Document:

EX-10.1

Exhibit 10.1

AMENDED AND RESTATED

EMPLOYMENT AND CHANGE-OF-CONTROL AGREEMENT

     THIS AMENDED AND RESTATED EMPLOYMENT AND CHANGE-OF-CONTROL AGREEMENT (“Agreement”) made as of
the 12th day of February, 2009, by and between CENTRA BANK, INC., a West Virginia corporation
(“Employer”), and S. Todd Eckels (“Employee”), joined in by CENTRA FINANCIAL HOLDINGS, INC., a West
Virginia corporation (“Centra Financial”), and by CENTRA FINANCIAL CORPORATION-MORGANTOWN, INC., a
West Virginia corporation (“CFC”).

WITNESSETH THAT:

     WHEREAS, Employer desires to retain the services of Employee as its Senior Vice
President—Commercial Lending, and Employee is willing to make his services available to Employer,
on the terms and subject to the conditions set forth herein; and

     WHEREAS, Employee acknowledges that this Agreement is a benefit to him, that this Agreement is
not required for continued employment with Employer or any affiliate and that Employee is executing
this Agreement voluntarily and of his free will and volition.

     NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties hereto
agree as follows:

     1. Employment. Employee is hereby employed as Senior Vice President—Commercial
Lending Employee hereby accepts and agrees to such employment, subject to the supervision and
pursuant to the orders, advice, and direction of Employer and its Board of Directors. Employee
shall perform such services and duties as may be reasonably assigned to him from time to time by
Employer, consistent with his position.

 

 

     2. Term of Agreement. The term of this Agreement (“Term”) shall commence from and
after the date hereof, and shall ninety (90) days from the date hereof. This Agreement shall renew
for automatic terms of ninety (90) days each, unless Employer, in its sole discretion, notifies
Employee that it will not renew this Agreement, prior to the end of the Term or any renewal term.

     3. Compensation; Other Benefits.

          a. For all services rendered by Employee to Employer under this Agreement, Employer shall pay
to Employee, for the stated period beginning on the date hereof, an annual salary of $149,000.00,
payable in accordance with the payroll practices of Employer applicable to all officers. This
salary may be reviewed for an increase sooner if approved by Employee’s Board of Directors. Any
salary increase payable to Employee shall be determined based on a review of Employee’s total
compensation package, Employer’s performance, the performance of Employee and market
competitiveness. Employee’s annual salary, as it may be adjusted from time to time, will be his
base salary for purposes of future calculations of benefits. The base salary for purposes of
future calculation of benefits may not be reduced.

          b. Except as modified by this Agreement, Employee shall be entitled to participate in all
compensation or employee benefit plans or programs for which Employee may legally be eligible.
Employee shall be entitled to four weeks of vacation per year.

          c. Employer shall pay or reimburse Employee for all reasonable travel and other expenses
incurred by Employee (and his spouse where there is a legitimate business reason for his spouse to
accompany him) in connection with the performance of his duties and obligations under this
Agreement, subject to Employee’s presentation of appropriate vouchers in accordance with such
procedures as Employer may from time to time establish for executive officers generally.

          d. Employer shall provide Employee with a Company vehicle for business and personal use.

          e. Employer shall pay or reimburse Employee for annual membership at The Pines Country Club.

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     4. Termination.

          a. Termination of Employment. Except for Just Cause, in the event that Employee shall
suffer a termination of employment by Employer during the term of this Agreement, the Employee
shall be entitled to receive ninety (90) days’ compensation, including base salary for purposes of
benefit calculation, and customary and usual incentives and bonuses, pro rated to reflect ninety
(90) days’ compensation (based on the average of the incentives and bonuses paid to Employee during
or for the previous two (2) full years, or if less than two (2) full years the amount of said
incentives and bonuses so paid divided by two (2), prior to termination) payable to Employee within
ninety (90) days after termination, and all benefits as set forth in this Agreement, including the
benefits provided for in Section 3 hereof, will continue to be paid by Employer for a period of
ninety (90) days. At the time of said termination, this Agreement shall terminate and the Employer
shall be obligated to make the payments as set forth in this Subsection 4(a) as severance
compensation to the Employee; provided, however, that the payments provided for herein shall not be
payable to Employee in the event of voluntary termination by Employee

          b. Death. If Employee shall die during the Term, this Agreement and the employment
relationship hereunder will automatically terminate on the date of death, which date shall be the
last date of the Term. Notwithstanding this Subsection 4(b), if Employee dies while employed by
Employer, Employee’s estate shall receive Employee’s Compensation as defined in Section 3 herein
for a period of ninety (90) days. If the Employee shall die while terminated from the Bank and is
receiving payments as set forth in Subsection 4(a) hereinabove, then the Employee’s beneficiaries
shall, at their option, be entitled to receive the remainder of payments due hereunder in a lump
sum. Said amount shall be payable on the first day of the second month following the decease of
the Employee.

