Document:

exv10w1

 

Exhibit 10.1

McAfee, Inc.

Executive Officer Annual Compensation for Fiscal Year Ending December 31, 2006

	 	 	 	 	 	 	 	 	 
	Name	 	Expected Annual Salary ($)	 	Maximum Potential Bonus ($)
	Kevin Weiss
	 	 	550,000	 	 	 	600,000	 
	Eric Brown
	 	 	550,000	 	 	 	600,000	 
	Bill Kerrigan
	 	 	440,000	 	 	 	264,000	 
	Kent Roberts
	 	 	425,000	 	 	 	255,000exv10w6

 

Exhibit 10.6

BUILDERS FIRSTSOURCE, INC.

MANAGEMENT INCENTIVE PLAN

     1. Purposes; Interpretation. The purposes of the Builders FirstSource, Inc.
Management Incentive Plan are to reinforce corporate, organizational and business-development
goals, to promote the achievement of year-to-year financial and other business objectives and to
reward the performance of the Company’s executive officers in fulfilling their personal
responsibilities. The Plan is designed and intended to comply, to the extent applicable, with
Section 162(m) of the Code, and all provisions hereof shall be construed in a manner to so comply.

     2. Definitions. The following terms, as used herein, shall have the following
meanings:

“Affiliate” shall mean, with respect to the Company or any of its subsidiaries, any other Person
directly or indirectly controlling or controlled by or under direct or indirect common control with
the Company.

“Award” shall mean an incentive compensation award, granted pursuant to the Plan, that is
contingent upon the attainment of Performance Goals with respect to a Performance Period.

“Board” shall mean the Board of Directors of the Company.

“Code” shall mean the Internal Revenue Code of 1986, as amended.

“Committee” shall mean the committee that may be established by the Board to administer the Plan,
the composition of which shall at all times consist of “outside directors” within the meaning of
section 162(m) of the Code.

“Company” shall mean Builders FirstSource, Inc. and its subsidiaries and successors.

“Covered Employee” shall have the meaning set forth in Section 162(m)(3) of the Code.

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

“Participant” shall mean an executive officer of the Company who is, pursuant to Section 4 of the
Plan, selected to participate herein.

“Performance Goals” shall mean performance goals based on one or more of the following criteria,
determined in accordance with generally accepted accounting principles, where applicable: (i)
pre-tax income or after-tax income; (ii) earnings including operating income, earnings before or
after taxes, earnings before or after interest, depreciation, amortization, or extraordinary or
special items; (iii) net income excluding amortization of intangible assets, depreciation and
impairment of goodwill and intangible assets; (iv) operating income; (v) earnings or book value per
share (basic or diluted); (vi) return on assets (gross or net), return on investment, return on
capital, or return on equity; (vii) return on revenues; (viii) net tangible

 

 

assets (working capital plus property, plants and equipment) or return on net tangible assets
(operating income divided by average net tangible assets); (ix) operating cash flow (operating
income plus or minus changes in working capital less capital expenditures); (x) cash flow, free
cash flow, cash flow return on investment (discounted or otherwise), net cash provided by
operations, or cash flow in excess of cost of capital; (xi) economic value created; (xii) operating
margin or profit margin; (xiii) stock price or total stockholder return; (xiv) earnings from
continuing operations; (xv) cost targets, reductions or savings, productivity or efficiencies;
(xvi) strategic business criteria, consisting of one or more objectives based on meeting specified
market penetration or market share, geographic business expansion, customer satisfaction, employee
satisfaction, human resources management, supervision of litigation, information technology, or
goals relating to divestitures, joint ventures or similar transactions; or (xvii) any other
criteria determined by the Board to be appropriate. Where applicable, the Performance Goals may be
expressed in terms of attaining a specified level of the particular criterion or the attainment of
a percentage increase or decrease in the particular criterion, and may be applied to one or more of
the Company or a parent or subsidiary of the Company, or a division or strategic business unit of
the Company, all as determined by the Board. The Performance Goals may include a threshold level
of performance below which no payment will be made (or no vesting will occur), levels of
performance at which specified payments will be paid (or specified vesting will occur) and a
maximum level of performance above which no additional payment will be made (or at which full
vesting will occur). Each of the foregoing Performance Goals shall be evaluated in accordance with
generally accepted accounting principles, where applicable, and shall be subject to certification
by the Board. The Board shall have the authority to make equitable adjustments to the Performance
Goals in recognition of unusual or non-recurring events affecting the Company or any parent or
subsidiary of the Company or the financial statements of the Company or any parent or subsidiary of
the Company, in response to changes in applicable laws or regulations or to account for items of
gain, loss or expense determined to be extraordinary or unusual in nature or infrequent in
occurrence or related to the disposal of a segment of a business or related to a change in
accounting principles.

“Performance Period” shall mean, unless the Board determines otherwise, a period of no longer than
12 months.

“Person” shall mean any individual, corporation, partnership, joint venture, association,
joint-stock company, trust, unincorporated organization, limited liability company or government or
other entity.

“Plan” shall mean the Builders FirstSource, Inc. Management Incentive Plan, as amended from time to
time.

     3. Administration. The Plan shall be administered by the Board. The Board may appoint
a Committee to administer all or a portion of the Plan and to make recommendations to the Board
with respect to the Plan and any Awards; provided, that such Committee’s authorities and
responsibilities shall always be limited by the Board’s sole authority to make all final
determinations under the Plan. The Board may delegate to one or more agents such administrative
duties as it may deem advisable, and the Committee or any other person to whom the Board has
delegated duties as aforesaid may employ one or more persons to render advice

 

 

with respect to any responsibility the Board or such Committee or person may have under the
Plan.

