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Exhibit 10.23

 
FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
 
This FIRST AMENDMENT TO EMPLOYMENT AGREEMENT (this “Amendment”) is dated as of
November 11, 2011, by and between Ply Gem Industries, Inc., a Delaware
corporation (the “Corporation”) and Gary E. Robinette (“Robinette” and, together
with the Corporation, the “Parties”).  Capitalized terms used but not defined
herein shall have the meanings ascribed to such terms in the Employment
Agreement.
 
W I T N E S S E T H:
 
WHEREAS, the Parties are party to the Employment Agreement, dated as of August
14, 2006 (the “Employment Agreement”); and
 
WHEREAS, the Parties desire, pursuant to Section 14 (Entire Agreement/Amendment)
of the Employment Agreement, to amend the Employment Agreement, as hereinafter
set forth.
 
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the Employment Agreement is hereby amended as
follows:
 
1.  Amendment to Section 2(a).  Section 2(a) of the Employment Agreement is
hereby amended to provide that, the renewal term in effect as of the date of
this Amendment shall be extended until the third anniversary of the date of this
Amendment; provided, however, that, commencing with such third anniversary date
and on each anniversary of such date thereafter (each, a “Renewed Term Extension
Date”), this Agreement will automatically renew for an additional one (1) year
term, unless the Companies or Robinette provides the other party hereto 60 days’
prior written notice before the Renewed Term Extension Date that the Term shall
not be extended.  The Term will no longer be extended or expire by reference to
the Extension Date.  The renewal of the Term as provided herein and following
any Renewed Term Extension Date shall be referred to herein as the Term.
 
2.  Amendment to Section 6(ii).  Section 6(ii) of the Employment Agreement is
hereby amended and restated in its entirety as follows:
 
“For purposes of this Section 6, a “Competitive Business” means as of any date,
including during the Restricted Period, any person or entity (including any
joint venture, partnership, firm, corporation or limited liability company) that
engages in or proposes to engage in the following activities in North America:
(x) the manufacture, sale or distribution of any building products, and (y) any
new product lines and businesses entered into by the Companies during the Term.”
 
3.  Amendment to Section 6(iii).  Section 6(iii) of the Employment Agreement is
hereby amended and restated in its entirety as follows:
 
“Notwithstanding anything to the contrary in this Agreement, Employee may,
directly or indirectly, own, solely as an investment, securities of any person
engaged in a Competitive Business, if (A) those securities are which are
publicly traded on a national or regional stock exchange or on the
over-the-counter market if Employee (x) is not a controlling person of, or a
member of a group which controls, such person and (y) does not, directly or
indirectly, own one percent (1%) or more of any class of securities of such
person or (B) the Competitive Business is engaged solely in the distribution of
building products in Cuba.”
 
4.  Effect of this Agreement.  Except as specifically provided by this
Amendment, the Employment Agreement shall remain in full force and effect.
 
5.  Governing Law.  THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE APPLICABLE TO AGREEMENTS MADE
AND TO BE WHOLLY PERFORMED WITHIN THAT STATE, WITHOUT REGARD TO ITS CONFLICT OF
LAWS PROVISIONS OR THE CONFLICT OF LAWS PROVISIONS OF ANY OTHER JURISDICTION
WHICH WOULD CAUSE THE APPLICATION OF ANY LAW OTHER THAN THAT OF THE STATE OF
DELAWARE.
 
6.  Counterparts.  This Amendment may be executed in any number of counterparts,
each of which will be deemed an original and all of which taken together will
constitute but one and the same instrument.
 
 
 
 
 
 

 
 

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IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Amendment as of the date first above written.
 

 

 
GARY E. ROBINETTE
         
­­­­­­­­­­­­­­­­/s/ Gary E. Robinette                 
         
PLY GEM INDUSTRIES, INC.
         
By:     /s/ Shawn. K. Poe               
 
Name:  Shawn K. Poe
 
Title:  Vice President and Chief Financial Officer

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2
 

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