          c. Just Cause. Employer shall have the right to terminate Employee’s employment under
this Agreement at any time for Just Cause, which termination shall be effective immediately.
Termination for “Just Cause” shall be defined as (i) the willful and/or continued failure of
Employee to perform substantially his duties with the Employer to the Employer’s reasonable
satisfaction (other than any such failure resulting from Employee’s

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incapacity due to illness), (ii) the willful engaging by Employee in illegal conduct, personal
dishonesty, gross personal misbehavior, or gross misconduct that is demonstrably injurious to
Employer, Centra Financial, or CFC, (iii) the Employee’s conviction of, or plea of guilty or
nolo contendere to, a felony involving moral turpitude, (iv) breach of any fiduciary duty involving
personal profit, (v) failure to pass any legal drug test given by or on behalf of the Employer
pursuant to a drug testing policy applicable to Employer’s employees generally, (vi) a material
breach by Employee of this Agreement or any employment agreement with Employer, or (vii) breach of
Section 6 hereof, with a breach to be determined in Employer’s sole discretion. In the event
Employee’s employment under this Agreement is terminated for Just Cause, Employee shall have no
right to receive compensation or other benefits under this Agreement for any period after such
termination.

          d. Change of Control. In the event of a Change of Control (as defined below) of
Employer at any time after the date hereof, and there is a termination as defined in Section 4(a)
within ninety (90) days after the Change of Control, Employee shall be entitled to receive any
compensation due but not yet paid through the date of termination and all compensation and benefits
as set forth in Section 4(a) of this Agreement payable within ninety (90) days following such
termination.

          A “Change of Control” shall be deemed to have occurred if (i) any person or group of persons
(as defined in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934) together with its
affiliates, excluding employee benefit plans of Employer, is or becomes, directly or indirectly,
the “beneficial owner” (as defined in Rule 13d-3 promulgated under the Securities Exchange Act of
1934) of securities of Employer or Centra Financial representing 50% or more of the combined voting
power of Employer’s then outstanding securities; provided, however, that any public or private
stock issuance by Employer shall not constitute a change of control for purposes hereunder, or (ii)
during the term of this Agreement: (X) as a result of a tender offer or exchange offer for the
purchase of securities of Employer (other than such an offer by Employer for its own securities),
or (Y) as a result of a proxy contest, merger, consolidation or sale of assets, and (Z) as a result
of either or any combination of the foregoing, there is a change in the composition of at least
one-half of the members of Employer’s Board of Directors, except new directors whose election or
nomination for election by Employer’s

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shareholders is approved by a vote of at least a majority of the directors still in office who
are directors at the beginning of such ninety (90) day period; or (iii) the shareholders of
Employer or Centra Financial approve a merger or consolidation of Employer or Centra financial with
and into any other corporation or entity, which entity is the survivor, other than a merger or
consolidation which would result in the voting securities of Employer or Centra Financial
outstanding or being converted into voting securities of the surviving entity) at least 50% of the
combined voting power of the voting securities of Employer or Centra Financial or such surviving
entity outstanding immediately after such merger of consolidation.

          e. Non-Competition. During any period in which or for which Employee receives
compensation pursuant to this Agreement, including any period represented by payments under Section
4(a) hereof, Employee will not directly or indirectly, either as a principal, agent, employer,
stockholder, co-partner or in any other individual or representative capacity whatsoever, engage in
the banking and financial services business, which includes consumer, savings, commercial banking
and the insurance and trust businesses, or the savings and loan or mortgage banking business, or
any other business in which Employer or its Affiliates are engaged, anywhere in any county in which
Employer or its Affiliates have an office, and in any county contiguous to any county in which
Employer or its Affiliates have an office, nor will Employee solicit, or assist any other person in
soliciting, any depositors or customers of Employer or its Affiliates or induce any then or former
employee of Employer or its Affiliates to terminate their employment with Employer or its
Affiliates. The term Affiliate as used in this Agreement means a Person that directly or
indirectly through one or more intermediaries, controls, or is controlled by, or is under common
control with, another Person. The term Person as used in this Agreement means any person,
partnership, corporation, group or other entity.

          f. No Mitigation. In receiving any payments pursuant to this Section 4, Employee
shall not be obligated to seek other employment or take any other action by way of mitigation of
the amounts payable to Employee hereunder and such amounts shall not be reduced or terminated
whether or not Employee obtains other employment.

          g. Parachute Payments.

               (1) Notwithstanding anything in this Agreement to the

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contrary, in the event it shall be determined that any payment, award, benefit or distribution
(or any acceleration of any payment, award, benefit or distribution) by Employer (or any of its
affiliated entities) or any entity which effectuates a Change of Control (or any of its affiliated
entities) to or for the benefit of Employee (whether pursuant to the terms of this Agreement or
otherwise) (the “Payments”) would be subject to the excise tax (the “Excise Tax”) under Section
4999 of the Internal Revenue Code of 1986, as amended (the “Code”), then the amounts payable to
Employee under this Agreement shall be reduced (reducing first the payments under Section 3(b),
unless an alternative method of reduction is elected by Employee) to the maximum amount as will
result in no portion of the Payments being subject to such Excise Tax (the “Safe Harbor Cap”). For
purposes of reducing the Payments of the Safe Harbor Cap, only amounts payable under this Agreement
(and no other Payments) shall be reduced, unless consented to by Employee.