     The Board shall have the authority in its sole discretion, subject to and not inconsistent
with the express provisions of the Plan, to administer the Plan and to exercise all the powers and
authorities either specifically granted to it under the Plan or necessary or advisable in the
administration of the Plan, including, without limitation, the authority to: (i) grant Awards;
(ii) determine the persons to whom and the time or times at which Awards shall be granted; (iii)
determine all of the terms and conditions (including but not limited to the Performance Goals)
relating to any Award; (iv) determine whether, to what extent, and under what circumstances an
Award may be settled, cancelled or forfeited; (v) make adjustments in the Performance Goals as
provided in Section 1(j) hereof; (vi) construe and interpret the Plan and any Award; (vii)
prescribe, amend and rescind rules and regulations relating to the Plan; and (viii) make all other
determinations deemed necessary or advisable for the administration of the Plan. All decisions,
determinations and interpretations of the Board shall be final and binding on all persons,
including the Company, the Participant (or any person claiming any rights under the Plan from or
through any Participant) and any Company stockholder. No member of the Board or the Committee
shall be liable for any action taken or determination made in good faith with respect to the Plan
or any Award granted hereunder.

     4.  Eligibility. Awards may be granted to executive officers of the Company in the
Board’s sole discretion. Subject to Section 5(a) below, in determining the persons to whom Awards
shall be granted and the Performance Goals relating to each Award, the Board shall take into
account such factors as the Board shall deem relevant in connection with accomplishing the purposes
of the Plan.

     5. Terms of Awards. 

In General. The Board shall specify with respect to a Performance Period the Performance
Goals applicable to each Award and, if applicable, minimum, target and maximum levels applicable to
each Performance Goal. Awards for any Performance Period may be expressed as a dollar amount or as
a percentage of the Participant’s annual base salary. Unless otherwise determined by the Board,
payment in respect of Awards shall be made only if and to the extent the Performance Goals with
respect to such Performance Period are attained.

Special Provisions Regarding Awards. Notwithstanding anything to the contrary contained in
this Section 5, in no event shall payment in respect of an Award granted for a Performance Period
be made to a Participant who is or is reasonably expected to be a Covered Employee in an amount
that exceeds $5 million. The Board may, in its sole discretion, increase (subject to the maximum
amount set forth in this Section 5(b)) or decrease the amounts otherwise payable to Participants
upon the achievement of Performance Goals under an Award; provided, however, that in no event may
the Board so increase the amount otherwise payable to a Covered Employee pursuant to an Award.

Time and Form of Payment. All payments in respect of Awards granted under this Plan shall
be made, in the Board’s discretion, in cash (either within a reasonable period after the end of the
Performance Period or on a deferred basis under rules promulgated by the Board) and/or in the

 

 

form of equity-based awards under an equity compensation plan that has been approved by the
Company’s stockholders; provided, however, that, unless otherwise determined by the Board, in order
to receive payment in respect of an Award, a Participant must be employed by the Company or one of
its Affiliates on the day payment would be made in the absence of any deferral. In addition, such
payments shall be made only after achievement of the Performance Goals has been certified by the
Board.

     6. General Provisions.

Compliance With Legal Requirements. The Plan and the granting and payment of Awards, and
the other obligations of the Company under the Plan and any Award, shall be subject to all
applicable Federal and state laws, rules and regulations and to required approvals by any
regulatory or governmental agency.

Nontransferability. Awards shall not be transferable by a Participant except by will or
the laws of descent and distribution.

Participant Rights. No executive officer of the Company or any other person shall have any
claim to be granted any Award under the Plan. There is no obligation for uniformity of treatment
among Participants. Nothing in the Plan or in any Award granted pursuant hereto shall confer upon
any Participant the right to continue in the employ of the Company or to be entitled to any
remuneration or benefits not set forth in the Plan or under such Award or to interfere with or
limit in any way the right of the Company to terminate such Participant’s employment.

Beneficiary. A Participant may file with the Board a written designation of a beneficiary
on such form as may be prescribed by the Board and may, from time to time, amend or revoke such
designation. If no designated beneficiary survives the Participant, the executor or administrator
of the Participant’s estate shall be deemed to be the grantee’s beneficiary.

Withholding Taxes. The Company shall have the right to withhold the amount of any taxes
that the Company may be required to withhold before delivery of payment of an Award to the
Participant or other person entitled to such payment, or to make such other arrangements for the
withholding of taxes that the Company deems satisfactory.

Amendment and Termination of the Plan. The Board or the Board may at any time and from
time to time alter, amend, suspend or terminate the Plan in whole or in part; provided, however,
that no amendment that requires stockholder approval in order for the Plan to comply with any
applicable law, regulation or rule (including, if applicable, Section 162(m) of the Code) shall be
effective unless the same shall be approved by the requisite vote of the Company’s stockholders.
Notwithstanding the foregoing, no amendment or termination of the Plan shall affect adversely any
of the rights of any Participant, without such Participant’s consent, under any Award theretofore
granted under the Plan.

Unfunded Status of Awards. The Plan is intended to constitute an “unfunded” plan for
incentive and deferred compensation. With respect to any payments not yet made to a Participant
pursuant to an Award, nothing contained in the Plan or any Award shall give any such Participant
any rights that are greater than those of a general creditor of the Company.

 

 

Governing Law. The Plan and all determinations made and actions taken pursuant hereto
shall be governed by the laws of the State of Delaware without giving effect to the conflict of
laws principles thereof.

Effective Date. The Plan shall take effect as of June 1, 2005.

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