Document:

Exhibit 10.13

 

 

CONSULTING AGREEMENT

 

Quantum-Si Incorporated

530
Old Whitfield St

Guilford CT 06437

 

April 19, 2021     

 

Dr. Michael Mina

 

Dear Dr. Mina:

 

We are pleased that you (“Consultant”)
have agreed to perform consulting services for Quantum-Si Incorporated (the “Company”). This letter is to confirm our understanding
with respect to (i) Consultant rendering services to the Company, (ii) your agreement to protect and preserve information and
property that is confidential and proprietary to the Company or other parties with whom the Company is affiliated or does business, including,
but not limited to, 4Catalyzer Corporation (“4C”) and each of the other companies that has received or currently receives
services from 4C (the terms and conditions agreed to in this letter shall hereinafter be referred to as the “Agreement”).
The companies that currently receive services from 4C are AI Therapeutics, Inc., Hyperfine Research, Inc., Protein Evolution, Inc.,
Detect, Inc., and Tesseract Health, Inc. (such companies herein collectively the “Supported Companies”). In consideration
of the mutual promises and covenants contained in this Agreement, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby mutually acknowledged, we have agreed as follows:

 

1.            Services
of Consultant.

 

(a)          Consultant
agrees to render consulting services to the Company. The principal services will be as the Chief Medical Officer (CMO) of the
Company, and aiding in the specification, development and commercialization of therapeutic and diagnostic products and/or services
relating to the Company’s business. From time to time Consultant and Company shall agree
in writing (via email shall be sufficient) on the requirements and scope of each project, including any deliverables to be provided,
and maximum hours billable for each such project. Each project shall be completed and all deliverables delivered within the agreed
number of hours (any additional hours required shall be performed without additional charge). All materials and documents produced
in connection with Consultant’s services, and all versions thereof, shall be kept in a shared folder maintained by Company.
Company shall provide Consultant with access to such folder for such purpose. In performing consulting services for the Company,
Consultant shall provide consultation at such times and locations as are mutually agreeable to the Company and Consultant. To the
extent that Consultant has employees and/or agents that shall perform services on its behalf in connection with this Agreement,
Consultant shall ensure that all such employees and agents adhere to the terms of this Agreement (as though each such employee or
agent constitutes “Consultant” hereunder). Consultant shall be responsible and liable for any and all breaches of this
Agreement caused by such employees or agents. In connection with Consultant’s performance of services, the Company shall have
the right to publicize Consultant’s affiliation with the Company. Consultant shall use its best efforts in the performance of
the services.

 

    

     

    

 

(b)          Consultant
acknowledges and agrees that it will be an independent contractor for all purposes including, but not limited to, payroll and tax purposes.
Consultant shall not represent itself (or any of its employees or agents) as an employee or officer of the Company.

 

(c)          Consultant
acknowledges and agrees that it currently is not a party to, and during the term of this Agreement it will not enter into, any other,
agreement, arrangement, understanding or other relationship pursuant to which Consultant is obligated to render advice and services to
a commercial entity in the Company’s “Field of Interest.” The term “Field of Interest” with respect to the
Company currently means in vitro biochemistry, including genomics/DNA
sequencing, metabolomics, and proteomics. The Company may modify the definition of its Field of Interest by written notice to Consultant
based on the activities in which the Company is then engaged or in which the Company then proposes to be engaged.

 

2.            Term
of Consulting Arrangement. The term of this Agreement shall commence on April 19, 2021 and shall continue until terminated by
either party providing written notice thereof (the “Term”). The right of the Company or Consultant to terminate this Agreement,
to which Consultant hereby agrees, shall be effective as of the date of such notice or as expressly indicated in such notice.

 

3.            Compensation
for Services. The Company shall pay as the exclusive compensation for the services and
agreements hereunder for $22,500 per month for 60% of full-time service (“FTE”) provided by Consultant, payable
monthly. Additionally, the Company shall grant you a non-qualified option to purchase up to 450,000 shares of the Company’s
common stock vesting monthly (2.778%) over three (3) years beginning on May 31, 2021; provided however that during any
monthly period when Consultant’s commitment to the Corporation is less than 60% FTE, the shares that vest that month will be
reduced proportionately based on the reduction in FTE percentage relative to 60% FTE, and any shares that would have otherwise
vested will be irrevocably forfeited back to the Corporation. The Company will reimburse reasonable out-of-pocket expenses incurred
at the Company’s request from time to time.

 

4.            Continuing
Obligations. Consultant’s obligations and the Company’s obligations under this Agreement other than the provisions of
Section 1 shall not be affected: (i) by any termination of this consulting arrangement, including termination upon the Company’s
initiative; nor (ii) by any change in the nature of the services provided; nor (iii) by any interruption in the consulting arrangement.

 

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 5.            Prohibited Competition.

 

(a)    Certain Acknowledgements and Agreements.

 

(i)    Company
and Consultant have discussed, and Consultant recognizes and acknowledges the competitive and proprietary nature of the Company’s
business operations.

 

(ii)   Consultant
acknowledges and agrees that a business will be deemed competitive with the Company if such business performs any of the services or develops,
manufactures or sells any of the products or services in the Company’s Field of Interest (hereinafter, “Competitive”).

 

(iii)  Consultant
further acknowledges and agrees that, during the course of performing services for the Company, the Company will furnish, disclose or
make available to Consultant, and Consultant may develop, confidential and proprietary information related to the Company’s business.
Consultant also acknowledges that such confidential information has been developed and will be developed by or on behalf of the Company
through the expenditure by the Company of substantial time, effort and money.

 

(b)    Covenants
Not to Compete. Consultant shall not, without the prior written consent of the Company:

 

(i)    during the
Term and for a period of one (1) year after termination thereof, for itself or on behalf of any other person or entity, directly
or indirectly, either as principal, agent, stockholder, employee, consultant, representative or in any other capacity, own, manage, operate
or control, or be concerned, connected or employed by, or otherwise associate in any manner with, engage in or have a financial interest
in any business which is Competitive with the business of the Company within the United States of America (the “Restricted Territory”),
except that nothing contained herein shall preclude Consultant from purchasing or owning securities of any such business if such securities
are publicly traded, and provided that any holdings do not exceed three (3%) percent of the issued and outstanding securities of any class
of securities of such business; or

 

(ii)   during
the Term and for a period of two (2) years after termination thereof, for itself or on behalf of or through any third party, service,
solicit, divert or appropriate or attempt to service, solicit, divert or appropriate, for the purpose of engaging in a business Competitive
with the business of the Company or any present or future parent, subsidiary or other affiliate of the Company which is engaged in a similar
business as the Company, any customers or patrons of the Company, or any prospective customers or patrons with respect to which the Company
has developed or made a sales presentation (or similar offering of services), located within the Restricted Territory; or

 

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(iii)  during
the Term and for a period of two (2) years after termination thereof, for itself or on behalf of or through any third party, directly
or indirectly, solicit, entice or persuade or attempt to solicit, entice or persuade any employees of or consultants to the Company or
any present or future parent, subsidiary or affiliate of the Company to leave the services of the Company or any such parent, subsidiary
or affiliate for any reason or to directly or indirectly hire, employ or retain or offer to hire, employ or retain on behalf of any business
Competitive with the business of the Company any employee of or consultants to the Company or any present or future parent, subsidiary
or affiliate of the Company.

 

(c)    Reasonableness
of Restrictions. Consultant recognizes and acknowledges that (i) the types of services which are prohibited by this Section 5
are narrow and reasonable in relation to the scope of Consultant’s services which represent its principal salable asset both to
the Company and to other prospective purchasers of Consultant’s services, and (ii) the specific but broad geographical scope
of the provisions of this Section 5 is reasonable, legitimate and fair to Consultant in light of the Company’s need to market
its services and sell its products in a large geographic area in order to have a sufficient customer base to make the Company’s
business profitable and in light of the limited restrictions on the type of services prohibited herein compared to the types of services
that Consultant provides.

