the shares of Common 

  

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Stock subject to such Restricted Stock Award or the vesting of such Restricted Stock Unit Award (i) if specified Performance Measures are satisfied or
met during the specified Restriction Period, (ii) if the holder of such award remains continuously in the employment or service of the Company during the specified Restriction Period or (iii) if both of the conditions described in clauses
(i) and (ii) are satisfied during the specified Restriction Period, and for the forfeiture of all or a portion of the shares of Common Stock subject to such Restricted Stock Award or the forfeiture of such Restricted Stock Unit Award
(x) if specified Performance Measures are not satisfied or met during the specified Restriction Period or (y) if the holder of such award does not remain continuously in the employment or service of the Company during the specified
Restriction Period. 
 (c) Share Certificates. During the Restriction Period, a certificate or certificates representing a Restricted
Stock Award may be registered in the holder’s name or a nominee name at the discretion of the Company and may bear a legend, in addition to any legend which may be required pursuant to Section 5.6, indicating that the ownership of the
shares of Common Stock represented by such certificate is subject to the restrictions, terms and conditions of this Plan and the Agreement relating to the Restricted Stock Award. All certificates registered in the holder’s name shall be
deposited with the Company, together with stock powers or other instruments of assignment (including a power of attorney), each endorsed in blank with a guarantee of signature if deemed necessary or appropriate by the Company, which would permit
transfer to the Company of all or a portion of the shares of Common Stock subject to the Restricted Stock Award in the event such award is forfeited in whole or in part. Alternatively, the shares of Common Stock subject to a Restricted Stock Award
may be held by the Company or a custodian in book entry form, with restrictions on such shares duly noted, until the termination of any Restriction Period (and the satisfaction or attainment of any Performance Measures) applicable to such Restricted
Stock Award. Upon termination of any Restriction Period (and the satisfaction or attainment of any Performance Measures) applicable to a Restricted Stock Award or to a Restricted Stock Unit Award payable in whole or in part in shares of Common
Stock, or upon the grant of an Unrestricted Stock Award, in each case subject to the Company’s right to require payment of any taxes in accordance with Section 5.5, a certificate or certificates evidencing ownership of the requisite number
of shares of Common Stock shall be delivered to the holder of such award. 
 (d) Rights with Respect to Restricted Stock Awards.
Unless otherwise set forth in the Agreement relating to a Restricted Stock Award, and subject to the terms and conditions of a Restricted Stock Award, the holder of such award shall have all rights as a stockholder of the Company, including, but not
limited to, voting rights, the right to receive dividends and the right to participate in any capital adjustment applicable to all holders of Common Stock; provided, however, that a distribution with respect to shares of Common Stock,
other than a regular cash dividend, shall be deposited with the Company and shall be subject to the same restrictions as the shares of Common Stock with respect to which such distribution was made. 
 (e) Settlement of Vested Restricted Stock Unit Awards. The Agreement relating to a Restricted Stock Unit Award (i) shall specify whether such
award may be settled in shares of Common Stock or cash or a combination thereof and (ii) may specify whether the holder thereof shall be entitled to receive, on a current or deferred basis, dividend equivalents, and, if determined by the
Committee, interest on, or the deemed reinvestment of, any deferred dividend 

  