               (2) All determinations required to be made under this Subsection 4(g) shall be made by the
public accounting firm that is generally retained by Employer (the “Accounting Firm”). In the
event that the Accounting Firm is serving as accountant or auditor for any individual, entity or
group effecting a Change of Control (or if the Accounting Firm fails to make the Determination),
Employee may appoint another nationally recognized public accounting firm to make the
determinations required hereunder (which accounting firm shall then be referred to as the
Accounting Firm hereunder). If payments are reduced to the Safe Harbor Cap, the Accounting Firm
shall provide a reasonable opinion to Employee that he is not required to report any Excise Tax on
his federal income tax return. All fees, costs and expenses (including, but not limited to the
costs of retaining experts) of the Accounting Firm shall be borne by Employer, and the
determination by the Accounting Firm shall be binding upon Employer and Employee (except as
provided in Subsection (3) below).

               (3) If it is established pursuant to a final determination of a court or an Internal Revenue
Service (the “IRS”) proceeding which has been finally and conclusively resolved, that Payments have
been made to, or provided for the benefit of, Employee by Employer, which are in excess of the
limitations provided in this Section 4 (hereinafter referred to as an “Excess Payment”), such
Excess Payment shall be deemed for all purposes to be a loan to Employee made on the date Employee
received the Excess Payment and

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Employee shall repay the Excess Payment to Employer on demand, together with interest on the
Excess Payment at the applicable federal rate (as defined in Section 1274(d) of the Code) from the
date of Employee’s receipt of such Excess Payment until the date of such repayment. As a result of
the uncertainty in the application of Section 4999 of the Code at the time of the determination, it
is possible that Payments which will not have been made by Employer shall have been made (an
“Underpayment”), consistent with the calculations required to be made under this Subsection 4(g).
In the event that it is determined (i) by the Accounting Firm, Employer (which shall include the
position taken by Employer, or together with its consolidated group, on its federal income tax
return) or the IRS, or (ii) pursuant to a determination by a court, that an Underpayment has
occurred, Employer shall pay an amount equal to such Underpayment to Employee within ten (10) days
of such determination together with interest on such amount at the applicable federal rate from the
date such amount would have been paid to Employee until the date of payment.

          h. Key Employee. To the extent that Employee is a “key employee” (as defined under
Section 416(i) of the Internal Revenue Code, disregarding Section 416(i)(5) of the Internal Revenue
Code) of the Company, no payment of Termination Compensation may be made under this Section 4 prior
to the earlier of (i) the expiration of the six (6) month period measured from the date of
Employee’s separation from service, or (ii) the date of the Employee’s death; provided, however,
that the six (6) month delay required under this Section 4(i) shall not apply to the portion of any
payment resulting from the Employee’s “involuntary separation from service” (as defined in Treas.
Reg. 1.409A l(n) and including a “separation from service for good reason” as defined in Treas.
Reg. 1.409A i(n)(1) that (a) is payable no later than the last day of the second year following the
year in which the separation of service occurs, and (b) does not exceed two (2) times the lesser of
(i) the Employee’s annualized compensation for the year prior to the year in which the separation
from services occurs, or (ii) the dollar limit describe din Section 401(a)(17) of the Code. To the
extent Termination Compensation payable in monthly installments under this Section 4 is required to
be deferred under the preceding sentence, the first six (6) months of monthly installments shall be
payable in month seven following Employee’s separation from service and the remaining monthly
payments shall be made when otherwise scheduled.

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          i. Termination of Employment. Any reference in this Agreement to a termination of
employment, severance from employment or separation from employment shall be deemed to mean a
“Termination of Employment.” A “Termination of Employment” means the termination of the Employee’s
employment with the Company and its Affiliates for reasons other than death or disability. Whether
a Termination of Employment takes place is determined based on the facts and circumstances
surrounding the termination of the Employee’s employment. A Termination of Employment will be
considered to have occurred if it is reasonably anticipated that:

(i) the Employee will not perform any services for the Company or its
Affiliates after Termination of Employment, or

(ii) the Employee will continue to provide services for the Company
or its Affiliates at an annual rate that is less than fifty percent
(50%) of the bona fide services rendered during the immediately
preceding twelve (12) months of employment.

     5. Other Employment. Employee shall devote all of his business time, attention,
knowledge and skills solely to the business and interest of Employer and its Affiliates, and
Employer and its Affiliates shall be entitled to all of the benefits, profits and other emoluments
arising from or incident to all work, services and advice of Employee, and Employee shall not,
during the Term hereof, become interested directly or indirectly, in any manner, as partner,
officer, director, stockholder, advisor, employee or in any other capacity in any other business
similar to Employer’s business; provided, however, that nothing herein contained shall be deemed to
prevent or limit the right of Employee to invest in a business similar to Employer’s business if
such investment is limited to less than 5% of the capital stock or other securities of any
corporation or similar organization whose stock or securities are publicly owned or are regularly
traded on any public exchange or less than 1% of the capital stock of any other entity.