 

(d)    Survival of Acknowledgements
and Agreements. Consultant’s acknowledgements and agreements set forth in this Section 5 shall survive the expiration
or termination of this Agreement and the termination, for any reason, of consulting services.

 

6.            Protected
Information. Consultant shall at all times, both during the Term and after any termination of this Agreement, maintain in confidence
and shall not, without the prior written consent of the Company, use, except in the course of performing consulting services for the Company,
disclose or give to others any fact or information which was disclosed to or developed by Consultant during the course of performing services
for, or receiving training from, the Company, (or any customer, vendor, or third party in connection with your services to Company, including,
but not limited to, 4C and the Supported Companies), and is not generally available to the public including, but not limited to, this
Agreement, the terms hereof, the fact that Company is working with or has had discussions with you, technical data, trade secrets, know-how,
show-how, research, product plans, products, services, customer lists and customers, markets, software, developments, Inventions
(as defined in paragraph 3), processes, formulas, technology, designs, drawings, engineering, hardware configuration information, marketing,
finances or any other scientific, technical, trade or business information of the Company (or any customer, vendor, or third party in
connection with your services to Company, including, but not limited to, 4C and the Supported Companies) developed by you or disclosed
to you by the Company either directly or indirectly in writing, orally or by drawings or observation (collectively, “Confidential
Information”). Confidential Information shall additionally include, without limitation, the nature and existence of the discussions
and of any relationship between the parties. For the avoidance of doubt, and notwithstanding anything herein to the contrary, Consultant
shall not use or disclose any Confidential Information (including, but not limited to, product information, plans, ideas, designs, features,
functions or specifications) to, or on behalf of, any third party in connection with promotion, marketing, or solicitation of any product,
service or business. Consultant also agrees not to file patents, copyrights or trademark applications based on the Company’s technology,
property or Confidential Information, nor seek to make improvements thereon, without the Company’s approval. Consultant agrees not
to make any copies of such Confidential Information of the Company (except when appropriate for the furtherance of the business of the
Company or duly and specifically authorized to do so) and promptly upon request by the Company, whether during or after the period of
the consulting arrangement, to return to the Company or otherwise dispose of as requested by the Company any and all documentary, machine-readable
or other elements or evidence of such Confidential Information, and any copies that may be in Consultant’s possession or control.
In the event Consultant is questioned by anyone not employed by the Company or by an employee of or a consultant to the Company not authorized
to receive such information, in regard to any such information or any other secret or confidential work of the Company, or concerning
any fact or circumstance relating thereto, Consultant will promptly notify the President of the Company.

 

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Consultant shall label all documents that contain
Company’s confidential and/or proprietary information as follows (with no additional confidentiality or intellectual property notices):

 

Quantum-Si Confidential & Proprietary

Copyright © [year] Quantum-Si Incorporated

 

		7.	Ownership of Ideas, Copyrights and Patents.

 

(a)     Property of the
Company. All ideas, discoveries, creations, manuscripts and properties, innovations, improvements, know-how, show-how, inventions
(whether patentable or not), designs, trade secrets, developments, apparatus, techniques, methods, software, source and object code, technology,
biological processes, cell lines, laboratory notebooks and formulas in or related to the Field of Interest, whether or not reduced to
practice and whether or not patentable or copyrightable, which were or may be conceived, reduced to practice or developed during the Term
or any other time during which Consultant is providing services to the Company or with the assistance of financial or other support from
the Company (or if involving Confidential Information, conceived or developed during or after the Term) by Consultant, whether or not
in conjunction with another or others, whether or not during business hours, and whether at the request or upon the suggestion of the
Company or otherwise, (all of the foregoing, as well as any related improvements, modifications or derivatives thereof, being hereinafter
referred to as the “Inventions”), shall be the sole and exclusive property of the Company. To the maximum extent permitted
by law, the Inventions referred to in the prior sentence will be deemed “works made for hire” as the term is used in the United
States Copyright Act. Consultant hereby assigns to the Company all worldwide right, title and interest in and to all of the Inventions,
and all intellectual property rights therein, including the right to sue for and recover for past infringement. All Inventions shall constitute
the Confidential Information of the Company, subject to the protections set forth in Section 6 of this Agreement. Consultant represents
and warrants that it will conduct all services for or relating to the Company using its and/or Company’s equipment and resources
(and no equipment or resource of any kind owned by any other person or business), such that any Inventions developed in connection with
Consultant services to the Company shall be owned exclusively by the Company. Consultant agrees to maintain and furnish to the Company
complete and current records of all such Inventions and to disclose to the Company in writing all such Inventions. Promptly after Company’s
request, Consultant shall provide to the Company in writing a full, signed statement of all Inventions in which Consultant has participated.

 

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(b)         Cooperation.
At any time during or after the Term, Consultant agrees that it will fully cooperate with the Company its attorneys and agents, and the
Company will compensate Consultant for time, effort and work in this regard during or after the Term as agreed to in Section 3 of
this Agreement or as otherwise agreed by the Parties, in the preparation and filing of all papers and other documents as may be required
to perfect the Company’s rights in and to any of such Inventions, including, but not limited to, promptly providing any facts or
documents requested by Company pertaining to the Inventions, and joining in any proceeding to obtain letters patent, copyrights, trademarks
or other legal rights of the United States and of any and all other countries on such Inventions, provided that the Company will bear
the expense of such proceedings, and that any patent or other legal right so issued to Consultant shall be assigned by Consultant to
the Company without charge. Consultant hereby designates the Company as its agent, and grants to the Company a power of attorney with
full power of substitution (which power of attorney shall be deemed coupled with an interest), for the purpose of effecting the foregoing
assignments to the Company.

 

8.            Disclosure
to Third Parties. Consultant agrees that Company may provide in its discretion, a copy of the covenants contained in Sections 1c,
5, 6 and 7 of this Agreement to any business or enterprise which Consultant may directly, or indirectly, own, manage, operate, finance,
join, control or in which Consultant participates in the ownership, management, operation, financing or control, or with which Consultant
may be connected as an officer, director, employee, partner, principal, agent, representative, consultant or otherwise.

 

9.            Records.
Promptly after Company’s request, Consultant shall deliver to the Company or otherwise dispose of as requested by the Company any
property of the Company which may be in Consultant’s possession including, but not limited to, all products, materials, memoranda,
notes, keys, laboratory notebooks, records, data, reports, or documents, or copies of any of the foregoing.

 

10.          No
Conflicting Agreements. Consultant hereby represents and warrants that it has no commitments or obligations inconsistent with this
Agreement. Consultant hereby agrees to indemnify and hold the Company harmless against any loss, damage, liability or expense arising
from any claim based upon circumstances alleged to be inconsistent with such representation and warranty. During the term of this Agreement,
Consultant will not enter into any agreement, either written or oral, which may conflict with this Agreement, and Consultant will arrange
to provide services under this Agreement in such a manner and at such times that such services will not conflict with Consultant’s
obligations under any other agreement, arrangement, understanding, or relationship that Consultant may have with any third party.

 

11.          Independent
Contractors. This Agreement does not constitute, and shall not be construed as constituting, an undertaking by the Company to hire
Consultant (or any employee or agent thereof) as an employee of the Company. Consultant acknowledges that it will be working as an independent
contractor only. Consultant will not be entitled to receive any of the benefits provided by the Company to its employees, and Consultant
will be solely responsible for the payment of all federal, state and local taxes and contributions imposed or required on income, unemployment
insurance, social security and any other law or regulation.

 

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12.          General.

 

(a)    Notices. All
notices, requests, consents and other communications hereunder shall be in writing, shall be addressed to the receiving party’s
address set forth below or to such other address as a party may designate by notice hereunder, and shall be either (i) delivered
by hand, (ii) sent by electronic internet mail, email, with a reply acknowledgement by recipient, (iii) sent by overnight courier,
or (iv) sent by registered mail, return receipt requested, postage prepaid:

 

	If to the Company:	Quantum-Si Incorporated
	 	530 Old Whitfield St
	 	Guilford CT 06437
	 	Attn: Legal Dept.
	 	 