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equivalents, with respect to the number of shares of Common Stock subject to such award. Prior to the settlement of a Restricted Stock Unit Award in shares
of Common Stock, the holder of such award shall have no rights as a stockholder of the Company with respect to the shares of Common Stock subject to such award and shall have rights as a stockholder of the Company in accordance with
Section 5.11. 
 3.3. Termination of Employment or Service. All of the terms relating to the satisfaction of Performance Measures
and the termination of the Restriction Period relating to a Restricted Stock Award or a Restricted Stock Unit Award, or any forfeiture and cancellation of such award upon a termination of employment or service with the Company of the holder of such
award, whether by reason of disability, retirement, death or any other reason, shall be determined by the Committee. 
 IV. PERFORMANCE
SHARE AWARDS 
 4.1. Performance Share Awards. The Committee may, in its discretion, grant Performance Share Awards to such eligible
persons as may be selected by the Committee. 
 4.2. Terms of Performance Share Awards. Performance Share Awards shall be subject to the
following terms and conditions and shall be subject to such additional terms and conditions, not inconsistent with the terms of this Plan, as the Committee shall deem advisable. 
 (a) Number of Performance Shares and Performance Measures. The number of Performance Shares subject to a Performance Share Award and the
Performance Measures and Performance Period applicable to such award shall be determined by the Committee. 
 (b) Vesting and
Forfeiture. The Agreement relating to a Performance Share Award shall provide, in the manner determined by the Committee, in its discretion, and subject to the provisions of this Plan, for the vesting of such award, if specified Performance
Measures are satisfied or met during the specified Performance Period, and for the forfeiture of all or a portion of such award, if specified Performance Measures are not satisfied or met during the specified Performance Period. 
 (c) Settlement of Vested Performance Share Awards. The Agreement relating to a Performance Share Award (i) shall specify whether such award
may be settled in shares of Common Stock (including shares of Restricted Stock) or cash or a combination thereof and (ii) may specify whether the holder thereof shall be entitled to receive, on a current or deferred basis, dividend equivalents,
and, if determined by the Committee, interest on or the deemed reinvestment of any deferred dividend equivalents, with respect to the number of shares of Common Stock subject to such award. If a Performance Share Award is settled in shares of
Restricted Stock, a certificate or certificates representing such Restricted Stock shall be issued in accordance with Section 3.2(c) and the holder of such Restricted Stock shall have such rights of a stockholder of the Company as determined
pursuant to Section 3.2(d). Prior to the settlement of a Performance Share Award in shares of Common Stock, including Restricted Stock, the holder of such award shall have no rights as a stockholder of the Company with respect to the shares of
Common Stock subject to such award. 
  

 - 11 - 

 4.3 Termination of Employment or Service. All of the terms relating to the satisfaction of Performance
Measures and the termination of the Performance Period relating to a Performance Share Award, or any forfeiture and cancellation of such award upon a termination of employment or service with the Company of the holder of such award, whether by
reason of disability, retirement, death or any other reason, shall be determined by the Committee. 
 V. GENERAL 
 5.1. Effective Date and Term of Plan. This Plan shall be submitted to the stockholders of the Company for approval at the 2004 annual meeting of
stockholders and, if approved by a majority of the votes cast by the holders of shares of Common Stock entitled to vote, shall become effective on the date of such approval. This Plan shall terminate ten years after its effective date, unless
terminated earlier by the Board. Termination of this Plan shall not affect the terms or conditions of any award granted prior to termination. In the event that this Plan is not approved by the stockholders of the Company, this Plan and any awards
granted hereunder shall be null and void. 
 5.2. Amendments. The Board may amend this Plan as it shall deem advisable, subject to any
requirement of stockholder approval required by applicable law, rule or regulation, including Section 162(m) and Section 422 of the Code and any rule of the New York Stock Exchange or, if the Common Stock is not listed on the New York
Stock Exchange, any rule of the principal national stock exchange on which the Common Stock is then traded; provided, however, that no amendment shall be made without stockholder approval if such amendment would (a) increase the
maximum number of shares of Common Stock available under this Plan (subject to Section 5.7), (b) effect any change inconsistent with Section 422 of the Code or (c) extend the term of this Plan. No amendment may impair the rights
of a holder of an outstanding award without the consent of such holder. 
 5.3. Agreement. Each award shall be evidenced by an Agreement
executed by the Company and the recipient of such award and, upon execution by each party and delivery of the executed Agreement to the Company, such award shall be effective as of the effective date set forth in the Agreement. 
 5.4. Non-Transferability of Awards. Unless otherwise specified in the Agreement relating to an award, no award shall be transferable other than by
will, the laws of descent and distribution or pursuant to beneficiary designation procedures approved by the Company. Except to the extent permitted by the foregoing sentence or the Agreement relating to an award, each award may be exercised or
settled during the holder’s lifetime only by the holder or the holder’s legal representative or similar person. Except to the extent permitted by the second preceding sentence or the Agreement relating to an award, no award may be sold,
transferred, assigned, pledged, hypothecated, encumbered or otherwise disposed of (whether by operation of law or otherwise) or be subject to execution, attachment or similar process. Upon any attempt to so sell, transfer, assign, pledge,
hypothecate, encumber or otherwise dispose of any such award, such award and all rights thereunder shall immediately become null and void. 
 5.5.
Tax Withholding. The Company shall have the right to require, prior to the issuance or delivery of any shares of Common Stock or the payment of any cash pursuant to an award made 

