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Exhibit 10.6
FY
2008 Stock Option Award
Dear
[Full Name] :
Effective May 7 2008 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 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 7, 2015, unless earlier terminated as
described herein or in the Plan.
This Award will vest at the rate of
33⅓% per year on each of March 31, 2009, March 31,
2010, and March 31, 2011.
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)&n
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