Document:

Exhibit

Exhibit 10.a

MASCO CORPORATION

LONG-TERM INCENTIVE PROGRAM
under the 2014 Long Term Stock Incentive Plan
 for Performance Awards granted on or after December 17, 2019

Purpose of the Program

The purpose of the Long-Term Incentive Program (the “Program”) is to provide an additional incentive for a Participant (as defined below) designated by the Organization and Compensation Committee (the “Committee”) of the Board of Directors of Masco Corporation (the “Company”) to contribute to the achievement of the Company’s long-term growth and profitability goals established by the Committee at the beginning of a three-year period designated by the Committee (the “Performance Period”), and to align the Participant’s efforts with stockholder interests. The Committee will set the Performance Goals (as defined below) at levels that are consistent with the Company’s long-range business plan, and the achievement of these goals will require a high level of performance over the Performance Period. 

Summary of the Program

Awards under this Program are made granted pursuant to the 2014 Long Terms Stock Incentive Plan (the “Plan”). Terms not otherwise defined herein have the meanings given to them in the Plan. 

An Award under this Program will be designated as a Performance Restricted Stock Unit (“PRSU”), which is a bookkeeping entry that may convert to a share of Company common stock (a “Share”) under certain circumstances, including approval of a share award (“Share Award”) by the Committee. PRSUs are recorded on a one-for-one PRSU-to-Share basis; however, a PRSU can result in more or less Shares depending on the achievement level of the Performance Goals. If a PRSU does not convert to a Share at the conclusion of the Performance Period as provided in this Program, it will lapse and be forfeited without further consideration.

“Participants” in this Program are typically members of the Company’s executive officer group. An individual’s eligibility to be a Participant in this Program is determined by the Committee at the beginning of the Performance Period. The Committee will specify the performance metric(s) to be measured during the Performance Period (the “Performance Metric(s)”) and the minimum (the “Threshold”), the target (the “Target”) and the maximum (the “Maximum”) achievement of the Performance Metric(s) (each, a “Performance Goal”) at the beginning of each Performance Period. The Performance Metric(s) and Performance Goals will be set forth in an award agreement (the “Award Agreement”) between the Participant and the Company. The Company’s performance during the Performance Period will be evaluated against such Performance Goals. 

Following the completion of each year during the Performance Period, the Company will certify that year’s financial results to the Committee. At the end of the Performance Period, the Committee will then calculate the Company’s three-year performance achieved for each Performance Metric, and if at least the Threshold Performance Goal is attained, the PRSUs will be redeemed in favor of a Share Award after the end of the Performance Period, as provided in the Award Agreement. Any Share Award is subject to the Committee’s right to exercise negative discretion (to reduce or eliminate an award at any time) and to the provisions of this Program. The procedures and timing of this Program are described in more detail below. 

The calculation of the Company’s actual performance of the Performance Metric(s) designated by the Committee will be construed consistent with generally accepted accounting principles, where applicable. In addition to the adjustments referred to above, the Committee will also make adjustments as provided in the Plan and as otherwise specified in the Award Agreement to exclude, as applicable, the certain unusual items or other non-recurring items that may be separately identified and reported.  
 

1

Determination of Achieved Performance Score Percentage and Amount of Share Award

Following the completion of each year during the Performance Period, the Company will certify that year’s financial results to the Committee, and at the end of the Performance Period, the Committee will then determine the achieved “Performance Score Percentage” for the Performance Period as described in the Award Agreement. 

If the achieved overall Performance Score Percentage for the Performance Metrics is less than the Threshold Performance Score Percentage, no Share Award will be made and the PRSUs will be forfeited. If the Threshold Performance Score Percentage is achieved, subject to the Committee’s right to exercise negative discretion, a Share Award will be determined by multiplying the achieved overall Performance Score Percentage by the number of PRSUs in the Participant’s Award, and rounded to the nearest whole Share.     

Continued Employment for Share Award and Timing of Shares

Except as described below, to qualify for a Share Award, a Participant must be employed by the Company on the Share Award Date (as defined below). If a Participant’s employment is transferred within the Company, even if to a position in which the Participant is no longer eligible to participate in this Program, the Participant will continue to be eligible for a Share Award (prorated or not, as the case may be) following the Committee’s approval of that Share Award, as if the employment transfer had not occurred (unless the Committee determines that there was another reason for the transfer that violates, or is subject to, another provision of the Agreement). The use of the words “employment” or “employed” shall be deemed to refer to employment by the Company and its subsidiaries.

