Document:

Exhibit
      10.42

     

    BUILDING
      MATERIALS HOLDING CORPORATION

    2006
      ANNUAL
      INCENTIVE PROGRAM

     

    BMC
      West
      Officers & Key Staff

     

    This
      2006 ANNUAL
      INCENTIVE PROGRAM (the "Incentive
      Program")
      was adopted by
      the Compensation Committee (the "Committee") of Building Materials Holding
      Corporation ("BMHC" or the "Company") on February 16, 2006.

     

    WHEREAS,
      the
      Company obtained shareholder approval of the Building Materials Holding
      Corporation 2004 Incentive and Performance Plan (the "Plan"),
      which
      authorizes the Committee under Section 4.6 to grant annual incentive awards
      ("Annual Incentive Awards") based on the performance of BMHC;

     

    WHEREAS,
      the
      Compensation Committee met on February 16, 2006 and adopted the Incentive
      Program for certain employees of BMHC ("Participants") to increase the value
      of
      the Company by aligning the interests of the Participants with those of the
      stockholders of the Company through the granting of Annual Incentive Awards;
      and

     

    WHEREAS,
      Section 7
      of the Plan authorizes the Compensation Committee to administer the Incentive
      Program.

     

    NOW,
      THEREFORE, the
      Company, through the action of the Compensation Committee on February 16th,
      2006, hereby adopts the following Incentive Program.

     

    1. Calculation
      of Annual Incentive Award

     

    a. The
      Annual
      Incentive Award is based on the Company's achievement of (i) BMHC EBITDA, (ii)
      BMCW EBITA and (iii) BMCW RONI targets during the Company’s 2006 fiscal year
      ("Fiscal
      Year
      2006").
      Each EBITDA,
      EBITA amount and each RONI percentage corresponds to a percentage multiplier
      ("Multiplier").
      To calculate
      Participant's Annual Incentive Award, the Multiplier for each actual EBITDA,
      EBITA and RONI result for Fiscal Year 2006 is multiplied by its weighting
      percentage (for Fiscal Year 2006, the weighting percentage for each metric
      is
      33.33%), the results are added together, and the resulting sum of the weighted
      Multipliers is expressed as a percentage, which itself is multiplied by the
      Participant's Base Salary. The Annual Incentive Award Summary provided to the
      Participant with this Incentive Plan sets forth the Multipliers applicable
      to
      each level of EBITDA, EBITA and RONI for the Participant. Notwithstanding the
      foregoing, no Annual Incentive Award will be earned if BMHC EBITDA is less
      than
      $170 million, BMCW EBITA less than $90MM and BMCW RONI is less than 22%. The
      Annual Incentive Award is not capped and the graph showing each Participant’s
      opportunity is intended to be continuous should the performance of the Company
      exceed the levels shown on the graph. Calculation of the Annual Incentive Award
      (and of EBITDA, EBITA and RONI on which it is based) is performed by BMHC's
      Controller and Human Resources offices, whose determination shall be final
      and
      binding on Participant.

     

    b. The
      financial
      performance of any business acquired by the Company shall be included in the
      calculation of EBITDA and EBITA on an as-incurred basis. Gains or losses on
      the
      sale of real estate by the Company shall be excluded from the calculation of
      EBITDA, EBITA and RONI. Other extraordinary or non-recurring gains or losses,
      including, without limitation, impairments due to an accounting rule change
      or
      other factor outside of management's control and not related to the ongoing
      operations of the Company, shall not be included in the calculation of EBITDA,
      EBITA and RONI unless specifically provided by the Committee.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    2. Payment
      of
      Annual Incentive Award

     