	If to Consultant:	At the address set forth on the last page of this Agreement.

 

All notices, requests, consents and other communications
hereunder shall be deemed to have been given either (i) if by hand, at the time of the delivery thereof to the receiving party at
the address of such party set forth above, (ii) if made by email, at the time that receipt thereof has been acknowledged by electronic
confirmation or otherwise, (iii) if sent by overnight courier, on the next business day following the day such notice is delivered
to the courier service, or (iv) if sent by registered mail, on the fifth business day following the day such mailing is made.

 

(b)    Entire Agreement.
This Agreement embodies the entire agreement and understanding between the parties hereto with respect to the subject matter hereof and
supersedes all prior oral or written agreements and understandings relating to the subject matter hereof. No statement, representation,
warranty, covenant or agreement of any kind not expressly set forth in this Agreement shall affect, or be used to interpret, change or
restrict, the express terms and provisions of this Agreement.

 

(c)    Modifications and
Amendments. The terms and provisions of this Agreement may be modified or amended only by written agreement executed by the parties
hereto.

 

(d)    Waivers and Consents.
The terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only by written document executed
by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be deemed to be or shall constitute
a waiver or consent with respect to any other terms or provisions of this Agreement, whether or not similar. Each such waiver or consent
shall be effective only in the specific instance and for the purpose for which it was given, and shall not constitute a continuing waiver
or consent.

 

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(e)    Assignment.
The Company may assign its rights and obligations hereunder to any person or entity who succeeds to all or substantially all of the Company’s
business or that aspect of the Company’s business in which Consultant is principally involved. Consultant’s rights and obligations
under this Agreement may not be assigned without the prior written consent of the Company.

 

(f)     Benefit. All
statements, representations, warranties, covenants and agreements in this Agreement shall be binding on the parties hereto and, in the
case of the Company, its parents, subsidiaries and other affiliates; and shall inure to the benefit of the respective successors and permitted
assigns of each party hereto. Nothing in this Agreement shall be construed to create any rights or obligations except among the parties
hereto, and no person or entity shall be regarded as a third-party beneficiary of this Agreement.

 

(g)    Governing Law.
This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and governed by the law
of the Connecticut, without giving effect to the conflict of law principles thereof or any other state.

 

(h)    Dispute Resolution.

 

(i)     Any controversy,
dispute or claim arising out of, related to or in connection with this Agreement that is not resolvable in a reasonable amount of time
by diligent negotiation of the Parties to this Agreement shall be submitted for resolution to the exclusive jurisdiction of the United
States District Court for the District of Connecticut sitting in New Haven County, or if that court is unable to exercise jurisdiction
for any reason, the Connecticut State Courts sitting in New Haven County.

 

(ii)    Company and Consultant each hereby irrevocably consent to the service of process in any lawsuit brought under this Agreement by
delivery by hand to a party’s address set forth in Section 12(a) or by mailing copies thereof by certified mail, postage
prepaid, to the party at its address set forth in Section 12(a).

 

(iii)   Company and Consultant
each hereby irrevocably consent to the exclusive jurisdiction of the United States District Court for the District of Connecticut and
the Connecticut state courts sitting in New Haven County. Accordingly, with respect to any such court action, the Company and Consultant
each hereby: (A) submit to the personal jurisdiction of these courts; (B) waive any other requirement (whether imposed by statute,
rule of court, or otherwise) with respect to personal jurisdiction or service of process; and (C) waive any objection to jurisdiction
based on improper venue, improper jurisdiction, inconvenient forum, violation of public policy or any other basis.

 

(iv)  Consultant and
the Company each hereby expressly acknowledge that any breach or threatened breach of any of the terms and/or conditions set forth in
Section 3, 5, 6 or 7 of this Agreement will result in substantial, continuing and irreparable injury to the non-breaching party.
Therefore, in addition to any other relief to which the non-breaching party may be entitled, Consultant and the Company each hereby agree
that the non-breaching party shall be entitled to temporary, preliminary and permanent injunctive or other equitable relief in the event
of any breach or threatened breach of the terms of Section 3, 5, 6 or 7 of this Agreement, without the need to post any bond.

 

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(i)   Severability.
The parties intend this Agreement to be enforced as written. However, (i) if any portion or provision of this Agreement shall to
any extent be declared illegal or unenforceable by a duly authorized court having jurisdiction, then the remainder of this Agreement,
or the application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable,
shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent
permitted by law; and (ii) if any provision, or part thereof, is held to be unenforceable because of the duration of such provision
or the geographic area covered thereby, the Company and Consultant agree that the court making such determination shall have the power
to reduce the duration and/or geographic area of such provision, and/or to delete specific words and phrases (“blue-penciling”),
and in its reduced or blue-penciled form such provision shall then be enforceable and shall be enforced.

 

(j)   Headings and Captions.
The headings and captions of the various subdivisions of this Agreement are for convenience of reference only and shall in no way modify,
or affect the meaning or construction of any of the terms or provisions hereof.

 

(k)  No Waiver of Rights,
Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or remedy under this Agreement, and no course
of dealing between the parties hereto, shall operate as a waiver of any such right, power or remedy of the party. No single or partial
exercise of any right, power or remedy under this Agreement by a party hereto, nor any abandonment or discontinuance of steps to enforce
any such right, power or remedy, shall preclude such party from any other or further exercise thereof or the exercise of any other right,
power or remedy hereunder. The election of any remedy by a party hereto shall not constitute a waiver of the right of such party to pursue
other available remedies. No notice to or demand on a party not expressly required under this Agreement shall entitle the party receiving
such notice or demand to any other or further notice or demand in similar or other circumstances or constitute a waiver of the rights
of the party giving such notice or demand to any other or further action in any circumstances without such notice or demand.

 

[REMAINDER OF PAGE BLANK]

 

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(l)   Counterparts.
This Agreement may be executed in one or more counterparts, and by different parties hereto on separate counterparts, each of which shall
be deemed an original, but all of which together shall constitute one and the same instrument.

 

If the foregoing accurately
sets forth our agreement, please so indicate by signing and returning to us the enclosed copy of this letter.

 

	 	Very truly yours,
	 	Quantum-Si Incorporated
	 	 	 
	 	By: 	/s/ John Stark
	 	Name: 	John Stark
	 	Title: 	Chief Executive Officer

 

	Accepted and Agreed:	 
	 	 	 
	By: 	/s/ Michael Mina	 
	Name: 	Dr. Michael Mina	 

	Address:	 	 
	 	 	 
	 	 	 

 

    10Exhibit 10.1

 

SECOND AMENDED AND RESTATED EXECUTIVE AGREEMENT

 

 

This Second Amended and Restated Executive Agreement
(“Agreement”) between Huttig Building Products, Inc., a Delaware corporation, with its principal office located at 555 Maryville
University Drive, Suite 400, St. Louis, Missouri 63141, (the “Company”) and Jon Vrabely (“Executive”) is
effective as of the 10th day of May, 2021 (the “Effective Date”).

 

WHEREAS, the Company and Executive entered into that
certain Amended and Restated Executive Agreement, effective as of March 16, 2016 (as amended from time to time, the “Original Agreement”),
that set for the terms of Executive’s employment as the Company’s President and Chief Executive Officer;

 

WHEREAS, the Company and Executive wish to amend and
restate the Original Agreement for the purpose of amending the terms and conditions of Executive’s employment with the Company;

 

NOW, THEREFORE, in consideration of the mutual covenants
set forth in this Agreement, the parties hereto agree that the Original Agreement is amended and restated as follows effective as of the
Effective Date:

 

1.                 
Employment. Effective as of the Effective Date, the Company shall continue to employ Executive as its President and
Chief Executive Officer (“CEO”), and, Executive agrees to be employed by the Company in such capacity, subject to the terms
and conditions of this Agreement. In Executive's capacity as President and CEO, he shall render such services as are consistent with such
position and shall report directly to the Company’s Board of Directors (the “Board”). During the Term (as defined below),
Executive shall devote all of his working time and efforts to the business and affairs of the Company and its subsidiaries and shall not
engage in activities that interfere in any way with such performance.

