Document:

Filed by Bowne Pure Compliance

 

Exhibit 10.5

QUANEX BUILDING PRODUCTS CORPORATION

DIRECTOR STOCK OPTION AGREEMENT

<<Full Name>>

Grantee

	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Date of Grant:

	 	<<
	 	 	>>	 	 
	 

	 	 	 	 

	 	 	 	 
	Total Number of Shares Granted:

	 	<<
	 	 	>>	 	 
	 

	 	 	 	 

	 	 	 	 
	Exercise Price per Share:

	 	<<
	$	 	>>	 	 
	 

	 	 	 	 

	 	 	 	 
	Expiration Date:

	 	<<
	 	
 

	>>
	 	 
	General Vesting Schedule:	 	[100% exercisable on the [first][second][third] anniversary date
of the Date of Grant. 0% exercisable prior to the [first][second][third] anniversary of
the Date of Grant.]
	 
	 	 	 	 	 	 	 	 
	 	 	[3 years, with vesting in installments of 33 1/3% on
the anniversary date of the Date of Grant in each of the
years]
	 
	 	 	 	 	 	 	 	 
	 	 	[100% exercisable on Date of Grant.]

GRANT OF OPTION

	1.	 	GRANT OF OPTION. Quanex Building Products Corporation, a Delaware corporation (the
“Company”), pursuant to the Quanex Building Products Corporation 2008 Omnibus Incentive Plan
(the “Plan”), hereby grants to you, the above-named Grantee, effective as of the Date of Grant
set forth above, a nonqualified stock option to purchase the total number of shares set forth
above of the Company’s common stock, $0.01 par value per share, at the exercise price set
forth above for each share subject to this option, subject to adjustment as provided in the
Plan. The option is exercisable in installments in accordance with the Vesting Schedule set
forth above with the exercise price payable at the time of exercise. To the extent not
exercised, installments shall be cumulative and may be exercised in whole or in part until the
option terminates. The option may not be exercised after the Expiration Date, or the
applicable date following your termination of membership on the Board of Directors of the
Company specified in this Stock Option Agreement (this “Agreement”).

	 
	2.	 	TERMINATION OF MEMBERSHIP/CHANGE IN CONTROL. The following provisions will apply in
the event you cease to be a member of the Board of Directors of the Company (the “Board”), or
a Change in Control of the Company occurs, before the Expiration Date set forth in the
Agreement:

	 
	 	 	2.1 Termination Generally. If you cease to be a member of the Board before the
Expiration Date for any reason other than one of the reasons described in Sections 2.2
through 2.4 below, all of your rights in the option shall terminate and become null and void
on the earlier of the Expiration Date or 90 days after the date your membership on the Board
terminates. Except as specified in Sections 2.2 through 2.4 below, the option shall not
continue to vest in the event you cease to be a member of the Board for any reason.

Director

[Cliff Vesting]—[Graded Vesting]—[Immediate Vesting]

 

 

 

	 	 	2.2 Change in Control of the Company. If a Change in Control of the Company occurs
on or before the Expiration Date, then your rights under the option that have not then
vested shall vest on the effective date of the Change in Control of the Company. All rights
in the option shall terminate and become null and void on the earlier of the Expiration Date
or three years after the date of the Change in Control of the Company.

	 
	 	 	2.3 Retirement or Disability. If you cease to be a member of the Board due to your
Retirement or Disability, then your option shall continue to vest after such termination of
employment until the earlier of the Expiration Date or three (3) years after the date you
cease to be a member of the Board as a result of Retirement or a Disability. For purposes
of this Section 2.3, the term “Retirement” means your voluntary cessation of your membership
as a director with the Company on or after the date you serve six years or two consecutive
terms as a director.

	 
	 	 	2.4 Death. If you cease to be a member of the Board due to your death, then your
option shall continue to vest after such termination of employment until the earlier of the
Expiration Date or three years after the date of your death. After your death, your
executors, administrators or any person or persons to whom your option may be transferred by
will or by the laws of descent and distribution, shall have the right, at any time prior to
the termination of the option to exercise the option.