     6. Nondisparagement. Employee agrees that during the Term of this Agreement and for
five (5) years thereafter not to make any statements that disparage Employer, its respective
affiliates, employees, officers, directors, products or services. Notwithstanding the

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foregoing, statements made in the course of sworn testimony in administrative, judicial or
arbitral proceedings (including, without limitation, depositions in connection with such
proceedings) shall not be subject to this Section 6.

     7. Arbitration. Except as otherwise provided in this Section 7, all disputes
arising out of or relating to this Agreement, the interpretation or application of this Agreement,
or Employee’s employment with Employer (hereinafter “Covered Disputes”), shall be resolved solely
and exclusively by binding arbitration, applying the law of West Virginia.

     Unless otherwise agreed in writing by the parties:

          (i) the arbitration will be conducted before a single arbitrator of the American Arbitration
Association (“AAA”), in accordance with the rules of the AAA then in effect regarding arbitration
of employment disputes; and

          (ii) the arbitration will be conducted in Morgantown, West Virginia.

     The award rendered by the arbitrator shall be binding on the parties, and judgment on such
award may be entered by any court of competent jurisdiction.

          a. Injunctions to Enforce Arbitration and to Restrain Violations Pending Arbitration.
Notwithstanding the foregoing, either party may file a lawsuit to compel arbitration of disputes
between the parties and to enjoin violations of this Agreement pending arbitration. Such lawsuit
may be brought only in the Circuit Court of Monongalia County, West Virginia, or the United States
District Court for the Northern District of West Virginia, and Employee and Employer hereby waive
any right that they might have to challenge the selection of those forums, including but not
limited to challenges to personal jurisdiction, venue, or the convenience of the forum.
Specifically, by executing this Agreement, Employee and Employer agree, consent, and stipulate
that, in any action to compel arbitration of a Covered Dispute or to enjoin violations of this
Agreement pending arbitration: (i) the aforesaid courts have personal jurisdiction over Employee
and Employer, (ii) venue is proper in those courts, and (iii) those courts provide a convenient
forum for that action.

     To the maximum extent permitted by the law, the parties stipulate and agree that

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this provision supersedes any analysis of choice of laws. To the extent that a choice-of-laws
analysis is required, the parties stipulate and agree that West Virginia and Federal law shall
govern such analysis.

          b. Arbitration Costs. Employer shall pay all costs and fees charged by AAA for the
arbitration, including the arbitrator’s fees and expenses (“Arbitration Costs”) provided, however,
the arbitrator shall apportion the award of Arbitration Costs between the parties based upon their
relative degree of success.

     8. Joinder by Centra Financial and CFC. Centra Financial and CFC join into this
Agreement to evidence their consent to the terms hereof.

     9. Miscellaneous.

          a. This Agreement shall be governed by and construed in accordance with the laws of the State
of West Virginia without regard to conflicts of law principles thereof.

          b. This Agreement, together with any Stock Option Agreements and Non-Solicitation and
Confidentiality Agreements among any of the parties hereto, constitutes the entire Agreement
between Employee and Employer, with respect to the subject matter hereof, and supersedes all prior
agreements with respect thereto.

          c. This Agreement may be executed in one or more counterparts, all of which, taken together,
shall constitute one and the same instrument.

          d. Any notice or other communication required or permitted under this Agreement shall be
effective only if it is in writing and delivered in person or by reliable overnight courier service
or deposited in the mails, postage prepaid, return receipt requested, addressed as follows:

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To Employer:

Corporate Secretary

Centra Bank, Inc.

990 Elmer Prince Drive

P.O. Box 656

Morgantown, WV 26507-0656

With a copy to:

Corporate Secretary

Centra Financial Holdings, Inc.

Centra Financial Corporation – Morgantown, Inc.

990 Elmer Prince Drive

P.O. Box 656

Morgantown, WV 26507-0656

To Employee:

S. Todd Eckels

1139 Steeplechase Street

Morgantown, WV 26504

Notices given in person or by overnight courier service shall be deemed given when delivered to the
address required by this Section 9(d), and notices given by mail shall be deemed given three (3)
days after deposit in the mails. Any party hereto may designate by written notice to the other
party in accordance herewith any other address to which notices addressed to him shall be sent.

          e. The provisions of this Agreement shall be deemed severable and the invalidity or
unenforceability of any provision shall not affect the validity or enforceability of the other
provisions hereof. It is understood and agreed that no failure or delay by Employer or Employee in
exercising any right, power or privilege under this Agreement shall operate as a waiver thereof,
nor shall any single or partial exercise thereof preclude any other or further exercise thereof or
the exercise of any other right, power or privilege hereunder.

          f. The Employer shall not merge or consolidate into or with another bank or sell substantially
all its assets to another bank, firm or person until such bank, firm or person expressly agrees, in
writing, to assume and discharge the duties and obligations of the

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Bank under this Agreement. This Agreement shall be binding upon the parties hereto, their
successors, beneficiaries, heirs and personal representatives.

          g. It is agreed by and between the parties hereto that, during the lifetime of the Employee,
this Agreement may be amended or revoked at any time or times, in whole or in part, by the mutual
written consent of the Employee and the Employer.