 

2.                 
Term of Employment. If not earlier terminated in accordance with the terms of this Agreement, Executive’s employment
under this Agreement shall begin as of the Effective Date and shall continue through December 31, 2021 (the “Original Term”).
Beginning January 1, 2022 and on each subsequent anniversary thereafter, the Original Term shall be automatically extended for one additional
year (each such one-year extension a “Renewal Term”) unless either the Company or Executive provides written notice to the
other of non-renewal not later than ninety (90) days prior to any such anniversary date. The Original Term and any Renewal Term(s) are
collectively referred to herein as the “Term.” Notwithstanding the foregoing, the Term shall be extended and this Agreement
shall remain in effect during the Protected Period (as defined in Paragraph 4(d)(i) below).

 

3.                 
Compensation and Benefits.

 

(a)              
Base Compensation.

 

(i)                
In general, for all services rendered by Executive under this Agreement on behalf of the Company, the Company shall pay to Executive
a base salary of Six Hundred and Thirty Thousand and No/100 Dollars ($630,000). Such salary will be reviewed on an annual basis and may
be increased from time to time by the Board, payable in accordance with the Company’s normal payroll practices, and such salary
cannot be decreased at any time without the prior written consent of Executive.

 

     

     

    

(ii)             
In no way limiting the foregoing, at all times during the Protected Period, Executive’s annual base salary shall be at least
equal to twelve times the highest monthly base salary paid or payable to Executive by the Company during the twelve-month period immediately
preceding the month in which the Protected Period Effective Date occurs.

 

(iii)           
In this Agreement, “Base Salary” shall be as determined in accordance with Paragraph 3(a)(i) or 3(a)(ii), as applicable.

 

(b)              
Long-Term Incentive Compensation Awards. On an annual basis, Executive will be eligible to receive one or more awards (the
“LTI Awards”) granted under the 2005 Executive Incentive Compensation Plan Fourth Amendment and Restatement Effective April
27, 2015, as the same may be amended from time to time (or any successor plan thereto) (the “Incentive Plan”). Such annual
LTI Awards shall have an aggregate targeted value equal to not less than 100% of Executive’s then current Base Salary, may be cash-based
or stock-based, may be time-vesting or performance-vesting, and shall be subject to Board adjustment and approval.

 

(c)              
Annual Incentive Compensation. For each fiscal year of the Company during the Term, Executive shall have the opportunity
to earn an annual lump sum cash incentive award targeted at not less than 100% of Executive’s then current base salary, subject
to Board adjustment and approval. Such annual incentive award opportunity shall be determined under the annual incentive award design
adopted each year by the Board under the Incentive Plan. Such annual incentive award is referred to herein as the “Annual Bonus.”

 

(d)              
Annual Discretionary Defined Contribution Deferred Compensation Plan. The Company previously established in 2016 a discretionary
defined contribution non-qualified deferred compensation plan (the “DC Plan”) that includes the following features:

 

(i)                
Annual Contributions. For
each calendar year during the Term, the Company will credit Executive's account under the DC Plan with an annual discretionary Company
contribution in an amount targeted between $100,000 and $300,000, but subject to adjustment based on Company and individual performance
as determined by the Board.

 

(ii)                
Vesting. The account will
vest in full on the 7th anniversary of the DC Plan (i.e., January 1, 2023), subject to Executive’s continued employment with the
Company. See Paragraphs 4(a) and (b) for additional vesting provisions in case of termination of employment before that date.

 

    	 	-2-	 

     

    

(iii)                
Payment Provisions. Vested
balances will be payable in a lump sum as soon as practicable, but not more than 90 days following Executive's separation from service
with the Company, subject to the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”).

 

(iv)                
Account Adjustments. During
the deferral period, balances in the account will be adjusted with deemed investment returns based on Executive's selection from a menu
of available deemed investment choices selected by the Board.

 

(e)              
Vacation and Other Benefit Plans and Arrangements. Executive shall be entitled to participate in such other vacation and
benefit plans and arrangements as may be offered by the Company to similarly situated executive officers of the Company; provided that,
nothing contained herein shall or shall be deemed to require the Company to develop or continue to maintain any particular plan or arrangement.
Subject to qualification, Executive shall also be entitled to participate in a supplemental executive life insurance and disability insurance
plan with benefits of three times his Base Salary upon death and providing supplemental income in the event of disability.

 

(f)               
Automobile. During the Term, the Company shall lease on Executive’s behalf an automobile, in accordance with the Company’s
standard practices and procedures at the time of this Agreement.

 

4.                 
Termination.

 

(a)              
Termination, In General. This Agreement may terminate prior to the end of the Term specified in Paragraph 2 above for any
reason, including upon Executive’s death or Disability (as defined in Paragraph 4(d)(v)). The provisions of this Paragraph 4(a)
shall apply prior to the Protected Period Effective Date (defined below), and payments and benefits provided under this Paragraph 4(a)
shall be in lieu of any payment or benefit provided under Paragraph 4(b). In the event of a termination for any reason, the Company shall
pay to Executive (or his estate, in the event of his death) upon the Termination Date all amounts of accrued and owing compensation, including
(A) Base Salary through the Termination Date (payable on the first regular payroll date on or after the Termination Date), (B) any Annual
Bonus or performance-based LTI Awards to the extent earned and payable based on performance for the prior year but not yet paid as of
the Termination Date (payable no later than March 15 of the year of the Termination Date), (C) accrued but unpaid or unused vacation due
Executive per the Company’s vacation policy, or as may be required under applicable law (payable on the first regular payroll date
on or after the Termination Date), (D) timely submitted expense reimbursements accrued and owing as of the Termination Date, and (E) any
vested benefits or entitlements under any employee benefit plans of the Company in which the Executive participates (e.g., vested 401(k)
plan balances, vested balances under the DC Plan, rights to COBRA continuation coverage under group medical plans, supplemental executive
life insurance and disability insurance plan benefits, etc.), subject to the terms and conditions of such plans (collectively, the “Accrued
Obligations”). In addition, outstanding, unvested LTI Awards shall be subject to the following vesting conditions: (x) for any time-vesting
LTI Awards, accelerated vesting shall be as provided in Paragraphs 4(a)(i) and (ii) and Paragraph 4(b) below; and (y) for any performance-based
LTI Awards for which performance during the applicable performance period has not yet been completed, regardless of the reason for termination,
each respective performance-based LTI Award shall be calculated for performance results measured through the Termination Date (or the
most recently preceding date for which such performance is readily measurable) and such performance results shall be projected at the
same rate of performance for the entire performance period applicable to such LTI Award to calculate the total payout of the LTI Award.
Following the application of the vesting conditions described in the preceding sentence, such outstanding LTI Awards shall be settled
and paid in a single lump sum payment as soon as practicable, and not more than 30 days, following the Termination Date. Payments made
pursuant to this Paragraph 4(a) shall be in lieu of, and non-duplicative of, payments under any other agreement between Executive and
the Company. This paragraph shall survive termination of this Agreement.

 

    	 	-3-	 

     

    

(i)                
Termination as a Result of Death or Disability. If Executive’s employment is terminated by reason of Executive’s
death or Disability, in addition to the Accrued Obligations:

 

(1)              
Executive or his beneficiary or estate (as the case may be) shall be paid a pro rata Annual Bonus in the amount equal to the product
of (A) the Average Annual Bonus and (B) a fraction, the numerator of which is the number of days in the then current fiscal year through
the Termination Date, and the denominator of which is 365. Such amount shall be payable in a single lump sum cash payment as soon as practicable,
and not more than 30 days, following the Termination Date due to death or Disability; plus

 

(2)              
With respect to outstanding, unvested LTI Awards, (A) time-vesting LTI Awards shall become immediately and fully vested, and (B)
performance-based LTI Awards shall vest (without proration) based on actual and projected performance as provided in Paragraph 4(a), in
each case, with settlement to occur in a single lump sum payment as soon as practicable, and not more than 30 days, following the Termination
Date; plus

 

(3)              
Any unvested portion of Executive’s balance in the DC Plan shall become fully vested.

