Document:

Increase Term Joinder

 Exhibit 10.2 
 EXECUTION VERSION 
 INCREASE TERM JOINDER 

INCREASE TERM JOINDER, dated as of February 17, 2012 (this “Increase Term Joinder”), to the Amended and Restated
Credit Agreement, dated as of October 13, 2011 (as amended by Amendment No. 3 to the Credit Agreement (the “Amendment”), dated as of the date hereof, as supplemented by this Increase Term Joinder, and as further amended,
amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among MICROSEMI CORPORATION, a Delaware corporation (the “Borrower”), MORGAN STANLEY & CO. LLC, as
collateral agent, the Lenders from time to time party thereto, MORGAN STANLEY SENIOR FUNDING, INC., as administrative agent (in such capacity, and together with its successors and assigns in such capacity, the “Administrative
Agent”) and as syndication agent. 
 WHEREAS pursuant to Section 2.4(a) of the Credit Agreement, the Borrower has
requested that certain Persons set forth on Schedule I hereto (each such Person, an “Incremental Term Lender” and collectively, the “Incremental Term Lenders”) provide Term Loans to the Borrower under the
Credit Agreement in an aggregate principal amount of $12,000,000 (such Term Loans, collectively, the “Incremental Term Loans” and each Term Loan from an individual Incremental Term Lender, an “Incremental Term
Loan”); 
 WHEREAS each Incremental Term Lender is willing to provide its respective Incremental Term Loan to the
Borrower, on the terms and subject to the conditions set forth herein; and 
 WHEREAS Morgan Stanley Senior Funding, Inc. will
act as sole lead arranger and sole bookrunner for the Incremental Term Loans. 
 NOW, THEREFORE, the Borrower, the Incremental
Term Lenders and the Administrative Agent hereby agree as follows: 
 1. Definitions. Capitalized terms used herein which
are not defined herein and which are defined in the Credit Agreement shall have the same meanings as therein defined. 
 2.
Terms of the Incremental Term Loans. The Incremental Term Loans shall have the following terms: 
 (a) On each Quarterly
Payment Date, beginning with the Quarterly Payment Date in June 2012, the Borrower shall repay to the Administrative Agent for the ratable account of the Incremental Term Lenders the principal amount of Incremental Term Loans then outstanding in an
amount equal to 0.25% of the aggregate initial principal amounts of all Incremental Term Loans theretofore borrowed by the Borrower pursuant to Section 2.4(a) of the Credit Agreement (which amounts shall be reduced as a result of the
application or prepayments in accordance with the order of priority set forth in Section 4.8). 
 (b) The remaining unpaid
principal amount of the Incremental Term Loans shall be repaid, if not earlier in accordance with the Credit Agreement, on the Term Loan Maturity Date. 

 (c) The Applicable Margin with respect to the Incremental Term Loans shall be the same as
the Applicable Margin for Term Loans set forth in the Credit Agreement. 
 (d) The Incremental Term Loans shall be utilized
(i) to pay the prepayment premium and other fees and expenses incurred in connection with the Amendment and (ii) for general corporate purposes of the Borrower and its Subsidiaries. 

(e) All other terms and provisions of the Incremental Term Loans shall be as set forth in the Credit Agreement. 

3. Conditions to the Effectiveness of the Incremental Term Loan Commitment and the Making of the Incremental Term Loans. The
Incremental Term Loan Commitment of each Incremental Term Lender shall become effective as of the date hereof (the “Term Loan Increase Effective Date”); provided that each of the following conditions is satisfied: 

(a) The Administrative Agent shall have received duly executed and delivered counterparts of (i) this Increase Term Joinder that,
when taken together, bear the signatures of the Borrower, the Administrative Agent and each Incremental Term Lender and (ii) the reaffirmation agreement (the “Reaffirmation Agreement”) attached hereto as Exhibit A.

 (b) All fees required to be paid, and all accrued reasonable, documented out-of-pocket expenses required to be paid and for
which invoices have been presented (including the reasonable fees and expenses of legal counsel), in connection with this Increase Term Joinder shall have been paid or reimbursed, as the case may be. 

(c) Each of the representations and warranties made in this Increase Term Joinder shall be true and correct in all material respects on
and as of the Term Loan Increase Effective Date as if made on and as of such date (in the event such representations and warranties relate to a specific date, such representation and warranty shall be true and correct in all material respects on and
as of such specific date). 
 (d) The Administrative Agent shall have received the executed legal opinion of
O’Melveny & Myers LLP counsel to the Borrower, in form and substance reasonably satisfactory to the Administrative Agent. 
 (e) Each document (including any Uniform Commercial Code financing statement, but excluding any Intellectual Property Security Agreement) required by the Security Documents or under law or reasonably
requested by the Collateral Agent to be filed, registered or recorded in order to create in favor of the Collateral Agent, for the benefit of the Secured Parties, a perfected Lien on the Collateral described therein, prior and superior in right to
any other Person (other than with respect to Liens expressly permitted by Section 8.3 of the Credit Agreement), shall be in proper form for filing, registration or recordation. 

(f) The Administrative Agent shall have received reasonably satisfactory evidence that the Board of Directors of each of the Borrower and
each other Loan Party has approved the execution and delivery of this Increase Term Joinder and the Reaffirmation Agreement, as the case may be, and the performance of the transactions contemplated hereby and thereby. 

  
 - 2 -

 (g) The Administrative Agent shall have received a notice of borrowing executed by the
Borrower. 
 4. Representations and Warranties. The Borrower hereby represents and warrants to the Administrative Agent
and the Incremental Term Lenders as follows: 
 (a) Each of the representations and warranties made by any Loan Party in or
pursuant to the Loan Documents is true and correct in all material respects on and as of the Term Loan Increase Effective Date as if made on and as of such date except to the extent that such representations and warranties relate to a specific date,
in which case such representation and warranty was true and correct in all material respects as of such specific date. 
 (b) No
Default or Event of Default has occurred and is continuing or would result from the borrowings to be made on the Term Loan Increase Effective Date. 
 (c) No order, judgment or decree of any Governmental Authority applicable to any Loan Party purports to restrain any Incremental Term Lender from making any extension of credit to be made by it.

 (d) The Borrower is in compliance with each of the covenants set forth in Section 8.1 of the Credit Agreement after
giving pro forma effect to the borrowings to be made on the Term Loan Increase Effective Date as of the date of the most recent financial statements delivered pursuant to Section 7.1(a) of the Credit Agreement. 

5. Loans; Commitments. Pursuant to Section 2.4 of the Credit Agreement, by execution and delivery of this Increase Term
Joinder, together with the satisfaction of all of the other requirements and conditions set forth in this Increase Term Joinder, each undersigned Incremental Term Lender (a) shall have, on and as of the Term Loan Increase Effective Date, an
Incremental Term Loan Commitment equal to the amount set forth in the recitals hereto, (b) shall be, and shall be deemed to be, a “Term Lender” under, and as such term is defined in, the Credit Agreement and (c) severally agrees
to make a Term Loan to the Borrower on the Term Loan Increase Effective Date in an amount not to exceed its Incremental Term Loan Commitment. Any reference in the Loan Documents to Term Loans shall be deemed, unless the context otherwise requires,
to include references to the Incremental Term Loans. 
 6. Miscellaneous. The Administrative Agent hereby agrees solely
for purposes of this Increase Term Joinder to modify (a) the ten (10) Business Day notice period required pursuant to Section 2.4(a)(i) of the Credit Agreement to effect an Incremental Term Loan Commitment to an eight
(8) Business Day notice period and (b) the minimum increments of an Incremental Term Loan Commitment required pursuant to Section 2.4(a) of the Credit Agreement from $10,000,000 to $2,000,000. 

[Signature pages follow] 

  
 - 3 -

 IN WITNESS WHEREOF, the parties hereto have caused this Increase Term Joinder to be duly
executed and delivered by their proper and duly authorized officers as of the day and year first above written. 
  

			
	MICROSEMI CORPORATION, as Borrower
		
	By:	 	 /s/ John W. Hohener

	Name:	 	John W. Hohener
	Title:	 	Executive Vice President, Chief Financial Officer, Treasurer & Secretary
	
	 MORGAN STANLEY SENIOR FUNDING, INC.,as
 Administrative Agent

		
	By:	 	 /s/ Stephen B. King

	Name:	 	Stephen B. King
	Title:	 	Vice President

 [Signature Page – Increase Term Joinder] 

  

			
	 MORGAN STANLEY SENIOR FUNDING, INC.,as
 an Incremental Term Lender

		
	By:	 	 /s/ Stephen B. King

	Name:	 	Stephen B. King
	Title:	 	Vice President

 [Signature Page – Increase Term Joinder] 

 SCHEDULE I 
 Incremental Term Lenders 
 MORGAN STANLEY SENIOR FUNDING, INC. 

 Exhibit A 
 REAFFIRMATION AGREEMENT, dated as of February 17, 2012 (as amended, amended and restated, supplemented or otherwise modified from time to time, this “Agreement”), among MICROSEMI
CORPORATION, a Delaware corporation (the “Borrower”), each Subsidiary Guarantor (as defined in the Credit Agreement referred to below) identified on the signature pages hereto (the Borrower and the Subsidiary Guarantors identified
on the signature pages hereto, collectively, the “Reaffirming Parties” and each a “Reaffirming Party”), MORGAN STANLEY SENIOR FUNDING, INC., as administrative agent (in such capacity, and together with its
successors and assigns in such capacity, the “Administrative Agent”) and MORGAN STANLEY & CO. LLC, as collateral agent (in such capacity, and together with its successors and assigns in such capacity, the
“Collateral Agent”). 
 WHEREAS the Borrower, the incremental term lenders party thereto and the Administrative
Agent have entered into the Increase Term Joinder, dated as of the date hereof (the “Increase Term Joinder”), which supplements the Amended and Restated Credit Agreement, dated as of October 13, 2011 (as amended by
Amendment No. 3 to the Credit Agreement, dated as of the date hereof, and as further amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the Borrower, the Lenders
party thereto and the Administrative Agent. 
 WHEREAS each Reaffirming Party is party to one or more of the Loan Documents.