    Notwithstanding
      any
      other provision of this Incentive Program or the Plan, the Annual Incentive
      Award, or any portion thereof, is not and shall not be deemed to be earned
      by or
      payable to Participant until the end of Fiscal Year 2006 (December 31, 2006).
      Such final determination and payment of the Annual Incentive Award (if any)
      shall be made within sixty (60) days following the end of Fiscal Year 2006.
      The
      sole exception will be non-BMHC officers who may receive a mid-year payment
      equal to 37.5% of the projected full year payout based on actual and forecasted
      performance as of 6-30-2006. Payment shall be in the form of a cash lump sum
      unless deferred in accordance with BMHC's deferred compensation plan for
      eligible employees, under the terms and conditions established by the Committee.
      Notwithstanding the foregoing, if Participant is the Company's Chief Executive
      Officer or is, or likely will be, in the sole discretion of the Committee,
      a
      "covered employee" within the meaning of Treasury Regulation Section
      1.162-27(c)(2) with respect to Fiscal Year 2006, the Annual Incentive Award
      shall not be paid unless and until the Committee has certified in writing both
      that the actual EBITDA and RONI levels and the EBITDA and RONI targets, and
      any
      other material term or condition of the Plan or this Incentive Program, were
      satisfied. 

     

    3. Terms

     

    a. Participant
      must be an active employee of the Company as of the end of Fiscal Year 2006
      (December 31, 2006 or in the case of the mid-year payout June 30, 2006) in
      order
      to receive an Annual Incentive Award. Notwithstanding
      the
      foregoing, if, during Fiscal Year 2006, Participant (i) dies or becomes
      disabled, (ii) retires at age 55 or older with at least ten years of service,
      or
      (iii) is on an approved leave of absence, Participant (or his or her designated
      beneficiary) shall be eligible to receive an Annual Incentive Award that is
      prorated based on Participant’s number of days in active service with the
      Company during Fiscal Year 2006. Such prorated Annual Incentive Award, if any,
      shall be paid as provided in Section 2.
      For the avoidance
      of doubt, Participant shall not be entitled to an Annual Incentive Award if,
      before the end of Fiscal Year 2006, Participant is involuntarily terminated
      by
      the Company for Cause or voluntarily terminates employment with the
      Company.

     

    b. If
      Participant
      violates any provision of a non-competition agreement or a confidentiality
      agreement with the Company, Participant will not be eligible to receive an
      Annual Incentive Award or any pro rata portion thereof. 

     

    c. Notwithstanding
      any
      other provision of the Plan to the contrary, to the extent an Annual Incentive
      Award is payable to Participant after Participant’s termination of employment
      (other than due to Participant’s death), such payment shall be subject to
      Participant’s execution of an effective release of claims acceptable to the
      Company.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    d. Payments
      made
      pursuant to this Incentive Program are subject to all required federal, state
      and local withholding taxes. 

     

    e. It
      is the intent of
      the parties that the provisions of this Incentive Program conform to the
      requirements of Section 409A of the Internal Revenue Code of 1986 (the
      "Code")
      and any final
      Treasury Regulations or other authoritative guidance issued thereunder, if
      such
      Code section is applicable, and the Incentive Program shall be so construed
      and
      interpreted. In the event that the Company determines in good faith that any
      provision of this Incentive Program does not comply with Section 409A of the
      Code, the Company may amend this Incentive Program to the minimum extent
      necessary to cause the Incentive Program to comply. In the event that the
      Company determines in good faith that payment of an Annual Incentive Award
      pursuant to Section 2 hereof would violate Section 409A of the Code, then such
      award instead shall be paid on the date Participant incurs a separation from
      service from the Company as defined in Section 409A(a)(2)(A)(i) of the Code
      (or
      six months after such date if Section 409A(a)(2)(B)(i) of the Code
      applies).

     

    4. Administration

     

    The
      Incentive
      Program shall be administered by the Committee. Any determination made by the
      Committee in interpreting or administering the Incentive Program shall be final
      and binding upon Participant.

     

    5. No
      Alienation, Assignment or Encumbrance of Payments

     

    A
      Participant’s interest hereunder may not be alienated, assigned or encumbered,
      except by will, beneficiary designation, or the laws of descent and
      distribution, or as otherwise approved by the Company in writing.

