Document:

Owens & Minor, Inc. Directors' Deferred Compensation Plan

 OWENS & MINOR, INC. 
 DIRECTORS’ DEFERRED COMPENSATION PLAN 
 As Amended and Restated 
 Effective January 1, 2005 

 TABLE OF CONTENTS 
  

			
	 INTRODUCTION
	  	1
		
	 ARTICLE I DEFINITIONS
	  	1
		
	 ARTICLE II ADMINISTRATION
	  	3
		
	 ARTICLE III DEFERRED FEE PROGRAM
	  	4
		
	 ARTICLE IV SHAREHOLDER RIGHTS
	  	8
		
	 ARTICLE V ADJUSTMENT UPON CHANGE IN COMMON STOCK
	  	8
		
	 ARTICLE VI COMPLIANCE WITH LAW, ETC.
	  	8
		
	 ARTICLE VII GENERAL PROVISIONS
	  	9
		
	 ARTICLE VIII AMENDMENT AND TERMINATION
	  	9
		
	 ARTICLE IX DURATION OF PLAN
	  	9

 INTRODUCTION 
 The Owens & Minor Directors’ Deferred Compensation Plan (the Plan) is effective as of January 1, 2005. The Plan is an amendment and restatement of the Deferred Fee Program that was part of the
Owens & Minor, Inc. 2003 Directors’ Compensation Plan (the 2003 Plan). Except with respect to the Deferred Fee Program, the 2003 Plan remains effective in accordance with its terms and is not affected by the adoption of the Plan.

 The Plan governs both a Participant’s Grandfather Account, i.e., the portion of a Participant’s Account that was credited
on or before, December 31, 2004 (as adjusted for investment earnings and losses after 2004) and the Participant’s Current Account, i.e., the portion of a Participant’s Account that was credited on and after January 1, 2005
(as adjusted for investment earnings and losses). 
 The Deferred Fee Program under the 2003 Plan is amended and restated to assure
compliance with Section 409A of the Code. The Plan must be administered and interpreted so that (i) the Grandfather Accounts remain exempt from Section 409A of the Code and (ii) the requirements of Section 409A of the Code
are satisfied with respect to the Current Accounts. 
 The Plan is intended to assist the Company in promoting a greater identity of interest
between Participants and the Company and its shareholders. The Plan is also intended to assist the Company in attracting and retaining non-employee Directors by affording them an opportunity to share in the future success of the Company. 

ARTICLE I 
 DEFINITIONS

  

	1.01.	Account 

 Account means an unfunded deferred
compensation account established by the Company pursuant to the Plan, consisting of one or more Subaccounts. A Participant’s Account also shall be divided, if appropriate, into a Grandfather Account and a Current Account. 
  

	1.02.	Allocation Date 

 Allocation Date means any
date on which an amount representing all or a part of a Participant’s Compensation is to be credited to his or her Account pursuant to an effective deferral election. The Allocation Date for the Retainer Fee shall be the date the Retainer Fee
was payable (but for the deferral election) and for Meeting Fees shall be the date the meeting is held. 
  

	1.03.	Beneficiary 

 Beneficiary means any person or
entity designated as such in a current Election Form. If there is no valid designation or if no designated Beneficiary survives the Participant, the Beneficiary is the Participant’s estate. 
  

	1.04.	Board 

 Board means the Board of Directors of
the Company. 
  

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	1.05.	Code 

 Code means the Internal Revenue Code
of 1986, and any amendments thereto. 
  

	1.06.	Committee 

 Committee means the Governance
and Nominating Committee of the Board. 
  

	1.07.	Common Stock 

 Common Stock means the Common
Stock of the Company. 
  

	1.08.	Common Stock Account 

 Common Stock Account
means the Subaccount whose value shall be based on the value of units representing shares of Common Stock and dividend equivalents. 
  

	1.09.	Company 

 Company means Owens &
Minor, Inc. 
  

	1.10.	Compensation 

 Compensation means the sum of
the Retainer Fee and the Meeting Fees payable by the Company to each Participant, including any additional amount paid to a chairman of a committee for additional services. 
  

	1.11.	Current Account 

 Current Account means the
portion of the Account reflecting the deferral of Compensation that otherwise was payable after 2004. 
  

	1.12.	Deferred Amount 

 Deferred Amount means the
amount (determined as a percentage of the Retainer Fee and the Meeting Fees) subject to a current deferral election. 
  

	1.13.	Election Date 

 Election Date means the date
established by the Committee by which a Participant must submit a valid Election Form to the Committee. Except as provided in the following sentence, the Election Date shall not be later than December 31 preceding the calendar year in which
Compensation is earned. In the year that an individual is first elected or appointed to the Board, the Election Date shall be the thirtieth day after the date of such election or appointment if the individual was not previously eligible to
participate in a nonqualified deferred compensation plan that was maintained by the Company and that provided a benefit based on an individual account balance. 
  