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

	 	 	 	 	 
	 	CENTRA BANK, INC.

 	 
	 	By:  	/s/ Douglas J. Leech
 	 
	 	 	Douglas J. Leech 	 
	 	 	President and CEO 	 
	 
	 	CENTRA FINANCIAL HOLDINGS, INC.

 	 
	 	By:  	/s/ Douglas J. Leech
 	 
	 	 	Douglas J. Leech 	 
	 	 	President and CEO 	 
	 
	 	CENTRA FINANCIAL CORPORATION –

MORGANTOWN, INC.

 	 
	 	By:  	/s/ Douglas J. Leech
 	 
	 	 	Douglas J. Leech 	 
	 	 	President and CEO 	 
	 
	 	EMPLOYEE:

 	 
	 	/s/ S. Todd Eckels
 	 
	 	S. Todd Eckels 	 

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                                                                EXHIBIT 4.a.i(i)

                                   RESOLUTIONS
                            OF THE PRICING COMMITTEE
                            OF THE BOARD OF DIRECTORS
                              OF MASCO CORPORATION

                                 August 17, 1993

         In lieu of a meeting, the undersigned being all of the members of the
Pricing Committee of the Board of Directors of Masco Corporation, a Delaware
corporation (the "Company"), adopt the following resolutions:

         WHEREAS, the Company has filed two Registration Statements (Nos.
33-40067 and 33-53330) on Form S-3 with the Securities and Exchange Commission,
which are in effect;

         WHEREAS, the Company desires to create an additional series of
securities under the Indenture dated as of December 1, 1982 (the "Indenture"),
with Morgan Guaranty Trust Company of New York, as trustee (the "Trustee"),
providing for the issuance from time to time of unsecured debentures, notes or
other evidences of indebtedness of this Company ("Securities") in one or more
series under such Indenture; and

         WHEREAS, capitalized terms used in these resolutions and not otherwise
defined are used with the same meaning ascribed to such terms in the Indenture;

         THEREFORE, IT IS RESOLVED, that there is established a series of
Securities under the Indenture, the terms of which shall be as follows:

         1.   The Securities of such series shall be designated as "7 1/8%
              Debentures Due August 15, 2013".

         2.   The aggregate principal amount of Securities of such series which
              may be authenticated and delivered under the Indenture is limited
              to Two Hundred Million Dollars ($200,000,000), except for
              Securities of such series authenticated and delivered upon
              registration of, transfer of, or in exchange for, or in lieu of,
              other Securities of such series pursuant to Sections 2.07, 2.08,
              2.09, 9.04 or 14.03 of the Indenture.

         3.   The date on which the principal of the Securities of such series
              shall be payable is August 15, 2013.

<PAGE>

         4.   The Securities of such series shall bear interest from August 15,
              1993, at the rate of 7 1/8% per annum, payable semi-annually on
              February 15 and August 15 of each year commencing on February 15,
              1994, until the principal thereof is paid or made available for
              payment. The February 1 or August 1 (whether or not a business
              day), as the case may be, next preceding each such interest
              payment date shall be the "record date" for the determination of
              holders to whom interest is payable.

         5.   The principal of and interest on the Securities of such series
              shall be payable at the office or agency of this Company
              maintained for such purpose under Section 3.02 of the Indenture in
              the Borough of Manhattan, The City of New York, or at any other
              office or agency designated by the Company, for such purpose
              pursuant to the Indenture; provided, however, that at the option
              of the Company payment of interest may be made by check mailed to
              the address of the person entitled thereto as such address shall
              appear on the Company's registry books.

         6.   The Securities of such series shall not be redeemable prior to
              maturity.

         7.   The Securities of such series shall be issuable in denominations
              of One Thousand Dollars ($1,000) and any integral multiples
              thereof.

         8.   The Securities shall be issuable at a price such that this Company
              shall receive $197,000,000 (plus accrued interest from August 15,
              1993 to the date of delivery) after an underwriting discount of
              $1,750,000.