Once a Share Award is approved by the Committee in the year following the end of the Performance Period, the Shares will be issued to the Participant no later than March 15 of the year following the end of the Performance Period (the distribution date being the “Share Award Date”). A Participant may be required to accept certain terms and conditions after the end of the Performance Period with respect to any Shares that may be issued to the Participant.
Special Circumstances
Notwithstanding the foregoing, there are certain other employment situations in which the terms of an Award may be modified, including the following:
		
	•
	If, prior to the Share Award Date, a Participant retires as an employee of the Company and such retirement occurs on or after the Participant attains (i) age 65, or (ii) age 55 and has at least 10 years of continuous employment with the Company, then, in the discretion of the Committee, the Participant may receive a cash payment equal to the value of a prorated Share Award (where the prorated amount is determined by the Committee and may be based, in part, on the length of the Participant’s service during the Performance Period) that would otherwise have been made. Such cash payment would be made at the same time as Share Awards are made to other Participants; and 

		
	•
	If, prior to the Share Award Date, (1) there is a Change in Control of the Company and the Participant is terminated from employment at the time of the Change in Control or within a specified period after the Change in Control (as determined by the Committee) or the Participant resigns from employment for Good Reason (as determined by the Committee) within that specified period, or (2) the Participant dies, or (3) the Participant becomes permanently and totally disabled (as determined by the Committee), then, in the discretion of the Committee, a cash payment equal to the value of a prorated Share Award (where the prorated amount is determined by the Committee and may be based, in part, on the length of the Participant’s service during the Performance Period) that would otherwise have been made. Such cash payment may be made at the same time as Share Awards are made to other Participants.

2

Participant’s Further Agreements

In consideration of the Award, each Participant agrees to the following terms.
    
The Participant agrees not to engage in certain activities

Notwithstanding anything contained in the Award Agreement, if at any time the Participant engages in an activity following the Participant’s termination of employment, which in the sole judgment of the Committee is detrimental to the interests of the Company, including a subsidiary or affiliated company, all rights to any portion of the Award will be forfeited. Such activity includes, but is not limited to, “Business Activities.”

In addition, in consideration for an Award, and regardless of whether any Shares have been issued, while a Participant is employed or retained as a consultant by the Company or any of its subsidiaries or affiliates and for a period of one year following any termination of such employment and, if applicable, any consulting relationship with the Company or any of its subsidiaries or affiliates other than a termination in connection with a Change in Control, the Participant agrees not to engage in, and not to become associated in a “Prohibited Capacity” with any other entity engaged in, any Business Activities and not to encourage or assist others in encouraging any employee of the Company or any of its subsidiaries to terminate employment or to become engaged in any such Prohibited Capacity with an entity engaged in any Business Activities. “Business Activities” shall mean the design, development, manufacture, sale, marketing or servicing of any product or providing of services competitive with the products or services of (x) the Company or any subsidiary if the Participant is employed by or consulting with the Company at any time while the Award is outstanding, or (y) the subsidiary employing or retaining the Participant at any time while the Award is outstanding, to the extent such competitive products or services are distributed or provided either (1) in the same geographic area as are such products or services of the Company or any of its subsidiaries, or (2) to any of the same customers as such products or services of the Company or any of its subsidiaries are distributed or provided. “Prohibited Capacity” shall mean being associated with an entity as an employee, consultant, investor or another capacity where (1) confidential business information of the Company or any of its subsidiaries could be used in fulfilling any of the Participant’s duties or responsibilities with such other entity, (2) any of the Participant’s duties or responsibilities are similar to or include any of those the Participant had while employed or retained as a consultant by the Company or any of its subsidiaries, or (3) an investment by the Participant in such other entity represents more than 1% of such other entity’s capital stock, partnership or other ownership interests.

If a Participant breaches the restrictions contained in the preceding paragraph, independent of any equitable or legal remedies that the Company may have and without limiting the Company’s right to any other equitable or legal remedies, then the Participant shall pay to the Company in cash immediately upon the demand of the Company (1) the amount of income realized for income tax purposes from the Award, net of all federal, state and other taxes payable on the amount of such income, but only to the extent such income is realized from any Award under this Program received on or after the Participant’s termination of employment or, if applicable, any consulting relationship with the Company or its subsidiary or within the two-year period prior to the date of such termination, plus (2) all costs and expenses of the Company in any effort to enforce its rights under this or the preceding paragraph. To the extent permitted by applicable law, the Company shall have the right to set off or withhold any amount owed to a Participant by the Company or any of its subsidiaries or affiliates for any amount owed to the Company by such Participant hereunder. The Plan also has specific provisions regarding the consequences that must follow certain types of restatements of the Company’s financial statements, and those provisions can apply even if the Participant has not breached any part of this Program.  