	1.14.	Election Form 

 Election Form means a valid
deferral election form (in the form approved by the Committee) properly completed and signed and that specifies the Deferred Amount and the time at which, and the form in which, the Deferred Amount will be distributed. 
  

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	1.15.	Exchange Act 

 Exchange Act means the
Securities Exchange Act of 1934, as amended. 
  

	1.16.	Extraordinary Distribution Request Form 

 Extraordinary Distribution Request Form means the extraordinary distribution request form (in the form approved by the Committee) properly completed and executed by a Participant, or Beneficiary who wishes to request an extraordinary
distribution of amounts credited to his or her Account in accordance with Section 3.09. 
  

	1.17.	Grandfather Account 

 Grandfather Account
means the portion of the Account reflecting the deferral of Compensation that otherwise was payable before 2005. 
  

	1.18.	Meeting Fees 

 Meeting Fees means the portion
of a Participant’s Compensation that is based upon his or her attendance at Board meetings and meetings of committees of the Board. 
  

	1.19.	Participant 

 Participant means a member of
the Board who is not then an employee or officer of the Company. An individual shall continue to be a Participant as long as an Account is being maintained for his or her benefit. 
  

	1.20.	Plan 

 Plan means the Owens & Minor,
Inc. Director’s Deferred Compensation Plan. 
  

	1.21.	Retainer Fee 

 Retainer Fee means the portion
of a Participant’s Compensation that is fixed and paid without regard to his or her attendance at meetings and, for purposes of clarification, includes such amounts paid in cash and Stock Awards. 
  

	1.22.	Stock Award 

 Stock Award means the portion
of a Participant’s Retainer Fee, if any, that is payable in shares of Common Stock. 
  

	1.23.	Subaccount 

 Subaccount means a subaccount
established in accordance with Section 3.03. 
 ARTICLE II 
 ADMINISTRATION 
 The Plan shall be administered by the Committee. The
Committee shall have complete authority to interpret all provisions of this Plan; to prescribe the forms that will be used under the Plan; to adopt, amend, and rescind rules and regulations pertaining to the administration of the 

  

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Plan; and to make all other determinations necessary or advisable for the administration of this Plan. The express grant in the Plan of any specific power to
the Committee shall not be construed as limiting any power or authority of the Committee. Any decision made, or action taken, by the Committee or in connection with the administration of this Plan shall be final and conclusive. No member of the
Committee shall be liable for any act done in good faith with respect to this Plan. All expenses of administering this Plan shall be paid by the Company. 
 ARTICLE III 
 DEFERRED FEE PROGRAM 
  

	3.01.	Deferral Elections 

 (a) A Participant may
make a deferral election with respect to all or a part of his or her Compensation to be earned and payable after the Election Date by completing and executing an Election Form and submitting it to the Secretary of the Company. A deferral election
relating to a Retainer Fee shall be in integral multiples of twenty-five percent (25%) of the portion of the Retainer Fee payable in cash and an integral multiple of twenty-five percent (25%) of the portion of the Retainer Fee payable as a
Stock Award. A deferral election relating to Meeting Fees shall be in integral multiples of twenty-five percent (25%) of each Meeting Fee. On or before the Election Date, an individual who is not a member of the Board may complete an Election
Form contingent upon the individual becoming a Participant in which case the Deferral Election will be effective with respect to all or part of his or her Compensation to be earned and payable on and after becoming a Participant and after the date
of the deferral election. 
 (b) In accordance with the terms of the Plan, the Participant shall indicate on the Election Form: (i) the
percentage of the Retainer Fee and the percentage of the Meeting Fee that he or she wishes to defer; (ii) the Distribution Date; (iii) whether distributions are to be in a lump sum, in installments or a combination thereof; (iv) his
or her Beneficiary or Beneficiaries; and (v) the Subaccounts to which the Deferred Amount is to be allocated. 
 (c) A deferral election
shall remain in effect with respect to all future Compensation until a new deferral election is made by the Participant in accordance with Section 3.01(a); provided, however, that on each Election Date a deferral election becomes irrevocable
with respect to Compensation to be earned and payable in the calendar year after the Election Date. 
  

	3.02.	Beneficiary Election Modification 

 A
Participant shall be permitted at any time to modify his or her Beneficiary designation by completing and executing a new Election Form and submitting it to the Secretary of the Company. 
  

	3.03.	Investments 

 (a) The Company shall establish
an Account (for bookkeeping purposes only), for each Participant and for each Beneficiary to whom installment distributions are being made. On each Allocation Date, the Company shall allocate to each Participant’s Account an amount equal to his
Deferred Amount. 
  