 

For purposes of this Agreement, the “Average
Annual Bonus” shall be the average bonus paid or payable to Executive by the Company and its affiliated companies in respect of
the three fiscal years immediately preceding the fiscal year in which the termination occurs.

 

(ii)             
Termination by the Company Without Cause. If the Company terminates Executive’s employment without Cause, or fails
to renew Executive’s employment at the end of the Original Term or any Renewal Term for reasons that do not constitute Cause, in
exchange for a release of all claims Executive may have against the Company, its affiliates, and its or their officers, directors, employees
and agents, in addition to the Accrued Obligations:

 

    	 	-4-	 

     

    

(1)              
Executive shall receive an amount equal to (A) two times Executive’s then current Base
Salary plus (B) two times the Average Annual Bonus (the “Severance Payment”); plus

 

(2)              
Executive shall be paid a pro rata Annual Bonus based on the Company’s actual performance through the Termination Date (or
the most recently preceding date for which such performance is readily measurable). Such amount shall be payable in a single lump sum
cash payment as soon as practicable, and not more than 30 days, following the Termination Date; plus

 

(3)              
With respect to outstanding, unvested LTI Awards, (A) time-vesting LTI Awards shall become immediately and fully vested, and (B)
performance-based LTI Awards shall vest (without proration) based on actual and projected performance as provided in Paragraph 4(a), in
each case, with settlement to occur in a single lump sum payment as soon as practicable, and not more than 30 days, following the Termination
Date; plus

 

(4)              
Executive shall receive an amount equal to two years of COBRA premiums based on the terms of Company’s group health plan
and Executive’s coverage under such plan as of the Termination Date (regardless of any COBRA election actually made by Executive
or the actual COBRA coverage period under Company’s group health plan) (the “COBRA Payment”); plus

 

(5)              
 Any unvested portion of Executive’s balance in the DC Plan shall become fully vested.

 

The Severance Payment shall be paid to Executive
in 24 equal monthly installments beginning on the first regularly scheduled payroll date occurring on or immediately after the 30th
day following the Termination Date (or the 60th day after the Termination Date if the Company determines that the Executive is required
by law to have a 45-day period to consider any release of claims as provided below) (the “First Payment Date”). Any Severance
Payment that would otherwise have been paid prior to the First Payment Date shall be paid on the First Payment Date. In addition, the
COBRA Payment shall be made in a single lump sum on the First Payment Date. Payment of the Severance Payment, COBRA Payment and pro rata
Annual Bonus are each conditioned on Executive signing a release as required by this Paragraph 4(a)(ii) and such release becoming irrevocable
on or before the First Payment Date.

 

    	 	-5-	 

     

    

(iii)           
Termination by the Company for Cause; Voluntary Termination by Executive. If Executive’s employment shall be terminated
by the Company for Cause or by Executive for any reason, this Agreement shall terminate without further obligations to Executive other
than payment of (A) the Accrued Obligations and (B) performance-based LTI Awards based on actual and projected performance as provided
in Paragraph 4(a), with settlement of such performance-based LTI Awards to occur in a single lump sum payment as soon as practicable,
and not more than 30 days, following the Termination Date.

 

(iv)            
Definition of Cause. For purposes of this Agreement, “Cause” is defined as (i) personal dishonesty or breach
of fiduciary duty resulting in Executive gaining, or attempting to gain, personal profit at the expense of the Company; (ii) repeated
failure of Executive to perform his duties hereunder which are demonstrably willful and deliberate on his part and which are not remedied
in a reasonable period of time after receipt of written notice from the Company; (iii) the commission of a criminal act related to the
performance of duties, or the furnishing of proprietary confidential information about the Company to a competitor, or potential competitor,
or third party whose interests are adverse to those of the Company; (iv) intoxication by alcohol or drugs during work hours while performing
work functions for the Company; (v) conviction of a felony; or (vi) any breach of any material Company policy or any material term of
this Agreement or any other agreement by and between Executive and the Company after written notice of the detailed nature of said breach
and the opportunity to cure said breach (if curable) within 30 days of receipt of written notice.

 

(b)              
Termination During the Protected Period. The provisions of this Paragraph 4(b) shall apply on and after the Protected Period
Effective Date (defined below) and shall remain in effect during the Protected Period, and payments and benefits provided under this Paragraph
4(b) shall be in lieu of any payment or benefit provided under Paragraph 4(a). If Executive’s employment terminates after the Protected
Period Effective Date, the following shall apply:

 

(i)                
Death or Disability. If Executive’s employment is terminated by reason of Executive’s death or Disability during
the Protected Period, Executive or his beneficiary or estate (as the case may be) shall receive the same compensation and benefits as
provided in Paragraph 4(a)(i) above.

 

(ii)             
Termination by the Company For Cause; Other Than for Good Reason. If Executive’s employment shall be terminated by
the Company for Cause or by Executive without Good Reason during the Protected Period, this Agreement shall terminate without further
obligations to Executive other than (A) the Accrued Obligations and (B) performance-based LTI Awards shall vest (without proration) based
on actual and projected performance as provided in Paragraph 4(a).

 

(iii)           
Termination by the Company Without Cause or for Good Reason. If Executive terminates his employment for Good Reason or his
employment is terminated by the Company without Cause during the Protected Period, Executive shall receive, in addition to the Accrued
Obligations:

 

    	 	-6-	 

     

    

(1)              
To the extent not theretofore paid as part of the Accrued Obligations, Executive’s Highest Base Salary through the Termination
Date. Highest Base Salary is defined as the highest Base Salary paid to Executive in any single month during the 24 months immediately
prior to the Termination Date; plus

 

(2)              
A pro rata Annual Bonus in the amount of the product of (x) the greater of the Annual Bonus paid or payable (annualized for any
fiscal year consisting of less than twelve full months or for which Executive has been employed for less than twelve full months) to Executive
for the most recently completed fiscal year during the Employment Period, if any, or the Average Annual Bonus, and (y) a fraction, the
numerator of which is the number of days in the current fiscal year through the Termination Date, and the denominator of which is 365;
plus

 

(3)              
With respect to outstanding, unvested LTI Awards, (A) time-vesting LTI Awards shall become immediately and fully vested, and (B)
performance-based LTI Awards shall vest (without proration) based on actual and projected performance as provided in Paragraph 4(a), in
each case, with settlement to occur in a single lump sum payment as soon as practicable, and not more than 30 days, following the Termination
Date; plus

 

(4)              
An amount equal to (A) three times the Executive’s Highest Base Salary, plus (B) three times the Average Annual Bonus; plus

 

(5)              
Any unvested portion of Executive’s balance in the DC Plan shall become fully vested; plus

 

(6)              
An amount equal to three years of COBRA premiums based on the terms of Company’s group health plan and Executive’s
coverage under such plan as of the Termination Date (regardless of any COBRA election actually made by Executive or the actual COBRA coverage
period under Company’s group health plan); plus

 

(7)              
The Company shall, at its sole expense as incurred, provide Executive with outplacement services the scope and provider of which
shall be selected by the Executive in his sole discretion, provided, in no event shall such outplacement services cost more than $25,000.

 

All such payments under clauses (1), (2), (4),
and (6) of this Paragraph 4(b)(iii) shall be paid to Executive in a lump sum in cash on the First Payment Date; provided that Executive
has signed a release of all claims and such release has become irrevocable on or before the payment date; provided, however,
that amounts determined under clause (4) shall be payable in thirty-six equal monthly installments for any termination of employment during
the Protected Period that occurs either before the date of the Change in Control or more than 24 months after the date of the Change in
Control, to the extent necessary to comply with the requirements of Section 409A of the Code, provided further, that in case of a Termination
Date during the Protected Period but before the date of the Change in Control, any remaining unpaid installments shall be payable in a
lump sum upon the closing of a Change in Control (in each case, only if the Change in Control is a “change in control event”
within the meaning of Section 409A of the Code).