	 
	3.	 	CASHLESS EXERCISE. Cashless exercise, in accordance with the terms of the Plan,
shall be available to you for the shares subject to the option.

	 
	4.	 	NONTRANSFERABILITY. Except as specified in this Agreement, the option and the
Agreement are not transferable or assignable by you other than by will or the laws of descent
and distribution, and shall be exercisable during your lifetime only by you. You may transfer
this option to a member or members of your immediate family, a trust under which your
immediate family members are the only beneficiaries and a partnership of which your immediate
family members are the only partners. For this purpose, “immediate family” means your spouse,
children, stepchildren, grandchildren, parents, grandparents, siblings (including half
brothers and sisters), and individuals who are family members by adoption. Notwithstanding
any other provision of this Agreement, such a transferee of the option granted under this
Agreement may exercise the option during your lifetime. None of the Company, its employees or
directors makes any representations or guarantees concerning the tax consequences associated
with the inclusion of this provision in this Agreement, your transfer of the option granted
under this Agreement or the transferee’s exercise of the option. It is your sole
responsibility to seek advice from your own tax advisors concerning those tax consequences.
You are entitled to rely upon only the tax advice of your own tax advisors.

	 
	5.	 	CAPITAL ADJUSTMENTS AND REORGANIZATIONS. The existence of the option shall not
affect in any way the right or power of the Company or any company the stock of which is
issued pursuant to the Agreement to make or authorize any adjustment, recapitalization,
reorganization or other change in its capital structure or its business, engage in any merger
or consolidation, issue any debt or equity securities, dissolve or liquidate, or sell, lease,
exchange or otherwise dispose of all or any part of its assets or business, or engage in any
other corporate act or proceeding.

	 
	6.	 	NO RIGHTS AS A STOCKHOLDER. You shall not have any rights as a stockholder of the
Company with respect to any shares covered by the option until the date of the issuance of
such shares following exercise of the option pursuant to this Agreement and payment for the
 shares.

Director

[Cliff Vesting]—[Graded Vesting]—[Immediate Vesting]

 

2

 

	7.	 	SECURITIES ACT LEGEND. If you are an officer or affiliate of the Company under the
Securities Act of 1933, you consent to the placing on any certificate for the Shares of an
appropriate legend restricting resale or other transfer of the Shares except in accordance
with such Act and all applicable rules thereunder.

	 
	8.	 	LIMIT OF LIABILITY. Under no circumstances will the Company be liable for any
indirect, incidental, consequential or special damages (including lost profits) of any form
incurred by any person, whether or not foreseeable and regardless of the form of the act in
which such a claim may be brought, with respect to the Plan.

	 
	9.	 	REGISTRATION. The Shares that may be issued under the Plan are registered with the
Securities and Exchange Commission under a Registration Statement on Form S-8.

	 
	10.	 	SALE OF SECURITIES. The Shares that may be issued under this Agreement may not be
sold or otherwise disposed of in any manner that would constitute a violation of any
applicable federal or state securities laws. You also agree that (a) the Company may refuse
to cause the transfer of the Shares to be registered on the stock register of the Company if
such proposed transfer would in the opinion of counsel satisfactory to the Company constitute
a violation of any applicable federal or state securities law and (b) the Company may give
related instructions to the transfer agent, if any, to stop registration of the transfer of
the Shares.

	 
	11.	 	MISCELLANEOUS. The Agreement and the option are awarded pursuant to and is subject
to all of the provisions of the Plan, which are incorporated by reference herein, including
all amendments to the Plan, if any. In the event of a conflict between this Agreement and the
Plan provisions, the Plan provisions will control. Capitalized terms that are not defined
herein shall have the meanings ascribed to such terms in the Plan or this Agreement.

By your acceptance of the option, you agree that the option is granted under, governed by and
subject to the terms of the Plan and this Agreement.

