Document:

EX-10.1

[FORM OF AMENDMENT OF OPTION AGREEMENT]

Re: Amendment of Option Agreement

Dear      :

Dycom Industries, Inc. (the “Company”) has determined that it is advisable to accelerate vesting of
all of its outstanding and otherwise unvested stock option grants with exercise prices that are
greater than or equal to the Company’s closing price on the New York Stock Exchange (“NYSE”) as of
July 21, 2005 (other that those held by non-executive directors). Subject to the condition set
forth below, this accelerated vesting will apply to all stock options that have been granted to you
by the Company under its 1998 Incentive Stock Option Plan or 2003 Long-Term Incentive Plan (the
“Plans”) with exercise prices that are greater than or equal to the Company’s closing price on the
NYSE as of July 21, 2005 that are outstanding and otherwise unvested as of the date of this letter
(your “Outstanding Options”).

This accelerated vesting of your Outstanding Options is conditioned, however, on your agreement
that you will not sell, transfer, assign, pledge or otherwise dispose of, alienate, or encumber,
either voluntarily, or involuntarily, any shares that you acquire on exercising the accelerated
portion of your Outstanding Options (other than shares required to cover the exercise price and
satisfy withholding taxes) at any time before that portion of your Outstanding Options would have
vested under the terms of the applicable Plan or award agreement (without giving effect to this
acceleration, but including any possible acceleration of vesting that would otherwise occur
following a change in control or other circumstances causing accelerated vesting as set forth in
the applicable Plan and award agreement or any other agreement between you and the Company).
Except as provided herein, any sale or transfer, or purported sale or transfer, of any such shares
or any interest therein prior to that vesting date shall be null and void.

If you decide to exercise the accelerated portion of your Outstanding Options prior to the time
that portion of your Outstanding Options would have otherwise vested (including accelerated vesting
set forth in the applicable Plan or award agreement or any other agreement between you and the
Company), the Company will issue shares only in certificate form evidencing that the shares you
acquire on exercise with the following legend and such other legends as may be acquired or
appropriate under applicable law:

“THE OWNERSHIP OF THIS CERTIFICATE AND THE SHARES OF STOCK EVIDENCED HEREBY AND ANY
INTEREST THEREIN ARE SUBJECT TO SUBSTANTIAL RESTRICTIONS ON TRANSFER UNDER AGREEMENT
ENTERED INTO BETWEEN THE REGISTERED OWNER AND DYCOM INDUSTRIES, INC. A COPY OF SUCH
AGREEMENT IS ON FILE IN THE OFFICE OF THE SECRETARY OF DYCOM INDUSTRIES, INC.”

Additionally, you agree to redeliver the certificates to the Company to be held by the Company
until the restrictions on transfer have lapsed (i.e., until the accelerated portion of your
Outstanding Options would have otherwise vested). Promptly after the transfer restrictions on any
such shares have lapsed, the Company will deliver to you a certificate or certificates, free of the
restrictive legend described above, evidencing such shares. Upon the occurrence of a stock split,
reverse stock split, stock dividend or any other change in capitalization, reorganization, merger
or similar event affecting the Company’s common stock, the transfer restrictions set forth above
applicable to any stock that you may have acquired upon exercise of an option will continue in
effect with respect to any consideration or other securities received in respect of such stock.

By executing this agreement, you and the Company agree that this letter amendment amends, and
supersedes any inconsistent provisions of, the award agreements evidencing your Outstanding
Options.

Please acknowledge your agreement with the foregoing by signing the enclosed copy of this letter
agreement where indicated below and returning the executed copy to the Company care of Richard B.
Vilsoet, General Counsel. You should return the letter so that it is received by the Company no
later than July 21, 2005. If you have any questions, please call Richard Vilsoet at (561)
799-2231.

Sincerely,

Richard B. Vilsoet

General Counsel

Acknowledged and Agreed:

By:

[Name of Optionee]EX-10.1

TERMS OF METAL MANAGEMENT, INC. FISCAL 2006 RONA INCENTIVE COMPENSATION PLAN APPLICABLE TO

EXECUTIVE OFFICERS

Purpose

The objective of the Fiscal 2006 RONA Incentive Compensation Plan (the “Plan”) is to maintain
flexibility in the determination of individual awards while providing guidelines for senior
managers that are financially sound and practical.

Performance Measure; Calculation of RONA Returns

As in prior fiscal years, the Plan will measure performance of the Chief Executive Officer, the
Chief Financial Officer and other senior corporate executives based on Company return on net assets
(“RONA”). For fiscal 2006, the Compensation Committee of the Board of Directors (the “Compensation
Committee”) established threshold, target and maximum RONA levels at 16%, 20% and 24%,
respectively. Required returns will be determined by applying the applicable percentage of 16%,
20% or 24% to the Company’s enterprise value at the beginning of Fiscal 2006 as determined by the
Compensation Committee, plus or minus changes in net assets during Fiscal 2006. For purposes of
the calculation, the term “change in net assets” refers to the change measured in the balances of
cash, accounts receivable, inventories, prepaid expenses, other current assets, net property, plant
and equipment and long term assets (including goodwill and other intangibles) minus the sum of
accounts payable, accrued expenses, and other current liabilities.

Eligibility

Employees must be actively employed by the Company at the end of the fiscal year, March 31, 2006,
to be eligible for participation in the Plan. Bonus targets, expressed as a percentage of base
salary at threshold, target and maximum RONA levels, for the Company’s senior management are as
follows:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Job Category	 	Bonuses as % of Base Salary Paid in Fiscal Year
	 	 	Threshold	 	Target	 	Maximum
	Chief Executive Officer
	 	 	50	%	 	 	100	%	 	 	200	%
	CFO
	 	 	25	%	 	 	50	%	 	 	100	%
	Other Senior Corporate Executives
	 	 	25	%	 	 	50	%	 	 	75	%
	 
	 	 	 	 	 	 	 	 	 	 	 	 

Bonus targets will be calculated on a linear method from the threshold level to the maximum level
based on actual performance. Performance above the maximum level may generate awards over the
maximum targets at the discretion of the Compensation Committee.