 WHEREAS each Reaffirming Party expects to realize, or has realized, substantial direct and indirect benefits as a result of
the Increase Term Joinder becoming effective and the transactions contemplated thereby being consummated. 
 WHEREAS the
execution and delivery of this Agreement is a condition precedent to the effectiveness of the Increase Term Joinder and the consummation of the transactions contemplated thereby. 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows: 
 ARTICLE I 

Reaffirmation 
 SECTION 1.01. Defined Terms. Capitalized terms used and not defined herein have the meanings given to them in the Credit Agreement. 

SECTION 1.02. Reaffirmation. Each Reaffirming Party hereby (a) consents to the Increase Term Joinder and the transactions
contemplated thereby, (b) agrees that the Credit Agreement, as supplemented by the Increase Term Joinder, shall remain in full force and effect, and (c) confirms its respective guarantees and grants of security interests, as applicable,
under each of the Security Documents to which it is party, and agrees that, notwithstanding the effectiveness of the Increase Term Joinder, such guarantees and grants of security interests shall continue to be in full force and effect and shall
continue to accrue to the benefit of the Secured Parties. 
 SECTION 1.03. Grant of Security Interest; Authorization. In
furtherance of the reaffirmations set forth in the preceding Section 1.02, and pursuant to the Guarantee and Collateral Agreement, each Reaffirming Party hereby grants to the Collateral Agent, for the benefit of the Secured Parties, a security
interest in all its respective Collateral (as defined in the Guarantee and Collateral 

 
Agreement), as collateral security for the complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of all Secured Obligations. Pursuant to
Section 9-509 of the UCC and any other applicable law, each Reaffirming Party authorizes the Collateral Agent to take all actions that are reasonably necessary or advisable to perfect and protect any security interest granted or purported to be
granted hereby (including, without limitation, to file or record financing or continuation statements and other filing or recording documents or instruments with respect to its respective Collateral without the signature of such Reaffirming Party,
to execute security agreements and/or record security grants and to file, execute and/or record amendments and/or supplements to any of the foregoing, in any jurisdictions and with any filing offices as the Collateral Agent may determine, in its
sole discretion, are necessary or advisable to perfect or otherwise protect the security interest granted to the Collateral Agent herein, except with respect to Intellectual Property, foreign jurisdictions). 

ARTICLE II 

Miscellaneous 
 SECTION 2.01. Security Document. This Agreement is a Security Document executed pursuant to the Credit Agreement and shall (unless otherwise expressly indicated herein) be construed, administered
and applied in accordance with the terms and provisions thereof. 
 SECTION 2.02. Effectiveness; Amendment; Counterparts.
This Agreement shall become effective on the date when copies hereof which, when taken together, bear the signatures of each Reaffirming Party, the Administrative Agent and the Collateral Agent, shall have been received by the Administrative Agent
and the Collateral Agent (or its counsel). None of the terms or provisions of this Agreement may be waived, amended, supplemented or otherwise modified except in accordance with Section 11.1 of the Credit Agreement. This Agreement may be
executed by one or more of the parties to this Agreement on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed signature page of this
Agreement by facsimile transmission or electronic transmission (in PDF format) shall be effective as delivery of a manually executed counterpart hereof. A set of the copies of this Agreement signed by all the parties shall be lodged with the
Borrower, the Administrative Agent and the Collateral Agent. 
 SECTION 2.03. No Novation. This Agreement shall not
extinguish the obligations for the payment of money outstanding under the Credit Agreement or discharge or release the priority of any Security Document or any other security therefor. Nothing herein contained shall be construed as a substitution or
novation of the obligations outstanding under the Credit Agreement or instruments securing the same, which shall remain in full force and effect, except to any extent modified hereby or by instruments executed concurrently herewith. Nothing implied
in this Agreement or in any other document contemplated hereby shall be construed as a release or other discharge of any Reaffirming Party under any Loan Document from any of its obligations and liabilities under the Credit Agreement or the other
Loan Documents. Each of the Credit Agreement and the other Loan Documents shall remain in full force and effect, until (as applicable) and except to any extent modified hereby or in connection herewith. 

SECTION 2.04. GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE
GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 [The remainder of the
page has been intentionally left blank.] 

 IN WITNESS WHEREOF, each Reaffirming Party, the Administrative Agent and the Collateral
Agent, for the benefit of the Secured Parties, have caused this Agreement to be duly executed by their respective officers as of the date first above written. 

 

			
	MICROSEMI CORPORATION, as a Reaffirming
Party
		
	By:	 	  

		 	Name:
		 	Title:
	
	ACTEL CORPORATION, as a Reaffirming Party
		
	By:	 	  

		 	Name:
		 	Title:
	
	MICROSEMI CORP. – MASSACHUSETTS, as a Reaffirming Party
		
	By:	 	  

		 	Name:
		 	Title:
	
	MICROSEMI CORP. – POWER PRODUCTS GROUP, as a Reaffirming Party
		
	By:	 	  

		 	Name:
		 	Title:
	
	MICROSEMI CORP. – ANALOG MIXED SIGNAL GROUP, as a Reaffirming Party
		
	By:	 	  

		 	Name:
		 	Title:

 [Signature Page – Reaffirmation Agreement] 

  

			
	MICROSEMI CORP. – RF INTEGRATED SOLUTIONS, as a Reaffirming Party
		
	By:	 	  

		 	Name:
		 	Title:
	
	MICROSEMI CORP. – RF POWER PRODUCTS, as a Reaffirming Party
		
	By:	 	  

		 	Name:
		 	Title:
	
	MICROSEMI CORP. – POWER MANAGEMENT GROUP, as a Reaffirming Party
		
	By:	 	  

		 	Name:
		 	Title:
	
	WHITE ELECTRONIC DESIGNS CORPORATION, as a Reaffirming Party
		
	By:	 	  

		 	Name:
		 	Title:

 [Signature Page – Reaffirmation Agreement] 

  

			
	MORGAN STANLEY SENIOR FUNDING, INC.,
as Administrative Agent
		
	By:	 	  

		 	Name:
		 	Title:
	
	MORGAN STANLEY & CO. LLC, as Collateral Agent
		
	By:	 	  

		 	Name:
		 	Title:

 [Signature Page – Reaffirmation Agreement]EX-10.1

 Exhibit 10.1 
 2005 Executive Incentive Compensation Plan 
 Huttig Building Products, Inc.

 Third Amendment and Restatement Effective February 21, 2012 

 Contents 

 

							
	 Article 1.
	 	Establishment, Purpose, and Duration	  	 	A-9	  
	 Article 2.
	 	Definitions	  	 	A-9	  
	 Article 3.
	 	Administration	  	 	A-12	  
	 Article 4.
	 	Shares Subject to This Plan and Maximum Awards	  	 	A-13	  
	 Article 5.
	 	Eligibility and Participation	  	 	A-14	  
	 Article 6.
	 	Stock Options	  	 	A-14	  
	 Article 7.
	 	Stock Appreciation Rights	  	 	A-16	  
	 Article 8.
	 	Restricted Stock and Restricted Stock Units	  	 	A-17	  
	 Article 9.
	 	Performance Units/Performance Shares	  	 	A-18	  
	 Article 10.
	 	Other Stock-Based Awards	  	 	A-18	  
	 Article 11.
	 	Transferability of Awards	  	 	A-19	  
	 Article 12.
	 	Performance Measures	  	 	A-19	  
	 Article 13.
	 	Covered Employee Incentive Award	  	 	A-20	  
	 Article 14.
	 	Dividend Equivalents	  	 	A-21	  
	 Article 15.
	 	Beneficiary Designation	  	 	A-21	  
	 Article 16.
	 	Rights of Participants	  	 	A-21	  
	 Article 17.
	 	Change of Control	  	 	A-22	  
	 Article 18.
	 	Amendment, Modification, Suspension, and Termination	  	 	A-22	  
	 Article 19.
	 	Withholding	  	 	A-22	  
	 Article 20.
	 	Successors	  	 	A-23	  
	 Article 21.
	 	General Provisions	  	 	A-23	  

  
 A-8

 Huttig Building Products, Inc. 

2005 Executive Incentive Compensation Plan 
 Article 1. Establishment, Purpose, and Duration 
 1.1 Establishment.
Huttig Building Products, Inc., a Delaware corporation (hereinafter referred to as the “Company”), has established an incentive compensation plan known as the Huttig Building Products, Inc. 2005 Executive Incentive Compensation Plan
(hereinafter referred to as the ”Plan”), effective originally as of March 15, 2005 (the “Effective Date”). This Plan permits the grant of Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation Rights,
Restricted Stock, Restricted Stock Units, Performance Shares, Performance Units, Covered Employee Incentive Awards, and Other Stock-Based Awards. The Plan, as amended and restated herein, has been approved to be effective as of February 21,
2012, and shall remain in effect as provided in Section 1.3 hereof. 
 1.2 Purpose of this Plan. The purpose of this
Plan is to provide a means whereby Eligible Persons develop a sense of proprietorship and personal involvement in the development and financial success of the Company, and to encourage them to devote their best efforts to the business of the
Company, thereby advancing the interests of the Company and its stockholders. A further purpose of this Plan is to provide a means through which the Company may attract able Eligible Persons as service providers and to provide a means whereby those
individuals upon whom the responsibilities of the successful administration and management of the Company are of importance, can acquire and maintain stock ownership, thereby strengthening their concern for the welfare of the Company. 