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 (b) The Company shall establish within each Account one or more Subaccounts, which shall be credited with
earnings and charged with losses, if any. One Subaccount shall be the Common Stock Account. The other Subaccounts, if any, shall be designated by the Committee from time to time. 
 (c) Subject to the provisions of Sections 3.04 and 3.05, on each Allocation Date, each Participant’s Subaccount shall be credited with an amount
equal to the Deferred Amount designated by the Participant for allocation to such Subaccounts. Each Subaccount shall be credited with earnings and charged with losses as if the amounts allocated thereto actually had been invested in the investment
designated as that subaccount. 
  

	3.04.	Investment Directions 

 In connection with
his or her initial deferral election, each Participant shall make an investment direction on his or her Election Form with respect to the portion of such Participant’s Deferred Amount that is to be allocated to each Subaccount of the
Participant’s Account. Any apportionment of Deferred Amounts (and of increases or decreases in Deferred Amounts) among the Subaccounts shall be in integral multiples of ten percent (10%). An investment direction shall become effective with
respect to a Subaccount on the first day of the calendar month following the Election Date. All investment directions shall remain in effect with respect to all future Deferred Amounts until a new investment direction made by the Participant in
accordance with Section 3.05 becomes effective. 
  

	3.05.	New Investment Directions 

 A Participant may
make a new investment direction with respect to his or her Deferred Amount only by completing and executing a new Election Form and submitting it to the Secretary of the Company. A new investment direction shall become effective with respect to a
Subaccount on the first day of the calendar month following the Election Date. 
  

	3.06.	Investment Transfers 

 A Participant or a
Beneficiary (after the death of the Participant) may transfer to one or more different Subaccounts all or a part (in integral multiples of ten percent (10%)) of the amounts credited to a Subaccount by completing and executing a transfer form
and submitting it to the Secretary of the Company. Except as provided in the following sentence, any transfer of amounts among the Subaccounts shall become effective on the first day of the calendar month following the specified transfer date. With
respect to a transfer to or from the Common Stock Account of a Participant then subject to Section 16 of the Exchange Act, the transfer shall become effective on the first day of the first calendar month following the specified transfer date
that is at least six months after the Participant’s most recent “opposite way” discretionary transaction (as such term is defined in Securities and Exchange Commission Rule 16b-3). 
  

	3.07.	Distribution Elections 

 (a) A
Participant’s Grandfather Account shall be distributed on the date or the occurrence of the event as specified in one or more Election Forms as in effect on December 31, 2004. 
  

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 (b) A Participant’s Current Account shall be distributed on the date or the occurrence of the event
as specified in one or more Election Forms subject to the following: 
 (1) Each Participant shall designate on his or her
Election Form a distribution date for the Participant’s Current Account. Subject to clause (2) below, the distribution date may be (i) the first day of a calendar month specified by the Participant, (ii) the first day of a
calendar month following the date of termination of the Participant’s service as a member of the Board, (iii) the earlier of a specified date or termination of service on the Board or (iv) the later of a specified date or termination
of service on the Board. 
 (2) If a distribution (i) is payable upon the occurrence of a specified date, i.e., it
is not payable on account of the termination of the Participant’s service as a member of the Board and (ii) requires a cash distribution of the Participant’s interest in the Common Stock Account, the distribution shall not be made
before the first day of the calendar month that is at least six months after the Participant’s most recent “opposite way” discretionary transaction (as such term is defined in Securities and Exchange Commission Rule 16b-3). If a
distribution (i) is payable on account of the termination of the Participant’s service as a member of the Board, (ii) the Participant is a “specified employee” (as defined in Section 409A of the Code) and (iii) the
Participant’s service as a member of the Board terminated for reasons other than the Participant’s death or because the Participant is “disabled” (as defined Section 409A of the Code), the distribution shall be made as of
the first day of the seventh month beginning after the termination of the Participant’s service as a member of the Board. 
 (3) Except as provided in clause (4) below, after the applicable Election Date a Participant cannot change the distribution date specified on his or her Election Form. 
 (4) A Participant may specify a distribution date for his or her current Account that differs from a prior Election Form with respect to
Compensation earned and payable after the Election Date on or after the new Election Form is completed. In addition, no later than December 31, 2006, a Participant may change the distribution date for his or her Current Account if the new
Election Form does not require a distribution in 2006 nor postpone a distribution that would have been made in 2006 but for the new Election Form. A new distribution date elected under this clause (4) must be a distribution date that satisfies
clause (1) above. 
 (c) If the Distribution Date is the first day of the month following the Participant’s death or a fixed date
which in fact occurs after the Participant’s death or if at the time of death the Participant was receiving distributions in installments, the balance remaining in the Participant’s Account shall be payable to his or her Beneficiaries as
set forth on the Participant’s current Election Form or Forms. Upon the death of a Beneficiary who is receiving distributions in installments, the balance remaining in the Account of the Beneficiary shall be payable to the Beneficiary’s
estate in a lump sum. 
 (d) All distributions shall be paid in cash and, except as provided in Section 3.09(b)(ii), shall be deemed to
have been made from each Subaccount pro rata. Notwithstanding the preceding sentence, with the consent of the Committee a Participant or Beneficiary may elect 

  

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to receive a distribution from the Common Stock Account in whole shares of Common Stock and cash in lieu of a fractional share. Shares of Common Stock may be
distributed only in accordance with the terms of a plan approved by the Company’s shareholders. 
  