 

    	 	-7-	 

     

    

(c)              
Section 409A. Notwithstanding any other provision to the contrary, with respect to the timing of payments under Paragraph
4(a) or 4(b), if, at the time of Executive’s termination, Executive is deemed to be a “specified employee” (within the
meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and any successor statute, regulation
and guidance thereto) of the Company, then only to the extent necessary to comply with the requirements of Code Section 409A, any payments
to which Executive may become entitled under Paragraph 4(a) or 4(b) which are subject to Code Section 409A (and not otherwise
exempt from its application) will be withheld until the first business day of the seventh month following the termination of Executive’s
employment, at which time Executive shall be paid an aggregate amount of payments otherwise due to the Executive under the terms
of Paragraph 4(a) or 4(b) for the preceding 6-month period, as applicable. Each separate payment in the series of separate payments shall
be analyzed separately for purposes of determining whether such payment is subject to, or exempt from compliance with, the requirements
of Code Section 409A.

 

(d)              
Definitions.

 

(i)                
Protected Period, Protected Period Effective Date. The “Protected Period” shall begin on the closing date of
a transaction constituting a Change in Control (defined below) (the “Protected Period Effective Date”) and ending upon the
first to occur of: (i) the date that is 36 months from the Protected Period Effective Date; or (ii) the first day of the month next following
Executive’s normal retirement date under the Huttig Building Products, Inc. Savings & Investment Plan, or any successor retirement
plan; provided that, if Executive’s employment with the Company is terminated prior to the date on which a Change in Control occurs,
and it is reasonably demonstrated that such termination (A) was at the request of a third party who has taken steps reasonably calculated
to effect a Change in Control or (B) otherwise arose in connection with or anticipation of a Change in Control, then for all purposes
of this Agreement, and specifically without limitation, the “Protected Period Effective Date” shall mean the date immediately
prior to the date of Executive’s termination.

 

(ii)             
Cause. Cause during the Protected Period shall have the same meaning as set forth in Paragraph 4(a)(iv) above.

 

(iii)           
Good Reason. “Good Reason” means Executive’s good faith determination that any of the following has occurred:

 

    	 	-8-	 

     

    

(1)              
Executive’s Base Salary is (A) less than twelve times the highest monthly base salary paid or payable to him by the Company
during the twelve-month period immediately preceding the month in which the Protected Period Effective Date occurs, (B) not reviewed at
least annually or has not been increased at any time and from time to time in a manner substantially consistent with increases in base
salary awarded in the ordinary course of business to other key employees of the Company and its subsidiaries, or (C) is reduced after
any such increase;

 

(2)              
Executive is not eligible to receive, an annual bonus (either pursuant to any incentive compensation plan maintained by the Company
or otherwise) in cash on the same basis as in the fiscal year immediately preceding the fiscal year in which the Protected Period Effective
Date occurs or, if more favorable to Executive, on the same basis as awarded at any time thereafter to other key employees of the Company
and its subsidiaries;

 

(3)              
The Company fails to offer to Executive (and his eligible spouse and dependents, as applicable) incentive, savings and retirement
plans, practices, policies and programs as may be applicable to other key employees of the Company and its subsidiaries and welfare benefit
plans and policies (including, without limitation, medical, prescription, dental, disability, salary continuance, employee life, group
life, accidental death and travel accident insurance plans and programs), which shall provide Executive (and his eligible spouse and dependents)
with compensation, benefits and reward opportunities, and welfare benefits, as applicable, at least as favorable in the aggregate as the
most favorable of such compensation, benefits and reward opportunities and welfare benefits as provided by the Company for Executive (and
his spouse and dependents, as applicable) under such plans, practices, policies and programs as in effect at any time during the 90-day
period immediately preceding the Protected Period Effective Date or, if more favorable to Executive, as provided at any time thereafter
with respect to other key employees of the Company and its subsidiaries;

 

(4)              
The Company does not provide (A) prompt reimbursement for reasonable expenses, (B) paid vacation, (C) fringe benefits, including
use of an automobile and payment of related expenses, or (D) provide an office or offices of a size and with furnishings and other appointments,
and to secretarial and other assistance, at least equal in all cases to the most favorable of the foregoing provided under any policies
or practices, or provided to Executive by the Company and its subsidiaries at any time during the 90-day period immediately preceding
the Protected Period Effective Date or, if more favorable to Executive, as provided at any time thereafter with respect to other key employees
of the Company and its subsidiaries;

 

    	 	-9-	 

     

    

(5)              
The assignment of Executive of any duties inconsistent in any respect with Executive’s position (including status, offices,
titles and reporting requirements), authority, duties or responsibilities as they were constituted at any time during the 90-day period
immediately preceding the Protected Period Effective Date, or any other action by the Company which results in a diminution in such position,
authority, duties or responsibilities;

 

(6)              
The Company requires Executive to perform his services at a location other than where he was employed immediately preceding the
Protected Period Effective Date or any office or location more than thirty-five (35) miles from such location, except for travel
reasonably required in the performance of Executive’s responsibilities;

 

(7)              
Any purported termination by the Company of Executive’s employment otherwise than as expressly permitted by this Agreement;
or

 

(8)              
Any failure by the Company to comply with and satisfy Paragraph 10 of this Agreement.

 

Notwithstanding the foregoing, for purposes
of items (1) – (5) above there shall be excluded from the definition of “Good Reason” any isolated, insubstantial and
inadvertent failure not occurring in bad faith and which is remedied by the Company within 30 days after receipt of notice thereof given
by Executive. Failures occurring more than once per calendar year shall not be considered isolated, insubstantial or inadvertent under
this Paragraph. Any good faith determination of “Good Reason” made by Executive shall be conclusive for purposes of this Paragraph
and shall not be contested by the Company; provided (i) Executive gives the Company notice of such failure within 60 days of its occurrence,
(ii) the Company does not cure such failure within 30 days, and (iii) Executive terminates within 30 days of the Company’s failure
to cure.

 

(iv)            
Change in Control. “Change in Control” means, and shall be deemed to have occurred upon, the first to occur
of any of the following events: (a) the first purchase of shares pursuant to a tender offer or exchange offer (other than a tender
offer or exchange offer by the Company) for all or part of the shares of the common stock of the Company (“Shares”) or any
securities convertible into such Shares, (b) the receipt by the Company of a Schedule 13D or other notice indicating that a person
is the “beneficial owner” (as that term is defined in Rule 13d-3 under the Exchange Act) of 20% or more of the Shares calculated
as provided in paragraph (d) of said Rule 13d-3, (c) the date of consummation of any merger, reorganization, consolidation,
share exchange, transfer of assets or other transaction having similar effect involving the Company (“Business Transaction”)
in which the Company will not be the continuing or surviving corporation or pursuant to which Shares would be converted into cash, securities
or other property, other than a Business Transaction in which the holders of the Shares immediately prior to the Business Transaction
would own more than 50% of the common stock of the surviving corporation immediately after the Business Transaction, (d) the date
of consummation of any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all or substantially
all the assets of the Company, (e) the adoption of any plan or proposal for the liquidation (but not a partial liquidation) or dissolution
of the Company, or (f) the date upon which the individuals who constitute the Board as of the Restatement Effective Date of the Incentive
Plan (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board, provided that any person
becoming a director subsequent to such date whose election, or nomination for election by the Company’s stockholders, was approved
by a vote of at least three-quarters of the directors comprising the Incumbent Board (other than an election or nomination of an individual
whose initial assumption of office is in connection with an actual or threatened election contest relating to the election of the Directors
of the Company) shall, for purposes of this Plan, be considered as though such person were a member of the Incumbent Board. For purposes
of this Agreement, in all respects, the definition of “Change in Control” hereunder shall be interpreted, and limited to the
extent necessary, to comply with Code Section 409A, and the provisions of Treasury Notice 2005-1, Proposed Treasury Regulation Section
1.409A and any successor statute, regulation and guidance thereto.