1.3 Duration of this Plan. Unless sooner terminated as provided herein, this Plan shall terminate ten (10) years from the
Effective Date. After this Plan is terminated, no Awards may be granted but Awards previously granted shall remain outstanding in accordance with their applicable terms and conditions and this Plan’s terms and conditions. 

Article 2. Definitions 
 Whenever used in this Plan, the following terms shall have the meanings set forth below, and when the meaning is intended, the initial letter of the word shall be capitalized. 

 

	 	2.1	“Affiliate” shall mean any corporation or other entity (including, but not limited to, a partnership or a limited liability company) that is affiliated
with the Company through stock or equity ownership or otherwise, and is designated as an Affiliate for purposes of this Plan by the Committee. 

  

	 	2.2	“Annual Award Limit” or “Annual Award Limits” have the meaning set forth in Section 4.3. 

 

	 	2.3	“Award” means, individually or collectively, a grant under this Plan of Nonqualified Stock Options, Incentive Stock Options, SARs, Restricted Stock,
Restricted Stock Units, Performance Shares, Performance Units, Covered Employee Incentive Awards, or Other Stock-Based Awards, in each case subject to the terms of this Plan. 

 

	 	2.4	“Award Agreement” means either: (i) a written agreement entered into by the Company and a Participant setting forth the terms and provisions
applicable to an Award granted under this Plan, or (ii) a written or electronic statement issued by the Company to a Participant describing the terms and provisions of such Award, including any amendment or modification thereof.

  

	 	2.5	“Beneficial Owner” or “Beneficial Ownership” shall have the meaning ascribed to such term in Rule 13d-3 of the General Rules and
Regulations under the Exchange Act. 

  

	 	2.6	“Board” or “Board of Directors” means the Board of Directors of the Company. 

 

	 	2.7	 “Change in Control” of the Company means, and shall be deemed to have occurred upon, the first to occur of any of the following events
after the Effective Date: (a) the first purchase of shares pursuant to a tender offer or exchange offer (other than a tender offer or exchange offer by the Company) for all or part of the Shares or any securities convertible into such Shares,
(b) the receipt by the Company of a Schedule 13D or other advice indicating that a person is the “beneficial owner” (as that term is defined in Rule 13d-3 under the Exchange Act) of 20% or more of the Shares calculated as provided in
paragraph (d) of said Rule 13d-3, (c) the date of consummation of any merger, reorganization, consolidation, share exchange, transfer of assets or other 

	 	
transaction having similar effect involving the Company (“Business Transaction”) in which the Company will not be the continuing or surviving corporation or pursuant to which Shares
would be converted into cash, securities or other property, other than a Business Transaction in which the holders of the Shares immediately prior to the Business Transaction would own more than 50% of the common stock of the surviving corporation
immediately after the Business Transaction, (d) the date of consummation of any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all or substantially all the assets of the Company, (e) the
adoption of any plan or proposal for the liquidation (but not a partial liquidation) or dissolution of the Company, or (f) the date upon which the individuals who constitute the Board as of the Effective Date (the “Incumbent Board”)
cease for any reason to constitute at least a majority of the Board, provided that any person becoming a director subsequent to such date whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at
least three-quarters of the directors comprising the Incumbent Board (other than an election or nomination of an individual whose initial assumption of office is in connection with an actual or threatened election contest relating to the election of
the Directors of the Company) shall, for purposes of this Plan, be considered as though such person were a member of the Incumbent Board. 

  

	 	2.8	“Code” means the U.S. Internal Revenue Code of 1986, as amended from time to time, or any successor thereto. For purposes of this Plan, references to
sections of the Code shall be deemed to include references to any applicable regulations thereunder and any successor or similar provision. 

  

	 	2.9	“Committee” means the Management Organization & Compensation Committee of the Board or a subcommittee thereof, or any other committee
designated by the Board to administer this Plan. The members of the Committee shall be appointed from time to time by and shall serve at the discretion of the Board. If the Committee does not exist or cannot function for any reason, the Board may
take any action under the Plan that would otherwise be the responsibility of the Committee. 

  

	 	2.10	“Company” means Huttig Building Products, Inc., a Delaware corporation, and any successor thereto as provided in Article 20 herein.

  

	 	2.11	“Consolidated Operating Earnings” means the consolidated earnings before income taxes of the Company, computed in accordance with generally accepted
accounting principles, but shall exclude the effects of Extraordinary Items. 

  

	 	2.12	“Covered Employee” means any key Employee who is or may become (as determined by the Committee in its discretion) a “Covered Employee,” as
defined in Section 162(m) of the Code, or any successor statute. 

  

	 	2.13	“Covered Employee Incentive Award” means an Award granted to a Covered Employee as described in Article 13. 

 

	 	2.14	“Effective Date” has the meaning set forth in Section 1.1. 

 

	 	2.15	“Eligible Person” means any person designated as an employee of the Company, its Affiliates, and/or its Subsidiaries on the payroll records thereof or
any individual who is classified or treated by the Company, Affiliate, and/or Subsidiary as an independent contractor or consultant. 

  

	 	2.16	“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, or any successor act thereto. 

 

	 	2.17	“Extraordinary Items” means (i) extraordinary, unusual, and/or nonrecurring items of gain or loss; (ii) gains or losses on the disposition of
a business; (iii) changes in tax or accounting regulations or laws; or (iv) the effect of a merger or acquisition, all of which must be identified in the audited financial statements, including footnotes, or Management Discussion and
Analysis section of the Company’s annual report. 

  

	 	2.18	 “Fair Market Value” or “FMV” means a price that is based on the opening, closing, actual, high, low, or average
selling prices of a Share reported on the New York Stock Exchange (“NYSE”) or other established stock exchange (or exchanges) on the applicable date, the preceding trading day, the next succeeding trading day, or an average of trading
days, as determined by the Committee in its discretion. Unless the Committee determines otherwise, if the Shares are traded over the counter at the time a determination of its Fair Market

  
 A-10

	 	
Value is required to be made hereunder, its Fair Market Value shall be deemed to be equal to the average between the reported high and low, closing bid and asked, or opening and closing prices of
a Share on the most recent date on which Shares were publicly traded. In the event Shares are not publicly traded at the time a determination of their value is required to be made hereunder, the determination of their Fair Market Value shall be made
by the Committee in such manner as it deems appropriate. Such definition(s) of FMV shall be specified in each Award Agreement and may differ depending on whether FMV is in reference to the grant, exercise, vesting, settlement, or payout of an Award.

  

	 	2.19	“Freestanding SAR” means an SAR that is granted independently of any Options, as described in Article 7. 

 

	 	2.20	“Full Value Award” means an Award other than in the form of an ISO, NQSO, or SAR, and which is settled by the issuance of Shares.

  

	 	2.21	“Grant Price” means the price established at the time of grant of a SAR pursuant to Article 7, used to determine whether there is any payment due upon
exercise of the SAR. 

  

	 	2.22	“Incentive Stock Option” or “ISO” means an Option to purchase Shares granted under Article 6 to an Employee and that is designated as
an Incentive Stock Option and that is intended to meet the requirements of Code Section 422, or any successor provision. 

  

	 	2.23	“Insider” shall mean an individual who is, on the relevant date, an officer, or Director of the Company, or a more than ten percent
(10%) Beneficial Owner of any class of the Company’s equity securities that is registered pursuant to Section 12 of the Exchange Act, as determined by the Board in accordance with Section 16 of the Exchange Act.

  

	 	2.24	“Net Income” means the consolidated net income before taxes for this Plan Year, as reported in the Company’s annual report to stockholders or as
otherwise reported to stockholders. 

  

	 	2.25	“Nonqualified Stock Option” or “NQSO” means an Option that is not intended to meet the requirements of Code Section 422, or that
otherwise does not meet such requirements. 

  

	 	2.26	“Operating Cash Flow” means cash flow from operating activities as defined in ASC 320, Statement of Cash Flows. 

 

	 	2.27	“Option” means an Incentive Stock Option or a Nonqualified Stock Option, as described in Article 6. 

 

	 	2.28	“Option Price” means the price at which a Share may be purchased by a Participant pursuant to an Option. 

 

	 	2.29	“Other Stock-Based Award” means an equity-based or equity-related Award not otherwise described by the terms of this Plan, granted pursuant to Article
10. 

  

	 	2.30	“Participant” means any Eligible Person as set forth in Article 5 to whom an Award is granted. 

 

	 	2.31	“Performance-Based Compensation” means compensation under an Award that satisfies the requirements of Section 162(m) of the Code and the
applicable treasury regulations thereunder for certain performance-based compensation paid to Covered Employees. Notwithstanding the foregoing, nothing in this Plan shall be construed to mean that an Award which does not satisfy the requirements for
performance-based compensation under Code Section 162(m) does not constitute performance-based compensation for other purposes, including Code Section 409A. 

 

	 	2.32	“Performance Measures” means measures as described in Article 12 on which the performance goals are based and which are approved by the Company’s
stockholders pursuant to this Plan in order to qualify Awards as Performance-Based Compensation. 

  

	 	2.33	“Performance Period” means the period of time during which the performance goals must be met in order to determine the amount payable to, and/or the
Participant’s vested interest with respect to an Award. 

  
 A-11

	 	2.34	“Performance Share” means an Award under Article 9 herein and subject to the terms of this Plan, denominated in Shares, the value of which at the time
it is payable is determined as a function of the extent to which corresponding performance criteria have been achieved. 

  

	 	2.35	“Performance Unit” means an Award under Article 9 herein and subject to the terms of this Plan, denominated in units, the value of which at the time it
is payable is determined as a function of the extent to which corresponding performance criteria have been achieved. 

  

	 	2.36	“Period of Restriction” means the period when Restricted Stock or Restricted Stock Units are subject to a substantial risk of forfeiture (based on the
passage of time, the achievement of performance goals, or upon the occurrence of other events as determined by the Committee, in its discretion), as provided in Article 8. 

