Document:

EX-10.B.I.IIB

 Exhibit 10.b.i(ii)(B) 

MASCO CORPORATION 
 TERMS AND CONDITIONS OF 
 NON-QUALIFIED STOCK OPTIONS GRANTED 
 UNDER THE MASCO CORPORATION 
 2005 LONG TERM STOCK INCENTIVE PLAN 
 These Terms and Conditions apply to a grant to you of a non-qualified stock option (the “Option”) by the Organization and Compensation Committee (the “Committee”) of the Board of
Directors of Masco Corporation. The grant date, number of shares, exercise price, vesting dates and the expiration date of the Option (“Grant Information”) are set forth under “Stock Options Grant Detail & History”
located under the “Grants & Awards” tab, and are incorporated herein by reference. By pressing “Acknowledge Grant” and “I agree” you agree to accept the Option, and you voluntarily agree to these Terms and
Conditions and the provisions of the 2005 Long Term Stock Incentive Plan (the “Plan”), and acknowledge that: 
  

	 	•	 	 You have read and understand all these Terms and Conditions, and are familiar with the provisions of the Plan. 

 

	 	•	 	 You have received or have access to all of the documents referred to in these Terms and Conditions. 

 

	 	•	 	 All of your rights to the Option are embodied in these Terms and Conditions and in the Plan, and there are no other commitments or understandings
currently outstanding with respect to any other grants of options, restricted stock, phantom stock or stock appreciation rights, except as may be evidenced by agreements duly executed by you and Masco Corporation. 

 

	 	•	 	 In the case of a Change in Control as defined in the Plan, the provisions of subsections 7(f)(ii)(A) and 7(f)(ii)(B) of the Plan (which describe the
Excise Tax Adjustment Payment, or “tax gross-up”) shall be inoperative and unavailable with respect to any rights to shares or to any payments which may occur as a result of accelerated vesting or otherwise, for the shares which are the
subject of this Grant, and under no circumstances shall there be made any Excise Tax Adjustment Payment or similar tax gross-up payment with respect to the shares which are the subject of this Grant following any Change in Control.

 Masco Corporation (the “Company”) and you agree that all of the terms and conditions of the grant
of the Option (including the Grant Information) are set forth in these Terms and Conditions and in the Plan. These Terms and Conditions together with the Grant Information constitute your option agreement (the “Agreement”). Please read
these documents and the related prospectus carefully. Copies of the Plan and the prospectus as well as the Company’s latest annual report to stockholders and proxy statement are available in the “Documents” section of
http://bnymellon.com/shareowner/equityaccess. 
 The use of the words “employment” or “employed” shall be
deemed to refer to employment by the Company and its subsidiaries and shall not include employment by an “Affiliate” (as defined in the Plan) which is not a subsidiary of the Company unless the Committee so determines at the time such
employment commences. 

 This Option, if accepted by you, grants you the right to purchase shares of Company Common
Stock, $1.00 par value, at a price per share which shall not be less than 100% of the fair market value of a share of Company Common Stock on the date of grant. 
 When the Option is Exercisable and Termination 
 The Option is exercisable
cumulatively in installments, provided that, subject to the last sentence of this paragraph, on each date of exercise you qualify under the provisions of the Plan, including Section 6(a), subparagraph (ii) (E), to exercise such Option. All
installments of the Option must be exercised no later than ten years after the date of grant; all unexercised installments or portions thereof shall lapse and the right to purchase shares pursuant to this Option shall be of no further effect after
such date. If during the option exercise periods your employment is terminated for any reason, the Option shall terminate in accordance with Section 6 of the Plan. 
 You agree not to engage in certain activities. 
 Notwithstanding the
foregoing, if at any time you engage in an activity following your termination of employment which in the sole judgment of the Committee is detrimental to the interests of the Company, a subsidiary or affiliated company, all unexercised installments
of the Option or portions thereof will be forfeited to the Company. You acknowledge that such activity includes, but is not limited to, Business Activities (as defined below). 
 In addition you agree, in consideration for the grant of the Option and regardless of whether the Option becomes exercisable or is exercised, while you are employed or retained as a consultant by the
Company or any of its subsidiaries and for a period of one year following any termination of your employment and, if applicable, any consulting relationship with the Company or any of its subsidiaries other than a termination in connection with a
Change in Control (as defined in the Plan), not to engage in, and not to become associated in a “Prohibited Capacity” (as defined below) with any other entity engaged in, any Business Activities and not to encourage or assist others in
encouraging any employee of the Company or any of its subsidiaries to terminate employment or to become engaged in any such Prohibited Capacity with an entity engaged in any Business Activities. “Business Activities” shall mean the design,
development, manufacture, sale, marketing or servicing of any product or providing of services competitive with the products or services of (x) the Company or any subsidiary if you are employed by or consulting with the Company at any time the
Option is outstanding, or (y) the subsidiary employing or retaining you at any time while the Option is outstanding, to the extent such competitive products or services are distributed or provided either (1) in the same geographic area as
are such products or services of the Company or any of its subsidiaries, or (2) to any of the same customers as such products or services of the Company or any of its subsidiaries are distributed or provided. “Prohibited Capacity”
shall mean being associated with an entity as an employee, consultant, investor or another capacity where (1) confidential business information of the Company or any of its subsidiaries could be used in fulfilling any of your duties or
responsibilities with such other entity, (2) any of your duties or responsibilities are similar to or include any of those you had while employed or retained as a consultant by the Company or any of its subsidiaries, or (3) an investment
by you in such other entity represents more than 1% of such other entity’s capital stock, partnership or other ownership interests. 