 

    	 	-10-	 

     

    

(v)              
Disability. “Disability” means

 

(1)              
Executive is unable to perform the essential functions of his position without reasonable accommodation by reason of any medically
determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period
of not less than 6 months; or

 

(2)              
Executive is, by reason of any medically determinable physical or mental impairment that can be expected to result in death or
can be expected to last for a continuous period of not less than 6 months, receiving income replacement benefits for a period of not less
than 3 months under an accident and health plan covering employees of the Company.

 

(3)              
This definition of Disability applies to the entire Agreement where the term “Disability” is referenced. This definition
may not be the same definition of disability in a supplemental insurance plan.

 

(vi)            
Termination Date. “Termination Date” means the date of receipt of the Notice of Termination (as defined in Paragraph
4(f) below) or any later date specified therein, as the case may be; provided, however, that (i) if Executive’s employment is terminated
by the Company other than for Cause or Disability, the Termination Date shall be the date on which the Company notifies Executive of such
termination, (ii) if Executive’s employment is terminated by reason of death or Disability, the Termination Date shall be the date
of death of Executive or the date the Disability is determined, as the case may be, and (iii) to the extent necessary to comply with Section
409A of the Code, the Termination Date shall be Executive’s “separation from service” within the meaning of Section
409A of the Code.

 

    	 	-11-	 

     

    

(e)              
Certain Limitations on Payments by the Company. Notwithstanding anything in this Agreement to the contrary, in the event
that it is determined by an independent accounting firm chosen by mutual agreement of the parties (the “Accounting Firm”)
that any economic benefit, payment or distribution by the Company to or for the benefit of Executive, whether paid, payable, distributed
or distributable pursuant to the terms of this Agreement or otherwise (a “Payment”), would be subject to the excise tax imposed
by Section 4999 of the Code (such excise tax referred to in this Agreement as the “Excise Tax”), then the value of any such
Payments payable under this Agreement (the “Agreement Payments”) which constitute “parachute payments” under Section
280G(b)(2) of the Code, as determined by the Accounting Firm, will be reduced so that the present value of all Payments (calculated in
accordance with Section 280G of the Code and the regulations thereunder), in the aggregate, is equal to 2.99 times Executive’s “base
amount,” within the meaning of Section 280G(b)(3) of the Code (the “Reduced Amount”).  Notwithstanding the foregoing,
the Agreement Payments shall be reduced to the Reduced Amount only if the Accounting Firm determines that Executive would have a greater
“Net After-Tax Receipt” (as defined below) of aggregate Payments if the Executive’s Agreement Payments were reduced
to the Reduced Amount.  “Net After Tax-Receipt” shall mean the present value (as determined in accordance with Section
280G(b)(2)(A)(ii) and 280G(d)(4) of the Code) of a Payment net of all taxes imposed on Executive with respect thereto under Sections 1
and 4999 of the Code and under applicable state and local laws (and including any employment, social security or Medicare taxes, and other
taxes (including any other excise taxes)), determined by applying the highest marginal rate under Section 1 of the Code and under state
and local laws which applied to the Executive’s taxable income for the tax year in which the Change in Control occurs, or such other
rate(s) as the Accounting Firm determines to be likely to apply to Executive in the relevant tax year(s) in which any Payment is expected
to be made.

 

(f)               
Notice of Termination. Any termination by the Company for Cause or by Executive for Good Reason shall be communicated by
Notice of Termination to the other party hereto given in accordance with Paragraph 8 of this Agreement. If Executive terminates this Agreement
for any reason or the Company terminates this Agreement without Cause, he or it shall provide to the other not less than thirty (30) days
prior written notice. The Company shall not be required to provide any advance notice in the event of a termination for Cause, except
as may be specifically provided herein as a result of a “cure” provision, nor shall the thirty (30) day notice requirement
apply to either party for a termination as a result of non-renewal of employment at the end of the Original Term or any Renewal Term.
For purposes of this Agreement, a “Notice of Termination” means a written notice which (i) indicates the specific termination
provision in this Agreement relied upon, (ii) sets forth in reasonable detail the facts and circumstances claimed to provide a basis for
termination of Executive’s employment under the provision so indicated and (iii) if the Termination Date (as defined below) is other
than the date of receipt of such notice, specifies the termination date (which date shall be not more than sixty (60) days after the giving
of such notice). The failure by Executive to set forth in the Notice of Termination any fact or circumstance which contributes to a showing
of Good Reason shall not waive any right of Executive hereunder or preclude Executive from asserting such fact or circumstance in enforcing
his rights hereunder.

 

    	 	-12-	 

     

    

(g)       Condition
on Payments. The right to payments contemplated in Paragraphs 4(a) and (b) shall cease if Executive breaches any material provision
of any agreement between Executive and the Company, including without limitation Paragraph 5 or any other material term of this Agreement,
and fails to cure said breach (if curable) within 30 days of receipt of written notice from the Company setting forth in detail the nature
of the breach. This paragraph shall survive termination of this Agreement.

 

5.                 
Executive Covenants.

 

(a)              
Confidential Information. Executive shall hold in a fiduciary capacity for the benefit of the Company all secret or confidential
information, knowledge or data relating to the Company or any of its subsidiaries, and their respective businesses, which shall have been
obtained by Executive during Executive’s employment by the Company or any of its subsidiaries and which shall not be or become public
knowledge (other than by acts by Executive or his representatives in violation of this Agreement). After termination of Executive’s
employment with the Company, Executive shall not, without the prior written consent of the Company, communicate or divulge any such information,
knowledge or data to anyone other than the Company and those designated by it. In no event shall an asserted violation of the provisions
of this subparagraph (a) constitute a basis for deferring or withholding any amounts otherwise payable to Executive under this Agreement.

 

(b)              
Covenant Not to Compete. At all times during Executive’s employment by the Company or any of its subsidiaries and
for one year following termination of Executive’s employment, Executive shall not, unless acting with the prior written consent
of the Company, directly or indirectly (i) own, manage, operate, finance, join, control or participate in the ownership, management, operation,
financing or control of, or be associated as an officer, director, employee, partner, principal, agent, representative, consultant or
otherwise with, or use or permit his name to be used in connection with, any profit or not-for-profit business or enterprise which at
any time during such period designs, manufactures, assembles, sells, distributes or provides products (or related services) in competition
with those designed, manufactured, assembled, sold, distributed, or provided, or under active development, by the Company (including all
future developments in and improvements on such products and services) in any part of the world; (ii) offer or provide employment to,
interfere with or attempt to entice away from the Company, either on a full-time or part-time or consulting basis, any person who then
currently is, or who within one year prior thereto had been, employed by the Company; (iii) directly or indirectly, solicit the business
of, or do business with, any customer, supplier, or prospective customer or supplier of the Company with whom Executive had direct or
indirect contact or about whom Executive may have acquired any knowledge while employed by the Company, or (iv) take any action which
is intended, or would reasonably be expected, to harm the Company or its reputation or which would reasonably be expected to lead to unwanted
or unfavorable publicity to the Company; provided, however, that this provision shall not be construed to prohibit the ownership
by Executive of not more than 2% of any class of securities of any corporation which is engaged in any of the foregoing businesses that
has a class of securities registered pursuant to the Securities Exchange Act of 1934. If Executive’s spouse engages in any of the
restricted activities set forth in the preceding sentence, Executive shall be deemed to have indirectly engaged in such activities in
violation of this covenant. This provision shall be extended at the option of the Company, for a period of time equal to all periods during
which Executive is in violation of the foregoing covenant not to compete and to extend the covenant not to compete to run from the date
any injunction may be issued against Executive, should that occur, to enable the Company to receive the full benefit of the covenant not
to compete agreed to herein by Executive.