 

	 	2.37	“Person” shall have the meaning ascribed to such term in Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof,
including a “group” as defined in Section 13(d) thereof. 

  

	 	2.38	“Plan” means the Huttig Building Products, Inc. 2005 Executive Incentive Compensation Plan, as it may be amended from time to time.

  

	 	2.39	“Plan Year” means the calendar year. 

  

	 	2.40	“Prior Plans” means the Huttig Building Products, Inc. 1999 Stock Incentive Plan, as amended, and the Huttig Building Products, Inc. 2001 Stock
Incentive Plan, as amended. 

  

	 	2.41	“Restricted Stock” means an Award granted to a Participant pursuant to Article 8. 

 

	 	2.42	“Restricted Stock Unit” means an Award granted to a Participant pursuant to Article 8, with respect to which Shares are awarded upon the satisfaction
or lapse of the restrictions applicable thereto. 

  

	 	2.43	“Share” means a share of common stock of the Company, $.01 par value per share. 

 

	 	2.44	“Stock Appreciation Right” or “SAR” means an Award, designated as a SAR, pursuant to the terms of Article 7 herein.

  

	 	2.45	“Subsidiary” means any corporation or other entity, whether domestic or foreign, in which the Company has or obtains, directly or indirectly, a
proprietary interest of more than fifty percent (50%) by reason of stock ownership or otherwise. 

  

	 	2.46	“Tandem SAR” means an SAR that is granted in connection with a related Option pursuant to Article 7 herein, the exercise of which shall require
forfeiture of the right to purchase a Share under the related Option (and when a Share is purchased under the Option, the Tandem SAR shall similarly be canceled). 

 Article 3. Administration 
 3.1 General. The Committee shall be
responsible for administering this Plan, subject to this Article 3 and the other provisions of this Plan. The Committee may employ attorneys, consultants, accountants, agents, and other individuals, any of whom may be an Employee, and the Committee,
the Company, and its officers and Directors shall be entitled to rely upon the advice, opinions, or valuations of any such individuals. All actions taken and all interpretations and determinations made by the Committee shall be final and binding
upon the Participants, the Company, and all other interested individuals. 
 3.2 Authority of the Committee. The
Committee shall have full and exclusive discretionary power to interpret the terms and the intent of this Plan and any Award Agreement or other agreement or document ancillary to or in connection with this Plan, to determine eligibility for Awards
and to adopt such rules, regulations, forms, instruments, and guidelines for administering this Plan as the Committee may deem necessary or proper. Such authority shall include, but not be limited to, selecting Award recipients, establishing all
Award terms and conditions, including the terms and conditions set forth in Award Agreements, granting Awards as an alternative to or as the form of payment for grants or rights earned or due under compensation plans or arrangements of the Company,
and, subject to Article 18, adopting modifications and amendments to this Plan or any Award Agreement, including without limitation, any that are necessary to comply with the laws of the countries and other jurisdictions in which the Company, its
Affiliates, and/or its Subsidiaries operate. 

  
 A-12

 3.3 Delegation. To the extent permitted under applicable law, the Committee may
delegate to one or more of its members or to one or more officers or employees of the Company, and/or its Subsidiaries and Affiliates or to one or more agents or advisors such administrative duties or powers as it may deem advisable, and the
Committee or any individuals to whom it has delegated duties or powers as aforesaid may employ one or more individuals to render advice with respect to any responsibility the Committee or such individuals may have under this Plan. The Committee may,
by resolution, authorize one or more officers of the Company to do one or both of the following on the same basis as can the Committee: (a) designate Employees to be recipients of Awards; and (b) determine the size of any such Awards;
provided, however, (i) the Committee shall not delegate such responsibilities to any such officer for Awards granted to an Employee who is considered an Insider; (ii) the resolution providing such authorization sets forth the total number
of Awards such officer(s) may grant; and (iii) the officer(s) shall report periodically to the Committee regarding the nature and scope of the Awards granted pursuant to the authority delegated. In the event of any delegation of authority under
this Section 3.3, or exercise of authority by the Board, references in the Plan to the Committee shall be deemed to refer, as applicable, to the delegate of the Committee or to the Board. 

Article 4. Shares Subject to This Plan and Maximum Awards 
 4.1 Number of Shares Available for Awards. 
  

	 	(a)	Subject to adjustment as provided in Section 4.4 herein, the maximum number of Shares available for issuance to Participants under this Plan on or after the
Effective Date (the “Share Authorization”) shall be 6,125,000. 

  

	 	(b)	Of the Shares reserved for issuance under Section 4.1(a) of this Plan, all of the reserved Shares may be issued pursuant to Full Value Awards.

  

	 	(c)	Subject to the limit set forth in Section 4.1(a) on the number of Shares that may be issued in the aggregate under this Plan, the maximum number of Shares that may
be issued pursuant to ISOs shall be 1,425,000. 

 4.2 Share Usage. Shares covered by an Award shall only be
counted as used to the extent they are actually issued. Any Shares related to Awards which terminate by expiration, forfeiture, cancellation, or otherwise without the issuance of such Shares, are settled in cash in lieu of Shares, or are exchanged
with the Committee’s permission, prior to the issuance of Shares, for Awards not involving Shares, shall be available again for grant under this Plan. Moreover, if the Option Price of any Option granted under this Plan or the tax withholding
requirements with respect to any Award granted under this Plan are satisfied by tendering Shares to the Company (by either actual delivery or by attestation), or if an SAR is exercised, only the number of Shares issued, net of the Shares tendered,
if any, will be deemed delivered for purposes of determining the maximum number of Shares available for delivery under this Plan. Shares covered by awards granted under the Prior Plans that after the Effective Date are terminated unexercised,
forfeited or otherwise surrendered shall be available for subsequent Awards under this Plan. The Shares available for issuance under this Plan may be authorized and unissued Shares or treasury Shares. 

4.3 Annual Award Limits. Unless and until the Committee determines that an Award to a Covered Employee shall not be designed to
qualify as Performance-Based Compensation, the following limits (each an “Annual Award Limit” and, collectively, “Annual Award Limits”) shall apply to grants of such Awards under this Plan: 

 

	 	(a)	Options. The maximum aggregate number of Shares subject to Options granted in any one Plan Year to any one Participant shall be 200,000 plus the amount of the
Participant’s unused applicable Annual Award Limit for Options as of the close of the previous Plan Year. 

  

	 	(b)	SARs. The maximum number of Shares subject to Stock Appreciation Rights granted in any one Plan Year to any one Participant shall be 200,000 plus the amount of
the Participant’s unused applicable Annual Award Limit for SARs as of the close of the previous Plan Year. 

  

	 	(c)	Restricted Stock or Restricted Stock Units. The maximum aggregate grant with respect to Awards of Restricted Stock or Restricted Stock Units in any one Plan Year
to any one Participant shall be 100,000 plus the amount of the Participant’s unused applicable Annual Award Limit for Restricted Stock or Restricted Stock Units as of the close of the previous Plan Year. 

  
 A-13

	 	(d)	Performance Units or Performance Shares. The maximum aggregate Award of Performance Units or Performance Shares that a Participant may receive in any one Plan
Year shall be 100,000 Shares, or equal to the value of 100,000 Shares determined as of the date of vesting or payout, as applicable plus the amount of the Participant’s unused applicable Annual Award Limit for Performance Units or Performance
Shares as of the close of the previous Plan Year. 

  

	 	(e)	Covered Employee Incentive Award. The maximum aggregate amount awarded or credited in any one Plan Year with respect to a Covered Employee Incentive Award shall
be determined in accordance with Article 13. 

  

	 	(f)	Other Stock-Based Awards. The maximum aggregate grant with respect to other Stock-Based Awards pursuant to Section 10.2 in any one Plan Year to any one
Participant shall be 100,000 plus the amount of the Participant’s unused applicable Annual Award Limit for Other Stock-Based Awards as of the close of the previous Plan Year. 

4.4 Adjustments in Authorized Shares. In the event of any corporate event or transaction (including, but not limited to, a change
in the Shares of the Company or the capitalization of the Company) such as a merger, consolidation, reorganization, recapitalization, separation, stock dividend, stock split, reverse stock split, split up, spin-off, or other distribution of stock or
property of the Company, combination of Shares, exchange of Shares, dividend in kind, or other like change in capital structure or distribution (other than normal cash dividends) to stockholders of the Company, or any similar corporate event or
transaction, the Committee, in its sole discretion, in order to prevent dilution or enlargement of Participants’ rights under this Plan, shall substitute or adjust, in an equitable manner, as applicable, the number and kind of Shares that may
be issued under this Plan or under particular forms of Awards, the number and kind of Shares subject to outstanding Awards, the Option Price or Grant Price applicable to outstanding Awards, the Annual Award Limits, and other value determinations
applicable to outstanding Awards. 
 The Committee, in its sole discretion, may also make appropriate adjustments in the terms
of any Awards under this Plan to reflect or related to such changes or distributions and to modify any other terms of outstanding Awards, including modifications of performance goals and changes in the length of Performance Periods. The
determination of the Committee as to the foregoing adjustments, if any, shall be conclusive and binding on Participants under this Plan. 
 Subject to the provisions of Article 20 and any applicable law or regulatory requirement, without affecting the number of Shares reserved or available hereunder, the Committee may authorize the issuance,
assumption, substitution, or conversion of Awards under this Plan in connection with any merger, consolidation, acquisition of property or stock, or reorganization upon such terms and conditions as it may deem appropriate, subject to compliance with
the ISO rules under Section 422 of the Code, where applicable. 
 Article 5. Eligibility and Participation

 5.1 Eligibility. Individuals eligible to participate in this Plan include all Eligible Persons. 

5.2 Actual Participation. Subject to the provisions of this Plan, the Committee may, from time to time, select from all Eligible
Persons, those individuals to whom Awards shall be granted and shall determine, in its sole discretion, the nature of, any and all terms permissible by law, and the amount of each Award. 

