Document:

exv10w4a

 

Exhibit 10.4a

LTIP Stock Units

	 	 	 	 	 	 	 	 	 
	 
	 	FY 2007 Stock Unit Award	 	 	 	 

Dear [Full Name]:

     You have been granted an Award as of May 10, 2007 of [amount] units of Deferred Stock under
the Centex Corporation Long Term Incentive Plan (as such plan may be amended from time to time, the
“Plan”), giving you the right to receive a Payout of an equivalent number of Shares of the common
stock of Centex Corporation (the “Company”) on May 10, 2014, provided you are still employed by the
Company or an Affiliate. This Award will vest at the rate of 331/3% per year on each of March 31,
2008, March 31, 2009 and March 31, 2010.1 

     As described in the Plan, under certain circumstances an early Payout may occur. For example,
if you so elect in the form and manner prescribed by the Administrator, Payout will occur when each
portion of the Award vests, subject to your subsequent revocation of the timing of Payout and
substitution of a new Payout election during any subsequent calendar year. Conversely, if for any
other reason you cease to be employed by the Company or any of its Affiliates, in most cases you
will forfeit any portion of this Award that has not vested as of your Termination Date and, unless
discharged for cause, you will receive a Payout of the then vested portion of this Award, as
provided in the Plan.

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

     This Award is subject to the Plan, and the Plan will govern where there is any inconsistency
between the Plan and this Award. The provisions of the Plan are also the provisions of this Award,
and all terms, provisions and definitions set forth in the Plan are incorporated into this Award
and made a part of this Award for all purposes. Capitalized terms used and not otherwise defined
in the Plan have the meanings ascribed to such terms in the Plan. A copy of the Plan is available
to you upon request to the Law Department during the term of this Award. This Award is subject to
the Company’s Policy on Recoupment in Restatement Situations, and you agree that you will comply
with the terms of that Policy.

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

	 	 	 	 	 	 	 
	ACCEPTED
	 	 	 	CENTEX CORPORATION	 	 
	as of _________________, 2007
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	[Full Name]
	 	 	 	[Name]	 	 
	 
	 	 	 	[Title]	 	 

 

			
	1	 	The vesting schedule for “discretionary retention
awards” is as follows: This Award will vest at the rate of 331/3% per
year on each of March 31, 2009, March 31, 2010 and March 31, 2011.exv10w6a

 

Exhibit 10.6a

Employee and Executive Stock Options

2003 Plan

	 	 	 	 	 	 	 	 	 
	 
	 	FY 2007 Stock Option Award	 	 	 	 

Dear [Full Name]:

     Effective May 10, 2007 you have been granted a Non-qualified Option to purchase up to [amount]
shares of the common stock, par value $.25 per share, of Centex Corporation (the “Company”) for
$[price] per share (the “Option”). This Option is granted under the Centex Corporation Amended
and Restated 2003 Equity Incentive Plan (as such plan may be amended from time to time, the
“Plan”). A copy of the Plan is available to you upon request to the Law Department during the term
of this Option. This Option will terminate upon the close of business on May 10, 2014, unless
earlier terminated as described herein or in the Plan.

     This Award will vest at the rate of 33 1/3% per year on each of March 31, 2008, March 31,
2009, and March 31, 2010.1

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

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

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

	 	 	 	 	 	 	 
	ACCEPTED
	 	 	 	CENTEX CORPORATION	 	 
	as of _________________, 2007
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	[Name]
	 	 	 	[Name]	 	 
	 
	 	 	 	[Title]	 	 

 

			
	1	 	The vesting schedule for “discretionary
retention awards” is as follows: This Award will vest at the rate of 20%
per year on each of March 31, 2008, 2009, 2010, 2011 and 2012.exv10w9a

 

Exhibit 10.9a

CENTEX CORPORATION

EXECUTIVE DEFERRED COMPENSATION PLAN

DEFERRED COMPENSATION AGREEMENT

May 10, 2007 Award

          This Deferred Compensation Agreement (“Agreement”) is entered into as of May 10, 2007, by
and between _________ (the “Participant”) and Centex Corporation (the
“Company”).

          WHEREAS, the Company has established the Centex Corporation Executive Deferred Compensation
Plan (which, as amended from time to time, is referred to in this Agreement as the “Plan”), the
purpose of which is to permit Eligible Employees the option to defer receipt of cash compensation;
and

          WHEREAS, the Plan’s Committee has determined that the Participant should receive an award of
non-qualified deferred cash compensation as more fully described herein (“Deferred Cash
Compensation”), subject to the terms and conditions of this Agreement.

          NOW, THEREFORE, in consideration of the mutual promises and covenants herein contained, the
Participant and the Company agree as follows:

SECTION 1. The Plan.

          The Plan is incorporated by reference and made a part of this Agreement for all purposes.
This Agreement and the Plan shall govern the rights of the Participant and the Company with respect
to the award of Deferred Cash Compensation described below. In the event of any conflict between
this Agreement and the Plan, this Agreement will control. All capitalized terms used herein,
unless otherwise defined, have the meaning ascribed to such terms in the Plan.

SECTION 2. Amount of Award.

          The Participant is hereby awarded Deferred Cash Compensation from the Company in the amount of
$_________ in accordance with the terms of this Agreement and the Plan. The Deferred Cash
Compensation shall vest as provided in this Agreement.

SECTION 3. Terms of Award.

     3.1. Account. The Committee shall cause an Account to be kept in the name of the Participant
(or, in the event of the Participant’s death, his or her Beneficiary) which shall reflect the
amount awarded pursuant to Section 2 on the effective date of this Agreement and the value of any
portion of the Deferred Cash Compensation that has vested pursuant to Section 3.4 that is payable
to the Participant or Beneficiary under the Plan. The obligation to pay to the Participant the
Deferred Cash Compensation, with the interest provided for in this Agreement, shall be carried on
the books of the Company as an unsecured debt in an Account.