 

    	 	-13-	 

     

    

(c)              
Rights and Remedies Upon Breach. It is recognized that the services to be rendered under this Agreement by Executive are
special, unique and of extraordinary character. If Executive breaches, or threatens to commit a breach of, any of the provisions of Paragraph 5(a)
or 5(b) (the “Covenants”), then the Company and/or any of its affiliates shall have the following rights and remedies, each
of which shall be independent of the other and severally enforceable, and all of which rights and remedies shall be in addition to, and
not in lieu of, any other rights and remedies available to the Company under law or in equity:

 

(i)       Specific
Performance. The right and remedy to have the Covenants specifically enforced by any court having equity jurisdiction, including obtaining
an injunction to prevent any continuing violation thereof, it being acknowledged and agreed that any such breach or threatened breach
will cause irreparable injury to the Company and that money damages will be difficult to ascertain and will not provide adequate remedy
to the Company.

 

(ii)       Severability
of Covenants. If any of the Covenants, or any part thereof, are hereafter construed to be invalid or unenforceable in any jurisdiction,
the same shall not affect the remainder of the Covenants or the enforceability thereof in any other jurisdiction, which shall be given
full effect, without regard to the invalidity or unenforceability in such other jurisdiction.

 

(iii)       Blue-Pencilling.
If any of the Covenants, or any part thereof, are held to be unenforceable because of the duration of such provision or the geographical
scope covered thereby, the parties agree that the court making such determination shall have the power to reduce the duration or geographical
scope of such provision and, in its reduced form, such provision shall then be enforceable and shall be enforced; provided, however, that
the determination of such court shall not affect the enforceability of the Covenants in any other jurisdiction.

 

(d)              
Assignability. Executive specifically acknowledges and agrees that in the event the Company should undergo any change in
ownership or change in structure or control, or should the Company transfer some or all of its assets to another entity, the Covenants
contained herein and the right to enforce the Covenants may be assigned by the Company to any company, business, partnership, individual
or entity, and that Executive will continue to remain bound by the Covenants.

 

    	 	-14-	 

     

    

(e)              
Survival. This Paragraph 5 shall survive termination of this Agreement.

 

6.                 
Non-exclusivity of Rights. Nothing in this Agreement shall prevent or limit Executive’s continuing or future
participation in any benefit, bonus, incentive or other plans, programs, policies or practices, provided by the Company or any of its
subsidiaries and for which Executive may qualify, nor shall anything herein limit or otherwise affect such rights as Executive may have
under any stock option, restricted stock, stock appreciation right, or other agreements with the Company or any of its subsidiaries. Amounts
which are vested benefits or which Executive is otherwise entitled to receive under any plan, policy, practice or program of the Company
or any of its subsidiaries at or subsequent to the Termination Date shall be payable in accordance with such plan, policy, practice or
program provided, however, that in the event the terms of any such plan, policy, practice or program concerning the payment of benefits
thereunder shall conflict with any provision of this Agreement, the terms of this Agreement shall take precedence but only if and to the
extent the payment would not adversely affect the tax exempt status (if applicable) of any such plan, policy, practice or program and
only if the employee agrees in writing that such payment shall be in lieu of any corresponding payment from such plan, policy, practice
or program.

 

7.                 
Full Settlement. The Company’s obligation to make the payments provided for in this Agreement and otherwise
to perform its obligations hereunder shall not be affected by any set-off, counterclaim, recoupment, defense or other claim, right or
action which the Company may have against Executive or others. In no event shall Executive be obligated to seek other employment or take
any other action by way of mitigation of the amounts payable to Executive under any of the provisions of this Agreement. The Company agrees
to pay, to the full extent permitted by law, all legal fees and expenses which Executive may reasonably incur as a result of any contest
(regardless of the outcome thereof) by the Company or others of the validity or enforceability of, or liability under, any provision of
Paragraph 4 of this Agreement or any guarantee of performance thereof, plus in each case interest at the applicable Federal rate provided
for in Code Section 7872(f)(2).

 

8.                 
Notices. Any notice, request, instruction or other document to be given hereunder by any party to the other shall
be in writing and shall be deemed to have been duly given (i) on the date of delivery if delivered personally, or by telecopy or telefacsimile,
(ii) on the first business day following the date of dispatch if delivered by Federal Express or other next-day courier service, or (iii)
on the third business day following the date of receipt requested, postage prepaid. All notices hereunder shall be delivered as set forth
below, or pursuant to such other instructions as may be designated in writing by the party to receive such notice.

 

	(a) If to the Company:	 	Huttig Building Products, Inc.
	 	 	555 Maryville University Drive, Suite 240
	 	 	St. Louis, Missouri 63141
	 	 	Attention: General Counsel
	 	 	 

 

    	 	-15-	 

     

    

	(b) If to Executive:	 	Jon Vrabely
	 	 	2039 Wilson Ridge Lane
	 	 	Chesterfield, MO 63005

 

9.                 
Waiver of Breach. The waiver of either the Company or Executive of a breach of any provision of this Agreement shall
not operate or be construed as a waiver of any subsequent breach by either the Company or Executive.

 

10.             
Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of both the Company and Executive
and their respective successors, assigns, heirs and legal representatives, but neither this Agreement nor any rights hereunder shall be
assigned by either the Company or Executive without the consent in writing of the other party. The Company shall require any successor
(whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets
of the Company to assume expressly and agree to perform this Agreement in the same manner and to the same extent that the Company would
be required to perform it if no such succession had taken place. As used in this Agreement, “Company” shall mean the Company
as hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement
by operation of law, or otherwise.

 

11.             
Governing Law and Venue. This Agreement shall be governed by and constructed in accordance with the laws of the State
of Missouri. In the event of any legal or equitable action arising under this Agreement, the venue of such action shall lie exclusively
within St. Louis County Circuit Court.

 

12.             
Enforcement Costs. Except as specifically provided herein under Paragraph 7, if any party hereto institutes any action
or proceeding to enforce this Agreement the prevailing party in such action or proceeding shall be entitled to recover from the nonprevailing
party all legal costs and expenses incurred by the prevailing party in such action, including, but not limited to, reasonable attorney
fees, paralegal fees, law clerk fees, and other legal costs and expenses, whether incurred at or before trial, and whether incurred at
the trial level or in any appellate, bankruptcy, or other legal proceeding.

 

13.             
Amendment; Integration. No change or modification of this Agreement shall be valid unless the same is in writing
and signed by the person or party to be charged. The Company and Executive agree that they will negotiate in good faith and jointly execute
an amendment to modify this Agreement to the extent necessary to comply with the requirements of Code Section 409A, or any successor statute,
regulation and guidance thereto; provided, however, under no circumstances shall the Company be obligated to increase its financial obligations
to Executive in connection with any such amendment. Effective as of the Effective Date, this Agreement shall supersede any and all other
agreements, either oral or written, between the parties hereto with respect to the subject matter hereof; including, without limitation,
the 2006 Amended and Restated Change of Control Agreement by and between the Executive and the Company, dated October 25, 2006, except
this Agreement shall not supersede the Indemnification Agreement by and between Executive and the Company, dated October 10, 2005, or
any restricted stock or option agreement entered into prior to the Effective Date.

 

    	 	-16-	 

     

    

14.             
Severability. If any portion of this Agreement shall be, for any reason, invalid or unenforceable, the remaining
portion or portions shall nevertheless be valid, enforceable and carried into effect, unless to do so would clearly violate the present
legal and valid intention of the parties hereto.

 

15.             
Tax Consequences. Executive hereby acknowledges and agrees that the Company makes no representations or warranties
regarding the tax treatment or tax consequences of any compensation, benefits or other payments under this Agreement, including, without
limitation, by operation of Code Section 409A, or any successor statute, regulation and guidance thereto.

 

16.             
Headings. The headings of this Agreement are inserted for convenience only and are not to be considered in construction
of the provisions hereof.

 

IN WITNESS WHEREOF, the Company has caused this Agreement to be executed
by its duly authorized officers, and Executive has hereunto set his hand, as of the day and year first above written.

 

Huttig Building Products, Inc.

 

By: /s/ Delbert H. Tanner

Name: Delbert H. Tanner

Title: Chairman

 

EXECUTIVE:

 

/s/ Jon P. Vrabely

Jon P. Vrabely

 

 

 

 

 

 

17

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