Article 6. Stock Options 
 6.1 Grant of Options. Subject to the terms and provisions of this Plan, Options may be granted to Participants in such number, and upon such terms, and at any time and from time to time as shall be
determined by the Committee, in its sole discretion; provided that ISOs may be granted only to Eligible Persons who are employees of the Company or of any parent or subsidiary corporation (as permitted by Section 422 of the Code and the
treasury regulations thereunder). However, an Eligible Person who is employed by an Affiliate and/or Subsidiary and is subject to Code Section 409A, may only be granted Options to the extent the Affiliate and/or Subsidiary is part of the
Company’s consolidated group for United States federal tax purposes. 

  
 A-14

 6.2 Award Agreement. Each Option grant shall be evidenced by an Award Agreement that
shall specify the Option Price, the maximum duration of the Option, the number of Shares to which the Option pertains, the conditions upon which an Option shall become vested and exercisable, and such other provisions as the Committee shall
determine which are not inconsistent with the terms of this Plan. The Award Agreement also shall specify whether the Option is intended to be an ISO or a NQSO. 
 6.3 Option Price. The Option Price for each grant of an Option under this Plan shall be determined by the Committee, in its discretion, and shall be specified in the Award Agreement; provided,
however, the Option Price on the date of grant must be at least equal to one hundred percent (100%) of the FMV of the Shares on the date of grant. 
 6.4 Term of Options. Each Option granted to a Participant shall expire at such time as the Committee shall determine at the time of grant; provided, however, no Option shall be exercisable later
than the tenth (10th) anniversary date of its grant.

 6.5 Exercise of Options. Options granted under this Article 6 shall be exercisable at such times and be subject to
such restrictions and conditions as the Committee shall in each instance approve, which terms and restrictions need not be the same for each grant or for each Participant. 
 6.6 Payment. Options granted under this Article 6 shall be exercised by the delivery of a notice of exercise to the Company or an agent designated by the Company in a form specified or accepted by
the Committee, or by complying with any alternative procedures which may be authorized by the Committee, setting forth the number of Shares with respect to which the Option is to be exercised, accompanied by full payment for the Shares. 

A condition of the issuance of the Shares as to which an Option shall be exercised shall be the payment of the Option Price. The Option
Price of any Option shall be payable to the Company in full either: (a) in cash or its equivalent; (b) by tendering (either by actual delivery or attestation) previously acquired Shares having an aggregate Fair Market Value at the time of
exercise equal to the Option Price (provided that except as otherwise determined by the Committee, the Shares that are tendered must have been held by the Participant for at least six (6) months (or such other period, if any, as the Committee
may permit) prior to their tender to satisfy the Option Price if acquired under this Plan or any other compensation plan maintained by the Company or have been purchased on the open market); (c) by a combination of (a) and (b); or
(d) any other method approved or accepted by the Committee in its sole discretion, including, without limitation, if the Committee so determines, a cashless (broker-assisted) exercise. 

Subject to any governing rules or regulations, as soon as practicable after receipt of written notification of exercise and full payment
(including satisfaction of any applicable tax withholding), the Company shall deliver to the Participant evidence of book entry Shares, or upon the Participant’s request, Share certificates in an appropriate amount based upon the number of
Shares purchased under the Option(s). 
 Unless otherwise determined by the Committee, all payments under all of the methods
indicated above shall be paid in United States dollars. 
 6.7 Restrictions on Share Transferability. The Committee may
impose such restrictions on any Shares acquired pursuant to the exercise of an Option granted under this Article 6 as it may deem advisable, including, without limitation, minimum holding period requirements, restrictions under applicable federal
securities laws, under the requirements of any stock exchange or market upon which such Shares are then listed and/or traded, or under any blue sky or state securities laws applicable to such Shares. 

6.8 Termination of Employment. Each Participant’s Award Agreement shall set forth the extent to which the Participant shall
have the right to exercise the Option following termination of the Participant’s employment or provision of services to the Company, its Affiliates, and/or its Subsidiaries, as the case may be. Such provisions shall be determined in the sole
discretion of the Committee, shall be included in the Award Agreement entered into with each Participant, need not be uniform among all Options issued pursuant to this Article 6, and may reflect distinctions based on the reasons for termination.

 6.9 Notification of Disqualifying Disposition. If any Participant shall make any disposition of Shares acquired
pursuant to the exercise of an ISO under the circumstances described in Section 421(b) of the Code (relating to certain disqualifying dispositions), such Participant shall notify the Company of such disposition within ten (10) days
thereof. 

  
 A-15

 Article 7. Stock Appreciation Rights 

7.1 Grant of SARs. Subject to the terms and conditions of this Plan, SARs may be granted to Participants at any time and from time
to time as shall be determined by the Committee. The Committee may grant Freestanding SARs, Tandem SARs, or any combination of these forms of SARs. However, an Employee who is employed by an Affiliate and/or Subsidiary and is subject to Code
Section 409A, may only be granted SARs to the extent the Affiliate and/or Subsidiary is part of the Company’s consolidated group for United States federal tax purposes. 

Subject to the terms and conditions of this Plan, the Committee shall have complete discretion in determining the number of SARs granted
to each Participant and, consistent with the provisions of this Plan, in determining the terms and conditions pertaining to such SARs. 
 The Grant Price for each grant of a Freestanding SAR shall be determined by the Committee and shall be specified in the Award Agreement; provided, however, the Grant Price on the date of grant must be at
least equal to one hundred percent (100%) of the FMV of the Shares on the date of grant. The Grant Price of Tandem SARs shall be equal to the Option Price of the related Option. 

7.2 SAR Agreement. Each SAR Award shall be evidenced by an Award Agreement that shall specify the Grant Price, the term of the
SAR, and such other provisions as the Committee shall determine. 
 7.3 Term of SAR. The term of an
SAR granted under this Plan shall be determined by the Committee, in its sole discretion, and except as determined otherwise by the Committee and specified in the SAR Award Agreement, no SAR shall be exercisable later than the tenth (10th) anniversary date of its grant. 

7.4 Exercise of Freestanding SARs. Freestanding SARs may be exercised upon whatever terms and conditions the Committee, in its
sole discretion, imposes. 
 7.5 Exercise of Tandem SARs. Tandem SARs may be exercised for all or part of the Shares
subject to the related Option upon the surrender of the right to exercise the equivalent portion of the related Option. A Tandem SAR may be exercised only with respect to the Shares for which its related Option is then exercisable. 

Notwithstanding any other provision of this Plan to the contrary, with respect to a Tandem SAR granted in connection with an ISO:
(a) the Tandem SAR will expire no later than the expiration of the underlying ISO; (b) the value of the payout with respect to the Tandem SAR may be for no more than one hundred percent (100%) of the excess of the Fair Market Value of
the Shares subject to the underlying ISO at the time the Tandem SAR is exercised over the Option Price of the underlying ISO; and (c) the Tandem SAR may be exercised only when the Fair Market Value of the Shares subject to the ISO exceeds the
Option Price of the ISO. 
 7.6 Settlement of SAR Amount. Upon the exercise of an SAR, a Participant shall be entitled to
receive payment from the Company in an amount determined by multiplying: 
  

	 	(a)	The excess of the Fair Market Value of a Share on the date of exercise over the Grant Price; by 

 

	 	(b)	The number of Shares with respect to which the SAR is exercised. 

 The payment upon SAR exercise shall be in Shares. 
 7.7 Termination of
Employment. Each Award Agreement shall set forth the extent to which the Participant shall have the right to exercise the SAR following termination of the Participant’s employment with or provision of services to the Company, its
Affiliates, and/or its Subsidiaries, as the case may be. Such provisions shall be determined in the sole discretion of the Committee, shall be included in the Award Agreement entered into with Participants, need not be uniform among all SARs issued
pursuant to this Plan, and may reflect distinctions based on the reasons for termination. 
 7.8 Other Restrictions. The
Committee shall impose such other conditions and/or restrictions on any Shares received upon exercise of a SAR granted pursuant to this Plan as it may deem advisable or desirable. These restrictions may include, but shall not be limited to, a
requirement that the Participant hold the Shares received upon exercise of a SAR for a specified period of time. 

  
 A-16

 Article 8. Restricted Stock and Restricted Stock Units 

8.1 Grant of Restricted Stock or Restricted Stock Units. Subject to the terms and provisions of this Plan, the Committee, at any
time and from time to time, may grant Shares of Restricted Stock and/or Restricted Stock Units to Participants in such amounts as the Committee shall determine. Restricted Stock Units shall be similar to Restricted Stock except that no Shares are
actually awarded to the Participant on the date of grant. Restricted Stock Units represent the right to receive Shares in the future subject to the achievement of one or more goals relating to the completion of service by the Participant and/or the
achievement of performance or other objectives. 
 8.2 Restricted Stock or Restricted Stock Unit Agreement. Each
Restricted Stock and/or Restricted Stock Unit grant shall be evidenced by an Award Agreement that shall specify the Period(s) of Restriction, the number of Shares of Restricted Stock or the number of Restricted Stock Units granted, and such other
provisions as the Committee shall determine. 
 8.3 Other Restrictions. The Committee shall impose such other conditions
and/or restrictions on any Shares of Restricted Stock or Restricted Stock Units granted pursuant to this Plan as it may deem advisable including, without limitation, a requirement that Participants pay a stipulated purchase price for each Share of
Restricted Stock or each Restricted Stock Unit, restrictions based upon the achievement of specific performance goals, time-based restrictions on vesting following the attainment of the performance goals, time-based restrictions, and/or restrictions
under applicable laws or under the requirements of any stock exchange or market upon which such Shares are listed or traded, or holding requirements or sale restrictions placed on the Shares by the Company upon vesting of such Restricted Stock or
Restricted Stock Units. 
 To the extent deemed appropriate by the Committee, the Company may retain the certificates
representing Shares of Restricted Stock in the Company’s possession until such time as all conditions and/or restrictions applicable to such Shares have been satisfied or lapse. 