	 	 	 	 	 
	 

	 	QUANEX BUILDING PRODUCTS CORPORATION	 	 
	 
	 
	 	 	 	 
	 

	 	 

Raymond Jean – Chief Executive Officer
	 	 

Director

[Cliff Vesting]—[Graded Vesting]—[Immediate Vesting]

 

3Filed by Bowne Pure Compliance

 

Exhibit 10.6

QUANEX BUILDING PRODUCTS CORPORATION

EMPLOYEE RESTRICTED STOCK AWARD AGREEMENT

<<Full Name>>

Grantee

	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Date of Award:

	 	<<
	 

	>>
	 	 
	 
	 	 	 	 	 	 	 	 
	Number of Shares:

	 	<<
	 

	>>
	 	 
	 
	 	 	 	 	 	 	 	 
	General Vesting 

Schedule/Restriction Period:	 	[3 years, with vesting in installments of
33 1/3% on the anniversary date of the
Date of Award in each of the years
                    ,
                    
and                     .]
	 
	 	 	 	 	 	 	 	 
	 	 	[100% exercisable on the
[first][second][third] anniversary of the
Date of Award. 0% exercisable prior to
the [first][second][third] anniversary of
the Date of Award.]

AWARD OF RESTRICTED STOCK

	1.	 	GRANT OF RESTRICTED STOCK AWARD. The Compensation Committee (the “Committee”) of the Board
of Directors of Quanex Building Products Corporation, a Delaware corporation (the “Company”),
pursuant to the Quanex Building Products Corporation 2008 Omnibus Incentive Plan (the “Plan”),
hereby awards to you, the above-named Grantee, effective as of the Date of Award set forth
above (the “Date of Award”), that number of shares (the “Shares”) of the Company’s common
stock, $0.01 par value per share (the “Common Stock”), set forth above as Restricted Stock on
the following terms and conditions:

	 
	 	 	During the Restricted Period, the Shares of Restricted Stock will be evidenced by entries in
the stock register of the Company reflecting that such Shares of Restricted Stock have been
issued in your name. For purposes of this Agreement, the term “Restricted Period” means the
period designated by the Committee during which the Shares may not be sold, assigned,
transferred, pledged, or otherwise encumbered.

	 
	 	 	The Shares that are awarded hereby to you as Restricted Stock shall be subject to the
prohibitions and restrictions set forth herein with respect to the sale or other disposition
of such Shares and the obligation to forfeit and surrender such Shares to the Company (the
“Forfeiture Restrictions”). The Restricted Period and all Forfeiture Restrictions on the
Restricted Stock covered hereby shall lapse as to those shares when the shares become vested
and you meet all other terms and conditions of this Agreement.

	 
	2.	 	TERMINATION OF EMPLOYMENT. The following provisions will apply in the event your employment
with the Company and all Affiliates (collectively, the “Company Group”) terminates before the
third anniversary of the Date of Award (the “Third Anniversary Date”) under the Agreement:

	 
	 	 	2.1 Termination Generally. Except as specified in Sections 2.2 or 2.3 below, if
your employment with the Company Group terminates on or before the Third Anniversary Date,
the Forfeiture Restrictions then applicable to the Shares of Restricted Stock shall not
lapse and the number of Shares of Restricted Stock then subject to the Forfeiture
Restrictions shall be forfeited to the Company on the date your employment terminates.

Employee

[Cliff Vesting]—[Graded Vesting]

 

 

 

	 	 	2.2 Disability. Notwithstanding any other provision of this Agreement to the
contrary, if you incur a Disability before the Third Anniversary Date and while in the
active employ of one or more members of the Company Group, all remaining Forfeiture
Restrictions shall lapse on a prorated basis determined by dividing the number of days
during the period commencing on the [last anniversary vesting date][Date of Grant]
and ending on the date of your Disability by 1095.

	 
	 	 	2.3 Death. Notwithstanding any other provision of this Agreement to the contrary,
if you die before the Third Anniversary Date and while in the active employ of one or more
members of the Company Group, all remaining Forfeiture Restrictions shall lapse on a
prorated basis determined by dividing the number of days during the period commencing on the
[last anniversary vesting date][Date of Grant] and ending on the date of your death
by 1095.