1

 

          The Participant acknowledges and agrees that nothing in this Agreement shall be deemed to
create a trust of any nature or kind or create any fiduciary relationship. Neither the
Participant, his or her estate or personal representative(s), nor his or her Beneficiary shall have
any right, title or interest in or to any funds in the Account, which is established by the Company
merely for the purpose of recording such unsecured contractual obligation. Until and except to the
extent that Deferred Cash Compensation hereunder is vested or paid to the Participant or his or her
Beneficiary, the interest of the Participant or the Beneficiary is contingent only and is subject
to forfeiture as provided in Section 3.4 below. All funds in the Account, if any, shall continue
to be part of the general funds of the Company, and title to and beneficial ownership of any
assets, whether cash or investments, which the Company may, in its sole discretion, set aside or
earmark to meet its obligations hereunder shall at all times remain in the Company until paid to
the Participant. Neither the Participant nor any Beneficiary shall under any circumstances acquire
any property interest in any specific assets of the Company.

     3.2. Beneficiary. The Participant may designate a Beneficiary in accordance with the Plan.

     3.3. Interest. The Deferred Cash Compensation shall be credited with interest, compounded
monthly, as of May 31, 2007 and each month thereafter until the Deferred Cash Compensation, as well
as any interest earned and credited to the Account, shall have been distributed in accordance with
the Plan and this Agreement. Appropriate pro-ration shall be made for part year interest credits.
The rate of interest credited from time to time pursuant to this paragraph shall be the Weighted
Average Cost of Funds in effect as of the date of such credit.

     3.4. Vesting. The Participant’s contingent right to receive the Deferred Cash Compensation
(and any interest accrued thereto) shall vest on the dates and in the percentages described below.
Other than as provided in the Plan, the Participant must be an Employee of the Company in good
standing as of the applicable vesting date. The foregoing to the contrary notwithstanding, the
Participant shall be fully vested in all amounts in his or her Account, regardless of the vesting
schedule below or his or her standing with the Company, as of the date of his or her termination of
employment due to his or her death or Disability (or as he or she may otherwise be entitled under
the Plan).

     The Deferred Cash Compensation shall vest in installments such that it is fully vested as of
March 31, 2010, as follows:

2

 

	 	 	 	 	 
	 	 	Vesting Percentage of
	Vesting Dates	 	Deferred Cash Compensation
	March 31, 2008
	 	 	33.33	%
	March 31, 2009
	 	 	33.33	%
	March 31, 2010
	 	 	33.34	%
	 
	 	 	 	 
	 
	 	 	100.00	%

     3.5. Timing and Form of Distribution. If the Participant timely elected and returned to the
Company a properly completed election form, as prescribed by the Committee (an “Election Form”),
the Participant’s vested Deferred Cash Compensation shall be distributed pursuant to the Election
Form, subject to such terms and conditions set forth in such form. If the Participant failed to
timely elect and return or properly complete an Election Form, the Participant’s Deferred Cash
Compensation (and any interest credited thereto) will be distributed in a lump sum in cash, to the
extent vested, on or as soon as administratively practicable after the first to occur of (i) the
date of the Participant’s termination of employment for any reason or (ii) March 31, 2010 (the
first date when the Deferred Cash Compensation is fully vested). The foregoing notwithstanding, if
the Participant is a “key employee” for purposes of Section 409A of the Internal Revenue Code
(“Section 409A”), payment of his or her Deferred Cash Compensation (and any interest credited
thereto) due to termination of employment for any reason (other than death) will be delayed until
at least six months after such Participant’s termination date if required by Section 409A.

          The Participant agrees that the Deferred Cash Compensation will be paid out only to the extent
that it has vested in accordance with this Agreement and the Plan. Any unvested portion of the
Deferred Cash Compensation shall be forfeited and terminate automatically upon termination of
employment of the Participant for any reason (other than death or Disability as described in
Section 3.4 above), unless otherwise provided in the Plan.

     3.6. Tax Withholding. The Participant agrees that the Company may take whatever steps the
Company, in its sole discretion, deems appropriate or necessary to satisfy the Company’s state and
federal income tax, social security, Medicare, and other tax withholding obligations arising out of
the award.

SECTION 4. General Provisions.

     4.1. This Agreement and the Plan express the entire agreement of the parties as to the Deferred
Cash Compensation Award described herein, and all promises, representations, understandings,
arrangements and prior agreements are merged herein and superseded hereby. The foregoing
notwithstanding, this Agreement shall be interpreted, and such Deferred Cash Compensation shall in
all events be deferred and paid, in a manner consistent with Section 409A. The Company reserves
the right, exercisable in its sole discretion, to amend the Plan, this Agreement and the

3

 

Participant’s Election Form (without Participant’s consent) in order to accomplish such
result. This Agreement is subject to the Company’s Policy on Recoupment in Restatement Situations,
and the Participant agrees that the Participant will comply with the terms of that Policy.

     4.2. If any of the provisions of this Agreement should be held to be invalid, the remainder
of this Agreement shall not be affected thereby.

     4.3. This Agreement and the Plan shall be governed by and construed in accordance with ERISA,
and to the extent not preempted thereby, the laws of the State of Texas.

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

PARTICIPANT

	 	 	 	 	 
	 	 	 
	 	 	 	 
	 	 	 	 
	CENTEX CORPORATION 	 	 	 
	 

	 	 	 	 	 
	 	 	 
	By:  	 	 	 	 
	 	[Name] 	 	 
	 	[Title] 	 	 
	 

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