Except as otherwise provided in this Article 8, Shares of Restricted Stock covered by each Restricted Stock Award shall become freely
transferable by the Participant after all conditions and restrictions applicable to such Shares have been satisfied or lapse (including satisfaction of any applicable tax withholding obligations), and Restricted Stock Units shall be paid in cash,
Shares, or a combination of cash and Shares as the Committee, in its sole discretion shall determine. 
 8.4 Certificate
Legend. In addition to any legends placed on certificates pursuant to Section 8.3, each certificate representing Shares of Restricted Stock granted pursuant to this Plan may bear a legend such as the following or as otherwise determined by
the Committee in its sole discretion: 
 The sale or transfer of Shares of stock represented by this certificate, whether
voluntary, involuntary, or by operation of law, is subject to certain restrictions on transfer as set forth in the Huttig Building Products, Inc. 2005 Executive Incentive Compensation Plan, and in the associated Award Agreement. A copy of this Plan
and such Award Agreement may be obtained from Huttig Building Products, Inc. 
 8.5 Voting Rights. Unless otherwise
determined by the Committee and set forth in a Participant’s Award Agreement, to the extent permitted or required by law, as determined by the Committee, Participants holding Shares of Restricted Stock granted hereunder may be granted the right
to exercise full voting rights with respect to those Shares during the Period of Restriction. A Participant shall have no voting rights with respect to any Restricted Stock Units granted hereunder. 

8.6 Termination of Employment. Each Award Agreement shall set forth the extent to which the Participant shall have the right to
retain Restricted Stock and/or Restricted Stock Units following termination of the Participant’s employment with or provision of services to the Company, its Affiliates, and/or its Subsidiaries, as the case may be. Such provisions shall be
determined in the sole discretion of the Committee, shall be included in the Award Agreement entered into with each Participant, need not be uniform among all Shares of Restricted Stock or Restricted Stock Units issued pursuant to this Plan, and may
reflect distinctions based on the reasons for termination. 
 8.7 Section 83(b) Election. The Committee may provide
in an Award Agreement that the Award of Restricted Stock is conditioned upon the Participant making or refraining from making an election with respect to the Award under Section 83(b) of the Code. If a Participant makes an election pursuant to
Section 83(b) of the Code concerning a Restricted Stock Award, the Participant shall be required to file promptly a copy of such election with the Company. 

  
 A-17

 Article 9. Performance Units/Performance Shares 

9.1 Grant of Performance Units/Performance Shares. Subject to the terms and provisions of this Plan, the Committee, at any time
and from time to time, may grant Performance Units and/or Performance Shares to Participants in such amounts and upon such terms as the Committee shall determine. 
 9.2 Value of Performance Units/Performance Shares. Each Performance Unit shall have an initial value that is established by the Committee at the time of grant. Each Performance Share shall have an
initial value equal to the Fair Market Value of a Share on the date of grant. The Committee shall set performance goals in its discretion which, depending on the extent to which they are met, will determine the value and/or number of Performance
Units/Performance Shares that will be paid out to the Participant. 
 9.3 Earning of Performance Units/Performance
Shares. Subject to the terms of this Plan, after the applicable Performance Period has ended, the holder of Performance Units/Performance Shares shall be entitled to receive payout on the value and number of Performance Units/Performance Shares
earned by the Participant over the Performance Period, to be determined as a function of the extent to which the corresponding performance goals have been achieved. 
 9.4 Form and Timing of Payment of Performance Units/Performance Shares. Payment of earned Performance Units/Performance Shares shall be as determined by the Committee and as evidenced in the Award
Agreement. Subject to the terms of this Plan, the Committee, in its sole discretion, may pay earned Performance Units/Performance Shares in the form of cash or in Shares (or in a combination thereof) equal to the value of the earned Performance
Units/Performance Shares at the close of the applicable Performance Period, or as soon as practicable after the end of the Performance Period. Any Shares may be granted subject to any restrictions deemed appropriate by the Committee. The
determination of the Committee with respect to the form of payout of such Awards shall be set forth in the Award Agreement pertaining to the grant of the Award. 
 9.5 Termination of Employment. Each Award Agreement shall set forth the extent to which the Participant shall have the right to retain Performance Units and/or Performance Shares following
termination of the Participant’s employment with or provision of services to the Company, its Affiliates, and/or its Subsidiaries, as the case may be. Such provisions shall be determined in the sole discretion of the Committee, shall be
included in the Award Agreement entered into with each Participant, need not be uniform among all Awards of Performance Units or Performance Shares issued pursuant to this Plan, and may reflect distinctions based on the reasons for termination.

 Article 10. Other Stock-Based Awards 
 10.1 Other Stock-Based Awards. The Committee may grant other types of equity-based or equity-related Awards not otherwise described by the terms of this Plan (including the grant or offer for sale
of unrestricted Shares) in such amounts and subject to such terms and conditions, as the Committee shall determine. Such Awards may involve the transfer of actual Shares to Participants, or payment in cash or otherwise of amounts based on the value
of Shares and may include, without limitation, Awards designed to comply with or take advantage of the applicable local laws of jurisdictions other than the United States. 
 10.2 Value of Other Stock-Based Awards. Each Other Stock-Based Award shall be expressed in terms of Shares or units based on Shares, as determined by the Committee. The Committee may establish
performance goals in its discretion. If the Committee exercises its discretion to establish performance goals, the number and/or value of Other Stock-Based Awards that will be paid out to the Participant will depend on the extent to which the
performance goals are met. 
 10.3 Payment of Other Stock-Based Awards. Payment, if any, with respect to an Other
Stock-Based Award shall be made in accordance with the terms of the Award, in cash or Shares as the Committee determines. 

10.4 Termination of Employment. The Committee shall determine the extent to which the Participant shall have the right to receive
Other Stock-Based Awards following termination of the Participant’s employment with or provision of services to the Company, its Affiliates, and/or its Subsidiaries, as the case may be. Such provisions shall be determined in the sole discretion
of the Committee, such provisions may be included in an Award Agreement entered into with each Participant, but need not be uniform among all Awards of Other Stock-Based Awards issued pursuant to this Plan, and may reflect distinctions based on the
reasons for termination. 

  
 A-18

 Article 11. Transferability of Awards 

11.1 Transferability. Except as provided in Section 11.2 below, during a Participant’s lifetime, his or her Awards shall
be exercisable only by the Participant. Awards shall not be transferable other than by will or the laws of descent and distribution; no Awards shall be subject, in whole or in part, to attachment, execution, or levy of any kind; and any purported
transfer in violation hereof shall be null and void. 
 11.2 Committee Action. The Committee may, in its discretion,
determine that notwithstanding Section 11.1, any or all Awards (other than ISOs) shall be transferable to and exercisable by such transferees, and subject to such terms and conditions, as the Committee may deem appropriate; provided, however,
that only the Participant to which the Award had been granted, a “family member” (as defined below in Section 11.4 below) of such Participant, or a charity may be a transferee of such Award. Such a determination may be made at the
time an Award is granted or at any time thereafter. 
 11.3 Domestic Relations Orders. Without limiting the generality of
Section 11.1, and notwithstanding Section 11.2, no domestic relations order purporting to authorize a transfer of an Award shall be recognized as valid. 
 11.4 Family Member. For purposes of Section 11.2, “family member” shall mean a Participant’s child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former
spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships, any person sharing the Participant’s household (other than a tenant of the
Participant), a trust in which these persons (or the Participant) have more than fifty percent (50%) of the beneficial interest, a foundation in which these persons (or the Participant) control the management of assets, and any other entity in
which these persons (or the Participant) own more than fifty percent (50%) of the voting interests. 
 Article 12.
Performance Measures 
 12.1 Performance Measures. Unless and until the Committee proposes for stockholder vote and
the stockholders approve a change in the general Performance Measures set forth in this Article 12, the performance goals upon which the payment or vesting of an Award to a Covered Employee (other than a Covered Employee Incentive Award
awarded or credited pursuant to Article 13) that is intended to qualify as Performance-Based Compensation shall be limited to the following Performance Measures: 
  

	 	(a)	Net earnings or net income (before or after taxes); 

  

	 	(b)	Earnings per share; 

  

	 	(c)	Net sales or revenue growth; 

  

	 	(d)	Net operating profit (before or after taxes); 

  

	 	(e)	Return measures (including, but not limited to, return on assets, capital, invested capital, equity, sales, or revenue); 

 

	 	(f)	Cash flow (including, but not limited to, operating cash flow, free cash flow, cash flow return on equity, and cash flow return on investment);

  

	 	(g)	Earnings before or after taxes, interest, depreciation, and/or amortization; 

 

	 	(h)	Gross or operating margins; 

  

	 	(i)	Productivity ratios; 

  

	 	(j)	Share price (including, but not limited to, growth measures and total stockholder return); 

 

	 	(k)	Expense targets; 

  

	 	(l)	Margins; 

  
 A-19

	 	(m)	Operating efficiency; 

  

	 	(n)	Market share; 

  

	 	(o)	Customer satisfaction; 

  

	 	(p)	Working capital targets; and 

  

	 	(q)	 Economic value added or
EVA® (net operating profit after tax minus the sum of capital multiplied by the cost of capital).