         FURTHER RESOLVED, that the Securities of such series are declared to be
issued under the Indenture and subject to the provisions hereof;

         FURTHER RESOLVED, that the Chairman of the Board, the President of any
Vice President is authorized to execute, on the Company's behalf and in its
name, and the Secretary or an Assistant Secretary is authorized to attest to
such execution and under the Company's seal (which may be in the form of a
facsimile of the Company's seal) $200,000,000 aggregate principal amount of the
Securities of such series (and in addition Securities to replace lost, stolen,
mutilated or destroyed Securities and Securities required for exchange,
substitution or transfer, all as provided in the Indenture) in fully registered
form in substantially the form of the debenture filed as an exhibit to the
Company's Registration Statements on Form S-3 (No. 33-40067 and 33-53330), but
with such changes and insertions therein as are appropriate to conform the
Debentures to the terms set forth herein or otherwise as the respective officers
executing the Securities shall approve and as are not inconsistent with these
resolutions, such approval to be conclusively evidenced by such

<PAGE>

officer's execution and delivery of such Securities, and to deliver such
Securities to the Trustee for authentication, and the Trustee is authorized and
directed thereupon to authenticate and deliver the same to or upon the written
order of the Company as provided in the Indenture;

         FURTHER RESOLVED, that the signatures of the Company officers so
authorized to execute the Securities of such series may be the manual or
facsimile signatures of the present or any future authorized officers and may be
imprinted or otherwise reproduced thereon, and the Company for such purpose
adopts each facsimile signature as binding upon it notwithstanding the fact that
at the time the respective Securities shall be authenticated and delivered or
disposed of, the individual so signing shall have ceased to hold such office;

         FURTHER RESOLVED, that Salomon Brothers Inc and Smith Barney Shearson
Inc. are appointed as the underwriters for the issuance and sale of the
Securities of such series, and the Chairman of the Board, the President or any
Vice President of the Company is authorized, in the Company's name and on its
behalf, to execute and deliver and Underwriting Agreement, substantially in the
form heretofore approved by the Company's Board of Directors, with such
underwriters, with such changes and insertions therein as are appropriate to
conform such Underwriting Agreement to the terms set forth herein or otherwise
as the officer executing such Underwriting Agreement shall approve and as are
not inconsistent with these resolutions, such approval to be conclusively
evidenced by such officer's execution and delivery of the Underwriting
Agreement;

         FURTHER RESOLVED, that Morgan Guaranty Trust Company of New York, the
Trustee under the Indenture, is appointed trustee for Securities of such series,
and as Agent of this Company for the purpose of effecting the registration,
transfer and exchange of the Securities of such series as provided in the
Indenture, and the corporate trust office of Morgan Guaranty Trust Company of
New York in the Borough of Manhattan, The City of New York is designated
pursuant to the Indenture as the office or agency of the Company where such
Securities may be presented for registration, transfer and exchange and where
notices and demands to or upon this Company in respect of the Securities and the
Indenture may be served;

         FURTHER RESOLVED, that Morgan Guaranty Trust Company of New York is
appointed Paying Agent of this Company for the payment of interest on and
principal of the Securities of such series, and the corporate trust office of
Morgan Guaranty Trust Company of New York, is designated, pursuant to the
Indenture, as the office or agency of the Company where Securities may be
presented for payment; and

<PAGE>

         FURTHER RESOLVED, that each Company officer is authorized and directed,
on behalf of the Company and in its name, to do or cause to be done everything
such officer deems advisable to effect the sale and delivery of the Securities
of such series pursuant to the Underwriting Agreement and otherwise to carry out
the Company's obligations under the Underwriting Agreement, and to do or cause
to be done everything and to execute and deliver all documents as such officer
deems advisable in connection with the execution and delivery of the
Underwriting Agreement and the execution, authentication and delivery of such
Securities (including, without limiting the generality of the foregoing,
delivery to the Trustee of the Securities for authentication and of requests or
orders for the authentication and delivery of Securities).

<PAGE>

                 Permanent Global Registered Fixed Rate Security

         THIS DEBENTURE IS A GLOBAL SECURITY AND IS REGISTERED IN THE NAME OF A
DEPOSITORY OR A NOMINEE THEREOF. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN
PART FOR DEBENTURES IN CERTIFICATED FORM, THIS DEBENTURE MAY NOT BE TRANSFERRED
EXCEPT AS A WHOLE BY THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
("DTC") TO A NOMINEE OF DTC OR BY DTC OR ANY SUCH NOMINEE TO A SUCCESSOR
DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITORY. UNLESS THIS DEBENTURE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF DTC TO MASCO CORPORATION OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY DEBENTURE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

                                MASCO CORPORATION
                      7 1/8% Debenture Due August 15, 2013

REGISTERED                                                   CUSIP No. 574599AN6
No. R-1

Masco Corporation, a corporation duly organized and existing under the laws of
the State of Delaware (herein referred to as the "Company"), for value received,
hereby promises to pay to CEDE & CO. or registered assigns, at the office or
agency of the Company in the Borough of Manhattan, The City of New York, the
principal sum of TWO HUNDRED MILLION DOLLARS ($200,000,000) on August 15, 2013,
in such coin or currency of the United States of America as at the time of
payment shall be legal tender for the payment of public and private debts, and
to pay interest, semi-annually on February 15 and August 15 of each year, on
said principal sum at said office or agency, in like coin or currency, at the
rate per annum specified in the title of this Debenture, from the February 15 or
August 15, as the case may be, next preceding the date of this Debenture to
which interest has been paid or duly provided for, unless the date hereof is a
date to which interest has been paid or duly provided for, in which case from
the date of this Debenture, or unless no interest has been paid or duly provided
for on the Debentures since the original issue date (as defined in the Indenture
referred to on the reverse hereof) of this Debenture, in which case from the
February 15 or August 15 next preceding such original issue date or if the
original issue date is a February 15 or August 15 then from such original issue
date, until

