SEC Contract Filing

Filing Date: 2016-02-22

Document Content:
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<TYPE>EX-10.25
<SEQUENCE>8
<FILENAME>d103561dex1025.htm
<DESCRIPTION>WCI COMMUNITIES, INC. 2016 DIRECTOR COMPENSATION PROGRAM FOR NON-EMPLOYEE DIRECT
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<TITLE>WCI Communities, Inc. 2016 Director Compensation Program for Non-Employee Direct</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.25 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>WCI Communities, Inc.: </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>2016 Director Compensation Program for Non-Employee Directors </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each non-employee member (a &#147;Non-Employee Director&#148;) of the Board of Directors of WCI Communities, Inc. (the &#147;Board&#148;) is eligible to
receive the following compensation in respect of service in 2016: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Annual Board Retainer</U></B>: Each Non-Employee Director shall be paid an annual
retainer of $60,000, payable quarterly in equal $15,000 installments not later than the tenth (10th)&nbsp;business day of each fiscal quarter in which the quarterly retainer is to be earned (or for the first fiscal quarter in 2016, the tenth
(10th)&nbsp;business day after approval by the Board) the &#147;Quarterly Payment Date&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Annual Chair Retainer</U></B>: The Chair of the
Board shall be paid an additional retainer of $40,000, payable quarterly in equal $10,000 installments not later than the Quarterly Payment Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Annual Committee Chair Retainers</U></B>: The Chairs of each of the Audit Committee, Compensation Committee and Nominating and Corporate Governance
Committee shall each be paid an additional retainer in the amount set forth below, payable quarterly in equal installments not later than the Quarterly Payment Date. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Audit Committee Chair Retainer:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">20,000/year</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Compensation Committee Chair Retainer:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">15,000/year</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Nominating and Corporate Governance Committee Chair Retainer:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">10,000/year</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Retainer Proration</U></B>: In the case of any newly elected or appointed Non-Employee Director or any newly appointed
Chair of the Board or a committee thereof, the applicable retainer(s) described above shall be prorated and payable on the Quarterly Payment Date immediately subsequent to the fiscal quarter in which such person commenced service in the applicable
position(s). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Equity Awards</U></B>: Subject to the terms and provisions of the 2013 Incentive Award Plan and any applicable award agreement,
(i)&nbsp;each Non-Employee Director who is affiliated with or has any employment or service relationship with any Significant Stockholder (as defined below) or affiliate thereof (an &#147;Affiliate Director&#148;) serving on the Board as of the date
the Board approves equity-based awards for Non-Employee Directors in respect of 2016 service (the &#147;Grant Date&#148;) (which is expected to occur at a Board meeting during the first quarter of 2016) shall be entitled on the Grant Date to a grant
of cash-settled restricted stock units with an aggregate fair market value (based on the closing share price on the Grant Date) equal to $90,000 and (ii)&nbsp;each Non-Employee Director who is not an Affiliate Director serving on the Board as of the
Grant Date shall be entitled on the Grant Date to a grant of shares of restricted stock with an aggregate fair market value (based on the closing share price on the Grant Date) equal to $90,000. &#147;Significant Stockholder&#148; shall mean any
&#147;person&#148; or &#147;group&#148; of &#147;persons&#148; (as such terms are used in Sections 13(d) and 14(d)(2) of the Exchange Act) that holds 7% or more of the total combined voting power of all classes of common stock of WCI Communities,
Inc. or is otherwise designated by the Board as a Significant Stockholder. </P>

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