EXHIBIT 10.5 - Summary Sheet of Executive Cash Compensation



 Exhibit 10.5 

SUMMARY SHEET OF EXECUTIVE CASH COMPENSATION 

The following table sets forth annual base salaries provided to the Company’s principal executive officer, principal financial officer and other named
executive officers in 2017 and as adopted for 2018 by the Company’s Compensation Committee (the “Committee”) on November 6, 2017. 
  

									
	 Named Executive Officers
	  	2017 Base
Salary	 	  	2018 Base
Salary	 
	 Karl G. Glassman, President and CEO
	  	$	1,175,000	 	  	$	1,225,000	 
	 Matthew C. Flanigan, EVP and CFO
	  	$	550,000	 	  	$	572,000	 
	 Perry E. Davis, EVP, President – Residential Products & Industrial Products
	  	$	500,000	 	  	$	512,000	 
	 J. Mitchell Dolloff, EVP, President – Specialized Products & Furniture
Products
	  	$	500,000	 	  	$	512,000	 
	 Jack D. Crusa, SVP –
Operations1
	  	$	152,000	 	  	 	N/A	 

  

	1 	As previously reported, Mr. Crusa notified the Company that his retirement date is expected to be December 31, 2017. As determined in January 2017, as part of Mr. Crusa’s retirement transition, he
continued to receive an annual base salary of $380,000 until April 2, 2017 when such rate was reduced to $190,000. His salary rate was further reduced to $152,000 on July 9, 2017. 


Except as noted below, the named executive officers are eligible to receive an annual cash incentive under the Company’s 2014 Key Officers Incentive Plan
(filed March 25, 2014 as Appendix A to the Company’s Proxy Statement) (the “KOIP”) in accordance with the 2018 KOIP Award Formula. We expect to adopt the 2018 Award Formula under the Company’s KOIP in March 2018. We
expect the 2018 KOIP Award Formula to be largely similar to the 2017 KOIP Award Formula, under which an executive officer is eligible to receive a cash award calculated by multiplying his annual base salary at the end of the year by a percentage set
by the Compensation Committee (the “Target Percentage”), then applying the award formula. Corporate Participants and Profit Center Participants are expected to have separate award calculations based on factors defined in the 2018
KOIP Award Formula. For 2018, those factors are expected to be based on the achievement of Return on Capital Employed (60% relative weight), Cash Flow (for Glassman and Flanigan) and Free Cash Flow (for Davis and Dolloff) each at 20% relative
weight, and Individual Performance Goals established outside the KOIP (20% relative weight). The Target Percentages for 2017, and as adopted for 2018 by the Committee on November 6, 2017, for the principal executive officer, principal financial
officer, and other named executive officers are shown in the following table. 
  

									
	 Named Executive Officers
	  	2017 KOIP
Target
Percentage	 	 	2018 KOIP
Target
Percentage	 
	 Karl G. Glassman, President and CEO
	  	 	120	% 	 	 	120	% 
	 Matthew C. Flanigan, EVP and CFO
	  	 	80	% 	 	 	80	% 
	 Perry E. Davis, EVP, President – Residential Products & Industrial Products
	  	 	80	% 	 	 	80	% 
	 J. Mitchell Dolloff, EVP, President – Specialized Products & Furniture
Products
	  	 	80	% 	 	 	80	% 
	 Jack D. Crusa, SVP –
Operations1
	  	 	N/A	 	 	 	N/A	 

  

	1 	As previously reported, Mr. Crusa notified the Company that his retirement date is expected to be December 31, 2017. As determined in January 2017, as part of Mr. Crusa’s retirement transition, he is
participating, in 2017, in the Company’s Key Management Incentive Compensation Plan (the “KMICP”), which is a cash bonus plan for non-executive officers. The KMICP award formula for
Mr. Crusa was adopted on March 22, 2017 and included performance objectives based on Return on Capital Employed (70% relative weight) and Free Cash Flow (30% relative weight). It will be calculated by multiplying his weighted average
annual base salary for 2017 by his target percentage of 60%, then applying the award formula. For more information about the KMICP as it applies to Mr. Crusa for 2017, refer to the Company’s Form 8-K
filed March 27, 2017. Given his December 31, 2017 retirement, Mr. Crusa will not participate in the KOIP or the KMICP in 2018. 








 Individual Performance Goals. On November 6, 2017, the Committee adopted Individual
Performance Goals (“IPGs”) for our named executive officers. Except as noted below, the 2017 KOIP Award Formula recognizes, and the 2018 KOIP Award Formula is expected to recognize, that 20% of each executive’s cash award in
2017 and 2018 respectively, under our KOIP will be based on the achievement of the IPGs. The IPGs for our named executive officers in 2018 are, and for 2017, were: 
  

					
	 Named Executive Officers
	  	 2017 IPGs
	  	 2018 IPGs

	 Karl G. Glassman
President and CEO
	  	Strategic planning and succession planning	  	Implementation of growth strategy and succession planning
			
	 Matthew C. Flanigan
EVP and CFO
	  	Strategic planning, information technology improvements, succession planning and efficiency initiatives	  	Implementation of growth strategy, succession planning and financial partner initiatives
			
	 Perry E. Davis
EVP, President – Residential
Products &
Industrial Products
	  	Growth initiatives and succession planning	  	Supply chain and growth initiatives and succession planning
			
	 J. Mitchell Dolloff
EVP, President – Specialized Products
&
Furniture Products
	  	Strategic planning, succession planning and efficiency initiatives	  	Implementation of growth strategy, succession planning and efficiency initiatives
			
	 Jack D. Crusa
SVP
–Operations1
	  	None assigned	  	N/A

  

	1 	Mr. Crusa notified the Company that his retirement date is expected to be December 31, 2017. As determined in January 2017, as part of Mr. Crusa’s retirement transition, he is participating in the
KMICP in 2017, which is a cash bonus plan for non-executive officers. As such, he did not receive IPGs for 2017.    Given his December 31, 2017 retirement, Mr. Crusa will not have
IPGs in 2018. 

 The achievement of the IPGs is measured by the following schedule. 

Individual Performance Goals Payout Schedule 

(1-5 scale) 
  

					
	 Achievement
	  	Payout	 
	 1 – Did not achieve goal
	  	 	0	% 
	 2 – Partially achieved goal
	  	 	50	% 
	 3 – Substantially achieved goal
	  	 	75	% 
	 4 – Fully achieved goal
	  	 	100	% 
	 5 – Significantly exceeded goal
	  	 	up to 150	% 


  
 2