	3.08.	Form of Distribution 

 (a) A
Participant’s Grandfather Account shall be distributed in the form specified on one or more Election Forms as in effect on December 31, 2004. If the Grandfather Account is distributed in installments, the amount of each installment shall
be determined by dividing the Grandfather Account balance by the number of remaining installments. If a Participant receives a distribution from a Grandfather Account on an installment basis, amounts remaining in the Grandfather Account shall
continue to accrue earnings and incur losses in accordance with the terms of Section 3.03. 
 (b) A Participant’s Current Account
shall be distributed in the form specified on one or more Election Forms subject to the following: 
 (1) Each Participant
shall designate on his or her Election Form the manner in which the Participant’s Current Account will be paid. A Participant’s Election Form may specify that distributions from his or her Current Account shall be paid (i) in a lump
sum, (ii) no more than one hundred eighty (180) monthly installments, (iii) no more than sixty (60) quarterly installments or (iv) no more than fifteen (15) annual installments. Each installment shall be determined by
dividing the Current Account balance by the number of remaining installments. If a Participant receives a distribution from his or her Current Account on an installment basis, amounts remaining in the Current Account shall continue to accrue
earnings and incur losses in accordance with the terms of Section 3.03. 
 (2) Except as provided in clause
(3) below, after the applicable Election Date a Participant may not change the form of distribution specified on his or her Election Form for his or her Current Account. 
 (3) A Participant may specify a distribution form for his or her Current Account that differs from a prior Election Form with respect to
Compensation earned and payable after the Election Date on or after the new Election Form is completed. In addition, no later than December 31, 2006, a Participant may change the form of distribution for his or her Current Account if the new
Election Form does not relate to an account to be distributed in 2006 or an amount that would have been distributed in 2006 but for the new Election Form. A new distribution form elected under this clause (3) must specify a form of payment that
satisfies clause (1) above. 
  

	3.09.	Extraordinary Distributions 

 (a)
Notwithstanding the foregoing, a Participant may request an extraordinary distribution of all or part of the amount credited to his or her Account on account of an “unforeseeable emergency” (as defined in Section 409A of the Code).

 (b) A request for an extraordinary distribution shall be made by completing and executing an Extraordinary Distribution Request Form and
submitting it to the Secretary of the 

  

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Company. All extraordinary distributions shall be subject to approval by the Committee. The Extraordinary Distribution Request Form shall indicate:
(i) the amount to be distributed from the Account; (ii) the Subaccount(s) from which the distribution is to be made; and (iii) the “unforeseeable emergency” requiring the distribution. The amount of any extraordinary
distribution shall not exceed the lesser of the amount determined by the Committee to be required to meet the immediate financial need of the applicant or the amount credited to the Participant’s Account. 
 (c) An extraordinary distribution shall be made with respect to amounts credited to any of the Subaccounts, if the recipient is not then subject to
Section 16 of the Exchange Act, on the first day of the calendar month next following approval of the extraordinary distribution request by the Committee. An extraordinary distribution requested by a Participant who is then subject to
Section 16 of the Exchange Act shall commence with respect to amounts credited to the Common Stock Account on the first day of the first calendar month that is at least six months following the Participant’s most recent “opposite
way” discretionary transaction (as such term is defined in Securities and Exchange Commission Rule 16b-3) or, if later, the first day of the calendar month next following approval of the extraordinary distribution request by the Committee.

 ARTICLE IV 
 SHAREHOLDER RIGHTS 
 No Participant shall have any rights as a shareholder with respect to his or her participation
in the Plan unless and until the Participant receives a distribution of Common Stock from his or her Common Stock Account. 
 ARTICLE V

 ADJUSTMENT UPON CHANGE IN COMMON STOCK 
 The records of the Company Stock Account shall be adjusted, as the Committee shall determine to be equitably required in the event that (a) the Company (i) effects one or more stock dividends, stock
split-ups, subdivisions or consolidations of shares or (ii) engages in a transaction to which Section 424 of the Code applies or (b) there occurs any other event which, in the judgment of the Committee necessitates such action. Any
determination made under this Article V by the Committee shall be final and conclusive. 
 The issuance by the Company of shares of stock of
any class, or securities convertible into shares of stock of any class, for cash or property, or for labor or services, either upon 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 records of the Company Stock Account. 
 ARTICLE VI 
 COMPLIANCE WITH LAW,
ETC. 
 No Common Stock shall be issued, no certificates for shares of Common Stock shall be delivered, and no payment shall be made
under this Plan except in compliance with all applicable 

  