	 
	3.	 	TAX WITHHOLDING. To the extent that the receipt of the Shares of Restricted Stock or the
lapse of any Forfeiture Restrictions results in income, wages or other compensation to you for
any income, employment or other tax purposes with respect to which the Company has a
withholding obligation, you shall deliver to the Company at the time of such receipt or lapse,
as the case may be, such amount of money as the Company may require to meet its obligation
under applicable tax laws or regulations, and, if you fail to do so, the Company is authorized
to withhold from the Shares awarded hereby or from any cash or stock remuneration or other
payment then or thereafter payable to you any tax required to be withheld by reason of such
taxable income, wages or compensation sufficient to satisfy the withholding obligation based
on the last per share sales price of the Common Stock for the trading day immediately
preceding the date that the withholding obligation arises, as reported in the New York Stock
Exchange Composite Transactions.

	 
	4.	 	NONTRANSFERABILITY. This Agreement is not transferable by you otherwise than by will or by
the laws of descent and distribution. The Shares of Restricted Stock awarded hereby may not
be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or
disposed of (other than by will or the applicable laws of descent and distribution) to the
extent then subject to the Forfeiture Restrictions. Any such attempted sale, assignment,
pledge, exchange, hypothecation, transfer, encumbrance or disposition in violation of this
Agreement shall be void and the Company Group shall not be bound thereby.

	 
	 	 	Further, the Shares awarded hereby that are no longer subject to Forfeiture Restrictions may
not be sold or otherwise disposed of in any manner that would constitute a violation of any
applicable federal or state securities laws. You also agree that (a) the Company may refuse
to cause the transfer of the Shares to be registered on the stock register of the Company if
such proposed transfer would in the opinion of counsel satisfactory to the Company
constitute a violation of any applicable federal or state securities law and (b) the Company
may give related instructions to the transfer agent, if any, to stop registration of the
transfer of the Shares. Upon the lapse of the Forfeiture Restrictions with respect to
Shares awarded hereby such Shares shall be transferable by you (except to the extent that
any proposed transfer would, in the opinion of counsel satisfactory to the Company,
constitute a violation of applicable federal or state securities law).

	 
	5.	 	CAPITAL ADJUSTMENTS AND REORGANIZATIONS. The existence of the Shares of Restricted Stock
shall not affect in any way the right or power of the Company or any company the
stock of which is awarded pursuant to this Agreement to make or authorize any adjustment,
recapitalization, reorganization or other change in its capital structure or its business,
engage in any merger or consolidation, issue any debt or equity securities, dissolve or
liquidate, or sell, lease, exchange or otherwise dispose of all or any part of its assets or
business, or engage in any other corporate act or proceeding.

Employee

[Cliff Vesting]—[Graded Vesting]

 

2

 

	6.	 	RIGHTS REGARDING DISTRIBUTIONS MADE BY THE COMPANY DURING THE RESTRICTED PERIOD. During the
Restricted Period, (a) any securities of the Company distributed by the Company in respect of
the Shares of Restricted Stock will be evidenced by entries in the appropriate securities
register of the Company reflecting that such securities of the Company, if any, have been
issued in your name (the “Retained Company Securities”) and (b) any securities of any company
other than the Company or any other property (other than regular cash dividends) distributed
by the Company in respect of the Shares of Restricted Stock will be evidenced in your name by
such certificates or in such other manner as the Company determines (the “Retained Other
Securities and Property”) and may bear a restrictive legend to the effect that ownership of
such Retained Other Securities and Property and the enjoyment of all rights appurtenant
thereto, are subject to the restrictions, terms, and conditions provided in the Plan and this
Agreement. The Retained Company Securities and the Retained Other Securities and Property
(collectively, the “Retained Distributions”) shall be subject to the same restrictions, terms
and conditions as are applicable to the Shares of Restricted Stock.