 Any Performance Measure(s) may be used to measure the performance of the Company, Subsidiary, and/or
Affiliate as a whole or any business unit of the Company, Subsidiary, and/or Affiliate or any combination thereof, as the Committee may deem appropriate, or any of the above Performance Measures as compared to the performance of a group of
comparator companies, or published or special index that the Committee, in its sole discretion, deems appropriate, or the Company may select Performance Measure (j) above as compared to various stock market indices. The Committee also has the
authority to provide for accelerated vesting of any Award based on the achievement of performance goals pursuant to the Performance Measures specified in this Article 12. 
 12.2 Evaluation of Performance. The Committee may provide in any such Award that any evaluation of performance may include or exclude any of the following events that occurs during a Performance
Period: (a) asset write-downs, (b) litigation or claim judgments or settlements, (c) the effect of changes in tax laws, accounting principles, or other laws or provisions affecting reported results, (d) any reorganization and
restructuring programs, (e) extraordinary nonrecurring items as described in Accounting Principles Board Opinion No. 30 and/or in management’s discussion and analysis of financial condition and results of operations appearing in the
Company’s annual report to stockholders for the applicable year, (f) acquisitions or divestitures, and (g) foreign exchange gains and losses. To the extent such inclusions or exclusions affect Awards to Covered Employees, they shall
be prescribed in a form that meets the requirements of Code Section 162(m) for deductibility. 
 12.3 Adjustment of
Performance-Based Compensation. Awards that are intended to qualify as Performance-Based Compensation may not be adjusted upward. The Committee shall retain the discretion to adjust such Awards downward, either on a formula or discretionary
basis or any combination, as the Committee determines. 
 12.4 Committee Discretion. In the event that applicable tax
and/or securities laws change to permit Committee discretion to alter the governing Performance Measures without obtaining stockholder approval of such changes, the Committee shall have sole discretion to make such changes without obtaining
stockholder approval. In addition, in the event that the Committee determines that it is advisable to grant Awards that shall not qualify as Performance-Based Compensation, the Committee may make such grants without satisfying the requirements of
Code Section 162(m) and base vesting on Performance Measures other than those set forth in Section 12.1. 
 Article
13. Covered Employee Incentive Award 
 13.1 Eligibility. The Committee may designate Covered Employees who are
eligible to receive a monetary payment under this Article 13. 
 13.2 Performance Targets. The Committee may establish
objective performance targets for one or more designated Performance Periods based on specified levels of one or more of the Performance Measures. Such performance targets shall be established by the Committee on a timely basis to ensure that the
targets are considered “preestablished” for purposes of Section 162(m) of the Code. The Committee may, in its discretion, make appropriate adjustments in the Performance Measures established for a particular Performance Period to take
account of the effect of any unforeseen events that occur during such period. In addition to establishing the performance targets, the Committee may establish such other terms and conditions applicable to Covered Employee Incentive Awards as it may
determine in its sole discretion. 
 13.3 Amounts of Awards. In conjunction with the establishment of performance targets
for a Performance Period, the Committee shall adopt an objective formula (on the basis of percentages of Covered Employees’ salaries, shares in a bonus pool or otherwise) for computing the respective amounts payable under the Plan to Covered
Employees if and to the extent that the performance targets are attained. Such formula shall comply with the requirements applicable to 

  
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performance-based compensation plans under Section 162(m) of the Code and, to the extent based on percentages of a bonus pool, such percentages shall not exceed 100% in the aggregate. For
any calendar year, no Covered Employee shall be granted a Covered Employee Incentive Award in respect of more than $2 million in cash; provided, however, that any Covered Employee Incentive Award earned or payable over a period of more than one
calendar year shall be pro-rated over the applicable Performance Period in determining the application of the foregoing limit to such Award. 
 13.4 Payment of Awards. No Covered Employee Incentive Award shall be payable until the Committee has certified in writing that the specified performance targets have been attained. Covered Employee
Incentive Awards will be payable to Covered Employees in cash following the end of the applicable Performance Period at such time and in such form as the Committee shall determine. 

13.5 Negative Discretion. Notwithstanding the attainment by the Company of the specified performance targets, the Committee shall
have the discretion, which need not be exercised uniformly among the Participants, to reduce or eliminate the Award that would be otherwise paid. 
 13.6 Guidelines. The Committee may adopt from time to time written policies for its implementation of this Article 13. Such guidelines shall reflect the intention of the Company that all payments
hereunder qualify as performance-based compensation under Section 162(m) of the Code. 
 13.7 Non-Exclusive
Arrangement. The adoption and operation of this Article 13 shall not preclude the Board or the Committee from approving other incentive compensation arrangements for the benefit of individuals who are Covered Employees hereunder as the Board or
Committee, as the case may be, deems appropriate and in the best interests of the Company. 
 Article 14. Dividend Equivalents

 Any Participant selected by the Committee may be granted dividend equivalents based on the dividends declared on Shares
that are subject to any Award, other than an Option or SAR, to be credited as of dividend payment dates, during the period between the date the Award is granted and the date the Award is exercised, vests or expires, as determined by the Committee.
The dividend equivalents may be subject to any limitations and/or restrictions determined by the Committee. Such dividend equivalents shall be converted to cash or additional Shares by such formula and at such time and subject to such limitations as
may be determined by the Committee. Dividend equivalents shall be established and maintained only on the books and records of the Company and no assets or funds of the Company shall be set aside, placed in trust, removed from the claims of the
Company’s general creditors, or otherwise made available until such amounts are actually payable as provided hereunder. 

Article 15. Beneficiary Designation 
 Each Participant under this Plan may, from time to time, name any beneficiary or beneficiaries (who may be named contingently or successively) to whom any benefit under this Plan is to be paid in case of
his death before he receives any or all of such benefit. Each such designation shall revoke all prior designations by the same Participant, shall be in a form prescribed by the Committee, and will be effective only when filed by the Participant in
writing with the Company during the Participant’s lifetime. In the absence of any such beneficiary designation, benefits remaining unpaid or rights remaining unexercised at the Participant’s death shall be paid or exercised by the
Participant’s executor, administrator, or legal representative. 
 Article 16. Rights of Participants 

16.1 Employment. Nothing in this Plan or an Award Agreement shall interfere with or limit in any way the right of the Company, its
Affiliates, and/or its Subsidiaries to terminate any Participant’s employment at any time or for any reason not prohibited by law, nor confer upon any Participant any right to continue his employment for any specified period of time.

 Neither an Award nor any benefits arising under this Plan shall constitute an employment contract with the Company, its
Affiliates, and/or its Subsidiaries and, accordingly, subject to Articles 3 and 18, this Plan and the benefits hereunder may be terminated at any time in the sole and exclusive discretion of the Committee without giving rise to any liability on the
part of the Company, its Affiliates, and/or its Subsidiaries. 

  
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 16.2 Participation. No individual shall have the right to be selected to receive an
Award under this Plan, or, having been so selected, to be selected to receive a future Award. 
 16.3 Rights as a
Stockholder. Except as otherwise provided herein, a Participant shall have none of the rights of a stockholder with respect to Shares covered by any Award until the Participant becomes the record holder of such Shares. 

Article 17. Change of Control 
 17.1 Change of Control of the Company. Notwithstanding any other provision of this Plan to the contrary, the provisions of this Article 17 shall apply in the event of a Change of Control, unless
otherwise specifically prohibited under applicable laws, or by the rules and regulations of any governing governmental agencies or national securities exchanges, or unless otherwise determined by the Committee in connection with the grant of an
Award as reflected in the applicable Award Agreement. 
 Upon a Change of Control, all then-outstanding Stock Options and Stock
Appreciation Rights shall become fully vested and exercisable, and all then-outstanding Restricted Stock and Restricted Stock Units shall vest in full and be free of restrictions. The treatment of any other Awards shall be as determined by the
Committee in connection with the grant thereof, as reflected in the applicable Award Agreement. 
 Article 18. Amendment,
Modification, Suspension, and Termination 
 18.1 Amendment, Modification, Suspension, and Termination. Subject to
Section 18.3, the Committee or Board may, at any time and from time to time, alter, amend, modify, suspend, or terminate this Plan and any Award Agreement in whole or in part; provided, however, that, without the prior approval of the
Company’s stockholders and except as provided in Section 4.4, (i) neither the Option Price of an Option nor the Grant Price of an SAR may be lowered, (ii) a new Award may not be granted in exchange for the cancellation of an
outstanding Award, and (iii) no Option or SAR for which the Option Price or Grant Price, as applicable, is less than the Fair Market Value of the Shares underlying the Option or SAR, may be cancelled in exchange for a cash payment. In addition,
no amendment of this Plan shall be made without stockholder approval if stockholder approval is required by law, regulation, or stock exchange rule, including, but not limited to, the Exchange Act, the Code and, if applicable, the New York Stock
Exchange Listed Company Manual. 
 18.2 Adjustment of Awards Upon the Occurrence of Certain Unusual or Nonrecurring
Events. The Committee shall make equitable and appropriate adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring events (including, without limitation, the events described in
Section 4.4 hereof) affecting the Company or the financial statements of the Company or of changes in applicable laws, regulations, or accounting principles, whenever the Committee determines that such adjustments are appropriate in order to
prevent unintended dilution or enlargement of the benefits or potential benefits intended to be made available under this Plan. The determination of the Committee as to the foregoing adjustments, if any, shall be conclusive and binding on
Participants under this Plan. 
 18.3 Awards Previously Granted. Notwithstanding any other provision of this Plan to the
contrary (other than Section 18.4), no termination, amendment, suspension, or modification of this Plan or an Award Agreement shall adversely affect in any material way any Award previously granted under this Plan, without the written consent
of the Participant holding such Award. 
 18.4 Amendment to Conform to Law. Notwithstanding any other provision of this
Plan to the contrary, the Board of Directors may amend the Plan or an Award Agreement, to take effect retroactively or otherwise, as deemed necessary or advisable for the purpose of conforming the Plan or an Award Agreement to any present or future
law relating to plans of this or similar nature (including, but not limited to, Code Section 409A), and to the administrative regulations and rulings promulgated thereunder. 