3

The Participant agrees to the Committee’s authority with respect to the Award and to the application of the Company’s Dispute Resolution Policy

Section 3 of the Plan provides, in part, that the Committee shall have the authority to interpret the Plan, Award Agreement, Awards and any related agreements, and decide all questions and settle all controversies and disputes relating thereto. It further provides that the determinations, interpretations and decisions of the Committee are within its sole discretion and are final, conclusive and binding on all persons. 

In addition, the Participant and the Company agree that if, for any reason, a claim is asserted against the Company or any of its subsidiaries or affiliated companies or any officer, employee or agent of the foregoing (other than a claim involving non‐competition restrictions or the Company’s, a subsidiary’s or an affiliated company’s trade secrets, confidential information or intellectual property rights) which (1) are within the scope of the Company’s Dispute Resolution Policy (the terms of which are incorporated herein, as it shall be amended from time to time); (2) subverts the provisions of Section 3 of the Plan; or (3) involves any of the provisions of this Program, the Plan or the provisions of any Award or other agreements, including those related to the restricted stock units and related Shares or the claims of the Participant or any persons to the benefits thereof, then in order to provide a more speedy and economical resolution, the Dispute Resolution Policy shall be the sole and exclusive remedy to resolve all disputes, claims or controversies which are set forth above, except as otherwise agreed in writing by the Participant and the Company or a subsidiary or affiliate of the Company. 

It is our mutual intent that any arbitration award entered into under the Dispute Resolution Policy will be final and binding and that a judgment on the award may be entered in any court of competent jurisdiction. Notwithstanding the provisions of the Dispute Resolution Policy, however, the parties specifically agree that any mediation or arbitration required by the provisions of this Program shall take place at the offices of the American Arbitration Association located in the metropolitan Detroit area or such other location in the metropolitan Detroit area as the parties might agree. These provisions:  (a) shall survive the termination or expiration of the Agreement, (b) shall be binding upon the Company’s and the Participant’s respective successors, heirs, personal representatives, designated beneficiaries and any other person asserting a claim based upon the Agreement, (c) shall supersede the provisions of any prior agreement between the Participant and the Company or its subsidiaries or affiliated companies with respect to any portion of this Program or other stock-based incentive plans to the extent the provisions of such other agreement requires arbitration between the Participant and the Participant’s employer, and (d) may not be modified without the consent of the Company. Subject to the exception set forth above, the Participant and the Company acknowledge that neither of the Participant nor the Company nor any other person asserting a claim described above has the right to resort to any federal, state or local court or administrative agency concerning any such claim and the decision of the arbitrator shall be a complete defense to any action or proceeding instituted in any tribunal or agency with respect to any dispute.

Nothing in the Agreement or otherwise limits the Participant’s ability to communicate directly with and provide information, including documents, not otherwise protected from disclosure by any applicable law or privilege to any federal, state or local governmental agency or commission (“Government Agency”) regarding possible legal violations, without disclosure to the Company. The Company may not retaliate against a Participant for any of these activities, and nothing in the Agreement requires a Participant to waive any monetary award or other payment that the Participant might become entitled to from any Government Agency. Further, nothing in the Agreement precludes a Participant from filing a charge of discrimination with the Equal Employment Opportunity Commission or a like charge or complaint with a state or local fair employment practice agency. By accepting the Award, the Participant agrees to waive the right to receive future monetary recovery directly from the Company, including payments by the Company that result from any complaint or charges that a Participant files with any Governmental Agency or that are filed on a Participant’s behalf.  

4

The Award does not imply any employment or consulting commitment by the Company

Neither the Award nor the acceptance of the Award shall imply any commitment by the Company, a subsidiary or affiliated company to the Participant’s continued employment or any consulting relationship, and that a Participant’s employment status is that of an “employee‐at‐will” and, in particular, that the Company, its subsidiary or affiliated company has a continuing right with or without cause (unless otherwise specifically agreed to in writing executed by the Participant and the Company) to terminate a Participant’s employment or other relationship at any time. The Participant’s acceptance of an Award represents the Participant’s agreement not to terminate voluntarily the Participant’s current employment (or consulting arrangement, if applicable) for at least one year from the date of the Award unless the Participant has already agreed in writing to a longer period.

The Participant agrees to comply with applicable tax requirements 

The Participant agrees to comply with the requirements of applicable federal, state, and other applicable laws with respect to withholding or providing for the payment of required taxes and that the Participant will provide related information as reasonably requested. 