     

    6. No
      Employment Contract; No Effect on other Plans

     

    This
      Incentive
      Program shall not be deemed to be a contract of employment between the Company
      and Participant. Nothing contained herein shall give Participant the right
      to be
      retained in the employ of the Company or shall interfere with the right of
      the
      Company to discharge Participant at any time, with or without reason, for any
      reason or for no reason. This Incentive Program does not affect Participant’s
      right to participate in any other plan or program sponsored by the Company,
      including, without limitation, any discretionary bonus that Participant may
      be
      eligible to receive from time to time.

     

    7. Beneficiary

     

    In
      the event an Annual Incentive Award is payable hereunder after a Participant’s
      death, such award shall be paid to Participant’s designated beneficiary, or, if
      none, to Participant's estate.

     

    8. Definitions

     

    a. "Base
      Salary"
      means a
      Participant’s base salary as in effect on the last day of the first quarter of
      Fiscal Year 2006. For avoidance of doubt, Base Salary does not include any
      actual or target incentive, bonus or commission payments, premium payments,
      overtime payments, allowances, or other compensation or remuneration of any
      kind.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    b. "Cause"
      means
      (i) conviction of or a plea of nolo
      contendre
      to a felony
      involving moral turpitude; (ii) misappropriating any significant amount of
      funds or property of the Company; (iii) attempting to obtain any
      significant personal profit from any transaction in which Participant has an
      interest which is adverse to the interest of the Company, unless the Company
      has
      first obtained consent from an officer of the Company; or (iv) a pattern of
      gross dereliction of duty that has not been cured within 15 days after
      Participant's receipt of written notice from the Company; provided, however,
      that if "Cause" otherwise is defined in an employment agreement between
      Participant and the Company, it shall have the meaning given in the employment
      agreement.

     

    c. "EBITDA"
      means earnings
      before interest, taxes, depreciation and amortization as determined by the
      Company's Controller based on the Company's audited financial
      statements.

     

    d. "RONI"
      means return on
      net investment as determined by the Company's Controller based on the Company's
      audited financial statements.

     

    9. Governing
      Law

     

    The
      Plan shall be
      governed by, and construed in accordance with, the laws of the State of
      California without regard to its conflicts of law principles. All actions and
      proceedings arising out of or relating to the Plan shall be heard and determined
      exclusively in a California state or federal court sitting in the Northern
      District of California or in the City and County of San Francisco, California,
      as applicable, and the parties hereto hereby irrevocably submit to the exclusive
      jurisdiction of such courts in any such action or proceeding and irrevocably
      agree to the laying of venue in such courts and waive the defense of an
      inconvenient forum to the maintenance of any such action or
      proceeding.

     

    10. Captions

     

    The
      captions of
      this Incentive Program are for convenience and reference only and in no way
      define, describe, extend or limit the scope or intent of this Incentive Program
      or the intent of any provision hereof.

     

    11. Severability

     

    Any
      provision of
      this Incentive Program which is deemed invalid, illegal or unenforceable in
      any
      jurisdiction shall, as to that jurisdiction and subject to this paragraph,
      be
      ineffective to the extent of such invalidity, illegality or unenforceability,
      without affecting in any way the remaining provisions hereof in such
      jurisdiction or rendering that or any other provision of this Incentive Program
      invalid, illegal, or unenforceable in any other jurisdiction.

     

    
      
        
        

      

      4Exhibit
      10.45

    

    BUILDING
      MATERIALS HOLDING CORPORATION

    

    GENERAL
      TERMS AND CONDITIONS 

    

    BMHC
      OFFICERS

    &

    BMHC
      KEY
      MANAGEMENT

    

    LONG-TERM
      CASH INCENTIVE PLAN

    

    

    1.    Definitions.

    

    1.1    "Award"
      means a cash
      award pursuant to the provisions of the Plan, expressed as a percentage of
      a
      Participant's Base Salary during a Performance Cycle.