  

 - 12 - 

 
hereunder, payment by the holder of such award of any Federal, state, local or other taxes which may be required to be withheld or paid in connection with
such award. An Agreement may provide that (i) the Company shall withhold whole shares of Common Stock which would otherwise be delivered to a holder, having an aggregate Fair Market Value determined as of the date the obligation to withhold or
pay taxes arises in connection with an award (the “Tax Date”), or withhold an amount of cash which would otherwise be payable to a holder, in the amount necessary to satisfy any such obligation or (ii) the holder may satisfy
any such obligation by any of the following means: (A) a cash payment to the Company, (B) delivery (either actual delivery or by attestation procedures established by the Company) to the Company of Mature Shares having an aggregate Fair
Market Value, determined as of the Tax Date, equal to the amount necessary to satisfy any such obligation, (C) authorizing the Company to withhold whole shares of Common Stock which would otherwise be delivered having an aggregate Fair Market
Value, determined as of the Tax Date, or withhold an amount of cash which would otherwise be payable to a holder, equal to the amount necessary to satisfy any such obligation, (D) in the case of the exercise of an option, except as may be
prohibited by applicable law, a cash payment by a broker-dealer acceptable to the Company to whom the optionee has submitted an irrevocable notice of exercise or (E) any combination of (A), (B) and (C), in each case to the extent set forth
in the Agreement relating to the award. Any fraction of a share of Common Stock which would be required to satisfy such an obligation shall be disregarded and the remaining amount due shall be paid in cash by the holder. 
 5.6. Restrictions on Shares. Each award made hereunder shall be subject to the requirement that if at any time the Company determines that the
listing, registration or qualification of the shares of Common Stock subject to such award upon any securities exchange or under any law, or the consent or approval of any governmental body, or the taking of any other action is necessary or
desirable as a condition of, or in connection with, the exercise or settlement of such award or the delivery of shares thereunder, such award shall not be exercised or settled and such shares shall not be delivered unless such listing, registration,
qualification, consent, approval or other action shall have been effected or obtained, free of any conditions not acceptable to the Company. The Company may require that certificates evidencing shares of Common Stock delivered pursuant to any award
made hereunder bear a legend indicating that the sale, transfer or other disposition thereof by the holder is prohibited except in compliance with the Securities Act of 1933, as amended, and the rules and regulations thereunder. 
 5.7. Adjustment. In the event of any stock split, stock dividend, recapitalization, reorganization, merger, consolidation, combination, exchange of
shares, liquidation, spin-off or other similar change in capitalization or event, or any distribution to holders of Common Stock other than a regular cash dividend, the number and class of securities available under this Plan, the maximum number of
securities available for Stock Awards and Performance Share Awards, the number and class of securities subject to each outstanding option and the purchase price per security, the maximum number of securities with respect to which options or SARs or
a combination thereof, or Stock Awards or Performance Share Awards, may be granted during any calendar year to any person, the terms of each outstanding SAR, the number and class of securities subject to each outstanding Stock Award or Performance
Share Award, and the terms of each outstanding Restricted Stock Award, Restricted Stock Unit Award or Performance Share Award shall be appropriately adjusted by the Committee, such adjustments to be made in the case of outstanding options and SARs
without an increase in the aggregate purchase price or 

  

