Form of Performance Share Unit Award Agreement under the M/I Homes, Inc. 2018 Long-Term Incentive Plan

Except as otherwise provided in this Award Agreement, the PSU’s will vest only if and to the extent that (A) the Participant is employed with the Company or any Affiliate on the last day of the Performance Period and (B) the Committee determines that the Performance Goals set forth on Exhibit A to this Award Agreement (the “Performance Goals”) have been satisfied; provided that such determination shall be made no later than the first March 15^th following the end of the Performance Period. The PSU’s will vest, based upon the level of satisfaction of the Performance Goals (threshold, target or maximum), at the percentage level of the PSU’s granted under Section 4 of this Award Agreement in accordance with the following table:

Except as other provided herein, at the end of the Performance Period, the Participant (or, in the event of the Participant’s death, the Participant’s beneficiary) will receive one (1) Share for each PSU that vests in accordance

If the Participant’s employment with the Company terminates by reason of death or Disability before the end of the Performance Period, then the number of PSU’s that would have vested had the Participant remained employed until the end of the Performance Period (based on actual performance as of the end of the Performance Period) shall become vested at the end of the Performance Period. Such PSU’s will be settled at the time and in the manner described in Section 6 above. In the event that a Change in Control should occur after the date of the termination of the Participant’s employment by reason of death or Disability, the PSU’s will be settled at the time and in the manner described in Section 10 below.

If the Participant’s employment with the Company terminates by reason of Retirement or involuntary termination by the Company without Cause before the end of the Performance Period, then a prorated portion of the number of PSU’s that would have vested had the Participant remained employed until the end of the Performance Period (based on actual performance as of the end of the Performance Period) shall become vested at the end of the Performance Period. Such prorated portion will equal such number of PSU’s that otherwise would have vested (based on actual performance as of the end of the Performance Period), multiplied by a fraction equal to the number of full months of the Performance Period completed as of the date of the Participant’s termination of employment, divided by the number of months in the Performance Period. Such prorated PSU’s will be settled at the time and in the manner described in Section 6 above. In the event that a Change in Control should occur after the date of the termination of the employment of the Participant by reason of Retirement or involuntary termination by the Company without Cause, the PSU’s will be settled at the time and in the manner described in Section 10 below; provided, however, that the Participant will receive a prorated portion of the PSU’s that the Participant would have received under Section 10 based on the number of full months of the Performance Period completed as of the date of the Participant’s termination of employment and the number of full months of the Performance Period completed as of the date of the Change in Control.

If the Company terminates the Participant’s employment with the Company or any Affiliate for Cause before the end of the Performance Period or the date of settlement under Section 6, then all PSU’s granted under this Award

In the event of a Change in Control, Article XII of the Plan will apply with respect to the outstanding PSU’s; provided, however, that if the Committee elects to (A) cancel the outstanding PSU’s, then the Participant will become immediately vested in the number of PSU’s granted under Section 4 of this Award Agreement, such vested PSU’s will be settled in cash and such cash payment will be equal to the vested number of PSU’s, multiplied by the value of the consideration to be paid in the Change in Control for each Share (or, if no consideration is paid in the Change in Control, the Fair Market Value of a Share as of the date of the Change in Control) and (B) cause a substitute award to be issued with respect to the outstanding PSU’s in connection with the Change in Control, the substitute award shall substantially preserve the value, rights and benefits of the PSU’s being substituted. Any cash payment made under this Section 10 will be made within forty-five (45) days after the date of the Change in Control.

The Company’s obligation to deliver Shares upon the settlement of a vested PSU is subject to the satisfaction of the following conditions: (A) the Participant is not, at the time of settlement, in material breach of any of his or her obligations under this Award Agreement, or under any other agreement with the Company or any Affiliate; (B) no preliminary or permanent injunction or other order against the delivery of the Shares issued by a federal or state court of competent jurisdiction in the United States shall be in effect; (C) there shall not be in effect any federal or state law, rule or regulation which prevents or delays delivery of the Shares or payment, as appropriate; and (D) the Participant shall confirm any factual matters reasonably requested by the Committee, the Company or counsel for the Company.

In consideration for the grant of the PSU’s, the Participant hereby covenants and agrees as follows:

The Participant shall not at any time, directly or indirectly, disclose to any other person, corporation, partnership, proprietorship or other business enterprise, or otherwise use any “Data of a Confidential Nature” except in the performance of the Participant’s duties as an employee of the Company or any of its Affiliates with respect to the business of the Company and its Affiliates. The Participant agrees that all Company and Affiliate materials evidencing, reflecting or containing “Data of a Confidential Nature” are and shall remain the sole and exclusive property of the Company and its Affiliates and all such materials, including, but not limited to, records, drawings, blueprints, manuals, brochures, pamphlets and all other materials will be returned to the Company. As used herein “Data of a Confidential Nature” includes, but is not limited to, cost, price and customer data, any information on land acquisition programs, information on the Company’s or any Affiliate’s plans to acquire new properties or business, information on the Company’s or any Affiliate’s compensation programs, information regarding relocations of existing

The Participant shall not, at any time, directly or indirectly, or in concert with any other person, corporation, partnership, proprietorship or other business enterprise: (i) induce or attempt to induce any employee or agent of the Company or any of its Affiliates to leave the employ of the Company or any of its Affiliates; or (ii) employ (or engage to act, directly or indirectly, as an independent contractor or agent) any employee or agent of the Company or any of its Affiliates within six months following termination of such employee’s employment or of such agent’s agency with the Company or any of its Affiliates.

In the event that any covenant set forth in subsection B. shall be determined by a court of competent jurisdiction to be unenforceable because it extends over too great a period of time, or for any other reason, such covenant shall be interpreted to extend only over the maximum period of other restrictions to which they may be enforceable.

The covenants set forth in subsections A. and B. shall remain in effect regardless of whether the Participant becomes vested in the PSU’s in whole or in part.

The Participant shall have none of the rights of a shareholder with respect to the Shares underlying the PSU’s, including without limitation voting or dividend rights, until the Participant becomes the recordholder of the Shares underlying the PSU’s.

The PSU’s are subject in all cases to the terms and conditions set forth in the Plan, which are incorporated into and made a part of this Award Agreement. In the event of a conflict between the terms of the Plan and the terms of this Award Agreement, the terms of the Plan will govern. All capitalized terms that are used in this Award Agreement but are not defined in this Award Agreement shall have the meanings ascribed to such terms in the Plan.

By signing below, the Participant acknowledges and agrees that the PSU’s are subject to all of the terms and conditions of the Plan and this Award Agreement.

This Award Agreement may be signed in counterparts, each of which will be deemed an original, but all of which will constitute one and the same instrument.

Adjusted Pre-Tax Income Performance Goal. The following Adjusted Pre-Tax Income (as defined below) Performance Goal shall apply to the PSU’s granted to the Participant pursuant to this Award Agreement (the “Adjusted Pre-Tax Income Performance Goal”):

Relative TSR Performance Goal. The following Relative TSR (as defined below) Performance Goal shall apply to the PSU’s granted to the Participant pursuant to this Award Agreement (the “Relative TSR Performance Goal”):

Weighting of Performance Goals. The number of PSU’s that vest at the end of the Performance Period will vary depending on the degree to which the combination of the Adjusted Pre-Tax Income Performance Goal, weighted at [•]%, and the Relative TSR Performance Goal, weighted at [•]%, are satisfied.