    

    1.2    "Award
      Measures"
      means the sum of
      the EBITDA component and the ROCE component.

    

    1.3    "Base
      Salary"
      means the annual
      base salary of a Participant at the beginning of a Performance
      Cycle.

    

    1.4    "Board"
      means the Board
      of Directors of the Company, as from time to time constituted.

    

    1.5    "Change
      of
      Control"
means
      the
      occurrence of any of the following events: (i)
      there shall be
      consummated (x) any consolidation or merger of the Company in which the Company
      is not the continuing or surviving corporation or pursuant to which shares
      of
      the Company's Common Stock would be converted into cash, securities or other
      property, other than a merger of the Company in which the holders of the
      Company's Common Stock immediately prior to the merger have the same
      proportionate ownership of common stock of the surviving corporation immediately
      after the transaction or (y) 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; or (ii) the stockholders of the Company approve a plan
      or
      proposal for the liquidation or dissolution of the Company; or (iii) any
      'person' (as defined in Section 13(d) or 14(d) of the Securities Exchange Act
      of
      1934, as amended (the "Exchange
      Act")
      shall become the
      'beneficial owner' (as defined in Rule 13d-3 under the Exchange Act) directly
      or
      indirectly of fifty percent (50%) or more of the Company's outstanding Common
      Stock or (iv) during any period of two consecutive years, individuals who at
      the
      beginning of such period constitute the entire Board of Directors shall cease
      for any reason to constitute a majority thereof, unless the election or the
      nomination for election by the Company's stockholders, of each new director
      was
      approved by a vote of at least two-thirds of the directors then still in office
      who were directors at the beginning of the period. 

    

    1.6    "Code"
      means the
      Internal Revenue Code of 1986, as amended. Reference to a specific section
      of
      the Code shall include such section, any valid regulation promulgated
      thereunder, and any comparable provision of any future legislation amending,
      supplementing or superseding such section.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    1.7    "Committee"
      means the
      Compensation Committee of the Company's Board.

    

    1.8    "Company"
      means Building
      Materials Holding Corporation, a Delaware corporation and its successors and
      assigns.

    

    1.9    "Disability"
      means such time
      at which a Participant becomes physically or mentally incapacitated or disabled
      such that the Participant is unable to perform for the Company substantially
      the
      same services that the Participant performed prior to incurring such incapacity
      or disability.

    

    1.10    "EBITDA"
      means earnings
      before income taxes, depreciation and amortization. Three year cumulative EBITDA
      growth shall be calculated using the following growth objective
      targets:

     

    10% Compounded
      Growth -
      Threshold

    15% Compounded
      Growth -
      Target

    20% Compounded
      Growth -
      Maximum

    

    1.11    "Executive"
      means an officer
      or key manager employed by the Company.

    

    1.12    "Net
      Income"
      means net income
      including extraordinary items determined in accordance with generally accepted
      accounting principles except that may be modified by the committee.

    

    1.13    "Participant"
      means an
      Executive who is eligible to become a Participant in the Plan pursuant to
      Section 3 and has not ceased to be a Participant pursuant to Section
      6.5.

    

    1.14    “Participant
      Grant”
means
      the grant
      to the Executive authorized by the Board or the Committee which sets forth
      the
      Participation Level of the Executive in the Plan.

    

    1.15    "Participation
      Level"
      means that level
      in which a Participant is eligible. The Participation Levels for each
      Performance Cycle shall be determined by the Board or the Committee and shall
      be
      described in the Participant Grant. 

    

    1.16    "Performance
      Cycle"
      means a period of
      three consecutive years. More than one Performance Cycle may be in progress
      at
      any one time. This Performance Cycle shall begin on January 1, 2006 and shall
      end on December 31, 2008. A new Performance Cycle may, subject to Board or
      Committee approval, begin on January 1 of each subsequent year.