 - 13 - 

 
base price. The decision of the Committee regarding any such adjustment shall be final, binding and conclusive. If any such adjustment would result in a
fractional security being (a) available under this Plan, such fractional security shall be disregarded, or (b) subject to an award under this Plan, the Company shall pay the holder of such award, in connection with the first vesting,
exercise or settlement of such award in whole or in part occurring after such adjustment, an amount in cash determined by multiplying (i) the fraction of such security (rounded to the nearest hundredth) by (ii) the excess, if any, of
(A) the Fair Market Value on the vesting, exercise or settlement date over (B) the exercise or base price, if any, of such award. 
 5.8.
Change in Control. 
 (a) (1) Notwithstanding any provision in this Plan, unless otherwise specified in the Agreement relating to
an award, in the event of a Change in Control pursuant to Section (b)(3) or (4) below in connection with which the holders of Common Stock receive shares of common stock that are registered under Section 12 of the Exchange Act,
(i) all outstanding options and SARs shall immediately become exercisable in full, (ii) the Restriction Period applicable to any outstanding Restricted Stock Award or Restricted Stock Unit Award shall lapse, (iii) the Performance
Period applicable to any outstanding Performance Share shall lapse, (iv) the Performance Measures applicable to any outstanding award shall be deemed to be satisfied at the greater of (A) the projected level of performance for the
Performance Period, based on the extent to which the applicable Performance Measures have been satisfied as of the date of the Change in Control, and (B) the target level of performance for the Performance Period, and (v) there shall be
substituted for each share of Common Stock available under this Plan, whether or not then subject to an outstanding award, the number and class of shares into which each outstanding share of Common Stock shall be converted pursuant to such Change in
Control. In the event of any such substitution, the purchase price per share in the case of an option and the base price in the case of an SAR shall be appropriately adjusted by the Committee (whose determination shall be final, binding and
conclusive), such adjustments to be made in the case of outstanding options and SARs without an increase in the aggregate purchase price or base price. 
 (2) Notwithstanding any provision in this Plan, unless otherwise specified in the Agreement relating to an award, in the event of a Change in Control pursuant to Section (b)(1) or (2) below, or in the event of a
Change in Control pursuant to Section (b)(3) or (4) below in connection with which the holders of Common Stock receive consideration other than shares of common stock that are registered under Section 12 of the Exchange Act, each
outstanding award shall be surrendered to the Company by the holder thereof, and each such award shall immediately be canceled by the Company, and the holder shall receive, within ten days of the occurrence of a Change in Control, a cash payment
from the Company in an amount equal to (i) in the case of an option, the number of shares of Common Stock then subject to such option, multiplied by the excess, if any, of the greater of (A) the highest per share price offered to
stockholders of the Company in any transaction whereby the Change in Control takes place or (B) the Fair Market Value of a share of Common Stock on the date of occurrence of the Change in Control, over the purchase price per share of Common
Stock subject to the option, (ii) in the case of a Free-Standing SAR, the number of shares of Common Stock then subject to such SAR, multiplied by the excess, if any, of the greater of (A) the highest per share price offered to
stockholders of the Company in any transaction whereby the Change in Control takes place or (B) the Fair Market Value of a share of Common Stock on the date of occurrence of the Change 

  

 - 14 - 

 
in Control, over the base price of the SAR, (iii) in the case of a Restricted Stock Award, Restricted Stock Unit Award or Performance Share Award, the
number of shares of Common Stock, the number of Restricted Stock Units or the number of Performance Shares, as the case may be, then subject to such award, multiplied by the greater of (A) the highest per share price offered to stockholders of
the Company in any transaction whereby the Change in Control takes place or (B) the Fair Market Value of a share of Common Stock on the date of occurrence of the Change in Control. In the event of a Change in Control, each Tandem SAR shall be
surrendered by the holder thereof and shall be canceled simultaneously with the cancellation of the related option. 
 (b) “Change in
Control” shall mean: 
 (1) the acquisition by any individual, entity or group (a “Person”), including any
“person” within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act, of beneficial ownership within the meaning of Rule 13d-3 promulgated under the Exchange Act, of 40% or more of either (i) the then outstanding
shares of common stock of the Company (the “Outstanding Common Stock”) or (ii) the combined voting power of the then outstanding securities of the Company entitled to vote generally in the election of directors (the
“Outstanding Voting Securities”); excluding, however, the following: (A) any acquisition directly from the Company (excluding any acquisition resulting from the exercise of an exercise, conversion or exchange privilege unless
the security being so exercised, converted or exchanged was acquired directly from the Company), (B) any acquisition by the Company, (C) any acquisition by an employee benefit plan (or related trust) sponsored or maintained by the Company
or any corporation controlled by the Company, (D) any acquisition by any corporation pursuant to a transaction which complies with clauses (i), (ii) and (iii) of subsection (3) of this Section 5.8(b) or (E) any
acquisition by any one or more Exempt Persons; provided further, that for purposes of clause (B), if any Person (other than the Company, any one or more Exempt Persons or any employee benefit plan (or related trust) sponsored or maintained by the
Company or any corporation controlled by the Company) shall become the beneficial owner of 40% or more of the Outstanding Common Stock or 40% or more of the Outstanding Voting Securities by reason of an acquisition by the Company, and such Person
shall, after such acquisition by the Company, become the beneficial owner of any additional shares of the Outstanding Common Stock or any additional Outstanding Voting Securities and such beneficial ownership is publicly announced, such additional
beneficial ownership shall constitute a Change in Control; 
 (2) individuals who, as of the date hereof, constitute the Board (the
“Incumbent Board”) cease for any reason to constitute at least a majority of such Board; provided that any individual who becomes a director of the Company subsequent to the date hereof whose election, or nomination for election by
the Company’s stockholders, was approved by the vote of at least a majority of the directors then comprising the Incumbent Board shall be deemed a member of the Incumbent Board; and provided further, that any individual who was initially
elected as a director of the Company as a result of an actual or threatened solicitation by a Person other than the Board for the purpose of opposing a solicitation by any other Person with respect to the election or removal of directors, or any
other actual or threatened solicitation of proxies or consents by or on behalf of any Person other than the Board shall not be deemed a member of the Incumbent Board; 
  