  
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 Should you either breach or challenge in judicial, arbitration or other proceedings the
validity of any of the restrictions contained in the preceding paragraph, by accepting the Option you agree, independent of any equitable or legal remedies that the Company may have and without limiting the Company’s right to any other
equitable or legal remedies, to pay to the Company in cash immediately upon the demand of the Company (1) the amount of income realized for income tax purposes from the exercise of any portion of the Option, net of all federal, state and other
taxes payable on the amount of such income (and reduced by any amount already paid to the Company under the second preceding paragraph), but only to the extent such exercises occurred on or after your termination of employment or, if applicable, any
consulting relationship with the Company or its subsidiary or within the two year period prior to the date of such termination, plus (2) all costs and expenses of the Company in any effort to enforce its rights under this or the preceding
paragraph. The Company shall have the right to set off or withhold any amount owed to you by the Company or any of its subsidiaries or affiliates for any amount owed to the Company by you hereunder. 

You agree to the application of the Company’s Dispute Resolution Policy. 

Section 3 of the Plan provides, in part, that the Committee shall have the authority to interpret the Plan and Option agreements, and
decide all questions and settle all controversies and disputes relating thereto. It further provides that the determinations, interpretations and decisions of the Committee are within its sole discretion and are final, conclusive and binding on all
persons. In addition, you and the Company agree that if for any reason a claim is asserted against the Company or any of its subsidiaries or affiliated companies or any officer, employee or agent of the foregoing which (1) is within the scope
of the Company’s Dispute Resolution Policy (the terms of which are incorporated herein, as it shall be amended from time to time); (2) subverts the provisions of Section 3 of the Plan; or (3) involves any of the provisions of the
Agreement or the Plan or the provisions of any other option agreements or restricted stock awards or other agreements relating to Company Common Stock or the claims of yourself or any persons to the benefits thereof, in order to provide a more
speedy and economical resolution, the Dispute Resolution Policy shall be the sole and exclusive remedy to resolve all disputes, claims or controversies which are set forth above, except as otherwise agreed in writing by you and the Company or a
subsidiary of the Company. It is our mutual intention that any arbitration award entered under the Dispute Resolution Policy will be final and binding and that a judgment on the award may be entered in any court of competent jurisdiction.
Notwithstanding the provisions of the Dispute Resolution Policy, however, the parties specifically agree that any mediation or arbitration required by this paragraph shall take place at the offices of the American Arbitration Association located in
the metropolitan Detroit area or such other location in the metropolitan Detroit area as the parties might agree. The provisions of this paragraph: (a) shall survive the termination or expiration of this Agreement, (b) shall be binding
upon the Company’s and your respective successors, heirs, personal representatives, designated beneficiaries and any other person asserting a claim based upon this Agreement, (c) shall supersede the provisions of any prior agreement
between you and the Company or its subsidiaries or affiliated companies with respect to any of the Company’s option, restricted stock or other stock-based incentive plans to the extent the provisions of such other agreement requires arbitration
between you and the Company or one of its subsidiaries, and (d) may not be modified without the consent of the Company. Subject to the exception set forth above, you and the Company acknowledge that neither of us nor any other person asserting
a claim described above has the right to resort to any federal, state or local court or administrative agency concerning any such claim and the decision of the arbitrator shall be a complete defense to any action or proceeding instituted in any
tribunal or agency with respect to any dispute. 

  
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 The following provision applies if your employment is terminated. 

If your employment with the Company or any of its subsidiaries is terminated for any reason, other than death, permanent and total
disability, retirement on or after normal retirement date or the sale or other disposition of the business or subsidiary employing you, and other than termination of employment in connection with a Change in Control, and if any installments of the
Option or any restoration options granted upon any exercise of the Option became exercisable within the two year period prior to the date of such termination (such installments and restoration options being referred to as the “Subject
Options”), by accepting the Option you agree that the following provisions will apply: 
  

	 	(1)	Upon the demand of the Company you will pay to the Company in cash within 30 days after the date of such termination the amount of income realized for income tax
purposes from the exercise of any Subject Options, net of all federal, state and other taxes payable on the amount of such income, plus all costs and expenses of the Company in any effort to enforce its rights hereunder; and

  

	 	(2)	Any right you would otherwise have, pursuant to the terms of the Plan and these Terms and Conditions, to exercise any Subject Options on or after the date of such
termination, shall be extinguished as of the date of such termination. 