    

    1.17    "Performance
      Targets"
      means the
      threshold, target and maximum levels of three-year average ROCE and EBITDA
      growth components for a particular Performance Cycle. The Performance Targets
      for each Performance Cycle shall be determined by the Committee. The Performance
      Targets for the first Performance Cycle are set forth below. Each of the ROCE
      and EBITDA components are to be equally weighted.

    

    1.18    "Plan"
      means this
      Building Materials Holding Corporation Executive Long-Term Cash Incentive Plan,
      as set forth in this instrument and as hereafter amended from time to
      time.

    

    1.19    "Return
      on
      Capital Employed"
      or "ROCE"
      equals Net Income
      divided by Total Invested Capital. The three year average ROCE shall be
      calculated using the following formula:

     

    (ROCEy1
      + ROCEY2
      +
      ROCEY3)/3)

    

    1.20    "Termination
      Date"
      means the date of
      a Participant's termination of employment with the Company.

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    1.21    "Total
      Invested
      Capital"
      equals total
      long-term debt plus preferred stock plus minority interest plus total common
      equity.

    

    2.    Objectives.
      This Plan is
      intended to provide a long-term cash incentive program for Executives which
      will:

    

    
      	·  	
              encourage
                improved profitability, return on investment and growth of the
                Company;

            

    

    
      	·  	
              reinforce
                economic profit and the balance between growth and efficiency;
                and

            

    

    
      	·  	
              attract,
                retain and motivate senior
                management.

            

    

    

    [This
      Plan is
      intended to qualify as "performance-based compensation" under Code Section
      162(m).]

    

    3.    Eligibility.

    

    Prior
      to the
      beginning of each Performance Cycle, the Chairman, President and Chief Executive
      Officer and the Committee shall approve the Participants and the Participation
      Level for each Participant for that Performance Cycle. Participation in the
      Plan
      and Participation Level is on a Performance Cycle basis and in the discretion
      of
      the Committee. Thus, an Executive who is selected for participation in a given
      Performance Cycle is not guaranteed to be selected for participation in any
      subsequent Performance Cycle.

    

    4.    Administration
      of the Plan. 

    

    4.1    Administrator.
      The Plan shall be
      administered by the Committee. 

    

    4.2    Actions
      by the
      Committee.
      Each decision of
      a majority of the members of the Committee then in office shall constitute
      the
      final and binding act of the Committee. The Committee may act with or without
      a
      meeting being called or held and shall keep minutes of all meetings held and
      a
      record of all actions taken by written consent.

    

    4.3    Powers
      of the
      Committee.
      The Committee
      shall have all the powers and discretion necessary or appropriate to supervise
      the administration of the Plan and to control its operation in accordance with
      its terms, including, but not limited to, the following discretionary
      powers:

     

    (A)    To
      interpret and
      determine the meaning and validity of the provisions of the Plan and to
      determine any question arising under, or in connection with, the administration,
      operation or validity of the Plan or any amendment thereto;

    

    (B)    To
      establish such
      rules, regulations, agreements, guidelines and procedures for the administration
      of the Plan;

    

    (C)    To
      make Participant
      Grants, establish Participation Levels, set the Performance Cycle, establish
      Performance Targets, and take such other action as necessary to fulfill the
      terms of the Plan.

    

    (D)    To
      determine any
      and all considerations affecting the eligibility of any Executive to become
      a
      Participant or remain a Participant in the Plan;

    

    (E)    To
      establish and
      revise any accounting method or formula for the Plan, as provided in Section
      1;

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    (F)    To
      determine the
      manner and form in which any payout is to be made under the Plan;

     

    (G)    To
      employ such
      counsel, agents and advisers, and to obtain such legal, clerical and other
      services, as it may deem necessary or appropriate in carrying out the provisions
      of the Plan;

    

    (H)    To
      establish, from
      time to time, rules for the performance of its powers and duties and for the
      administration of the Plan; and

    

    (I)    To
      delegate to any
      one or more of its members or to any other person, severally or jointly, the
      authority to perform for and on behalf of the Committee one or more of the
      functions of the Committee under the Plan.