 - 15 - 

 (3) the consummation of a reorganization, merger or consolidation or sale or other disposition of all or
substantially all of the assets of the Company (a “Corporate Transaction”); excluding, however, a Corporate Transaction pursuant to which (i) all or substantially all of the individuals or entities who are the beneficial
owners, respectively, of the Outstanding Common Stock and the Outstanding Voting Securities immediately prior to such Corporate Transaction will beneficially own, directly or indirectly, more than 60% of, respectively, the outstanding shares of
common stock, and the combined voting power of the outstanding securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Corporate Transaction (including, without limitation, a
corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or indirectly) in substantially the same proportions relative to each other as their ownership, immediately
prior to such Corporate Transaction, of the Outstanding Common Stock and the Outstanding Voting Securities, as the case may be, (ii) no Person (other than: the Company; any employee benefit plan (or related trust) sponsored or maintained by the
Company or any corporation controlled by the Company; the corporation resulting from such Corporate Transaction; and any Person which beneficially owned, immediately prior to such Corporate Transaction, directly or indirectly, 40% or more of the
Outstanding Common Stock or the Outstanding Voting Securities, as the case may be) will beneficially own, directly or indirectly, 40% or more of, respectively, the outstanding shares of common stock of the corporation resulting from such Corporate
Transaction or the combined voting power of the outstanding securities of such corporation entitled to vote generally in the election of directors and (iii) individuals who were members of the Incumbent Board will constitute at least a majority
of the members of the board of directors of the corporation resulting from such Corporate Transaction; or 
 (4) the consummation of a plan
of complete liquidation or dissolution of the Company. 
 5.9. Deferrals. The Committee may determine that the delivery of shares of
Common Stock or the payment of cash, or a combination thereof, upon the exercise or settlement of all or a portion of any award made hereunder shall be deferred, or the Committee may, in its sole discretion, approve deferral elections made by
holders of awards. Deferrals shall be for such periods and upon such terms as the Committee may determine in its sole discretion. 
 5.10. No
Right of Participation, Employment or Service. No person shall have any right to participate in this Plan. Neither this Plan nor any award made hereunder shall confer upon any person any right to continued employment by or service with the
Company, any Subsidiary or any affiliate of the Company or affect in any manner the right of the Company, any Subsidiary or any affiliate of the Company to terminate the employment or service of any person at any time without liability hereunder.

 5.11. Rights as Stockholder. No person shall have any right as a stockholder of the Company with respect to any shares of Common
Stock or other equity security of the Company which is subject to an award hereunder unless and until such person becomes a stockholder of record with respect to such shares of Common Stock or equity security. 
  