 The Company shall have the right to set off or withhold
any amount owed to you by the Company or any of its subsidiaries or affiliates for any amount owed to the Company by you hereunder. 
 The
Option grant does not imply any employment or consulting commitment by the Company. 
 You agree that the grant of the Option
and acceptance of the Option does not imply any commitment by the Company, a subsidiary or affiliated company to your continued employment or consulting relationship, and that your employment status is that of an employee-at-will and in particular
that the Company, its subsidiary or affiliated company has a continuing right with or without cause (unless otherwise specifically agreed to in writing executed by you and the Company) to terminate your employment or other relationship at any time.
You agree that your acceptance represents your agreement not to terminate voluntarily your current employment (or consulting arrangement, if applicable) for at least one year from the date of grant unless you have already agreed in writing to a
longer period. 
 You agree to comply with applicable tax requirements and to provide information as requested. 

You agree to comply with the requirements of applicable federal and other laws with respect to withholding or providing for the payment of
required taxes. You also agree to promptly provide such information with respect to shares acquired pursuant to the Option, as may be requested by the Company or any of its subsidiaries or affiliated companies. 

  
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 The Agreement shall be governed by and interpreted in accordance with Michigan law.

 The headings set forth herein are for informational purposes only and are not a substantive part of these Terms and
Conditions. 
 These Terms and Conditions are effective for grants made on and after February 6, 2012. 

  
 5EX-10.B.II

 Exhibit 10.b.ii 

MASCO CORPORATION 
 NON-EMPLOYEE DIRECTORS EQUITY PROGRAM 
 UNDER THE 2005 LONG TERM STOCK
INCENTIVE PLAN  
 (Amended July 2012) 
 For purposes of the Masco Corporation (the “Company”) Non-Employee Directors Equity Program (the “Program”), an “Eligible Director” is any Director of the
Company who is not an employee of the Company and who receives a fee for services as a Director. Terms not defined herein have the meaning given to them in the Company’s 2005 Long Term Stock Incentive Plan, as amended from time to time (the
“Plan”). 
 Section 1. Restricted Stock Award 

(a)    (i) Eligibility for Award. On the date of each of the Company’s annual stockholders’ meetings
(the “Annual Meeting”), each person who is or becomes an Eligible Director at such meeting and whose service on the Board is expected to continue following such meeting shall be granted an Award of Restricted Stock. 

(ii) Amount of Award. The amount of the Award of Restricted Stock shall be equal to one-half of the annual retainer then paid to
non-employee Directors as compensation for their service as a Director, disregarding any retainer provided as compensation for service on a Board committee or as Chair of a Board committee (the “Annual Retainer”); provided,
however, that the amount of an Award of Restricted Stock granted to any Eligible Director who began serving as a Director other than at an Annual Meeting shall be prorated to reflect the partial service provided by such Eligible Director in
the period between Annual Meetings. If an Eligible Director begins serving as a Director after the date of an Annual Meeting, Awards of Restricted Stock granted hereunder shall be granted on the date of the first meeting of the Corporate Governance
and Nominating Committee that takes place after such Eligible Director is first elected or appointed to the Board, and such Awards shall be pro-rated as provided above. 
 (iii) Adjustment to Amount or Terms of Award. The Board shall have sole discretion to adjust the amount of the Annual Retainer to be paid in the form of Shares and the terms of any such Award of
Shares. Except as the Board may otherwise determine, any increase or decrease in an Eligible Director’s Annual Retainer during a period with respect to which such Eligible Director has already been granted an Award of Restricted Stock shall be
implemented by increasing or decreasing the cash portion of such Eligible Director’s Annual Retainer. 
 (b) Each Award of
Restricted Stock granted hereunder shall vest with respect to one-third of the Shares underlying such Award (disregarding fractional shares) on May 15 of each of the three consecutive calendar years following the year in which such Award is
granted, subject to clauses (e) through (h) below. 
 (c) The price of the Shares used in determining the number of
Shares subject to an Award of Restricted Stock granted hereunder shall be the fair market value of the Shares as determined by the Board on the date that such Award is granted. If the date that an Award