Administration

The Plan is administered by the Compensation Committee. The Compensation Committee consists of
members of the Board who are not employees and who are not eligible for participation in this Plan.

The Compensation Committee may establish such rules and regulations as it deems necessary for the
Plan and its interpretation. The Compensation Committee may adjust RONA performance requirements
the Company’s enterprise value, or other factors as it deems equitable in recognition of unusual or
non-recurring events affecting the Company, changes in applicable tax laws or accounting principles
or such other factors as the Compensation Committee may determine. The Compensation Committee, in
its discretion, may also reduce the bonus award payable to any participant upon his or her
achievement of threshold, target or maximum level, but not, except under certain circumstances, but
not to an amount below the threshold level.

Awards Distribution

At the end of the fiscal year, the program will be administered and awards determined by the Chief
Executive Officer and President, subject to the approval of the Compensation Committee. It is
contemplated that payments under the RONA Plan will be distributed in the last payroll of May 2006.
Awards under the Plan will be made, at the discretion of the Compensation Committee, in the form
of a cash bonus, stock options and restricted stock, or any combination thereof.EX-10.1

EXHIBIT 10.1

	 	 	 	 	 
	RSA Security

	 	RSA Security Inc.

174 Middlesex Tpke.

Bedford, MA 01730
	 	Tel 781 515 5000

Fax 781 515 5010

www.rsasecurity.com

July 18, 2005

Mr. Charles Stuckey

121 Woodbine Road

Carlisle, MA 01741

Dear Chuck:

This letter confirms our conversations on June 9, 2005 and June 30, 2005 regarding medical and
dental benefits after your retirement on June 30, 2005.

COBRA COVERAGE

Your coverage as an active employee under the RSA Security Group Health plan (the “Plan”) will
terminate on June 30, 2005. Termination of coverage under the Plan is a “Qualifying Event” under
the federal continuation coverage law known as COBRA. In general, COBRA allows covered individuals
to continue their health insurance for up to 18 months following a Qualifying Event, such as
termination of employment. However, RSA Security’s current health care vendor, United HealthCare,
has agreed to a six (6) month and 13 day extension of COBRA for a total of 24 months and 13 days
for you. (During that same period, both you and Marilyn will be covered by COBRA under the dental
plan.) After COBRA coverage terminates, RSA Security will pay or reimburse you for the cost of
Medicare and supplemental insurance, as described below.

In addition, RSA Security will reimburse Marilyn (or pay directly on her behalf) for costs
associated with Medicare Part B and Medicare Supplement Insurance that combined will provide to
Marilyn substantially the same coverage as she would have received under RSA Security’s group
health plan. The intent with this coverage plan for you and Marilyn is to provide both of you with
group health coverage that is substantially similar to RSA Security’s active coverage. To ensure
continuous coverage, Marilyn may be covered by COBRA under the RSA medical plan until her
enrollment in the full complement of Medicare programs is complete.

You will receive a COBRA election package in the mail. Included within this package will be a
COBRA notice explaining your rights and responsibilities. There will also be an election form that
you will need to complete and timely return. If you have any questions regarding this material,
please contact Bette Phillos at (781) 515-5467 or Kathryn Tolan at (617) 570-9100.

The benefits that you will receive under COBRA continuation coverage will be the same as provided
to active employees, and may not necessarily be the same as the current benefits. Each year, RSA
Security reviews the benefits package from a cost and competitiveness perspective. Although we
make every effort to maintain consistency, it is possible that benefit revisions may be made over
the next two years. If RSA Security changes its insurance carrier from United HealthCare to another
carrier, it will use its best reasonable efforts to obtain a similar extension of COBRA coverage
from that subsequent carrier.

The cost of COBRA coverage for you (for health and dental) and Marilyn (for dental) will be paid
directly to the carrier by RSA Security for the period of COBRA coverage.

MEDICARE

Medicare is health insurance that is offered to most people age 65 and older and for certain
disabled people who are under age 65. Medicare includes the original Medicare program and a
variety of Medicare Advantage programs. Medicare Advantage programs are managed care plans, and
will vary based on the state in which you live. The Medicare Information binder presented during
our meeting provides additional background information. As we noted during our meeting, additional
information can be obtained at the official Medicare website (www.medicare.gov). If necessary,
please contact us in the fall of 2006 if you need assistance with or want to discuss your Medicare
options.

Please note that you should sign up for Medicare three months prior to turning 65. By signing up
prior to age 65, you will receive Medicare benefits starting on the first day of the month you turn
age 65. If this is the case, there will be a 13 day overlap with COBRA. Based on the Medicare
options that you and Marilyn select, there may be additional costs for Part B premiums, Part D
premiums and/or fees for a Medigap policy. As noted above, RSA Security will reimburse you and
Marilyn for any additional premiums for as long as you or Marilyn are covered by Medicare.

Thank you for your time and attention. Please do not hesitate to contact me with any questions or
concerns.

Best regards,

/s/Vivian Vitale

Vivian Vitale

Senior Vice President, Human Resources

RSA Security Inc.

ACCEPTED BY:

/s/Charles R. Stuckey, Jr.

CHARLES STUCKEY

DATE: 7-19-05

Cc: Compensation Committee

A. Coviello

J. Glidden

M. Seif

K. Leach

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