    

    4.4    Decisions
      of
      Committee.
      All actions,
      interpretations, and decisions of the Committee or the Board shall be conclusive
      and binding on all persons, and shall be given the maximum possible deference
      allowed by law.

    

    5.     
Determination
      of
      Awards. 

    

    5.1    Valuation.
      At the beginning
      of each Performance Cycle, the Board or the Committee shall establish the
      Performance Targets for the Performance Cycle and the Participation Levels
      for
      each Participant, which shall be communicated to each Participant through the
      Participant Grant at the time the Performance Targets are set and any other
      time
      during the Performance Cycle, as needed.

    

    5.2    Participation
      Levels.
      At the beginning
      of each Performance Cycle, the Committee shall (i) assign each Participant
      a
      Participation Level, which will determine the Participant's potential Award.
      The
      threshold amount shall be set at 25% of the target amount. The maximum Award
      payable with respect to any Performance Cycle shall be 200% of the target
      amount.

    

    5.3    Performance
      Targets.
      At the beginning
      of each Performance Cycle, the Committee shall determine the Performance Targets
      for such Performance Cycle. Awards shall be payable only if a threshold, target
      or maximum Performance Target objectives is met. 

    

    6.    Determination
      and Payout of Awards.

    

    6.1    Calculation
      of
      Award Measures.
      At the end of
      each Performance Cycle, the Committee, or its designee, shall calculate the
      three-year cumulative EBITDA and the three-year average ROCE using the formulas
      set forth in this Plan.

    

    6.2    Payout
      Value.
      The Award payout
      shall be determined as follows:

    

    (a) Determine
      whether the threshold, target
      or maximum Performance Target is met for the EBITDA Component and the ROCE
      component. 

    

    (b) In
      the case of the EBITDA component
      divide the actual EBITDA growth percentage achieved by the applicable
      Performance Target for the EBITDA component and multiple the result by 50%
      (the
      "EBITDA
      Award
      Measure".
      In the case of
      the ROCE component, divide the actual ROCE percentage achieved by the applicable
      ROCE Performance Level for the ROCE component and multiple the result by 50%
      (the "ROCE
      Award
      Measure").

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    (c) Add
      the EBITDA Award Measure and the
      ROCE Award Measure and multiply the resulting sum by the applicable
      Participation Level (threshold, target or maximum).

    

    (d) Multiply
      the result of the calculation
      in (c) by the Base Salary of the Participant at the start of the
      cycle.

    

    A
      sample
      calculation will be distributed to each Participant. No Awards shall be paid
      to
      a Participant for a Performance Cycle unless the threshold for either the EBITDA
      component or the ROCE component is achieved.

    

    6.3    Award
      Payment.
      Awards shall be
      paid in cash following the conclusion of each Performance Cycle as soon as
      reasonably practicable following completion of the audit of the Company's
      financial statements for the end of the last year in a Performance Cycle.
      Subject to approval of the Committee, awards may be deferred into a capital
      accumulation plan as provided for in an irrevocable deferred compensation
      election during the second year of the Performance Cycle. If the Committee,
      in
      its discretion, so determines, payment of all or part of an Award to one or
      more
      Participants may be deferred in cash or stock for a period provided in the
      Company’s Deferred Compensation Plan. Any such deferral shall be subject to such
      rules and procedures for payment as provided in the Deferred Compensation
      Plan.

    

    6.4    Termination
      of
      Employment.
      Upon a
      Participant's termination of employment with the Company, other than by reason
      of death, Disability, or retirement after age 55 with at least 5 years of
      service with the Company, the Participant's right to an Award shall be
      forfeited. Upon a termination of employment with the Company by reason of a
      Participant's death, Disability, or retirement after age 55 with at least 5
      years of service with the Company, the Participant's Award will become fully
      vested and will be prorated to the Termination Date based on the number of
      days
      during the Performance Cycle a Participant was employed. The Award will be
      paid
      to the terminated Participant at the end of the Performance Cycle.