 - 16 - 

 5.12. Designation of Beneficiary. If permitted by the Company, a holder of an award may file with
the Committee a written designation of one or more persons as such holder’s beneficiary or beneficiaries (both primary and contingent) in the event of the holder’s death. To the extent an outstanding option or SAR granted hereunder is
exercisable, such beneficiary or beneficiaries shall be entitled to exercise such option or SAR pursuant to procedures prescribed by the Committee. 
 Each beneficiary designation shall become effective only when filed in writing with the Committee during the holder’s lifetime on a form prescribed by the Committee. The spouse of a married holder domiciled in a community property
jurisdiction shall join in any designation of a beneficiary other than such spouse. The filing with the Committee of a new beneficiary designation shall cancel all previously filed beneficiary designations. 
 If a holder fails to designate a beneficiary, or if all designated beneficiaries of a holder predecease the holder, then each outstanding option and SAR
hereunder held by such holder, to the extent exercisable, may be exercised by such holder’s executor, administrator, legal representative or similar person. 
 5.13. Governing Law. This Plan, each award hereunder and the related Agreement, and all determinations made and actions taken pursuant thereto, to the extent not otherwise governed by the Code or the laws of the United
States, shall be governed by the laws of the State of Michigan and construed in accordance therewith without giving effect to principles of conflicts of laws. 
 5.14. Foreign Employees. Without amending this Plan, the Committee may grant awards to eligible persons who are subject to the laws of foreign countries or jurisdictions on such terms and conditions different from those
specified in this Plan as may in the judgment of the Committee be necessary or desirable to foster and promote achievement of the purposes of this Plan and, in furtherance of such purposes the Committee may make such modifications, amendments,
procedures, subplans and the like as may be necessary or advisable to comply with provisions of laws of other countries or jurisdictions in which the Company or its Subsidiaries operate or have employees. 
  

 - 17 -Stock Purchase Agreement

 Exhibit 10.1 
 STOCK PURCHASE AGREEMENT 
 THIS STOCK PURCHASE AGREEMENT (this “Agreement”)
is entered into as of May 18, 2009 (the “Effective Date”), by and between Peter T. Bulger (“Seller”) and U.S. Home Systems, Inc., a Delaware corporation (the “Company”).

 WHEREAS, Seller is the record and beneficial owner of 204,345 shares of the common stock, $0.001 par value per share, of the Company (the
“Subject Shares”), as evidenced by the list of stock certificates set forth in Schedule A attached hereto, issued in the name of Seller (collectively the “Certificates”); and 
 WHEREAS, Seller wishes to sell, assign and transfer to Company and the Company wishes to purchase and acquire from Seller the Subject Shares, subject to
the terms and conditions of this Agreement; and 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained
and for other good and valuable consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 
 1. Sale of the Subject Shares. 
 (a) Sale/Purchase. Upon the terms and conditions set forth in this Agreement, Seller
hereby sells, assigns and transfers the Subject Shares to the Company, free and clear of any and all claims, liens (including liens for taxes), mortgages, security interests, pledges, leases, options, rights of first refusal or first offer, charges
and other encumbrances, and the Company hereby purchases the Subject Shares from Seller. 
 (b) Purchase Price. Subject to the terms
of this Agreement and in reliance on the representations and warranties of the Seller, the Company hereby purchases the Subject Shares from Seller, and in full consideration therefor, the Company shall pay to Seller $459,776.25 for the Subject
Shares or $2.25 per share, (the “Purchase Price”), which shall be paid to Seller in accordance with Section 1(d). 
 (c) Deliveries of Seller. Contemporaneously with the execution of this Agreement and the delivery of the Purchase Price to Seller by the Company, Seller shall deliver or cause to be delivered to the Company the
Certificates, in their original form, duly endorsed with signatures guaranteed by an “Eligible Guarantor Institution” as defined in Rule 17Ad-15 under the Securities Exchange Act of 1934, as amended, which shall represent all the Subject
Shares. 
 (d) Deliveries of the Company. Contemporaneously with the execution of this Agreement, the Company shall deliver the
Purchase Price to Seller by wire transfer of immediately available funds (or such other form of payment as may be mutually acceptable to the Company and Seller) to the account or accounts set forth in written instructions from Seller to the Company
on the date hereof. 
  