Section 409A of the Internal Revenue Code 

This Program, the Plan and any Award granted hereunder are intended to comply with or be exempt from the requirements of Section 409A of the Internal Revenue Code (“Section 409A of the Code”), and the provisions of this Program, the Plan and any Award granted hereunder shall be interpreted in a manner that satisfies the requirements of Section 409A of the Code. If any provision of this Program or the Plan or any term or condition of any Award granted hereunder would otherwise frustrate or conflict with this intent, the provision or the term or condition shall be interpreted and deemed amended so as to avoid this conflict. Notwithstanding anything in the Plan to the contrary, if the Committee considers a Participant to be a “specified employee” under Section 409A of the Code at the time of such Participant’s “separation from service” (as defined in Section 409A of the Code), and any amount hereunder is “deferred compensation” subject to Section 409A of the Code, any distribution of such amount that otherwise would be made to the Participant with respect to an Award as a result of such “separation from service” shall not be made until the date that is six months after such “separation from service,” except to the extent that earlier distribution would not result in the Participant incurring interest or additional tax under Section 409A of the Code. To the extent this Award includes a “series of installment payments” (within the meaning of Section 1.409A-2(b)(2)(iii) of the Treasury Regulations), the Participant’s right to such series of installment payments shall be treated as a right to a series of separate payments and not as a right to a single payment. Notwithstanding the foregoing, the tax treatment of the benefits provided under this Program, the Plan or any Award granted hereunder is not warranted or guaranteed, and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by the Participant on account of non-compliance with Section 409A of the Code.

Administration, Amendment, and Termination of this Program

The Committee has the sole authority and discretion to interpret this Program and its related documents and to administer this Program. The Committee may amend or terminate this Program at any time. Neither the Company nor the Committee is obligated to make this Program (in whole or in part), or any other program, available to a Participant or to any other employee at any time. The Committee may suspend, eliminate, or reduce an Award, Share Award, or Shares for any Participant who fails to achieve an acceptable level of personal performance and professionalism.

The headings in this Program are for information purposes only and are not a substantive part of the operative Agreement.

Governing Law

This Program shall be governed by and interpreted in accordance with Michigan law.

5

	
		
	
	Masco Corporation
17450 College Parkway
Livonia, MI 48152

313 274 7400
www.masco.com

                            

                                                                [“Grant Date”]
        

		
	RE:
	PRSU Award under the [Insert Performance Period] Program

Dear [“Executive Name”]:

You have been designated to be a participant in Masco Corporation’s [insert Performance Period] Long-Term Incentive Program (the “Program”) by the Organization and Compensation Committee (the “Committee”) of the Board of Directors of Masco Corporation (the “Company”). This award agreement (“Award Agreement”) contains terms and conditions that apply to your award (the “Award”) of Performance Restricted Stock Units (“PRSUs”). You must accept this Award within 30 days of this notification, or it will be canceled without consideration and will be of no further force and effect. 

This Award entitles you to receive Shares as a share award (“Share Award”), if certain conditions are satisfied, including approval of the Share Award by the Committee following the Performance Period. All of your rights to this Award are described in this Award Agreement, in the Program and in the Plan, which, together, constitute your performance award agreement (the “Agreement”). Terms not otherwise defined in this Award Agreement have the meanings ascribed to them in the Program or the Plan.  

Your Award

You have been granted [“# of Shares” ] PRSUs for the three-year period that begins on January 1, ____ and ends on December 31, ____ (the “Performance Period”). Subject to the terms of the Agreement, if the Committee determines (following the end of the Performance Period), that the Performance Goal(s) (as set forth below) [was/were] achieved by the Company at the Threshold Performance Score Percentage or greater, then a Share Award will be made to you on the Share Award Date.

Goal(s) for the Performance Period

For the Performance Period, the Committee has established [insert Performance Metric(s)] as the “Performance Metric(s)” that will be measured and the following Performance Score Percentages and Performance Goal(s) for [this/these] Performance Metric(s): 

	
					
	 
	Performance Score Percentages

	 
	Weighting
	Threshold    40%
	Target        100%
	Maximum    200%

	[List Performance Metric(s) and insert the Performance Goal(s)]
	 
	 
	 
	 

	 
	 
	 
	 
	 

Notwithstanding the foregoing, the Committee shall have the right to exercise negative discretion for purposes of determining the number of PRSUs that would vest into Shares. 