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federal and state laws and regulations, any listing agreement to which the Company is a party, and the rules of all domestic stock exchanges on which the
Company’s shares may be listed. The Company shall have the right to rely on an opinion of its counsel as to such compliance. No Common Stock shall be issued, no certificate for shares shall be delivered, and no payment shall be made under this
Plan until the Company has obtained such consent or approval as the Committee may deem advisable from regulatory bodies having jurisdiction over such matters. 
 ARTICLE VII 
 GENERAL PROVISIONS 
  

	7.01.	Unfunded Plan 

 The Plan shall be unfunded,
and the Company shall not be required to segregate any assets that may at any time be represented by grants under, or participation in, this Plan. Any liability of the Company to any person with respect to any grant under, or participation in, this
Plan shall be based solely upon any contractual obligations that may be created pursuant to this Plan. No such obligation of the Company shall be deemed to be secured by any pledge of, or other encumbrance on, any property of the Company.

  

	7.02.	Rules of Construction 

 Headings are given to
the articles and sections of this Plan solely as a convenience to facilitate reference. The use of the singular includes the plural and the reference to one gender includes the other. The reference to any statute, regulation, or other provision of
law shall be construed to refer to any amendment to or successor of such provision of law. 
  

	7.03.	Nontransferability 

 A Participant may not
transfer or assign any rights that he or she has under this Plan other than by will or the laws of descent and distribution. No right or interest of any Participant or Beneficiary under the Plan shall be liable for, or subject to, any lien,
obligation or liability of such Participant or Beneficiary. 
 ARTICLE VIII 
 AMENDMENT AND TERMINATION 
 The Board may amend or terminate this Plan
from time to time; provided, however, that no amendment may become effective until shareholder approval is obtained if approval of the Company’s shareholders is required by applicable law or the rules of any stock exchange on which the Common
Stock is listed for trading. No amendment shall, without a Participant’s consent, adversely affect any rights of such Participant under the Plan as in effect at the time such amendment is made. No amendment or termination of the Plan may cause
a distribution of Plan benefits that does not satisfy requirements of Sections 409A of the Code. 
 ARTICLE IX 
 DURATION OF PLAN 
 The Plan
shall remain in effect as to amounts deferred before that date until all Participants’ Accounts have been distributed in full, unless sooner terminated by the Board. 
  

 9Form of Severance Agreement

 Exhibit 10.1 
 SEVERANCE AND NONSOLICITATION AGREEMENT 
 THIS AGREEMENT is made and entered into on this 26th day of March, 2007, by and between WCI
COMMUNITIES, INC. (“WCI”), a Delaware corporation, and Albert F. Moscato, Jr. (the “Employee”). 
 RECITALS:

  

	A.	Employee is the Sr. Vice President of Business Development of WCI, and is an employee of WCI and/or one or more of it subsidiaries. 

  

	B.	Employee is not now a party to any employment agreement with WCI or any of its subsidiaries. 

  

	C.	WCI would like to provide some assurance to Employee that if there is a change in control of WCI and within twelve months after such change in control, Employee’s employment is
terminated, Employee will receive certain severance payments, provided Employee does not solicit any employees of WCI or its subsidiaries. 

 NOW, THEREFORE, IN CONSIDERATION of the recitals and the mutual agreements herein set forth, the parties agree as follows: 
 1. Definitions. The following terms, which are used in this Agreement, are defined as follows: 
 a. “Base Salary” means the amount of Employee’s base salary (without inclusion of any bonus) in effect immediately prior to a Change in Control. 
 b. “Cause” means: (i) any act of willful misconduct or dishonesty by Employee in the performance of his duties;
(ii) any willful and persistent failure by Employee to attend to his/her duties; or (iii) any action by Employee which would constitute a violation of the provisions of this Agreement under the headings “Nonsolicitation” and
“Confidentiality and Nondisclosure” if such actions occurred during the Nonsolicitation Restricted Period; or (iv) Employee’s conviction of (or pleading guilty or nolo contendere to) any felony, or of a criminal offense
resulting in imprisonment, or of any misdemeanor involving theft, embezzlement, dishonesty or moral turpitude. 
 c.
“Change in Control” means the occurrence of any of the following events: 
 (i) any “Person” within
the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended, or any successor thereto (the “Act”) (other than WCI or any company owned, directly or indirectly, by the shareholders of WCI in
substantially the same proportions as their ownership of stock of WCI) becomes the “Beneficial Owner” within the meaning of Rule 13d-3 promulgated under the Act of 35% or more of the combined voting power of the then outstanding
securities of WCI entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); excluding, however, any circumstance in which such beneficial ownership resulted from any acquisition by an
employee benefit plan (or related trust) sponsored or maintained by WCI or by any corporation controlling, controlled by, or under common control with, WCI; or 

