targetdir=$(disk)
moddir=../..

modname=TestModule
modtarget=0x800000
modtype=kernal

slang-extra=-dblevel 0

include ../../makemod.$(OSTYPE)

all: $(targetdir)/$(module).kmd

clean: modclean
	@ $(clean_backup)
	@ -$(rm) test.kmd
include ../../../makefile.$(OSTYPE)

 these commands force make to get the default definitions for this platform (where is gcc, ld, slang, etc.) The file referenced is src/makefile.$(ostype) where ostype is the tag defining your platform (usually DOS :)
Remember to correct those dots so that they match your path.
 
modsources=test.c
 Tells the module makefile what are your sourcefiles. here, the only file was test.c ... only files that are processed by gcc should be put here. If you have some other files (c++, assembly, whatever ..), you'll have to compile them by yourself and put their object-file names into the $(modothers) make variable
 
module=test

 Tell the module devkit what should be the name for the generated module. this means our module will be test.kmd, and that intermediate files test.mo (coff version) and test.map (linking resume) will be available
 
targetdir=$(disk)
 tells make where it should put the generated module. We usually want it to be placed in disk/* directory, which is held by $(disk) 
moddir=../..
 give make the relative path to the src/mods/ directory where it could have to pick some helper files.
 
modname=TestModule
modtarget=0x800000
modtype=kernal

 arguments for the module maker. They are quite straightforward except that modtarget is a wish from the module: it might be (and with kds 1.x, it will be) relocated somewhere else. Only two mod types are available for now: kernal and system.
 
slang-extra=-dblevel 0

 these are extra flags you can give to slang : the server-language compiler. They mainly allow you to control the debug output through -dblevel, -dbmask, -dbfile and -dbnokey options.
Use slang --help for more infos
 
include ../../makemod.$(OSTYPE)

 now this is the real thing. You'll be including the module development kit right now, which will extends make and learn it how to produce $(module).kmd out of $(modsources) and $(modothers). remember to patch the path so that it matches your location (the file is located under src/mods/)
 

all: $(targetdir)/$(module).kmd

clean: modclean
	@ $(clean_backup)
	@ -$(rm) test.kmd

 And here comes the 'normal' part of your module, put everything you now about makefiles right here: these rules are yours!

Here, we simply ask to produce the module and to put it in disk/
remember to provide a clean: target. modclean and clean_backup can help you doing it. Remember that your command have to work both on Linux and Dos. usual $(RM) *~ on dos usually deletes the makefile too, so you have the platform-dependent $(clean_backup) command to help you :)