                           1
<PAGE>

payment of said principal sum has been made or duly provided for.
Notwithstanding the foregoing, if the date hereof is after February 1 or August
1, as the case may be, and before the following February 15 or August 15, this
Debenture shall bear interest from such February 15 or August 15; provided,
however, that if the Company shall default in the payment of interest on such
February 15 or August 15, then this Debenture shall bear interest from the next
preceding February 15 or August 15 to which interest has been paid or duly
provided for, or, if no interest has been paid or duly provided for on the
Debentures since the original issue date (as defined in such Indenture) of this
Debenture, from the February 15 or August 15 next preceding such original issue
date unless the original issue date is a February 15 or August 15, in which case
from the original issue date hereof. The interest so payable on any February 15
or August 15 will, subject to certain exceptions provided in such Indenture, be
paid to the person in whose name this Debenture is registered at the close of
business on the February 1 or August 1, as the case may be, next preceding such
February 15 or August 15, whether or not such February 1 or August 1 is a
business day, and may, at the option of the Company, be paid by check mailed to
the registered address of such person.

Reference is made to the further provisions of this Debenture set forth on the
reverse hereof. Such further provisions shall for all purposes have the same
effect as though fully set forth at this place.

This Debenture shall not be valid or become obligatory for any purpose until the
certificate of authentication hereon shall have been signed by or on behalf of
the Trustee under such Indenture.

                                      2
<PAGE>

IN WITNESS WHEREOF, Masco Corporation has caused this instrument to be executed
in its corporate name by the facsimile signature of its Chairman of the Board or
its President and imprinted with a facsimile of its corporate seal, attested by
the facsimile signature of its Secretary or an Assistant Secretary.

Dated: August 18, 1993

Masco Corporation

By /s/Richard A. Manoogian
   -----------------------
      Chairman of the Board

Attest

By /s/ Gerald Bright
   -----------------------
       Assistant Secretary

CERTIFICATE OF AUTHENTICATION

THIS IS ONE OF THE SECURITIES OF THE SERIES DESIGNATED THEREIN REFERRED TO IN
THE WITHIN-MENTIONED INDENTURE.

MORGAN GUARANTY TRUST COMPANY OF NEW YORK,
                                        AS TRUSTEE

BY
   ---------------------------------
     AUTHORIZED OFFICER

                                      3
<PAGE>

                              REVERSE OF DEBENTURES

         This Debenture is one of a duly authorized issue of debentures, notes,
bonds or other evidences of indebtedness of the Company (hereinafter called the
"Securities") of the series hereinafter specified, all issued or to be issued
under and pursuant to an indenture dated as of December 1, 1982 (herein called
the "Indenture"), duly executed and delivered by the Company to Morgan Guaranty
Trust Company of New York, Trustee (herein called the "Trustee"), to which
Indenture and all indentures supplemental thereto reference is hereby made for a
description of the rights, limitations of rights, obligations, duties and
immunities thereunder of the Trustee, the Company and holders of the Securities.
The Securities may be issued in one or more series, which different series may
be issued in various aggregate principal amounts, may mature at different times,
may bear interest (if any) at different rates, may be subject to different
redemption provisions (if any), may be subject to different sinking, purchase or
analogous funds (if any), may be subject to different covenants and Events of
Default and may otherwise vary as in the Indenture provided. This Debenture is
one of a series designated as the 7 1/8% Debentures Due August 15, 2013 of the
Company, limited in aggregate principal amount to $200,000,000.

         In case an Event of Default with respect to the 7 1/8% Noes Due August
15, 2013 shall have occurred and be continuing, the principal hereof may be
declared, and upon such declaration shall become, due and payable, in the
manner, with the effect and subject to the conditions provided in the Indenture.

         The Indenture contains provisions permitting the Company and the
Trustee, with the consent of the holders of not less than 66 2/3% in aggregate
principal amount of the Securities at the time outstanding of all series to be
affected (voting as a class), evidenced as in the Indenture provided, to execute
supplemental indentures adding any provisions to or changing in any manner or
eliminating any of the provisions of the Indenture or of any supplemental
indenture or modifying in any manner the rights of the holders of the Securities
of each such series; provided, however, that no such supplemental indenture
shall (i) extend the final maturity of any Security, or reduce the rate or
extend the time of payment of interest thereon, or reduce the principal amount
thereof or any premium thereon, or reduce any amount payable on redemption
thereof or make the principal thereof or any interest of premium thereon payable
in any coin or currency other than that hereinbefore provided, or impair or
affect the right of any holder to institute suit for payment thereof or the
right of repayment, if any, at the option of the holder, without the consent of
the holder of each Security so affected, or (ii) reduce the aforesaid principal
amount of Securities of all series to be affected, the holders of which are
required to consent to any such supplemental indenture, without the consent of
the holders of all Securities so affected then outstanding. It is also provided
in the Indenture that, with respect to certain defaults or Events of Default
regarding the Securities of any series, prior to any declaration accelerating
the maturity of such Securities, the holders of a majority in aggregate
principal amount of the Securities of such series at the time outstanding (or,