6

Your Acceptance    

By accepting this Award, you voluntarily agree to the terms and conditions of this Award Agreement and acknowledge that:

		
	•
	You have read and you understand this Award Agreement, the Program and the Plan;  

		
	•
	You have received or have access to all of the documents referred to in this Award Agreement;

		
	•
	The terms and conditions contained in the Program, including without limitation, the terms under the caption “Participant’s Further Acknowledgements,” are incorporated into this Award Agreement and are binding on you; 

		
	•
	There are no other commitments or understandings currently outstanding with respect to any other grants of options, restricted stock, restricted stock units, phantom stock, stock appreciation rights, or performance awards, except as may be evidenced by other written agreements entered into by you and the Company or the Committee; 

		
	•
	You may be required to accept certain terms and conditions at the end of the Performance Period with respect to any Share Award that may be issued to you; 

		
	•
	This Award Agreement will be governed by and interpreted in accordance with Michigan law, unless preempted by applicable Federal law; and

		
	•
	This Award is, in all respects, subject to the documents referenced in this Award Agreement and the Committee’s application of its negative discretion, and is intended to comply with, or be exempt from, as the case may be, the provisions of Internal Revenue Code Section 409A.

Upon your acceptance of this this Award, the Agreement will be effective as of the date hereof.

Very truly yours,
                            
MASCO CORPORATION

    

                            

7Exhibit

Exhibit 10.b

SEVERANCE AGREEMENT AND RELEASE OF ALL LIABILITY

This Severance Agreement and Release of All Liability (“Agreement”) is made as of February 21, 2020, between Joe Gross and Masco Corporation, with a business address of 17450 College Parkway, Livonia, MI 48152 (“Masco”).  

INTRODUCTION

		
	A.
	On February 18, 2020, Masco divested Masco Cabinetry LLC and on November 6, 2019, Masco divested Milgard  Manufacturing Inc.  Employee’s affiliation with Masco ended on February 14, 2020 (the “Separation Date”).

		
	B.
	Pursuant to the letter agreement entered into by Masco and Employee on or about June 18, 2019 (the “Retention Agreement”), Employee is eligible for certain Retention Incentives as described therein. 

		
	C.
	Employee recognizes that Masco has legitimate business interests that need protection from unfair competition by Employee and that reasonable restraints on Employee’s future activities are necessary in order to protect those interests.

		
	D.
	Employee has had the opportunity to review this Agreement, has been encouraged to consult with legal counsel, if desired, in order to ascertain whether Employee has any potential rights or remedies that will be waived and released upon Employee’s execution of this Agreement.

		
	E.
	Employee and Masco, without any admission of liability, desire to settle with finality, compromise, dispose of, and release all claims and demands of Employee which have been or could be asserted, whether arising out of Employee’s employment, the termination of Employee’s employment, or otherwise.

		
	F.
	Terms not defined herein have the meaning ascribed to them in the Retention Agreement.

AGREEMENT

In exchange for the consideration and mutual promises identified below (the adequacy and sufficiency of which being duly acknowledged), Employee and Masco agree as follows:

		
	1.
	Payment of Retention Incentives.  Pursuant to the Retention Agreement, Employee is eligible for the Retention Incentives contained therein.  Masco will pay Employee the Retention Incentives consistent with the Retention Letter.  

		
	2.
	Employee’s Continuing Obligations.

		
	a.
	Release.  Employee, individually, and on behalf of Employee’s heirs, executors, administrators, successors and assigns, releases and forever discharges Masco, Employer, their parents, subsidiaries, affiliates, divisions, and, as to each of the aforementioned, their respective successors, predecessors, assigns, insurers, past and present owners, officers, directors, agents, current and former employees and independent contractors, all others for whom the parties released herein may be vicariously or otherwise liable, the attorneys and legal representatives of all those released herein, as well as the agents and employees of those attorneys and legal representatives, and any and all other persons, firms, companies, corporations and other legal entities (collectively referred to as the “Released Parties”), of and from all claims, demands, actions, causes of action, statutory rights, debts, suits, contracts, agreements, and liabilities of any kind, nature or description, direct or indirect, in law or in equity, 