Article 19. Withholding 
 19.1 Tax Withholding. The Company shall have the power and the right to deduct or withhold, or require a Participant to remit to the Company, the minimum statutory amount to satisfy federal, state,
and local taxes, domestic or foreign, required by law or regulation to be withheld with respect to any taxable event arising as a result of this Plan. 

  
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 19.2 Share Withholding. With respect to withholding required upon the exercise of
Options or SARs, upon the lapse of restrictions on Restricted Stock and Restricted Stock Units, or upon the achievement of performance goals related to Performance Shares, or any other taxable event arising as a result of an Award granted hereunder,
Participants may elect, subject to the approval of the Committee, to satisfy the withholding requirement, in whole or in part, by having the Company withhold Shares having a Fair Market Value on the date the tax is to be determined equal to the
minimum statutory total tax that could be imposed on the transaction. All such elections shall be irrevocable, made in writing, and signed by the Participant, and shall be subject to any restrictions or limitations that the Committee, in its sole
discretion, deems appropriate. 
 Article 20. Successors 

All obligations of the Company under this Plan with respect to Awards granted hereunder shall be binding on any successor to the Company,
whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of the Company. 

Article 21. General Provisions 
 21.1 Forfeiture Events. 
  

	 	(a)	The Committee may specify in an Award Agreement that the Participant’s rights, payments, and benefits with respect to an Award shall be subject to reduction,
cancellation, forfeiture, or recoupment upon the occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions of an Award. Such events may include, but shall not be limited to, termination of
employment for cause, termination of the Participant’s provision of services to the Company, Affiliate, and/or Subsidiary, violation of material Company, Affiliate, and/or Subsidiary policies, breach of noncompetition, confidentiality, or other
restrictive covenants that may apply to the Participant, or other conduct by the Participant that is detrimental to the business or reputation of the Company, its Affiliates, and/or its Subsidiaries. 

 

	 	(b)	Notwithstanding any other provision of this Plan or any applicable Award Agreement to the contrary, if the Board determines that the Company is required to restate its
financial statements due to material noncompliance with any financial reporting requirement under the law, whether such noncompliance is the result of misconduct or other circumstances, a Participant shall be required to reimburse the Company for
any amounts earned or payable with respect to an Award to the extent required by and otherwise in accordance with applicable law and any Company policies. 

 21.2 Legend. The certificates for Shares may include any legend which the Committee deems appropriate to reflect any restrictions on transfer of such Shares. 

21.3 Gender and Number. Except where otherwise indicated by the context, any masculine term used herein also shall include the
feminine, the plural shall include the singular, and the singular shall include the plural. 
 21.4 Severability. In the
event any provision of this Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of this Plan, and this Plan shall be construed and enforced as if the illegal or invalid provision
had not been included. 
 21.5 Requirements of Law. The granting of Awards and the issuance of Shares under this Plan
shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. 
 21.6 Delivery of Title. The Company shall have no obligation to issue or deliver evidence of title for Shares issued under this Plan prior to: 

 

	 	(a)	Obtaining any approvals from governmental agencies that the Company determines are necessary or advisable; and 

  
 A-23

	 	(b)	Completion of any registration or other qualification of the Shares under any applicable national or foreign law or ruling of any governmental body that the Company
determines to be necessary or advisable. 

 21.7 Inability to Obtain Authority. The inability of the
Company to obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in
respect of the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained. 

21.8 Investment Representations. The Committee may require any individual receiving Shares pursuant to an Award under this Plan to
represent and warrant in writing that the individual is acquiring the Shares for investment and without any present intention to sell or distribute such Shares. 
 21.9 Employees Based Outside of the United States. Notwithstanding any provision of this Plan to the contrary, in order to comply with the laws in other countries in which the Company, its
Affiliates, and/or its Subsidiaries operate or have Employees, the Committee, in its sole discretion, shall have the power and authority to: 
  

	 	(a)	Determine which Affiliates and Subsidiaries shall be covered by this Plan; 

 

	 	(b)	Determine which Employees outside the United States are eligible to participate in this Plan; 

 

	 	(c)	Modify the terms and conditions of any Award granted to Employees outside the United States to comply with applicable foreign laws; 

 

	 	(d)	Establish subplans and modify exercise procedures and other terms and procedures, to the extent such actions may be necessary or advisable. Any subplans and
modifications to Plan terms and procedures established under this Section 21.9 by the Committee shall be attached to this Plan document as appendices; and 

 

	 	(e)	Take any action, before or after an Award is made, that it deems advisable to obtain approval or comply with any necessary local government regulatory exemptions or
approvals. 

 Notwithstanding the above, the Committee may not take any actions hereunder, and no Awards shall be
granted, that would violate applicable law. 
 21.10 Uncertificated Shares. To the extent that this Plan provides for
issuance of certificates to reflect the transfer of Shares, the transfer of such Shares may be effected on a noncertificated basis, to the extent not prohibited by applicable law or the rules of any stock exchange. 

21.11 Unfunded Plan. Participants shall have no right, title, or interest whatsoever in or to any investments that the Company,
and/or its Subsidiaries, and/or its Affiliates may make to aid it in meeting its obligations under this Plan. Nothing contained in this Plan, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind,
or a fiduciary relationship between the Company and any Participant, beneficiary, legal representative, or any other individual. To the extent that any person acquires a right to receive payments from the Company, its Subsidiaries, and/or its
Affiliates under this Plan, such right shall be no greater than the right of an unsecured general creditor of the Company, a Subsidiary, or an Affiliate, as the case may be. All payments to be made hereunder shall be paid from the general funds of
the Company, a Subsidiary, or an Affiliate, as the case may be and no special or separate fund shall be established and no segregation of assets shall be made to assure payment of such amounts except as expressly set forth in this Plan. 

21.12 No Fractional Shares. No fractional Shares shall be issued or delivered pursuant to this Plan or any Award. The Committee
shall determine whether cash, Awards, or other property shall be issued or paid in lieu of fractional Shares or whether such fractional Shares or any rights thereto shall be forfeited or otherwise eliminated. 

21.13 Retirement and Welfare Plans. Neither Awards made under this Plan nor Shares or cash paid pursuant to such Awards, except
pursuant to Covered Employee Incentive Awards, may be included as “compensation” for purposes of computing the benefits payable to any Participant under the Company’s or any Subsidiary’s or Affiliate’s retirement plans (both
qualified and nonqualified) or welfare benefit plans unless such other plan expressly provides that such compensation shall be taken into account in computing a Participant’s benefit. 

  
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 21.14 No Deferred Compensation. No deferral of compensation (as defined under Code
Section 409A or guidance thereto) shall be permitted under this Plan. However, the Committee may permit deferrals of compensation pursuant to a separate plan or a subplan which meets the requirements of Code Section 409A and the
regulations thereunder. Additionally, to the extent any Award is subject to Code Section 409A, notwithstanding any provision herein to the contrary, the Plan does not permit the acceleration of the time or schedule of any distribution related
to such Award, except as permitted by Code Section 409A, the regulations thereunder, and/or the Secretary of the United States Treasury. 
 21.15 Nonexclusivity of this Plan. The adoption of this Plan shall not be construed as creating any limitations on the power of the Board or Committee to adopt such other compensation arrangements
as it may deem desirable for any Participant. 
 21.16 No Constraint on Corporate Action. Nothing in this Plan shall be
construed to: (i) limit, impair, or otherwise affect the Company’s or a Subsidiary’s or an Affiliate’s right or power to make adjustments, reclassifications, reorganizations, or changes of its capital or business structure, or to
merge or consolidate, or dissolve, liquidate, sell, or transfer all or any part of its business or assets; or, (ii) limit the right or power of the Company or a Subsidiary or an Affiliate to take any action which such entity deems to be
necessary or appropriate. 
 21.17 Governing Law. The Plan and each Award Agreement shall be governed by the laws of the
State of Delaware, excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this Plan to the substantive law of another jurisdiction. Unless otherwise provided in the Award Agreement,
recipients of an Award under this Plan are deemed to submit to the exclusive jurisdiction and venue of the federal or state courts of Delaware, to resolve any and all issues that may arise out of or relate to this Plan or any related Award
Agreement. 
 21.18 Indemnification. Subject to requirements of Delaware law, each individual who is or shall have been a
member of the Board, or a Committee appointed by the Board, or an officer of the Company to whom authority was delegated in accordance with Article 3, shall be indemnified and held harmless by the Company against and from any loss, cost, liability,
or expense that may be imposed upon or reasonably incurred by him in connection with or resulting from any claim, action, suit, or proceeding to which he may be a party or in which he or she may be involved by reason of any action taken or failure
to act under this Plan and against and from any and all amounts paid by him in settlement thereof, with the Company’s approval, or paid by him in satisfaction of any judgement in any such action, suit, or proceeding against him, provided he
shall give the Company an opportunity, at its own expense, to handle and defend the same before he undertakes to handle and defend it on his own behalf, unless such loss, cost, liability, or expense is a result of his own willful misconduct or
except as expressly provided by statute. The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which such individuals may be entitled under the Company’s Certificate of Incorporation or Bylaws,
as a matter of law, or otherwise, or any power that the Company may have to indemnify them or hold them harmless. 
 21.19
Merger or Acquisition. In the event that the Company is a party to a merger, reorganization, consolidation, share exchange, transfer of assets, or other transaction having a similar effect involving the Company, outstanding Awards shall be
subject to the agreement of merger or reorganization. Such agreement may provide, without limitation, for the continuation of outstanding Awards by the Company (if the Company is a surviving corporation), for their assumption by the surviving
corporation or its parent or subsidiary, for the substitution by the surviving corporation or its parent or subsidiary of its own awards for such Awards, for accelerated vesting and accelerated expiration, or for settlement in cash or cash
equivalents. 

  
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