					
		 	1	 	Peter Bulger Stock Purchase Agreement

 2. Representations and Warranties of Seller. Seller hereby represents and warrants to the Company that:

 (a) Authority. Seller has the absolute and unrestricted power and authority to execute and deliver this Agreement, to carry out his
obligations hereunder and to consummate the transactions contemplated hereby. This Agreement has been duly executed and delivered by Seller and, assuming due authorization, execution and delivery hereof by the Company, constitutes a legal, valid and
binding obligation of Seller, enforceable in accordance with the terms hereof, except as such enforceability may be limited by bankruptcy, insolvency, moratorium or other laws affecting creditors’ rights generally and general principles of
equity. 
 (b) Title. Seller has good and indefeasible title to the Subject Shares, free and clear of any claims, liens (including
liens for taxes), mortgages, security interests, pledges, leases, options, rights of first refusal or first offer, charges and other encumbrances. Other than this Agreement, there are no outstanding subscriptions, options, warrants, rights,
contracts, understandings or agreements to purchase or otherwise acquire the Subject Shares. 
 (c) Capitalization. The Subject Shares
represent all of the outstanding shares of the capital stock of the Company owned, directly or indirectly, by Seller, except for 5,616 shares held in custodian accounts for the children of the Seller. 
 (d) No Litigation. There are no actions, suits, investigations or proceedings, at law or in equity or before or by any governmental authority or
instrumentality or before any arbitrator of any kind, pending or, to the knowledge of Seller, threatened which seek to delay or enjoin the consummation of the transactions contemplated hereby. 
 (e) No Conflicts. Neither the execution and delivery of this Agreement nor the consummation of the transactions contemplated hereby will
(i) violate or breach, or otherwise constitute or give rise to a default under, the terms or provisions of any contract, commitment or other obligation to which Seller, or to the knowledge of Seller, the Company, is a party; (ii) create or
result in the creation of any encumbrance or lien on any of the Subject Stock; (iii) result in a violation by Seller or the Company of any applicable legal requirement; or (iv) otherwise constitute an event which, with notice, lapse of
time, or both, would result in any of the foregoing. 
 (f) Taxes. Seller has been fully advised by Seller’s own advisors as to,
and fully understands and accepts, the legal, tax and economic aspects of the consummation of the transactions contemplated by this Agreement. 
 (g) Disclosure. Seller acknowledges that he has received and reviewed Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008 and the Quarterly Report for the three month period ended March 31,
2009 on Form 10-Q. 
 3. Consents. Seller and the Company shall use their reasonable efforts to obtain the consent, approval or authorization of, or
make any declaration or filing with, any governmental authority or other persons or entities as required in connection with the execution or delivery of this Agreement or the consummation of the transactions contemplated hereby. 
 4. Further Assurances. Seller agrees to execute and deliver from time to time at the request of the Company and without further consideration, such additional
instruments of conveyance and transfer, and 

  

					
		 	2	 	Peter Bulger Stock Purchase Agreement

 
to take such other actions and execute and deliver such other documents, certifications and further assurances as the Company may reasonably require, in
order to carry out the transactions contemplated by this Agreement. 
 5. Miscellaneous. 
 (a) (i) Taxes; Expenses. Any federal or state income taxes or any sales, use of similar transfer taxes, and any transfer, recording or similar fees
and charges arising in connection with the transfer of the Subject Shares to the Company shall be the responsibility of, and paid by, Seller. Each of the parties hereto shall bear its own fees and expenses in connection with the purchase and sale of
the Subject Shares and the other transactions contemplated by this Agreement. 
 (ii) No Brokers. Seller and the Company each
represent to the other that neither it nor any of its respective affiliates have employed any broker or finder or incurred any liability for any brokerage or finder’s fees or commissions or expenses related thereto in connection with the
negotiation, execution or consummation of this Agreement or any of the transactions contemplated hereby and respectively agree to indemnify and hold the other harmless from and against any and all claims, liabilities or obligations with respect to
any such fees, commissions or expenses asserted by any person on the basis of any act or statement alleged to have been made by such party or any of its affiliates. 
 (b) Notices. All notices, consents, waivers, and other communications under this Agreement must be writing and will be deemed to have been duly given when (a) delivered by hand (with written confirmation
of receipt), (b) sent by facsimile (with written confirmation of receipt), provided that a copy is mailed by registered mail, return receipt requested, or (c) when received by the addressee, if sent by a nationally recognized overnight
delivery service (receipt requested), in each case to the appropriate addresses and facsimile numbers set forth below (or to such other addresses and facsimile numbers as a party may designate by notice to the other parties): 
  

					
	If to the Company:	 	 U.S. Home Systems, Inc.
 405 State Highway121
Bypass, Building A
 Suite 250
 Lewisville, Texas 75067

Attn: Richard B. Goodner

			
	If to the Executive:	 	 Peter T. Bulger
 3100 Harvard Ct.
 Plano, Texas 75093
	  	

 (c) Waiver. Neither the failure nor delay by any party in exercising any right, power or
privilege under this Agreement shall operate as a waiver of such right, power or privilege, and no single or partial exercise of any such right, power or privilege shall preclude any other or further exercise of such right, power or privilege or the
exercise of any other right, power or privilege. To the maximum extent permitted by applicable law, no waiver of any provision of this Agreement shall be effective unless in writing and signed by the waiving party. 
 (d) Entire Agreement; Amendment. This Agreement sets forth the full and complete agreement of the parties with respect to the subject matter
hereof, and the parties hereby warrant and agree that there have been no promises, obligations or undertakings, oral or written, other than those set forth in this Agreement. This Agreement may not be amended except by a written agreement executed
by all of the parties. 
  