in contract or in tort or otherwise, which Employee ever had or which Employee now has or hereafter can, shall or may have, against any of the Released Parties, for or by reason of any matter, cause, or thing whatsoever up to the date Employee executes this Agreement, whether known or unknown, suspected or unsuspected at the present time, or which may be based upon pre-existing acts, claims or events occurring at any time up to the present date which may or have resulted in damages, including without limitation all direct or indirect claims either for direct or consequential damages of any kind whatsoever and rights or claims arising under any and all federal, state or local statutes, ordinances and/or laws, including without limitation Title VII of the Civil Rights Act of 1964 (“Title VII”),  the Equal Pay Act (“EPA”), the Pregnancy Discrimination Act (“PDA”), the Genetic Information Nondiscrimination Act (“GINA”), the Age Discrimination in Employment Act (“ADEA”), the Older Workers Benefit Protection Act (“OWBPA”), the Family and Medical Leave Act (“FMLA”), the Americans with Disabilities Act (“ADA”), all claims under applicable state civil rights statutes, and all other claims and rights, whether in law or equity.  It is the intention of the parties that this general release by the Employee will be construed as broadly as possible.  Nothing in this Agreement, however, prohibits or prevents Employee from filing a charge with or participating, testifying or assisting in any investigation, hearing, whistleblower action or other proceeding, which cannot be waived, before any federal, state or local government agency (e.g., EEOC, NLRB, SEC, etc.), nor does anything in this Agreement preclude, prohibit or otherwise limit, in any way, Employee rights and abilities to contact, communicate with, report matters to or otherwise participate in any whistleblower program administered by any such agencies. However, to the maximum extent permitted by law, Employee agrees that if such an administrative claim is made, Employee shall not be entitled to recover any individual monetary relief or other individual remedies.
		
	b.
	Medicare Waiver. Employee affirms that as of the date Employee signs this Agreement, (1) Employee is not Medicare eligible (i.e., is not 65 years of age or older; is not suffering from end-stage renal failure; has not received Social Security Disability Insurance benefits for 24 months or longer, etc.) or (2) if eligible, Employee has no outstanding claims for Medicare benefits.  Nonetheless, if the Centers for Medicare & Medicaid Services (the “CMS”) (this term includes any related agency representing Medicare’s interests) determines that Medicare has an interest in the payment to Employee under this Agreement, Employee agrees to indemnify, defend and hold Masco harmless from any action by the CMS relating to medical expenses of Employee.  Employee agrees to reasonably cooperate with Masco upon request with respect to any claim the CMS may make and for which Employee is required to indemnify Masco under this paragraph. 

Further, Employee agrees to waive any and all future actions against Masco for any private cause of action for damages pursuant to 42 U.S.C. § 1395y(b)(3)(A).
The release contained herein will not release or otherwise affect the Parties’ rights and obligations arising under this Agreement.
		
	c.
	Past Agreements Continue.  This Agreement does not release Employee of any ongoing obligations owed to the Masco pursuant to the following agreements previously entered into with Masco:

		
	i.
	Dispute Resolution Policy (DRP).  Any dispute Employee might have against any Masco, arising out of the terms of this Agreement or otherwise, will be resolved solely by use of Dispute Resolution Policy, the terms of which are incorporated into this Agreement. By signing this Agreement, Employee certifies that Employee has had an opportunity to review the DRP and that Employee has signed an acknowledgement of receipt of that document.

		
	ii.
	Proprietary Confidential Information and Invention Assignment Agreement.  Employee agrees to comply with the Proprietary Confidential Information and Invention Assignment Agreement. That Proprietary Confidential Information and Invention Assignment Agreement, a copy of which has been provided to Employee, shall continue in full force and effect. By executing this Agreement, Employee certifies that all confidential, proprietary or trade secret information has been returned as required by Paragraph 2 of the Proprietary Confidential Information and Invention Assignment Agreement.

		
	iii.
	Terms and Conditions of Restricted Stock Awards.  Pursuant to the 2014 Masco Corporation Long-Term Stock Incentive Plan, the awards made in letters to you and the related Terms and Conditions of Restricted Stock Awards Granted Under the Masco Corporation 2014 Long Term Stock Incentive Plan, Employee continues to be bound by the obligations described therein.

		
	d.
	Return of Property.  Employee agrees to return immediately any and all Masco property still in Employee’s possession (including any and all property of its affiliates) of whatsoever kind and character, including, without limitation, keys, documents, computer software and hardware, discs and media, and policy and procedures manuals.

		
	e.
	Cooperation With Masco.  Employee agrees that in the defense or prosecution of any pending or future claim involving Masco or any of its current or former affiliates (collectively referred to as the “Company”), Employee will be available at reasonable times for the purpose of consultation, discovery and providing testimony. Employee will at all times be candid, honest, and forthright in discharging the duties contemplated by this Paragraph. If it becomes necessary for the Company to obtain the cooperation of the Employee as contemplated herein, the Company will, in good faith and to the extent practicable, endeavor to reasonably accommodate the Employee’s personal and work schedules and reimburse reasonable expenses incurred by the Employee in connection with providing support and cooperation pursuant to this Agreement.