 (ii) a change in the composition of the Board since the effective date of this Agreement
(“Effective Date”), such that the individuals who, as of such date, constituted 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 WCI subsequent to the Effective Date whose election, or nomination for election by WCI’s stockholders, was approved by the vote of at least two-thirds 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 WCI as a result of an actual or threatened election contest, as such terms are used in Rule 14a-12 of Regulation 14A
promulgated under the Act, or any other actual or threatened solicitation of proxies or consents by or on behalf of any person or entity other than the Board shall not be deemed a member of the Incumbent Board; or 
 (iii) a reorganization, recapitalization, merger or consolidation (a “Corporate Transaction”) involving WCI, unless
securities representing more than 50% of the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors of WCI or the corporation resulting from such Corporate Transaction (or the parent
of such corporation) are held subsequent to such transaction by the person or persons who were the beneficial holders of the Outstanding Company Voting Securities immediately prior to such Corporate Transaction, in substantially the same proportions
as their ownership immediately prior to such Corporate Transaction; or 
 (iv) the sale, transfer or other disposition of
all or substantially all of the assets of WCI. 
 d. “Company” means WCI and each of its Subsidiaries.

 e. “Good Reason” means, following a Change in Control: (i) any material reduction in Employee’s
salary below the level of Base Salary or (ii) any material adverse change in Employee’s duties, title or responsibilities; provided, however, that Good Reason shall not be deemed to have occurred unless Employee gives WCI thirty
(30) days written notice, and within such thirty (30) day period, the Company does not restore Employee’s Base Salary or restore Employee to the prior position, in which event Good Reason shall be deemed to have occurred at the time
of the giving of such written notice. 
 f. “Nonsolicitation Restricted Period” means a period of twelve
(12) months which begins on the date of Termination and ends twelve (12) months after the date of Termination. 
 g.
“Severance” means cash payments equal to nine (9) months of Base Salary, payable monthly. 
  

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 h. “Subsidiary” means each entity (including, without limitation, every
corporation, partnership, limited partnership, limited liability company, trust and joint venture) in which WCI owns, or has the right to acquire, directly or indirectly, a controlling interest. 
 i. “Termination” means the termination of Employee’s employment with the Company by the Company, other than for
Cause, or the termination of such employment by Employee for Good Reason, in either case at any time within the twelve (12) months following a Change of Control. 
 j. “WCI” means WCI Communities, Inc., and any successor in connection with any restructuring of WCI Communities, Inc.
which does not result in a Change in Control. 
 2. Severance 
 a. Basis for Payment. If, within twelve (12) months following a Change in Control, Employee’s employment is terminated by
Company, other than for Cause, or if within such twelve (12) month period, Employee terminates his/her employment with the Company for Good Reason, Employee will be entitled to receive Severance. 
 b. Payment of Severance. Severance will be paid by WCI in nine (9) equal monthly installments, beginning with the month after
the month in which Termination occurred. Severance shall terminate if, during the Nonsolicitation Restricted Period, Employee violates any of the provisions of this Agreement under the headings “Nonsolicitation” and “Confidentiality
and Nondisclosure”. Termination of WCI’s obligations to pay Severance under this Section 2.b shall not release Employee from his/her obligations under this Agreement. 
 3. Effect of Death or Disability. 
 a. During Employment. All of the obligations of WCI hereunder, including the obligation of WCI to pay Severance, will terminate upon a termination of employment as a result of death or disability. 

b. During Nonsolicitation Restricted Period. In the event of the death or disability of Employee during the Nonsolicitation
Restricted Period, Severance shall terminate as of the date of death, and Employee or his/her personal representative shall be entitled to receive any payments of Severance accrued (on a per diem basis) but unpaid as of the date of death.

 4. Nonsolicitation. During the Nonsolicitation Restricted Period, Employee shall not solicit any person who was an employee of or
consultant to the Company at any time within three (3) months prior to Termination to accept employment with Employee, with Employee’s new employer, or with any other person or entity, or encourage any person to terminate his/her
employment or consultant relationship with the Company, or assist any person or entity, including Employee’s new employer, in identifying employees of or consultants to the Company to solicit for employment or consulting relationships, or in
any way assist any person or entity, 

  

 3 

 
including Employee’s new employer, in solicitation of any employee of or consultant to the Company, nor except with the prior written consent of WCI,
shall Employee hire, or cause or permit any entity controlled directly or indirectly by Employee to hire, any person as an employee or consultant who was, at any time within three (3) months prior to Termination, an employee of the Company.