	 
	7.	 	RIGHTS WITH RESPECT TO SHARES OF RESTRICTED STOCK AND RETAINED DISTRIBUTIONS DURING
RESTRICTED PERIOD. You shall have the right to vote the Shares of Restricted Stock awarded to
you and to receive and retain all regular cash dividends (which will be paid currently and in
no case later than the end of the calendar year in which the dividends are paid to the holders
of the Common Stock or, if later, the 15th day of the third month following the date the
dividends are paid to the holders of the Common Stock), and to exercise all other rights,
powers and privileges of a holder of the Common Stock, with respect to such Shares of
Restricted Stock, with the exception that (a) you shall not be entitled to have custody of
such Shares of Restricted Stock until the Forfeiture Restrictions applicable thereto shall
have lapsed, (b) the Company shall retain custody of all Retained Distributions made or
declared with respect to the Shares of Restricted Stock until such time, if ever, as the
Forfeiture Restrictions applicable to the Shares of Restricted Stock with respect to which
such Retained Distributions shall have been made, paid, or declared shall have lapsed, and
such Retained Distributions shall not bear interest or be segregated in separate accounts and
(c) you may not sell, assign, transfer, pledge, exchange, encumber, or dispose of the Shares
of Restricted Stock or any Retained Distributions during the Restricted Period. During the
Restricted Period, the Company may, in its sole discretion, issue certificates for some or all
of the Shares of Restricted Stock, in which case all such certificates shall be delivered to
the Corporate Secretary of the Company or to such other depository as may be designated by the
Committee as a depository for safekeeping until the forfeiture of such Shares of Restricted
Stock occurs or the Forfeiture Restrictions lapse. When requested by the Company, you shall
execute such stock powers or other instruments of assignment as the Company requests relating
to transfer to the Company of all or any portion of such Shares of Restricted Stock and any
Retained Distributions that are forfeited in accordance with the Plan and this Agreement.

	 
	8.	 	EMPLOYMENT RELATIONSHIP. For purposes of this Agreement, you shall be considered to be in
the employment of the Company Group as long as you have an employment relationship with the
Company Group. The Committee shall determine any questions as to whether and when there has
been a termination of such employment relationship, and the cause of such termination, under
the Plan and the Committee’s determination shall be final and binding on all persons.

	 
	9.	 	SECTION 83(B) ELECTION. You shall not exercise the election permitted under Section 83(b) of
the Code with respect to the Shares of Restricted Stock without the written approval of the
Chief Financial Officer or General Counsel of the Company.

Employee

[Cliff Vesting]—[Graded Vesting]

 

3

 

	10.	 	NOT AN EMPLOYMENT AGREEMENT. This Agreement is not an employment agreement, and no provision
of this Agreement shall be construed or interpreted to create an employment relationship
between you and the Company or any Affiliate or guarantee the right to remain employed by the
Company or any Affiliate for any specified term.

	 
	11.	 	SECURITIES ACT LEGEND. If you are an officer or affiliate of the Company under the
Securities Act of 1933, you consent to the placing on any certificate for the Shares of an
appropriate legend restricting resale or other transfer of the Shares except in accordance
with such Act and all applicable rules thereunder.

	 
	12.	 	REGISTRATION. The Shares that may be issued under the Plan are registered with the
Securities and Exchange Commission under a Registration Statement on Form S-8.

	 
	13.	 	LIMIT OF LIABILITY. Under no circumstances will the Company or any Affiliate be liable for
any indirect, incidental, consequential or special damages (including lost profits) of any
form incurred by any person, whether or not foreseeable and regardless of the form of the act
in which such a claim may be brought, with respect to the Plan.

	 
	14.	 	MISCELLANEOUS. This Agreement is awarded pursuant to and is subject to all of the provisions
of the Plan, including amendments to the Plan, if any. In the event of a conflict between
this Agreement and the Plan provisions, the Plan provisions will control. The term “you” and
“your” refer to the Grantee named in the Agreement. Capitalized terms that are not defined
herein shall have the meanings ascribed to such terms in the Plan or this Agreement.

In accepting the award of Shares of Restricted Stock set forth in this Agreement you accept and
agree to be bound by all the terms and conditions of the Plan and this Agreement.

	 	 	 	 	 
	 

	 	QUANEX BUILDING PRODUCTS CORPORATION	 	 
	 
	 
	 	 	 	 
	 

	 	 

Raymond Jean – Chief Executive Officer
	 	 

Employee

[Cliff Vesting]—[Graded Vesting]

 

4

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