		
	f.
	Non-Cooperation With Others.  Except to the extent permitted by applicable law, Employee shall not encourage or, except as required by law, provide any information about the business, products, or employees of the Company to any person or entity to assert, maintain, or prosecute a claim or litigation against Company or its officers, directors, or employees. Employee further agrees that, if approached informally or subpoenaed by any person, company, attorney, or agent for any person or entity other than the Company, at any time regarding any matter, currently litigated or otherwise, involving the Company, its employees, its products, or its business, Employee will give immediate notice to the General Counsel of Masco Corporation, 17450 College Parkway, Livonia, MI 48152. Masco shall reimburse Employee for any reasonable expense incurred in connection with such notification.  

		
	g.
	No Disparagement.  Employee agrees not to criticize, disparage or otherwise demean in any way Masco or its affiliates or their respective products, officers, directors or employees. This includes, but is not limited to, directly or indirectly providing disparaging comments to the media or disseminating them electronically, such as on any website or blog.

		
	h.
	Non-Disclosure.  Employee agrees that the negotiations concerning this Agreement, the fact of this Agreement, and the contents of this Agreement shall be kept strictly confidential, and shall not be disclosed to any person.  Notwithstanding the above,  Employee may disclose the terms of this Agreement: (a) to Employee’s spouse, tax advisors, taxing authorities and attorneys; (b) as may be required in response to a court order or subpoena; (c) as may be required by law or financial institutions with which Employee does business; or (e) in any action alleging a breach of, or seeking to enforce, this Agreement.  To the extent the existence or the terms of the Agreement are revealed pursuant to this paragraph, Employee agrees to take reasonable steps to ensure that any information which is disclosed will not be disclosed to any other third party, including, but not limited to, by advising such recipients that they must not divulge the terms of this Agreement and that the terms are considered confidential.

		
	i.
	Disclosure of Known Claims.  Employee represents and warrants that Employee has disclosed to Masco any and all facts within Employee’s knowledge concerning any actual or potential claim against Masco, including but not limited to any and all claims arising out of federal, state or local law, or any claim resulting in or from a loss, theft or fraud against Masco.

		
	j.
	No Actions Filed.  Employee represents that Employee has not filed any action, charge, suit, or claim against Masco with any federal, state, or local agency or court, and has not initiated any mediation or arbitration proceeding. Employee further agrees that Employee shall not receive or be entitled to any monetary damages, recovery, and/or relief of any type in connection with any charge, administrative action, or legal proceeding pursued by Employee, by any governmental agency, person, group, or entity regarding and/or relating to any claim(s) released pursuant to this Agreement.

		
	k.
	Consequence of Employee’s Breach.  Employee acknowledges and agrees that if Employee, in Masco’s good faith judgment, breaches any obligation under this Agreement or the Retention Agreement, Masco may immediately terminate any remaining payments and the provision of any other benefits that might otherwise be required by this Agreement; provided, however, Employee will be paid or allowed to retain $1,000 of the Retention Incentives.  Any such termination by Masco shall not impair the validity or enforceability of the release provision of this Agreement.

		
	l.
	Additional Relief.  The Employee acknowledges and agrees that Masco’s remedy at law for a breach or threatened breach of any of the following provisions of this Agreement: Disclosure of Known Claims, Non-Competition, No Disparagement, Non-Disclosure, Proprietary Confidential Information and Invention Assignment Agreement, Cooperation with Masco, Non-Cooperation with Others - would be inadequate and, in recognition of this fact, in the event of a breach or threatened breach of any of these provisions, the Employee agrees that, in addition to its remedy at law, and at Masco’s option, all rights of the Employee under Paragraph 1 of this Agreement may be terminated, and Masco shall be entitled without posting any bond to obtain, and the Employee agrees not to oppose a request for, equitable relief in the form of specific performance, temporary restraining order, temporary or permanent injunction or any other equitable remedy which may then be available.  The Employee acknowledges that the granting of a temporary injunction, temporary restraining order or permanent injunction merely prohibiting the use of Proprietary Information would not be an adequate remedy upon breach or threatened breach hereof, and consequently agrees upon any such breach or threatened breach to the granting of injunctive relief prohibiting the design, development, manufacture, marketing or sale of products and providing of services of the kind designed, developed, manufactured, marketed, sold or provided by Masco or its affiliates  as of the date of this Agreement.  Nothing herein contained shall be construed as prohibiting Masco from pursuing, in addition, any other remedies available to it for such breach or threatened breach.

		
	m.
	Remedies Cumulative.  Employee acknowledges and agrees that the rights and remedies given to Masco in this Agreement shall be deemed cumulative, and the exercise of one such remedy shall not operate to bar the exercise of any other rights and remedies reserved to Masco or available at law or in equity.

		
	n.
	Employee Acknowledgments.  Employee specifically represents, warrants and confirms that Employee: (a) has been properly paid for all hours worked for the Employer; (b) has received all bonuses and other compensation due to the Employee with the exception of the Employee’s final payroll check(s) for wages through and including the Separation Date, which will be paid at the time of separation; (c) is not entitled to any bonuses or other compensation; and (d) has not engaged in any unlawful conduct relating to the business of Masco.