 5. Confidentiality and Nondisclosure. Employee agrees that he/she shall not use or disclose to third parties any confidential
information of the Company. All files, records, documents, data and similar items relating to the Company, as well as all copies thereof, whether prepared by Employee or otherwise coming into his/her possession, shall remain the exclusive property
of the Company and shall immediately be returned to the Company upon termination of Employee’s employment. Employee’s obligations under this section shall continue while he/she is an employee of the Company, and after termination of the
employment so long as the Company derives value from such confidential information remaining confidential. 
 6. Release. As a
condition to the payment of Severance, Employee will execute a complete release in the form of Exhibit A. 
 7. Restrictions
Reasonable. Employee acknowledges that the restrictions under the sections headed “Nonsolicitation” and “Confidentiality and Nondisclosure” are reasonable and necessary to protect the legitimate interests of WCI and do not
cause Employee undue hardship. 
 8. Equitable Relief. Employee hereby acknowledges and agrees that the Company and its goodwill would
be irreparably injured by, and that damages at law are an insufficient remedy for, a breach or violation of the provisions of this Agreement, and agrees that the Company, in addition to other remedies available to it for such breach, shall be
entitled to a preliminary injunction, temporary restraining order, or other equivalent relief, restraining Employee from any actual breach of the provisions hereof, and that WCI’s rights to such equitable relief shall be cumulative and in
addition to any other rights or remedies to which WCI may be entitled. 
 9. Fiduciary Obligations of Employee; Other Rights of the
Company. The provisions of this Agreement, are not intended to limit the fiduciary and other obligations of the Employee, if any, to the Company under applicable law, and in no event shall this Agreement, be interpreted to release or limit any
of Employee’s obligations to the Company provided by law. 
 10. Notices. Any notice, request, instruction, or other document to
be given hereunder shall be in writing and shall be deemed to have been given: (a) on the day of receipt, if sent by overnight courier; (b) upon receipt, if given in person; (c) five days after being deposited in the mail, certified
or registered mail, postage prepaid, and in any case addressed as follows: 
 If to WCI: 
 Senior Vice President 
 Human Resources
Department 
 24301 Walden Center Dr. 
 Bonita Springs, FL 34134 
  

 4 

 If to the Employee: 
 Alfred F. Moscato, Jr. 
 3828 Parkview Lane 
 Naples, FL 34103 
 or to such other address
or to the attention of such other person as the recipient party has specified by prior written notice to the sending party. 
 11. Choice
of Law; Venue. This Agreement is made and entered into in the State of Florida. All of the terms and provisions of this Agreement are governed by, and shall be interpreted in accordance with, the laws of the State of Florida. Each of the parties
irrevocably consents to exclusive jurisdiction and venue in the Florida state courts located in Naples, Florida, and in the Federal district court which includes Naples, Florida. 
 12. Legal Fees and Expenses. The prevailing party in any litigation to enforce the terms of this Agreement shall be entitled to recover reasonable
costs and expenses, including attorneys’ fees. 
 13. Exclusive Agreement Regarding Severance. The provisions regarding severance
in this Agreement are in lieu of any other severance policy of the Company which might otherwise be applicable to Employee. 
 14. At-Will
Employment. Employee understands and acknowledges that his/her employment with the Company is for an unspecified duration and constitutes “at-will” employment, unless he/she and the Company enter into a written employment agreement
signed by the Chief Executive Officer of WCI. Employee acknowledges that, unless such an employment agreement is entered into, his/her employment relationship with the Company may be terminated at any time, with or without Cause at the option either
of the Company or Employee, with or without notice. 
 15. Successors and Assigns. This Agreement shall be binding upon, and shall
inure to the benefit of, the parties hereto and to their successors, assigns and personal representatives. 
 16. Headings;
References. The headings in this Agreement are inserted for convenience only and shall not be deemed to constitute a part hereof nor to affect the meaning thereof. All section references are to sections of this Agreement, unless otherwise
specified. The terms “hereof” or “herein” or similar terms as used in this Agreement refer to this Agreement as a whole and not to any particular provision or part thereof. 
 17. Compliance with IRC Section 409A. Notwithstanding anything herein to the contrary, (i) if at the time of Employee’s termination
of employment with the Company Employee is a “specified employee” as defined in Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the deferral of the commencement of any payments or benefits
otherwise payable hereunder as a result of such termination of employment is necessary in order to prevent any accelerated or additional tax under Section 409A of the Code, then the Company will defer the commencement of the payment of any such
payments or benefits 

  

 5 

 
hereunder (without any reduction in such payments or benefits ultimately paid or provided to Employee) until the date that is six months following
Employee’s termination of employment with the Company (or the earliest date as is permitted under Section 409A of the Code) and (ii) if any other payments due to Employee hereunder could cause the application of an accelerated or
additional tax under Section 409A of the Code, such payments shall be deferred if deferral will make such payment compliant under Section 409A of the Code, or otherwise such payment shall be restructured, to the extent possible, in a
manner, determined by the Company, that does not cause such an accelerated or additional tax. 
 IN WITNESS WHEREOF, the parties hereto have
executed this Agreement on the date first above written. 
  

									
	EMPLOYEE	 		 	WCI COMMUNITIES, INC.
				