                                      4
<PAGE>

in the case of certain defaults or Events of Default, all the Securities) may on
behalf of the holders of all of the Securities of such series (or all the
Securities, as the case may be) waive any such past default or Event of Default
under the Indenture and its consequences except a default in the payment of
principal of, premium, if any, or interest, if any, on any of the Securities.
Any such consent or waiver by the holder of this Debenture (unless revoked as
provided in the Indenture) shall be conclusive and binding upon such holder and
upon all future holders and owners of this Debenture and any Debentures which
may be issued in exchange or transfer hereof or in substitution herefor,
irrespective of whether or not any notation thereof is made upon this Debenture
or such other Debentures.

         No reference herein to the Indenture and no provision of this Debenture
or of the Indenture shall alter or impair the obligation of the Company, which
is absolute and unconditional, to pay the principal of and interest on this
Debenture at the place, at the respective times, at the rate and in the coin or
currency herein prescribed.

         The Debentures are issuable in registered form without coupons in
denominations of $1,000 and any multiple of $1,000. Upon due presentment for
registration of transfer of this Debenture at the office or agency of the
Company for such registration in the Borough of Manhattan, The City of New York,
or any other location or locations as may be provided for pursuant to the
Indenture, a new Debenture or Debentures of authorized denominations for an
equal aggregate principal amount will be issued to the transferee in exchange
therefor, subject to the limitations provided in the Indenture, without charge
except for any tax or other governmental charge imposed in connection therewith.

         The Debentures may not be redeemed prior to maturity.

         The Company, the Trustee and any agent of the Company or the Trustee
may deem and treat the holder hereof as the absolute owner of this Debenture
(whether or not this Debenture shall be overdue and notwithstanding any notation
of ownership or other writing hereon), for the purpose of receiving payment of
or on account of the principal hereof and, subject to the provisions on the face
hereof, interest hereon, and for all other purposes, and neither the Company nor
the Trustee nor any such agent shall be affected by any notice to the contrary.
All payments made to or upon the order of such holder shall, to the extent of
the sum or sums paid, effectually satisfy and discharge liability for moneys
payable hereon.

         No recourse for the payment of the principal of, or premium, if any, or
interest on this Debenture, or for any claim based hereon or otherwise in
respect hereof, and no recourse under or upon any obligation, covenant or
agreement of the Company in the Indenture or any indenture supplemental thereto
or in any Debenture, or because of the creation of any indebtedness represented
thereby, shall be had against any incorporator, stockholder, officer or
director, as such, past, present or future, of the Company or of any successor
corporation, either directly or through the Company or

                                      5
<PAGE>

any successor corporation, whether by virtue of any constitution, statute or
rule of law or by the enforcement of any assessment or penalty or otherwise, all
such liability being, by the acceptance hereof and as part of the consideration
for the issue hereof, expressly waived and released.

         All terms used in this Debenture which are defined in the Indenture
shall have the respective meanings ascribed to them therein.

         This Debenture shall be deemed to be a contract made under the laws of
the State of New York, and for all purposes shall be construed in accordance
with and governed by the laws of that State.

                                      6

<PAGE>

The following abbreviations, where such abbreviations appear on this
certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:
TEN COM - as tenants in common
TEN ENT - as tenants by the entireties
JT TEN - as joint tenants with right of survivorship and not as tenants in
common
UNIF GIFT MIN ACT-              Custodian
                  --------------         --------------------------------
                      (Cust)                          (Minor)
                   under Uniform Gifts to Minors Act
                                                     --------------------
                                                             (State)
Additional abbreviations may also be used though not in the above list.

                FOR VALUE RECEIVED, the undersigned hereby sells,
                           assigns and transfers unto

PLEASE INSERT SOCIAL SECURITY OR OTHER
 IDENTIFYING NUMBER OF ASSIGNEE

--------------------------------------------------------------------------------
             PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS OF ASSIGNEE

--------------------------------------------------------------------------------
              the within Debenture of MASCO CORPORATION and hereby
                     does irrevocably constitute and appoint

                                                                   Attorney
-----------------------------------------------------------------
    to transfer the said Debenture on the books of the within-named Company,
                with full power of substitution in the premises.

Dated
      ---------------------------    -------------------------------------------

                                     NOTICE: THE SIGNATURE TO THIS ASSIGNMENT
                                     MUST CORRESPOND WITH THE NAME AS WRITTEN
                                     UPON THE FACE OF THE CERTIFICATE IN EVERY
                                     PARTICULAR WITHOUT ALTERATION OR
                                     ENLARGEMENT OR ANY CHANGE WHATEVER.

                                        7

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