		
	3.
	Miscellaneous Provisions

		
	a.
	Termination of Welfare Benefit and Pension Plans.  As of the Separation Date, Employee shall cease to be an active participant under Masco’s welfare benefit and pension plans (or the plans of any of Masco’s affiliates) pursuant to the terms of those plans, and no additional benefits shall accrue to Employee.  Employee waives any claim to such accrual of benefits beyond the Separation Date.

		
	b.
	Time for Acceptance.  Employee has twenty-one days during which to consider this offer.  Employee is not required to, but may, accept this Agreement by signing and dating it within twenty-one days.  If Employee does not execute this Agreement within twenty-one days, then Masco’s offer of this Agreement will be revoked and it shall be deemed null and void.

		
	c.
	Revocation/ Effective Date.  Employee understands that Employee may revoke this Agreement for a period of seven calendar days following the execution of this Agreement. Therefore, the Effective Date of this Agreement will be the eighth calendar day after Employee signs and dates the Agreement. Employee further understands that, to be effective, any revocation must be in writing and postmarked within seven calendar days of the date on which Employee signs and dates this Agreement, and that the revocation notice must be addressed to Tara Mahoney, Corporate Employment Counsel, Masco Corporation, 17450 College Parkway, Livonia, MI 48152. If revocation is by mail, Employee should send it by certified mail, return receipt requested in order to create proof of mailing.

		
	d.
	Withholding and Payroll Taxes.  Any and all payments to Employee under this Agreement are subject to applicable withholding and payroll taxes.

		
	e.
	Applicable Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of Michigan.

		
	f.
	Venue.  The parties agree that any dispute may only be commenced in the office of the American Arbitration Association nearest Livonia, Michigan. 

		
	g.
	Entire Agreement.  This Agreement contains the parties’ entire agreement relating to its subject matter and supersedes and replaces all other agreements and/or understandings between the parties relating to its subject matter, except as otherwise specifically stated herein; provided however, that the Retention Agreement, Proprietary Confidential Information and Invention Assignment Agreement and the Dispute Resolution Policy referenced herein shall be incorporated by reference into this Agreement and shall continue in full force and effect, as shall those terms in any and all other agreements which, by their terms survive the termination of employment.

		
	h.
	Modifications.  This Agreement may not be modified except by a subsequent written agreement, executed by both parties, which specifically evidences an intent to modify the terms of this Agreement.  Employee reaffirms Employee’s agreement to comply with all such ongoing obligations.  The terms of this Agreement are contractual and not a mere recital.  

		
	i.
	No Oral Representations.  Employee represents that no promise, inducement or agreement has been made between the parties regarding the subject matter of this agreement other than those specifically set forth in this Agreement, and that he has not relied on any oral statements of Masco or its representatives in deciding to sign this Agreement.  

		
	j.
	Knowing and Voluntary.  Employee represents that employee fully understands the terms of this Agreement, and is executing this Agreement voluntarily.  

		
	k.
	Severability.  If any portion of this Agreement is ruled unenforceable, all remaining provisions shall remain valid and in effect.

		
	l.
	Waiver of Breach.  The waiver by Masco of any breach of any provision of this Agreement shall not be construed or considered as a waiver of any subsequent breach.

		
	m.
	Headings.  The headings of each Paragraph are for convenience only, and shall not affect the meaning or intent of any provision of this Agreement.

		
	n.
	Assignment.  Employee’s obligations under this Agreement are not assignable, although Masco shall have the right to assign this Agreement.  This Agreement shall be binding upon Employee’s executors, heirs, estate, legal representatives, beneficiaries, and other successors in interest and shall inure to the benefit of Masco and its successors and assigns.  All subsidiaries, affiliates, and successors in interest of or to Masco are intended to be third party beneficiaries of this Agreement.

                 Masco Corporation

By: /s/ Renee Straber            
Renee Straber

Its: Vice President, Chief Human Resources Officer
           
        
        /s/ Joseph Gross___        
Employee Signature    

       Joseph Gross               
Employee Printed Name
                    
_  _February 28, 2020_______
Date Employee Signed

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