	  	 		 	By:	 	  
	Albert F. Moscato, Jr.	 		 	Its:	 	Sr. Vice President

  

 6 

 Exhibit A 
 GENERAL RELEASE 
 This General Release is given on this
                     day of
                                ,      
      , by Albert F. Moscato, Jr. (“Employee”) to WCI Communities, Inc., a Delaware Corporation (“WCI”) and to each entity (including, without limitation, every corporation, partnership,
limited partnership, limited liability company, trust and joint venture) in which WCI owns, or has the right to acquire, directly or indirectly, a controlling interest (WCI and all of such other entities are collectively and individually referred to
as the “Company”). 
 WITNESSETH: 
 WHEREAS, Employee and WCI are parties to a Severance and Nonsolicitation Agreement, dated as of March 26, 2007 (the Agreement”), under which WCI is obligated to pay severance payments upon the occurrence of
certain events; and 
 WHEREAS, those events have occurred, and as a consequence, Employee is entitled to receive the severance payments; and

 WHEREAS, it is a condition of the payment of severance that Employee release the Company from any obligation or liability to Employee.

 NOW, THEREFORE, IN CONSIDERATION of WCI’s agreement to pay severance to Employee under the provisions of the Agreement: 

1. General Release. 
 a. Employee hereby agrees not to sue or file any action, claim or lawsuit against the Company, pursue, seek to recover or recover any alleged damages, seek to obtain or obtain any other form of relief or remedy with respect to, and to take
any action to cause the dismissal or withdrawal of, any lawsuit, action, claim or charge against the Company. 
 b. Employee
hereby waives all claims and releases and forever discharges, the Company, and each of its officers, directors, stockholders and employees, from any and all claims, demands, actions, causes of action or liabilities for compensatory damages or any
other relief or remedy, and from and against any and all obligations of any kind or nature whatsoever, whether known or unknown, fixed or contingent, liquidated or unliquidated, and whether arising from tort, statute, or contract, including, but not
limited to: 
 (i) any claims arising under or pursuant to Title VII of the Civil Rights Act of 1964, as amended, the Civil
Rights Act of 1991, the Civil Rights Act of 1866, as amended, the Americans With Disabilities Act, the Rehabilitation 

  

 7 

 
Act, the Family and Medical Leave Act, the Occupational Safety & Health Act, the Executive Retirement Income Security Act of 1974, as amended, the
Age Discrimination in Employment Act, Executive Orders 11246 and 11375, the Worker Adjustment and Retraining Notification Act, the Fair Labor Standards Act, any other state, federal, city, county or local statute, rule, regulation, ordinance or
order, any claim for future consideration for employment with the Company; and 
 (ii) any claims for attorneys’ fees and
costs and any employment rights or entitlement law; and 
 (iii) any claims for wrongful discharge, intentional infliction of
emotional distress, defamation, libel or slander, payment of wages, outrageous behavior, breach of contract or any duty allegedly owed to Employee, and any other theory of recovery. 
 It is the intention of the parties to make this release as broad and as general as the law permits. Notwithstanding the foregoing, Employee does not
release WCI from any obligation to Employee under the Agreement, or from any rights Employee may have solely in Employee’s capacity as a holder of securities of WCI. 
 2. Waiver of Right to Future Employment. Employee waives and has no right or entitlement to future employment with the Company. 
 3. Acknowledgements of Employee. 
 a. Employee acknowledges that Employee has been
advised to consult with an attorney, at Employee’s own expense, prior to signing this Release. 
 b. Employee
acknowledges that Employee has fully read this Release, understands the contents of this Release, and agrees to its terms and conditions of Employee’s own free will, knowingly and voluntarily, and without any duress or coercion. 
 c. Employee understands that this is a final general release, and that Employee can make no further claims against the Company
having any connection with the events contained herein. Employee also understands that this Release precludes Employee from recovering any damages or other relief as a result of any lawsuit, grievance, charge or claim that may be brought on
Employee’s behalf and arising out of Employee’s employment with the Company, or Employee’s resignation or separation from employment with the Company. Employee does not release rights that may arise after the termination of
Employee’s employment with the Company. 
  

 8 

 d. Employee acknowledges that Employee is receiving adequate consideration for signing
this Release. 
 e. Employee acknowledges that this Release is attached to the Agreement, that Employee received a copy of the
Agreement, with this form of release attached on March 26, 2007, and that Employee has had more than twenty-one (21) days from the date he/she received this Release to consider whether to accept and sign it. 
 4. Employee will have seven (7) days from the date Employee signs this Release to revoke Employee’s acceptance of this Release. Employee
acknowledges that until such seven (7) days shall have elapsed, no severance shall be payable by under the Agreement, that if Employee fails to sign this Release, the Company shall not have any obligation to pay severance or noncompete payments
to Employee but Employee shall nevertheless remain bound by the terms of the Severance and Nonsolicitation Agreement. 
  

					
	Dated:
                                    ,
            	 		 	EMPLOYEE:
			
	 	 		 	   
		 		 	Albert F. Moscato, Jr.

  

 9

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