SEC Contract Filing

Filing Date: 2016-11-01

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d255821dex101.htm
<DESCRIPTION>AMENDED AND RESTATED 2013 LONG TERM INCENTIVE PLAN
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<TITLE>Amended and Restated 2013 Long Term Incentive Plan</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 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>First Amendment to the WCI Communities, Inc. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Amended and Restated 2013 Long Term Incentive Plan </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">This First Amendment to the WCI Communities, Inc. Amended and Restated 2013 Long Term Incentive Plan (this &#147;<U>Amendment</U>&#148;) is
adopted as of September&nbsp;22, 2016 (the &#147;<U>Amendment Date</U>&#148;) by WCI Communities, Inc. (the &#147;<U>Company</U>&#148;) for the purpose of amending the WCI Communities, Inc. Amended and Restated 2013 Long Term Incentive Plan (as it
may be amended from time to time, the &#147;<U>Plan</U>&#148;). Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Company currently maintains the Plan; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Company desires to amend the Plan pursuant to Article 9 of the Plan; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, this Amendment, together with the Plan (as of immediately prior to the Amendment Date), constitutes the entire Plan as amended
through the Amendment Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>NOW</B>, <B>THEREFORE</B>, effective as of the Amendment Date, the Plan is hereby amended as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. Section&nbsp;8.3 of the Plan is hereby removed and replaced in its entirety with the following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">8.3 <U><B>Form of Payment</B></U>. Payment of LTIP Awards may be made in shares of Common Stock; provided, however, in the event the Payment
Event is due to a Change in Control of WCI, (a)&nbsp;pursuant to that certain Agreement and Plan of Merger between WCI and Lennar Corporation dated as of September&nbsp;22, 2016 (the &#147;<U>Lennar MA</U>&#148;), payment shall be made as set forth
under the terms of the Lennar MA applicable to the treatment of LTIP Awards, or (b)&nbsp;other than pursuant to the Lennar MA, payment shall be made in cash based on the value of shares of Common Stock for purposes of calculation of consideration in
such Change in Control (as determined by the Committee in its discretion). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. Except as set forth herein, the Plan shall remain in full
force and effect in accordance with its terms. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. This Amendment shall be construed and enforced in accordance with and governed by the
laws of the State of Florida. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">* * * * * </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Executed and effective as of the Amendment Date. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3"><B>WCI COMMUNITIES, INC.</B></TD></TR>
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<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Keith Bass</P></TD></TR>
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<TD VALIGN="top">By:</TD>
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<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">Keith Bass</TD></TR>
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<TD VALIGN="top">Its:</TD>
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<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">President and Chief Executive Officer</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Signature Page to First Amendment to the WCI Communities, Inc. </I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Amended and Restated 2013 Long Term Incentive Plan </I></P>
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