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Exhibit 10.13

Summary of Butler Manufacturing Long Term Incentive Plan

The Long Term Incentive Plan (LTIP or Plan) is an additional component in
our executive compensation package. It is designed to reward efforts for good
financial results while enhancing the ability to earn long-term rewards. The
objective of this Plan is to improve overall results, to balance short-term and
long-term goals, tie pay to performance, pay competitively, and focus the senior
management team on creating shareholder value.

The LTIP is a long-term incentive plan. It is designed to reward with both stock
ownership and cash to executives whose leadership create value and generate
returns for shareholders. The Plan contemplates:



| |  |  | Annual stock option grants;                                  
| | - |  | -------------------------------------------------------------
|
| |  |  | A performance measurement based on total business return; and
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| |  |  | Three year performance period.                               

Corporate Officers and Division Presidents are eligible to participate in the
Plan. Participants who become eligible during a performance cycle will receive a
prorated share of the awards.

PLAN COMPONENTS

The LTIP has two components, annual stock option grants and a Long Term Cash
Performance Plan (LTCPP).

Annual Stock Option Grants

Subject to stockholder approval of our 2002 Stock Incentive Plan at our annual
meeting being held in April 2002, the Plan contemplates annual grants of stock
options in order to promote stock ownership by executives. All stock option
grants are subject to Board discretion and approval. Stock options will have a
10-year term.

Long Term Cash Performance Plan (LTCPP)

The goal of the LTCPP is to reward executives for value creation with Butler. We
chose total business return on company wide results to be our method of
measuring value creation. Total business return is a function of three
variables: investment, NOPAT (net operating profit after tax), and the cost of
capital. We calculate total business return by (i) dividing changes in net
operating profit after taxes by the weighted average cost of capital (ii) adding
free cash flow for the three year period and (iii) dividing the result by
beginning investment levels. As a benchmark, our total business return for the
three years ended December 31, 2000 was 32%.

The LTCPP contemplates three year performance cycles, each cycle commencing at
the beginning of each year, the first of which began on January 1, 2001. At the
beginning of each cycle, the Boards Compensation Committee will establish
threshold, target and maximum total business return performance standards upon
which awards will be based and the dollar amount of the award to be paid at the
target level for each executive officer participating in the LTCPP. At the end
of each three year performance period, actual awards will be determined as a
percentage of the target awards, based on Butlers

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three year total business return. Awards will be paid in cash, subject to
withholding, and we expect executives to use one third of any award to purchase
Company stock.

If a participants employment ends due to:



| |  |  | Death, retirement, permanent disability The executive and his or her
beneficiary may be paid the portion of the LTCPP award covering the time of
the performance period that he or she was actively employed, at the
discretion of the Board Compensation and Benefits Committee.
| | - |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|
| |  |  | Termination (voluntary or involuntary) The executive forfeits any
unpaid LTCPP award amounts.                                                                                                                                                                                    

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