    

    6.5    Change
      of
      Control.
      In the event of a
      Change of Control during a Performance Cycle, the Performance Cycle will be
      deemed to have ended at the end of the month immediately preceding the
consummation
      of the Change of
      Control transaction. All Participants shall become fully vested. The Awards
      shall be calculated based on a deemed achievement of the greater of (1) the
      Performance Target at the target level or (2) an amount calculated assuming
      that
      results achieved through the deemed termination date of the Performance Cycle
      were achieved for the full Performance Cycle. The amount of the Award to be
      paid
      to each Participant shall be prorated by multiplying the calculated Award by
      a
      fraction, the numerator or which shall be the actual number of days which have
      elapsed during the Performance Cycle (through the deemed termination date)
      and
      the denominator of which shall be the total number of days in the Performance
      Cycle. Awards shall be determined and paid based on such calculations within
      30
      days after the consummation of a Change of Control transaction.

    

    6.6    Taxes.
      The Company shall
      withhold all applicable income and other taxes from any Award payment to any
      Participant.

    

    6.7    Plan
      Unfunded.
      This Plan shall
      be unfunded. The Company shall not be required to establish any special
      segregation of assets to assure the payment of Awards.

    

    7.    Amendment
      or
      Termination of the Plan.
      The Plan is
      voluntary on the part of the Company, and the Company does not guarantee to
      continue the Plan beyond any Performance Cycle. The Board may alter, amend
      or
      terminate this Plan at any time for any reason. Any alteration, amendment or
      termination shall take effect upon the date indicated in the document embodying
      such alteration, amendment or termination. No termination shall impair a
      Participant's right to a previously granted Award, provided that the conditions
      to payment of the Award are satisfied.

    

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    8.    Miscellaneous
      Provisions.

     

    8.1    Interests
      Not
      Transferable.
      In no event may
      either a Participant, a former Participant or his or her beneficiary, spouse
      or
      estate sell, transfer, anticipate, assign, hypothecate, or otherwise dispose
      of
      any right or interest under the Plan; and such rights and interests shall not
      at
      any time be subject to the claims of creditors nor be liable to attachment,
      execution or other legal process.

    

    8.2    Notices.
      All notices or
      other communications by a Participant to the Company or the Committee under
      or
      in connection with this Plan shall be deemed to have been duly given when
      received by the Committee, in such form specified by the Committee, or by the
      person, designated by the Committee for that purpose.

    

    8.3    Rights
      and
      Duties.
      Neither the
      Company, the Board nor the Committee shall be subject to any liability or duty
      under the Plan except as expressly provided in the Plan, or for any action
      taken, omitted or suffered in good faith.

    

    8.4    No
      Employment
      Rights.
      Nothing in this
      Plan shall confer upon any Participant the right to continue in the employ
      of
      the Company or shall interfere with or restrict in any way the rights of the
      Company to discharge or change the terms of employment of any Participant at
      any
      time for any reason whatsoever, with or without cause.

    

    8.5    Applicable
      Law.
      The provisions of
      this Plan shall be construed, administered and enforced in accordance with
      the
      laws of the State of Delaware.

    

    8.6    Severability.
      If any provision
      of this Plan is held invalid or unenforceable, its invalidity or
      unenforceability shall not affect any other provisions of this Plan, and in
      lieu
      of each provision which is held invalid or unenforceable, there shall be added
      as part of this Plan a provision that shall be as similar in terms to such
      invalid or unenforceable provision as may be possible and be valid, legal,
      and
      enforceable.

    

    8.7    Captions. 
      The captions
      contained in this Plan are inserted only as a matter of convenience and for
      reference and in no way define, limit, enlarge or describe the scope or intent
      of this Plan nor in any way shall affect the construction of any provision
      of
      this Plan

    

    9.    Effective
      Date. The
      effective date
      of the Plan is January 1, 2006.

    

    
      
        
        

      

      6

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