					
		 	3	 	Peter Bulger Stock Purchase Agreement

 (e) Successors and Assigns; Third Parties. Neither party may assign this Agreement, or any of such
party’s rights or obligations hereunder, without the prior written consent of the other party. Subject to the preceding sentence of this Section 5(e), this Agreement shall apply to, be binding in all respects upon, and inure to
the benefit of the successors and permitted assigns of the parties hereto. Any purported assignment in violation of this Section 5(e) shall be void for all purposes. Nothing expressed or referred to in this Agreement shall be construed to
give any person or entity other than the parties any legal or equitable right, remedy, or claim under or with respect to this Agreement or any provision hereof. This Agreement and all of its provisions and conditions are for the sole and exclusive
benefit of the parties hereto and their permitted successors and assigns. 
 (f) Severability. In the event any provision of this
Agreement would, under applicable law, be invalid or unenforceable in any respect, such provision shall (to the extent permitted by applicable law) be construed by modifying or limiting it so as to be valid and enforceable to the maximum extent
compatible with, and possible under, applicable law. The provisions hereof are severable, and in the event any provision hereof should be held invalid or unenforceable in any respect, it shall not invalidate, render unenforceable or otherwise affect
any other provision of this Agreement. 
 (g) Governing Law; Jurisdiction. This Agreement shall be governed by and construed under the
internal laws of the State of Texas, without reference to principles of conflict of laws or choice of laws. 
 (h) Section Headings;
Construction. The headings of sections in this Agreement are provided for convenience only and shall not affect the construction or interpretation hereof. All references to “Section” or “Sections” refer to the corresponding
Section or Sections of this Agreement. All words used in this Agreement shall be construed to be of such gender or number as the circumstances require. Unless otherwise expressly provided, the word “including” does not limit the preceding
words or terms. 
 (i) Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed to be an
original copy of this Agreement and all of which, when taken together, shall be deemed to constitute one and the same agreement. Delivery of a copy of this Agreement bearing an original signature by facsimile transmission or by electronic mail in
“portable document format” form shall have the same effect as physical delivery of the paper document bearing the original signature. 
 (j) Joinder by Spouse. By her execution hereof, Susan Bulger, Seller’s spouse, hereby acknowledges and agrees that: (i) she is fully aware of, understands and fully consents and agrees to the consummation of the
transactions contemplated by this Agreement, including, without limitation, the sale and transfer of the Subject Shares to the Company for the consideration set forth herein; and (ii) this Agreement shall be binding on her and any community
property interest she may otherwise have with respect to the Subject Shares. 
 SIGNATURES APPEAR ON THE FOLLOWING PAGE 
  

					
		 	4	 	Peter Bulger Stock Purchase Agreement

 IN WITNESS WHEREOF, this Agreement has been executed by the parties hereto as of the Effective Date.

  

			
	COMPANY
	
	U.S. HOME SYSTEMS, INC
		
	By:	 	 /s/ Murray H. Gross

		 	Murray H. Gross
		 	Chief Executive Officer
	
	SELLER
		
	By:	 	 /s/ Peter T. Bulger

		 	Peter T. Bulger

 The undersigned spouse of Seller hereby executes this Agreement for purposes of Section
5(j). 
  

	
	 /s/ Susan Bulger

	Susan Bulger

 Signature Page to Bulger Stock Purchase Agreement 

 Schedule A 
 To 
 Stock Purchase Agreement 
 Schedule of shares of common stock owned by Peter T. Bulger: 
  

							
	  	 	 Certificate Number
	  	Number of Shares	  	 
	 	4344-8	  	2,000	  
	 	4274-7	  	1,818	  
	 	4403-2	  	3,165	  
	 	4277-0	  	1,817	  
	 	4343-0	  	4,000	  
	 	4146-7	  	137,909	  
	 	4215-0	  	50,000	  
	 	4275-4	  	1,818	  
	 	4276-2	  	1,818	  
	 	 	  	 	  
	 	Total	  	204,345	  

  

 6

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