M/I HOMES, INC. STOCK UNITS AWARD AGREEMENT
Exhibit
10.1
M/I
HOMES, INC.
2006
DIRECTOR EQUITY INCENTIVE PLAN
M/I
Homes, Inc. (the “Company”), pursuant to the M/I Homes, Inc. 2006 Director
Equity Incentive Plan (the “Plan”) and this Award Agreement (the “Agreement”),
hereby irrevocably awards (the “Award”) to the undersigned Participant the
following stock units (the “Stock Units”) representing the right to receive
payment of common shares, $.01 par value, of the Company (the “Stock”):
1. Name
of
Participant: ____________________________________________
2. Grant
Date: ____________________________________________
3. Total
Number of Stock Units Granted: ____________________________________
4. Settlement
of Stock Units:
A.
Time
of Settlement: The
total
number of Stock Units granted under this
Agreement
(plus additional Stock Units, if any, that accrue under Section 9.03 of the
Plan
due to dividends and other distributions paid after the Grant Date with respect
to the Stock) will be settled on the date of the Participant’s separation from
service (as defined in Section 409A of the Internal Revenue Code of 1986, as
amended) from the Company.
B.
Form
of Settlement: All
Stock
Units to be settled under this Agreement
(as
described in Section 4.A. above) will be settled in shares of Stock.
C.
Payment: Within
sixty (60) days following the date on which the Stock Units are settled (as
described in Section 4.A. above), the Participant will receive a lump sum
payment of shares of Stock equal to the whole number of Stock Units settled,
plus a cash payment for any fractional Stock Unit, determined based upon the
Fair Market Value of a share of Stock on the settlement date.
5. Effect
of
Plan: The
Award
of Stock Units is subject in all cases to the terms and conditions set forth
in
the Plan, which are incorporated into and made a part of this Agreement. All
capitalized terms that are used in this Agreement but are not defined in this
Agreement shall have the meanings ascribed to such terms in the Plan.
6. Acknowledgment: By
signing below, the Participant acknowledges and agrees that the Award is subject
to all of the terms and conditions of the Plan.
PARTICIPANT
Date:__________________________
By:________________________________
M/I
HOMES, INC.
Date:__________________________
By:_______________________________
Title:_____________________________