 
would otherwise be granted in accordance with Section 1(a) falls within seven days prior to the release of the Company’s quarterly or annual financial results, such an Award will
instead be granted on the second market trading day following the date on which such financial results are released. 
 (d) Each
Eligible Director shall be entitled to vote and receive dividends on his or her Shares of Restricted Stock, but will not be able to obtain a stock certificate or sell, encumber or otherwise transfer Shares of Restricted Stock except in accordance
with the terms of the Plan. 
 (e) If an Eligible Director’s term of service as a Director terminates for any reason other
than as a result of death, permanent and total disability or retirement on or after normal retirement age as set forth in the Company’s Corporate Governance Guidelines, all Shares of Restricted Stock held by such Eligible Director that remain
subject to restrictions shall be forfeited and transferred back to the Company on the date of such termination; provided, however, that any Shares of Restricted Stock that remain subject to restrictions but that would have vested on
May 15 the year following the year of such Eligible Director’s termination shall vest pro rata on the date of termination based upon that portion of the year between annual vesting dates in which the termination occurred during which such
Eligible Director served as a Director. 
 (f) Notwithstanding the foregoing or clause (g) below, if, following termination
of service as a Director for any reason other than death (including due to retirement), an Eligible Director continues to hold Shares of Restricted Stock, the Board, in its sole judgment, may cause all Shares of Restricted Stock that remain subject
to restrictions to be forfeited and transferred back to the Company concurrently with, or at any time following, such termination if the Board determines that such former Director has engaged in any activity detrimental to the interests of the
Company, a subsidiary or an affiliated company. 
 (g) If an Eligible Director’s term of service as a Director is
terminated by reason of death or permanent and total disability or, if following termination or retirement as a Director, a former Director dies while continuing to have rights under an Award of Restricted Stock, upon such death or termination by
reason of permanent and total disability, the restrictions contained in any such Award of Restricted Stock shall lapse. 
 (h)
If an Eligible Director’s term of service as a Director is terminated by reason of retirement on or after normal retirement age for a Director as set forth in the Company’s Corporate Governance Guidelines, the restrictions contained in any
Award of Restricted Stock held by such Eligible Director shall continue to lapse in the same manner as if his or her term of service had not terminated. 
 (i) The provisions of Section 6(d)(v) of the Plan (“Acceleration”) shall not apply to Awards of Restricted Stock granted to Eligible Directors. 

  
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 Section 2. Non-Compete Provision 

Each Award of Restricted Stock granted hereunder shall contain a provision whereby the Award holder shall agree, in consideration for the
Award and regardless of whether restrictions on Shares of Restricted Stock have lapsed, as follows: 
 (a) While the holder is a
Director of the Company and for a period of one year following the later of the last date of vesting of any Shares or the termination of such holder’s term as a Director of the Company, other than a termination following a Change in Control,
the Award holder shall agree not to engage in, and not to become associated in a “Prohibited Capacity” (as hereinafter defined) with any other entity engaged in, any ‘‘Business Activities” (as hereinafter defined) and not to
encourage or assist others in encouraging any employee of the Company or any of its subsidiaries to terminate employment or to become engaged in any such Prohibited Capacity with an entity engaged in any Business Activities. “Business
Activities” shall mean the design, development, manufacture, sale, marketing or servicing of any product, or providing of services competitive with the products or services, of the Company or any subsidiary at any time while the Award is
outstanding, to the extent that such competitive products or services are distributed or provided either (1) in the same geographic area as are such products or services of the Company or any of its subsidiaries or (2) to any of the same
customers as such products or services of the Company or any of its subsidiaries are distributed or provided. “Prohibited Capacity” shall mean being associated with an entity as a director, employee, consultant, investor or in
another capacity where (1) confidential business information of the Company or any of its subsidiaries could be used in fulfilling any of the holder’s duties or responsibilities with such other entity, or (2) an investment by the
Award holder in such other entity represents more than 1% of such other entity’s capital stock, partnership or other ownership interests. 
 (b) Should the Award holder either breach or challenge in judicial or arbitration proceedings the validity of any of the restrictions contained in the preceding paragraph, by accepting an Award, the Award
holder shall agree, independent of any equitable or legal remedies that the Company may have and without limiting the Company’s right to any other equitable or legal remedies, to pay to the Company in cash immediately upon the demand of the
Company (1) the amount of income realized for income tax purposes from the Award, net of all federal, state and other taxes payable on the amount of such income, but only to the extent that such income is realized from restrictions lapsing on
Shares or exercises occurring, as the case may be, on or after the termination of the Award holder’s term as a Director of the Company or within the two-year period prior to the date of such termination, plus (2) all costs and expenses of
the Company in any effort to enforce its rights under this or the preceding paragraph. The Company shall have the right to set off or withhold any amount owed to the Award holder by the Company or any of its subsidiaries or affiliates for any amount
owed to the Company by the Award holder hereunder. 
 Section 3. Termination, Modification or Suspension 

The Board may terminate, modify or suspend the Program at any time as it may deem advisable. 

  
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