STOCK OPTION AGREEMENT
UNDER 2002 / 2004 STOCK INCENTIVE PLAN
Pursuant to the provisions of the Pulte Homes, Inc. 2002 / 2004 Stock Incentive Plan (the “Plan”), the
employee named in the Grant Acceptance (the “Optionee”) has been granted a non-qualified option (the
“Option”) to purchase the number of shares of common stock, $.01 par value, of Pulte Homes, Inc., a Michigan
corporation (the “Company”) (“Common Stock”) set forth in the Grant Acceptance at the price per share set
forth in the Grant Acceptance (the “Exercise Price”), subject to adjustment as provided herein and in the Plan.
Capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the Plan. This
Agreement , together with the Grant Acceptance, constitute the Stock Option Agreement which is made and
entered into as of the grant date set forth in the Grant Acceptance (the “Grant Date”).
1. Option Subject to Acceptance of Agreement . The Option shall be null and void unless the Optionee
shall accept this Agreement in the manner prescribed by the Company.
2. Time and Manner of Exercise of Option .
2.1. Maximum Term of Option . Except to the extent earlier terminated or earlier exercised, this Option
shall expire on, and in no event may any portion of the Option be exercised after, the tenth anniversary of the
Grant Date (the “Expiration Date”).
2.2. Exercise of Option . (a) Except as otherwise provided in this Section 2.2, the Option shall vest and
become exercisable as set forth in the Grant Acceptance.
(b) If the Optionee’s employment with the Company terminates by reason of death or Permanent
Disability, the Option shall become fully vested and exercisable with respect to all of the shares of Common
Stock subject to the Option on the date of the Optionee’s death or the effective date of his or her termination of
employment, as applicable, and may thereafter be exercised by the Optionee or the Optionee’s Legal